LIGAND PHARMACEUTICALS INCORPORATED financials
Source: EDGAR filings · Built 2026-06-02T03:27:27Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 48.88M | 95.20M | 46.01M | 119.87M | — | 60.85M |
| EBITDA | 74.78M | 12.63M | 48.46M | 54.57M | — | 154.92M |
| Working Capital | 794.82M | 294.45M | 220.65M | 164.79M | — | 423.09M |
| Net Debt | 276.62M | -65.15M | -16.77M | 42.74M | — | 318.85M |
| Operating Margin | 15.29% | -13.53% | 9.09% | 1.55% | — | 42.99% |
| Net Margin | 46.42% | -2.41% | 39.72% | -17.00% | — | 23.66% |
| Return on Equity (ROE) | 12.23% | -0.49% | 7.44% | -5.58% | — | 6.96% |
| Return on Assets (ROA) | 7.97% | -0.43% | 6.63% | -4.37% | — | 4.40% |
| Current Ratio | 22.23× | 8.93× | 14.15× | 2.67× | — | 11.15× |
| Debt-to-Equity | 0.44× | 0.01× | 0.01× | 0.15× | — | 0.41× |
| Effective Tax Rate | 21.71% | 260.13% | 15.46% | 114.49% | — | -5.74% |
| Cash Conversion Ratio | 0.40× | -24.07× | 0.95× | -4.13× | — | 1.38× |
| Accruals Ratio | 0.05× | -0.11× | 0.00× | -0.22× | — | -0.02× |
| SBC % of Revenue | 17.48% | 24.58% | 19.60% | 30.72% | — | 16.06% |
| CapEx Coverage | 103.05× | 52.57× | 13.90× | 7.67× | — | 4.39× |
| Free Cash Flow Per Share | $0.00 | $0.01 | $0.00 | $0.01 | — | $0.00 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 30.84× | — | 24.29× | — | — | 29.11× |
| P/FCF | — | — | — | 9408.45× | — | — |
| FCF Yield | 0.00% | 0.00% | 0.00% | 0.01% | — | 0.00% |
| EV / EBITDA | 53.70× | 156.90× | 25.53× | 21.53× | — | 18.78× |
| P/S | 13.95× | 12.25× | 9.55× | 5.77× | — | 10.72× |
| P/B | 3.68× | 2.47× | 1.79× | 1.90× | — | 3.15× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 268.09M | 167.13M | 131.31M | 196.25M | — | 241.54M |
| Research and Development Expense | 81.18M | 21.43M | 24.54M | 36.08M | — | 32.10M |
| Operating Income (Loss) | 41.00M | -22.61M | 11.94M | 3.04M | — | 103.85M |
| Income Tax Expense (Benefit) | 34.51M | 6.55M | 9.84M | 41.23M | — | -4.15M |
| Net Income (Loss) Attributable to Parent | 124.45M | -4.03M | 52.15M | -33.36M | — | 57.14M |
| Earnings Per Share, Basic | $6.44 | $-0.22 | $3.02 | $-1.98 | — | $3.44 |
| Weighted Average Number of Shares Outstanding, Basic | 19.34B | 18.29B | 17.30B | 16.87B | — | 16.63B |
| Earnings Per Share, Diluted | $6.13 | $-0.22 | $2.94 | $-1.98 | — | $3.31 |
| Weighted Average Number of Shares Outstanding, Diluted | 20.29B | 18.29B | 17.76B | 16.87B | — | 17.25B |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 174.93M | 72.31M | 22.95M | 45.01M | — | 19.52M |
| Assets, Current | 832.27M | 331.56M | 237.43M | 263.60M | — | 464.75M |
| Assets | 1.56B | 941.77M | 787.22M | 762.67M | — | 1.30B |
| Liabilities, Current | 37.45M | 37.11M | 16.78M | 98.81M | — | 41.66M |
| Liabilities | 543.42M | 111.33M | 86.30M | 165.18M | — | 476.43M |
| Stockholders' Equity Attributable to Parent | 1.02B | 830.44M | 700.91M | 597.49M | — | 821.16M |
| Common Stock, Shares, Outstanding | 19.77M | 19.11M | 17.56M | 16.95M | — | 16.77M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 49.36M | 97.05M | 49.58M | 137.85M | — | 78.80M |
| Payments to Acquire Property, Plant, and Equipment | 452.00K | 1.82M | 3.52M | 17.92M | — | 8.76M |
| Net Cash Provided by (Used in) Investing Activities | -377.32M | -143.66M | -11.68M | 163.62M | — | 30.52M |
| Payments for Repurchase of Common Stock | 15.00M | 0 | 0 | 0 | — | 0 |
| Net Cash Provided by (Used in) Financing Activities | 428.22M | 97.14M | -59.95M | -275.99M | — | -137.76M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 48.46M | 45.90M | 2.98M | -10.09M | -25.67M | 27.75M |
