LGND
$295.54-0.99%
Ligand Pharmaceuticals IncorporatedStock · HealthcareRussell 2000 0.2%Nasdaq Composite 0.01%Russell 3000 0.009%US Stock Market 0.008%
LGND financial statements
The full income statement, balance sheet, and cash-flow statement for Ligand Pharmaceuticals Incorporated (LGND), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 18.3M2024-09 18.9M2024-12 19.3M2025-03 19.3M2025-06 19.6M2025-09 19.7M2025-12 19.9M2026-03 20.0M2026-06 19.9M+9.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 268M+60.4% | 167M+27.3% | 131M-33.1% | 196M-18.8% | 242M+47.7% | |
| Research & development | 81.2M+278.9% | 21.4M-12.7% | 24.5M-32.0% | 36.1M+12.4% | 32.1M-20.7% | |
| Selling, general & administrative | 92.4M+17.5% | 78.7M+49.0% | 52.8M-24.7% | 70.1M+49.7% | 46.8M-22.0% | |
| General & administrative | 92.4M+17.5% | 78.7M+49.0% | 52.8M-24.7% | 70.1M+49.7% | 46.8M-22.0% | |
| Amortization of intangibles | — | — | — | — | 47.2M+101.7% | |
| Operating income | 41.0M+281.4% | -22.6M-289.3% | 11.9M+293.2% | 3.04M-97.1% | 104M+176.9% | |
| Interest expense | 4.71M+55.3% | 3.04M+363.0% | 656K-63.5% | 1.80M-90.8% | 19.6M-28.4% | |
| Interest & investment income | 13.7M+69.6% | 8.05M+4.5% | 7.71M+276.9% | 2.05M+130.9% | 886K-89.0% | |
| Other non-operating income | -89.0K+99.6% | -20.3M-1093.7% | -1.70M-140.6% | 4.19M+154.7% | -7.65M-12438.7% | |
| Equity-method income | 0.00+100.0% | -7.01M-283.2% | -1.83M | 0.00 | 0.00 | |
| Gain (loss) on equity securities | 90.7M+362.0% | -34.6M | 0.00 | 0.00 | — | |
| Pre-tax income | 159M+6212.9% | 2.52M-96.0% | 63.7M+76.8% | 36.0M-50.1% | 72.2M+5488.6% | |
| Income tax | 34.5M+426.8% | 6.55M-33.4% | 9.84M-76.1% | 41.2M+1094.0% | -4.15M+21.8% | |
| 124M+3186.6% | -4.03M-107.7% | 52.2M+256.3% | -33.4M-158.4% | 57.1M+2014.2% | ||
| Income from continuing operations | 124M+3186.6% | -4.03M-107.5% | 53.8M+1131.2% | -5.22M-106.8% | 76.4M+1057.2% | |
| $6.13+2886.4% | -$0.22-107.5% | $2.94+248.5% | -$1.98-159.8% | $3.31+1938.9% | ||
| EPS (basic) | $6.44+3027.3% | -$0.22-107.3% | $3.02+252.5% | -$1.98-157.6% | $3.44+2011.1% | |
| Weighted-avg shares (basic) | 19.3M+5.7% | 18.3M+5.7% | 17.3M+2.5% | 16.9M+1.4% | 16.6M+2.7% | |
| Weighted-avg shares (diluted) | 20.3M+11.0% | 18.3M+3.0% | 17.8M+5.3% | 16.9M-2.2% | 17.2M+2.5% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 832M+151.0% | 332M+39.6% | 237M-9.9% | 264M-43.3% | 465M-7.2% | ||
| Cash & equivalents | 175M+141.9% | 72.3M+215.0% | 23.0M-49.0% | 45.0M+130.5% | 19.5M-59.0% | |
| Short-term investments | 559M+203.8% | 184M+24.8% | 147M-11.7% | 167M-48.1% | 322M-11.5% | |
| Accounts receivable | 59.6M+55.3% | 38.4M+16.6% | 32.9M+8.2% | 30.4M-64.4% | 85.5M+50.3% | |
| Inventory | 9.13M-35.3% | 14.1M-41.1% | 24.0M+80.3% | 13.3M-51.4% | 27.3M+3.2% | |
