Company / Operating Margin
Ligand Pharmaceuticals, Inc. Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
15.3%
FY2025
5-year range
-13.5% / 43.0%
FY2021-FY2025
Trend
+213.0%
vs FY2024
Sector context
#31 of 136
Health Care
What the data says
Operating Margin changed +213% YoY in FY2025, a notable deviation from the 9-year average annual change of +187%.
Based on SEC 10-K filings.
15.3% in FY2025 with a 5-year CAGR of -7.6%. Top quartile in the Health Care sector.
Improved from 9.1% to 15.3% over the past 2 years.
Health Care sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +13.7pp
- 5-Year Change
- -7.6pp
- 10-Year Change
- -
Sector benchmark
Top 23% in Health CareTop 23% of 136This company 15.3% Sector average -778.9%
▼
+102.0% above sector average
Key checks
Key Insights
- In FY2025, operating margin increased 213.0% year-over-year.
- Currently 794.2pp above the Health Care sector average.
- Peak operating margin was recorded in FY2019.
- Lowest operating margin in the period was in FY2024.
Company context
Key Data Points
- Low earnings quality (accrual-heavy earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 15.3% | +213.0% |
| FY2024 | -13.5% | -248.8% |
| FY2023 | 9.1% | +486.5% |
| FY2022 | 1.6% | -96.4% |
| FY2021 | 43.0% | +87.5% |
| FY2020 | 22.9% | -96.6% |
| FY2019 | 671.0% | +930.5% |
| FY2018 | 65.1% | -72.0% |
| FY2017 | 232.6% | +477.6% |
| FY2016 | 40.3% | +6.0% |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026