Ligand Pharmaceuticals (LGND) Financials

$106.59 +2.32 (+2.22%)

As of 04/14/2025 04:00 PM Eastern

Annual Income Statements for Ligand Pharmaceuticals

This table shows Ligand Pharmaceuticals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-33	52	-4.03
Consolidated Net Income / (Loss)	-33	52	-4.03
Net Income / (Loss) Continuing Operations	-5.22	54	-4.03
Total Pre-Tax Income	36	64	2.52
Total Operating Income	3.04	12	-23
Total Gross Profit	143	121	156
Total Revenue	196	131	167
Operating Revenue	196	131	167
Total Cost of Revenue	53	11	11
Operating Cost of Revenue	53	11	11
Total Operating Expenses	140	111	179
Selling, General & Admin Expense	70	53	79
Research & Development Expense	36	25	21
Amortization Expense	34	34	33
Other Operating Expenses / (Income)	0.00	0.00	15
Impairment Charge	0.00	0.00	31
Total Other Income / (Expense), net	33	54	25
Interest Expense	1.80	0.66	3.04
Interest & Investment Income	31	54	83
Other Income / (Expense), net	4.19	0.42	-55
Income Tax Expense	41	9.84	6.55
Net Income / (Loss) Discontinued Operations	-28	-1.67	0.00
Basic Earnings per Share	($1.98)	$3.02	($0.22)
Weighted Average Basic Shares Outstanding	16.87M	17.30M	18.29M
Diluted Earnings per Share	($1.98)	$2.94	($0.22)
Weighted Average Diluted Shares Outstanding	16.87M	17.76M	18.29M
Weighted Average Basic & Diluted Shares Outstanding	17.08M	17.71M	19.26M

This table shows Ligand Pharmaceuticals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	0.40	-17	42	2.29	-10	18	86	-52	-7.17	-31
Consolidated Net Income / (Loss)	0.40	-17	42	2.29	-10	18	86	-52	-7.17	-31
Net Income / (Loss) Continuing Operations	9.65	-15	44	2.29	-10	18	86	-52	-7.17	-31
Total Pre-Tax Income	12	24	56	3.17	-12	17	113	-65	-6.34	-39
Total Operating Income	12	-20	14	-1.98	3.08	-3.36	2.99	-19	3.14	-9.64
Total Gross Profit	59	-2.45	44	25	33	19	31	42	49	34
Total Revenue	59	50	44	26	33	28	31	42	52	43
Operating Revenue	59	50	44	26	33	28	31	42	52	43
Total Cost of Revenue	0.00	53	0.00	1.67	0.00	8.84	0.00	0.00	2.45	8.63
Total Operating Expenses	47	18	30	27	30	25	28	61	46	44
Selling, General & Admin Expense	15	31	11	11	15	16	11	18	24	26
Research & Development Expense	9.24	9.20	6.66	6.85	5.53	5.49	5.97	5.35	5.68	4.43
Amortization Expense	8.57	8.54	8.54	8.54	8.24	8.34	8.19	8.26	8.26	8.26
Other Operating Expenses / (Income)	14	-31	3.72	-	1.36	-	2.88	2.91	7.81	1.46
Total Other Income / (Expense), net	0.01	44	41	5.15	-15	23	110	-46	-9.48	-30
Interest Expense	0.33	0.24	0.24	0.28	0.00	0.13	0.14	1.27	0.74	0.89
Interest & Investment Income	-0.33	45	41	6.31	-11	18	113	-11	3.75	-22
Other Income / (Expense), net	0.68	-0.79	0.60	-0.87	-4.30	4.99	-2.19	-34	-12	-6.71
Income Tax Expense	2.71	39	12	0.88	-1.87	-1.09	27	-13	0.83	-8.11
Basic Earnings per Share	$0.02	($1.04)	$2.46	$0.13	($0.59)	$1.02	$4.86	($2.88)	($0.39)	($1.81)
Weighted Average Basic Shares Outstanding	16.89M	16.87M	17.06M	17.28M	17.38M	17.30M	17.73M	18.03M	18.42M	18.29M
Diluted Earnings per Share	$0.02	($1.04)	$2.33	$0.13	($0.59)	$1.07	$4.75	($2.88)	($0.39)	($1.70)
Weighted Average Diluted Shares Outstanding	17.13M	16.87M	17.97M	17.73M	17.38M	17.76M	18.12M	18.03M	18.42M	18.29M
Weighted Average Basic & Diluted Shares Outstanding	16.89M	17.08M	17.27M	17.36M	17.44M	17.71M	17.96M	18.27M	18.90M	19.26M

