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  4. Financial Ratios
Ligand Pharmaceuticals Incorporated logo
Ligand Pharmaceuticals Incorporated LGND
$ 295.54 1.19%
report update icon

Quarterly report 2026-Q2
added 08-07-2026

Ligand Pharmaceuticals Incorporated Financial Ratios 2025-2008 | LGND

Brief overview of Ligand Pharmaceuticals Incorporated's multiples and efficiency

Current figures are compared with the company's own five-year history for 2018–2025.

The latest available valuation ratios are P/E 15.79x (median 17.37x), EV/EBITDA 31.21x (median 29.32x), P/S 7.33x (median 8.58x). Ratios sit near their own comparison base, with an average deviation of -4.9% from five-year medians.

Current earnings relative to valuation equal about 6.3% on the 1/P/E measure. This is a valuation reference, not an expected payout.

Current measures of operating quality are ROE 12.2%, ROA 8%, ROCE 4%. Quality ratios send a mostly positive signal: resources are productive, with room for improvement.

Price, earnings and growth produce a PEG of 0.18x. A value below one indicates moderate pricing relative to expected growth.

The cash conversion cycle shortened from 107.5 days to 66.7 days, or 40.8 days. Working capital returns faster.

Valuation takeaway

Ligand Pharmaceuticals Incorporated trades near its familiar ratio range. A new earnings or profitability trend is needed to change the view.

Annual Financial Ratios Ligand Pharmaceuticals Incorporated

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

P/E

 15.8 -550.6 26.0 -36.4 36.3 -1005.0 2.7 17.4 276.2 -1287.8 7.7 96.7 111.9 -752.7 23.7 -10.5 -108.7 -

P/S

 7.3 13.3 10.3 6.2 8.6 18.3 14.2 9.9 24.6 19.3 27.5 18.0 26.1 12.6 8.0 4.6 5.4 -

EPS

 6.4 -0.2 3.0 -2.0 3.4 -0.2 33.1 6.8 0.6 -0.1 11.6 0.6 0.6 -0.0 0.5 -0.5 -0.1 -

EV (Enterprise Value)

 2.33 B 2.26 B 1.42 B 1.33 B 2.53 B 3.6 B 2.36 B 3.07 B 3.72 B 2.35 B 2.11 B 1.24 B 1.32 B 462 M 348 M 177 M 196 M -28.8 M

EBITDA per Share

 3.87 0.69 2.8 3.24 9.32 3.9 0.587 8.48 3.81 2.67 1.57 1.14 0.918 0.182 0.135 -1.38 -0.28 -

EV/EBITDA

 31.2 178.8 29.3 24.4 19.4 105.7 204.0 16.8 46.0 41.9 67.4 51.3 68.4 114.1 98.3 -6.5 -36.7 -

PEG

 0.18 -5.01 0.24 -0.27 0.23 -7.1 0.01 0.02 -0.32 12.8 0.0 18.04 -0.06 7.12 -0.13 - - -

P/B

 1.9 2.7 1.9 2.0 2.5 4.2 2.2 4.4 8.7 6.2 6.5 47.6 25.8 15.0 27.9 31.1 - -

P/CF

 39.8 22.9 27.4 8.8 26.3 55.0 -53.5 13.7 40.1 60.8 64.1 72.3 81.1 -46.8 -192.9 -4.0 -6.3 -

ROE %

 12.23 -0.49 7.44 -5.58 6.96 -0.42 82.02 25.55 3.14 -0.48 84.53 49.26 23.02 -1.99 117.70 213.88 -52.03 -

ROA %

 7.97 -0.43 6.63 -4.37 4.40 -0.22 42.10 11.37 1.87 -0.27 48.19 4.66 10.91 -0.51 8.32 -13.73 - -

ROCE %

 4.03 -2.72 1.70 0.51 12.65 5.29 -0.39 13.89 15.75 12.00 5.53 8.80 21.09 1.29 -0.18 604.21 -266.21 -

Current Ratio

 2.9 8.5 9.1 4.6 2.7 2.1 66.1 10.6 1.0 0.7 10.3 8.1 0.9 0.7 0.7 1.0 - -

DSO

 66.7 77.8 88.0 107.8 107.5 97.3 126.7 81.1 77.5 61.0 59.3 77.1 50.1 104.0 149.6 7.7 - -

DIO

 - - - - - - 234.7 410.3 297.5 126.0 102.6 10.7 88.6 172.0 96.7 - - -

DPO

 - - - - - - 77.8 240.9 153.7 179.1 256.6 307.5 251.6 593.4 822.7 - - -

Operating Cycle

 66.7 77.8 88.0 107.8 107.5 97.3 361.4 491.4 375.0 187.0 161.9 87.9 138.8 276.0 246.3 7.7 - -

Cash Conversion Cycle

 66.7 77.8 88.0 107.8 107.5 97.3 283.5 250.5 221.3 7.9 -94.7 -219.7 -112.8 -317.4 -576.4 7.7 - -

All numbers in USD currency

Quarterly Financial Ratios Ligand Pharmaceuticals Incorporated

2026-Q2 2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

EPS

 2.42 -0.67 5.99 0.25 -2.21 - -0.39 -2.88 4.86 - -0.59 0.13 2.46 - 0.02 -0.05 -0.91 - 0.82 1.84 1.1 0.36 -0.42 1.38 -1.46 -0.43 -0.81 -0.74 32.59 -2.02 3.19 3.45 2.13 -2.02 3.19 3.45 2.13 0.15 0.05 -0.3 0.32 0.32 10.01 1.19 0.04 0.35 0.06 0.08 0.1 0.09 0.1 0.3 0.07 0.05 -0.01 -0.13 0.06 0.24 -0.21 -0.02 0.49

