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LIQUIDIA CORP (LQDA) Stock Fundamental Analysis

NASDAQ:LQDA - US53635D2027 - Common Stock

27.68 USD
+0.22 (+0.8%)
Last: 8/29/2025, 8:00:00 PM
27.8 USD
+0.12 (+0.43%)
After Hours: 8/29/2025, 8:00:00 PM
Fundamental Rating

3

Overall LQDA gets a fundamental rating of 3 out of 10. We evaluated LQDA against 195 industry peers in the Pharmaceuticals industry. LQDA has a bad profitability rating. Also its financial health evaluation is rather negative. LQDA is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

LQDA had negative earnings in the past year.
LQDA had a negative operating cash flow in the past year.
In the past 5 years LQDA always reported negative net income.
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

The Return On Assets of LQDA (-54.96%) is worse than 63.59% of its industry peers.
LQDA's Return On Equity of -931.40% is on the low side compared to the rest of the industry. LQDA is outperformed by 80.00% of its industry peers.
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 76.92% of its industry peers.
LQDA's Gross Margin has declined in the last couple of years.
LQDA does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
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.
The number of shares outstanding for LQDA has been increased compared to 5 years ago.
Compared to 1 year ago, LQDA has a worse debt to assets ratio.
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 1.29, we must say that LQDA is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of LQDA (1.29) is better than 61.03% of its industry peers.
LQDA has a Debt/Equity ratio of 9.84. This is a high value indicating a heavy dependency on external financing.
LQDA has a worse Debt to Equity ratio (9.84) than 81.54% of its industry peers.
Industry RankSector Rank
Debt/Equity 9.84
Debt/FCF N/A
Altman-Z 1.29
ROIC/WACCN/A
WACC10.05%
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.
The Quick ratio of LQDA (2.41) is comparable to the rest of the industry.
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

The earnings per share for LQDA have decreased by -8.28% in the last year.
Looking at the last year, LQDA shows a very strong growth in Revenue. The Revenue has grown by 30.18%.
Measured over the past years, LQDA shows a quite strong growth in Revenue. The Revenue has been growing by 11.64% on average per year.
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.
LQDA is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 112.61% yearly.
EPS Next Y2.85%
EPS Next 2Y45.68%
EPS Next 3Y41.5%
EPS Next 5Y34.04%
Revenue Next Year299.36%
Revenue Next 2Y354.96%
Revenue Next 3Y194.72%
Revenue Next 5Y112.61%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

The Price/Earnings Ratio is negative for LQDA. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 135.49, the valuation of LQDA can be described as expensive.
Based on the Price/Forward Earnings ratio, LQDA is valued a bit cheaper than 67.69% of the companies in the same industry.
LQDA's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.76.
Industry RankSector Rank
PE N/A
Fwd PE 135.49
LQDA Price Earnings VS Forward Price EarningsLQDA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 100

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 LQDA does not grow enough to justify the current Price/Earnings ratio.
LQDA's earnings are expected to grow with 41.50% in the coming years. This may justify a more expensive valuation.
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

LQDA does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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LIQUIDIA CORP

NASDAQ:LQDA (8/29/2025, 8:00:00 PM)

After market: 27.8 +0.12 (+0.43%)

27.68

+0.22 (+0.8%)

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 Change0.81%
Market Cap2.38B
Analysts82.5
Price Target37.4 (35.12%)
Short Float %29.1%
Short Ratio7.36
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)36.93%
EPS NQ rev (1m)-4.1%
EPS NQ rev (3m)2.4%
EPS NY rev (1m)-0.61%
EPS NY rev (3m)-0.93%
Revenue NQ rev (1m)70.67%
Revenue NQ rev (3m)12.73%
Revenue NY rev (1m)59.02%
Revenue NY rev (3m)42.4%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 135.49
P/S 123.33
P/FCF N/A
P/OCF N/A
P/B 156.89
P/tB 289.41
EV/EBITDA N/A
EPS(TTM)-1.7
EYN/A
EPS(NY)0.2
Fwd EY0.74%
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 1.29
F-Score2
WACC10.05%
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 Year299.36%
Revenue Next 2Y354.96%
Revenue Next 3Y194.72%
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