LQDT Nasdaq Services-Business Services, Nec Financials FY2016βFY2025
Liquidity Services Inc had $477M of revenue in fiscal 2025, up 31.2% on the year before. Over five years, revenue changed +18.3% a year on average.
Last close Β· Oct 26, 2026
$45.42
1.3%Hi! I read Liquidity Services Incβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+31.2%
Yes. Sales grew 31.2% last year.
Does it make a profit?
5.9%
A little. It keeps 5.9% of every sale as profit.
Does profit turn into cash?
12.4%
Yes. 12.4% of sales ends up as free cash.
How healthy are the accounts?
6 / 8
Mixed. It passes 6 of 8 health tests.
How is the share priced?
44.5x
One share costs 44.5 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Liquidity Services Inc had $477M of revenue in fiscal 2025, up 31.2% on the year before. Over five years, revenue changed +18.3% a year on average. Its operating margin was 7.4%, up 0.9Β pts: of every 100 in sales, about 7 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Liquidity Services Inc made $28.1M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $59.0M in fiscal 2025, 12.4% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Liquidity Services Inc returned $16.2M to shareholders in fiscal 2025, 27% of free cash flow. The diluted share count rose 2.5%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $14.1M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$14.1M
9 insiders
Of sales under plans
47%
$6.7M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 1, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 715 | $42.75 | $0.0M | Form 4 |
| Sep 1, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 715 | $41.27 | $0.0M | Form 4 |
| Aug 3, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 715 | $39.00 | $0.0M | Form 4 |
| Jul 1, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 462 | $39.13 | $0.0M | Form 4 |
| Jun 26, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 39 | $39.09 | $0.0M | Form 4 |
| Jun 24, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 10,139 | $39.24 | $0.4M | Form 4 |
| Jun 23, 2026 | Jaime Mateus-TiqueDirector | Sold plan | 38,471 | $37.99 | $1.5M | Form 4 |
| Jun 22, 2026 | Jaime Mateus-TiqueDirector | Sold plan | 1,011 | $37.95 | $0.0M | Form 4 |
| Jun 18, 2026 | Jaime Mateus-TiqueDirector | Sold plan | 9,791 | $37.95 | $0.4M | Form 4 |
| Jun 16, 2026 | Jaime Mateus-TiqueDirector | Sold plan | 33,727 | $37.95 | $1.3M | Form 4 |
| Jun 15, 2026 | Jaime Mateus-TiqueDirector | Sold plan | 2,000 | $37.95 | $0.1M | Form 4 |
| Jun 10, 2026 | Jorge CelayaEVP & Chief Financial Officer | Sold | 2,409 | $38.00 | $0.1M | Form 4 |
| Jun 4, 2026 | Jorge CelayaEVP & Chief Financial Officer | Sold | 3,842 | $37.26 | $0.1M | Form 4 |
| Jun 1, 2026 | Jorge CelayaEVP & Chief Financial Officer | Sold | 9,951 | $36.79 | $0.4M | Form 4 |
| May 28, 2026 | Jorge CelayaEVP & Chief Financial Officer | Sold | 6,098 | $36.40 | $0.2M | Form 4 |
| May 27, 2026 | Jorge CelayaEVP & Chief Financial Officer | Sold | 5,320 | $36.06 | $0.2M | Form 4 |
