Rankings
▼
Calendar
LGND (Ligand Pharmaceuticals Incorporated) Stock Financials & Earnings | Market Cap Arena
LGND
Ligand Pharmaceuticals Incorporated
Mkt Cap
$4B
Healthcare
·
Biotechnology
·
🇺🇸 United States
·
NASDAQ
Revenue (TTM)
$268M
Net Income (TTM)
$124M
EPS (TTM)
$5.83
Free Cash Flow (TTM)
$49M
Gross Margin
97.5%
Op. Margin
17.6%
Net Margin
46.4%
FCF Margin
18.2%
P/S Ratio (TTM)
15.9x
P/E Ratio (TTM)
34.2x
YoY Rev Growth
+60.4%
Employees
—
Earnings Reports
▶
Q4 2025
NEW
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$44M
$40M
$14M
Q2 23
$26M
$25M
-$2M
Q3 23
$33M
$29M
$3M
Q4 23
$28M
$26M
-$3M
Q1 24
$31M
$20M
$3M
Q2 24
$42M
$57M
-$19M
Q3 24
$52M
$39M
$3M
Q4 24
$43M
$40M
-$10M
Q1 25
$45M
$40M
-$36M
Q2 25
$48M
$45M
$8M
Q3 25
$115M
$91M
$55M
Q4 25
$60M
$86M
$20M
marketcaparena.com
Revenue Breakdown
LGND
Ligand Pharmaceuticals Incorporated
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
23.6x
177.5x
Q2 23
27.2x
156.7x
Q3 23
32.7x
258.2x
Q4 23
32.4x
81.6x
Q1 24
36.0x
44.2x
Q2 24
31.9x
101.0x
Q3 24
27.9x
94.1x
Q4 24
25.5x
—
Q1 25
23.5x
—
Q2 25
22.7x
—
Q3 25
16.9x
87.6x
Q4 25
15.9x
34.2x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$34M
$32M
Q2 23
-$82K
-$285K
Q3 23
$8M
$7M
Q4 23
$7M
$7M
Q1 24
$19M
$19M
Q2 24
$13M
$11M
Q3 24
$37M
$22M
Q4 24
$28M
$28M
Q1 25
-$26M
-$26M
Q2 25
$16M
$16M
Q3 25
$13M
$13M
Q4 25
$46M
$46M
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$2M
Q2 23
$203K
Q3 23
$487K
Q4 23
$417K
Q1 24
$105K
Q2 24
$2M
Q3 24
$14M
Q4 24
$712K
Q1 25
$214K
Q2 25
$214K
Q3 25
$15K
Q4 25
$9K
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+20.4%
-13.4%
Q2 23
-47.4%
-31.6%
Q3 23
-44.5%
-36.5%
Q4 23
+3.9%
+111.6%
Q1 24
-29.6%
-6.0%
Q2 24
+57.5%
+113.9%
Q3 24
+57.6%
+63.4%
Q4 24
+52.4%
+66.7%
Q1 25
+46.3%
+191.4%
Q2 25
+14.7%
-35.4%
Q3 25
+122.8%
+24.4%
Q4 25
+39.4%
-24.4%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$0
0.0%
Q2 23
$7M
27.3%
Q3 23
$7M
20.9%
Q4 23
$0
0.0%
Q1 24
$7M
23.7%
Q2 24
$11M
26.6%
Q3 24
$26M
50.6%
Q4 24
$8M
17.6%
Q1 25
$0
0.0%
Q2 25
$0
0.0%
Q3 25
$15M
12.8%
Q4 25
$14M
23.9%
marketcaparena.com
OpEx Breakdown
R&D
G&A
Quarter
R&D
G&A
Q1 23
$7M
$11M
Q2 23
$7M
$11M
Q3 23
$6M
$15M
Q4 23
$5M
$16M
Q1 24
$6M
$11M
Q2 24
$5M
$18M
Q3 24
$6M
$24M
Q4 24
$4M
$26M
Q1 25
$50M
$19M
Q2 25
$7M
$20M
Q3 25
$21M
$28M
Q4 25
$4M
$25M
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$283M
$0
$283M
Q2 23
$28M
$191M
$219M
Q3 23
$19M
$171M
$191M
Q4 23
$23M
$147M
$170M
Q1 24
$50M
$261M
$311M
Q2 24
$18M
$209M
$227M
Q3 24
$64M
$156M
$220M
Q4 24
$72M
$184M
$256M
Q1 25
$48M
$161M
$209M
Q2 25
$68M
$188M
$255M
Q3 25
$139M
$525M
$665M
Q4 25
$175M
$559M
$734M
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
18M
+6.4%
Q2 23
18M
-1.4%
Q3 23
17M
-2.0%
Q4 23
18M
+1.7%
Q1 24
18M
+2.5%
Q2 24
18M
-0.5%
Q3 24
18M
+2.2%
Q4 24
19M
+3.0%
Q1 25
19M
+1.1%
Q2 25
20M
+3.8%
Q3 25
20M
+1.2%
Q4 25
21M
+4.8%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$3M
19
FY 15
$3M
21
FY 16
$5M
22
FY 17
$4M
39
FY 18
$2M
116
FY 19
$1M
115
FY 20
$1M
155
FY 21
$2M
154
FY 22
$3M
76
FY 23
$2M
58
FY 24
$2M
68
FY 25
$6M
47
marketcaparena.com