This table details how cash moves in and out of Ligand Pharmaceuticals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	25	-22	49
Net Cash From Operating Activities	138	50	97
Net Cash From Continuing Operating Activities	138	50	97
Net Income / (Loss) Continuing Operations	-33	52	-4.03
Consolidated Net Income / (Loss)	-33	52	-4.03
Depreciation Expense	52	37	35
Amortization Expense	6.27	0.66	1.28
Non-Cash Adjustments To Reconcile Net Income	27	-23	33
Changes in Operating Assets and Liabilities, net	87	-17	31
Net Cash From Investing Activities	164	-12	-144
Net Cash From Continuing Investing Activities	164	-12	-144
Purchase of Property, Plant & Equipment	-18	-3.52	-1.82
Acquisitions	-0.75	-26	-93
Purchase of Investments	-51	-127	-301
Sale and/or Maturity of Investments	234	194	270
Other Investing Activities, net	-0.87	-50	-17
Net Cash From Financing Activities	-276	-60	97
Net Cash From Continuing Financing Activities	-276	-60	97
Repayment of Debt	-261	-78	-0.43
Payment of Dividends	-6.80	0.00	0.00
Issuance of Common Equity	0.00	0.00	37
Other Financing Activities, net	-8.24	18	60
Cash Interest Paid	1.43	0.29	0.26
Cash Income Taxes Paid	12	8.77	19

This table details how cash moves in and out of Ligand Pharmaceuticals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-1.16	41	44	-60	-8.59	3.10	27	-32	45	8.69
Net Cash From Operating Activities	20	53	34	-0.08	7.65	8.07	19	13	37	28
Net Cash From Continuing Operating Activities	20	53	34	-0.08	7.65	8.07	19	13	37	28
Net Income / (Loss) Continuing Operations	0.40	-17	42	2.29	-10	18	86	-52	-7.17	-31
Consolidated Net Income / (Loss)	0.40	-17	42	2.29	-10	18	86	-52	-7.17	-31
Depreciation Expense	13	11	9.50	9.50	8.61	8.92	8.77	8.85	8.99	8.63
Amortization Expense	1.84	1.02	0.26	0.14	0.06	0.21	0.41	0.17	0.57	0.14
Non-Cash Adjustments To Reconcile Net Income	12	-14	-35	3.56	22	-13	-104	85	25	27
Changes in Operating Assets and Liabilities, net	-7.61	73	17	-16	-13	-5.78	27	-29	9.59	24
Net Cash From Investing Activities	19	-7.28	11	7.56	-20	-10	-3.78	-55	-47	-39
Net Cash From Continuing Investing Activities	19	-7.28	11	7.56	-20	-10	-3.78	-55	-47	-39
Purchase of Property, Plant & Equipment	-4.33	-2.13	-2.41	-0.20	-0.49	-0.42	-0.11	-0.41	-0.60	-0.71
Purchase of Investments	-0.58	-12	-40	-49	-18	-20	-78	-99	-32	-93
Sale and/or Maturity of Investments	25	7.01	53	57	25	60	75	47	95	52
Other Investing Activities, net	-0.91	0.01	0.13	0.08	0.14	-50	-0.50	-1.97	-17	2.54
Net Cash From Financing Activities	-41	-5.30	-0.78	-68	3.27	5.32	12	9.49	55	20
Net Cash From Continuing Financing Activities	-41	-5.30	-0.78	-68	3.27	5.32	12	9.49	55	20
Repayment of Debt	-38	0.04	0.00	-77	-	-0.95	-0.04	-0.06	-0.21	-0.12
Issuance of Common Equity	-	-	-	-	-	-	-	-	-	3.11
Other Financing Activities, net	0.80	-2.71	-0.78	9.10	3.27	6.26	12	9.55	21	17
Cash Interest Paid	0.10	0.29	0.00	0.29	-	-	0.06	0.05	0.15	0.00
Cash Income Taxes Paid	6.61	5.01	-	-	0.01	8.76	-	-	12	1.86

This table presents Ligand Pharmaceuticals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	763	787	942
Total Current Assets	264	237	332
Cash & Equivalents	45	23	72
Short-Term Investments	167	147	184
Accounts Receivable	30	33	38
Inventories, net	13	24	14
Prepaid Expenses	1.13	1.18	1.93
Current Deferred & Refundable Income Taxes	4.61	6.40	4.07
Other Current Assets	2.27	2.66	17
Plant, Property, & Equipment, net	12	16	15
Total Noncurrent Assets	487	534	595
Long-Term Investments	3.00	49	11
Noncurrent Note & Lease Receivables	4.10	3.39	2.77
Goodwill	106	103	105
Intangible Assets	342	300	267
Noncurrent Deferred & Refundable Income Taxes	8.53	0.21	0.07
Other Noncurrent Operating Assets	23	78	209
Total Liabilities & Shareholders' Equity	763	787	942
Total Liabilities	165	86	111
Total Current Liabilities	99	17	37
Accounts Payable	5.31	2.43	5.23
Accrued Expenses	16	12	28
Current Deferred Revenue	0.36	1.22	1.28
Current Deferred & Payable Income Tax Liabilities	-	0.00	1.20
Other Current Liabilities	0.77	0.67	1.50
Total Noncurrent Liabilities	66	70	74
Noncurrent Deferred Revenue	0.04	1.44	2.25
Noncurrent Deferred & Payable Income Tax Liabilities	31	32	33
Other Noncurrent Operating Liabilities	36	36	39
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	597	701	830
Total Preferred & Common Equity	597	701	830
Preferred Stock	0.00	0.00	0.00
Total Common Equity	597	701	830
Common Stock	148	199	337
Retained Earnings	451	503	499
Accumulated Other Comprehensive Income / (Loss)	-0.98	-0.82	-5.94

