Ligand Pharmaceuticals (LGND) Operating Margin (2010 - 2026)
Ligand Pharmaceuticals (LGND) recorded Operating Margin of 13.49% in Q2 2026, down 4.24 percentage points from 17.73% a year earlier and down 20.09 percentage points from the prior quarter.
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Analysis
Ligand Pharmaceuticals (LGND) Operating Margin (2010 - 2026) Analysis & Trends
On a TTM basis, Ligand Pharmaceuticals' Operating Margin came in at 32.61% as of Jun 30, 2026, up 50.87 percentage points year-over-year; for FY2025, it was 15.29%, up 28.82 percentage points from FY2024.
- Annual Operating Margin has a five-year change of -7.63 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at -13.53% in FY2024 (-22.62 pp), 9.09% in FY2023 (+7.55 pp), 1.55% in FY2022 (-41.45 pp) and 42.99% in FY2021 (+20.07 pp).
- The Q2 2026 figure is the lowest quarterly Operating Margin since Q1 2025.
- On a year-over-year basis, Operating Margin rose in four of the last eight quarters, with an average year-over-year change of +19.60 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 113.47 percentage points in Q1 2026, against a drop of 106.71 percentage points in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 33.58% (Q1 2026), 23.20% (Q4 2025) and 47.58% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,146.94 Bn | 1,115.53 Bn | 19.71 Bn | 51.16% |
| 2 | Johnson & Johnson | 624.96 Bn | 543.49 Bn | 17.26 Bn | 28.21% |
| 3 | AbbVie | 510.15 Bn | 483.27 Bn | 12.70 Bn | 37.86% |
| 4 | Merck | 366.13 Bn | 320.51 Bn | 12.21 Bn | -3.52% |
| 5 | Novartis Ag | 297.75 Bn | 261.74 Bn | 11.24 Bn | 32.97% |
| 6 | Astrazeneca | 261.93 Bn | 235.62 Bn | 12.86 Bn | 20.57% |
| 7 | Amgen | 236.51 Bn | 191.91 Bn | 7.24 Bn | 34.95% |
| 8 | Gilead Sciences | 194.27 Bn | 168.47 Bn | 6.22 Bn | -133.21% |
| 9 | Pfizer | 171.74 Bn | 118.39 Bn | 10.94 Bn | 28.37% |
| 10 | Ligand Pharmaceuticals | 6.15 Bn | 2.61 Bn | - | 13.49% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.49% |
| Mar 31, 2026 | 33.58% |
| Dec 31, 2025 | 23.20% |
| Sep 30, 2025 | 47.58% |
| Jun 30, 2025 | 17.73% |
| Mar 31, 2025 | -79.89% |
| Dec 31, 2024 | -22.51% |
| Sep 30, 2024 | 6.07% |
| Jun 30, 2024 | -45.99% |
| Mar 31, 2024 | 9.65% |
| Dec 31, 2023 | -11.95% |
| Sep 30, 2023 | 9.36% |
| Jun 30, 2023 | -7.52% |
| Mar 31, 2023 | 32.30% |
| Dec 31, 2022 | -39.89% |
| Sep 30, 2022 | 20.84% |
| Jun 30, 2022 | 17.28% |
| Mar 31, 2022 | 5.84% |
| Dec 31, 2021 | 66.82% |
| Sep 30, 2021 | 26.31% |
API Access
Ligand Pharmaceuticals Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=LGND&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "LGND", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=LGND&period=max&api_key=YOUR_API_KEY");
const data = await res.json();