InsiderClue
Stocks · Health care · Pharmaceutical Preparations

LIGAND PHARMACEUTICALS INC

LGND Clue Score47
United States Fiscal year ends December CIK 0000886163
$301.81 +2.31% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $301.81 +135.37% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue109.0Operating income43.9Net income−1.6EPS, diluted−0.08Fiscal year 2017Revenue141.1 +29.5%Operating income68.1Net income12.6EPS, diluted0.53Fiscal year 2018Revenue251.5 +78.2%Operating income163.7Net income143.3 +1,041.5%EPS, diluted5.96 +1,024.5%Fiscal year 2019Revenue120.3 −52.2%Operating income807.1Net income629.3 +339.1%EPS, diluted31.85 +434.4%Fiscal year 2020Revenue163.6 +36.0%Operating income37.5Net income−3.0 −100.5%EPS, diluted−0.18 −100.6%Fiscal year 2021Revenue241.5 +47.7%Operating income103.9Net income57.1EPS, diluted3.31Fiscal year 2022Revenue196.2 −18.8%Operating income3.0Net income−33.4 −158.4%EPS, diluted−1.98 −159.8%Fiscal year 2023Revenue131.3 −33.1%Operating income11.9Net income52.2EPS, diluted2.94Fiscal year 2024Revenue167.1 +27.3%Operating income−22.6Net income−4.0 −107.7%EPS, diluted−0.22 −107.5%Fiscal year 2025Revenue268.1 +60.4%Operating income41.0Net income124.5EPS, diluted6.13
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 109.0 141.1 251.5 120.3 163.6 241.5 196.2 131.3 167.1 268.1
Growth +29.5% +78.2% −52.2% +36.0% +47.7% −18.8% −33.1% +27.3% +60.4%
Operating income 43.9 68.1 163.7 807.1 37.5 103.9 3.0 11.9 −22.6 41.0
Net income −1.6 12.6 143.3 629.3 −3.0 57.1 −33.4 52.2 −4.0 124.5
Growth +1,041.5% +339.1% −100.5% −158.4% −107.7%
EPS, diluted −0.08 0.53 5.96 31.85 −0.18 3.31 −1.98 2.94 −0.22 6.13
Growth +1,024.5% +434.4% −100.6% −159.8% −107.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin40.3%Net margin−1.5%Free cash flow margin54.0%Fiscal year 2017Operating margin48.2%Net margin8.9%Free cash flow margin61.2%Fiscal year 2018Operating margin65.1%Net margin57.0%Free cash flow margin76.8%Fiscal year 2019Operating margin671.0%Net margin523.2%Free cash flow margin−26.5%Fiscal year 2020Operating margin22.9%Net margin−1.8%Free cash flow margin30.6%Fiscal year 2021Operating margin43.0%Net margin23.7%Free cash flow margin29.0%Fiscal year 2022Operating margin1.5%Net margin−17.0%Free cash flow margin61.1%Fiscal year 2023Operating margin9.1%Net margin39.7%Free cash flow margin35.1%Fiscal year 2024Operating margin−13.5%Net margin−2.4%Free cash flow margin57.0%Fiscal year 2025Operating margin15.3%Net margin46.4%Free cash flow margin18.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 40.3% 48.2% 65.1% 671.0% 22.9% 43.0% 1.5% 9.1% −13.5% 15.3%
Net margin −1.5% 8.9% 57.0% 523.2% −1.8% 23.7% −17.0% 39.7% −2.4% 46.4%
Free cash flow margin 54.0% 61.2% 76.8% −26.5% 30.6% 29.0% 61.1% 35.1% 57.0% 18.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow60.7Capital expenditure−1.9Free cash flow58.9Buybacks−3.9Fiscal year 2017Operating cash flow88.6Capital expenditure−2.2Free cash flow86.4 +46.8%Buybacks−2.0Fiscal year 2018Operating cash flow194.1Capital expenditure−0.9Free cash flow193.2 +123.5%Buybacks−122.9Fiscal year 2019Operating cash flow−29.3Capital expenditure−2.6Free cash flow−31.9 −116.5%Buybacks−453.0Fiscal year 2020Operating cash flow54.6Capital expenditure−4.5Free cash flow50.1Buybacks−78.0Fiscal year 2021Operating cash flow78.8Capital expenditure−8.8Free cash flow70.0 +39.7%Buybacks0.0Fiscal year 2022Operating cash flow137.9Capital expenditure−17.9Free cash flow119.9 +71.2%Buybacks0.0Fiscal year 2023Operating cash flow49.6Capital expenditure−3.5Free cash flow46.1 −61.6%Buybacks0.0Fiscal year 2024Operating cash flow97.0Capital expenditure−1.8Free cash flow95.2 +106.8%Buybacks0.0Fiscal year 2025Operating cash flow49.4Capital expenditure−0.5Free cash flow48.9 −48.6%Buybacks−15.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 60.7 88.6 194.1 −29.3 54.6 78.8 137.9 49.6 97.0 49.4
Capital expenditure −1.9 −2.2 −0.9 −2.6 −4.5 −8.8 −17.9 −3.5 −1.8 −0.5
Free cash flow 58.9 86.4 193.2 −31.9 50.1 70.0 119.9 46.1 95.2 48.9
Growth +46.8% +123.5% −116.5% +39.7% +71.2% −61.6% +106.8% −48.6%
Buybacks −3.9 −2.0 −122.9 −453.0 −78.0 0.0 0.0 0.0 0.0 −15.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash18.8Shareholders’ equity341.3Fiscal year 2017Cash20.6Shareholders’ equity399.8Fiscal year 2018Cash117.2Shareholders’ equity560.9Fiscal year 2019Cash71.5Shareholders’ equity767.2Fiscal year 2020Cash47.6Shareholders’ equity709.5Fiscal year 2021Cash19.5Shareholders’ equity821.2Fiscal year 2022Cash45.0Shareholders’ equity597.5Fiscal year 2023Cash23.0Shareholders’ equity700.9Fiscal year 2024Cash72.3Shareholders’ equity830.4Fiscal year 2025Cash174.9Shareholders’ equity1,017.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 18.8 20.6 117.2 71.5 47.6 19.5 45.0 23.0 72.3 174.9
Shareholders’ equity 341.3 399.8 560.9 767.2 709.5 821.2 597.5 700.9 830.4 1,017.2

