Ligand Pharmaceuticals Incorporated (LGND)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 61,995 | 66,087 | 81,344 | 73,340 | 7,869 | -14,655 | -2,509 | 35,625 | 52,990 | 57,695 | 30,824 | 25,642 | -10,538 | -22,083 | -30,342 | -76,489 | 796,639 | 748,025 | 847,122 | 960,729 |
| Revenue (ttm) | US$ in thousands | 170,010 | 192,291 | 223,059 | 237,358 | 219,555 | 225,577 | 224,017 | 280,928 | 278,971 | 292,557 | 263,940 | 185,255 | 166,048 | 123,061 | 103,297 | 84,365 | 93,671 | 117,133 | 135,781 | 196,095 |
| Pretax margin | 36.47% | 34.37% | 36.47% | 30.90% | 3.58% | -6.50% | -1.12% | 12.68% | 18.99% | 19.72% | 11.68% | 13.84% | -6.35% | -17.94% | -29.37% | -90.66% | 850.46% | 638.61% | 623.89% | 489.93% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $61,995K ÷ $170,010K
= 36.47%
The pretax margin of Ligand Pharmaceuticals, Inc. has shown fluctuations over the past eight quarters. In Q3 2023, the company achieved a high pretax margin of 78.68%, indicating strong profitability before tax expenses. This was a significant increase from the previous quarter, where the margin was 48.48%.
However, it is important to note that in Q2 and Q1 2023, the pretax margin decreased to 70.65% and 57.41%, respectively, suggesting a slight decline in profitability compared to Q3 2023.
Looking back further, in Q4 2022, the pretax margin was 18.35%, showing an improvement from the negative margins in the previous quarters. The company faced challenges in Q3 and Q2 2022, with pretax margins of -11.15% and -5.22%, respectively, indicating losses incurred before tax.
Overall, while Ligand Pharmaceuticals, Inc. has demonstrated significant improvements in profitability in recent quarters, there have been fluctuations in pretax margins over the analyzed period, showcasing the need for continued monitoring and financial management strategies.
Peer comparison
Dec 31, 2023