Last 36 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -53.31 | 26.94 | 18.14 | 57.48 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 23.96 | 11.77 | 7.18 | 9.37 | 9.03 | 30.17 | 100.66 | 85.35 | 44.02 | 62.67 | 93.54 | 43.59 | 27.95 | 26.57 | 24.86 | 18.63 | 27.70 | 17.30 | 26.97 | 19.34 | 11.30 |
| — | -61.0% | -92.9% | -89.0% | -79.5% | -51.9% | +7.6% | +95.8% | +57.5% | +135.9% | +276.3% | +134.0% | +0.9% | +53.6% | -7.8% | -3.7% | +145.0% | +60.6% | +184.7% | -49.8% | — | |
| P/B Ratio | 82.02 | 41.43 | 35.14 | 77.12 | 89.03 | 70.21 | 25.27 | 12.89 | 7.09 | 14.62 | 12.89 | 16.70 | 8.57 | 8.38 | 5.47 | 4.42 | 3.69 | 2.66 | 6.80 | 3.81 | 1.97 |
| — | -41.0% | +39.1% | +498.4% | +1156.3% | +380.1% | +96.0% | -22.9% | -17.3% | +74.4% | +135.6% | +278.1% | +132.1% | +215.8% | -19.5% | +15.9% | +87.3% | +44.3% | +266.1% | +137.5% | -30.8% | |
| P/FCF | — | 29.29 | — | 20.44 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | 23.07 | 15.23 | 43.00 | 223.46 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | 22.53 | 14.93 | 40.30 | 146.90 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.6% | 93.3% | 90.9% | 92.3% | 94.2% | 85.4% | 51.4% | 53.6% | 64.8% | 59.2% | 40.9% | 78.1% | 84.5% | 86.0% | 85.4% | 87.1% | 76.6% | 81.3% | 80.1% | 77.4% | 72.0% |
| — | +9.2% | +76.8% | +72.3% | +45.3% | +44.2% | +25.6% | -31.4% | -23.3% | -31.2% | -52.1% | -10.3% | +10.3% | +5.7% | +6.6% | +12.4% | +6.4% | +3.2% | +3.4% | +14.1% | — | |
| Operating Margin | -32.5% | 49.8% | 46.3% | 21.5% | 3.3% | -424.4% | -1135.4% | -1237.8% | -656.2% | -743.3% | -969.1% | -583.4% | -404.9% | -476.9% | -205.5% | -121.2% | -279.0% | -228.9% | -414.4% | -353.4% | -222.7% |
| — | +111.7% | +104.1% | +101.7% | +100.5% | +42.9% | -17.2% | -112.2% | -62.1% | -55.9% | -371.6% | -381.3% | -45.1% | -108.3% | +50.4% | +65.7% | -25.3% | -21.6% | -42.0% | +83.6% | — | |
| Net Margin | -43.5% | 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% | -261.4% | -121.9% | -287.3% | -241.1% | -456.6% | -359.7% | -229.0% |
| — | +109.3% | +103.2% | +101.2% | +98.8% | +38.4% | +10.7% | -117.1% | -21.3% | -55.4% | -426.8% | -397.1% | -49.4% | -103.8% | +42.7% | +66.1% | -25.4% | -24.2% | -53.3% | +83.5% | — |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -113.0% | 49.2% | 69.0% | 43.6% | -19.0% | -128.1% | -60.4% | -40.9% | -26.7% | -37.5% | -61.3% | -57.6% | -29.1% | -33.1% | -13.7% | -7.0% | -9.2% | -12.0% | -26.4% | -16.7% | -9.6% |
| — | +138.4% | +214.1% | +206.6% | +29.0% | -241.6% | +1.4% | +29.1% | +8.0% | -13.5% | -349.0% | -717.7% | -215.1% | -175.5% | +48.3% | +57.9% | +3.7% | -29.9% | -92.8% | +29.1% | +76.3% | |
| ROA | -24.7% | 16.2% | 14.5% | 4.8% | -1.3% | -17.2% | -16.8% | -15.9% | -10.8% | -14.9% | -25.9% | -23.9% | -13.5% | -18.8% | -9.1% | -5.0% | -6.7% | -8.1% | -17.0% | -11.9% | -7.1% |
| — | +194.4% | +186.5% | +130.4% | +87.7% | -14.9% | +35.4% | +33.5% | +20.5% | +20.5% | -185.1% | -378.3% | -102.3% | -131.1% | +46.6% | +58.1% | +5.9% | -19.5% | -74.3% | +29.4% | +69.9% | |
| ROIC | -102.5% | 116.1% | 75.2% | 25.6% | 2.5% | -80.6% | -104.6% | — | — | — | — | — | — | — | -105.7% | -22.7% | -29.9% | -29.6% | -46.9% | -34.8% | -20.1% |
| — | +244.0% | +171.9% | — | — | — | — | — | — | — | — | — | — | — | -125.6% | +34.7% | -48.4% | -65.9% | -69.3% | +59.8% | +90.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.42 | 0.66 | 1.70 | 4.42 | 9.03 | 13.19 | 2.97 | 1.58 | 0.02 | 0.05 | 0.04 | 1.05 | 0.08 | 0.07 | 0.05 | 0.27 | 0.26 | 0.24 | 0.45 | 0.25 | 0.22 |
| — | -95.0% | -42.7% | +179.3% | +36995.5% | +27942.1% | +7832.6% | +51.2% | -69.0% | -29.0% | -28.3% | +287.2% | -69.7% | -72.6% | -88.4% | +9.8% | +16.1% | +16.5% | +70.2% | +2.2% | -23.1% | |
| Debt / EBITDA | — | 1.50 | 2.98 | 9.84 | 88.80 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 1.40 | 2.31 | 2.22 | 1.40 | 2.20 | 2.49 | 2.93 | 4.43 | 6.33 | 6.08 | 7.66 | 4.85 | 6.83 | 4.76 | 14.62 | 11.34 | 13.81 | 15.87 | 7.77 | 8.36 | 9.55 |
| — | -7.3% | -24.0% | -68.3% | -65.2% | -59.0% | -61.8% | -8.6% | -7.3% | +27.6% | -47.6% | -57.3% | -50.6% | -70.0% | +88.2% | +35.6% | +44.6% | +55.2% | +11.2% | +48.6% | +68.6% | |
| Quick Ratio | 1.40 | 2.12 | 2.03 | 1.40 | 1.96 | 2.41 | 2.91 | 4.42 | 6.33 | 5.78 | 7.50 | 4.85 | 6.83 | 4.76 | 14.62 | 11.34 | 13.81 | 15.87 | 7.77 | 8.36 | 9.55 |
| — | -12.1% | -30.0% | -68.3% | -69.0% | -58.3% | -61.3% | -8.7% | -7.3% | +21.4% | -48.7% | -57.3% | -50.6% | -70.0% | +88.2% | +35.6% | +44.6% | +55.2% | +11.2% | +48.6% | +68.6% | |
| Interest Coverage | -1.85 | 13.98 | 9.74 | 3.11 | 0.49 | -6.35 | -7.22 | -7.79 | -6.73 | -9.75 | -15.22 | -12.99 | -7.97 | -15.49 | -9.45 | -8.36 | -13.66 | -16.43 | -32.35 | -55.52 | -34.52 |
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Includes 30+ ratios · 36 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 -53.3x. The average P/E over the last 3 quarters is 34.2x. 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.