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Ligand Pharmaceuticals Inc cash flow statement

In fiscal 2025, Ligand Pharmaceuticals Inc's operations generated $49.4m of cash; it spent $452,000 on capital projects, leaving free cash flow of $48.9m. It returned $15.0m through buybacks.

Cash flow statement

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

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations−34−27−102121426189194−29557913850974991
Depreciation and amortisation52333331111131826515237353435
Stock-based pay3234611121925212531396026414757
Capital spending1001000221349184200
Free cash flow−34−27−1−02021425986193−32507012046954991
Free cash flow after stock pay−38−29−5−5159294061172−561931602054234
Share buybacks—00006804212345378000015—
Shares issued000500———————00370—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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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.