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Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Ligand Pharmaceuticals's annualizedNet Income for the quarter that ended in Mar. 2026 was €-46.2 Mil. Ligand Pharmaceuticals's average total tangible assets for the quarter that ended in Mar. 2026 was €1,051.5 Mil. Therefore, Ligand Pharmaceuticals's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -4.39%.
The historical rank and industry rank for Ligand Pharmaceuticals's Return-on-Tangible-Asset or its related term are showing as below:
FRA:LGDN'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -6.01 Med: 6.14 Max: 60.16
Current: 16.23
During the past 13 years, Ligand Pharmaceuticals's highest Return-on-Tangible-Asset was 60.16%. The lowest was -6.01%. And the median was 6.14%.
FRA:LGDN's Return-on-Tangible-Asset is ranked better than 94% of 1417
companies
in the Biotechnology industry
Industry Median: -36.06
vs FRA:LGDN: 16.23
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Ligand Pharmaceuticals Return-on-Tangible-Asset Related Terms
Ligand Pharmaceuticals Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Ligand Pharmaceuticals's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:LGDN vs DFTX, CGON, XENE: Return-on-Tangible-Asset Comparison
For the Biotechnology subindustry, Ligand Pharmaceuticals's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ligand Pharmaceuticals Return-on-Tangible-Asset vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Ligand Pharmaceuticals's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Ligand Pharmaceuticals's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of -4.39% mean?
Ligand Pharmaceuticals (FRA:LGDN) has a Return-on-Tangible-Asset of -4.39% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Ligand Pharmaceuticals and its competitors. According to the industry distribution chart, Ligand Pharmaceuticals ranks #85 out of 1417 companies in the Biotechnology industry, placing it in the top 6%.
Is Ligand Pharmaceuticals' Return-on-Tangible-Asset too high?
Ligand Pharmaceuticals' current Return-on-Tangible-Asset is -4.39%. Based on the distribution chart, Ligand Pharmaceuticals ranks #85 out of 1417 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Ligand Pharmaceuticals has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ligand Pharmaceuticals' Return-on-Tangible-Asset compare to DFTX and CGON?
According to the Biotechnology industry distribution chart, Ligand Pharmaceuticals ranks #85 out of 1417 companies for Return-on-Tangible-Asset. This places Ligand Pharmaceuticals in the top 6% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Biotechnology company?
A good Return-on-Tangible-Asset depends on the Biotechnology industry context. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Ligand Pharmaceuticals and its competitors. Ligand Pharmaceuticals's current Return-on-Tangible-Asset is -4.39%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ligand Pharmaceuticals stock overvalued right now?
Based on GuruFocus' analysis, Ligand Pharmaceuticals (FRA:LGDN) is currently considered Significantly Overvalued. The stock's GF Value™ is €147.83, compared to a current price of €252.00 — trading 70.5% above its estimated fair value. The current Return-on-Tangible-Asset is -4.39%. Ligand Pharmaceuticals' overall GF Score™ is 78/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Ligand Pharmaceuticals (FRA:LGDN), the current Return-on-Tangible-Asset is -4.39% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ligand Pharmaceuticals (FRA:LGDN) Overvalued in 2026?
Based on GuruFocus' analysis, Ligand Pharmaceuticals stock appears to be overvalued.
The current stock price of €252.00 is trading 70.5% above its estimated GF Value™ of €147.83.
GuruFocus considers Ligand Pharmaceuticals to be Significantly Overvalued.
Key valuation signals for FRA:LGDN:
Return-on-Tangible-Asset: -4.39%
GF Value™: €147.83 vs. price of €252.00 (70.5% above fair value)
No single metric tells the full story. See the FRA:LGDN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ligand Pharmaceuticals Inc is a biopharmaceutical company focused on developing and acquiring technologies that aid in creating medicine. The company has partnerships and license agreements with various pharmaceutical and biotechnology companies. Ligand's business model is based on drug discovery, early-stage drug development, product reformulation, and partnerships. The company's revenue consists of three primary elements: royalties from commercialized products, license and milestone payments, and sale of its trademarked Captisol material.
78GF Score
Get the complete analysis for FRA:LGDN
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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