Ligand Pharmaceuticals vs Rhythm Pharmaceuticals
Ligand Pharmaceuticals is the larger business, with $268m of revenue in fiscal 2025 against $190m for Rhythm Pharmaceuticals (1.4 times as much). Ligand Pharmaceuticals grew faster (60.4% against 45.8%). Ligand Pharmaceuticals kept more of each dollar of sales as profit: a net margin of 46.4% against -103.6%.
| Latest fiscal year | Ligand PharmaceuticalsLGND, 2025 | Rhythm PharmaceuticalsRYTM, 2025 |
|---|---|---|
| Revenue | $268m | $190m |
| Revenue growth | 60.4% | 45.8% |
| Net income | $124m | −$197m |
| Operating margin | — | -101.2% |
| Net margin | 46.4% | -103.6% |
| Return on equity | 13.5% | — |
| Free cash flow | $48.9m | −$117m |
| Cash | $175m | $54.3m |
| Total debt | $0 | $108m |
| Debt to equity | — | 77.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $15.0m | — |
| Employees | 47 | 414 |
| Market value | $6.26bn | $6.02bn |
| Price vs our value range | Above our value range | — |
| Moat score | 32 (Weak) | 25 (Weak) |
| Insider trades, 12 months | 0 buys, 131 sales | 0 buys, 50 sales |