$5.6 B

LGND Mkt cap, 19-Sep-2018

$146.2 M

Ligand Pharmaceuticals Revenue Q2, 2018
Ligand Pharmaceuticals Gross profit (Q2, 2018)144.3 M
Ligand Pharmaceuticals Gross profit margin (Q2, 2018), %98.7%
Ligand Pharmaceuticals Net income (Q2, 2018)118.4 M
Ligand Pharmaceuticals EBIT (Q2, 2018)107.2 M
Ligand Pharmaceuticals Cash, 30-Jun-2018151.5 M

Ligand Pharmaceuticals Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

49 m64.5 m71.9 m109 m141.1 m

Revenue growth, %

32%11%52%

Cost of goods sold

5.6 m5.4 m

Gross profit

103.4 m135.7 m

Gross profit Margin, %

95%96%

R&D expense

21.2 m26.9 m

General and administrative expense

26.6 m28.7 m

Operating expense total

47.8 m73 m

Depreciation and amortization

12.1 m

EBIT

14.9 m19.6 m27.3 m(2.4 m)12.6 m

EBIT margin, %

31%30%38%(2%)9%

Interest expense

2.1 m4.9 m11.8 m12.2 m11.4 m

Income tax expense

(10.3 m)(44.7 m)

Net Income

11.4 m10.9 m254.9 m(1.6 m)12.6 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Revenue

13 m16 m10.6 m15 m14.6 m18.4 m17.7 m29.6 m19.5 m21.6 m29.3 m28 m56.2 m146.2 m

Cost of goods sold

2.5 m2.5 m1.2 m1.5 m1.1 m955 k720 k999 k341 k903 k788 k1.9 m

Gross profit

10.5 m13.5 m9.4 m13.5 m13.5 m28.7 m18.8 m20.6 m28.9 m27.1 m55.4 m144.3 m

Gross profit Margin, %

80%85%89%90%93%97%96%95%99%97%99%99%

R&D expense

2.4 m3.1 m2.7 m3 m4 m4 m2.5 m4 m4.5 m5.9 m8.7 m4.8 m7.4 m13.5 m

General and administrative expense

4.8 m5.1 m5.2 m6.7 m6 m7.2 m5 m6.8 m6.9 m6.3 m7.3 m6.5 m7.6 m16.9 m

Operating expense total

9.9 m10.9 m9.3 m11.4 m11.3 m14.1 m9.1 m14.6 m15.1 m16.2 m19.1 m15 m19.1 m39 m

Depreciation and amortization

3.3 m6.6 m

EBIT

3.1 m5.1 m1.4 m3.5 m3.3 m4.4 m8.6 m5.9 m4.4 m5.5 m10.2 m6.1 m37 m107.2 m

EBIT margin, %

24%32%13%24%23%24%49%20%22%25%35%22%66%73%

Interest expense

394 k248 k181 k1.5 m3 m3 m2.9 m3 m3.1 m3.1 m2.9 m2.9 m2.6 m16.9 m

Interest income

3.6 m

Pre tax profit

2 m2.2 m1.2 m901 k(74 k)22.3 m7.3 m9.6 m(9.6 m)1.2 m6.2 m8.3 m55.3 m150.9 m

Income tax expense

(60 k)(53 k)47 k(124 k)(15 k)(265 k)217.3 m(3.7 m)3.9 m(160 k)(1.1 m)(2.2 m)(10 m)(32.5 m)

Net Income

100 2.1 m1.3 m1.3 m754 k23.6 m224.5 m6.6 m(5.8 m)50 5.1 m6.1 m45.3 m118.4 m

Ligand Pharmaceuticals Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

11.6 m160.2 m97.4 m18.8 m20.6 m

Accounts Receivable

2.2 m12.6 m6.2 m14.7 m25.6 m

Inventories

1.4 m269 k1.6 m1.9 m4.4 m

Current Assets

24.9 m185.2 m215.6 m163.1 m237 m

PP&E

867 k486 k372 k1.8 m4.2 m

Goodwill

12.2 m12.2 m12.2 m72.2 m86 m

Total Assets

104.7 m258 m533.9 m601.6 m671 m

Accounts Payable

4 m7.7 m4.1 m2.7 m2.3 m

Short-term debt

9.1 m

Current Liabilities

28.9 m22.8 m20.8 m227.1 m238.9 m

Long-term debt

Total Liabilities

230.7 m252.4 m

Additional Paid-in Capital

718 m680.7 m701.5 m769.7 m798.2 m

Retained Earnings

(671.3 m)(659.3 m)(402 m)(431.1 m)(400.9 m)

Total Equity

24.4 m304.4 m341.3 m399.8 m

Financial Leverage

10.6 x1.8 x1.8 x1.7 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Cash

3.3 m13 m14.5 m180.7 m165.8 m108.2 m93.8 m31.3 m61.4 m86.6 m10.6 m60.2 m51 m151.5 m

