What is Ligand Pharma's earnings per share (EPS)?

Ligand Pharma (LGND) reported diluted earnings per share of $6.13 for fiscal year 2025. This represents a 2886.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ligand Pharma Financials

LGND

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Ligand Pharma (LGND) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LGND FY2025 2026-05-08

Ligand shows asset-light economics, but reported earnings swing far more than cash from year to year, making balance-sheet moves central to the story.

From FY2024 to FY2025, net income swung from -$4.0M to $124.5M. But operating cash flow fell from $97.0M to $49.4M, implying the rebound in reported profit came from items that did not convert into cash with the same force.

Capex was just $452K in FY2025, and free cash flow still tracked operating cash flow closely at $48.9M. Because that near-match also held in earlier years, the business looks light on physical reinvestment; cash generation depends more on the quality and timing of operating inflows than on maintaining a large asset base.

In FY2025, total assets rose to $1.56B while total liabilities rose to $543.4M. Cash ended at $174.9M alongside $428.2M of financing inflow, so the stronger liquidity came with a meaningfully more leveraged balance-sheet posture rather than from internally generated cash alone.

Financial Health Signals

Financial Health Score 71/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Ligand Pharma's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Ligand Pharma has an operating margin of 15.3%, meaning the company retains $15 of operating profit per $100 of revenue. This results in a moderate score of 45/100, indicating healthy but not exceptional operating efficiency. This is up from -13.5% the prior year.

Growth

Ligand Pharma's revenue surged 60.4% year-over-year to $268.1M, reflecting rapid business expansion. This strong growth earns a score of 93/100.

Leverage

Ligand Pharma has a moderate D/E ratio of 0.53. This balance of debt and equity financing earns a leverage score of 59/100.

Liquidity

With a current ratio of 22.23, Ligand Pharma holds $22.23 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 99/100.

Cash Flow

Ligand Pharma converts 18.2% of revenue into free cash flow ($48.9M). This strong cash generation earns a score of 96/100.

Returns

Ligand Pharma's ROE of 12.2% shows moderate profitability relative to equity, earning a score of 33/100. This is up from -0.5% the prior year.

Altman Z-Score Safe

8.07

Ligand Pharma scores 8.07, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($6.0B) relative to total liabilities ($543.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

4/7

Ligand Pharma passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.40x

For every $1 of reported earnings, Ligand Pharma generates $0.40 in operating cash flow ($49.4M OCF vs $124.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

8.7x

Ligand Pharma earns $8.7 in operating income for every $1 of interest expense ($41.0M vs $4.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$268.1M

YoY+60.4%

5Y CAGR+10.4%

10Y CAGR+14.1%

Ligand Pharma generated $268.1M in revenue in fiscal year 2025. This represents an increase of 60.4% from the prior year.

EBITDA

$74.8M

YoY+491.9%

5Y CAGR+3.4%

10Y CAGR+9.6%

Ligand Pharma's EBITDA was $74.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 491.9% from the prior year.

Net Income

$124.5M

YoY+3186.6%

10Y CAGR-5.9%

Ligand Pharma reported $124.5M in net income in fiscal year 2025. This represents an increase of 3186.6% from the prior year.

EPS (Diluted)

$6.13

YoY+2886.4%

10Y CAGR-5.5%

Ligand Pharma earned $6.13 per diluted share (EPS) in fiscal year 2025. This represents an increase of 2886.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$48.9M

YoY-48.6%

5Y CAGR-0.5%

10Y CAGR+1.6%

Ligand Pharma generated $48.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 48.6% from the prior year.

Cash & Debt

$174.9M

YoY+141.9%

5Y CAGR+29.7%

10Y CAGR+6.0%

Ligand Pharma held $174.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

20M

YoY+3.5%

5Y CAGR+4.2%

10Y CAGR-0.1%

Ligand Pharma had 20M shares outstanding in fiscal year 2025. This represents an increase of 3.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

15.3%

YoY+28.8pp

5Y CAGR-7.6pp

10Y CAGR-22.7pp

Ligand Pharma's operating margin was 15.3% in fiscal year 2025, reflecting core business profitability. This is up 28.8 percentage points from the prior year.

