Ligand Pharmaceuticals vs Roivant Sciences
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KIRAβs take AI analyst
I put Ligand Pharmaceuticals and Roivant Sciences side by side, using each oneβs latest annual report. Here is what stands out:
- Ligand Pharmaceuticals is the larger business, with $268M of revenue in fiscal 2025 against $8.3M for Roivant Sciences, about 32 times as much.
- Ligand Pharmaceuticals grew revenue faster (60.4%, against β71.6%).
- Ligand Pharmaceuticals kept more of each dollar of sales as operating profit (15.3% operating margin, against β6,235.7%).
- Ligand Pharmaceuticals turned more of its sales into free cash flow (18.2% FCF margin, against β9,183.5%).
- Ligand Pharmaceuticals earned a higher return on the capital invested in it (4.9%, against β62.6%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Ligand Pharmaceuticals
LGND
8/9
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-score
Roivant Sciences
ROIV
1/9
Share count change
Side by side
Best in the row
| Latest fiscal year | LGND FY25 | ROIV FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.6B | $26.3B |
| Revenue | $268M | $8.3M |
| Free cash flow | $48.9M | β$759M |
| Net income | $125M | β$300M |
| Growth | ||
| Revenue growth | 60.4% | β71.6% |
| 5-year growth | 10.4% | β19.0% |
| Share count change | 11.0% | β4.4% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | 15.3% | β6,235.7% |
| Net margin | 46.4% | β3,629.2% |
| FCF margin | 18.2% | β9,183.5% |
| Return on capital | 4.9% | β62.6% |
| Return on equity | 13.5% | β6.5% |
| Balance sheet | ||
| Net debt | β$287M | β$4.3B |
| Net debt / EBITDA | β3.8x | β |
| Dividends and buybacks | $15.0M | $0.0M |
| Valuation & quality | ||
| P/E | 32.3x | β |
| Piotroski F-score | 5 | 1 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.