Legend Biotech (LEGN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Legend Biotech

NasdaqGS•Healthcare•Biotechnology

$17.00-0.67(-0.04%)Pre-market

Market Cap

$3.29B

P/S

2.6x

P/B

2.7x

Legend Biotech Corporation, through its subsidiaries, operates as a biopharmaceutical company that discovers, develops, manufactures, and commercializes novel cell therapies for oncology and other indications in the United States, China, and Europe. Its lead product candidate is ciltacabtagene autoleucel, or cilta-cel, which is a chimeric antigen receptor (CAR-T) therapy for the treatment of multiple myeloma (MM). The company also has a portfolio of earlier-stage autologous CAR-T product candidates targeting various cancers, including acute lymphoblastic leukemia, gastric cancer, esophageal cancer, pancreatic cancer, colorectal cancer, small cell lung cancer, and non-small cell lung cancer. In addition, it develops allogeneic gamma delta CAR-T and allogeneic CAR-NK product candidates targeting B-cell maturation antigen (BCMA) for MM, which are in investigator-initiated Phase 1 clinical trials in China. The company has a collaboration and license agreement with Janssen Biotech, Inc. for the development and commercialization of cilta-cel, as well as a license agreement with Novartis Pharma AG for the development, manufacture, and commercialization of CAR-T cell therapies targeting delta-like ligand protein 3. Legend Biotech Corporation was founded in 2014 and is headquartered in Somerset, New Jersey.

How this company scores

AverageMetricSide Score: 57/100

Strongest: Growth (20/25); weakest: Cash & Earnings Quality (5/25).

Profitability17/25

Growth20/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality5/25

Strengths

Growing revenueLong cash runwayInterest easily coveredProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 4.5x5y range 2.8x – 80.0x

Currently below its 20-quarter median.

P/B · 4.6x5y range 3.3x – 30.3x

Currently below its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $3.29B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.27B
Q. Revenue: $387.50M
TTM EBITDA: $-7.24M
TTM Op. Income: $-56.15M
Q. Op. Income: $57.70M
TTM Net Income: $-91.60M
Q. Net Income: $33.20M
EPS: N/A
Shares Out.: $193.80M

$1.27B in TTM revenue grew 59.5% YoY, reaching $387.50M last quarter. TTM EBITDA of $-7.24M and TTM operating income of $-56.15M show growth is flowing through to the bottom line. However, net income is negative at $91.60M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 15.5%
Op. Margin: 14.9%
Net Margin: 8.6%

Op. margin of 14.9% is up 23.5% YoY — cost efficiency is improving. Net margin at 8.6% Over the past year, operating margin is up 274% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 4.5x
P/B Ratio: 4.6x

P/S of 4.5x and P/B of 4.6x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.75B
Cash: $672.92M
Long-Term Debt: N/A
Book Value: $1.23B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

TTM Free Cash Flow: $-255.61M
FCF Margin: -20.1%
FCF / Net Income: 2.8

TTM FCF of $-255.61M. The FCF / Net Income ratio of 2.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.