This table presents Ligand Pharmaceuticals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,051	811	758	769	914	866	955
Total Current Assets	220	328	277	254	369	312	309
Cash & Equivalents	4.12	89	28	19	50	18	64
Short-Term Investments	117	194	191	171	261	209	156
Accounts Receivable	65	29	28	36	28	37	34
Inventories, net	22	14	27	25	21	19	17
Current Deferred & Refundable Income Taxes	0.79	0.00	0.00	0.00	0.00	0.00	7.81
Other Current Assets	11	2.33	2.77	2.10	7.31	27	31
Plant, Property, & Equipment, net	33	12	11	16	15	15	15
Total Noncurrent Assets	797	471	470	499	530	539	630
Long-Term Investments	-	-	-	14	47	13	13
Noncurrent Note & Lease Receivables	14	3.94	3.76	3.57	3.22	3.09	2.94
Goodwill	181	106	106	104	105	105	105
Intangible Assets	517	334	325	315	291	283	275
Noncurrent Deferred & Refundable Income Taxes	36	0.88	8.53	8.53	0.00	0.19	0.08
Other Noncurrent Operating Assets	49	27	27	54	83	134	234
Total Liabilities & Shareholders' Equity	1,051	811	758	769	914	866	955
Total Liabilities	234	165	93	101	107	91	114
Total Current Liabilities	135	99	29	16	18	19	25
Accounts Payable	16	6.14	9.58	2.48	1.89	1.79	4.69
Accrued Expenses	19	15	7.29	11	12	12	16
Current Deferred Revenue	9.55	0.26	-	-	1.23	1.20	1.15
Current Deferred & Payable Income Tax Liabilities	9.70	-	11	1.20	1.14	2.09	2.11
Other Current Liabilities	4.17	0.77	1.13	1.41	1.13	1.31	1.22
Total Noncurrent Liabilities	99	66	64	86	90	73	89
Noncurrent Deferred Revenue	5.54	-	-	-	3.07	2.70	2.51
Noncurrent Deferred & Payable Income Tax Liabilities	30	30	28	33	51	30	46
Other Noncurrent Operating Liabilities	64	36	36	53	36	40	40
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	816	646	665	668	807	775	841
Total Preferred & Common Equity	816	646	665	668	807	775	841
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	816	646	665	668	807	775	841
Common Stock	349	154	171	184	218	239	309
Retained Earnings	468	493	495	485	589	537	530
Accumulated Other Comprehensive Income / (Loss)	-1.06	-0.94	-0.97	-0.94	-0.91	-0.94	1.75

