15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $268M | $124M | 0.0% | 15.3% | $49M | — | $175M |
| 2024 | $167M | -$4M | 0.0% | -13.5% | $95M | — | $72M |
| 2023 | $131M | $52M | 0.0% | 9.1% | $46M | — | $23M |
| 2022 | $196M | -$33M | 0.0% | 1.5% | $120M | — | $45M |
| 2021 | $242M | $57M | 0.0% | 43.0% | $70M | — | $20M |
| 2020 | $164M | -$3M | 0.0% | 22.9% | $50M | — | $48M |
| 2019 | $120M | $629M | 0.0% | 671.0% | -$32M | — | $72M |
| 2018 | $251M | $143M | 97.5% | 65.1% | $193M | — | $117M |
| 2017 | $141M | $13M | 96.2% | 48.2% | $86M | — | $21M |
| 2016 | $109M | -$2M | 94.9% | 40.3% | $59M | — | $19M |
| 2015 | — | $230M | — | — | $42M | — | $97M |
| 2014 | — | $12M | — | — | $21M | — | $160M |
| 2013 | — | $11M | — | — | $20M | — | $12M |
| 2012 | — | -$527000 | — | — | -$434000 | $28M | $12M |
| 2011 | — | $10M | — | — | -$1M | — | $7M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $52M | -$13M | 0.0% | 33.6% | $48M | — | $115M |
| Dec '25 | $60M | $45M | 0.0% | 23.2% | $46M | — | $175M |
| Sep '25 | $115M | $117M | 0.0% | 47.6% | $13M | — | $139M |
| Jun '25 | $48M | $5M | 0.0% | 17.7% | $16M | — | $68M |
| Mar '25 | $45M | -$42M | 0.0% | -79.9% | -$26M | — | $48M |
| Dec '24 | $43M | -$31M | 0.0% | -22.5% | $28M | — | $72M |
| Sep '24 | $52M | -$7M | 0.0% | 6.1% | $36M | — | $64M |
| Jun '24 | $42M | -$52M | 0.0% | -46.0% | $13M | — | $18M |
| Mar '24 | $31M | $86M | 0.0% | 9.6% | $19M | — | $50M |
| Dec '23 | $28M | $18M | 0.0% | -11.9% | $8M | — | $23M |
| Sep '23 | $33M | -$10M | 0.0% | 9.4% | $7M | — | $19M |
| Jun '23 | $26M | $2M | 0.0% | -7.5% | -$285000 | — | $28M |
| Mar '23 | $44M | $42M | 0.0% | 32.3% | $32M | — | $89M |
| Dec '22 | $50M | -$17M | 0.0% | -39.9% | $51M | — | $45M |
| Sep '22 | $59M | $404000 | 0.0% | 20.8% | $16M | — | $4M |
| Jun '22 | $50M | -$895000 | 0.0% | 17.3% | $5M | — | $5M |
| Mar '22 | $37M | -$15M | 0.0% | 5.8% | $47M | — | $15M |
| Dec '21 | $56M | -$5M | 0.0% | 66.8% | $25M | — | $20M |
| Sep '21 | $60M | $14M | 0.0% | 26.3% | $18M | — | $23M |
| Jun '21 | $79M | $31M | 0.0% | 58.0% | $19M | — | $22M |
How the market has priced LGND against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Ligand Pharmaceuticals Inc's revenue has grown 10.4% per year. These are computed facts, not advice.
As of FY2025, Ligand Pharmaceuticals Inc reported — of total debt against $175M of cash; operating income covered interest expense 8.7×.
In FY2025, gross margin was —, operating margin 15.3%, and net margin 46.4%.
As of Jun '26, Ligand Pharmaceuticals Inc traded at a price-to-earnings ratio of about 47.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.