Net Margin

46.4%

YoY+48.8pp

5Y CAGR+48.2pp

10Y CAGR-273.2pp

Ligand Pharma's net profit margin was 46.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 48.8 percentage points from the prior year.

Return on Equity

12.2%

YoY+12.7pp

5Y CAGR+12.7pp

10Y CAGR-84.6pp

Ligand Pharma's ROE was 12.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 12.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$81.2M

YoY+278.9%

5Y CAGR+14.9%

10Y CAGR+22.1%

Ligand Pharma invested $81.2M in research and development in fiscal year 2025. This represents an increase of 278.9% from the prior year.

Share Buybacks

$15.0M

5Y CAGR-28.1%

10Y CAGR+40.8%

Ligand Pharma spent $15.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$452K

YoY-75.2%

5Y CAGR-36.7%

10Y CAGR+17.1%

Ligand Pharma invested $452K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 75.2% from the prior year.

LGND Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$268.1M+60.4%	$167.1M+27.3%	$131.3M-33.1%	$196.2M-18.8%	$241.5M+47.7%	$163.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$81.2M+278.9%	$21.4M-12.7%	$24.5M-32.0%	$36.1M+12.4%	$32.1M-20.7%	$40.5M
SG&A Expenses	$92.4M+17.5%	$78.7M+49.0%	$52.8M-24.7%	$70.1M+49.7%	$46.8M-22.0%	$60.0M
Operating Income	$41.0M+281.4%	-$22.6M-289.3%	$11.9M+293.2%	$3.0M-97.1%	$103.9M+176.9%	$37.5M
Interest Expense	$4.7M+55.3%	$3.0M+363.0%	$656K-63.5%	$1.8M-90.8%	$19.6M-28.4%	$27.4M
Income Tax	$34.5M+426.8%	$6.5M-33.4%	$9.8M-76.1%	$41.2M+1094.0%	-$4.1M+21.8%	-$5.3M
Net Income	$124.5M+3186.6%	-$4.0M-107.7%	$52.2M+256.3%	-$33.4M-158.4%	$57.1M+2014.2%	-$3.0M
EPS (Diluted)	$6.13+2886.4%	$-0.22-107.5%	$2.94+248.5%	$-1.98-159.8%	$3.31+1938.9%	$-0.18

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$51.7M-13.3%	$59.7M-48.3%	$115.5M+142.4%	$47.6M+5.1%	$45.3M+5.9%	$42.8M-17.4%	$51.8M+24.8%	$41.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$2.1M-38.8%	$3.5M-83.3%	$21.0M+220.1%	$6.6M-86.9%	$50.1M+1031.9%	$4.4M-22.0%	$5.7M+6.0%	$5.4M
SG&A Expenses	$20.8M-16.7%	$25.0M-12.0%	$28.4M+41.0%	$20.2M+7.3%	$18.8M-26.6%	$25.6M+4.6%	$24.5M+38.9%	$17.6M
Operating Income	$17.4M+25.5%	$13.8M-74.8%	$54.9M+550.5%	$8.4M+123.3%	-$36.2M-275.8%	-$9.6M-406.6%	$3.1M+116.5%	-$19.1M
Interest Expense	$1.7M-2.1%	$1.8M+96.2%	$910K-21.1%	$1.2M+33.0%	$867K-2.3%	$887K+19.7%	$741K-41.6%	$1.3M
Income Tax	-$10.9M-191.0%	$12.0M-49.7%	$23.9M+274.3%	$6.4M+182.5%	-$7.7M+4.7%	-$8.1M-1073.8%	$833K+106.2%	-$13.5M
Net Income	-$13.3M-129.8%	$44.8M-61.8%	$117.3M+2319.5%	$4.8M+111.4%	-$42.5M-36.6%	-$31.1M-333.5%	-$7.2M+86.2%	-$51.9M
EPS (Diluted)	$-0.67	N/A	$5.68+2266.7%	$0.24+110.9%	$-2.21	N/A	$-0.39+86.5%	$-2.88

