Liquidia Corp
LQDA Nasdaq· Pharmaceutical Preparations
Last close · Oct 26, 2026
$43.74
KIRA · Stoqly’s AI analyst, in plain words
- Liquidia Corp had $158M of revenue in fiscal 2025, up 1,031.2% on the year before. Over five years, revenue changed +192.5% a year on average.
- Its operating margin was −32.5%, up 834.2 pts: of every 100 in sales, about −32 is left after running the business.
- Liquidia Corp lost $68.9M in fiscal 2025.
- Free cash flow was −$40.0M in fiscal 2025, −25.3% of revenue.
Market cap
$4.4B
P/E
31.2x
Revenue
$158M
Net income
−$68.9M
Free cash flow
−$40.0M
Operating margin
−32.5%
Liquidia Corp in 30 seconds · fiscal 2025
Are sales growing?
+1,031.2%
Yes. Sales grew 1,031.2% last year.
Does it make a profit?
−43.5%
No. It lost money last year.
Does profit turn into cash?
−25.3%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 7
Weak. It passes 3 of 7 health tests.
How is the share priced?
31.2x
One share costs 31.2 times its yearly profit per share.
What Liquidia Corp does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 5, 2026
- Legal name
- Liquidia Corp
- CIK
- 0001819576
Liquidia Corp · LQDA
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $12.9M | $15.9M | $17.5M | $14.0M | $158M |
| Revenue growth | 1,637.8% | 24.0% | 9.7% | −20.0% | 1,031.2% |
| Gross margin | 76.5% | 82.1% | 83.5% | 58.0% | — |
| Operating margin | −263.0% | −243.3% | −419.6% | −866.6% | −32.5% |
| Net income | −$34.6M | −$41.0M | −$78.5M | −$128M | −$68.9M |
| Net margin | −269.0% | −257.4% | −448.9% | −916.6% | −43.5% |
| Diluted EPS | −$0.70 | −$0.67 | −$1.21 | −$1.63 | −$0.80 |
| Cash | |||||
| Cash from operations | −$34.0M | −$28.6M | −$41.6M | −$93.4M | −$35.7M |
| Capital expenditure | $0.1M | $0.6M | $1.3M | $4.9M | $4.3M |
| Free cash flow | −$34.1M | −$29.2M | −$42.9M | −$98.4M | −$40.0M |
| FCF margin | −265.6% | −183.1% | −245.0% | −702.9% | −25.3% |
| Share count change | 46.6% | 22.7% | 6.6% | 21.1% | 9.3% |
| Debt and strength | |||||
| Cash and short-term investments | $57.5M | $93.3M | $83.7M | $176M | $191M |
| Debt incl. finance leases | $11.1M | $20.2M | — | — | — |
| Shareholders' equity | $65.3M | $90.4M | $47.3M | $79.4M | $44.7M |
| Current ratio | 8.4x | 11.3x | 4.8x | 4.4x | 2.0x |
| Interest coverage | −44.4x | −16.6x | −11.7x | −8.3x | −2.1x |
| Returns and quality | |||||
| Return on capital | −146.9% | −180.0% | — | — | — |
| Return on equity | −50.7% | −52.7% | −114.0% | −202.6% | −111.1% |
| Return on tangible equity | −60.7% | −49.5% | −196.5% | −177.4% | −181.9% |
| Piotroski F-score | 5 | 4 | 3 | 2 | 3 |
| Altman Z'' | −7.0 | −3.8 | −11.3 | −6.8 | −4.4 |
Insiders bought, 12 months
$0.3M
1 insider
Insiders sold, 12 months
$231M
15 insiders
Of sales under plans
33%
$76.5M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Liquidia Corp · LQDA
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $43.74 a share, the company is worth $4.4B: 31.2 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001819576). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.