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
40.3% 48.2% 65.1% 671.0% 22.9% 43.0% 1.5% 9.1% −13.5% 15.3%
7.3% 40.6% 68.9% 662.3% 0.8% 29.9% 18.4% 48.5% 1.5% 59.3%
−1.5% 8.9% 57.0% 523.2% −1.8% 23.7% −17.0% 39.7% −2.4% 46.4%
54.0% 61.2% 76.8% −26.5% 30.6% 29.0% 61.1% 35.1% 57.0% 18.2%
Spending
19.5% 19.1% 11.1% 46.5% 24.8% 13.3% 18.4% 18.7% 12.8% 30.3%
25.4% 20.3% 15.0% 34.8% 36.7% 19.4% 35.7% 40.2% 47.1% 34.5%
1.7% 1.5% 0.4% 2.1% 2.7% 3.6% 9.1% 2.7% 1.1% 0.2%
129.7% 78.1% 17.3% 21.0% −410.7% −5.7% 114.5% 15.5% 260.1% 21.7%
Returns
−0.5% 3.1% 25.6% 82.0% −0.4% 7.0% −5.6% 7.4% −0.5% 12.2%
−0.3% 1.9% 11.4% 42.1% −0.2% 4.4% −4.4% 6.6% −0.4% 8.0%
Balance and payout
38.4% 37.6% 55.5% 48.7% 47.9% 36.7% 21.7% 11.0% 11.8% 34.8%
6.6% 2.3% 63.6% n/a 155.6% 0.0% 0.0% 0.0% 0.0% 30.7%