Ligand Pharmaceuticals Incorporated (LGND) P/E Ratio History
ExpensiveTrading at 122.7x vs 5Y avg 46.1x · 95th percentile · Material premium to history · Data 2007–2026
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P/E Ratio Analysis
As of November 13, 2026, Ligand Pharmaceuticals Incorporated (LGND) trades at a price-to-earnings ratio of 122.7x, with a stock price of $316.27 and trailing twelve-month earnings per share of $2.58.
The current P/E is 166% above its 5-year average of 46.1x. Over the past five years, LGND's P/E has ranged from a low of 3.6x to a high of 139.5x, placing the current valuation at the 95th percentile of its historical range.
Compared to the Healthcare sector median P/E of 25.4x, LGND trades at a 383% premium to its sector peers. The sector includes 245 companies with P/E ratios ranging from 0.0x to 187.4x.
Relative to the broader market, LGND commands a significant premium over the S&P 500 median P/E of 21.9x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our LGND DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
LGND Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
LGND P/E vs Peers
Drug Royalty Holders peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $1B | 7.1Lowest | 0.69 | +817%Best | |
| $5B | 18.1 | 0.46Best | -5% | |
| $31B | 57.2 | 8.10 | -6% | |
| $520B | 50.4 | - | -1% | |
| $164B | 41.1 | - | -4% | |
| $363B | 148.4 | 6.99 | +8% | |
| $252B | 27.2 | 9.23 | +88% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
LGND Historical P/E Data (2007–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q3 | Sep 30 2026 | $312.37 | $2.24 | 139.5x | -95% |
| FY2026 Q2 | - | $316.09 | $9.35 | 33.8x | -99% |
| FY2026 Q1 | - | $199.65 | $7.37 | 27.1x | -99% |
| FY2025 Q4 | Dec 31 2025 | $189.07 | $5.83 | 32.4x | -99% |
| FY2025 Q3 | - | $177.14 | $2.07 | 85.6x | -97% |
| FY2024 Q3 | Sep 30 2024 | $100.09 | $2.51 | 39.9x | -99% |
| FY2024 Q2 | Jun 30 2024 | $84.26 | $2.16 | 39.0x | -99% |
| FY2024 Q1 | Mar 31 2024 | $73.10 | $5.17 | 14.1x | -99% |
| FY2023 Q4 | Dec 31 2023 | $71.42 | $2.75 | 26.0x | -99% |
| FY2023 Q3 | Sep 30 2023 | $59.92 | $0.68 | 88.1x | -97% |
| FY2023 Q2 | Jun 30 2023 | $72.10 | $1.44 | 50.1x | -98% |
| FY2023 Q1 | Mar 31 2023 | $73.56 | $1.26 | 58.4x | -98% |
| FY2022 Q1 | - | $112.49 | $1.38 | 81.5x | -97% |
| FY2021 Q4 | Dec 31 2021 | $154.46 | $3.34 | 46.2x | -98% |
| FY2021 Q3 | - | $139.32 | $3.99 | 34.9x | -99% |
| FY2021 Q2 | Jun 30 2021 | $131.19 | $2.77 | 47.4x | -98% |
| FY2021 Q1 | Mar 31 2021 | $152.45 | $2.30 | 66.3x | -98% |
| FY2019 Q4 | - | $104.29 | $29.34 | 3.6x | -100% |
| FY2019 Q3 | Sep 30 2019 | $99.54 | $27.75 | 3.6x | -100% |
| FY2019 Q2 | Jun 30 2019 | $114.15 | $31.36 | 3.6x | -100% |
| FY2019 Q1 | Mar 31 2019 | $125.71 | $35.09 | 3.6x | -100% |
| FY2018 Q4 | Dec 31 2018 | $135.70 | $5.60 | 24.2x | -99% |
| FY2018 Q3 | Sep 30 2018 | $274.49 | $7.29 | 37.7x | -99% |
| FY2018 Q2 | Jun 30 2018 | $207.17 | $4.85 | 42.7x | -98% |
| FY2018 Q1 | Mar 31 2018 | $165.16 | $2.12 | 77.9x | -97% |
| FY2017 Q4 | Dec 31 2017 | $136.93 | $0.51 | 268.5x | -90% |
| FY2017 Q3 | Sep 30 2017 | $136.15 | $0.69 | 197.3x | -93% |
| FY2017 Q2 | Jun 30 2017 | $121.40 | $0.36 | 339.1x | -88% |
| FY2016 Q3 | Sep 30 2016 | $102.06 | $0.34 | 302.0x | -89% |
| FY2016 Q2 | - | $119.27 | $9.59 | 12.4x | -100% |
| FY2016 Q1 | - | $107.09 | $10.98 | 9.8x | -100% |
| FY2015 Q4 | - | $108.42 | $10.72 | 10.1x | -100% |
| FY2015 Q3 | Sep 30 2015 | $85.65 | $10.77 | 8.0x | -100% |
