Ligand Pharmaceuticals, Inc.
S&P 600
Cash Flow
Cash Flow Breakdown
Figures in US$OperatingInvestingFinancing
How to read this: the three bars show where cash moved each year. Operating is cash from the core business (you generally want this positive and growing). Investing is usually negative — money spent on assets or acquisitions. Financing shows money raised from, or returned to, lenders and shareholders. Bars above the line are cash in; bars below are cash out.
Operating Cash Flow vs Capex
Figures in US$Operating Cash FlowCapital Expenditure
How to read this: operating cash flow is the cash the business generated; capital expenditure is what it spent on long-term assets like plant and equipment. The gap between them is roughly free cash flow — the cash left over. A wide gap (operating well above capex) means the business funds its investment comfortably from its own earnings.
| Period | Operating Cash Flow | Investing Cash Flow | Financing Cash Flow | Capital Expenditure |
|---|---|---|---|---|
| FY2014 | $20.57M | $-2.03M | $130.03M | $6.00K |
| FY2015 | $41.73M | $-112.86M | $8.36M | $93.00K |
| FY2016 | $60.73M | $-134.42M | $-4.99M | $1.85M |
| FY2017 | $88.57M | $-79.18M | $-7.52M | $2.16M |
| FY2018 | $194.06M | $-423.27M | $328.59M | $887.00K |
| FY2019 | $-29.34M | $466.92M | $-485.17M | $2.55M |
| FY2020 | $54.59M | $231.65M | $-310.55M | $4.46M |
| FY2021 | $78.80M | $30.52M | $-137.76M | $8.76M |
| FY2022 | $137.85M | $163.62M | $-275.99M | $17.92M |
| FY2023 | $49.58M | $-11.68M | $-59.95M | $3.52M |
| FY2024 | $97.05M | $-143.66M | $97.14M | $1.82M |
| FY2025 | $49.36M | $-377.32M | $428.22M | $452.00K |
Figures in USD. Educational data only.
Understanding these terms
Plain-English explanations of each figure in the table above, and what a beginner typically looks at. These are educational descriptions only, not advice.
- Operating Cash Flow
- Cash produced by the company's core operations during the period. The US equivalent of "Cash from Operating Activity".How a beginner reads it: A beginner uses this as a reality check on profit, since it reflects cash actually collected. Healthy, consistent operating cash flow underpins a company's ability to invest and repay debt.
- Investing Cash Flow
- Cash used for or generated by buying and selling long-term assets and investments. The US equivalent of "Cash from Investing Activity".How a beginner reads it: A beginner expects this to be negative for companies investing in growth. Reading it next to operating cash flow shows whether the business funds its investments from its own earnings.
- Financing Cash Flow
- Cash flows with lenders and shareholders — borrowing, repaying, issuing shares, buybacks, and dividends. The US equivalent of "Cash from Financing Activity".How a beginner reads it: A beginner reads this to understand whether the company is taking in money (borrowing/issuing) or paying it out (repaying/dividends), and how that fits the operating picture.
- Capital Expenditure
- Money spent on buying or upgrading long-lived assets like plant, equipment, and buildings. Often shortened to "capex".How a beginner reads it: A beginner reads capex against operating cash flow to see whether a company funds its investment from its own earnings. Operating cash flow minus capex is roughly free cash flow.