Ligand Pharmaceuticals Inc (LGND) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, Ligand Pharmaceuticals reported revenue of $268.1M, up 60.4% from $167.1M the year before. Net income was $124.5M (a 46.4% net margin), or $6.13 per diluted share. Operating margin was 15.3%. Operating activities generated $49.4M of cash, leaving $48.9M of free cash flow. At fiscal year end, Ligand Pharmaceuticals held $1.56B in total assets against $543.4M in total liabilities, including $174.9M of cash and equivalents.
Open the full interactive Ligand Pharmaceuticals financials → Quarterly statements, key ratios, valuation history and price charts.
Ligand Pharmaceuticals Key Stats
| Share Price | $303.53 |
|---|---|
| Market Cap | $6.63B |
| P/E Ratio | 49.5 |
| Revenue YoY Growth | +60.4% |
| 52-Week Range | $179.89 – $322.61 |
| Shares Outstanding | 20.1 million (basic, 2026 Q2) |
Ligand Pharmaceuticals Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $186.4M | $277.1M | $196.2M | $131.3M | $167.1M | $268.1M |
| Operating Income | $25.8M | $78.9M | $3.0M | $11.9M | -$22.6M | $41.0M |
| Pre-Tax Income | -$10.5M | $47.3M | $36.0M | $63.7M | $2.5M | $159.0M |
| Income Tax | -$7.6M | -$9.8M | $41.2M | $9.8M | $6.5M | $34.5M |
| Net Income | -$3.0M | $57.1M | -$33.4M | $52.2M | -$4.0M | $124.5M |
| Diluted EPS | -$0.18 | $3.31 | -$1.98 | $2.94 | -$0.22 | $6.13 |
Ligand Pharmaceuticals Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $115.5M | $59.7M | $51.7M | $63.7M |
| Net Income | $117.3M | $44.8M | -$13.3M | $48.5M |
| Diluted EPS | $5.68 | $2.21 | -$0.67 | $2.22 |
Ligand Pharmaceuticals Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $47.6M | $19.5M | $45.0M | $23.0M | $72.3M | $174.9M |
| Current Assets | $500.6M | $464.8M | $263.6M | $237.4M | $331.6M | $832.3M |
| Total Assets | $1.36B | $1.30B | $762.7M | $787.2M | $941.8M | $1.56B |
| Current Liabilities | $100.1M | $41.7M | $98.8M | $16.8M | $37.1M | $37.4M |
| Total Long-Term Debt | $442.3M | $320.7M | — | — | — | $446.2M |
| Total Liabilities | $652.8M | $476.4M | $165.2M | $86.3M | $111.3M | $543.4M |
| Shareholders' Equity | $709.5M | $821.2M | $597.5M | $700.9M | $830.4M | $1.02B |
Ligand Pharmaceuticals Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $54.6M | $78.8M | $137.8M | $49.6M | $97.0M | $49.4M |
| Cash From Investing | $231.6M | $30.5M | $163.6M | -$11.7M | -$143.7M | -$377.3M |
| Cash From Financing | -$310.5M | -$137.8M | -$276.0M | -$59.9M | $97.1M | $428.2M |
| Free Cash Flow | $50.1M | $70.0M | $119.9M | $46.1M | $95.2M | $48.9M |
Figures from Ligand Pharmaceuticals' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Ligand Pharmaceuticals financials page for every line item.
Ligand Pharmaceuticals Company Profile
| Ticker | LGND |
|---|---|
| Exchange | Nasdaq, OTC |
| Industry | Pharmaceutical Preparations |
| Headquarters | San Diego, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000886163 |
Frequently Asked Questions
What was Ligand Pharmaceuticals' revenue in fiscal 2025?
Ligand Pharmaceuticals (LGND) reported revenue of $268.1M for fiscal 2025.
What is Ligand Pharmaceuticals' annual revenue history?
Ligand Pharmaceuticals' annual revenue by fiscal year: 2020: $186.4M; 2021: $277.1M; 2022: $196.2M; 2023: $131.3M; 2024: $167.1M; 2025: $268.1M.
What was Ligand Pharmaceuticals' net income in fiscal 2025?
Ligand Pharmaceuticals reported net income of $124.5M for fiscal 2025.
What was Ligand Pharmaceuticals' earnings per share (EPS) in fiscal 2025?
Ligand Pharmaceuticals' diluted EPS was $6.13 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Ligand Pharmaceuticals generate in fiscal 2025?
Ligand Pharmaceuticals generated $48.9M of free cash flow in fiscal 2025.
What was Ligand Pharmaceuticals' revenue last quarter?
In its most recent reported quarter (2026 Q2), Ligand Pharmaceuticals reported revenue of $63.7M.
How much debt does Ligand Pharmaceuticals have?
Ligand Pharmaceuticals reported $446.2M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Ligand Pharmaceuticals are outstanding?
Ligand Pharmaceuticals reported a weighted average of 20.1 million basic shares outstanding in 2026 Q2.
What is Ligand Pharmaceuticals' market cap?
Based on its latest closing price, Ligand Pharmaceuticals (LGND) has a market capitalization of about $6.63B.
When does Ligand Pharmaceuticals' fiscal year end?
Ligand Pharmaceuticals' fiscal year end, as registered with the SEC, is December 31.
Where is Ligand Pharmaceuticals headquartered?
Ligand Pharmaceuticals lists its business address in San Diego, California in its SEC filings.