Last 33 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -18.69 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 192.42 | 9.03 | 30.17 | 100.66 | 85.35 | 44.02 | 62.67 | 93.54 | 46.59 | 27.95 | 26.57 | 24.86 | 18.63 |
| — | -79.5% | -51.9% | +7.6% | +83.2% | +57.5% | +135.9% | +276.3% | +150.1% | +0.9% | +53.6% | -7.8% | -3.7% | |
| P/B Ratio | 31.59 | 89.03 | 70.21 | 25.27 | 12.89 | 7.09 | 14.62 | 12.89 | 17.86 | 8.57 | 8.38 | 5.47 | 4.42 |
| — | +1156.3% | +380.1% | +96.0% | -27.8% | -17.3% | +74.4% | +135.6% | +304.2% | +132.1% | +215.8% | -19.5% | +15.9% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | 223.46 | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | 146.90 | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Liquidia Corporation's operating margin was 3.3% in Q3 2025, up 427.7 pp QoQ and up 659.5 pp YoY. This marks the 4th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of -698.6% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 45.3% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.0% | 94.2% | 85.4% | 51.4% | 53.6% | 64.8% | 59.2% | 40.9% | 78.1% | 84.5% | 86.0% | 85.4% | 87.1% |
| — | +45.3% | +44.2% | +25.6% | -31.4% | -23.3% | -31.2% | -52.1% | -10.3% | +10.3% | +5.7% | +6.6% | +12.4% | |
| Operating Margin | -866.6% | 3.3% | -424.4% | -1135.4% | -1237.8% | -656.2% | -743.3% | -969.1% | -583.4% | -404.9% | -476.9% | -205.5% | -121.2% |
| — | +100.5% | +42.9% | -17.2% | -112.2% | -62.1% | -55.9% | -371.6% | -381.3% | -45.1% | -108.3% | +50.4% | +65.7% | |
| Net Margin | -931.7% | -6.5% | -470.5% | -1229.7% | -1315.4% | -520.6% | -763.7% | -1377.1% | -605.8% | -429.3% | -491.4% | -261.4% | -121.9% |
| — | +98.8% | +38.4% | +10.7% | -117.1% | -21.3% | -55.4% | -426.8% | -397.1% | -49.4% | -103.8% | +42.7% | +66.1% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -209.4% | -19.0% | -128.1% | -60.4% | -40.9% | -26.7% | -37.5% | -61.3% | -57.6% | -29.1% | -33.1% | -13.7% | -7.0% |
| — | +29.0% | -241.6% | +1.4% | +29.1% | +8.0% | -13.5% | -349.0% | -717.7% | -215.1% | -175.5% | +48.3% | +57.9% | |
| ROA | -74.8% | -1.3% | -17.2% | -16.8% | -15.9% | -10.8% | -14.9% | -25.9% | -23.9% | -13.5% | -18.8% | -9.1% | -5.0% |
| — | +87.7% | -14.9% | +35.4% | +33.5% | +20.5% | +20.5% | -185.1% | -378.3% | -102.3% | -131.1% | +46.6% | +58.1% | |
| ROIC | -500.7% | 2.5% | -80.6% | -104.6% | — | — | — | — | — | — | — | -105.7% | -22.7% |
| — | — | — | — | — | — | — | — | — | — | — | -125.6% | +34.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Liquidia Corporation's Debt/EBITDA ratio is 88.8x — elevated, raising questions about debt serviceability. The current ratio has weakened 65.2% YoY to 2.20x, tightening the short-term liquidity position.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.58 | 9.03 | 13.19 | 2.97 | 1.58 | 0.02 | 0.05 | 0.04 | 1.05 | 0.08 | 0.07 | 0.05 | 0.27 |
| — | +36995.5% | +27942.1% | +7832.6% | +51.2% | -69.0% | -29.0% | -28.3% | +287.2% | -69.7% | -72.6% | -88.4% | +9.8% | |
| Debt / EBITDA | — | 88.80 | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 4.43 | 2.20 | 2.49 | 2.93 | 4.43 | 6.33 | 6.08 | 7.66 | 4.85 | 6.83 | 4.76 | 14.62 | 11.34 |
| — | -65.2% | -59.0% | -61.8% | -8.6% | -7.3% | +27.6% | -47.6% | -57.3% | -50.6% | -70.0% | +88.2% | +35.6% | |
| Quick Ratio | 4.42 | 1.96 | 2.41 | 2.91 | 4.42 | 6.33 | 5.78 | 7.50 | 4.85 | 6.83 | 4.76 | 14.62 | 11.34 |
| — | -69.0% | -58.3% | -61.3% | -8.7% | -7.3% | +21.4% | -48.7% | -57.3% | -50.6% | -70.0% | +88.2% | +35.6% | |
| Interest Coverage | -9.71 | 0.25 | -6.63 | -7.59 | -8.27 | -9.74 | -10.46 | -11.41 | -13.47 | -8.46 | -16.01 | -8.21 | -9.31 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 33 years · Updated daily
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Start ComparisonLiquidia Corporation's current P/E is -18.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Liquidia Corporation's current operating margin is -866.6%. 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.