Accounts Receivable

5.5 m4.7 m3.1 m5.8 m7.4 m5.5 m5.5 m11.8 m10 m6.6 m7.1 m13.5 m37.1 m42 m

Inventories

1.8 m1.9 m817 k1.1 m2.8 m802 k1.2 m1.8 m3.8 m4 m7.6 m6.8 m10.5 m9.5 m

Current Assets

16.6 m33.4 m28.6 m198.5 m191.7 m196.7 m210.3 m133.1 m126.6 m140.7 m174.7 m197.2 m349.1 m1.5 b

PP&E

834 k690 k619 k551 k440 k405 k355 k567 k1.2 m1.8 m1.9 m1.9 m4.1 m4.2 m

Goodwill

12.2 m12.2 m12.2 m12.2 m12.2 m12.2 m12.2 m73 m72.4 m72.4 m72.2 m72.2 m86 m86 m

Total Assets

101.7 m105.5 m99.8 m272.3 m263.2 m304.8 m521.7 m613.4 m616.8 m600.9 m629.7 m640 m754.7 m1.9 b

Accounts Payable

4.3 m3.7 m5.1 m4.9 m7.4 m2.7 m3.1 m2.7 m2.3 m2.8 m6.5 m1.8 m3.4 m2.7 m

Short-term debt

12.4 m5.8 m2.7 m

Current Liabilities

32.5 m21 m18.6 m18.4 m18.2 m17.9 m16.3 m12.2 m220.3 m226.1 m227 m225.8 m247 m632.9 m

Long-term debt

Total Debt

12.4 m5.8 m2.7 m

Total Liabilities

56.9 m40.5 m36.8 m229.5 m230.8 m235.7 m229.5 m221.4 m224.9 m230.5 m230.9 m230.6 m257.5 m1.2 b

Additional Paid-in Capital

758.1 m723.3 m726.8 m707.2 m684.4 m692.8 m697.1 m783.9 m789.3 m762.6 m777.1 m784.4 m808.8 m874.2 m

Retained Earnings

(673.2 m)(669.2 m)(667.7 m)(666.4 m)(658.6 m)(635 m)(410.5 m)(395.4 m)(401.2 m)(428 m)(408.4 m)(402.3 m)(327.4 m)(254.2 m)

Total Equity

44.8 m65 m371.8 m385.1 m481.1 m619.8 m

Financial Leverage

2.3 x1.6 x1.7 x1.7 x1.6 x3 x

Ligand Pharmaceuticals Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

11.4 m10.9 m254.9 m(1.6 m)12.6 m

Depreciation and Amortization

2.7 m2.7 m2.6 m10.6 m11.7 m

Accounts Receivable

2.4 m(10 m)6.5 m(8.5 m)(8.4 m)

Inventories

646 k4.4 m(401 k)(244 k)(843 k)

Accounts Payable

(1.7 m)

Cash From Operating Activities

20.7 m20.6 m41.7 m63 m93.6 m

Purchases of PP&E

(6 k)(93 k)(1.9 m)(2.2 m)

Cash From Investing Activities

(5 m)(2 m)(112.9 m)(143.2 m)(84.2 m)

Long-term Borrowings

(19.6 m)(9.4 m)

Cash From Financing Activities

(16.5 m)130 m8.4 m1.5 m(7.5 m)

Interest Paid

1.8 m494 k1.8 m1.8 m1.8 m

Income Taxes Paid

26 k18 k28 k38 k157 k

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018Q2, 2018

Net Income

100 2.1 m1.3 m1.3 m754 k23.6 m224.5 m6.6 m(5.8 m)50 5.1 m45.3 m118.4 m

Depreciation and Amortization

1.3 m2.5 m2.7 m2.7 m3 m3 m6 m

Accounts Receivable

3.1 m5.8 m7.4 m7.1 m5.5 m11.8 m10 m6.6 m7.6 m(11.5 m)(16.4 m)

Inventories

817 k1.1 m2.8 m(533 k)1.2 m1.8 m3.8 m4 m(1.2 m)(5 m)(4.4 m)

Accounts Payable

5.1 m4.9 m7.4 m2.7 m3.1 m2.7 m2.3 m2.8 m6.5 m321 k368 k

Cash From Operating Activities

17.6 m24.2 m60.8 m134.4 m

Purchases of PP&E

(27 k)(87 k)

Cash From Investing Activities

(75 m)(30.7 m)(33.6 m)(620.3 m)

Long-term Borrowings

(21.8 m)

Cash From Financing Activities

5.4 m(1.7 m)

Interest Paid

903 k919 k919 k919 k

Income Taxes Paid

13 k96 k171 k285 k

Ligand Pharmaceuticals Ratios

USDY, 2018

Financial Leverage

3 x
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