Ligand Pharmaceuticals Incorporated (LGND)

Ligand Pharmaceuticals Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	153.56	124.45	-4.03	52.15	-33.36	57.14
Depreciation & Amortization	33.22	33.78	35.24	36.52	51.53	51.07
Stock-Based Compensation	49.61	46.85	41.09	25.74	60.29	38.78
Other Adjustments	17.68	-143.05	5.4	-30.44	-6.29	-11.19
Change in Receivables	-14.75	-21.74	-6.46	-2.6	55.32	-28.62
Changes in Inventories	1.35	4.99	9.62	-10.87	12.06	-0.43
Changes in Accounts Payable	10.75	5.88	13.9	-4.7	-3.34	2.81
Changes in Income Taxes Payable	3.03	2.67	2.31	-1.78	1.58	-3.98
Changes in Unearned Revenue	-0.29	-0.58	-1.31	0.42	-6.28	-17.87
Changes in Other Operating Activities	-1.7	-3.89	1.29	-14.87	6.34	-8.93
Operating Cash Flow	123.5	49.36	97.05	49.58	137.85	78.8
Operating Cash Flow Growth	133.58%	-49.14%	95.75%	-64.04%	74.94%	44.36%
Capital Expenditures	-0.47	-0.45	-1.82	-3.52	-17.92	-8.76
Purchases of Investments	-895.99	-740.81	-231.58	-142.01	-51.98	-181.33
Proceeds from Sale of Investments	427.16	377.28	262.5	194.17	234.39	221.34
Payments for Business Acquisitions	-	-	-167	-10.41	-	-
Other Investing Activities	1.63	-6.22	-12.89	-49.91	-0.87	-0.73
Investing Cash Flow	-476.56	-377.32	-143.66	-11.68	163.62	30.52
Long-Term Debt Issued	-	460	-	-	-	-
Long-Term Debt Repaid	-	-	-	-76.85	-260.95	-155.76
Net Long-Term Debt Issued (Repaid)	-	460	-	-76.85	-260.95	-155.76
Issuance of Common Stock	54.39	121.8	102.73	22.45	3.43	52.7
Repurchase of Common Stock	-22.44	-137.85	-5.14	-4.55	-8.24	-24.46
Net Common Stock Issued (Repurchased)	31.95	-16.05	97.59	17.9	-4.8	28.24
Other Financing Activities	-15.53	-15.73	-0.45	-0.99	-10.24	-10.24
Financing Cash Flow	418.84	428.22	97.14	-59.95	-275.99	-137.76
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1.26	2.36	-1.17	-	-	-
Net Cash Flow	67.11	102.62	49.35	-22.05	25.48	-28.44
Free Cash Flow	123.03	48.91	95.23	46.06	119.93	70.04
Free Cash Flow Growth	151.56%	-48.64%	106.76%	-61.60%	71.23%	39.72%
FCF Margin	44.82%	18.24%	56.98%	35.07%	61.11%	29.00%
Free Cash Flow Per Share	6.03	2.41	5.21	2.59	7.11	4.06
Levered Free Cash Flow	199.45	626.85	55.2	-23.5	-250.34	-84.7
Unlevered Free Cash Flow	155.12	91.82	16.98	12.43	50.46	109.72

Updated May 8, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q