COMPARE · Reviewed August 1, 2026
AUPH vs INCY
Verdict: Side-by-side breakdown using the Bull Rankings model. AUPH scored 78.8, INCY scored 74.6 — AUPH leads.
Compare another set
AUPH
Aurinia Pharmaceuticals Inc.
78.8
$14.88 · $1.9B
fundamentals as of
Score gap
4.2
AUPH leads
INCY
Incyte Corporation
74.6
$119.52 · $24.2B
fundamentals as of
The model, pillar by pillar (0–100 each)
AUPH
stronger →← stronger
INCY
82
Qualityreturns · margins · balance sheet
84
67
Growthrevenue & earnings expansion
90
90
Valuevaluation vs sector peers
55
INCY is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
AUPH
INCY
$167mC
FCF
$1.9bC+
+20.6%A-
Rev
+21.5%A-
0.12B+
D/E
0.01A
6.9xA
P/E
15.2xA-
0.34A
PEG
13.20D
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
AUPH
INCY
22% below
Price vs fair valuelower is cheaper
56% below
~4%/yr
Growth the price implies10-yr FCF · lower = less priced in
~-5%/yr
+9%
1-yr DCF upside
+72%
+29%
5-yr DCF upside
+127%
+62%
10-yr DCF upside
+246%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
AUPH
Why this score
- Buying back stock
- Earnings outpace cash
INCY
Why this score
- Diluting shareholders
The companies
AUPHAurinia Pharmaceuticals Inc.
Why now
Biotechnology · market cap $1.9b. Down 23% from 52-week high of $19.25 — deep drawdown territory. Revenue growing +21%, comfortably above the S&P median. PEG 0.34 — paying under fair value for the growth rate. 7 sell-side analysts rate this a Buy with a mean 1-yr target of $17.00 (implying +14% upside).
Moat
Net margin 100% is exceptional — pricing-power territory rare outside premium software, branded staples, and specialty pharma. ROE 53% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. Pharma moat is patent runway + pipeline depth — a single approved molecule funds the next generation of bets. Late-stage trials carry binary readouts that swing valuation 30%+.
Risk
Beta 1.42 implies above-market volatility — position-size to the drawdowns this name will produce in a market correction, not to its bull-case return. Trial-readout binary — late-stage clinical trials carry approve/reject outcomes that swing valuation 30%+; the equity is effectively a portfolio of these binary events, not a steady cash-flow business.
INCYIncyte Corporation
Why now
Biotechnology · market cap $24.2b. 10% off the 52-week high of $132.60. Revenue growing +21%, comfortably above the S&P median. 22 sell-side analysts rate this a Buy with a mean 1-yr target of $122.86 (implying +3% upside).
Moat
Net margin 27% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 25% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 132% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Reimbursement risk — even an approved drug can fail commercially if payors don't reimburse; pricing pressure from Medicare and large PBMs has been accelerating since 2024.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.