| EBITDA | 25.58M | 22.06M | — | — | -27.45M | -1.01M |
| Working Capital | 824.75M | 794.82M | 723.38M | 288.21M | 250.63M | 294.45M |
| Net Debt | 336.90M | 276.62M | 311.62M | -61.93M | -43.54M | -65.15M |
| Operating Margin | 33.58% | 23.20% | 47.58% | 17.73% | -79.89% | -22.51% |
| Net Margin | -25.80% | 75.06% | 101.57% | 10.18% | -93.64% | -72.62% |
| Return on Equity (ROE) | -1.34% | 4.40% | 12.34% | 0.59% | -5.34% | -3.74% |
| Return on Assets (ROA) | -0.87% | 2.87% | 7.94% | 0.51% | -4.69% | -3.30% |
| Current Ratio | 21.28× | 22.23× | 24.69× | 5.45× | 5.27× | 8.93× |
| Debt-to-Equity | 0.45× | 0.44× | 0.47× | 0.01× | 0.01× | 0.01× |
| Effective Tax Rate | 44.99% | 21.13% | 16.91% | 56.81% | 15.40% | 20.69% |
| Cash Conversion Ratio | -3.65× | 1.03× | 0.03× | -1.99× | 0.60× | -0.92× |
| Accruals Ratio | -0.04× | -0.00× | 0.08× | 0.02× | -0.02× | -0.06× |
| SBC % of Revenue | 20.49% | 23.92% | 28.22% | 37.44% | 17.29% | 17.57% |
| CapEx Coverage | 207.20× | 2869.69× | 7.44× | -21.82× | -115.14× | 39.65× |
| Free Cash Flow Per Share | $0.00 | $0.00 | $0.00 | $-0.00 | $-0.00 | $0.00 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 26.87× | 32.10× | 87.26× | — | — | — |
| P/S | 14.57× | 13.95× | 13.86× | 11.76× | 11.17× | 12.25× |
| P/B | 4.01× | 3.68× | 3.66× | 2.67× | 2.55× | 2.47× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 51.72M | 59.67M | 115.46M | 47.63M | 45.33M | 42.81M |
| Research and Development Expense | 2.15M | 3.51M | 21.02M | 6.57M | 50.09M | 4.42M |
| Operating Income (Loss) | 17.37M | 13.84M | 54.93M | 8.44M | -36.22M | -9.64M |
| Income Tax Expense (Benefit) | -10.91M | 12.00M | 23.86M | 6.38M | -7.73M | -8.11M |
| Net Income (Loss) Attributable to Parent | -13.35M | 44.78M | 117.27M | 4.85M | -42.45M | -31.09M |
| Earnings Per Share, Basic | $-0.67 | $2.33 | $5.99 | $0.25 | $-2.21 | $-1.72 |
| Weighted Average Number of Shares Outstanding, Basic | 19.88B | 19.34B | 19.58B | 19.33B | 19.19B | 18.29B |
| Earnings Per Share, Diluted | $-0.67 | $2.18 | $5.68 | $0.24 | $-2.21 | $-1.68 |
| Weighted Average Number of Shares Outstanding, Diluted | 19.88B | 20.29B | 20.63B | 19.93B | 19.19B | 18.29B |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 115.08M | 174.93M | 139.38M | 67.67M | 47.99M | 72.31M |
| Assets, Current | 865.41M | 832.27M | 753.92M | 352.94M | 309.32M | 331.56M |
| Assets | 1.53B | 1.56B | 1.48B | 948.60M | 905.43M | 941.77M |
| Liabilities, Current | 40.67M | 37.45M | 30.54M | 64.73M | 58.68M | 37.11M |
| Liabilities | 534.78M | 543.42M | 526.60M | 120.08M | 109.90M | 111.33M |
| Stockholders' Equity Attributable to Parent | 997.32M | 1.02B | 950.17M | 827.31M | 795.59M | 830.44M |
| Common Stock, Shares, Outstanding | 20.03M | 19.77M | 19.66M | 19.41M | 19.28M | 19.11M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 48.69M | 45.91M | 3.44M | -9.65M | -25.45M | 28.47M |
| Payments to Acquire Property, Plant, and Equipment | 228.00K | 9.00K | 443.00K | 428.00K | 214.00K | 712.00K |
| Net Cash Provided by (Used in) Investing Activities | -94.35M | -18.10M | -359.22M | -5.77M | 4.89M | -38.62M |
| Payments for Repurchase of Common Stock | — | 0 | 15.00M | — | — | 0 |
| Net Cash Provided by (Used in) Financing Activities | -14.13M | 8.33M | 419.89M | 10.25M | -4.75M | 20.39M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (LGND CIK 0000886163),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.