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LIQUIDIA CORP (LQDA) Stock Fundamental Analysis

USA - NASDAQ:LQDA - US53635D2027 - Common Stock

23.475 USD
+1.54 (+7%)
Last: 9/25/2025, 10:46:07 AM
Fundamental Rating

3

LQDA gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 196 industry peers in the Pharmaceuticals industry. Both the profitability and financial health of LQDA have multiple concerns. While showing a medium growth rate, LQDA is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

LQDA had negative earnings in the past year.
In the past year LQDA has reported a negative cash flow from operations.
LQDA had negative earnings in each of the past 5 years.
In the past 5 years LQDA always reported negative operating cash flow.
LQDA Yearly Net Income VS EBIT VS OCF VS FCFLQDA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 -20M -40M -60M -80M -100M

1.2 Ratios

LQDA's Return On Assets of -54.96% is on the low side compared to the rest of the industry. LQDA is outperformed by 62.76% of its industry peers.
Looking at the Return On Equity, with a value of -931.40%, LQDA is doing worse than 79.08% of the companies in the same industry.
Industry RankSector Rank
ROA -54.96%
ROE -931.4%
ROIC N/A
ROA(3y)-51.66%
ROA(5y)-50.39%
ROE(3y)-127.25%
ROE(5y)-103.75%
ROIC(3y)N/A
ROIC(5y)N/A
LQDA Yearly ROA, ROE, ROICLQDA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200 -200

1.3 Margins

LQDA has a Gross Margin of 69.29%. This is in the better half of the industry: LQDA outperforms 77.04% of its industry peers.
In the last couple of years the Gross Margin of LQDA has declined.
The Profit Margin and Operating Margin are not available for LQDA so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 69.29%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-8.82%
GM growth 5Y-8.41%
LQDA Yearly Profit, Operating, Gross MarginsLQDA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -2K -4K -6K -8K

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3

2. Health

2.1 Basic Checks

LQDA does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for LQDA has been increased compared to 1 year ago.
Compared to 5 years ago, LQDA has more shares outstanding
The debt/assets ratio for LQDA is higher compared to a year ago.
LQDA Yearly Shares OutstandingLQDA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
LQDA Yearly Total Debt VS Total AssetsLQDA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

2.2 Solvency

Based on the Altman-Z score of 0.06, we must say that LQDA is in the distress zone and has some risk of bankruptcy.
LQDA has a Altman-Z score (0.06) which is in line with its industry peers.
A Debt/Equity ratio of 9.84 is on the high side and indicates that LQDA has dependencies on debt financing.
With a Debt to Equity ratio value of 9.84, LQDA is not doing good in the industry: 80.61% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 9.84
Debt/FCF N/A
Altman-Z 0.06
ROIC/WACCN/A
WACC9.73%
LQDA Yearly LT Debt VS Equity VS FCFLQDA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M -100M

2.3 Liquidity

A Current Ratio of 2.49 indicates that LQDA has no problem at all paying its short term obligations.
LQDA has a Current ratio (2.49) which is in line with its industry peers.
LQDA has a Quick Ratio of 2.41. This indicates that LQDA is financially healthy and has no problem in meeting its short term obligations.
LQDA's Quick ratio of 2.41 is in line compared to the rest of the industry. LQDA outperforms 49.49% of its industry peers.
Industry RankSector Rank
Current Ratio 2.49
Quick Ratio 2.41
LQDA Yearly Current Assets VS Current LiabilitesLQDA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

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6

3. Growth

3.1 Past

LQDA shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -8.28%.
Looking at the last year, LQDA shows a very strong growth in Revenue. The Revenue has grown by 30.18%.
LQDA shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 11.64% yearly.
EPS 1Y (TTM)-8.28%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-32.43%
Revenue 1Y (TTM)30.18%
Revenue growth 3Y2.89%
Revenue growth 5Y11.64%
Sales Q2Q%141.51%

3.2 Future

Based on estimates for the next years, LQDA will show a very strong growth in Earnings Per Share. The EPS will grow by 34.04% on average per year.
The Revenue is expected to grow by 112.61% on average over the next years. This is a very strong growth
EPS Next Y2.85%
EPS Next 2Y45.68%
EPS Next 3Y41.5%
EPS Next 5Y34.04%
Revenue Next Year336.74%
Revenue Next 2Y354.96%
Revenue Next 3Y200.71%
Revenue Next 5Y112.61%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
LQDA Yearly Revenue VS EstimatesLQDA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 200M 400M 600M 800M 1B
LQDA Yearly EPS VS EstimatesLQDA Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 0 2 -2 4 -4 6

