Ligand Pharmaceuticals Incorporated
$5.40B- Market cap
- $5.76B
- Debt
- +$374.08M
- Cash
- −$733.52M
Capital structure 94% equity / 6% debt · EV / Revenue 20.14x · EV / EBITDA 33.68x
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 IART $288.83 current versus $10.40 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at IART's multiple
Implied fair value · at LGND's multiple
Snapshot Sep 8, 2026, 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
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: LGND FY 2025 (ended Dec 31, 2025) · IART FY 2025 (ended Dec 31, 2025).
Trendline
Nine period-end years of reported revenue, earnings, and margins. Periods and currencies are shown with the data.
Price framework
Market cap plus debt, less cash.
Capital structure 94% equity / 6% debt · EV / Revenue 20.14x · EV / EBITDA 33.68x
Capital structure 64% equity / 36% debt · EV / Revenue 1.06x
LGND carries the larger enterprise value at $5.40B against $1.73B; IART trades on the lower EV / Revenue multiple (1.06x vs 20.14x).
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.
INTEGRA LIFESCIENCES HOLDINGS CORP · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
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
0.70x
Net debt / EBITDA
Leverage against operating earnings
-2.24x
-0.92x
Cash and equivalents
Liquid reserves on the balance sheet
$733.52M
$263.74M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
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