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LIGAND PHARMACEUTICALS INC LGND

Nasdaq · stock · Pharmaceutical Preparations · website · IPO 1992-11-18 · LEI

LIGAND PHARMACEUTICALS INC statistics & valuation

Market cap$6.1B
P / E48.9×
P / S22.7×
P / B6.0×
P / FCF124.4×
Net margin46.4%
Return on equity12.2%
FCF margin18.2%
Return on capital2.7%
Graham number -71.6%$83.15

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($83.15); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-1.50% 8.90% 57.00% 523.20% -1.80% 23.70% -17.00% 39.70% -2.40% 46.40% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
40.30% 48.20% 65.10% 671.00% 22.90% 43.00% 1.50% 9.10% -13.50% 15.30% 2016201720182019202020212022202320242025
Return on equity (%)
-0.50% 3.10% 25.60% 82.00% -0.40% 7.00% -5.60% 7.40% -0.50% 12.20% 2016201720182019202020212022202320242025
Shares outstanding
20.9M 23.5M 24.1M 19.8M 16.8M 17.2M 17.0M 17.8M 19.1M 20.3M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-0.30% 1.90% 11.40% 42.10% -0.20% 4.40% -4.40% 6.60% -0.40% 8.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
56.10% 61.20% 76.80% -26.50% 30.60% 29.00% 61.10% 35.10% 57.00% 18.20% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
-$0.08 $0.53 $5.96 $31.85 -$0.18 $3.31 -$1.98 $2.94 -$0.22 $6.13 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

LIGAND PHARMACEUTICALS INC trades at about 47.8× earnings — above its 10-year norm (10-year range 1.7×–185.5×, median 24.9×).

1.7× 185.5×

Shaded band = 10-year range (1.7×–185.5×); dot = today's 47.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin15.3%-13.5%9.1%1.5%43.0%22.9%671.0%65.1%48.2%40.3%
Net margin46.4%-2.4%39.7%-17.0%23.7%-1.8%523.2%57.0%8.9%-1.5%
FCF margin18.2%57.0%35.1%61.1%29.0%30.6%-26.5%76.8%61.2%56.1%
Return on assets8.0%-0.4%6.6%-4.4%4.4%-0.2%42.1%11.4%1.9%-0.3%
Return on equity12.2%-0.5%7.4%-5.6%7.0%-0.4%82.0%25.6%3.1%-0.5%
Current ratio22.238.9314.152.6711.155.0066.0910.580.990.72

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.