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Friday 6 November 2026 Export LGND’s income statement to Excel — free account

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) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Ligand Pharmaceuticals Incorporated (LGND) trades at a P/B ratio of 6.2×. Over the past ten years it has ranged from 1.1× (March 2020) to 40.0× (March 2015); the current reading is higher than 92% of that period. That is above the Biotechnology industry median of 2.0× and above the Healthcare sector median of 2.3×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 3.6× 52.31%
FY2024 2.4× 32.24%
FY2023 1.8× (4.26%)
FY2022 1.9× (15.84%)
FY2021 2.2× 37.88%
FY2020 1.6× (12.13%)
FY2019 1.8× (49.57%)
FY2018 3.6× (29.80%)
FY2017 5.2× 16.57%
FY2016 4.4× (21.47%)

Quarterly newest first

Period P/B ratio Change
Sep 2026 6.5× (1.09%)
Jun 2026 6.6× 64.68%
Mar 2026 4.0× 10.74%
Dec 2025 3.6× (1.52%)
43 more quarters

Against its own ten years

Low 1.1× High 40.0×
Ten-year median 2.6×
Current reading's percentile 98

P/B ratio against peers

Company P/B ratio
MIRM Mirum Pharmaceuticals, Inc. compare n/m
PTCT PTC Therapeutics, Inc. compare n/m
ORKA Oruka Therapeutics, Inc. compare 5.5×
CGON CG Oncology, Inc. compare 5.6×
LGND Ligand Pharmaceuticals Incorporated 6.2×
BLTE Belite Bio, Inc. Sponsored ADR compare 7.5×
IMVT Immunovant, Inc. compare 8.0×
IONS Ionis Pharmaceuticals, Inc. compare 14.6×
KOD Kodiak Sciences Inc. compare 94.0×
Biotechnology industry median 2.0×
Healthcare sector median 2.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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