| FY2015 Q2 | - | $100.90 | $1.55 | 65.1x | -98% |
| FY2015 Q1 | - | $77.11 | $0.51 | 151.2x | -95% |
| FY2014 Q4 | Dec 31 2014 | $53.21 | $0.57 | 93.4x | -97% |
| FY2014 Q3 | - | $46.99 | $0.32 | 146.8x | -95% |
| FY2014 Q2 | Jun 30 2014 | $62.29 | $0.35 | 178.0x | -94% |
| FY2014 Q1 | Mar 31 2014 | $67.27 | $0.58 | 116.0x | -96% |
| FY2013 Q4 | - | $52.60 | $0.55 | 95.6x | -97% |
| FY2013 Q3 | Sep 30 2013 | $43.28 | $0.51 | 84.9x | -97% |
| FY2013 Q2 | Jun 30 2013 | $37.40 | $0.41 | 91.2x | -97% |
| FY2013 Q1 | Mar 31 2013 | $26.65 | $0.00 | 88833.3x | +3068% |
| FY2012 Q4 | Dec 31 2012 | $20.74 | $0.00 | 69133.3x | +2366% |
| FY2012 Q3 | Sep 30 2012 | $17.15 | $0.23 | 74.5x | -97% |
| FY2012 Q2 | Jun 30 2012 | $16.94 | $0.04 | 423.5x | -85% |
| FY2012 Q1 | Mar 31 2012 | $15.95 | $0.10 | 154.1x | -95% |
| FY2011 Q4 | Dec 31 2011 | $11.87 | $0.52 | 22.7x | -99% |
| FY2011 Q3 | Sep 30 2011 | $13.68 | $0.47 | 28.9x | -99% |
| FY2011 Q2 | - | $11.95 | $0.07 | 162.6x | -94% |
| FY2011 Q1 | - | $10.00 | $0.11 | 94.7x | -97% |
| FY2010 Q2 | Jun 30 2010 | $8.76 | $0.13 | 69.7x | -98% |
| FY2010 Q1 | Mar 31 2010 | $10.44 | $0.05 | 202.7x | -93% |
| FY2008 Q1 | Mar 31 2008 | $24.00 | $0.18 | 132.7x | -95% |
| FY2007 Q4 | Dec 31 2007 | $28.98 | $16.75 | 1.7x | -100% |
| FY2007 Q3 | Sep 30 2007 | $32.04 | $26.91 | 1.2x | -100% |
| FY2007 Q2 | Jun 30 2007 | $41.22 | $25.71 | 1.6x | -100% |
| FY2007 Q1 | Mar 31 2007 | $60.48 | $24.48 | 2.5x | -100% |
Average P/E for displayed period: 2803.7x
LGND Chart Terminal
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Intrinsic Valuation
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Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
LGND — Frequently Asked Questions
Quick answers to the most common questions about buying LGND stock.
What is LGND's P/E ratio?
Ligand Pharmaceuticals Incorporated (LGND) trailing twelve-month P/E ratio is 122.7x, based on TTM diluted EPS of $2.58. The 5-year average P/E is 46.1x and the historical range spans 3.6x to 139.5x.
Is LGND stock overvalued or undervalued?
LGND trades at 122.7x P/E, above its 5-year average of 46.1x. The 95th percentile ranking within the 3.6x–139.5x historical range indicates a premium to historical valuation.
Is LGND stock expensive?
Yes, LGND is expensive relative to its own history. The current P/E of 122.7x is above the 5-year average of 46.1x and also above the Healthcare sector median of 25.4x. The stock sits at the 95th percentile of its 5-year valuation range.
What is LGND's historical P/E range?
Over the past 5 years, LGND's P/E ratio has ranged from 3.6x to 139.5x, with a median of 39.9x and an average of 46.1x. The current P/E of 122.7x places the stock at the 95th percentile of this range. Full historical data spans 2007–2026.
How does LGND's P/E compare to the S&P 500?
LGND trades at 122.7x P/E versus the S&P 500 median of 21.9x. The 460% premium to the market typically reflects higher expected earnings growth or quality.
How does LGND's valuation compare to Healthcare peers?
Ligand Pharmaceuticals Incorporated P/E of 122.7x compares to the Healthcare sector median of 25.4x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is LGND's PEG ratio?
LGND PEG ratio is N/A, based on a P/E of 122.7x and EPS growth of 2886.4%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is LGND's earnings yield?
LGND earnings yield is 0.82%, the inverse of its 122.7x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.