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Ligand Pharmaceuticals LGND Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

Revenue$51.7M+14.1%

Operating income$17.4M+148%

Net income-$13.3M+68.6%

EPS (diluted)-$0.67+69.7%

Balance sheet

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

Operating cash flow$48.7M+291%

CapEx$228.0K+6.5%

Free cash flow$48.5M+289%

Valuation

Market cap$5.6B+96.7%

Profitability

Gross margin91.9%—

Operating margin34.5%+23.0pp

Net margin55.9%+35.7pp

FCF margin44.8%+16.8pp

Returns & leverage

Return on equity17.1%+11.5pp

Debt / equity0×0.0×

Current ratio21.3×+16.0×

Where this comes from

Calculated from Ligand Pharmaceuticals’s reported figures.

$5.1Mtotal debt−$115.1Mcash and equivalents=-$110.01M

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 net debt?: Ligand Pharmaceuticals (LGND) reported net debt of -$110.01M in Q1 2026.
How has Ligand Pharmaceuticals's net debt changed year-over-year?: Ligand Pharmaceuticals's net debt decreased by 152.7% year-over-year, from -$43.54M to -$110.01M.
What is the long-term trend for Ligand Pharmaceuticals's net debt?: Over 5 years (2020 to 2025), Ligand Pharmaceuticals's net debt has grown at a 44.3% compound annual growth rate (CAGR), from -$27.14M to -$169.58M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.