LQDA - Liquidia Corp

📈 Is growth accelerating? 6 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q1 FY2020 Mar 31, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗	Q4 FY2018 Dec 31, 2018 10-K ↗
Revenue Growth YoY (%)	4158.5% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+51881%)	3054.6% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+38083%)	1121.7% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+13921%)	141.5% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1669%)	5.0% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-38%)	-35.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-545%)	20.9% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+162%)	-23.5% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-394%)	-33.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-523%)	-15.5% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-293%)	16.2% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+103%)	22.2% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+177%)	28.7% Excellent → Excellent Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+258%)	66.7% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+734%)	-0.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-105%)	16.1% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+101%)	13.2% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+66%)	334.7% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+4083%)	—	—	—	—	—	—	—	—	—
EPS Growth YoY (%)	N/M	N/M	86.7% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-32.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	16.7% Good ↑ Good Improving Year-over-year change in earnings per share Optimal: > 10%	-9.5% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-25.0% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-2.8% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-200.0% Weak → Weak Stable Year-over-year change in earnings per share Optimal: > 10%	-366.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-71.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-140.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	40.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	60.9% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income Growth YoY (%)	N/M	N/M	6.3% Fair ↑ Fair Improving Year-over-year change in net income	6.3% Fair ↑ Fair Improving Year-over-year change in net income	6.3% Fair ↑ Fair Improving Year-over-year change in net income	-40.3% Weak ↑ Weak Improving Year-over-year change in net income	-248.5% Weak ↑ Weak Improving Year-over-year change in net income	-248.5% Weak ↓ Weak Declining Year-over-year change in net income	-248.5% Weak ↓ Weak Declining Year-over-year change in net income	-320.2% Weak ↓ Weak Declining Year-over-year change in net income	26.3% Excellent ↓ Excellent Declining Year-over-year change in net income	26.3% Excellent ↑ Excellent Improving Year-over-year change in net income	26.3% Excellent ↑ Excellent Improving Year-over-year change in net income	43.5% Excellent ↑ Excellent Improving Year-over-year change in net income	-73.6% Weak ↓ Weak Declining Year-over-year change in net income	-73.6% Weak ↓ Weak Declining Year-over-year change in net income	-73.6% Weak ↓ Weak Declining Year-over-year change in net income	28.1% Excellent ↓ Excellent Declining Year-over-year change in net income	37.9% Excellent → Excellent Stable Year-over-year change in net income	37.9% Excellent Excellent Year-over-year change in net income	37.9% Excellent Excellent Year-over-year change in net income	—	—	—	—	—	—
FCF Growth YoY (%)	N/M	—	—	—	-7.7% Weak Weak Year-over-year change in free cash flow	—	—	—	-147.8% Weak Weak Year-over-year change in free cash flow	—	—	—	26.8% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	209.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	158.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	158.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	31.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	-3.7% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-3.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	11.9% Good ↓ Good Declining Compound annual revenue growth over 3 years	2.7% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	-1.2% Weak Weak Compound annual revenue growth over 3 years	83.0% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 5Y (%)	112.3% Excellent Excellent Compound annual revenue growth over 5 years	162.4% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q1 FY2020 Mar 31, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗	Q4 FY2018 Dec 31, 2018 10-K ↗
Operating Margin (%) (%)	46.3% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+209%)	21.5% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+43%)	3.3% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-78%)	-424.4% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2929%)	—	—	—	—	—	—	-404.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2799%)	-476.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3279%)	-205.5% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1470%)	-121.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-908%)	-279.0% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1960%)	-228.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1626%)	-414.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2863%)	-353.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2456%)	-222.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1585%)	-188.2% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1355%)	-291.9% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2046%)	—	—	—	—	—	—
Effective Tax Rate (%) (%)	6.9% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	39.8% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+232%)	15.8% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+32%)	-70.6% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-688%)	-434.2% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3718%)	—	—	—	—	—	—	-319.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2761%)	-245.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2145%)	-261.4% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2278%)	-121.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1116%)	—	-406.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3491%)	-456.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3905%)	-359.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3097%)	-288.9% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2508%)	-272.0% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2367%)	-297.8% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2582%)	—	—	—	—	—	—
FCF Margin (%) (%)	37.8% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	45.9% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	-19.7% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-458.7% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	-357.3% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	-196.4% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-95.0% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	-280.1% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-235.7% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	-403.4% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	—
FCF / Net Income (x)	0.95x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	2.90x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.28x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.06x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.81x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	0.57x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	0.62x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.59x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	0.75x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	0.78x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—	—	0.61x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.66x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	1.35x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	0.88x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	0.85x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.91x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	0.99x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q1 FY2020 Mar 31, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗	Q4 FY2018 Dec 31, 2018 10-K ↗
