Ligand Pharmaceuticals (LGND) Financials

$101.60 +0.31 (+0.31%)

Closing price 05/23/2025 04:00 PM Eastern

Extended Trading

$101.72 +0.12 (+0.12%)

As of 05/23/2025 04:20 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	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-4.03	52	-33
Consolidated Net Income / (Loss)	-4.03	52	-33
Net Income / (Loss) Continuing Operations	-4.03	54	-5.22
Total Pre-Tax Income	2.52	64	36
Total Operating Income	-23	12	3.04
Total Gross Profit	156	121	143
Total Revenue	167	131	196
Operating Revenue	167	131	196
Total Cost of Revenue	11	11	53
Operating Cost of Revenue	11	11	53
Total Operating Expenses	179	111	140
Selling, General & Admin Expense	79	53	70
Research & Development Expense	21	25	36
Amortization Expense	33	34	34
Other Operating Expenses / (Income)	15	0.00	0.00
Impairment Charge	31	0.00	0.00
Total Other Income / (Expense), net	25	54	33
Interest Expense	3.04	0.66	1.80
Interest & Investment Income	83	54	31
Other Income / (Expense), net	-55	0.42	4.19
Income Tax Expense	6.55	9.84	41
Net Income / (Loss) Discontinued Operations	0.00	-1.67	-28
Basic Earnings per Share	($0.22)	$3.02	($1.98)
Weighted Average Basic Shares Outstanding	18.29M	17.30M	16.87M
Diluted Earnings per Share	($0.22)	$2.94	($1.98)
Weighted Average Diluted Shares Outstanding	18.29M	17.76M	16.87M
Weighted Average Basic & Diluted Shares Outstanding	19.26M	17.71M	17.08M

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-31	-7.17	-52	86	18	-10	2.29	42	-17	0.40
Consolidated Net Income / (Loss)	-31	-7.17	-52	86	18	-10	2.29	42	-17	0.40
Net Income / (Loss) Continuing Operations	-31	-7.17	-52	86	18	-10	2.29	44	-15	9.65
Total Pre-Tax Income	-39	-6.34	-65	113	17	-12	3.17	56	24	12
Total Operating Income	-9.64	3.14	-19	2.99	-3.36	3.08	-1.98	14	-20	12
Total Gross Profit	34	49	42	31	19	33	25	44	-2.45	59
Total Revenue	43	52	42	31	28	33	26	44	50	59
Operating Revenue	43	52	42	31	28	33	26	44	50	59
Total Cost of Revenue	8.63	2.45	0.00	0.00	8.84	0.00	1.67	0.00	53	0.00
Total Operating Expenses	44	46	61	28	25	30	27	30	18	47
Selling, General & Admin Expense	26	24	18	11	16	15	11	11	31	15
Research & Development Expense	4.43	5.68	5.35	5.97	5.49	5.53	6.85	6.66	9.20	9.24
Amortization Expense	8.26	8.26	8.26	8.19	8.34	8.24	8.54	8.54	8.54	8.57
Other Operating Expenses / (Income)	1.46	7.81	2.91	2.88	-	1.36	-	3.72	-31	14
Total Other Income / (Expense), net	-30	-9.48	-46	110	23	-15	5.15	41	44	0.01
Interest Expense	0.89	0.74	1.27	0.14	0.13	0.00	0.28	0.24	0.24	0.33
Interest & Investment Income	-22	3.75	-11	113	18	-11	6.31	41	45	-0.33
Other Income / (Expense), net	-6.71	-12	-34	-2.19	4.99	-4.30	-0.87	0.60	-0.79	0.68
Income Tax Expense	-8.11	0.83	-13	27	-1.09	-1.87	0.88	12	39	2.71
Basic Earnings per Share	($1.81)	($0.39)	($2.88)	$4.86	$1.02	($0.59)	$0.13	$2.46	($1.04)	$0.02
Weighted Average Basic Shares Outstanding	18.29M	18.42M	18.03M	17.73M	17.30M	17.38M	17.28M	17.06M	16.87M	16.89M
Diluted Earnings per Share	($1.70)	($0.39)	($2.88)	$4.75	$1.07	($0.59)	$0.13	$2.33	($1.04)	$0.02
Weighted Average Diluted Shares Outstanding	18.29M	18.42M	18.03M	18.12M	17.76M	17.38M	17.73M	17.97M	16.87M	17.13M
Weighted Average Basic & Diluted Shares Outstanding	19.26M	18.90M	18.27M	17.96M	17.71M	17.44M	17.36M	17.27M	17.08M	16.89M

