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Ligand Pharmaceuticals Incorporated

LGND Healthcare Biotechnology

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%
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
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Ligand Pharmaceuticals Incorporated (LGND) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, Ligand Pharmaceuticals Incorporated (LGND) trades at a EV/EBITDA of 109×. Over the past ten years it has ranged from 0.0× (September 2025) to 174× (February 2025); the current reading is higher than 97% of that period. That is above the Biotechnology industry median of 0.7× and above the Healthcare sector median of 8.4×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 48.1× (68.05%)
FY2024 151× 513.82%
FY2023 24.5× 37.38%
FY2022 17.9× 70.33%
FY2021 10.5× (19.88%)
FY2020 13.1× 1,071.93%
FY2019 1.1× (87.21%)
FY2018 8.7× (62.11%)
FY2017 23.1× (5.01%)
FY2016 24.3× (29.22%)

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 114× 128.56%
Jun 2026 49.7× 66.65%
Mar 2026 29.8× (38.06%)
Dec 2025 48.1× (28.08%)
43 more quarters

Against its own ten years

Low 0.0× High 174×
Ten-year median 23.8×
Current reading's percentile 97

EV/EBITDA against peers

Company EV/EBITDA
BLTE Belite Bio, Inc. Sponsored ADR compare n/m
MIRM Mirum Pharmaceuticals, Inc. compare n/m
CGON CG Oncology, Inc. compare n/m
IMVT Immunovant, Inc. compare n/m
IONS Ionis Pharmaceuticals, Inc. compare n/m
ORKA Oruka Therapeutics, Inc. compare n/m
KOD Kodiak Sciences Inc. compare n/m
PTCT PTC Therapeutics, Inc. compare 32.4×
LGND Ligand Pharmaceuticals Incorporated 109×
Biotechnology industry median 0.7×
Healthcare sector median 8.4×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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