Return on Invested Capital (%)	52.7% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	34.9% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	6.3% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	-195.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-56.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-35.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-20.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-34.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-26.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-44.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-24.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-29.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-8.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-4.7% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-6.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-5.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-15.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-11.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-6.7% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-5.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-9.7% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-15.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-17.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-122.2% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-53.1% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	15.3% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	6.0% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	0.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-14.6% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	-15.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-15.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-11.5% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-15.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-14.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	—	-13.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-18.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-7.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-5.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-6.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-6.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-15.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-12.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-7.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-6.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-10.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	-16.0% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—	—	—
Return on Common Equity (%) (%)	48.7% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+225%)	32.5% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+117%)	-174.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1260%)	-252.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1784%)	-77.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-615%)	-48.5% Weak → Weak Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-423%)	-37.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-347%)	-65.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-535%)	-47.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-416%)	-58.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-487%)	-24.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-263%)	-19.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-229%)	-14.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-196%)	-7.2% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-148%)	-16.8% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-212%)	-15.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-204%)	-28.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-292%)	-17.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-218%)	-12.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-184%)	-11.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-177%)	-14.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-197%)	-22.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-251%)	-22.7% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-251%)	-166.8% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1212%)	-67.9% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-553%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q1 FY2020 Mar 31, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗	Q4 FY2018 Dec 31, 2018 10-K ↗
Debt to Equity (x)	—	—	—	—	—	—	—	—	—	—	—	—	—	0.22x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-63%)	0.21x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-65%)	0.19x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-68%)	0.35x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-41%)	0.16x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-73%)	0.14x Excellent → Excellent Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-76%)	0.13x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-78%)	0.16x Excellent Excellent 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)	—	—	—	—	—	—	-9.74x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-10.46x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-11.41x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	—	-8.46x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-16.01x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-8.21x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-9.31x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-14.24x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-16.55x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-30.28x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-55.70x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-34.52x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-31.38x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-44.38x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-78.99x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-77.74x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-64.99x Weak Weak Operating income divided by interest expense Optimal: > 5x	-57.45x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—
Net Debt (USD)	$-222.79M	$-190.68M	$-157.50M	$-173.42M	$-169.76M	$-176.48M	$-204.37M	$-133.09M	$-157.86M	—	$-76.22M	$-88.20M	$-94.41M	$-73.40M	$-78.58M	$-84.23M	$-38.32M	$-47.08M	$-53.72M	$-57.64M	$-43.46M	$-55.02M	—	—	—	$10.29M	—
Debt / EBITDA (x)	—	—	—	—	—	—	—	—	—	—	—	—	—	-3.35x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-2.24x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-2.19x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.44x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.99x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.46x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.61x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.38x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.69x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q1 FY2020 Mar 31, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗	Q4 FY2018 Dec 31, 2018 10-K ↗
Revenue per Share (USD)	$1.51	—	$0.63	$0.10	$0.04	—	$0.06	$0.05	$0.04	—	$0.06	$0.07	$0.07	—	$0.05	$0.06	$0.07	—	—	—	—	—	—	—	—	—	—
Basic EPS, GAAP (USD)	$0.60	$0.17	$-0.04	$-0.49	$-0.45	$-0.46	$-0.30	$-0.37	$-0.54	$-0.42	$-0.24	$-0.36	$-0.18	$-0.09	$-0.14	$-0.15	$-0.30	$-0.23	—	—	—	—	—	—	—	—	—
Free Cash Flow per Share (USD)	$0.57	—	$-0.12	$-0.47	$-0.36	—	—	—	$-0.34	—	—	—	$-0.14	—	—	—	$-0.19	—	—	—	—	—	—	—	—	—	—
Book Value per Share (USD)	$1.23	$0.51	$0.25	$0.18	$0.58	$0.94	$1.31	$0.82	$1.13	—	$0.74	$0.94	$1.26	$1.40	$1.47	$1.59	$1.04	$1.25	$1.40	$1.52	$1.45	$1.64	—	—	—	$1.24	—
Tangible Book Value per Share (USD)	$1.15	$0.43	$0.17	$0.10	$0.50	$0.85	$1.22	$0.73	$1.04	—	$0.63	$0.82	$1.15	$1.28	$1.35	$1.46	$0.89	$1.09	$1.24	$1.35	$1.24	$1.42	—	—	—	$1.24	—
Basic Weighted Avg Shares (shares)	88.01M	—	86.33M	85.59M	85.17M	—	78.32M	76.44M	75.39M	—	64.86M	64.79M	64.66M	—	64.46M	62.18M	52.47M	—	—	—	—	—	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q1 FY2020 Mar 31, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗	Q4 FY2018 Dec 31, 2018 10-K ↗
Working Capital (USD)	$183.31M	$137.63M	$123.78M	$117.17M	$116.69M	$143.32M	$180.37M	$123.04M	$146.01M	—	$70.82M	$73.40M	$92.87M	$91.01M	$95.60M	$101.66M	$53.98M	$53.95M	$60.42M	$64.35M	$47.20M	$54.33M	—	—	—	$39.51M	—
LT Debt (USD)	—	—	—	—	—	—	—	—	—	—	—	—	—	$19.88M	$19.74M	$19.61M	$19.48M	$10.41M	$10.33M	$10.25M	$10.18M	$10.29M	—	—	—	$10.29M	—
Total Equity (USD)	$108.58M	$44.75M	$22.05M	$15.19M	$49.71M	$79.38M	$110.52M	$62.72M	$86.26M	$47.29M	$48.01M	$60.66M	$81.64M	$90.42M	$95.03M	$102.11M	$55.39M	$65.27M	$72.96M	$79.02M	$62.91M	$71.09M	$65.28M	$8.87M	$21.77M	$34.95M	$18.69M

