Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $109M | $141M | $251M | $120M | $164M | $242M | $196M | $131M | $167M | $268M |
| Revenue growth | — | 29.5% | 78.2% | -52.2% | 36.0% | 47.7% | -18.8% | -33.1% | 27.3% | 60.4% |
| Operating income | $43.9M | $68.1M | $164M | $807M | $37.5M | $104M | $3.04M | $11.9M | -$22.6M | $41.0M |
| Operating margin | 40.3% | 48.2% | 65.1% | 671.0% | 22.9% | 43.0% | 1.5% | 9.1% | -13.5% | 15.3% |
| Net income | -$1.64M | $12.6M | $143M | $629M | -$2.98M | $57.1M | -$33.4M | $52.2M | -$4.03M | $124M |
| Net margin | -1.5% | 8.9% | 57.0% | 523.2% | -1.8% | 23.7% | -17.0% | 39.7% | -2.4% | 46.4% |
| EPS (diluted) | -$0.08 | $0.53 | $5.96 | $31.85 | -$0.18 | $3.31 | -$1.98 | $2.94 | -$0.22 | $6.13 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $60.7M | $88.6M | $194M | -$29.3M | $54.6M | $78.8M | $138M | $49.6M | $97.0M | $49.4M |
| Capital expenditures | $1.85M | $2.16M | $887K | $2.55M | $4.46M | $8.76M | $17.9M | $3.52M | $1.82M | $452K |
| Free cash flow | $58.9M | $86.4M | $193M | -$31.9M | $50.1M | $70.0M | $120M | $46.1M | $95.2M | $48.9M |
| Share buybacks | $3.90M | $1.97M | $123M | $453M | $78.0M | $0.00 | $0.00 | $0.00 | $0.00 | $15.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $18.8M | $20.6M | $117M | $71.5M | $47.6M | $19.5M | $45.0M | $23.0M | $72.3M | $175M |
| Total assets | $602M | $671M | $1.26B | $1.49B | $1.36B | $1.30B | $763M | $787M | $942M | $1.56B |
| Total liabilities | $231M | $252M | $700M | $728M | $653M | $476M | $165M | $86.3M | $111M | $543M |
| Shareholders' equity | $341M | $400M | $561M | $767M | $710M | $821M | $597M | $701M | $830M | $1.02B |
| Retained earnings | -$431M | -$401M | -$229M | $400M | $392M | $449M | $451M | $503M | $499M | $608M |
| Shares (wtd avg diluted) | 20.8M | 23.5M | 24.1M | 19.8M | 16.8M | 17.2M | 16.9M | 17.8M | 18.3M | 20.3M |
Every figure is extracted from LIGAND PHARMACEUTICALS INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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