Ligand Pharmaceuticals Incorporated (LGND)

Days of inventory on hand (DOH)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Inventory turnover		2.66	2.71	1.32	0.84	0.44	1.20	1.53	3.70	3.97	1,963.50	1.63	2.29	2.28	1.88	1.42	0.92	1.15	1.54	4.70	1.66
DOH	days	137.15	134.81	276.06	435.42	830.44	304.02	238.64	98.64	91.85	0.19	223.32	159.21	160.42	194.47	256.52	397.77	317.82	237.76	77.61	219.50

December 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.66
= 137.15

The days of inventory on hand (DOH) for Ligand Pharmaceuticals Incorporated have fluctuated significantly over the analyzed period.

The trend shows a gradual increase in DOH from March 31, 2020 (219.50 days) to December 31, 2020 (317.82 days), indicating a potential buildup of inventory levels. This upward trend continued until March 31, 2021, reaching a peak of 397.77 days, suggesting a higher level of inventory relative to sales.

Subsequently, there was a notable decrease in DOH by June 30, 2021 (256.52 days) and further reductions in the following periods until September 30, 2021 (194.47 days). This decline could indicate efforts to improve inventory management efficiency by reducing excess inventory levels.

From December 31, 2021, to March 31, 2022, there was a relatively stable period with DOH hovering around 160 days. However, there was a significant decrease to 0.19 days on September 30, 2022, pointing towards a potential inventory correction or optimization strategies.

The trend turned upwards again with a rise in DOH to 830.44 days by December 31, 2023, which may indicate challenges in managing inventory effectively. This peak was followed by a decline in DOH in the subsequent periods to December 31, 2024 (137.15 days), suggesting a positive adjustment in inventory control measures.

Overall, the analysis of Ligand Pharmaceuticals Incorporated's DOH indicates fluctuations in inventory management practices over the analyzed period, with potential adjustments made to optimize inventory levels and improve operational efficiency.