This table displays calculated financial ratios and metrics derived from Ligand Pharmaceuticals' official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	-18.75%	-33.09%	27.28%
EBITDA Growth	-61.47%	-23.82%	-182.77%
EBIT Growth	-92.49%	71.11%	-727.17%
NOPAT Growth	-100.40%	2,393.77%	258.54%
Net Income Growth	-158.39%	256.33%	-107.73%
EPS Growth	-159.82%	248.48%	-107.48%
Operating Cash Flow Growth	74.94%	-64.04%	95.75%
Free Cash Flow Firm Growth	-45.25%	-108.59%	-286.33%
Invested Capital Growth	-23.19%	4.78%	17.06%
Revenue Q/Q Growth	7.39%	-14.51%	9.65%
EBITDA Q/Q Growth	-49.06%	64.84%	-72.29%
EBIT Q/Q Growth	-88.65%	221.64%	-29.64%
NOPAT Q/Q Growth	-100.93%	805.04%	388.21%
Net Income Q/Q Growth	-56.68%	216.45%	-108.91%
EPS Q/Q Growth	-55.91%	254.22%	-108.63%
Operating Cash Flow Q/Q Growth	23.06%	-47.80%	26.63%
Free Cash Flow Firm Q/Q Growth	69.59%	-103.87%	70.87%
Invested Capital Q/Q Growth	-40.46%	3.86%	-7.40%
Profitability Metrics	-	-	-
Gross Margin	73.08%	91.99%	93.37%
EBITDA Margin	33.14%	37.73%	-24.53%
Operating Margin	1.55%	9.09%	-13.53%
EBIT Margin	3.68%	9.41%	-46.38%
Profit (Net Income) Margin	-17.00%	39.72%	-2.41%
Tax Burden Percent	-92.64%	81.93%	-160.13%
Interest Burden Percent	498.49%	515.01%	-3.25%
Effective Tax Rate	114.49%	15.46%	260.13%
Return on Invested Capital (ROIC)	-0.08%	2.15%	6.93%
ROIC Less NNEP Spread (ROIC-NNEP)	18.14%	-21.36%	23.46%
Return on Net Nonoperating Assets (RNNOA)	-4.62%	5.89%	-7.46%
Return on Equity (ROE)	-4.70%	8.03%	-0.53%
Cash Return on Invested Capital (CROIC)	26.15%	-2.53%	-8.78%
Operating Return on Assets (OROA)	0.70%	1.60%	-8.97%
Return on Assets (ROA)	-3.24%	6.73%	-0.47%
Return on Common Equity (ROCE)	-4.70%	8.03%	-0.53%
Return on Equity Simple (ROE_SIMPLE)	-5.58%	7.44%	-0.49%
Net Operating Profit after Tax (NOPAT)	-0.44	10	36
NOPAT Margin	-0.22%	7.69%	21.66%
Net Nonoperating Expense Percent (NNEP)	-18.22%	23.51%	-16.53%
Return On Investment Capital (ROIC_SIMPLE)	-0.07%	1.44%	4.36%
Cost of Revenue to Revenue	26.92%	8.01%	6.63%
SG&A Expenses to Revenue	35.70%	40.20%	47.06%
R&D to Revenue	18.39%	18.69%	12.82%
Operating Expenses to Revenue	71.53%	84.52%	106.90%
Earnings before Interest and Taxes (EBIT)	7.22	12	-78
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	65	50	-41
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.89	1.78	2.44
Price to Tangible Book Value (P/TBV)	7.56	4.18	4.42
Price to Revenue (P/Rev)	5.75	9.48	12.11
Price to Earnings (P/E)	0.00	23.88	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	4.19%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.16	2.13	3.12
Enterprise Value to Revenue (EV/Rev)	5.05	7.81	10.52
Enterprise Value to EBITDA (EV/EBITDA)	15.23	20.70	0.00
Enterprise Value to EBIT (EV/EBIT)	137.09	82.97	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	101.59	48.55
Enterprise Value to Operating Cash Flow (EV/OCF)	7.18	20.69	18.11
Enterprise Value to Free Cash Flow (EV/FCFF)	7.16	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.13	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00
Financial Leverage	-0.25	-0.28	-0.32
Leverage Ratio	1.45	1.19	1.13
Compound Leverage Factor	7.24	6.15	-0.04
Debt to Total Capital	11.38%	0.00%	0.00%
Short-Term Debt to Total Capital	11.38%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	88.62%	100.00%	100.00%
Debt to EBITDA	1.18	0.00	0.00
Net Debt to EBITDA	-2.12	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00
Debt to NOPAT	-174.25	0.00	0.00
Net Debt to NOPAT	313.93	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00
Altman Z-Score	5.47	10.11	11.93
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	2.67	14.15	8.93
Quick Ratio	2.45	12.11	7.94
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	138	-12	-46
Operating Cash Flow to CapEx	769.12%	1,408.04%	5,329.32%
Free Cash Flow to Firm to Interest Expense	76.84	-18.11	-15.11
Operating Cash Flow to Interest Expense	76.63	75.57	31.95
Operating Cash Flow Less CapEx to Interest Expense	66.66	70.21	31.36
Efficiency Ratios	-	-	-
Asset Turnover	0.19	0.17	0.19
Accounts Receivable Turnover	3.39	4.15	4.69
Inventory Turnover	2.60	0.56	0.58
Fixed Asset Turnover	15.29	9.35	10.87
Accounts Payable Turnover	7.71	2.72	2.89
Days Sales Outstanding (DSO)	107.76	88.03	77.85
Days Inventory Outstanding (DIO)	140.33	646.93	627.61
Days Payable Outstanding (DPO)	47.36	134.27	126.24
