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) Return on invested capital

Alert me on Return on invested capital

Ligand Pharmaceuticals Incorporated's return on invested capital over the twelve months to 30 September 2026 was 1.27%, down 2.4 percentage points from fiscal 2025 (3.62%). Over the past ten years it has ranged from −2.50% (fiscal 2024) to 149.5% (fiscal 2019); the current reading is higher than 45% of that period. That is above the Biotechnology industry median of 0.00% and above the Healthcare sector median of 0.00%.

Return on invested capital, annual

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Annual newest first

Period Return on invested capital Change (points)
FY2025 3.62% 6.12
FY2024 −2.50% (3.91)
FY2023 1.41% 1.01
FY2022 0.40% (7.70)
FY2021 8.10% 4.97
FY2020 3.13% (146.41)
FY2019 149.5% 125.37
FY2018 24.2% 14.53
FY2017 9.64% 3.44
FY2016 6.20% 0.07

Against its own ten years

Low −2.50% High 149.5%
Ten-year median 6.13%
Current reading's percentile 45

Return on invested capital against peers

Company Return on invested capital
PTCT PTC Therapeutics, Inc. compare 17.7%
LGND Ligand Pharmaceuticals Incorporated 1.27%
KOD Kodiak Sciences Inc. compare 0.00%
IONS Ionis Pharmaceuticals, Inc. compare 0.00%
IMVT Immunovant, Inc. compare 0.00%
BLTE Belite Bio, Inc. Sponsored ADR compare −9.55%
ORKA Oruka Therapeutics, Inc. compare −40.2%
MIRM Mirum Pharmaceuticals, Inc. compare −184.7%
CGON CG Oncology, Inc. compare −4,111.6%
Biotechnology industry median 0.00%
Healthcare sector median 0.00%
Market median 0.00%

What Return on invested capital is

Return on Invested Capital shows how much after-tax operating profit a company earns on the money its lenders and shareholders have put in.

TTM: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) (latest quarter) + Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter) − Cash & Short Term Investments (latest quarter)); Annual: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) + Long Term Debt (Total) + Current Part of Debt − Cash & Short Term Investments)

The full definition of Return on invested capital →

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