What is Ligand Pharmaceuticals's impairment charges?

Ligand Pharmaceuticals (LGND) reported impairment charges of $6.2M in Q4 2025.

How has Ligand Pharmaceuticals's impairment charges changed year-over-year?

Ligand Pharmaceuticals's impairment charges increased by 51.9% year-over-year, from $4.08M to $6.2M.

What does impairment charges mean?

Write-downs of long-lived assets (excluding goodwill) when their carrying value exceeds fair value, including property, equipment, right-of-use assets, and other tangible assets.

Ligand Pharmaceuticals LGND Impairment Charges

Discontinued — last reported Q4 '25

Impairment Charges at other companies

Halozyme TherapeuticsHALO

$12.18M—

IncyteINCY

$23.21M—

Royalty PharmaRPRX

——

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

FCF margin44.8%+16.8pp

Returns & leverage

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Return on equity17.1%+11.5pp

Debt / equity0×0.0×

Current ratio21.3×+16.0×

Where this comes from

Reported directly by Ligand Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:ImpairmentOfIntangibleAssetsExcludingGoodwill.

The official record: Ligand Pharmaceuticals’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ligand Pharmaceuticals's impairment charges?: Ligand Pharmaceuticals (LGND) reported impairment charges of $6.2M in Q4 2025.
How has Ligand Pharmaceuticals's impairment charges changed year-over-year?: Ligand Pharmaceuticals's impairment charges increased by 51.9% year-over-year, from $4.08M to $6.2M.
What does impairment charges mean?: Write-downs of long-lived assets (excluding goodwill) when their carrying value exceeds fair value, including property, equipment, right-of-use assets, and other tangible assets.