Ligand Pharmaceuticals Incorporated
—Price / book
Market cap
—
Tangible equity
$690.23M
Price / tangible book
—
Price / book
—
Return on equity
12.2%
Return on assets
8.0%
Efficiency ratio
—
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt capMarket cap $856.52B
Decision snapshot: LGND stock price vs JPM: inconclusive — current versus $98.66 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 JPM's multiple
Implied fair value · at LGND's multiple
Needs LGND P/E.
Live quote
As of 2025-12-31
Metric by metric
Filter, sort, and scan the equity metrics that matter most for banks: book value, tangible book, returns, and operating efficiency.
Lower is better
Lower is better
Profitability lag
Asset efficiency edge
Lower is better
Statements
Bank-focused income statement and equity metrics aligned to the reporting windows.
SEC periods: LGND FY 2025 (ended Dec 31, 2025) · JPM FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Tangible book and profitability anchor a bank, not enterprise value.
Deposits and cash-like balances distort enterprise value for banks, so this section reads equity value, tangible book and profitability instead.
Price / book
Market cap
—
Tangible equity
$690.23M
Price / tangible book
—
Price / book
—
Return on equity
12.2%
Return on assets
8.0%
Efficiency ratio
—
Price / tangible book
Market cap
$856.52B
Tangible equity
$306.21B
Price / tangible book
2.80x
Price / book
2.36x
Return on equity
15.7%
Return on assets
1.3%
Efficiency ratio
142.8%
Price framework
Discounted free cash flow, then bridged to a per-share price. Same assumptions applied to both companies.
LIGAND PHARMACEUTICALS INCORPORATED · implied price per share
Bear
$101.45
Base
$119.35
Bull
$137.25
JPMORGAN CHASE & CO · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
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.
Not enough data to score either balance sheet.
Debt / equity
Total debt against shareholders' equity
0.25x
0.92x
Net debt / EBITDA
Leverage against operating earnings
-2.31x
-0.59x
Cash and equivalents
Liquid reserves on the balance sheet
$733.52M
$481.02B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider banking comparable set.
Keep comparing
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US BANCORP \DE\
LGND vs USB
$252.03M
$332.67B
Live quote
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
Based on an earlier data snapshot. Review the filing dates below or refresh after signing in.
If you believe LGND can sustain 60.4% revenue growth and defend its premium 52.1x P/E, then hold or buy despite the model-implied downside; otherwise, the data favors reducing exposure because the current price sits well above the $98.66 implied P/E value and above the top of the DCF range.
LGND trades at a very large premium to JPM on the supplied relative valuation framework, with an implied downside of 69.1% to $98.66 versus a current price of $319.55. The gap is driven by LGND’s much higher P/E and P/S multiples, even though its historical band still sits below the current price.
Supporting Metrics