Ligand Pharmaceuticals Incorporated (LGND)
Working capital 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 |
Total current assets | US$ in thousands | 331,559 | 309,388 | 312,259 | 368,913 | 237,429 | 257,761 | 276,711 | 328,195 | 263,601 | 220 | 243,784 | 276,066 | 464,751 | 432,082 | 410,901 | 437,428 | 500,559 | 857,741 | 863,624 | 830,727 |
Total current liabilities | US$ in thousands | 37,112 | 24,772 | 18,565 | 17,818 | 16,782 | 18,866 | 29,388 | 98,929 | 98,810 | 135 | 167,853 | 42,578 | 41,665 | 36,297 | 52,497 | 95,805 | 100,111 | 42,300 | 31,370 | 20,438 |
Working capital turnover | 0.57 | 0.54 | 0.45 | 0.34 | 0.60 | 0.64 | 0.76 | 0.95 | 1.33 | 2,843.21 | 3.17 | 1.15 | 0.66 | 0.69 | 0.70 | 0.61 | 0.47 | 0.18 | 0.15 | 0.14 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $167,133K ÷ ($331,559K – $37,112K)
= 0.57
Ligand Pharmaceuticals Incorporated's working capital turnover ratio has shown variability over the periods provided. Initially, from March 31, 2020, to June 30, 2021, the ratio gradually increased from 0.14 to 0.70, indicating a more efficient management of working capital during this time. However, a significant spike was observed on September 30, 2022, when the ratio unexpectedly surged to 2,843.21, suggesting a potential anomaly or irregularity in the financial data.
Subsequently, the working capital turnover ratio declined sharply, dropping to 0.34 by March 31, 2024. This downward trend continued until December 31, 2024, where the ratio slightly rebounded to 0.57. The decreasing trend in the ratio post-September 2022 may indicate challenges in managing working capital efficiently, potentially leading to liquidity issues or ineffective asset utilization.
Overall, fluctuations in Ligand Pharmaceuticals' working capital turnover ratio reflect changes in the company's working capital management practices and efficiency. It is essential for the company to closely monitor its working capital turnover ratio to ensure optimal utilization of resources and maintain financial stability in the long run.
Peer comparison
Dec 31, 2024