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

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	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	8.69	45	-32	27	3.10	-8.59	-60	44	41	-1.16
Net Cash From Operating Activities	28	37	13	19	8.07	7.65	-0.08	34	53	20
Net Cash From Continuing Operating Activities	28	37	13	19	8.07	7.65	-0.08	34	53	20
Net Income / (Loss) Continuing Operations	-31	-7.17	-52	86	18	-10	2.29	42	-17	0.40
Consolidated Net Income / (Loss)	-31	-7.17	-52	86	18	-10	2.29	42	-17	0.40
Depreciation Expense	8.63	8.99	8.85	8.77	8.92	8.61	9.50	9.50	11	13
Amortization Expense	0.14	0.57	0.17	0.41	0.21	0.06	0.14	0.26	1.02	1.84
Non-Cash Adjustments To Reconcile Net Income	27	25	85	-104	-13	22	3.56	-35	-14	12
Changes in Operating Assets and Liabilities, net	24	9.59	-29	27	-5.78	-13	-16	17	73	-7.61
Net Cash From Investing Activities	-39	-47	-55	-3.78	-10	-20	7.56	11	-7.28	19
Net Cash From Continuing Investing Activities	-39	-47	-55	-3.78	-10	-20	7.56	11	-7.28	19
Purchase of Property, Plant & Equipment	-0.71	-0.60	-0.41	-0.11	-0.42	-0.49	-0.20	-2.41	-2.13	-4.33
Purchase of Investments	-93	-32	-99	-78	-20	-18	-49	-40	-12	-0.58
Sale and/or Maturity of Investments	52	95	47	75	60	25	57	53	7.01	25
Other Investing Activities, net	2.54	-17	-1.97	-0.50	-50	0.14	0.08	0.13	0.01	-0.91
Net Cash From Financing Activities	20	55	9.49	12	5.32	3.27	-68	-0.78	-5.30	-41
Net Cash From Continuing Financing Activities	20	55	9.49	12	5.32	3.27	-68	-0.78	-5.30	-41
Repayment of Debt	-0.12	-0.21	-0.06	-0.04	-0.95	-	-77	0.00	0.04	-38
Issuance of Common Equity	3.11	-	-	-	-	-	-	-	-	-
Other Financing Activities, net	17	21	9.55	12	6.26	3.27	9.10	-0.78	-2.71	0.80
Cash Interest Paid	0.00	0.15	0.05	0.06	-	-	0.29	0.00	0.29	0.10
Cash Income Taxes Paid	1.86	12	-	-	8.76	0.01	-	-	5.01	6.61

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

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 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	955	866	914	769	758	811	1,051
Total Current Assets	309	312	369	254	277	328	220
Cash & Equivalents	64	18	50	19	28	89	4.12
Short-Term Investments	156	209	261	171	191	194	117
Accounts Receivable	34	37	28	36	28	29	65
Inventories, net	17	19	21	25	27	14	22
Current Deferred & Refundable Income Taxes	7.81	0.00	0.00	0.00	0.00	0.00	0.79
Other Current Assets	31	27	7.31	2.10	2.77	2.33	11
Plant, Property, & Equipment, net	15	15	15	16	11	12	33
Total Noncurrent Assets	630	539	530	499	470	471	797
Long-Term Investments	13	13	47	14	-	-	-
Noncurrent Note & Lease Receivables	2.94	3.09	3.22	3.57	3.76	3.94	14
Goodwill	105	105	105	104	106	106	181
Intangible Assets	275	283	291	315	325	334	517
Noncurrent Deferred & Refundable Income Taxes	0.08	0.19	0.00	8.53	8.53	0.88	36
Other Noncurrent Operating Assets	234	134	83	54	27	27	49
Total Liabilities & Shareholders' Equity	955	866	914	769	758	811	1,051
Total Liabilities	114	91	107	101	93	165	234
Total Current Liabilities	25	19	18	16	29	99	135
Accounts Payable	4.69	1.79	1.89	2.48	9.58	6.14	16
Accrued Expenses	16	12	12	11	7.29	15	19
Current Deferred Revenue	1.15	1.20	1.23	-	-	0.26	9.55
Current Deferred & Payable Income Tax Liabilities	2.11	2.09	1.14	1.20	11	-	9.70
Other Current Liabilities	1.22	1.31	1.13	1.41	1.13	0.77	4.17
Total Noncurrent Liabilities	89	73	90	86	64	66	99
Noncurrent Deferred Revenue	2.51	2.70	3.07	-	-	-	5.54
Noncurrent Deferred & Payable Income Tax Liabilities	46	30	51	33	28	30	30
Other Noncurrent Operating Liabilities	40	40	36	53	36	36	64
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	841	775	807	668	665	646	816
Total Preferred & Common Equity	841	775	807	668	665	646	816
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	841	775	807	668	665	646	816
Common Stock	309	239	218	184	171	154	349
Retained Earnings	530	537	589	485	495	493	468
Accumulated Other Comprehensive Income / (Loss)	1.75	-0.94	-0.91	-0.94	-0.97	-0.94	-1.06

