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 premium vs SWKS $285.60 current versus $147.32 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 SWKS'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
Premium justified
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: LGND FY 2025 (ended Dec 31, 2025) · SWKS FY 2025 (ended Oct 3, 2025). Fiscal years are not aligned.
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 92% equity / 8% debt · EV / Revenue 2.63x · EV / EBITDA 10.32x
SWKS carries the larger enterprise value at $10.76B against $5.33B; SWKS trades on the lower EV / Revenue multiple (2.63x vs 19.90x); SWKS on the lower EV / EBITDA (10.32x vs 33.28x).
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.
SKYWORKS SOLUTIONS, 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
0.17x
Net debt / EBITDA
Leverage against operating earnings
-2.24x
-0.36x
Cash and equivalents
Liquid reserves on the balance sheet
$733.52M
$1.37B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
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$374.08M
$995.80M
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
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 maintain its very high margins, then hold or add selectively; otherwise, the 52.1x P/E, 23.9x P/S, and -61.0% model downside argue for reducing exposure because the current price is far above both SWKS-implied and DCF-based fair value.
LGND trades at a steep premium to SWKS on every major valuation multiple, yet the model implies a $124.51 value versus the current $319.55 price, or -61.0% downside. The gap is driven by LGND's much richer P/S and EV-based multiples rather than a matching scale advantage.
Supporting Metrics