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Segments

By segment

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Development and Licensing of Biopharmaceutical Assets$13.65M+36.6%

Other financials

Income statement

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Revenue$63.7M+33.7%
Operating income$8.6M+1.7%
Net income$48.5M+901%
EPS (diluted)$2.22+825%

Balance sheet

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Cash & equivalents$1.0B+1,388%
Total debt$1.1B+19,605%
Total equity$967.5M+16.9%
Total assets$2.2B+130%

Cash flow

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Operating cash flow$24.0M+52.0%
CapEx$26.0K-87.9%
Free cash flow$24.0M+53.9%

Valuation

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Market cap$6.02B+119%
Enterprise value$6.14B+129%
P/E30.5×
P/S20.7×+6.1×

Profitability

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Gross margin91.9%
Operating margin32.6%+24.0pp
Net margin67.9%+49.4pp
FCF margin45.2%+16.7pp

Returns & leverage

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Return on equity22%+16.9pp
Debt / equity1.2×+1.2×
Current ratio31.2×+25.7×

Where this comes from

Reported directly by Ligand Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:ShareBasedCompensation.

The source filing: Ligand Pharmaceuticals’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000886163-26-000044
Line itemThree months ended / June 30, 2026Three months ended / June 30, 2025Six months ended / June 30, 2026Six months ended / June 30, 2025
Total revenues and income$63,693$47,627$115,415$92,960
Share-based compensation(13,653)(9,997)(24,249)(17,833)
Other segment items:
Amortization of intangibles(8,097)(8,258)(16,194)(16,515)
Depreciation of property and equipment(118)(264)(237)(777)
Interest income7,2981,62113,9533,392
Interest expense(1,748)(1,153)(3,495)(2,020)
Other *1,133(24,729)(50,030)(96,811)

Item 1. Condensed Consolidated Financial Statements (unaudited)

FAQ

What is Ligand Pharmaceuticals's stock-based comp?
Ligand Pharmaceuticals (LGND) reported stock-based comp of $13.65M in Q2 2026.
How has Ligand Pharmaceuticals's stock-based comp changed year-over-year?
Ligand Pharmaceuticals's stock-based comp increased by 36.6% year-over-year, from $10M to $13.65M.
What is the long-term trend for Ligand Pharmaceuticals's stock-based comp?
Over 4 years (2021 to 2025), Ligand Pharmaceuticals's stock-based comp has grown at a 4.8% compound annual growth rate (CAGR), from $38.78M to $46.85M.
What does stock-based comp mean?
Total non-cash stock-based compensation expense for equity awards (RSUs, options, ESPP), added back to net income in cash flow reconciliation.

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