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Ligand Pharmaceuticals LGND Free cash flow margin

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Other financials

Income statement

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Revenue$51.7M+14.1%
Operating income$17.4M+148%
Net income-$13.3M+68.6%
EPS (diluted)-$0.67+69.7%

Balance sheet

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Cash & equivalents$115.1M+140%
Total debt$5.1M+14.2%
Total equity$997.3M+25.4%
Total assets$1.5B+69.2%

Cash flow

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Operating cash flow$48.7M+291%
CapEx$228.0K+6.5%
Free cash flow$48.5M+289%

Valuation

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Market cap$5.51B+96.7%
Enterprise value$5.4B+95.4%
P/E35.9×
P/S20.1×+4.6×

Profitability

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Gross margin91.9%
Operating margin34.5%+23.0pp
Net margin55.9%+35.7pp

Returns & leverage

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Return on equity17.1%+11.5pp
Debt / equity0.0×
Current ratio21.3×+16.0×

Where this comes from

Calculated from Ligand Pharmaceuticals’s reported figures.

Based on trailing twelve months.

The official record: Ligand Pharmaceuticals’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ligand Pharmaceuticals's free cash flow margin?
Ligand Pharmaceuticals (LGND) reported free cash flow margin of 44.8% in Q1 2026.
How has Ligand Pharmaceuticals's free cash flow margin changed year-over-year?
Ligand Pharmaceuticals's free cash flow margin increased by 59.7% year-over-year, from 28.1% to 44.8%.
What is the long-term trend for Ligand Pharmaceuticals's free cash flow margin?
Over 5 years (2020 to 2025), Ligand Pharmaceuticals's free cash flow margin has grown at a -7.9% compound annual growth rate (CAGR), from 27.5% to 18.2%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.