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	27.28%	-33.09%	-18.75%
EBITDA Growth	-182.77%	-23.82%	-61.47%
EBIT Growth	-727.17%	71.11%	-92.49%
NOPAT Growth	258.54%	2,393.77%	-100.40%
Net Income Growth	-107.73%	256.33%	-158.39%
EPS Growth	-107.48%	248.48%	-159.82%
Operating Cash Flow Growth	95.75%	-64.04%	74.94%
Free Cash Flow Firm Growth	-286.33%	-108.59%	-45.25%
Invested Capital Growth	17.06%	4.78%	-23.19%
Revenue Q/Q Growth	9.65%	-14.51%	7.39%
EBITDA Q/Q Growth	-72.29%	64.84%	-49.06%
EBIT Q/Q Growth	-29.64%	221.64%	-88.65%
NOPAT Q/Q Growth	388.21%	805.04%	-100.93%
Net Income Q/Q Growth	-108.91%	216.45%	-56.68%
EPS Q/Q Growth	-108.63%	254.22%	-55.91%
Operating Cash Flow Q/Q Growth	26.63%	-47.80%	23.06%
Free Cash Flow Firm Q/Q Growth	70.87%	-103.87%	69.59%
Invested Capital Q/Q Growth	-7.40%	3.86%	-40.46%
Profitability Metrics	-	-	-
Gross Margin	93.37%	91.99%	73.08%
EBITDA Margin	-24.53%	37.73%	33.14%
Operating Margin	-13.53%	9.09%	1.55%
EBIT Margin	-46.38%	9.41%	3.68%
Profit (Net Income) Margin	-2.41%	39.72%	-17.00%
Tax Burden Percent	-160.13%	81.93%	-92.64%
Interest Burden Percent	-3.25%	515.01%	498.49%
Effective Tax Rate	260.13%	15.46%	114.49%
Return on Invested Capital (ROIC)	6.93%	2.15%	-0.08%
ROIC Less NNEP Spread (ROIC-NNEP)	23.46%	-21.36%	18.14%
Return on Net Nonoperating Assets (RNNOA)	-7.46%	5.89%	-4.62%
Return on Equity (ROE)	-0.53%	8.03%	-4.70%
Cash Return on Invested Capital (CROIC)	-8.78%	-2.53%	26.15%
Operating Return on Assets (OROA)	-8.97%	1.60%	0.70%
Return on Assets (ROA)	-0.47%	6.73%	-3.24%
Return on Common Equity (ROCE)	-0.53%	8.03%	-4.70%
Return on Equity Simple (ROE_SIMPLE)	-0.49%	7.44%	-5.58%
Net Operating Profit after Tax (NOPAT)	36	10	-0.44
NOPAT Margin	21.66%	7.69%	-0.22%
Net Nonoperating Expense Percent (NNEP)	-16.53%	23.51%	-18.22%
Return On Investment Capital (ROIC_SIMPLE)	4.36%	1.44%	-0.07%
Cost of Revenue to Revenue	6.63%	8.01%	26.92%
SG&A Expenses to Revenue	47.06%	40.20%	35.70%
R&D to Revenue	12.82%	18.69%	18.39%
Operating Expenses to Revenue	106.90%	84.52%	71.53%
Earnings before Interest and Taxes (EBIT)	-78	12	7.22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-41	50	65
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	2.44	1.78	1.89
Price to Tangible Book Value (P/TBV)	4.42	4.18	7.56
Price to Revenue (P/Rev)	12.11	9.48	5.75
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)	3.12	2.13	2.16
Enterprise Value to Revenue (EV/Rev)	10.52	7.81	5.05
Enterprise Value to EBITDA (EV/EBITDA)	0.00	20.70	15.23
Enterprise Value to EBIT (EV/EBIT)	0.00	82.97	137.09
Enterprise Value to NOPAT (EV/NOPAT)	48.55	101.59	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.11	20.69	7.18
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	7.16
Leverage & Solvency	-	-	-
Debt to Equity	0.00	0.00	0.13
Long-Term Debt to Equity	0.00	0.00	0.00
Financial Leverage	-0.32	-0.28	-0.25
Leverage Ratio	1.13	1.19	1.45
Compound Leverage Factor	-0.04	6.15	7.24
Debt to Total Capital	0.00%	0.00%	11.38%
Short-Term Debt to Total Capital	0.00%	0.00%	11.38%
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	100.00%	100.00%	88.62%
Debt to EBITDA	0.00	0.00	1.18
Net Debt to EBITDA	0.00	0.00	-2.12
Long-Term Debt to EBITDA	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	-174.25
Net Debt to NOPAT	0.00	0.00	313.93
Long-Term Debt to NOPAT	0.00	0.00	0.00
