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

Ligand Pharmaceuticals Incorporated (LGND) Net margin

Alert me on Net margin

Ligand Pharmaceuticals Incorporated's net margin over the twelve months to 30 September 2026 was 20.3%, down 26.2 percentage points from fiscal 2025 (46.4%). Over the past ten years it has ranged from −17.0% (fiscal 2022) to 523.2% (fiscal 2019); the current reading is higher than 73% of that period. That is above the Biotechnology industry median of 0.00% and above the Healthcare sector median of 0.00%.

Net margin, annual

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Annual newest first

Period Net margin Change (points)
FY2025 46.4% 48.83
FY2024 −2.41% (42.13)
FY2023 39.7% 56.72
FY2022 −17.0% (40.66)
FY2021 23.7% 25.48
FY2020 −1.82% (525.01)
FY2019 523.2% 466.19
FY2018 57.0% 48.10
FY2017 8.90% 10.40
FY2016 −1.50% (321.08)

Quarterly newest first

Period Net margin Change (points)
Sep 2026 −36.2% (112.33)
Jun 2026 76.2% 101.96
Mar 2026 −25.8% (100.86)
Dec 2025 75.1% (26.51)
43 more quarters

Against its own ten years

Low −17.0% High 523.2%
Ten-year median 23.7%
Current reading's percentile 51

Net margin against peers

Company Net margin
LGND Ligand Pharmaceuticals Incorporated 20.3%
KOD Kodiak Sciences Inc. compare 0.00%
ORKA Oruka Therapeutics, Inc. compare 0.00%
IMVT Immunovant, Inc. compare 0.00%
BLTE Belite Bio, Inc. Sponsored ADR compare 0.00%
PTCT PTC Therapeutics, Inc. compare −9.17%
IONS Ionis Pharmaceuticals, Inc. compare −64.7%
MIRM Mirum Pharmaceuticals, Inc. compare −134.8%
CGON CG Oncology, Inc. compare −3,602.7%
Biotechnology industry median 0.00%
Healthcare sector median 0.00%
Market median 1.06%

What Net margin is

Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.

Net Income Allotted to Shareholders ÷ Revenue

The full definition of Net margin →

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