Comprehensive Stock Comparison
Compare CDT Equity Inc. (CDT) vs Ligand Pharmaceuticals Incorporated (LGND) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Stability / Safety |  CDT | Beta 0.34 vs LGND's 0.82 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) |  LGND | +75.3% vs CDT's -99.6% |
| Efficiency (ROA) | LGND | 3.3% ROA vs CDT's -237.4% |
Who Each Stock Is For
Income & stability
CDTbeta 0.34
Growth exposure
LGNDRev growth 27.3%, EPS growth -107.5%, 3Y rev CAGR -11.6%
Long-term compounding (10Y)
LGND102.2% 10Y total return vs CDT's -100.0%
Sleep-well-at-night portfolio
CDTLower volatility, beta 0.34, current ratio 0.25x
Defensive / Recession hedge
CDTBeta 0.34, current ratio 0.25x
Business Model
What each company does and how it makes money
CDT Equity is a healthcare company that facilitates the development and commercialization of clinical-stage medical assets. It generates revenue through licensing agreements, milestone payments, and equity stakes in the biotech companies it partners with — typically taking a share of future commercial success. Its key advantage lies in its founders' deep pharmaceutical industry expertise and strategic approach to identifying promising clinical assets with commercial potential.
Ligand Pharmaceuticals is a biopharmaceutical company that develops and acquires drug discovery technologies and royalty-bearing assets for pharmaceutical partners. It generates revenue primarily through royalties from partnered drug sales — including blockbusters like Kyprolis and Veklury — supplemented by milestone payments and contract research services. Its key competitive advantage lies in its diversified portfolio of royalty streams and its Captisol drug formulation technology, which creates multiple revenue sources from single platform innovations.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
LGND 4CDT 0LGND1/1 metricsLGND1/1 metricsLGND6/6 metricsLGND6/6 metricsLGND leads in 4 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 1 category is tied.
Financial Metrics (TTM)
LGND and CDT operate at a comparable scale, with $251M and $0 in trailing revenue.
| Metric | CDTCDT Equity Inc. | LGNDLigand Pharmaceut… |
|---|---|---|
| RevenueTrailing 12 months | $0 | $251M |
| EBITDAEarnings before interest/tax | -$17M | $52M |
| Net IncomeAfter-tax profit | -$20M | $49M |
| Free Cash FlowCash after capex | $34M | $31M |
| Gross MarginGross profit ÷ Revenue | — | +85.9% |
| Operating MarginEBIT ÷ Revenue | — | +7.0% |
| Net MarginNet income ÷ Revenue | — | +19.3% |
| FCF MarginFCF ÷ Revenue | — | +12.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | +122.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +2.1% | +15.6% |
Valuation Metrics
| Metric | CDTCDT Equity Inc. | LGNDLigand Pharmaceut… |
|---|---|---|
| Market CapShares × price | $30M | $4.0B |
| Enterprise ValueMkt cap + debt − cash | $37M | $3.9B |
| Trailing P/EPrice ÷ TTM EPS | -0.03x | -918.58x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 23.80x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 309.27x |
| Price / SalesMarket cap ÷ Revenue | — | 23.77x |
| Price / BookPrice ÷ Book value/share | — | 4.45x |
| Price / FCFMarket cap ÷ FCF | — | 51.32x |
Profitability & Efficiency
LGND delivers a 5.1% return on equity — every $100 of shareholder capital generates $5 in annual profit, vs $-5 for CDT. On the Piotroski fundamental quality scale (0–9), LGND scores 5/9 vs CDT's 1/9, reflecting solid financial health.
| Metric | CDTCDT Equity Inc. | LGNDLigand Pharmaceut… |
|---|---|---|
| ROE (TTM)Return on equity | -4.7% | +5.1% |
| ROA (TTM)Return on assets | -2.4% | +3.3% |
| ROICReturn on invested capital | — | -2.3% |
| ROCEReturn on capital employed | — | -2.7% |
| Piotroski ScoreFundamental quality 0–9 | 1 | 5 |
| Debt / EquityFinancial leverage | — | 0.01x |
| Net DebtTotal debt minus cash | $7M | -$65M |
| Cash & Equiv.Liquid assets | $554,000 | $72M |
| Total DebtShort + long-term debt | $7M | $7M |
| Interest CoverageEBIT ÷ Interest expense | -15.44x | 22.69x |
Total Returns (with DRIP)
A $10,000 investment in LGND five years ago would be worth $14,261 today (with dividends reinvested), compared to $0 for CDT. Over the past 12 months, LGND leads with a +75.3% total return vs CDT's -99.6%. The 3-year compound annual growth rate (CAGR) favors LGND at 41.4% vs CDT's -98.3% — a key indicator of consistent wealth creation.
