Ligand Pharmaceuticals (LGND) Gross Margin (2010 - 2026)
Ligand Pharmaceuticals (LGND) reported Gross Margin of 93.67% for Q1 2026, up 437.0% on a YoY basis from 17.44% in Q1 2025, and down 1.38% sequentially from 94.99% in Q4 2025.
Ligand Pharmaceuticals (LGND) Gross Margin (2010 - 2026) Analysis & Trends
Ligand Pharmaceuticals (LGND) has 17 years of Gross Margin data on file, last reported at 93.67% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 437.0% year-over-year to 93.67%; the trailing twelve-month figure through Mar 2026 stood at 95.27% (up 246.0% YoY), and the FY2025 full-year result was 94.57%, up 120.0% from the prior year.
- Gross Margin fell to 93.67% in Q1 2026, from 94.99% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 96.71% in Q3 2025 to a low of 57.1% in Q4 2022.
- A 5-year average of 88.55% and a median of 93.0% in 2024 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin plunged 2165 bps in 2022 and soared 3706 bps in 2023, its largest moves.
- Tracing LGND's Gross Margin over 5 years: stood at 57.1% in 2022, then surged by 65 bps to 94.16% in 2023, then decreased by 1 bps to 93.37% in 2024, then grew by 2 bps to 94.99% in 2025, then fell by 1 bps to 93.67% in 2026.
- Business Quant data shows LGND's Gross Margin at 93.67% in Q1 2026, 94.99% in Q4 2025, and 96.71% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 68,785.72 Bn | 68,785.72 Bn | - | - |
| 2 | Nanobiotix | 1,895.57 Bn | 1,895.51 Bn | - | - |
| 3 | BeOne Medicines | 471.35 Bn | 466.56 Bn | 1.35 Bn | 88.95% |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | - |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 86.85% |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 91.79% |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | - |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 90.68% |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | - |
| 10 | Ligand Pharmaceuticals | 6.05 Bn | 5.27 Bn | 48.45 Mn | 93.67% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 93.67% |
| Dec 31, 2025 | 94.99% |
| Sep 30, 2025 | 96.71% |
| Jun 30, 2025 | 93.90% |
| Mar 31, 2025 | 89.30% |
| Dec 31, 2024 | 93.37% |
| Sep 30, 2024 | 95.27% |
| Jun 30, 2024 | 93.00% |
| Mar 31, 2024 | 90.70% |
| Dec 31, 2023 | 94.16% |
| Sep 30, 2023 | 89.40% |
| Jun 30, 2023 | 93.67% |
| Mar 31, 2023 | 91.55% |
| Dec 31, 2022 | 57.10% |
| Sep 30, 2022 | 76.10% |
| Jun 30, 2022 | 75.34% |
| Mar 31, 2022 | 87.13% |
| Dec 31, 2021 | 78.75% |
| Sep 30, 2021 | 80.83% |
| Jun 30, 2021 | 61.20% |