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Liquidia Corporation (LQDA) 10-Year Financial Performance & Capital Metrics

LQDA • • Industrial / General
HealthcareBiotechnologyMetabolic & Liver DiseasesNASH & Liver Diseases
AboutLiquidia Corporation, a biopharmaceutical company, develops, manufactures, and commercializes various products for unmet patient needs in the United States. Its product candidates include YUTREPIA, an inhaled dry powder formulation of treprostinil for the treatment of pulmonary arterial hypertension. It also distributes generic treprostinil injection in the United States. Liquidia Corporation was founded in 2004 and is headquartered in Morrisville, North Carolina.Show more
  • Revenue $14M -20.0%
  • EBITDA -$119M -67.3%
  • Net Income -$130M -66.1%
  • EPS (Diluted) -1.66 -37.2%
  • Gross Margin 58% -30.5%
  • EBITDA Margin -850.94% -109.0%
  • Operating Margin -866.63% -106.5%
  • Net Margin -931.65% -107.5%
  • ROE -209.35% -83.6%
  • ROIC -500.72% -58.1%
  • Debt/Equity 1.58 +51.2%
  • Interest Coverage -9.71 +17.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 93 (top 7%)
  • ✓Strong 5Y sales CAGR of 11.6%

✗Weaknesses

  • ✗Weak Piotroski F-Score: 1/9
  • ✗Negative free cash flow
  • ✗Shares diluted 21.1% in last year
  • ✗Expensive at 39.5x book value
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y11.64%
3Y2.88%
TTM343.41%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-1.99%

EPS CAGR

10Y-
5Y-
3Y-
TTM10.57%

ROCE

10Y Avg-97.97%
5Y Avg-62.33%
3Y Avg-62.76%
Latest-84.14%

Peer Comparison

NASH & Liver Diseases
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Size & Scale
Valuation
Per Share
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Quality & Returns
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Technical
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Sector-Specific
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MAZEMaze Therapeutics, Inc.1.92B39.81511.7031.18%-33.24%3.91%0.14
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TVRDTvardi Therapeutics, Inc.42.31M4.51-0.10-65.96%-317.54%-63.46%
UNCYUnicycive Therapeutics, Inc.134.75M6.27-1.12-100%-89.15%0.10
GLTOGalecto, Inc.38.32M23.95-1.29-237.68%0.00
IVAInventiva S.A.1.17B6.12-1.73-47.37%-13.75%
AKBAAkebia Therapeutics, Inc.355.59M1.34-4.06-17.7%-7.07%-38.24%

