Ligand Pharmaceuticals Incorporated
$5.36B- Market cap
- $5.72B
- Debt
- +$374.08M
- Cash
- −$733.52M
Capital structure 94% equity / 6% debt · EV / Revenue 19.98x · EV / EBITDA 33.42x
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 NYT $286.74 current versus $197.54 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 NYT's multiple
Implied fair value · at LGND's multiple
Snapshot Sep 8, 2026, 2:33 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) · NYT 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 19.98x · EV / EBITDA 33.42x
Capital structure 95% equity / 5% debt · EV / Revenue 3.82x · EV / EBITDA 19.48x
NYT carries the larger enterprise value at $10.79B against $5.36B; NYT trades on the lower EV / Revenue multiple (3.82x vs 19.98x); NYT on the lower EV / EBITDA (19.48x vs 33.42x).
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.
THE NEW YORK TIMES COMPANY · 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
0.26x
Net debt / EBITDA
Leverage against operating earnings
-2.24x
-0.22x
Cash and equivalents
Liquid reserves on the balance sheet
$733.52M
$642.16M
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.
$374.08M
$520.69M
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 60.4% revenue growth and preserve its 97.6% gross margin, then hold or add selectively because the business quality is strong, but the current price already embeds a substantial premium versus NYT-implied and DCF ranges.
LGND’s current price of $319.55 is 32.2% above the $216.60 implied price from the P/E comparison, indicating a meaningful valuation premium. The premium is harder to justify because LGND is already above the top end of NYT-implied range and far above the DCF range.
Supporting Metrics