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 33.29x
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 JAZZ $285.64 current versus $50.49 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 JAZZ'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
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: LGND FY 2025 (ended Dec 31, 2025) · JAZZ 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 33.29x
Capital structure 71% equity / 29% debt · EV / Revenue 4.93x · EV / EBITDA 66.47x
JAZZ carries the larger enterprise value at $21.02B against $5.33B; JAZZ trades on the lower EV / Revenue multiple (4.93x vs 19.90x); LGND on the lower EV / EBITDA (33.29x vs 66.47x).
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.
Jazz Pharmaceuticals plc · 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
1.48x
Net debt / EBITDA
Leverage against operating earnings
-2.24x
15.80x
Cash and equivalents
Liquid reserves on the balance sheet
$733.52M
$1.39B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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$374.08M
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