Profit & Loss

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+13.22M7.26M2.71M8.07M739.63K12.85M15.94M17.49M14M
Revenue Growth %--0.45%-0.63%1.98%-0.91%16.38%0.24%0.1%-0.2%
Cost of Goods Sold+918.78K319.76K121.39K807.19K237.71K3.02M2.86M2.89M5.88M
COGS % of Revenue0.07%0.04%0.04%0.1%0.32%0.24%0.18%0.17%0.42%
Gross Profit+12.3M6.94M2.59M7.26M501.92K9.83M13.08M14.6M8.12M
Gross Margin %0.93%0.96%0.96%0.9%0.68%0.76%0.82%0.83%0.58%
Gross Profit Growth %--0.44%-0.63%1.81%-0.93%18.58%0.33%0.12%-0.44%
Operating Expenses+28.16M34.97M37.45M54.09M59.59M43.63M51.85M87.98M129.41M
OpEx % of Revenue2.13%4.82%13.84%6.7%80.57%3.39%3.25%5.03%9.25%
Selling, General & Admin4.84M10.21M8.75M13.6M27.37M23.11M32.41M44.74M81.57M
SG&A % of Revenue0.37%1.41%3.23%1.68%37%1.8%2.03%2.56%5.83%
Research & Development23.32M24.75M28.7M40.49M32.22M20.52M19.43M43.24M47.84M
R&D % of Revenue1.76%3.41%10.6%5.02%43.57%1.6%1.22%2.47%3.42%
Other Operating Expenses000000000
Operating Income+-15.86M-28.03M-34.87M-46.82M-59.09M-33.8M-38.77M-73.38M-121.29M
Operating Margin %-1.2%-3.86%-12.88%-5.8%-79.89%-2.63%-2.43%-4.2%-8.67%
Operating Income Growth %--0.77%-0.24%-0.34%-0.26%0.43%-0.15%-0.89%-0.65%
EBITDA+-15.21M-27.1M-33.32M-44.03M-55.97M-28.18M-35.12M-71.21M-119.1M
EBITDA Margin %-1.15%-3.73%-12.31%-5.45%-75.68%-2.19%-2.2%-4.07%-8.51%
EBITDA Growth %--0.78%-0.23%-0.32%-0.27%0.5%-0.25%-1.03%-0.67%
D&A (Non-Cash Add-back)651.56K931.93K1.54M2.79M3.12M5.61M3.65M2.18M2.2M
EBIT-15.85M-16.14M-34.15M-46.21M-58.9M-33.82M-38.68M-72.23M-117.91M
Net Interest Income+-70.96K-13.01M-18.68M-759.91K-673.64K-729K-1.25M-2.81M-4.83M
Interest Income14.91K268304.98K613.72K184.36K33K1.09M3.47M7.65M
Interest Expense85.86K13.01M18.99M1.37M858K762K2.34M6.27M12.49M
Other Income/Expense-70.96K-1.13M-18.27M-759.91K-673.64K-782K-2.25M-5.12M-9.1M
Pretax Income+-15.93M-29.15M-53.14M-47.58M-59.76M-34.58M-41.02M-78.5M-130.39M
Pretax Margin %-1.21%-4.02%-19.63%-5.89%-80.8%-2.69%-2.57%-4.49%-9.32%
Income Tax+14.91K00000000
Effective Tax Rate %1%1%1%1%1%1%1%1%1%
Net Income+-15.93M-29.15M-53.14M-47.58M-59.76M-34.58M-41.02M-78.5M-130.39M
Net Margin %-1.21%-4.02%-19.63%-5.89%-80.8%-2.69%-2.57%-4.49%-9.32%
Net Income Growth %--0.83%-0.82%0.1%-0.26%0.42%-0.19%-0.91%-0.66%
Net Income (Continuing)-15.93M-29.15M-53.14M-47.58M-59.76M-34.58M-41.02M-78.5M-130.39M
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)+-1.86-3.40-7.42-2.51-1.76-0.70-0.67-1.21-1.66
EPS Growth %--0.83%-1.18%0.66%0.3%0.6%0.04%-0.81%-0.37%
EPS (Basic)-1.86-3.40-7.42-2.51-1.76-0.70-0.67-1.21-1.66
Diluted Shares Outstanding8.59M8.59M7.16M18.48M33.89M49.68M60.96M64.99M78.71M
Basic Shares Outstanding8.59M8.59M7.16M18.48M33.89M49.68M60.96M64.99M78.71M
Dividend Payout Ratio---------

