Ligand Pharmaceuticals Incorporated
$5.38B- Market cap
- $5.74B
- Debt
- +$374.08M
- Cash
- −$733.52M
Capital structure 94% equity / 6% debt · EV / Revenue 20.06x · EV / EBITDA 33.56x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: LGND stock price at premium vs BURL $287.82 current versus $163.70 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at BURL's multiple
Implied fair value · at LGND's multiple
Snapshot Sep 8, 2026, 3:14 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple premium
Premium justified
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: LGND FY 2025 (ended Dec 31, 2025) · BURL FY 2026 (ended Jan 31, 2026). Fiscal years are not aligned.
Trendline
Six fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 94% equity / 6% debt · EV / Revenue 20.06x · EV / EBITDA 33.56x
Capital structure 88% equity / 12% debt · EV / Revenue 1.45x · EV / EBITDA 13.21x
BURL carries the larger enterprise value at $16.80B against $5.38B; BURL trades on the lower EV / Revenue multiple (1.45x vs 20.06x); BURL on the lower EV / EBITDA (13.21x vs 33.56x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
LIGAND PHARMACEUTICALS INCORPORATED · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
BURLINGTON STORES, INC. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
0.37x
1.15x
Net debt / EBITDA
Leverage against operating earnings
-2.24x
0.67x
Cash and equivalents
Liquid reserves on the balance sheet
$733.52M
$1.23B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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$374.08M
$2.08B
LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe LGND can sustain its 60.4% revenue growth and exceptionally high margins long enough to justify a 52.1x P/E and 23.9x P/S, then hold or consider adding; otherwise, the valuation gap versus BURL and the DCF-implied downside suggest reducing exposure because the current price embeds optimistic assumptions.
LGND trades at a premium to BURL on P/E, P/S, EV/EBITDA, and EV/Revenue despite the implied price being 36.8% below the current price. The gap appears driven more by the model’s multiple compression and BURL anchor than by a fundamental deterioration in LGND.
Supporting Metrics