Ligand Pharmaceuticals Incorporated
$5.33B- Market cap
- $5.69B
- Debt
- +$374.08M
- Cash
- −$733.52M
Capital structure 94% equity / 6% debt · EV / Revenue 19.90x · EV / EBITDA 33.28x
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 discount vs CDNS $285.60 current versus $441.93 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 CDNS's multiple
Implied fair value · at LGND's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple premium
Value edge
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: LGND FY 2025 (ended Dec 31, 2025) · CDNS FY 2025 (ended Dec 31, 2025).
Trendline
Five 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 19.90x · EV / EBITDA 33.28x
Capital structure 96% equity / 4% debt · EV / Revenue 15.24x · EV / EBITDA 42.43x
CDNS carries the larger enterprise value at $80.70B against $5.33B; CDNS trades on the lower EV / Revenue multiple (15.24x vs 19.90x); LGND on the lower EV / EBITDA (33.28x vs 42.43x).
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.
CADENCE DESIGN SYSTEMS, 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
0.57x
Net debt / EBITDA
Leverage against operating earnings
-2.24x
-0.02x
Cash and equivalents
Liquid reserves on the balance sheet
$733.52M
$3.16B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
Royalty Pharma plc
LGND vs RPRX
Sarepta Therapeutics, Inc.
LGND vs SRPT
INCYTE CORP
LGND vs INCY
EXELIXIS, INC.
LGND vs EXEL
SYNOPSYS INC
LGND vs SNPS
ANSYS INC
LGND vs ANSS
TERADYNE, INC
LGND vs TER
INTEL CORP
LGND vs INTC
NVIDIA CORP
LGND vs NVDA
ADVANCED MICRO DEVICES INC
LGND vs AMD
$374.08M
$3.12B
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
The deterministic comparison remains available. Sign in when you want an on-demand narrative synthesis of the same data.