Balance Sheet

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+3.15M5.48M40.03M56.39M66.07M61.28M99.81M89.9M185.1M
Cash & Short-Term Investments1.44M3.42M39.53M55.8M65.32M57.49M93.28M83.68M176.48M
Cash Only1.44M3.42M39.53M55.8M65.32M57.49M93.28M83.68M176.48M
Short-Term Investments000000000
Accounts Receivable1.24M1.62M272.56K002.99M5.02M4.06M2.72M
Days Sales Outstanding34.2181.5836.75--84.91114.9284.7670.91
Inventory00000000241K
Days Inventory Outstanding--------14.96
Other Current Assets00000-3811.51M2.16M5.67M
Total Non-Current Assets+5.34M9.36M9.39M12.46M33.46M32.45M29.39M28.43M45.21M
Property, Plant & Equipment4.35M8.24M8.13M12.08M9.45M7.43M6.25M6.18M12.48M
Fixed Asset Turnover3.04x0.88x0.33x0.67x0.08x1.73x2.55x2.83x1.12x
Goodwill00003.9M3.9M3.9M3.9M3.9M
Intangible Assets00005.53M4.39M3.73M3.43M3.16M
Long-Term Investments000000000
Other Non-Current Assets992.72K1.12M1.26M378.04K14.57M16.73M15.51M14.92M25.66M
Total Assets+8.49M14.84M49.42M68.84M99.53M93.73M129.2M118.33M230.31M
Asset Turnover1.56x0.49x0.05x0.12x0.01x0.14x0.12x0.15x0.06x
Asset Growth %-0.75%2.33%0.39%0.45%-0.06%0.38%-0.08%0.95%
Total Current Liabilities+12.09M30.52M8.25M16.87M11.74M7.33M8.8M18.55M41.78M
Accounts Payable2.41M4.42M3.24M3.5M3.73M1.07M2.2M1.4M4.69M
Days Payables Outstanding956.325.05K9.73K1.58K5.73K129.19280.48176.43291.12
Short-Term Debt2.9M15.61M316.91K5.59M0002.62M18.02M
Deferred Revenue (Current)1000K1000K1000K000000
Other Current Liabilities1.16M2.22M268.6K1.29M5.03M3.16M2.86M8.54M18.66M
Current Ratio0.26x0.18x4.85x3.34x5.63x8.36x11.34x4.85x4.43x
Quick Ratio0.26x0.18x4.85x3.34x5.63x8.36x11.34x4.85x4.42x
Cash Conversion Cycle---------205.25
Total Non-Current Liabilities+14.64M18.01M22.48M17.02M16.71M21.14M29.98M52.49M111.26M
Long-Term Debt5.22M5.56M11.63M10.29M10.29M10.41M19.88M43.42M97.37M
Capital Lease Obligations243.43K510.63K376.08K6.73M5.26M4.58M3.5M2.36M6.59M
Deferred Tax Liabilities-243.43K-510.63K-376.08K000000
Other Non-Current Liabilities456.9K6.42M2.41M01.15M6.14M6.59M6.71M7.3M
Total Liabilities26.73M48.54M30.73M33.89M28.45M28.46M38.78M71.04M153.04M
Total Debt+8.68M22.15M12.77M24.42M17.14M16.08M24.46M49.54M122.39M
Net Debt7.24M18.73M-26.76M-31.38M-48.17M-41.41M-68.82M-34.14M-54.09M
Debt / Equity--0.68x0.70x0.24x0.25x0.27x1.05x1.58x
Debt / EBITDA---------
Net Debt / EBITDA---------
Interest Coverage-184.74x-2.15x-1.84x-34.09x-68.87x-44.35x-16.58x-11.70x-9.71x
Total Equity+-18.25M-33.69M18.69M34.95M71.09M65.27M90.42M47.29M77.28M
Equity Growth %--0.85%1.55%0.87%1.03%-0.08%0.39%-0.48%0.63%
Book Value per Share-2.12-3.922.611.892.101.311.480.730.98
Total Shareholders' Equity-18.25M-33.69M18.69M34.95M71.09M65.27M90.42M47.29M77.28M
Common Stock55457015.52K28.23K43.34K52K64K69K85K
Retained Earnings-84.26M-113.41M-167.05M-215.24M-275M-309.58M-350.6M-429.1M-559.49M
Treasury Stock000000000
Accumulated OCI-6.87M-7.8M-9.3M000000
Minority Interest000000000

