Last 35 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Liquidia Corporation's quarterly P/E stands at 18.1x.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -94.36 | 18.14 | 57.48 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 42.40 | 7.18 | 9.37 | 9.03 | 30.17 | 100.66 | 85.35 | 44.02 | 62.67 | 93.54 | 43.59 | 27.95 | 26.57 |
| — | -92.9% | -89.0% | -79.5% | -51.9% | +7.6% | +95.8% | +57.5% | +135.9% | +276.3% | +134.0% | +0.9% | +53.6% | |
| P/B Ratio | 145.18 | 35.14 | 77.12 | 89.03 | 70.21 | 25.27 | 12.89 | 7.09 | 14.62 | 12.89 | 16.70 | 8.57 | 8.38 |
| — | +39.1% | +498.4% | +1156.3% | +380.1% | +96.0% | -22.9% | -17.3% | +74.4% | +135.6% | +278.1% | +132.1% | +215.8% | |
| P/FCF | — | 19.02 | 20.44 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | 15.23 | 43.00 | 223.46 | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | 15.36 | 40.30 | 146.90 | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Liquidia Corporation's operating margin was 46.3% in Q1 2026, up 24.8 pp QoQ and up 1181.7 pp YoY. This marks the 6th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of -88.3% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 76.8% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.6% | 90.9% | 92.3% | 94.2% | 85.4% | 51.4% | 53.6% | 64.8% | 59.2% | 40.9% | 78.1% | 84.5% | 86.0% |
| — | +76.8% | +72.3% | +45.3% | +44.2% | +25.6% | -31.4% | -23.3% | -31.2% | -52.1% | -10.3% | +10.3% | +5.7% | |
| Operating Margin | -32.5% | 46.3% | 21.5% | 3.3% | -424.4% | -1135.4% | -1237.8% | -656.2% | -743.3% | -969.1% | -583.4% | -404.9% | -476.9% |
| — | +104.1% | +101.7% | +100.5% | +42.9% | -17.2% | -112.2% | -62.1% | -55.9% | -371.6% | -381.3% | -45.1% | -108.3% | |
| Net Margin | -43.5% | 39.8% | 15.8% | -6.5% | -470.5% | -1229.7% | -1315.4% | -520.6% | -763.7% | -1377.1% | -605.8% | -429.3% | -491.4% |
| — | +103.2% | +101.2% | +98.8% | +38.4% | +10.7% | -117.1% | -21.3% | -55.4% | -426.8% | -397.1% | -49.4% | -103.8% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -113.0% | 69.0% | 43.6% | -19.0% | -128.1% | -60.4% | -40.9% | -26.7% | -37.5% | -61.3% | -57.6% | -29.1% | -33.1% |
| — | +214.1% | +206.6% | +29.0% | -241.6% | +1.4% | +29.1% | +8.0% | -13.5% | -349.0% | -717.7% | -215.1% | -175.5% | |
| ROA | -24.7% | 14.5% | 4.8% | -1.3% | -17.2% | -16.8% | -15.9% | -10.8% | -14.9% | -25.9% | -23.9% | -13.5% | -18.8% |
| — | +186.5% | +130.4% | +87.7% | -14.9% | +35.4% | +33.5% | +20.5% | +20.5% | -185.1% | -378.3% | -102.3% | -131.1% | |
| ROIC | -102.5% | 75.2% | 25.6% | 2.5% | -80.6% | -104.6% | — | — | — | — | — | — | — |
| — | +171.9% | — | — | — | — | — | — | — | — | — | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Liquidia Corporation's Debt/EBITDA ratio is 3.0x, down from 9.8x last quarter — at a moderate level that warrants monitoring. The current ratio has weakened 24.0% YoY to 2.22x, tightening the short-term liquidity position. Debt/Equity has declined for 4 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.42 | 1.70 | 4.42 | 9.03 | 13.19 | 2.97 | 1.58 | 0.02 | 0.05 | 0.04 | 1.05 | 0.08 | 0.07 |
| — | -42.7% | +179.3% | +36995.5% | +27942.1% | +7832.6% | +51.2% | -69.0% | -29.0% | -28.3% | +287.2% | -69.7% | -72.6% | |
| Debt / EBITDA | — | 2.98 | 9.84 | 88.80 | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 1.40 | 2.22 | 1.40 | 2.20 | 2.49 | 2.93 | 4.43 | 6.33 | 6.08 | 7.66 | 4.85 | 6.83 | 4.76 |
| — | -24.0% | -68.3% | -65.2% | -59.0% | -61.8% | -8.6% | -7.3% | +27.6% | -47.6% | -57.3% | -50.6% | -70.0% | |
| Quick Ratio | 1.40 | 2.03 | 1.40 | 1.96 | 2.41 | 2.91 | 4.42 | 6.33 | 5.78 | 7.50 | 4.85 | 6.83 | 4.76 |
| — | -30.0% | -68.3% | -69.0% | -58.3% | -61.3% | -8.7% | -7.3% | +21.4% | -48.7% | -57.3% | -50.6% | -70.0% | |
| Interest Coverage | -1.85 | 9.47 | 3.11 | 0.49 | -6.35 | -7.22 | -7.79 | -6.73 | -9.75 | -15.22 | -12.99 | -7.97 | -15.49 |
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Includes 30+ ratios · 35 years · Updated daily
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Quick answers to the most common questions about buying LQDA stock.
Liquidia Corporation's current P/E is -94.4x. The average P/E over the last 2 quarters is 37.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Liquidia Corporation's current operating margin is -32.5%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Liquidia Corporation's business trajectory between earnings reports.