Ligand Pharmaceuticals Incorporated (LGND)

Debt-to-assets 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
Long-term debt	US$ in thousands	—	—	—	—	0	0	0	176,540	320,717	316,889	315,318	352,313	442,293	454,973	449,672	444,432	638,959	631,533	624,209	616,987
Total assets	US$ in thousands	787,216	769,226	758,105	811,076	762,668	1,050,600	1,076,290	1,105,180	1,297,590	1,273,660	1,256,280	1,295,120	1,362,280	1,247,450	1,242,940	1,185,920	1,494,920	1,547,480	1,801,840	1,913,990
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.16	0.25	0.25	0.25	0.27	0.32	0.36	0.36	0.37	0.43	0.41	0.35	0.32

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $787,216K
= 0.00

The debt-to-assets ratio of Ligand Pharmaceuticals, Inc. has been consistently low in the recent quarters, with values ranging from 0.00 to 0.16. This ratio indicates the proportion of the company's total debt relative to its total assets. A lower ratio typically suggests lower financial risk as the company relies less on debt financing. The sudden increase in Q1 2023 to 0.09 followed by a slight decrease in subsequent quarters may indicate a temporary increase in debt relative to assets during that period. Overall, the trend suggests that Ligand Pharmaceuticals, Inc. maintains a strong financial position with minimal reliance on debt for funding its operations and investments.