Ligand Pharmaceuticals annual operating margin
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Ligand Pharmaceuticals Operating Margin Growth & History (LGND)
Ligand Pharmaceuticals's operating margin was 15.29% for fiscal 2025.
View full Ligand Pharmaceuticals company overviewLigand Pharmaceuticals annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 15.29% | +28.82 pp |
| 2024 | 2024-12-31 | −13.53% | −22.62 pp |
| 2023 | 2023-12-31 | 9.09% | +7.55 pp |
| 2022 | 2022-12-31 | 1.55% | −41.45 pp |
| 2021 | 2021-12-31 | 42.99% | +20.07 pp |
| 2020 | 2020-12-31 | 22.93% | −648.06 pp |
| 2019 | 2019-12-31 | 670.99% | +605.87 pp |
| 2018 | 2018-12-31 | 65.11% | +16.87 pp |
| 2017 | 2017-12-31 | 48.25% | +7.97 pp |
| 2016 | 2016-12-31 | 40.27% | +2.27 pp |
| 2015 | 2015-12-31 | 38.00% | +7.59 pp |
| 2014 | 2014-12-31 | 30.41% | −0.10 pp |
| 2013 | 2013-12-31 | 30.51% | +29.90 pp |
| 2012 | 2012-12-31 | 0.61% | +3.54 pp |
| 2011 | 2011-12-31 | −2.92% | +121.57 pp |
| 2010 | 2010-12-31 | −124.50% | −98.90 pp |
| 2009 | 2009-12-31 | −25.60% | — |
Ligand Pharmaceuticals quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 13.49% | −4.24 pp |
| Q1 2026 | 2026-03-31 | 33.58% | +113.47 pp |
| Q4 2025 | 2025-12-31 | 23.20% | +45.71 pp |
| Q3 2025 | 2025-09-30 | 47.58% | +41.51 pp |
| Q2 2025 | 2025-06-30 | 17.73% | +63.72 pp |
| Q1 2025 | 2025-03-31 | −79.89% | −89.53 pp |
| Q4 2024 | 2024-12-31 | −22.51% | −10.56 pp |
| Q3 2024 | 2024-09-30 | 6.07% | −3.30 pp |
| Q2 2024 | 2024-06-30 | −45.99% | −38.47 pp |
| Q1 2024 | 2024-03-31 | 9.65% | −22.65 pp |
| Q4 2023 | 2023-12-31 | −11.95% | +27.94 pp |
| Q3 2023 | 2023-09-30 | 9.36% | −11.47 pp |
| Q2 2023 | 2023-06-30 | −7.52% | −24.80 pp |
| Q1 2023 | 2023-03-31 | 32.30% | +26.46 pp |
| Q4 2022 | 2022-12-31 | −39.89% | −142.08 pp |
| Q3 2022 | 2022-09-30 | 20.84% | −3.39 pp |
| Q2 2022 | 2022-06-30 | 17.28% | −36.74 pp |
| Q1 2022 | 2022-03-31 | 5.84% | −2.71 pp |
| Q4 2021 | 2021-12-31 | 102.19% | +53.68 pp |
| Q3 2021 | 2021-09-30 | 24.22% | +15.27 pp |
| Q2 2021 | 2021-06-30 | 54.02% | +36.88 pp |
| Q1 2021 | 2021-03-31 | 8.55% | −2.87 pp |
| Q4 2020 | 2020-12-31 | 48.51% | +86.21 pp |
| Q3 2020 | 2020-09-30 | 8.95% | +29.75 pp |
| Q2 2020 | 2020-06-30 | 17.14% | +33.67 pp |
| Q1 2020 | 2020-03-31 | 11.42% | −1889.37 pp |
| Q4 2019 | 2019-12-31 | −37.70% | −93.32 pp |
| Q3 2019 | 2019-09-30 | −20.79% | −71.95 pp |
| Q2 2019 | 2019-06-30 | −16.53% | −94.46 pp |
| Q1 2019 | 2019-03-31 | 1,900.80% | +1834.84 pp |
| Q4 2018 | 2018-12-31 | 55.63% | −0.55 pp |
| Q3 2018 | 2018-09-30 | 51.16% | +1.74 pp |
| Q2 2018 | 2018-06-30 | 77.93% | +31.44 pp |
| Q1 2018 | 2018-03-31 | 65.96% | +31.05 pp |
| Q4 2017 | 2017-12-31 | 56.18% | +5.50 pp |
| Q3 2017 | 2017-09-30 | 49.42% | +24.13 pp |
| Q2 2017 | 2017-06-30 | 46.49% | +26.16 pp |
| Q1 2017 | 2017-03-31 | 34.91% | −16.01 pp |
| Q4 2016 | 2016-12-31 | 50.68% | −1.30 pp |
| Q3 2016 | 2016-09-30 | 25.28% | −23.28 pp |
| Q2 2016 | 2016-06-30 | 20.33% | −3.37 pp |
| Q1 2016 | 2016-03-31 | 50.92% | +27.98 pp |
| Q4 2015 | 2015-12-31 | 51.99% | +10.09 pp |
| Q3 2015 | 2015-09-30 | 48.57% | +24.98 pp |
| Q2 2015 | 2015-06-30 | 23.70% | +10.90 pp |
| Q1 2015 | 2015-03-31 | 22.94% | −9.02 pp |
| Q4 2014 | 2014-12-31 | 41.90% | −1.71 pp |
| Q3 2014 | 2014-09-30 | 23.59% | −0.02 pp |
| Q2 2014 | 2014-06-30 | 12.80% | −3.00 pp |
| Q1 2014 | 2014-03-31 | 31.96% | −1.79 pp |
| Q4 2013 | 2013-12-31 | 43.61% | +12.28 pp |
| Q3 2013 | 2013-09-30 | 23.61% | +45.96 pp |
| Q2 2013 | 2013-06-30 | 15.80% | +47.41 pp |
| Q1 2013 | 2013-03-31 | 33.75% | +48.63 pp |
| Q4 2012 | 2012-12-31 | 31.33% | −4.72 pp |
| Q3 2012 | 2012-09-30 | −22.35% | +34.24 pp |
| Q2 2012 | 2012-06-30 | −31.61% | −20.76 pp |
| Q1 2012 | 2012-03-31 | −14.89% | +23.18 pp |
| Q4 2011 | 2011-12-31 | 36.05% | +236.96 pp |
| Q3 2011 | 2011-09-30 | −56.59% | +5.55 pp |
| Q2 2011 | 2011-06-30 | −10.85% | — |
| Q1 2011 | 2011-03-31 | −38.06% | — |
| Q3 2010 | 2010-09-30 | −200.91% | — |
| Q2 2010 | 2010-06-30 | −62.14% | — |
Ligand Pharmaceuticals operating margin trends
Over the last five reported fiscal years, Ligand Pharmaceuticals's operating margin decreased from 22.93% to 15.29%, a change of −7.63 percentage points. The latest reported quarter, Q2 2026, shows 13.49%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Ligand Pharmaceuticals filings at SEC.gov ↗