Ligand Pharmaceuticals Incorporated (LGND)

Debt-to-equity ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	830,439	841,178	775,198	806,521	700,913	665,402	664,892	646,317	597,485	816	802,365	793,192	821,629	812,066	786,517	745,840	709,525	697,824	695,003	661,896
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $830,439K
= 0.00

The debt-to-equity ratio for Ligand Pharmaceuticals Incorporated over the provided periods is consistently reported as 0.00. This indicates that the company has either zero debt or a negligible amount in relation to its equity. A debt-to-equity ratio of 0.00 suggests that the company is primarily funded by equity rather than debt financing. From a financial risk perspective, a lower debt-to-equity ratio signifies lower financial leverage and less exposure to risks associated with debt repayment. It may also reflect positively on the company's creditworthiness and financial stability. However, it is important to consider that a very low debt-to-equity ratio may also indicate that the company is not utilizing debt to leverage its operations or take advantage of potential growth opportunities. Overall, the consistent 0.00 debt-to-equity ratio for Ligand Pharmaceuticals indicates a conservative financial structure with minimal reliance on debt financing.