📋 What is driving earnings? 4 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q1 FY2020 Mar 31, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗	Q4 FY2018 Dec 31, 2018 10-K ↗
Sales/Revenue/Turnover (USD)	$132.87M	$92.02M	$54.34M	$8.84M	$3.12M	$2.92M	$4.45M	$3.66M	$2.97M	$4.53M	$3.68M	$4.79M	$4.49M	$5.36M	$3.17M	$3.92M	$3.49M	$3.21M	$3.18M	$3.38M	$3.08M	$739.63K	$0.00	$0.00	$0.00	—	—
Depreciation Expense (USD)	$497.00K	$320.00K	$476.00K	$281.00K	$451.00K	$518.00K	—	—	$489.00K	$506.00K	—	—	$569.00K	$566.00K	—	—	$947.00K	$872.00K	—	—	$1.61M	$951.18K	$722.33K	$724.05K	$732.03K	—	—
Net Income, GAAP (USD)	$52.86M	$14.55M	$-38.37M	$-38.37M	$-38.37M	$-38.51M	$-40.93M	$-40.93M	$-40.93M	$-27.45M	$-11.74M	$-11.74M	$-11.74M	$-6.53M	$-15.94M	$-15.94M	$-15.94M	$-11.56M	$-9.18M	$-9.18M	$-9.18M	$-16.09M	$-14.79M	$-14.79M	$-14.79M	—	—
Operating Cash Flow (USD)	$52.99M	$44.24M	$-9.77M	$-39.48M	$-30.68M	$-20.81M	—	—	$-24.87M	$-15.98M	—	—	$-8.46M	$-4.60M	—	—	$-9.78M	$-7.56M	—	—	$-12.39M	$-14.09M	$-12.51M	$-13.11M	$-14.44M	—	—

Liquidia Corp

Analytical Summary

27-Year Financial Trajectory

Bullish Indicators

Bearish Risks

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