What are Ligand Pharmaceuticals's profit margins?

Ligand Pharmaceuticals (LGND) runs a 91.9% gross margin and a 34.5% operating margin, with a 55.9% net margin.

Where do Ligand Pharmaceuticals's ratios come from?

Every ratio is computed from Ligand Pharmaceuticals's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Ligand Pharmaceuticals LGND Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	34.5%+19.2pp	15.3%+8.3pp	7%+25.2pp	-18.3%+15.8pp	-34.1%-20.5pp
Net margin	55.9%+9.5pp	46.4%+27.1pp	19.3%+59.8pp	-40.4%+32.6pp	-73.1%-70.7pp
EBITDA margin	46.6%+18.7pp	27.9%+7.3pp	20.6%+20.2pp	0.3%+15.0pp	-14.6%-22.2pp
Free cash flow margin	44.8%+26.6pp	18.2%+6.0pp	12.2%-16.3pp	28.6%+0.5pp	28.1%-28.9pp
Returns
Return on equity	17.1%+3.7pp	13.5%+8.0pp	5.4%+14.9pp	-9.5%+7.1pp	-16.6%-16.0pp
Return on assets	12.6%+2.7pp	9.9%+6.0pp	4%+12.4pp	-8.4%+6.2pp	-14.6%-14.1pp
Return on invested capital	9.6%+5.6pp	4%+1.8pp	2.2%+6.7pp	-4.5%+3.7pp	-8.2%-5.0pp
Efficiency
Asset turnover	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Liquidity
Current ratio	21.3×-0.9×	22.2×-2.5×	24.7×+19.2×	5.5×+0.2×	5.3×-3.7×
Quick ratio	21×-1.0×	22×-2.3×	24.3×+19.1×	5.2×+0.2×	5×-3.5×
Cash ratio	2.8×-1.8×	4.7×+0.1×	4.6×+3.5×	1×+0.2×	0.8×-1.1×
Leverage
Debt-to-equity	0×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Debt-to-assets	0×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Net debt / EBITDA	-0.9×+1.4×	-2.3×+0.3×	-2.6×+93.1×	-95.7×—	——
Interest coverage	16.9×+8.2×	8.7×+4.1×	4.6×+14.0×	-9.4×+7.0×	-16.4×-9.0×
Per Share
Book value per share	$50.16+0.1%	$50.12+8.8%	$46.06+10.9%	$41.52+0.2%	$41.46-8.7%
Valuation
Market capitalization	$3.98B+7.0%	$3.72B+7.8%	$3.45B+51.4%	$2.28B+12.7%	$2.02B0.0%
Enterprise value	$3.87B+9.0%	$3.55B+7.0%	$3.32B+49.6%	$2.22B+12.0%	$1.98B+1.1%
Price / earnings	25.9×-4.0×	29.9×-41.2×	71.1×—	——	——
Price / sales	14.5×+0.6×	13.9×+0.1×	13.7×+1.6×	12.2×+1.0×	11.2×-1.0×
Price / book	4×+0.3×	3.7×0.0×	3.6×+0.9×	2.8×+0.2×	2.5×+0.1×
EV / EBITDA	30.3×-17.2×	47.5×-16.7×	64.2×-3,366×	3,429.7×—	——
EV / sales	14.1×+0.9×	13.2×0.0×	13.2×+1.4×	11.8×+0.9×	10.9×-0.8×
Free cash flow yield	3.1%+1.8pp	1.3%+0.4pp	0.9%-1.5pp	2.4%-0.2pp	2.5%-2.2pp
Earnings yield	3.9%+0.5pp	3.3%+1.9pp	1.4%+4.7pp	-3.3%+3.2pp	-6.6%-6.4pp

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Questions, answered.

What are Ligand Pharmaceuticals's profit margins?: Ligand Pharmaceuticals (LGND) runs a 91.9% gross margin and a 34.5% operating margin, with a 55.9% net margin.
Where do Ligand Pharmaceuticals's ratios come from?: Every ratio is computed from Ligand Pharmaceuticals's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.