Ligand Pharmaceuticals Incorporated (LGND)

Financial leverage 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
Total assets	US$ in thousands	941,774	954,866	866,405	913,869	833,064	769,210	758,105	811,076	762,668	1,051	1,076,290	1,105,180	1,301,380	1,273,660	1,256,280	1,295,120	1,362,280	1,247,450	1,242,940	1,185,920
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
Financial leverage ratio		1.13	1.14	1.12	1.13	1.19	1.16	1.14	1.25	1.28	1.29	1.34	1.39	1.58	1.57	1.60	1.74	1.92	1.79	1.79	1.79

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $941,774K ÷ $830,439K
= 1.13

The financial leverage ratio of Ligand Pharmaceuticals Incorporated has been gradually decreasing over the past few years, indicating a decreasing reliance on debt financing to fund its operations. The ratio stood at 1.79 as of March 31, 2020, and declined to 1.13 by December 31, 2024. This downward trend suggests that the company has been effectively managing its debt levels and potentially reducing financial risk. A lower financial leverage ratio generally indicates a healthier financial position and lower vulnerability to economic downturns or interest rate fluctuations. Overall, the decreasing trend in Ligand Pharmaceuticals' financial leverage ratio reflects a prudent approach to capital structure management.