LGND Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.6B+65.7%	$941.8M+19.6%	$787.2M+3.2%	$762.7M-41.2%	$1.3B-4.7%	$1.4B
Current Assets	$832.3M+151.0%	$331.6M+39.6%	$237.4M-9.9%	$263.6M-43.3%	$464.8M-7.2%	$500.6M
Cash & Equivalents	$174.9M+141.9%	$72.3M+215.0%	$23.0M-49.0%	$45.0M+130.5%	$19.5M-59.0%	$47.6M
Inventory	$9.1M-35.3%	$14.1M-41.1%	$24.0M+80.3%	$13.3M-51.4%	$27.3M+3.2%	$26.5M
Accounts Receivable	$59.6M+55.3%	$38.4M+16.6%	$32.9M+8.2%	$30.4M-64.4%	$85.5M+50.3%	$56.8M
Goodwill	$101.5M-3.5%	$105.3M+1.8%	$103.4M	$0-100.0%	$105.7M-44.3%	$189.7M
Total Liabilities	$543.4M+388.1%	$111.3M+29.0%	$86.3M-47.8%	$165.2M-65.3%	$476.4M-27.0%	$652.8M
Current Liabilities	$37.4M+0.9%	$37.1M+121.1%	$16.8M-83.0%	$98.8M+137.2%	$41.7M-58.4%	$100.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.0B+22.5%	$830.4M+18.5%	$700.9M+17.3%	$597.5M-27.2%	$821.2M+15.7%	$709.5M
Retained Earnings	$608.1M+21.9%	$499.0M-0.8%	$503.0M+11.6%	$450.9M+0.4%	$449.1M+14.6%	$392.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$1.5B-1.8%	$1.6B+5.7%	$1.5B+55.7%	$948.6M+4.8%	$905.4M-3.9%	$941.8M-1.4%	$954.9M+10.2%	$866.4M
Current Assets	$865.4M+4.0%	$832.3M+10.4%	$753.9M+113.6%	$352.9M+14.1%	$309.3M-6.7%	$331.6M+7.2%	$309.4M-0.9%	$312.3M
Cash & Equivalents	$115.1M-34.2%	$174.9M+25.5%	$139.4M+106.0%	$67.7M+41.0%	$48.0M-33.6%	$72.3M+13.7%	$63.6M+250.7%	$18.1M
Inventory	$13.3M+45.4%	$9.1M-23.3%	$11.9M-23.2%	$15.5M+6.0%	$14.6M+3.5%	$14.1M-15.7%	$16.7M-10.3%	$18.7M
Accounts Receivable	$53.4M-10.4%	$59.6M+3.5%	$57.6M+39.4%	$41.3M+7.3%	$38.5M+0.3%	$38.4M+11.8%	$34.3M-8.4%	$37.5M
Goodwill	$101.5M0.0%	$101.5M0.0%	$101.5M0.0%	$101.5M0.0%	$101.5M-3.5%	$105.3M0.0%	$105.3M0.0%	$105.3M
Total Liabilities	$534.8M-1.6%	$543.4M+3.2%	$526.6M+338.6%	$120.1M+9.3%	$109.9M-1.3%	$111.3M-2.1%	$113.7M+24.6%	$91.2M
Current Liabilities	$40.7M+8.6%	$37.4M+22.6%	$30.5M-52.8%	$64.7M+10.3%	$58.7M+58.1%	$37.1M+49.8%	$24.8M+33.4%	$18.6M
Long-Term Debt	$446.9M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$997.3M-2.0%	$1.0B+7.1%	$950.2M+14.9%	$827.3M+4.0%	$795.6M-4.2%	$830.4M-1.3%	$841.2M+8.5%	$775.2M
Retained Earnings	$594.7M-2.2%	$608.1M+5.2%	$578.2M+25.3%	$461.4M+1.1%	$456.5M-8.5%	$499.0M-5.9%	$530.1M-1.3%	$537.2M