| May 26, 2026 | Jorge CelayaEVP & Chief Financial Officer | Sold | 11,303 | $35.24 | $0.4M | Form 4 |
| May 22, 2026 | Novelette MurrayChief Human Resources Officer | Sold | 6,176 | $34.16 | $0.2M | Form 4 |
| May 22, 2026 | Steven WeiskircherSVP & Chief Technology Officer | Sold | 11,477 | $34.23 | $0.4M | Form 4 |
| May 22, 2026 | Mark A ShafferVP, Gen. Counsel & Secretary | Sold | 45,246 | $34.00 | $1.5M | Form 4 |
| May 21, 2026 | Steven WeiskircherSVP & Chief Technology Officer | Sold | 493 | $34.45 | $0.0M | Form 4 |
| May 11, 2026 | Jaime Mateus-TiqueDirector | Sold | 6,913 | $34.52 | $0.2M | Form 4 |
| May 11, 2026 | Mark A ShafferVP, Gen. Counsel & Secretary | Sold | 6,763 | $34.69 | $0.2M | Form 4 |
| May 5, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 2,600 | $37.00 | $0.1M | Form 4 |
| Apr 24, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 2,600 | $35.06 | $0.1M | Form 4 |
| Apr 14, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 2,600 | $33.02 | $0.1M | Form 4 |
| Mar 11, 2026 | John DauntEVP, Chief Commercial Officer | Sold plan | 2,600 | $31.67 | $0.1M | Form 4 |
| Mar 11, 2026 | Novelette MurrayChief Human Resources Officer | Sold | 1,826 | $31.50 | $0.1M | Form 4 |
| Mar 10, 2026 | Jorge CelayaEVP & Chief Financial Officer | Sold | 213 | $33.04 | $0.0M | Form 4 |
| Mar 9, 2026 | Jorge CelayaEVP & Chief Financial Officer | Sold | 7,914 | $32.10 | $0.3M | Form 4 |
| Mar 9, 2026 | William P Angrick IIIChairman of the Board and CEO, Director, 10% owner | Sold | 44,115 | $32.00 | $1.4M | Form 4 |
| Mar 6, 2026 | William P Angrick IIIChairman of the Board and CEO, Director, 10% owner | Sold | 5,885 | $32.05 | $0.2M | Form 4 |
| Mar 6, 2026 | Steven WeiskircherSVP & Chief Technology Officer | Sold | 4,967 | $32.07 | $0.2M | Form 4 |
| Feb 10, 2026 | Jaime Mateus-TiqueDirector | Sold plan | 12,939 | $33.19 | $0.4M | Form 4 |
| Feb 9, 2026 | Jaime Mateus-TiqueDirector | Sold plan | 52,061 | $33.20 | $1.7M | Form 4 |
| Feb 6, 2026 | Jaime Mateus-TiqueDirector | Sold plan | 1,100 | $33.19 | $0.0M | Form 4 |
| Feb 5, 2026 | Jaime Mateus-TiqueDirector | Sold plan | 12,290 | $33.20 | $0.4M | Form 4 |
| Dec 11, 2025 | Katharin S DyerDirector | Sold | 8,196 | $31.62 | $0.3M | Form 4 |
| Dec 10, 2025 | Steven WeiskircherSVP & Chief Technology Officer | Sold | 1,209 | $31.45 | $0.0M | Form 4 |
| Dec 1, 2025 | Jorge CelayaEVP & Chief Financial Officer | Sold | 2,451 | $30.01 | $0.1M | Form 4 |
| Nov 26, 2025 | Jorge CelayaEVP & Chief Financial Officer | Sold | 15,114 | $30.24 | $0.5M | Form 4 |
| Nov 24, 2025 | Steven WeiskircherSVP & Chief Technology Officer | Sold | 11,453 | $28.05 | $0.3M | Form 4 |
| Nov 24, 2025 | Mark A ShafferVP, Gen. Counsel & Secretary | Sold | 1,719 | $28.54 | $0.0M | Form 4 |
| Nov 24, 2025 | George H EllisDirector | Sold | 4,500 | $28.67 | $0.1M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Liquidity Services Inc can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $106M | $97.9M | $118M | $156M | $186M |
| Current ratio | 1.2x | 1.0x | 1.2x | 1.3x | 1.4x |
| Quick ratio | 1.1x | 1.0x | 1.1x | 1.2x | 1.3x |
