Filing Flows › Ligand Pharmaceuticals (LGND) › Operating margin
Ligand Pharmaceuticals (LGND) operating margin by quarter
Ligand Pharmaceuticals' operating margin was 13.5% in Q2 2026 (second quarter 2026), -9.7 pts from Q4 2025. Over the last 4 quarters it ranged from 13.5% (Q2 2026) to 48.0% (Q3 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q2 2026 | 13.5% | -9.7 pts | -4.2 pts |
| Q4 2025 | 23.2% | -24.8 pts | — |
| Q3 2025 | 48.0% | +30.2 pts | — |
| Q2 2025 | 17.7% | — | — |
Q2 2026 at a glance
Ligand Pharmaceuticals, Q2 2026: revenue $63.7M (+34% year over year), operating margin 13.5%, net earnings $48.5M, operating cash flow $24.0M. The chart follows the revenue to costs, profit and cash.
Questions
What is Ligand Pharmaceuticals' operating margin?
Ligand Pharmaceuticals' operating margin was 13.5% in Q2 2026 (second quarter 2026), -9.7 pts from Q4 2025.
How has Ligand Pharmaceuticals' operating margin changed?
Over the last 4 quarters it ranged from 13.5% (Q2 2026) to 48.0% (Q3 2025).
Q2 2026 results → · How Ligand Pharmaceuticals makes money →