Ligand Pharmaceuticals Incorporated (LGND)

Fixed asset turnover

		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
Revenue (ttm)	US$ in thousands	167,133	152,422	133,478	118,313	131,314	153,595	186,815	217,868	219,582	241,673	240,420	267,676	277,133	274,650	251,663	208,408	186,419	143,432	126,392	109,959
Property, plant and equipment	US$ in thousands	—	—	—	—	—	—	11,382	11,743	27,491	33,418	30,954	24,584	32,749	18,702	23,883	16,896	14,434	7,157	7,883	6,690
Fixed asset turnover		—	—	—	—	—	—	16.41	18.55	7.99	7.23	7.77	10.89	8.46	14.69	10.54	12.33	12.92	20.04	16.03	16.44

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $167,133K ÷ $—K
= —

The fixed asset turnover ratio for Ligand Pharmaceuticals Incorporated has fluctuated over the past few years, indicating varying levels of efficiency in generating revenue from its fixed assets. The ratio reached a peak of 20.04 in September 2020, suggesting that the company was able to generate $20.04 in revenue for every dollar invested in fixed assets during that period.

However, the ratio has since experienced a declining trend, falling to 7.77 in June 2022. This decline may indicate that Ligand Pharmaceuticals is becoming less efficient in utilizing its fixed assets to generate sales.

The ratio saw a significant increase to 18.55 in March 2023, signaling a potential improvement in the company's ability to generate revenue from its fixed assets. The ratio remained relatively high in the following periods, indicating sustained efficiency in utilizing fixed assets to drive revenue.

It is important for Ligand Pharmaceuticals to monitor this ratio closely to ensure optimal utilization of its fixed assets and maintain or improve operational efficiency. Further analysis and comparison with industry benchmarks can provide additional insights into the company's performance in this area.