LGND Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$49.4M-49.1%	$97.0M+95.8%	$49.6M-64.0%	$137.8M+74.9%	$78.8M+44.4%	$54.6M
Capital Expenditures	$452K-75.2%	$1.8M-48.3%	$3.5M-80.4%	$17.9M+104.6%	$8.8M+96.5%	$4.5M
Free Cash Flow	$48.9M-48.6%	$95.2M+106.8%	$46.1M-61.6%	$119.9M+71.2%	$70.0M+39.7%	$50.1M
Investing Cash Flow	-$377.3M-162.6%	-$143.7M-1129.8%	-$11.7M-107.1%	$163.6M+436.1%	$30.5M-86.8%	$231.6M
Financing Cash Flow	$428.2M+340.8%	$97.1M+262.0%	-$59.9M+78.3%	-$276.0M-100.3%	-$137.8M+55.6%	-$310.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$15.0M	$0	$0	$0	$0-100.0%	$78.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$48.7M+6.0%	$45.9M+250.8%	$13.1M-17.1%	$15.8M+162.1%	-$25.4M-189.4%	$28.5M-22.1%	$36.5M+174.4%	$13.3M
Capital Expenditures	$228K+2433.3%	$9K-40.0%	$15K-93.0%	$214K0.0%	$214K-69.9%	$712K+19.5%	$596K+46.1%	$408K
Free Cash Flow	$48.5M+5.6%	$45.9M+251.1%	$13.1M-16.1%	$15.6M+160.7%	-$25.7M-192.4%	$27.8M-22.8%	$35.9M+178.4%	$12.9M
Investing Cash Flow	-$94.3M-421.1%	-$18.1M+94.9%	-$353.4M-3213.4%	-$10.7M-318.0%	$4.9M+112.7%	-$38.6M+17.0%	-$46.5M+15.1%	-$54.8M
Financing Cash Flow	-$14.1M-269.7%	$8.3M-98.0%	$409.6M+2631.9%	$15.0M+415.9%	-$4.7M-123.3%	$20.4M-63.0%	$55.1M+480.3%	$9.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$15.0M	$0	N/A	N/A	N/A	$0	N/A	N/A

LGND Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	15.3%+28.8pp	-13.5%-22.6pp	9.1%+7.5pp	1.6%-41.4pp	43.0%+20.1pp	22.9%
Net Margin	46.4%+48.8pp	-2.4%-42.1pp	39.7%+56.7pp	-17.0%-40.7pp	23.7%+25.5pp	-1.8%
Return on Equity	12.2%+12.7pp	-0.5%-7.9pp	7.4%+13.0pp	-5.6%-12.5pp	7.0%+7.4pp	-0.4%
Return on Assets	8.0%+8.4pp	-0.4%-7.1pp	6.6%+11.0pp	-4.4%-8.8pp	4.4%+4.6pp	-0.2%
Current Ratio	22.23+13.3	8.93-5.2	14.15+11.5	2.67-8.5	11.15+6.2	5.00
Debt-to-Equity	0.53+0.4	0.13+0.0	0.12-0.2	0.28-0.3	0.58-0.3	0.92
FCF Margin	18.2%-38.7pp	57.0%+21.9pp	35.1%-26.0pp	61.1%+32.1pp	29.0%-1.7pp	30.6%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	33.6%+10.4pp	23.2%-24.4pp	47.6%+29.8pp	17.7%+97.6pp	-79.9%-57.4pp	-22.5%-28.6pp	6.1%+52.1pp	-46.0%
Net Margin	-25.8%-100.9pp	75.1%-26.5pp	101.6%+91.4pp	10.2%+103.8pp	-93.6%-21.0pp	-72.6%-58.8pp	-13.8%+111.1pp	-125.0%
Return on Equity	-1.3%-5.7pp	4.4%-7.9pp	12.3%+11.8pp	0.6%+5.9pp	-5.3%-1.6pp	-3.7%-2.9pp	-0.9%+5.9pp	-6.7%
Return on Assets	-0.9%-3.7pp	2.9%-5.1pp	7.9%+7.4pp	0.5%+5.2pp	-4.7%-1.4pp	-3.3%-2.6pp	-0.8%+5.2pp	-6.0%
Current Ratio	21.28-0.9	22.23-2.5	24.69+19.2	5.45+0.2	5.27-3.7	8.93-3.6	12.49-4.3	16.82
Debt-to-Equity	0.540.0	0.53-0.0	0.55+0.4	0.150.0	0.140.0	0.130.0	0.14+0.0	0.12
FCF Margin	93.7%+16.8pp	76.9%+65.6pp	11.3%-21.4pp	32.7%+89.3pp	-56.6%-121.4pp	64.8%-4.5pp	69.3%+38.3pp	31.1%

