gross profit bridgeinconsistent2018-12-31
Withheld: gross profit could not be reconciled with the rest of this filer’s statement.
Revenue
$268.09M
Fiscal year ended 2025-12-31Operating income
$41.00M
Fiscal year ended 2025-12-31Free cash flow
$48.91M
Fiscal year ended 2025-12-31LIGAND PHARMACEUTICALS INC (LGND) reported revenue of $268.09M and net income of $124.45M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from LIGAND PHARMACEUTICALS INC’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $268.09M | $167.13M | $131.31M | $196.24M | $241.54M | $163.56M | $120.28M | $251.45M | $141.10M | $108.97M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $6.34M | $5.37M | $5.57M |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $103.40M |
| Operating income | $41.00M | -$22.61M | $11.94M | $3.04M | $103.85M | $37.50M | $807.08M | $163.73M | $68.08M | $43.88M |
| Net income | $124.45M | -$4.03M | $52.15M | -$33.36M | $57.14M | -$2.98M | $629.30M | $143.32M | $12.56M | -$1.64M |
| Research & development | $81.18M | $21.42M | $24.54M | $36.08M | $32.10M | $40.50M | $55.91M | $27.86M | $26.89M | $21.22M |
| Weighted-average diluted shares | shares 20.29M | shares 18.29M | shares 17.76M | shares 16.87M | shares 17.25M | shares 16.82M | shares 19.76M | shares 24.07M | shares 23.48M | shares 20.83M |
| Pretax income | $158.96M | $2.52M | $63.66M | $36.01M | $72.20M | $1.29M | $796.64M | $173.33M | $57.23M | $7.96M |
| Income tax expense | $34.51M | $6.55M | $9.84M | $41.23M | -$4.15M | -$5.31M | $167.34M | $30.01M | $44.68M | $10.33M |
| Diluted EPS | $6.13 | $-0.22 | $2.94 | $-1.98 | $3.31 | $-0.18 | $31.85 | $5.96 | $0.53 | $-0.08 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | $92.45M | $78.65M | $52.79M | $70.06M | $46.79M | $60.01M | $41.88M | $37.73M | $28.65M | $27.65M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $174.93M | $72.31M | $22.95M | $45.01M | $19.52M | $47.62M | $71.54M | $117.16M | $20.62M | $18.75M |
| Total assets | $1.56B | $941.77M | $787.22M | $762.67M | $1.30B | $1.36B | $1.49B | $1.26B | $671.02M | $601.58M |
| Current assets | $832.27M | $331.56M | $237.43M | $263.60M | $464.75M | $500.56M | $1.12B | $870.54M | $237.02M | $163.05M |
| Total liabilities | $543.42M | $111.34M | $86.30M | $165.18M | $476.43M | $652.76M | $727.68M | $699.89M | $252.37M | $230.73M |
| Current liabilities | $37.45M | $37.11M | $16.78M | $98.81M | $41.66M | $100.11M | $17.00M | $82.25M | $238.87M | $227.13M |
| Total equity incl. NCI | $1.02B | $830.44M | $700.91M | $597.48M | $821.16M | $709.52M | $767.23M | $560.91M | $399.79M | $341.29M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $9.13M | $14.11M | $23.97M | $13.29M | $27.33M | $26.49M | $7.30M | $7.12M | $4.37M | $1.92M |
| Accounts receivable | $59.60M | $38.38M | $32.92M | $30.42M | $85.45M | $56.85M | $30.39M | $55.85M | $25.60M | $14.70M |
| Goodwill | $101.54M | $105.25M | $103.37M | $0 | $105.67M | $189.66M | $95.23M | $86.65M | $85.96M | $72.21M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | $3.24M | $5.23M | $2.43M | $5.31M | $8.40M | $3.78M | $2.42M | $4.18M | $2.26M | $2.73M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $49.36M | $97.05M | $49.58M | $137.85M | $78.80M | $54.59M | -$29.34M | $194.06M | $88.57M | $60.73M |
| Capital expenditures | $452.00K | $1.82M | $3.52M | $17.92M | $8.76M | $4.46M | $2.55M | $887.00K | $2.16M | $1.85M |
| Investing cash flow | -$377.32M | -$143.66M | -$11.68M | $163.62M | $30.52M | $231.65M | $466.92M | -$423.27M | -$79.18M | -$134.42M |
| Financing cash flow | $428.22M | $97.14M | -$59.95M | -$275.99M | -$137.76M | -$310.54M | -$485.17M | $328.58M | -$7.52M | -$4.99M |
| Net change in cash | $102.62M | $49.35M | -$22.05M | $25.48M | Unavailable | Unavailable | Unavailable | Unavailable | $1.87M | -$78.68M |
| Stock-based compensation | $46.85M | $41.09M | $25.74M | $60.28M | $38.78M | $30.73M | $24.52M | $20.85M | $24.92M | $18.89M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $15.00M | $0 | $0 | $0 | $0 | $78.00M | $453.05M | $122.87M | $1.97M | $3.90M |
| Depreciation & amortization | $33.78M | $35.24M | $36.52M | $51.53M | $51.07M | $25.69M | $18.36M | $12.78M | $10.96M | $11.29M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $48.91M | $95.23M | $46.06M | $119.93M | $70.04M | $50.13M | -$31.89M | $193.17M | $86.41M | $58.88M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 94.9% |
| Operating margin | 15.3% | -13.5% | 9.1% | 1.5% | 43.0% | 22.9% | 671.0% | 65.1% | 48.2% | 40.3% |
| FCF margin | 18.2% | 57.0% | 35.1% | 61.1% | 29.0% | 30.6% | -26.5% | 76.8% | 61.2% | 54.0% |
| SBC / revenue | 17.5% | 24.6% | 19.6% | 30.7% | 16.1% | 18.8% | 20.4% | 8.3% | 17.7% | 17.3% |
| Current ratio | 22.23x | 8.93x | 14.15x | 2.67x | 11.15x | 5.00x | 66.09x | 10.58x | 0.99x | 0.72x |
| Revenue YoY growth | 60.4% | 27.3% | -33.1% | -18.8% | 47.7% | 36.0% | -52.2% | 78.2% | 29.5% | Unavailable |
| Net margin | 46.4% | -2.4% | 39.7% | -17.0% | 23.7% | -1.8% | 523.2% | 57.0% | 8.9% | -1.5% |
| R&D / revenue | 30.3% | 12.8% | 18.7% | 18.4% | 13.3% | 24.8% | 46.5% | 11.1% | 19.1% | 19.5% |
| CapEx / revenue | 0.2% | 1.1% | 2.7% | 9.1% | 3.6% | 2.7% | 2.1% | 0.4% | 1.5% | 1.7% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 21.7% | 260.1% | 15.5% | 114.5% | -5.7% | -410.7% | 21.0% | 17.3% | 78.1% | 129.7% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open LGND in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-07View SEC filing
10-Q · Filed 2026-05-08View SEC filing
10-K · Filed 2026-02-27View SEC filing
10-Q · Filed 2025-11-07View SEC filing
10-Q · Filed 2025-08-08View SEC filing
10-Q · Filed 2025-05-09View SEC filing
Reconciliation checks needing review
4 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
gross profit bridgeinconsistent2017-12-31
Withheld: gross profit could not be reconciled with the rest of this filer’s statement.
balance equationreview2017-12-31
Difference 18859000 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.
balance equationreview2016-12-31
Difference 29563000 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.