Flagship explainer

What drives LIGAND PHARMACEUTICALS INC’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity13%Tax burden78%net income ÷ pretax incomeInterest burden388%pretax ÷ operating incomeOperating margin15%operating income ÷ revenueAsset turnover0.21×revenue ÷ average assetsEquity multiplier1.35×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$124MFY2025
Income before tax$159MFY2025
Operating income$41MFY2025
$268MFY2025
Ending assets$1.6BFY2025
Beginning assets$942MFY2024
$1.0BFY2025
$830MFY2024
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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