Cash Conversion Cycle (CCC)	200.73	600.69	579.22
Capital & Investment Metrics	-	-	-
Invested Capital	459	481	563
Invested Capital Turnover	0.37	0.28	0.32
Increase / (Decrease) in Invested Capital	-139	22	82
Enterprise Value (EV)	990	1,026	1,758
Market Capitalization	1,128	1,245	2,025
Book Value per Share	$35.37	$40.20	$43.95
Tangible Book Value per Share	$8.84	$17.09	$24.27
Total Capital	674	701	830
Total Debt	77	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00
Net Debt	-138	-220	-267
Capital Expenditures (CapEx)	18	3.52	1.82
Debt-free, Cash-free Net Working Capital (DFCFNWC)	30	50	38
Debt-free Net Working Capital (DFNWC)	241	221	294
Net Working Capital (NWC)	165	221	294
Net Nonoperating Expense (NNE)	33	-42	40
Net Nonoperating Obligations (NNO)	-138	-220	-267
Total Depreciation and Amortization (D&A)	58	37	37
Debt-free, Cash-free Net Working Capital to Revenue	15.09%	38.33%	22.91%
Debt-free Net Working Capital to Revenue	123.05%	168.03%	176.18%
Net Working Capital to Revenue	83.97%	168.03%	176.18%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($1.98)	$3.02	($0.22)
Adjusted Weighted Average Basic Shares Outstanding	16.87M	17.30M	18.29M
Adjusted Diluted Earnings per Share	($1.98)	$2.94	($0.22)
Adjusted Weighted Average Diluted Shares Outstanding	16.87M	17.76M	18.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	17.08M	17.71M	19.26M
Normalized Net Operating Profit after Tax (NOPAT)	2.13	10	5.58
Normalized NOPAT Margin	1.08%	7.69%	3.34%
Pre Tax Income Margin	18.35%	48.48%	1.51%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	4.02	18.84	-25.53
NOPAT to Interest Expense	-0.24	15.39	11.92
EBIT Less CapEx to Interest Expense	-5.95	13.48	-26.13
NOPAT Less CapEx to Interest Expense	-10.21	10.02	11.32
Payout Ratios	-	-	-
Dividend Payout Ratio	-20.38%	0.00%	0.00%
Augmented Payout Ratio	-20.38%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Ligand Pharmaceuticals' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-8.66%	36.60%	20.44%	-47.40%	-44.50%	-44.22%	-29.56%	57.52%	57.64%	52.35%
EBITDA Growth	-19.43%	-116.21%	23.46%	-73.46%	-73.73%	223.09%	-59.43%	-743.45%	-97.17%	-170.51%
EBIT Growth	-26.00%	-158.76%	237.47%	-126.67%	-109.39%	107.81%	-94.62%	-1,742.54%	-665.30%	-1,102.15%
NOPAT Growth	-31.79%	-58.40%	647.14%	-111.37%	-77.64%	-129.52%	-79.66%	-833.62%	2.11%	-88.84%
Net Income Growth	-97.06%	-222.84%	372.66%	355.87%	-2,642.82%	204.02%	105.34%	-2,366.86%	30.19%	-270.93%
EPS Growth	-97.50%	-215.15%	356.04%	360.00%	-3,050.00%	202.88%	103.86%	-2,315.38%	33.90%	-258.88%
Operating Cash Flow Growth	2.32%	93.44%	-34.73%	-100.69%	-62.68%	-84.92%	-44.82%	16,336.59%	377.77%	253.02%
Free Cash Flow Firm Growth	110.36%	-12.21%	6,455.36%	645.71%	606.88%	-116.94%	-101.86%	-131.85%	-146.02%	-247.73%
Invested Capital Growth	-4.25%	-23.19%	-42.48%	-42.05%	-39.93%	4.78%	1.93%	20.02%	31.28%	17.06%
Revenue Q/Q Growth	18.14%	-14.93%	-12.71%	-40.05%	24.66%	-14.50%	10.24%	34.07%	24.76%	-17.37%
EBITDA Q/Q Growth	11.00%	-130.83%	381.25%	-72.42%	9.86%	44.44%	3.55%	-537.49%	100.48%	-3,692.89%
EBIT Q/Q Growth	21.55%	-260.49%	170.88%	-119.29%	57.21%	233.47%	-42.36%	-6,710.93%	82.23%	-74.78%
NOPAT Q/Q Growth	-23.54%	25.60%	-7.81%	-112.84%	250.45%	-265.80%	163.51%	-689.31%	116.46%	-406.62%
Net Income Q/Q Growth	145.14%	-4,427.97%	339.91%	-94.54%	-548.60%	277.05%	373.60%	-160.26%	86.18%	-333.46%
EPS Q/Q Growth	140.00%	-5,300.00%	324.04%	-94.42%	-553.85%	281.36%	343.93%	-160.63%	86.46%	-335.90%
Operating Cash Flow Q/Q Growth	72.50%	160.98%	-36.51%	-100.24%	9,424.39%	5.48%	132.26%	-28.92%	174.37%	-22.06%
Free Cash Flow Firm Q/Q Growth	1.60%	243.53%	123.15%	-4.26%	-3.69%	-108.23%	75.54%	-1,542.17%	-39.15%	37.78%
Invested Capital Q/Q Growth	0.27%	-40.46%	-4.11%	1.23%	3.94%	3.86%	-6.72%	19.18%	13.70%	-7.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	-4.85%	100.00%	93.67%	100.00%	68.53%	100.00%	100.00%	95.27%	79.85%
EBITDA Margin	47.85%	-17.34%	55.86%	25.70%	22.65%	38.26%	32.17%	-104.98%	0.41%	-17.71%
Operating Margin	20.84%	-39.89%	32.30%	-7.52%	9.36%	-11.95%	9.65%	-45.99%	6.07%	-22.51%
EBIT Margin	21.98%	-41.47%	33.67%	-10.83%	-3.72%	5.80%	2.57%	-126.71%	-18.05%	-38.18%
Profit (Net Income) Margin	0.68%	-34.70%	95.38%	8.69%	-31.26%	64.72%	278.07%	-124.99%	-13.84%	-72.62%
Tax Burden Percent	3.27%	-72.43%	75.53%	72.22%	84.59%	106.38%	75.93%	79.39%	113.14%	79.31%