| Total assets | $256M | $288M | $289M | $347M | $375M |
| Total liabilities | $121M | $134M | $127M | $164M | $172M |
| Shareholders' equity | $135M | $155M | $162M | $183M | $203M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Liquidity Services Inc passes 6 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 8 | 4 / 8 | 3 / 8 | 4 / 8 | 5 / 8 | 4 / 8 | 6 / 8 | 5 / 8 | 6 / 8 |
| Accruals ratio | β40.7% | β3.2% | β5.9% | β6.7% | β10.6% | β6.4% | β1.7% | β9.0% | β15.8% | β10.7% |
| Altman Z'' | 2.76 | 1.17 | 0.67 | β0.31 | β0.10 | 1.56 | 2.11 | 2.41 | 2.55 | 3.31 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $316M | $270M | $225M | $227M | $206M | $258M | $280M | $314M | $363M | $477M |
| Net interest income | $1.2M | $0.6M | $0.8M | $1.4M | $0.9M | $0.4M | $0.2M | $2.9M | $3.9M | $4.4M |
| Gross profit | $162M | $124M | $110M | $113M | $110M | $150M | $161M | $172M | $185M | $209M |
| Operating income | β$34.1M | β$40.2M | β$21.7M | β$19.5M | β$3.9M | $27.2M | $47.4M | $26.1M | $23.4M | $35.1M |
| Pretax income | β$32.9M | β$39.6M | β$20.9M | β$18.1M | β$3.0M | $27.6M | $47.7M | $29.0M | $27.3M | $39.4M |
| Income tax | $27.0M | β$0.5M | β$9.3M | $1.2M | $0.8M | β$23.4M | $7.3M | $8.0M | $7.3M | $11.3M |
| Net income | β$59.9M | β$39.2M | β$11.6M | β$19.3M | β$3.8M | $50.9M | $40.3M | $21.0M | $20.0M | $28.1M |
| Net income to common | β$59.9M | β$39.2M | β$11.6M | β$19.3M | β$3.8M | $50.9M | $40.3M | $21.0M | $20.0M | $28.1M |
| Diluted EPS | β$1.96 | β$1.25 | β$0.36 | β$0.58 | β$0.11 | $1.45 | $1.20 | $0.65 | $0.63 | $0.87 |
| Diluted shares | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.04B | 0.03B | 0.03B | 0.03B | 0.03B |
| Cash flow | ||||||||||
| Cash from operations | $45.8M | β$31.7M | $0.6M | β$6.2M | $16.5M | $65.4M | $44.8M | $47.0M | $70.2M | $66.8M |
| Capital expenditure | $6.1M | $7.8M | $4.2M | $5.9M | $4.2M | $5.4M | $8.1M | $5.4M | $8.9M | $7.8M |
| Free cash flow | $39.7M | β$39.5M | β$3.6M | β$12.2M | $12.3M | $60.0M | $36.7M | $41.6M | $61.3M | $59.0M |
| Depreciation and amortization | $6.5M | $5.8M | $4.6M | $5.1M | $6.3M | $7.0M | $10.3M | $11.3M | $12.1M | $10.4M |
| Stock-based compensation | $12.2M | $7.4M | $6.6M | $6.5M | $5.7M | $6.9M | $8.5M | $8.2M | $11.1M | $14.5M |
| Acquisitions | $0.0M | $0.0M | $16.7M | $0.0M | $0.0M | $0.0M | $11.2M | $0.0M | $13.2M | $6.5M |
| Share buybacks | β | β | $0.0M | $0.0M | $4.0M | $31.1M | $25.4M | $21.2M | $9.4M | $16.2M |
| Dividends and buybacks | β | β | $0.0M | $0.0M | $4.0M | $31.1M | $25.4M | $21.2M | $9.4M | $16.2M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $135M | $94.3M | $78.4M | $66.5M | $76.0M | $106M | $97.9M | $118M | $156M | $186M |
| Finance lease liabilities | β | β | β | β | $0.3M | $0.3M | $0.3M | $0.2M | $0.2M | $0.3M |
| Current assets | $185M | $139M | $103M | $89.9M | $94.6M | $132M | $130M | $146M | $199M | $225M |
| Current liabilities | $85.5M | $70.8M | $68.5M | $68.8M | $74.3M | $109M | $124M | $121M | $155M | $162M |
| Inventory | $27.6M | $20.7M | $10.1M | $5.8M | $5.6M | $12.5M | $11.7M | $11.1M | $17.1M | $14.2M |