Cash Flow

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-13.95M-24.29M-31.83M-48.28M-54.14M-34.03M-28.59M-41.56M-93.42M
Operating CF Margin %-1.06%-3.35%-11.76%-5.98%-73.21%-2.65%-1.79%-2.38%-6.67%
Operating CF Growth %--0.74%-0.31%-0.52%-0.12%0.37%0.16%-0.45%-1.25%
Net Income-15.93M-29.15M-53.14M-47.58M-59.76M-34.58M-41.02M-78.5M-130.39M
Depreciation & Amortization651.56K931.93K1.54M2.57M3.13M5.61M3.65M2.18M2.2M
Stock-Based Compensation347.44K514.09K2.2M3.38M3.95M6.75M9.3M10.09M18.81M
Deferred Taxes0-11.88M-415.41K6.59K10.8K0000
Other Non-Cash Items391.65K14.91M17.69M300.9K235.53K566K1.64M18.8M20.76M
Working Capital Changes596.41K389.67K294.85K-6.95M-1.71M-12.38M-2.16M5.87M-4.79M
Change in Receivables2.53M-328.46K1.35B272.56K0-2.99M-2.03M956K1.34M
Change in Inventory00-1.35B-272.56K0000-241K
Change in Payables1.31M1.87M-1.28M294.51K-297.16K-7.56M814K-1.15M2.33M
Cash from Investing+-2.89M-2.54M-870.94K-1.85M247.91K-107K-587K-11.29M-8.44M
Capital Expenditures-2.89M-2.54M-870.94K-1.85M-752.09K-107K-592K-1.29M-4.95M
CapEx % of Revenue0.22%0.35%0.32%0.23%1.02%0.01%0.04%0.07%0.35%
Acquisitions---------
Investments---------
Other Investing0000000-10M-3.49M
Cash from Financing+6.11M28.81M68.82M66.39M63.42M26.32M64.96M43.25M194.66M
Debt Issued (Net)---------
Equity Issued (Net)---------
Dividends Paid000000000
Share Repurchases---------
Other Financing445.47K-1.3M-2.18M0-1.04M5.03M1.55M-363K3.61M
Net Change in Cash---------
Free Cash Flow+-16.83M-26.83M-32.7M-50.13M-54.9M-34.14M-29.18M-42.85M-98.37M
FCF Margin %-1.27%-3.7%-12.08%-6.21%-74.22%-2.66%-1.83%-2.45%-7.03%
FCF Growth %--0.59%-0.22%-0.53%-0.1%0.38%0.15%-0.47%-1.3%
FCF per Share-1.96-3.13-4.57-2.71-1.62-0.69-0.48-0.66-1.25
FCF Conversion (FCF/Net Income)0.88x0.83x0.60x1.01x0.91x0.98x0.70x0.53x0.72x
Interest Paid00000423K000
Taxes Paid000000000

Key Ratios

Metric201620172018201920202021202220232024
Return on Equity (ROE)---284.34%-177.43%-112.72%-50.72%-52.69%-114.01%-209.35%
Return on Invested Capital (ROIC)-----334.73%-108.41%-127.95%-316.75%-500.72%
Gross Margin93.05%95.59%95.52%90%67.86%76.48%82.06%83.49%58%
Net Margin-120.56%-401.68%-1962.92%-589.48%-8080.11%-269.03%-257.39%-448.89%-931.65%
Debt / Equity--0.68x0.70x0.24x0.25x0.27x1.05x1.58x
Interest Coverage-184.74x-2.15x-1.84x-34.09x-68.87x-44.35x-16.58x-11.70x-9.71x
FCF Conversion0.88x0.83x0.60x1.01x0.91x0.98x0.70x0.53x0.72x
Revenue Growth--45.08%-62.7%198.2%-90.84%1637.77%23.98%9.75%-19.97%

Revenue by Segment

201820192020
Promotion Agreement--739.63K
Promotion Agreement Growth---
Research and Development Services-200-
Research and Development Services Growth---
Non-Refundable Payments - Up-front Payments-6.73M-
Non-Refundable Payments - Up-front Payments Growth---
Non-Refundable Payments - Milestones-1.35M-
Non-Refundable Payments - Milestones Growth---
Research And Development Services1.49M--
Research And Development Services Growth---
Collaboration And Licensing Non Refundable Upfront Payments1.17M--
Collaboration And Licensing Non Refundable Upfront Payments Growth---
Collaboration And Licensing Milestones45.06K--
Collaboration And Licensing Milestones Growth---

Frequently Asked Questions

Growth & Financials

Liquidia Corporation (LQDA) reported $69.2M in revenue for fiscal year 2024. This represents a 424% increase from $13.2M in 2016.

Liquidia Corporation (LQDA) saw revenue decline by 20.0% over the past year.

Liquidia Corporation (LQDA) reported a net loss of $121.8M for fiscal year 2024.

Dividend & Returns

Liquidia Corporation (LQDA) has a return on equity (ROE) of -209.4%. Negative ROE indicates the company is unprofitable.

Liquidia Corporation (LQDA) had negative free cash flow of $107.8M in fiscal year 2024, likely due to heavy capital investments.

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