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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Ligand Pharmaceuticals (LGND) Operating Margin (2016 - 2025)

Ligand Pharmaceuticals' Operating Margin history spans 16 years, with the latest figure at 23.2% for Q4 2025.

  • For Q4 2025, Operating Margin rose 4571.0% year-over-year to 23.2%; the TTM value through Dec 2025 reached 15.29%, up 2882.0%, while the annual FY2025 figure was 15.29%, 2882.0% up from the prior year.
  • Operating Margin for Q4 2025 was 23.2% at Ligand Pharmaceuticals, down from 47.58% in the prior quarter.
  • Across five years, Operating Margin topped out at 66.82% in Q4 2021 and bottomed at 79.89% in Q1 2025.
  • The 5-year median for Operating Margin is 13.7% (2021), against an average of 10.37%.
  • The largest YoY upside for Operating Margin was 6372bps in 2025 against a maximum downside of -8953bps in 2025.
  • A 5-year view of Operating Margin shows it stood at 66.82% in 2021, then tumbled by -64bps to 24.17% in 2022, then plummeted by -149bps to 11.95% in 2023, then plummeted by -88bps to 22.51% in 2024, then skyrocketed by 203bps to 23.2% in 2025.
  • Per Business Quant, the three most recent readings for LGND's Operating Margin are 23.2% (Q4 2025), 47.58% (Q3 2025), and 17.73% (Q2 2025).