| Property and equipment, net | $14.4M | $16.8M | $16.6M | $18.8M | $17.8M | $17.6M | $19.1M | $17.2M | $18.0M | $18.3M |
| Goodwill | $45.1M | $45.4M | $59.8M | $59.5M | $59.8M | $59.9M | $88.9M | $89.4M | $97.8M | $103M |
| Intangible assets | $2.7M | $0.4M | $7.4M | $6.0M | $4.8M | $3.5M | $16.2M | $12.5M | $13.9M | $13.3M |
| Total assets | $260M | $215M | $202M | $187M | $197M | $256M | $288M | $289M | $347M | $375M |
| Total liabilities | $97.5M | $82.6M | $72.2M | $71.1M | $84.8M | $121M | $134M | $127M | $164M | $172M |
| Shareholders' equity | $163M | $133M | $130M | $116M | $112M | $135M | $155M | $162M | $183M | $203M |
| Margins | ||||||||||
| Gross margin | 51.2% | 46.1% | 48.9% | 50.0% | 53.4% | 58.2% | 57.4% | 54.7% | 51.0% | 43.8% |
| Operating margin | β10.8% | β14.9% | β9.7% | β8.6% | β1.9% | 10.5% | 16.9% | 8.3% | 6.4% | 7.4% |
| EBITDA margin | β8.7% | β12.8% | β7.6% | β6.4% | 1.2% | 13.3% | 20.6% | 11.9% | 9.8% | 9.5% |
| Net margin | β18.9% | β14.5% | β5.2% | β8.5% | β1.8% | 19.8% | 14.4% | 6.7% | 5.5% | 5.9% |
| FCF margin | 12.6% | β14.6% | β1.6% | β5.4% | 6.0% | 23.3% | 13.1% | 13.2% | 16.9% | 12.4% |
| Net interest share of revenue | 0.4% | 0.2% | 0.3% | 0.6% | 0.4% | 0.2% | 0.1% | 0.9% | 1.1% | 0.9% |
| Returns | ||||||||||
| Return on capital employed | β19.5% | β27.9% | β16.3% | β16.5% | β3.2% | 18.6% | 28.8% | 15.5% | 12.2% | 16.4% |
| Return on equity | β36.9% | β26.5% | β8.9% | β15.7% | β3.3% | 41.3% | 27.9% | 13.3% | 11.6% | 14.6% |
| Return on assets | β23.0% | β16.5% | β5.6% | β9.9% | β2.0% | 22.5% | 14.8% | 7.3% | 6.3% | 7.8% |
| Return on tangible equity | β52.2% | β45.1% | β18.6% | β38.0% | β8.0% | 71.1% | 81.6% | 35.1% | 28.2% | 32.3% |
| Growth | ||||||||||
| Revenue growth | β | β14.7% | β16.9% | 0.9% | β9.1% | 25.1% | 8.7% | 12.3% | 15.5% | 31.2% |
| Net income growth | β | β | β | β | β | β | β20.9% | β48.0% | β4.7% | 40.5% |
| EPS growth | β | β | β | β | β | β | β17.2% | β45.8% | β3.1% | 38.1% |
| FCF growth | β | β199.3% | β | β | β | 388.1% | β38.8% | 13.4% | 47.3% | β3.8% |
| Share count change | β | 2.5% | 2.2% | 3.0% | 1.7% | 4.2% | β3.7% | β4.9% | β1.4% | 2.5% |
| Financial health | ||||||||||
| Current ratio | 2.2x | 2.0x | 1.5x | 1.3x | 1.3x | 1.2x | 1.0x | 1.2x | 1.3x | 1.4x |
| Quick ratio | 1.8x | 1.7x | 1.4x | 1.2x | 1.2x | 1.1x | 1.0x | 1.1x | 1.2x | 1.3x |
| Capital allocation | ||||||||||
| Capex / revenue | 1.9% | 2.9% | 1.9% | 2.6% | 2.0% | 2.1% | 2.9% | 1.7% | 2.5% | 1.6% |
| Stock comp / revenue | 3.9% | 2.7% | 2.9% | 2.9% | 2.7% | 2.7% | 3.0% | 2.6% | 3.1% | 3.0% |
| Payouts / FCF | β | β | β | β | 32.4% | 51.9% | 69.3% | 50.9% | 15.4% | 27.4% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 4.0 | 3.0 | 4.0 | 5.0 | 4.0 | 6.0 | 5.0 | 6.0 |
| Altman Z'' | 2.8 | 1.2 | 0.7 | β0.3 | β0.1 | 1.6 | 2.1 | 2.4 | 2.5 | 3.3 |
| Accruals ratio | β40.7% | β3.2% | β5.9% | β6.7% | β10.6% | β6.4% | β1.7% | β9.0% | β15.8% | β10.7% |
Source: SEC EDGAR XBRL filings (CIK 0001235468). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
