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Liquidia Corp

LQDA

$90.18 ▲ +0.73 (+0.82%) at close

8 Visible periods

30 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

Liquidia Corp faces fundamental challenges with weakness in Return on Common Equity (%) and Profit Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $7.8B

Dividend Yield —

Revenue Growth 1031.2% ↗

Op. Margin -32.5%

ROIC -90.7% ↗

FCF / Share $-0.47 ↗

Trailing P/E —

Price / Book 175.7x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Aug 7, 2026.

8-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$158.32M

↑ +1031.2% —

Net Income Profit after all expenses

$-68.92M

↑ +46.3% —

Operating Margin Operating profit as % of sales

-32.5%

↑ +92.3% 7th

FCF / Share Free cash flow per share

$-0.47

↑ +62.8% —

Long-Term Debt Long-term obligations

$19.88M

↑ +91.0% —

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Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile
Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Profitability ↑

Returns ↓

Cash Quality ↓

Financial view

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📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Revenue Growth YoY (%)	1031.2% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+12790%)	-20.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-350%)	9.7% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+22%)	24.0% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+200%)	1637.8% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+20372%)	-90.8% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1235%)	—	—
EPS Growth YoY (%)	50.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-34.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-80.6% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	4.3% Caution Caution Year-over-year change in earnings per share Optimal: > 10%	60.2% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—	—
Net Income Growth YoY (%)	46.3% Excellent ↑ Excellent Improving Year-over-year change in net income	-63.4% Weak ↓ Weak Declining Year-over-year change in net income	-91.4% Weak ↓ Weak Declining Year-over-year change in net income	-18.6% Weak ↓ Weak Declining Year-over-year change in net income	42.1% Excellent Excellent Year-over-year change in net income	-25.6% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	62.8% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-89.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	-37.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	30.3% Excellent Excellent Year-over-year change in free cash flow	57.6% Excellent Excellent Year-over-year change in free cash flow	—	—	—
Revenue CAGR 3Y (%)	115.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	2.9% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	187.0% Excellent Excellent Compound annual revenue growth over 3 years	25.4% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	192.5% Excellent Excellent Compound annual revenue growth over 5 years	11.6% Good Good Compound annual revenue growth over 5 years	—	—	—	—	—	—

💰 Are margins durable? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Operating Margin (%) (%)	-32.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-316%)	—	-419.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2897%)	-243.3% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1722%)	-263.0% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1853%)	—	—	—
Profit Margin (%) (%)	-43.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-463%)	—	-448.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3841%)	-257.4% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2245%)	-269.0% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2342%)	—	—	—
FCF Margin (%) (%)	-25.3% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	—	-245.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-183.1% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-265.6% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—
FCF / Net Income (x)	0.58x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.77x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	0.55x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.71x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.99x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	0.92x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	1.05x Fair Fair Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Return on Invested Capital (%)	-90.7% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	-120.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-122.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-27.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-35.3% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-57.4% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-81.8% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-15.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-52.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-62.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-30.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-36.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-59.4% Weak Weak Operating profit relative to total assets Optimal: > 10%	-68.0% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	-154.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1127%)	-161.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1177%)	-166.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1207%)	-45.4% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-402%)	-53.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-453%)	-84.1% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-660%)	-136.2% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1008%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Debt to Equity (x)	—	—	—	0.22x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-63%)	0.16x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-73%)	0.14x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-76%)	0.29x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-51%)	—
Interest Coverage (x)	—	—	-11.70x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-16.58x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-44.35x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-68.87x Weak Weak Operating income divided by interest expense Optimal: > 5x	-34.09x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-190.68M	$-176.48M	$-83.68M	$-73.40M	$-47.08M	$-55.02M	$10.29M	—
Debt / EBITDA (x)	—	—	—	-0.57x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.37x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.18x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.23x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Revenue per Share (USD)	$1.84	$0.18	$0.27	$0.26	$0.26	$0.02	—	—
Basic EPS, GAAP (USD)	$-0.80	$-1.63	$-1.21	$-0.67	$-0.70	$-1.76	—	—
Free Cash Flow per Share (USD)	$-0.47	$-1.25	$-0.66	$-0.48	$-0.69	$-1.62	—	—
Book Value per Share (USD)	$0.51	$0.94	$0.69	$1.40	$1.25	$1.64	$1.24	—
Tangible Book Value per Share (USD)	$0.43	$0.85	$0.58	$1.28	$1.09	$1.42	$1.24	—
Basic Weighted Avg Shares (shares)	86.06M	78.71M	64.99M	60.96M	49.68M	33.89M	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Working Capital (USD)	$137.63M	$143.32M	$71.35M	$91.01M	$53.95M	$54.33M	$39.51M	—
LT Debt (USD)	—	—	—	$19.88M	$10.41M	$10.29M	$10.29M	—
Total Equity (USD)	$44.75M	$79.38M	$47.29M	$90.42M	$65.27M	$71.09M	$34.95M	$18.69M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Sales/Revenue/Turnover (USD)	$158.32M	$14.00M	$17.49M	$15.94M	$12.85M	$739.63K	$8.07M	—
Depreciation Expense (USD)	$1.53M	$2.20M	$2.18M	$3.65M	$5.61M	$3.13M	$2.57M	—
Net Income, GAAP (USD)	$-68.92M	$-128.29M	$-78.50M	$-41.02M	$-34.58M	$-59.76M	$-47.58M	—
Operating Cash Flow (USD)	$-35.69M	$-93.42M	$-41.56M	$-28.59M	$-34.03M	$-54.14M	$-48.28M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 8 years · 27 quarters

Liquidia Corp

Analytical Summary

8-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

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