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 WTW $285.64 current versus $126.21 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 WTW'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) · WTW 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 75% equity / 25% debt · EV / Revenue 3.93x · EV / EBITDA 12.94x
WTW carries the larger enterprise value at $38.17B against $5.33B; WTW trades on the lower EV / Revenue multiple (3.93x vs 19.90x); WTW on the lower EV / EBITDA (12.94x vs 33.29x).
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.
WILLIS TOWERS WATSON PLC · implied price per share
Five annual free-cash-flow observations are required for 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
1.28x
Net debt / EBITDA
Leverage against operating earnings
-2.24x
2.40x
Cash and equivalents
Liquid reserves on the balance sheet
$733.52M
$3.16B
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
$10.24B
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 defend its premium margin structure, then the stock may deserve a quality premium; otherwise, the data argues for caution or profit-taking because the current price of $319.55 is far above both the DCF range and WTW-implied range.
LGND trades at a steep premium to WTW across P/E, P/S, EV/EBITDA, and EV/Revenue, yet the valuation output implies a price far below the current quote. The gap is driven by LGND's much higher revenue growth and margin profile, but not enough to justify the current multiple gap versus WTW.
Supporting Metrics