Ligand Pharmaceuticals (LGND) Operating Margin (2010 - 2026)

Ligand Pharmaceuticals has disclosed Operating Margin across 17 years of filings, most recently posting 33.58% for Q1 2026.

• Operating Margin for Q1 2026 came in at 33.58%, up 11347.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 34.46% (up 6852.0% YoY), and the FY2025 annual result was 15.29%, up 2882.0% from the prior year.
• Operating Margin came in at 33.58% for Q1 2026 at Ligand Pharmaceuticals, up from 23.2% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 47.58% in Q3 2025 to a low of 79.89% in Q1 2025.
• The 5-year median for Operating Margin is 9.36% (2023), against an average of 0.92%.
• Across the five-year window, Operating Margin tumbled 10671 bps in 2022 and soared 11347 bps in 2026, its largest moves.
• Ligand Pharmaceuticals' Operating Margin stood at 39.89% in 2022, then jumped by 70 bps to 11.95% in 2023, then plunged by 88 bps to 22.51% in 2024, then soared by 203 bps to 23.2% in 2025, then jumped by 45 bps to 33.58% in 2026.
• The last three Operating Margin figures came in at 33.58% (Q1 2026), 23.2% (Q4 2025), and 47.58% (Q3 2025), per Business Quant data.