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%+68.5pp	15.3%+28.8pp	7%—	-18.3%—	-34.1%—
Net margin	55.9%+129pp	46.4%+48.8pp	19.3%-10.3pp	-40.4%-72.0pp	-73.1%-155pp
EBITDA margin	46.6%+61.2pp	27.9%+20.3pp	20.6%-5.5pp	0.3%-29.1pp	-14.6%-62.9pp
Free cash flow margin	44.8%+16.8pp	18.2%-38.7pp	12.2%-37.0pp	28.6%-6.1pp	28.1%-0.2pp
Returns
Return on equity	17.1%+33.7pp	13.5%+14.0pp	5.4%-0.6pp	-9.5%-15.3pp	-16.6%-29.8pp
Return on assets	12.6%+27.2pp	9.9%+10.4pp	4%-1.3pp	-8.4%-13.5pp	-14.6%-25.8pp
Return on invested capital	9.6%+17.7pp	4%+7.1pp	2.2%+1.6pp	-4.5%-5.1pp	-8.2%-11.2pp
Efficiency
Asset turnover	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×+0.1×
Liquidity
Current ratio	21.3×+16.0×	22.2×+13.3×	24.7×+12.2×	5.5×-11.4×	5.3×-15.4×
Quick ratio	21×+15.9×	22×+13.4×	24.3×+12.5×	5.2×-10.6×	5×-14.5×
Cash ratio	2.8×+2.0×	4.7×+2.7×	4.6×+2.0×	1×+0.1×	0.8×-2.0×
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×—	-2.3×+2.9×	-2.6×-1.2×	-95.7×-95.4×	——
Interest coverage	16.9×+33.3×	8.7×+16.1×	4.6×+2.7×	-9.4×-12.1×	-16.4×-54.7×
Per Share
Book value per share	$50.16+21.0%	$50.12+10.4%	$46.06+0.9%	$41.52-3.4%	$41.46-6.8%
Valuation
Market capitalization	$3.98B+96.7%	$3.72B+83.8%	$3.45B+88.9%	$2.28B+50.7%	$2.02B+56.4%
Enterprise value	$3.87B+95.4%	$3.55B+81.3%	$3.32B+87.3%	$2.22B+47.6%	$1.98B+58.4%
Price / earnings	25.9×—	29.9×—	71.1×+30.7×	——	——
Price / sales	14.5×+3.3×	13.9×+1.8×	13.7×+1.7×	12.2×+0.8×	11.2×+0.2×
Price / book	4×+1.4×	3.7×+1.2×	3.6×+1.5×	2.8×+0.8×	2.5×+0.9×
EV / EBITDA	30.3×—	47.5×-108×	64.2×+19.6×	3,429.7×+3,392×	——
EV / sales	14.1×+3.2×	13.2×+1.5×	13.2×+1.6×	11.8×+0.6×	10.9×+0.3×
Free cash flow yield	3.1%+0.6pp	1.3%-3.4pp	0.9%-3.2pp	2.4%-0.7pp	2.5%-0.1pp
Earnings yield	3.9%+10.4pp	3.3%+3.5pp	1.4%-1.1pp	-3.3%-6.1pp	-6.6%-14.0pp

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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.