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Frequently Asked Questions

What is Ligand Pharma's annual revenue?

Ligand Pharma (LGND) reported $268.1M in total revenue for fiscal year 2025. This represents a 60.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ligand Pharma's revenue growing?

Ligand Pharma (LGND) revenue grew by 60.4% year-over-year, from $167.1M to $268.1M in fiscal year 2025.

Is Ligand Pharma profitable?

Yes, Ligand Pharma (LGND) reported a net income of $124.5M in fiscal year 2025, with a net profit margin of 46.4%.

What is Ligand Pharma's EBITDA?

Ligand Pharma (LGND) had EBITDA of $74.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Ligand Pharma's operating margin?

Ligand Pharma (LGND) had an operating margin of 15.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Ligand Pharma's net profit margin?

Ligand Pharma (LGND) had a net profit margin of 46.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Ligand Pharma's return on equity (ROE)?

Ligand Pharma (LGND) has a return on equity of 12.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ligand Pharma's free cash flow?

Ligand Pharma (LGND) generated $48.9M in free cash flow during fiscal year 2025. This represents a -48.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Ligand Pharma's operating cash flow?

Ligand Pharma (LGND) generated $49.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ligand Pharma's total assets?

Ligand Pharma (LGND) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Ligand Pharma's capital expenditures?

Ligand Pharma (LGND) invested $452K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Ligand Pharma spend on research and development?

Ligand Pharma (LGND) invested $81.2M in research and development during fiscal year 2025.

Does Ligand Pharma buy back shares?

Yes, Ligand Pharma (LGND) spent $15.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Ligand Pharma have outstanding?

Ligand Pharma (LGND) had 20M shares outstanding as of fiscal year 2025.

What is Ligand Pharma's current ratio?

Ligand Pharma (LGND) had a current ratio of 22.23 as of fiscal year 2025, which is generally considered healthy.

What is Ligand Pharma's debt-to-equity ratio?

Ligand Pharma (LGND) had a debt-to-equity ratio of 0.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ligand Pharma's return on assets (ROA)?

Ligand Pharma (LGND) had a return on assets of 8.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ligand Pharma's Altman Z-Score?

Ligand Pharma (LGND) has an Altman Z-Score of 8.07, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Ligand Pharma's Piotroski F-Score?

Ligand Pharma (LGND) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ligand Pharma's earnings high quality?

Ligand Pharma (LGND) has an earnings quality ratio of 0.40x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Ligand Pharma cover its interest payments?

Ligand Pharma (LGND) has an interest coverage ratio of 8.7x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Ligand Pharma?

Ligand Pharma (LGND) scores 71 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.