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Other financials

Income statement

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Revenue$63.7M+33.7%
Operating income$8.6M+1.7%
Net income$48.5M+901%
EPS (diluted)$2.22+825%

Balance sheet

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Cash & equivalents$1.0B+1,388%
Total debt$1.1B+19,605%
Total equity$967.5M+16.9%
Total assets$2.2B+130%

Cash flow

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Operating cash flow$24.0M+52.0%
Free cash flow$24.0M+53.9%

Valuation

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Market cap$6.02B+119%
Enterprise value$6.14B+129%
P/E30.5×
P/S20.7×+6.1×

Profitability

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Gross margin91.9%
Operating margin32.6%+24.0pp
Net margin67.9%+49.4pp
FCF margin45.2%+16.7pp

Returns & leverage

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Return on equity22%+16.9pp
Debt / equity1.2×+1.2×
Current ratio31.2×+25.7×

Where this comes from

Reported directly by Ligand Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The source filing: Ligand Pharmaceuticals’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000886163-26-000044
Line itemSix months ended / June 30, 2026Six months ended / June 30, 2025
Proceeds from financial royalty assets9,5005,179
Purchases of derivatives(2,672)(7,620)
Proceeds from sale of derivatives1,045
Purchases of property and equipment(254)(428)
Purchases of short-term investments(259,327)(122,717)
Proceeds from sale of short-term investments242,56338,414
Proceeds from maturity of short-term investments239,80583,220
Purchases of other investments(1,250)

Item 1. Condensed Consolidated Financial Statements (unaudited)

FAQ

What is Ligand Pharmaceuticals's capex?
Ligand Pharmaceuticals (LGND) reported capex of $26K in Q2 2026.
How has Ligand Pharmaceuticals's capex changed year-over-year?
Ligand Pharmaceuticals's capex decreased by 87.9% year-over-year, from $214K to $26K.
What is the long-term trend for Ligand Pharmaceuticals's capex?
Over 4 years (2021 to 2025), Ligand Pharmaceuticals's capex has grown at a -52.3% compound annual growth rate (CAGR), from $8.76M to $452K.
What does capex mean?
Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

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