Interest Burden Percent	94.90%	-115.55%	375.04%	-111.03%	993.78%	1,048.25%	14,252.14%	124.26%	67.78%	239.83%
Effective Tax Rate	21.93%	160.21%	21.47%	27.78%	0.00%	-6.38%	24.07%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	3.77%	8.92%	8.57%	-1.61%	1.63%	-3.55%	1.95%	-8.76%	1.21%	-5.04%
ROIC Less NNEP Spread (ROIC-NNEP)	39.88%	25.29%	-17.83%	-4.56%	11.60%	-15.71%	-27.82%	8.03%	5.49%	4.96%
Return on Net Nonoperating Assets (RNNOA)	-1.25%	-6.44%	2.89%	0.78%	-1.95%	4.33%	10.79%	-2.56%	-1.59%	-1.58%
Return on Equity (ROE)	2.52%	2.47%	11.46%	-0.82%	-0.32%	0.78%	12.74%	-11.32%	-0.38%	-6.62%
Cash Return on Invested Capital (CROIC)	10.34%	26.15%	55.21%	53.57%	49.66%	-2.53%	-1.79%	-20.85%	-29.40%	-8.78%
Operating Return on Assets (OROA)	3.46%	-7.90%	7.16%	-2.13%	-0.63%	0.98%	0.35%	-20.82%	-3.19%	-7.38%
Return on Assets (ROA)	0.11%	-6.61%	20.28%	1.70%	-5.28%	10.97%	38.14%	-20.54%	-2.45%	-14.04%
Return on Common Equity (ROCE)	2.52%	2.47%	11.46%	-0.82%	-0.32%	0.78%	12.74%	-11.32%	-0.38%	-6.62%
Return on Equity Simple (ROE_SIMPLE)	-2.61%	0.00%	3.71%	4.08%	2.47%	0.00%	11.95%	5.44%	5.38%	0.00%
Net Operating Profit after Tax (NOPAT)	9.63	12	11	-1.43	2.15	-3.57	2.27	-13	2.20	-6.75
NOPAT Margin	16.27%	24.02%	25.37%	-5.43%	6.56%	-12.71%	7.32%	-32.19%	4.25%	-15.76%
Net Nonoperating Expense Percent (NNEP)	-36.11%	-16.38%	26.39%	2.95%	-9.97%	12.16%	29.77%	-16.79%	-4.29%	-10.00%
Return On Investment Capital (ROIC_SIMPLE)	-	1.79%	-	-	-	-0.51%	-	-	-	-0.81%
Cost of Revenue to Revenue	0.00%	104.85%	0.00%	6.33%	0.00%	31.47%	0.00%	0.00%	4.73%	20.15%
SG&A Expenses to Revenue	25.19%	61.79%	24.68%	42.81%	44.59%	56.91%	35.35%	42.43%	47.24%	59.81%
R&D to Revenue	15.60%	18.25%	15.15%	26.00%	16.83%	19.53%	19.28%	12.89%	10.95%	10.34%
Operating Expenses to Revenue	79.16%	35.04%	67.70%	101.19%	90.64%	88.03%	90.35%	145.99%	89.21%	102.36%
Earnings before Interest and Taxes (EBIT)	13	-21	15	-2.86	-1.22	1.63	0.80	-53	-9.35	-16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	28	-8.74	25	6.78	7.44	11	9.97	-44	0.21	-7.58
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.78	1.89	1.94	1.87	1.56	1.78	1.60	1.95	2.17	2.44
Price to Tangible Book Value (P/TBV)	12.31	7.56	6.08	5.33	4.17	4.18	3.16	3.91	3.97	4.42
Price to Revenue (P/Rev)	7.96	5.75	6.17	6.92	6.77	9.48	10.94	11.34	12.00	12.11
Price to Earnings (P/E)	0.00	0.00	52.40	45.86	63.10	23.88	13.43	35.92	40.42	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	1.91%	2.18%	1.58%	4.19%	7.44%	2.78%	2.47%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.83	2.16	2.38	2.30	1.80	2.13	2.09	2.38	2.62	3.12
Enterprise Value to Revenue (EV/Rev)	7.71	5.05	5.16	5.70	5.44	7.81	7.92	9.54	10.47	10.52
Enterprise Value to EBITDA (EV/EBITDA)	11.04	15.23	15.07	20.15	27.80	20.70	27.70	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	22.13	137.09	59.53	251.67	0.00	82.97	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	29.82	0.00	136.38	533.65	0.00	101.59	1,630.29	0.00	0.00	48.55
Enterprise Value to Operating Cash Flow (EV/OCF)	12.58	7.18	8.77	9.52	8.80	20.69	27.26	26.67	20.82	18.11
Enterprise Value to Free Cash Flow (EV/FCFF)	17.29	7.16	3.15	3.15	2.72	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.09	0.13	0.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.03	-0.25	-0.16	-0.17	-0.17	-0.28	-0.39	-0.32	-0.29	-0.32
Leverage Ratio	1.43	1.45	1.33	1.25	1.23	1.19	1.19	1.13	1.14	1.13
Compound Leverage Factor	1.35	-1.68	4.99	-1.39	12.19	12.51	169.21	1.40	0.77	2.71
Debt to Total Capital	8.58%	11.38%	10.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	8.58%	11.38%	10.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	91.42%	88.62%	89.38%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.60	1.18	1.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-0.35	-2.12	-2.95	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	1.62	-174.25	9.97	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	-0.95	313.93	-26.73	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	4.66	5.35	6.08	9.55	7.61	10.06	8.73	11.19	10.91	12.15
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.63	2.67	3.32	9.42	16.15	14.15	20.70	16.82	12.49	8.93
Quick Ratio	1.38	2.45	3.15	8.41	14.40	12.11	19.03	14.24	10.25	7.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	44	151	336	322	310	-26	-6.25	-103	-143	-89
Operating Cash Flow to CapEx	473.30%	2,509.24%	1,406.30%	-40.39%	1,570.02%	1,934.05%	17,840.00%	3,263.24%	6,129.19%	3,998.74%