| Prepaid expenses | — | 1.93M+63.6% | 1.18M+4.4% | 1.13M | — | |
| Other current assets | 5.79M-34.3% | 8.81M+231.4% | 2.66M+17.2% | 2.27M-36.5% | 3.57M-6.6% | |
| 1.56B+65.7% | 942M+19.6% | 787M+3.2% | 763M-41.2% | 1.30B-4.7% | ||
| Property, plant & equipment | 3.57M-76.4% | 15.1M-3.0% | 15.6M+25.0% | 12.5M-5.4% | 13.2M-8.6% | |
| Operating lease right-of-use | 7.22M+4.6% | 6.91M+13.9% | 6.06M-44.5% | 10.9M+240.0% | 3.21M-53.4% | |
| Goodwill | 102M-3.5% | 105M+1.8% | 103M | 0.00-100.0% | 106M-44.3% | |
| Intangible assets | 225M-15.5% | 267M-11.0% | 300M-12.5% | 342M-9.1% | 377M-36.7% | |
| Deferred tax assets | 8.35M+11490.3% | 72.0K-66.4% | 214K-97.5% | 8.53M-76.1% | 35.7M+46.9% | |
| Other non-current assets | 12.6M-60.3% | 31.7M+396.4% | 6.39M+268.2% | 1.74M+38.8% | 1.25M-70.7% | |
| 37.4M+0.9% | 37.1M+121.1% | 16.8M-83.0% | 98.8M+137.2% | 41.7M-58.4% | ||
| Accounts payable | 3.24M-38.1% | 5.23M+115.6% | 2.43M-54.3% | 5.31M-36.8% | 8.40M+122.1% | |
| Accrued liabilities | 31.5M+12.7% | 27.9M+123.8% | 12.5M-20.5% | 15.7M-10.8% | 17.6M-5.1% | |
| Deferred revenue | 621K+0.0% | 621K-49.2% | 1.22M+244.2% | 355K-45.7% | 654K-97.8% | |
| Current lease liability | 1.09M-13.5% | 1.27M+214.1% | 403K-39.9% | 670K-51.0% | 1.37M-27.4% | |
| Other current liabilities | 135K-89.6% | 1.30M | — | 457K | — | |
| Finance lease liability (current) | 24.0K+0.0% | 24.0K+242.9% | 7.00K-84.4% | 45.0K+0.0% | 45.0K+582.5% | |
| 543M+388.1% | 111M+29.0% | 86.3M-47.8% | 165M-65.3% | 476M-27.0% | ||
| Deferred revenue (non-current) | 0.00-100.0% | 15.9M+16.3% | 13.7M | 0.00-100.0% | 9.27M | |
| Non-current lease liability | 4.20M-27.7% | 5.82M+1.0% | 5.75M-44.3% | 10.3M+358.2% | 2.26M-60.0% | |
| Operating lease liability (total) | 5.30M-25.1% | 7.08M+15.0% | 6.16M-44.0% | 11.0M-37.3% | 17.5M+133.1% | |
| Finance lease liability (total) | 50.0K-31.5% | 73.0K+180.8% | 26.0K-48.0% | 50.0K-51.9% | 104K-98.4% | |
| Finance lease liability | 26.0K-46.9% | 49.0K+157.9% | 19.0K+280.0% | 5.00K-91.4% | 58.0K-48.2% | |
| Deferred tax liabilities | 36.0M+10.7% | 32.5M+2.9% | 31.6M+3.3% | 30.6M-0.8% | 30.9M-52.2% | |
| Other non-current liabilities | 16.6M-44.9% | 30.2M+8.7% | 27.8M+26.6% | 21.9M+0.8% | 21.8M-29.5% | |
| 1.02B+22.5% | 830M+18.5% | 701M+17.3% | 597M-27.2% | 821M+15.7% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 20.0K+0.0% | 20.0K+11.1% | 18.0K+5.9% | 17.0K+0.0% | 17.0K+6.3% | |
| Additional paid-in capital | 401M+18.8% | 337M+69.8% | 199M+34.6% | 148M-60.4% | 373M+17.2% | |
| Retained earnings | 608M+21.9% | 499M-0.8% | 503M+11.6% | 451M+0.4% | 449M+14.6% | |
| Accumulated other comprehensive income | 8.46M+242.3% | -5.94M-627.3% | -817K+17.0% | -984K-7.3% | -917K-14.5% | |
| Total liabilities & equity | 1.56B+65.7% | 942M+19.6% | 787M+3.2% | 763M-41.2% | 1.30B-4.7% | |