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1

4. Valuation

4.1 Price/Earnings Ratio

LQDA reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
LQDA is valuated quite expensively with a Price/Forward Earnings ratio of 114.91.
Based on the Price/Forward Earnings ratio, LQDA is valued a bit cheaper than 67.86% of the companies in the same industry.
LQDA is valuated expensively when we compare the Price/Forward Earnings ratio to 22.80, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 114.91
LQDA Price Earnings VS Forward Price EarningsLQDA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60 80 100

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
LQDA Per share dataLQDA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 -0.5 -1 -1.5

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
A more expensive valuation may be justified as LQDA's earnings are expected to grow with 41.50% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y45.68%
EPS Next 3Y41.5%

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0

5. Dividend

5.1 Amount

No dividends for LQDA!.
Industry RankSector Rank
Dividend Yield N/A

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LIQUIDIA CORP

NASDAQ:LQDA (9/25/2025, 10:46:07 AM)

23.475

+1.54 (+7%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryPharmaceuticals
Earnings (Last)08-12 2025-08-12/bmo
Earnings (Next)11-11 2025-11-11/amc
Inst Owners66.57%
Inst Owner Change3.2%
Ins Owners4.23%
Ins Owner Change0.24%
Market Cap2.02B
Analysts82.67
Price Target37.4 (59.32%)
Short Float %23.49%
Short Ratio6.37
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-11.21%
Min EPS beat(2)-11.43%
Max EPS beat(2)-10.99%
EPS beat(4)1
Avg EPS beat(4)-5.41%
Min EPS beat(4)-20.44%
Max EPS beat(4)21.21%
EPS beat(8)1
Avg EPS beat(8)-22.41%
EPS beat(12)3
Avg EPS beat(12)-20.21%
EPS beat(16)4
Avg EPS beat(16)-22.79%
Revenue beat(2)1
Avg Revenue beat(2)53.95%
Min Revenue beat(2)-6.33%
Max Revenue beat(2)114.23%
Revenue beat(4)2
Avg Revenue beat(4)18.55%
Min Revenue beat(4)-37.8%
Max Revenue beat(4)114.23%
Revenue beat(8)2
Avg Revenue beat(8)-5.54%
Revenue beat(12)5
Avg Revenue beat(12)0.3%
Revenue beat(16)9
Avg Revenue beat(16)2.3%
PT rev (1m)21.01%
PT rev (3m)19.05%
EPS NQ rev (1m)-3.1%
EPS NQ rev (3m)6.67%
EPS NY rev (1m)0%
EPS NY rev (3m)6.49%
Revenue NQ rev (1m)1.74%
Revenue NQ rev (3m)73.65%
Revenue NY rev (1m)9.36%
Revenue NY rev (3m)77.16%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 114.91
P/S 104.59
P/FCF N/A
P/OCF N/A
P/B 133.05
P/tB 245.44
EV/EBITDA N/A
EPS(TTM)-1.7
EYN/A
EPS(NY)0.2
Fwd EY0.87%
FCF(TTM)-1.44
FCFYN/A
OCF(TTM)-1.35
OCFYN/A
SpS0.22
BVpS0.18
TBVpS0.1
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -54.96%
ROE -931.4%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 69.29%
FCFM N/A
ROA(3y)-51.66%
ROA(5y)-50.39%
ROE(3y)-127.25%
ROE(5y)-103.75%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-8.82%
GM growth 5Y-8.41%
F-Score2
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 9.84
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 425.91%
Cap/Sales 41%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.49
Quick Ratio 2.41
Altman-Z 0.06
F-Score2
WACC9.73%
ROIC/WACCN/A
Cap/Depr(3y)306.37%
Cap/Depr(5y)189%
Cap/Sales(3y)42.88%
Cap/Sales(5y)46.17%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-8.28%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-32.43%
EPS Next Y2.85%
EPS Next 2Y45.68%
EPS Next 3Y41.5%
EPS Next 5Y34.04%
Revenue 1Y (TTM)30.18%
Revenue growth 3Y2.89%
Revenue growth 5Y11.64%
Sales Q2Q%141.51%
Revenue Next Year336.74%
Revenue Next 2Y354.96%
Revenue Next 3Y200.71%
Revenue Next 5Y112.61%
EBIT growth 1Y-42.03%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-5.9%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-384.47%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-375.63%
OCF growth 3YN/A
OCF growth 5YN/A