Free Cash Flow to Firm to Interest Expense	132.19	628.21	1,401.86	1,134.23	310,236.60	-195.00	-44.31	-80.92	-192.68	-100.15
Operating Cash Flow to Interest Expense	61.71	222.80	141.45	-0.29	7,646.00	61.56	132.85	10.50	49.30	32.10
Operating Cash Flow Less CapEx to Interest Expense	48.67	213.92	131.39	-1.00	7,159.00	58.38	132.11	10.18	48.49	31.30
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.16	0.19	0.21	0.20	0.17	0.17	0.14	0.16	0.18	0.19
Accounts Receivable Turnover	2.82	3.39	5.74	3.99	3.04	4.15	4.11	4.08	4.34	4.69
Inventory Turnover	0.43	2.60	2.67	2.11	2.28	0.56	0.59	0.39	0.54	0.58
Fixed Asset Turnover	7.01	15.29	11.22	8.50	6.19	9.35	8.80	10.13	9.75	10.87
Accounts Payable Turnover	1.04	7.71	8.06	3.79	5.94	2.72	2.62	1.55	3.15	2.89
Days Sales Outstanding (DSO)	129.33	107.76	63.59	91.58	120.21	88.03	88.88	89.52	84.20	77.85
Days Inventory Outstanding (DIO)	842.48	140.33	136.89	173.07	159.80	646.93	613.68	940.63	680.93	627.61
Days Payable Outstanding (DPO)	352.09	47.36	45.28	96.23	61.49	134.27	139.38	234.75	115.86	126.24
Cash Conversion Cycle (CCC)	619.72	200.73	155.21	168.42	218.52	600.69	563.19	795.40	649.27	579.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	771	459	440	446	463	481	449	535	608	563
Invested Capital Turnover	0.23	0.37	0.34	0.30	0.25	0.28	0.27	0.27	0.28	0.32
Increase / (Decrease) in Invested Capital	-34	-139	-325	-324	-308	22	8.52	89	145	82
Enterprise Value (EV)	1,409	990	1,050	1,026	835	1,026	937	1,274	1,596	1,758
Market Capitalization	1,454	1,128	1,256	1,245	1,040	1,245	1,294	1,514	1,829	2,025
Book Value per Share	$48.35	$35.37	$37.85	$38.49	$38.48	$40.20	$45.55	$43.15	$46.04	$43.95
Tangible Book Value per Share	$6.99	$8.84	$12.11	$13.54	$14.36	$17.09	$23.15	$21.53	$25.24	$24.27
Total Capital	893	674	723	665	668	701	807	775	841	830
Total Debt	77	77	77	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-45	-138	-206	-219	-204	-220	-358	-240	-233	-267
Capital Expenditures (CapEx)	4.33	2.13	2.41	0.20	0.49	0.42	0.11	0.41	0.60	0.71
Debt-free, Cash-free Net Working Capital (DFCFNWC)	40	30	23	28	48	50	41	67	65	38
Debt-free Net Working Capital (DFNWC)	162	241	306	247	238	221	351	294	285	294
Net Working Capital (NWC)	85	165	229	247	238	221	351	294	285	294
Net Nonoperating Expense (NNE)	9.23	30	-31	-3.72	12	-22	-84	39	9.37	24
Net Nonoperating Obligations (NNO)	-45	-138	-206	-219	-204	-220	-358	-240	-233	-267
Total Depreciation and Amortization (D&A)	15	12	9.76	9.63	8.67	9.12	9.17	9.02	9.56	8.76
Debt-free, Cash-free Net Working Capital to Revenue	22.10%	15.09%	11.48%	15.72%	31.10%	38.33%	34.23%	50.02%	42.63%	22.91%
Debt-free Net Working Capital to Revenue	88.53%	123.05%	150.24%	137.44%	155.13%	168.03%	296.75%	220.03%	186.73%	176.18%
Net Working Capital to Revenue	46.62%	83.97%	112.55%	137.44%	155.13%	168.03%	296.75%	220.03%	186.73%	176.18%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.02	($1.04)	$2.46	$0.13	($0.59)	$1.02	$4.86	($2.88)	($0.39)	($1.81)
Adjusted Weighted Average Basic Shares Outstanding	16.89M	16.87M	17.06M	17.28M	17.38M	17.30M	17.73M	18.03M	18.42M	18.29M
Adjusted Diluted Earnings per Share	$0.02	($1.04)	$2.33	$0.13	($0.59)	$1.07	$4.75	($2.88)	($0.39)	($1.70)
Adjusted Weighted Average Diluted Shares Outstanding	17.13M	16.87M	17.97M	17.73M	17.38M	17.76M	18.12M	18.03M	18.42M	18.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	16.89M	17.08M	17.27M	17.36M	17.44M	17.71M	17.96M	18.27M	18.90M	19.26M
Normalized Net Operating Profit after Tax (NOPAT)	9.63	-14	11	-1.43	2.15	-2.35	2.27	5.17	2.20	-6.75
Normalized NOPAT Margin	16.27%	-27.93%	25.37%	-5.43%	6.56%	-8.36%	7.32%	12.46%	4.25%	-15.76%
Pre Tax Income Margin	20.86%	47.91%	126.28%	12.03%	-36.95%	60.84%	366.22%	-157.45%	-12.23%	-91.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	39.21	-87.05	61.70	-10.06	-1,222.00	12.45	5.65	-41.50	-12.62	-18.43
NOPAT to Interest Expense	29.02	50.42	46.48	-5.04	2,154.60	-27.27	16.09	-10.54	2.97	-7.61
EBIT Less CapEx to Interest Expense	26.17	-95.93	51.64	-10.77	-1,709.00	9.27	4.90	-41.82	-13.43	-19.23
NOPAT Less CapEx to Interest Expense	15.98	41.54	36.42	-5.76	1,667.60	-30.45	15.35	-10.87	2.16	-8.41
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-20.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-20.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Ligand Pharmaceuticals' Financials

