📊 LQDA Key Takeaways
Is Liquidia Corp (LQDA) a Good Investment?
Liquidia exhibits exceptional profitability with 46.3% operating margins and 39.8% net margins, coupled with robust free cash flow generation of 50.2M (37.8% FCF margin) and a fortress balance sheet featuring 222.8M in cash and minimal leverage (0.18x D/E). However, the extraordinary 1031% revenue growth requires validation of sustainability, particularly given the significant divergence between revenue growth and 50.9% EPS growth, suggesting potential one-time revenues or substantial dilution.
Liquidia exhibits a major revenue inflection and a strong cash position that can support commercialization and pipeline execution. However, profitability remains weak with sizable operating losses and negative free cash flow, and the quality/sustainability of growth is uncertain given missing gross margin detail and potential one-time revenue.
Liquidia Corp Key Strengths (LQDA)
- Exceptional profitability with 46.3% operating margin and 39.8% net margin indicating strong product pricing power and operational efficiency
- Fortress balance sheet with 222.8M cash, 0.18x debt-to-equity ratio, and 2.22x current ratio providing substantial financial flexibility and runway
- Strong free cash flow generation of 50.2M with 37.8% FCF margin demonstrating ability to fund operations and growth organically
- Solid liquidity metrics and interest coverage of 7.6x with manageable 19.9M long-term debt load
- Positive returns with 48.7% ROE and 13.2% ROA reflecting efficient capital deployment
- Rapid revenue growth to $158.3M (+1031% YoY)
- Strong liquidity with $190.7M cash and 2.0x current ratio
- Low long-term debt and moderate leverage (Debt/Equity 0.44x)
LQDA Stock Risks: Liquidia Corp Investment Risks
- Unsustainable revenue growth of 1031% YoY likely from product launch/acquisition requiring validation of repeatability and underlying drivers
- Critical disconnect between 1031% revenue growth and 50.9% EPS growth indicating significant share dilution, one-time items, or unusual revenue recognition
- Gross margin marked as N/A suggesting data gaps or unusual revenue structure; pharmaceutical product margins are material to sustainability assessment
- Pharmaceutical sector inherent risks including regulatory approval uncertainty, clinical trial failures, and patent/exclusivity cliff risk not reflected in current financials
- High insider activity (30 Form 4 filings in 90 days) lacks directional context on whether insiders are buying or selling
- Persistent losses and negative margins (operating -32.5%, net -43.5%)
- Negative operating and free cash flow implying ongoing burn
- Growth quality unclear (no gross margin; potential one-off revenue; low equity vs liabilities)
Key Metrics to Watch
- Sequential revenue trends in next 2-3 quarters to confirm sustainability of growth trajectory beyond the 1031% expansion
- Gross margin realization and product-level profitability breakdown as fundamental to long-term margin sustainability
- Operating cash flow stability and free cash flow conversion rates to validate quality of earnings
- Share dilution trend and fully diluted share count changes explaining EPS growth divergence from revenue growth
- Pipeline advancement metrics and clinical trial status for product candidates driving pharmaceutical revenue base
- Recurring product revenue (vs. one-time/licensing)
- Operating cash flow and burn rate
Liquidia Corp (LQDA) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The 37.8% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. Strong liquidity with a 2.22x current ratio provides a solid financial cushion.
LQDA Profit Margin, ROE & Profitability Analysis
LQDA vs Healthcare Sector: How Liquidia Corp Compares
How Liquidia Corp compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Liquidia Corp Stock Overvalued? LQDA Valuation Analysis 2026
Based on fundamental analysis, Liquidia Corp appears fundamentally strong relative to the Healthcare sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Liquidia Corp Balance Sheet: LQDA Debt, Cash & Liquidity
LQDA Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Liquidia Corp's revenue has grown significantly by 1,132% over the 5-year period, indicating strong business expansion. The most recent EPS of $-1.21 indicates the company is currently unprofitable.
LQDA Revenue Growth, EPS Growth & YoY Performance
LQDA Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $3.1M | -$38.4M | $-0.45 |
| Q3 2025 | $4.4M | -$3.5M | $-0.04 |
| Q2 2025 | $3.7M | -$28.7M | $-0.38 |
| Q1 2025 | $3.0M | -$30.1M | $-0.40 |
| Q3 2024 | $3.7M | -$11.7M | $-0.24 |
| Q2 2024 | $3.7M | -$11.7M | $-0.36 |
| Q1 2024 | $3.0M | -$11.7M | $-0.18 |
| Q3 2023 | $3.2M | -$9.1M | $-0.14 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Liquidia Corp Dividends, Buybacks & Capital Allocation
LQDA SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Liquidia Corp (CIK: 0001819576)
📋 Recent SEC Filings
❓ Frequently Asked Questions about LQDA
What is the AI rating for LQDA?
Liquidia Corp (LQDA) has a Combined AI Grade of A from Claude (A) and ChatGPT (B) with 68% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are LQDA's key strengths?
Claude: Exceptional profitability with 46.3% operating margin and 39.8% net margin indicating strong product pricing power and operational efficiency. Fortress balance sheet with 222.8M cash, 0.18x debt-to-equity ratio, and 2.22x current ratio providing substantial financial flexibility and runway. ChatGPT: Rapid revenue growth to $158.3M (+1031% YoY). Strong liquidity with $190.7M cash and 2.0x current ratio.
What are the risks of investing in LQDA?
Claude: Unsustainable revenue growth of 1031% YoY likely from product launch/acquisition requiring validation of repeatability and underlying drivers. Critical disconnect between 1031% revenue growth and 50.9% EPS growth indicating significant share dilution, one-time items, or unusual revenue recognition. ChatGPT: Persistent losses and negative margins (operating -32.5%, net -43.5%). