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Segments

By product

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Captisol$1.6M-38.5%

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%
CapEx$26.0K-87.9%
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:InventoryNet.

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 itemJune 30, 2026December 31, 2025
Cash and cash equivalents$1,006,702$174,927
Short-term investments351,056558,594
Accounts receivable, net67,01159,601
Inventory10,2639,126
Short-term portion of financial royalty assets, net12,98222,792
Income taxes receivable2,9111,446
Other current assets6,1915,785
Total current assets1,457,116832,271

Item 1. Condensed Consolidated Financial Statements (unaudited)

FAQ

What is Ligand Pharmaceuticals's inventories?
Ligand Pharmaceuticals (LGND) reported inventories of $10.26M in Q2 2026.
How has Ligand Pharmaceuticals's inventories changed year-over-year?
Ligand Pharmaceuticals's inventories decreased by 33.7% year-over-year, from $15.49M to $10.26M.
What is the long-term trend for Ligand Pharmaceuticals's inventories?
Over 5 years (2020 to 2025), Ligand Pharmaceuticals's inventories has grown at a -19.2% compound annual growth rate (CAGR), from $26.49M to $9.13M.
What does inventories mean?
Total inventory including raw materials, work-in-progress, and finished goods, valued at the lower of cost or net realizable value.

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