| Metric | CDTCDT Equity Inc. | LGNDLigand Pharmaceut… |
|---|---|---|
| YTD ReturnYear-to-date | -58.4% | +6.3% |
| 1-Year ReturnPast 12 months | -99.6% | +75.3% |
| 3-Year ReturnCumulative with dividends | -100.0% | +182.6% |
| 5-Year ReturnCumulative with dividends | -100.0% | +42.6% |
| 10-Year ReturnCumulative with dividends | -100.0% | +102.2% |
| CAGR (3Y)Annualised 3-year return | -98.3% | +41.4% |
Risk & Volatility
CDT is the less volatile stock with a 0.34 beta — it tends to amplify market swings less than LGND's 0.82 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. LGND currently trades 95.1% from its 52-week high vs CDT's 0.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CDTCDT Equity Inc. | LGNDLigand Pharmaceut… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.34x | 0.82x |
| 52-Week HighHighest price in past year | $168.00 | $212.49 |
| 52-Week LowLowest price in past year | $0.58 | $93.58 |
| % of 52W HighCurrent price vs 52-week peak | +0.4% | +95.1% |
| RSI (14)Momentum oscillator 0–100 | 29.2 | 58.9 |
| Avg Volume (50D)Average daily shares traded | 551K | 172K |
Analyst Outlook
| Metric | CDTCDT Equity Inc. | LGNDLigand Pharmaceut… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy |
| Price TargetConsensus 12-month target | — | $248.00 |
| # AnalystsCovering analysts | — | 16 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 1 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 22 | Mar 26 | Change |
|---|---|---|---|
| CDT Equity Inc. (CDT) | 100 | 0 | -100.0% |
| Ligand Pharmaceutic… (LGND) | 100 | 172.64 | +72.6% |
Ligand Pharmaceutic… (LGND) returned +43% over 5 years vs CDT Equity Inc. (CDT)'s -100%. A $10,000 investment in LGND 5 years ago would be worth $14,261 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| CDT Equity Inc. (CDT) | $0.00 | $0.00 | — |
| Ligand Pharmaceutic… (LGND) | $72M | $167M | +132.4% |
Ligand Pharmaceuticals Incorporated's revenue grew from $72M (2015) to $167M (2024) — a 9.8% CAGR.
Chart 3P/E Ratio History — 5 Years
| Stock | 2017 | 2023 | Change |
|---|---|---|---|
| Ligand Pharmaceutic… (LGND) | 258.4 | 24.3 | -90.6% |
Ligand Pharmaceuticals Incorporated has traded in a 3x–258x P/E range over 5 years; current trailing P/E is ~-919x.
Chart 4EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| CDT Equity Inc. (CDT) | -1.01 | -20.53 | -1932.7% |
| Ligand Pharmaceutic… (LGND) | 12.12 | -0.22 | -101.8% |
Ligand Pharmaceuticals Incorporated's EPS grew from $12.12 (2015) to $-0.22 (2024) — a NaN% CAGR.
Chart 5Free Cash Flow — 5 Years
CDT Equity Inc. generated $-10M FCF in 2024 (-352% vs 2021). Ligand Pharmaceuticals Incorporated generated $77M FCF in 2024 (+11% vs 2021).
CDT vs LGND: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is CDT or LGND a better buy right now?
Analysts rate Ligand Pharmaceuticals Incorporated (LGND) a "Buy" — based on 16 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — CDT or LGND?
Over the past 5 years, Ligand Pharmaceuticals Incorporated (LGND) delivered a total return of +42.6%, compared to -100.0% for CDT Equity Inc. (CDT). A $10,000 investment in LGND five years ago would be worth approximately $14K today (assuming dividends reinvested). Over 10 years, the gap is even starker: LGND returned +102.2% versus CDT's -100.0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — CDT or LGND?
By beta (market sensitivity over 5 years), CDT Equity Inc. (CDT) is the lower-risk stock at 0.34β versus Ligand Pharmaceuticals Incorporated's 0.82β — meaning LGND is approximately 139% more volatile than CDT relative to the S&P 500.
04Which has better profit margins — CDT or LGND?
CDT Equity Inc. (CDT) is the more profitable company, earning 0.0% net margin versus -2.4% for Ligand Pharmaceuticals Incorporated — meaning it keeps 0.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CDT leads at 0.0% versus -13.5% for LGND. At the gross margin level — before operating expenses — LGND leads at 93.4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — CDT or LGND?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is CDT or LGND better for a retirement portfolio?
For long-horizon retirement investors, CDT Equity Inc. (CDT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.34)). Both have compounded well over 10 years (CDT: -100.0%, LGND: +102.2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between CDT and LGND?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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