---
title: "Incyte: Business Model & Revenue Engine"
description: "Incyte revenue by region from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained. 93% of revenue came from the United States."
canonical: https://www.getswoopr.com/stocks/companies/incyte/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Incyte: Business Model & Revenue Engine

## Direct Answer

Incyte reports revenue across 3 geographic regions in its fiscal 2025 Form 10-K. United States is the largest, with $4.8 billion of revenue (93% of the total), followed by Europe at $324 million (6%). 93% of revenue came from the United States.

## How Does Incyte Make Money?

United States supplies 93% of revenue, so Incyte's results move mostly with that one region; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Other countries grew fastest (+182.7%) and United States slowest (+20.8%), so the revenue mix tilts toward Other countries while that gap lasts.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $4.8 billion | $4.0 billion | 93.4% | 20.8% |
| Europe | $324 million | $260 million | 6.3% | 24.3% |
| Other countries | $18 million | $6 million | 0.3% | 182.7% |

![Bar chart of Incyte revenue by region for fiscal 2025: United States 93.4%, Europe 6.3%, Other countries 0.3%.](https://www.getswoopr.com/images/charts/incyte-business-model-segment-mix.webp)
*Incyte revenue by region as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## What the Segment Figures Do Not Show

The rows above add up to 100% of Incyte's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Incyte reported in the segment note and revenue disclosures of its Form 10-K filed February 10, 2026 (accession 0000879169-26-000010), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Incyte's main regions?

In its fiscal 2025 Form 10-K, Incyte reports revenue for United States, Europe and Other countries.

### Which part of Incyte brings in the most revenue?

United States, with $4.8 billion of revenue in fiscal 2025, or 93% of the total.

### How much of Incyte's revenue comes from outside the United States?

7% in fiscal 2025, by the geographic breakdown Incyte reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: INCYTE CORP Form 10-K filed February 10, 2026](https://www.sec.gov/Archives/edgar/data/879169/000087916926000010/incy-20251231.htm)
- [SEC EDGAR: INCYTE CORP annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=879169&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [Incyte company dossier](https://www.getswoopr.com/stocks/companies/incyte/)
- [Incyte financial metrics](https://www.getswoopr.com/stocks/companies/incyte/metrics/)
- [Incyte financial risk indicators](https://www.getswoopr.com/stocks/companies/incyte/risks/)
- [Incyte peer comparison](https://www.getswoopr.com/stocks/companies/incyte/competitors/)
- [Incyte business model and revenue mix](https://www.getswoopr.com/stocks/companies/incyte/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).