When does Ligand Pharmaceuticals's financial year end?

According to the most recent income statement we have on file, Ligand Pharmaceuticals' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Ligand Pharmaceuticals' net income changed over the last 2 years?

Ligand Pharmaceuticals' net income appears to be on an upward trend, with a most recent value of -$4.03 million in 2024, falling from -$33.36 million in 2022. The previous period was $52.15 million in 2023.

What is Ligand Pharmaceuticals's operating income?

Ligand Pharmaceuticals's total operating income in 2024 was -$22.61 million, based on the following breakdown:

Total Gross Profit: $156.06 million
Total Operating Expenses: $178.67 million

How has Ligand Pharmaceuticals revenue changed over the last 2 years?

Over the last 2 years, Ligand Pharmaceuticals' total revenue changed from $196.25 million in 2022 to $167.13 million in 2024, a change of -14.8%.

How much debt does Ligand Pharmaceuticals have?

Ligand Pharmaceuticals' total liabilities were at $111.34 million at the end of 2024, a 29.0% increase from 2023, and a 32.6% decrease since 2022.

How much cash does Ligand Pharmaceuticals have?

In the past 2 years, Ligand Pharmaceuticals' cash and equivalents has ranged from $22.95 million in 2023 to $72.31 million in 2024, and is currently $72.31 million as of their latest financial filing in 2024.

How has Ligand Pharmaceuticals' book value per share changed over the last 2 years?

Over the last 2 years, Ligand Pharmaceuticals' book value per share changed from 35.37 in 2022 to 43.95 in 2024, a change of 24.3%.

Remove Ads

Related Companies

This page (NASDAQ:LGND) was last updated on 4/15/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Ligand Pharmaceuticals (LGND) Financials

Frequently Asked Questions About Ligand Pharmaceuticals' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Ligand Pharmaceuticals (LGND) Financials

Annual Income Statements for Ligand Pharmaceuticals

Quarterly Income Statements for Ligand Pharmaceuticals

Annual Cash Flow Statements for Ligand Pharmaceuticals

Quarterly Cash Flow Statements for Ligand Pharmaceuticals

Annual Balance Sheets for Ligand Pharmaceuticals

Quarterly Balance Sheets for Ligand Pharmaceuticals

Annual Metrics and Ratios for Ligand Pharmaceuticals

Quarterly Metrics and Ratios for Ligand Pharmaceuticals

Frequently Asked Questions About Ligand Pharmaceuticals' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools