Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the operating margin high or low?
The operating margin of 17.61% is in line with its 5-year average of 18.22%, near the high end of its 5-year range (-79.89%–54.02%).
39.68% below its 12-month average of 29.19%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 13.49%.
OPERATING MARGIN
17.61%
OPERATING MARGIN AVG TTM
29.19%
OPERATING MARGIN AVG 3Y
6.92%
OPERATING MARGIN AVG 5Y
18.22%
OPERATING MARGIN AVG 10Y
21.11%
OPERATING MARGIN AVG 15Y
22.73%
OPERATING MARGIN AVG 20Y
7.17%
CURRENT VS TTM AVG
-39.68%
CURRENT VS 3Y AVG
+154.40%
CURRENT VS 5Y AVG
-3.34%
CURRENT VS 10Y AVG
-16.58%
CURRENT VS 15Y AVG
-22.52%
CURRENT VS 20Y AVG
+145.58%
SECTOR MEDIAN · HEALTHCARE
0.00%
median of 605 covered companies
CURRENT VS SECTOR MEDIAN
N/A
vs the sector median at left
Ligand Pharmaceuticals Incorporated
Market Cap
$5.95B
Operating Margin
17.61%
TTM Avg
29.19%
3Y Avg
6.92%
5Y Avg
18.22%
Market Cap
$5.84B
Operating Margin
-153.08%
TTM Avg
-197.00%
3Y Avg
-9782.25%
5Y Avg
-6521.50%
Market Cap
$5.70B
Operating Margin
-4722.13%
TTM Avg
-7394.69%
3Y Avg
-15105.91%
5Y Avg
-12109.07%
Market Cap
$5.65B
Operating Margin
11.92%
TTM Avg
0.31%
3Y Avg
-1.06%
5Y Avg
-68.44%
Market Cap
$6.06B
Operating Margin
-362.95%
TTM Avg
-1052.99%
3Y Avg
-3382.94%
5Y Avg
-3698.56%
Market Cap
$5.56B
Operating Margin
0.53%
TTM Avg
-2.93%
3Y Avg
-2.93%
5Y Avg
-2.93%
Market Cap
$6.40B
Operating Margin
12.93%
TTM Avg
11.47%
3Y Avg
6.80%
5Y Avg
6.51%
Market Cap
$6.53B
Operating Margin
19.43%
TTM Avg
24.98%
3Y Avg
20.49%
5Y Avg
11.07%
Market Cap
$6.57B
Operating Margin
4.50%
TTM Avg
4.35%
3Y Avg
-1.93%
5Y Avg
-10.04%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Ligand Pharmaceuticals Incorporated (LGND) | $5.95B | 17.61% | 29.19% | 6.92% | 18.22% |
| Iovance Biotherapeutics, Inc. (IOVA)vs › | $5.84B | -153.08% | -197.00% | -9782.25% | -6521.50% |
| CG Oncology Inc. (CGON)vs › | $5.70B | -4722.13% | -7394.69% | -15105.91% | -12109.07% |
| Kiniksa Pharmaceuticals International, plc (KNSA)vs › | $5.65B | 11.92% | 0.31% | -1.06% | -68.44% |
| GRAIL Inc. (GRAL)vs › | $6.06B | -362.95% | -1052.99% | -3382.94% | -3698.56% |
| MiniMed Group, Inc. Common Stock (MMED)vs › | $5.56B | 0.53% | -2.93% | -2.93% | -2.93% |
| Amneal Pharmaceuticals, Inc. (AMRX)vs › | $6.40B | 12.93% | 11.47% | 6.80% | 6.51% |
| Lantheus Holdings, Inc. (LNTH)vs › | $6.53B | 19.43% | 24.98% | 20.49% | 11.07% |
| Hims & Hers Health, Inc. (HIMS)vs › | $6.57B | 4.50% | 4.35% | -1.93% | -10.04% |
| Doximity, Inc. (DOCS)vs › | $5.36B | 29.60% | 36.63% | 34.40% | 32.73% |
Gross Margin
98.6%
Operating Margin
17.6%
Operating Margin = Operating Income / Revenue
Operating margin is the percentage of revenue remaining after operating expenses, reflecting operating efficiency.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | OPERATING MARGIN |
|---|---|
| 2026-06-30 | 13.49% |
| 2026-03-31 | 33.58% |
| 2025-12-31 | 33.59% |
| 2025-09-30 | 47.58% |
| 2025-06-30 | 17.73% |
| 2025-03-31 | -79.89% |
| 2024-12-31 | -22.51% |
| 2024-09-30 | 6.07% |
| 2024-06-30 | -45.99% |
| 2024-03-31 | 9.65% |
| 2023-12-31 | -11.95% |
| 2023-09-30 | 9.36% |
| 2023-06-30 | -7.52% |
| 2023-03-31 | 32.30% |
| 2022-12-31 | 45.02% |
| 2022-09-30 | 20.84% |
| 2022-06-30 | 17.28% |
| 2022-03-31 | 5.84% |
| 2021-12-31 | 17.57% |
| 2021-09-30 | 24.22% |
| 2021-06-30 | 54.02% |
| 2021-03-31 | 8.55% |
| 2020-12-31 | 16.02% |
| 2020-09-30 | 8.95% |
| 2020-06-30 | 17.14% |
| 2020-03-31 | 11.42% |
| 2019-12-31 | -37.70% |
| 2019-09-30 | -20.79% |
| 2019-06-30 | -16.53% |
| 2019-03-31 | 1900.80% |
| 2018-12-31 | 55.63% |
| 2018-09-30 | 51.16% |
| 2018-06-30 | 77.93% |
| 2018-03-31 | 65.96% |
| 2017-12-31 | 56.18% |
| 2017-09-30 | 49.42% |
| 2017-06-30 | 46.49% |
| 2017-03-31 | 34.91% |
| 2016-12-31 | 50.69% |
| 2016-09-30 | 25.28% |
| 2016-06-30 | 22.42% |
| 2016-03-31 | 50.92% |
| 2015-12-31 | 51.98% |
| 2015-09-30 | 48.57% |
| 2015-06-30 | 23.70% |
| 2015-03-31 | 22.94% |
| 2014-12-31 | 41.90% |
| 2014-09-30 | 23.59% |
| 2014-06-30 | 12.80% |
| 2014-03-31 | 31.96% |
| 2013-12-31 | 43.60% |
| 2013-09-30 | 23.61% |
| 2013-06-30 | 15.80% |
| 2013-03-31 | 33.75% |
| 2012-12-31 | 32.21% |
| 2012-09-30 | -20.74% |
| 2012-06-30 | -30.13% |
| 2012-03-31 | -13.57% |
| 2011-12-31 | 44.28% |
| 2011-09-30 | -59.21% |
| 2011-06-30 | -10.85% |
| 2011-03-31 | -56.93% |
| 2010-12-31 | -151.32% |
| 2010-09-30 | -200.91% |
| 2010-06-30 | -62.14% |
| 2010-03-31 | -67.57% |
| 2009-12-31 | 8.98% |
| 2009-09-30 | 9.80% |
| 2009-06-30 | -61.32% |
| 2009-03-31 | -77.28% |
| 2008-12-31 | -592.37% |
| 2008-09-30 | -121.09% |
| 2008-06-30 | -117.26% |
| 2008-03-31 | -244.13% |
| 2007-12-31 | -139.38% |
| 2007-09-30 | -159.23% |
| 2007-06-30 | -1018.87% |
| 2007-03-31 | -12358.72% |
| 2006-12-31 | 14.34% |
| 2006-09-30 | -41.04% |
| 2006-06-30 | -22.68% |
| 2006-03-31 | -269.06% |
| 2005-12-31 | -1.38% |
| 2005-09-30 | -8.25% |
| 2005-06-30 | -14.21% |
| 2005-03-31 | -42.64% |
| 2004-12-31 | -32.36% |
| 2004-09-30 | -7.85% |
| 2004-06-30 | -27.84% |
| 2004-03-31 | -28.04% |
| 2003-12-31 | 18.49% |
| 2003-09-30 | -26.19% |
| 2003-06-30 | -31.14% |
| 2003-03-31 | -54.33% |
| 2002-12-31 | -20.28% |
| 2002-09-30 | -26.86% |