| Common shares issued | 19.8M+3.5% | 19.1M+8.8% | 17.6M+3.6% | 17.0M+1.1% | 16.8M+4.3% | |
| Common shares outstanding | 19.8M+3.5% | 19.1M+8.8% | 17.6M+3.6% | 17.0M+1.1% | 16.8M+4.3% | |
| Shares outstanding (cover) | 19.9M+3.6% | 19.3M+8.8% | 17.7M+3.7% | 17.1M+1.3% | 16.9M+1.4% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 49.4M-49.1% | 97.0M+95.8% | 49.6M-64.0% | 138M+74.9% | 78.8M+44.4% | ||
| Depreciation & amortization | 33.8M-4.2% | 35.2M-3.5% | 36.5M-29.1% | 51.5M+0.9% | 51.1M+98.8% | |
| Intangible amortization | — | — | — | — | 47.2M+101.7% | |
| Share-based compensation | 46.8M+14.0% | 41.1M+59.6% | 25.7M-57.3% | 60.3M+55.4% | 38.8M+26.2% | |
| Deferred income taxes | 21.9M+238.5% | -15.8M-257.5% | 10.0M-67.1% | 30.5M+764.8% | -4.59M+72.5% | |
| Change in receivables | 21.7M+236.5% | 6.46M+148.3% | 2.60M+104.7% | -55.3M-293.3% | 28.6M+9.8% | |
| Change in inventory | -4.99M+48.1% | -9.62M-188.5% | 10.9M+190.1% | -12.1M-2923.9% | 427K-97.6% | |
| Other operating activities | 1.69M-64.3% | 4.72M+539.1% | 739K+102.5% | 365K-76.8% | 1.57M+723.0% | |
| -377M-162.6% | -144M-1129.8% | -11.7M-107.1% | 164M+436.1% | 30.5M-86.8% | ||
| Capital expenditure | 452K-75.2% | 1.82M-48.3% | 3.52M-80.4% | 17.9M+104.6% | 8.76M+96.5% | |
| Free cash flow | 48.9M-48.6% | 95.2M+106.8% | 46.1M-61.6% | 120M+71.2% | 70.0M+39.7% | |
| Acquisitions | 0.00 | 0.00-100.0% | 10.4M | 0.00 | 0.00-100.0% | |
| Other investing activities | — | 0.00 | 0.00-100.0% | 960K-21.3% | 1.22M+164.2% | |
| 428M+340.8% | 97.1M+262.0% | -59.9M+78.3% | -276M-100.3% | -138M+55.6% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00-100.0% | 76.9M-70.5% | 261M+67.5% | 156M-29.9% | |
| Common stock issued | 0.00-100.0% | 37.1M | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 15.0M | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | 2.36M+301.5% | -1.17M | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 103M+107.9% | 49.4M+323.8% | -22.1M-186.5% | 25.5M | — | |
| Interest paid | 321K+22.1% | 263K-8.7% | 288K-79.8% | 1.43M-52.8% | 3.03M-32.2% | |
| Income taxes paid | 7.80M-59.4% | 19.2M+119.0% | 8.77M-24.7% | 11.6M+212.8% | 3.72M+74.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.77B+82.7% | 2.06B+65.7% | 1.25B+10.3% | 1.13B-30.5% | 1.62B+57.6% | |
| P/E | 30.3× | — | 75.6× | — | 28.4× | |
| P/S | 14.1×+13.9% | 12.3×+52.3% | 8.1×+45.3% | 5.6×-17.0% | 6.7×+6.7% | |
| P/B | 3.7×+49.2% | 2.5×+33.3% | 1.9×+34.9% | 1.4×-30.1% | 2.0×+36.1% | |
| P/FCF | 77.1×+255.8% | 21.7×+56.2% | 13.9×+15.6% | 12.0×-48.2% | 23.2×+12.8% | |
| Earnings yield | 3.3% | — | 1.3% | — | 3.5% | |
| FCF yield | 1.3%-71.9% | 4.6%-36.0% | 7.2%-13.5% | 8.3%+93.2% | 4.3%-11.3% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: LGND’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all LGND filings on SEC EDGAR → Not investment advice.