What is Ligand Pharmaceuticals's price / book?

Ligand Pharmaceuticals (LGND) reported price / book of 4× in Q1 2026.

How has Ligand Pharmaceuticals's price / book changed year-over-year?

Ligand Pharmaceuticals's price / book increased by 56.9% year-over-year, from 2.5× to 4×.

What is the long-term trend for Ligand Pharmaceuticals's price / book?

Over 5 years (2020 to 2025), Ligand Pharmaceuticals's price / book has grown at a 9.3% compound annual growth rate (CAGR), from 2.3× to 3.7×.

What does price / book mean?

Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.

Ligand Pharmaceuticals LGND Price / book

Price / book at other companies

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2.1×+0.7×

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30.6×+5.3×

RevvityRVTY

1.4×-0.3×

Roivant SciencesROIV

4.4×+2.8×

Mirum Pharmaceuticals, Inc.MIRM

23×+13.5×

Ionis PharmaceuticalsIONS

25.2×+15.2×

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

See full

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.

market cap/total stockholders equity=4×

Based on the most recent quarter.

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 price / book?: Ligand Pharmaceuticals (LGND) reported price / book of 4× in Q1 2026.
How has Ligand Pharmaceuticals's price / book changed year-over-year?: Ligand Pharmaceuticals's price / book increased by 56.9% year-over-year, from 2.5× to 4×.
What is the long-term trend for Ligand Pharmaceuticals's price / book?: Over 5 years (2020 to 2025), Ligand Pharmaceuticals's price / book has grown at a 9.3% compound annual growth rate (CAGR), from 2.3× to 3.7×.
What does price / book mean?: Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.