Ligand Pharmaceuticals Incorporated (LGND)

NASDAQ: LGND · Real-Time Price · USD

306.20

+7.20 (2.41%)

At close: Nov 6, 2026, 4:00 PM EST

308.00

+1.80 (0.59%)

After-hours: Nov 6, 2026, 7:59 PM EST

Ligand Pharmaceuticals Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	253.83	268.09	167.13	131.31	196.25	241.54
Revenue Growth	1.03%	60.40%	27.28%	-33.09%	-18.75%	47.68%
Gross Profit	218.61	172.36	134.63	96.27	107.34	147.26
Operating Income	36.51	47.2	23.02	9.82	3.04	66.25
Net Income	51.46	124.45	-4.03	52.15	-33.36	57.14
Earnings Per Share	2.39	6.13	-0.22	2.94	-1.98	3.32
EPS Growth	-3.97%	-	-	-	-	-

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue from Intangible Royalty Assets	158.42	132.53	95.33	83.91	72.53	48.93
Income from Financial Royalty Assets	53.38	28.47	13.44	1.05	0.39	-
Captisol	32.37	40.21	30.88	28.37	104.5	164.25
Contract Revenue and Income	9.65	66.87	27.48	17.98	18.84	-
Revenue (Total)	253.83	268.09	167.13	131.31	196.25	241.54

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	447.4	733.52	256.17	170.31	211.87	341.11
Total Debt	1,154	451.54	7.15	6.18	87.75	324.44
Net Cash (Debt)	-706.81	281.98	249.01	164.13	124.12	16.66
Net Cash Growth	-	13.24%	51.72%	32.23%	644.83%	-
Net Cash Per Share	-32.82	13.89	13.61	9.24	7.36	0.97

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	91.03	49.36	97.05	49.58	137.85	78.8
Capital Expenditures	-0.41	-0.45	-1.82	-3.52	-12.35	-8.76
Free Cash Flow	90.63	48.91	95.23	46.06	125.5	70.04
Free Cash Flow Growth	194.63%	-48.64%	106.76%	-63.30%	79.19%	39.72%

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	86.12%	64.29%	80.55%	73.31%	54.70%	60.97%
Operating Margin	14.38%	17.61%	13.77%	7.48%	1.55%	27.43%
Pretax Margin	20.77%	59.29%	1.51%	48.48%	18.35%	29.89%
Profit Margin	20.27%	46.42%	-2.41%	39.72%	-17.00%	23.66%
FCF Margin	35.70%	18.24%	56.98%	35.07%	63.95%	29.00%

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 9, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	128.04	29.90	-	23.88	-	45.18
Forward PE	43.31	35.20	53.58	35.07	298.37	298.37
P/FCF Ratio	67.58	76.09	21.26	27.04	8.99	36.86
PS Ratio	24.13	13.88	12.11	9.48	5.75	10.69