Ligand Pharmaceuticals Inc balance sheet

At the end of fiscal 2025, Ligand Pharmaceuticals Inc had total assets of $1.56bn, total liabilities of $543m and shareholders' equity of $1.02bn. It held $175m in cash against $0 of debt.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ligand Pharmaceuticals Inc: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash and equivalents	16	3	7	12	12	160	97	19	21	117	72	48	20	45	23	72	175	56
Receivables	—	1	6	5	2	13	6	15	26	56	30	57	85	30	33	38	60	83
Inventory	—	0	1	2	1	0	2	2	4	7	7	26	27	13	24	14	9	15
Total current assets	—	37	32	24	25	185	215	163	237	871	1,124	501	465	264	237	332	832	608
Goodwill	—	1	12	12	12	12	12	72	86	87	95	190	106	0	103	105	102	208
Total assets	—	76	121	104	105	258	503	602	671	1,261	1,495	1,362	1,298	763	787	942	1,561	2,237
Accounts payable	—	9	11	6	4	8	4	3	2	4	2	4	8	5	2	5	3	4
Deferred revenue (current)	—	0	1	0	0	1	—	0	0	3	2	29	1	0	1	1	1	1
Total current liabilities	—	33	44	35	29	23	223	227	239	82	17	100	42	99	17	37	37	501
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0	448
Long-term debt	—	0	20	28	0	196	205	—	—	—	—	—	—	—	—	0	446	680
Total debt	0	0	30	42	9	196	205	—	—	636	639	442	321	77	—	0	0	1,160
Total liabilities	—	72	104	78	55	234	226	231	252	700	728	653	476	165	86	111	543	1,276
Shareholders' equity	4	−5	8	26	50	26	237	341	400	561	767	710	821	597	701	830	1,017	962
Non-controlling interests and other (assets − liabilities − equity)	—	8	8	—	—	—	40	30	19	—	—	—	—	—	—	—	—	—
Shares outstanding	—	—	21m	21m	20m	20m	20m	21m	21m	21m	17m	16m	17m	17m	18m	19m	20m	20m

US$ millions unless shown otherwise. Fiscal quarters.

Ligand Pharmaceuticals Inc: balance sheet, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Receivables	38	38	41	58	60	53	67	83
Inventory	14	15	15	12	9	13	10	15
Total current assets	332	309	353	754	832	865	1,457	608
Goodwill	105	102	102	102	102	102	102	208
Total assets	942	905	949	1,477	1,561	1,532	2,186	2,237
Accounts payable	5	5	9	4	3	5	9	4
Deferred revenue (current)	1	0	0	1	1	1	1	1
Total current liabilities	37	59	65	31	37	41	47	501
Short-term debt	—	—	—	—	0	—	—	448
Long-term debt	0	—	—	445	446	447	1,127	680
Total debt	0	—	—	445	446	447	1,127	1,128
Total liabilities	111	110	120	527	543	535	1,218	1,276
Shareholders' equity	830	796	827	950	1,017	997	968	962
Shares outstanding	19m	19m	19m	20m	20m	20m	20m	20m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Ligand Pharmaceuticals Inc's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ligand Pharmaceuticals Inc.