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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Operating margin	34.5%—	15.3%—	7%—	——	——
Net margin	55.9%+129pp	46.4%+48.8pp	19.3%-10.3pp	-40.4%-72.0pp	-73.1%-155pp
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 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×
Leverage
Debt-to-equity	0×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Net debt / EBITDA	-0.9×—	——	——	——	——
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%
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×—	——	——	——	——

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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.