Altman Z-Score	11.93	10.11	5.47
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	8.93	14.15	2.67
Quick Ratio	7.94	12.11	2.45
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-46	-12	138
Operating Cash Flow to CapEx	5,329.32%	1,408.04%	769.12%
Free Cash Flow to Firm to Interest Expense	-15.11	-18.11	76.84
Operating Cash Flow to Interest Expense	31.95	75.57	76.63
Operating Cash Flow Less CapEx to Interest Expense	31.36	70.21	66.66
Efficiency Ratios	-	-	-
Asset Turnover	0.19	0.17	0.19
Accounts Receivable Turnover	4.69	4.15	3.39
Inventory Turnover	0.58	0.56	2.60
Fixed Asset Turnover	10.87	9.35	15.29
Accounts Payable Turnover	2.89	2.72	7.71
Days Sales Outstanding (DSO)	77.85	88.03	107.76
Days Inventory Outstanding (DIO)	627.61	646.93	140.33
Days Payable Outstanding (DPO)	126.24	134.27	47.36
Cash Conversion Cycle (CCC)	579.22	600.69	200.73
Capital & Investment Metrics	-	-	-
Invested Capital	563	481	459
Invested Capital Turnover	0.32	0.28	0.37
Increase / (Decrease) in Invested Capital	82	22	-139
Enterprise Value (EV)	1,758	1,026	990
Market Capitalization	2,025	1,245	1,128
Book Value per Share	$43.95	$40.20	$35.37
Tangible Book Value per Share	$24.27	$17.09	$8.84
Total Capital	830	701	674
Total Debt	0.00	0.00	77
Total Long-Term Debt	0.00	0.00	0.00
Net Debt	-267	-220	-138
Capital Expenditures (CapEx)	1.82	3.52	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	38	50	30
Debt-free Net Working Capital (DFNWC)	294	221	241
Net Working Capital (NWC)	294	221	165
Net Nonoperating Expense (NNE)	40	-42	33
Net Nonoperating Obligations (NNO)	-267	-220	-138
Total Depreciation and Amortization (D&A)	37	37	58
Debt-free, Cash-free Net Working Capital to Revenue	22.91%	38.33%	15.09%
Debt-free Net Working Capital to Revenue	176.18%	168.03%	123.05%
Net Working Capital to Revenue	176.18%	168.03%	83.97%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.22)	$3.02	($1.98)
Adjusted Weighted Average Basic Shares Outstanding	18.29M	17.30M	16.87M
Adjusted Diluted Earnings per Share	($0.22)	$2.94	($1.98)
Adjusted Weighted Average Diluted Shares Outstanding	18.29M	17.76M	16.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	19.26M	17.71M	17.08M
Normalized Net Operating Profit after Tax (NOPAT)	5.58	10	2.13
Normalized NOPAT Margin	3.34%	7.69%	1.08%
Pre Tax Income Margin	1.51%	48.48%	18.35%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-25.53	18.84	4.02
NOPAT to Interest Expense	11.92	15.39	-0.24
EBIT Less CapEx to Interest Expense	-26.13	13.48	-5.95
NOPAT Less CapEx to Interest Expense	11.32	10.02	-10.21
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	-20.38%
Augmented Payout Ratio	0.00%	0.00%	-20.38%

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

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

Frequently Asked Questions About Ligand Pharmaceuticals' Financials

When does Ligand Pharmaceuticals's fiscal year end?

According to the most recent income statement we have on file, Ligand Pharmaceuticals' financial year ends in December. Their financial 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. Find out what analysts predict for Ligand Pharmaceuticals in the coming months.

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%.

Related Companies

This page (NASDAQ:LGND) was last updated on 5/24/2025 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