Ligand Pharmaceuticals Incorporated (LGND)

NASDAQ: LGND · Real-Time Price · USD

311.13

+9.32 (3.09%)

At close: Oct 12, 2026, 4:00 PM EDT

311.06

-0.07 (-0.02%)

After-hours: Oct 12, 2026, 7:30 PM EDT

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	Jun '26 Jun 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	290.54	268.09	167.13	131.31	196.25	241.54
Revenue Growth	54.89%	60.40%	27.28%	-33.09%	-18.75%	47.68%
Gross Profit	235.92	172.36	134.63	96.27	107.34	147.26
Operating Income	100.1	47.2	23.02	9.82	3.04	66.25
Net Income	197.22	124.45	-4.03	52.15	-33.36	57.14
Earnings Per Share	9.19	6.13	-0.22	2.94	-1.98	3.32
EPS Growth	-	-	-	-	-	-

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 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	151.16	132.53	95.33	83.91	72.53	48.93
Income from Financial Royalty Assets	36.95	28.47	13.44	1.05	0.39	-
Captisol	35.1	40.21	30.88	28.37	104.5	164.25
Contract Revenue and Income	67.34	66.87	27.48	17.98	18.84	-
Revenue (Total)	290.54	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	Jun '26 Jun 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	1,358	733.52	256.17	170.31	211.87	341.11
Total Debt	1,131	451.54	7.15	6.18	87.75	324.44
Net Cash (Debt)	226.31	281.98	249.01	164.13	124.12	16.66
Net Cash Growth	-5.42%	13.24%	51.72%	32.23%	644.83%	-
Net Cash Per Share	10.56	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	Jun '26 Jun 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	131.71	49.36	97.05	49.58	137.85	78.8
Capital Expenditures	-0.28	-0.45	-1.82	-3.52	-12.35	-8.76
Free Cash Flow	131.44	48.91	95.23	46.06	125.5	70.04
Free Cash Flow Growth	145.13%	-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	Jun '26 Jun 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	81.20%	64.29%	80.55%	73.31%	54.70%	60.97%
Operating Margin	34.45%	17.61%	13.77%	7.48%	1.55%	27.43%
Pretax Margin	81.90%	59.29%	1.51%	48.48%	18.35%	29.89%
Profit Margin	67.88%	46.42%	-2.41%	39.72%	-17.00%	23.66%
FCF Margin	45.24%	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	Oct '26 Oct 13, 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	33.84	29.90	-	23.88	-	45.18
Forward PE	45.09	35.20	53.58	35.07	298.37	298.37
P/FCF Ratio	47.19	76.09	21.26	27.04	8.99	36.86
PS Ratio	21.35	13.88	12.11	9.48	5.75	10.69