Ligand Pharmaceuticals Incorporated (LGND)

Current ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total current assets	US$ in thousands	237,429	253,994	276,711	328,195	263,601	220,432	243,784	276,066	464,751	432,082	410,901	437,428	500,559	857,741	863,624	830,727	1,123,640	1,183,100	1,442,310	1,567,900
Total current liabilities	US$ in thousands	16,782	15,727	29,388	98,929	98,810	135,241	167,853	42,578	41,665	36,297	52,497	95,805	100,111	42,300	29,264	20,438	17,002	35,695	108,985	186,777
Current ratio		14.15	16.15	9.42	3.32	2.67	1.63	1.45	6.48	11.15	11.90	7.83	4.57	5.00	20.28	29.51	40.65	66.09	33.14	13.23	8.39

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $237,429K ÷ $16,782K
= 14.15

The current ratio of Ligand Pharmaceuticals, Inc. has exhibited significant fluctuations over the past eight quarters. The company's current ratio reached a peak of 16.15 in Q3 2023, indicating a strong ability to cover its short-term liabilities with current assets. This was a substantial increase from the previous quarter, Q2 2023, which had a current ratio of 9.42.

Prior to this improvement, the current ratio fluctuated notably, with Q1 2023 showing a ratio of 3.32, suggesting a lower liquidity position compared to the previous quarter. Additionally, Q4 2022 and Q3 2022 had current ratios of 2.67 and 1.63, respectively, showing a gradual increase in liquidity.

The company's current ratio experienced a sharp decline in Q2 2022 with a ratio of 1.45, reflecting a potential liquidity strain during that period. However, this was followed by a significant improvement in Q1 2022, where the current ratio spiked to 6.48, indicating a more favorable liquidity position.

Overall, the varying current ratios highlight the fluctuating liquidity position of Ligand Pharmaceuticals, Inc. over the specified quarters, with some periods indicating better ability to meet short-term obligations compared to others.