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Ligand Pharmaceuticals Incorporated

Ligand Pharmaceuticals Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $268.1 million, up 60.4% from fiscal 2024.

Revenue: −31.8%
EPS: −123.9%
Free cash flow: −268.5%
Total debt: +52.6%

Quarter to September 2026, against a year earlier

306.43 7.43 +2.48%

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Market cap: $6.0B
P/E: 116×
Fwd P/E: 88.3×
Dividend yield: —
F-score: 6/9
Altman Z: 5.45
Beneish M: −4.02
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Ligand Pharmaceuticals Incorporated (LGND) Current ratio

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Ligand Pharmaceuticals Incorporated's current ratio at the end of the quarter to 30 September 2026 was 1.2×, down 21.0× from fiscal 2025 (22.2×). Over the past ten years it has ranged from 0.7× (fiscal 2016) to 66.1× (fiscal 2019); the current reading is higher than 91% of that period. That is below the Biotechnology industry median of 4.9× and below the Healthcare sector median of 3.1×.

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<iframe src="https://stockrow.com/embed/LGND/current-ratio" width="100%" height="360" style="border:0" loading="lazy" title="Ligand Pharmaceuticals Incorporated current ratio, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/LGND/metrics/current-ratio">Ligand Pharmaceuticals Incorporated (LGND) current ratio — stockrow.com</a></p>

Period	Current ratio	Change
FY2025	22.2×	148.77%
FY2024	8.9×	(36.85%)
FY2023	14.1×	430.32%
FY2022	2.7×	(76.08%)
FY2021	11.2×	123.09%
FY2020	5.0×	(92.43%)
FY2019	66.1×	524.41%
FY2018	10.6×	966.63%
FY2017	1.0×	38.22%
FY2016	0.7×	(25.50%)

Period	Current ratio	Change
Sep 2026	1.2×	(96.10%)
Jun 2026	31.2×	46.51%
Mar 2026	21.3×	(4.25%)
Dec 2025	22.2×	(9.97%)
43 more quarters	Free account

Against its own ten years

Low 0.7× High 66.1×

Ten-year median 8.9×

Current reading's percentile 91

Company	Current ratio
ORKA Oruka Therapeutics, Inc. compare	38.5×
BLTE Belite Bio, Inc. Sponsored ADR compare	33.6×
CGON CG Oncology, Inc. compare	22.2×
IONS Ionis Pharmaceuticals, Inc. compare	7.9×
IMVT Immunovant, Inc. compare	7.3×
PTCT PTC Therapeutics, Inc. compare	3.3×
KOD Kodiak Sciences Inc. compare	2.5×
MIRM Mirum Pharmaceuticals, Inc. compare	2.1×
LGND Ligand Pharmaceuticals Incorporated	1.2×
Biotechnology industry median	4.9×
Healthcare sector median	3.1×
Market median	1.6×

What Current ratio is

Current Ratio shows whether a company’s short-term assets are enough to cover the bills and debts it must pay within the next year.

Current Assets (Total) ÷ Current Liabilities (Total)

The full definition of Current ratio →

Ligand Pharmaceuticals Incorporated (LGND) Current ratio

Current ratio, annual

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Against its own ten years

Current ratio against peers

What Current ratio is

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Current ratio, annual

Annual newest first

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Against its own ten years

Current ratio against peers

What Current ratio is

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