EBITDA per Share

 1.25 1.29 - - -1.43 - - - 0.66 - - - 1.39 - 3.12 2.11 0.94 - 3.21 4.26 1.05 - 1.02 0.93 0.44 - 0.35 0.18 40.6 - 1.64 3.59 1.89 - 1.14 0.88 0.62 - 0.66 0.45 0.85 - 0.46 0.25 0.2 - 0.21 0.1 0.28 - 0.18 0.11 0.23 - - - - - -0.13 0.03 -0.05

ROE %

 16.60 6.25 6.74 -12.30 -2.20 3.13 1.59 2.79 15.98 5.30 5.35 6.77 4.49 -2.00 -0.31 3.55 6.08 8.02 8.84 6.20 5.41 -0.42 -2.19 -3.24 -8.23 82.02 75.41 89.41 104.33 25.55 22.50 27.34 32.60 35.85 45.56 29.02 8.91 -0.48 3.11 86.74 98.48 96.86 120.99 41.92 38.04 45.69 22.65 21.74 27.97 23.02 23.26 18.57 -3.25 -1.99 51.30 0.98 5.38 57.30 -51.04 -5.16 -

ROA %

 9.80 2.89 3.01 -10.92 -2.01 2.68 1.35 2.40 13.56 4.14 4.18 5.43 3.74 -1.44 -0.36 2.05 3.53 4.92 5.34 3.77 2.95 -0.22 -1.13 -1.66 -4.25 42.10 39.22 45.58 52.35 11.37 8.41 13.10 18.20 21.36 27.17 17.31 5.38 -0.27 1.51 40.92 46.63 45.69 47.16 8.06 4.00 4.66 3.71 5.09 10.29 10.91 10.14 8.08 -0.16 -0.51 2.36 -0.91 1.16 8.06 -3.46 -0.35 7.98

ROCE %

 9.43 3.99 2.62 -5.62 -6.27 -1.72 -1.26 -1.93 2.73 2.36 3.87 4.49 5.06 2.86 4.79 9.10 8.65 8.38 8.91 7.98 2.69 2.06 1.39 0.32 107.05 106.52 110.68 123.87 131.01 23.28 27.40 26.50 16.54 9.94 11.54 8.58 9.74 7.19 10.81 11.05 11.30 6.87 20.29 21.83 39.37 37.96 44.15 33.78 36.54 17.16 11.78 -1.26 -7.48 -15.40 -55.10 -59.61 -3.17 - -39.69 -9.90 -

Current Ratio

 1.8 2.9 2.8 7.9 8.2 8.5 8.4 9.5 8.5 9.1 7.6 8.1 4.9 4.6 4.5 3.9 3.5 2.7 2.8 2.7 2.4 2.1 2.1 2.1 2.1 2.0 2.0 2.0 2.0 1.8 1.8 1.8 1.8 2.7 2.7 2.7 2.7 2.6 2.6 2.6 2.6 2.2 2.2 2.2 2.2 1.1 1.1 1.1 1.1 1.9 1.9 1.9 1.9 1.3 1.3 1.3 1.3 1.2 1.2 1.2 1.2

DSO

 86.2 97.9 39.1 76.4 77.4 - 63.2 72.4 90.4 - 88.8 99.0 61.8 - 98.2 94.8 159.0 - 86.2 60.7 92.1 74.1 124.0 125.2 120.0 88.4 77.6 85.6 86.5 78.7 102.7 56.6 66.2 46.3 70.0 83.4 62.8 35.1 62.0 68.7 32.1 26.6 31.8 30.6 58.8 50.1 77.0 108.7 42.5 13.8 15.6 21.2 26.7 30.7 65.7 72.9 86.6 43.1 97.1 74.7 -

DIO

 - - - - - - - - - - - - - - - - - - - - - - - - - - 211.6 276.8 170.5 - 445.2 573.2 665.7 - 167.3 441.9 - - - - - - - - - - - - - - - - - - - - - - - - -

DPO

 - - - - - - - - - - - - - - - - - - - - - - - - - - 70.2 91.8 78.1 - 261.4 336.6 373.0 - 86.4 228.3 - - - - - - - - - - - - - - - - - - - - - - - - -

Operating Cycle

 - - 39.1 76.4 77.4 - 63.2 72.4 90.4 - 88.8 99.0 61.8 - 98.2 94.8 159.0 - 86.2 60.7 92.1 74.1 124.0 125.2 120.0 88.4 289.2 362.4 257.1 78.7 548.0 629.9 731.8 46.3 237.3 525.3 62.8 35.1 62.0 68.7 32.1 26.6 31.8 30.6 58.8 50.1 77.0 108.7 42.5 13.8 15.6 21.2 26.7 30.7 65.7 72.9 86.6 43.1 97.1 74.7 -

Cash Conversion Cycle

 - - 39.1 76.4 77.4 - 63.2 72.4 90.4 - 88.8 99.0 61.8 - 98.2 94.8 159.0 - 86.2 60.7 92.1 74.1 124.0 125.2 120.0 88.4 219.0 270.6 179.0 78.7 286.6 293.2 358.9 46.3 150.9 297.1 62.8 35.1 62.0 68.7 32.1 26.6 31.8 30.6 58.8 50.1 77.0 108.7 42.5 13.8 15.6 21.2 26.7 30.7 65.7 72.9 86.6 43.1 97.1 74.7 -

All numbers in USD currency

Multiples are an important financial analysis tool for the company Ligand Pharmaceuticals Incorporated, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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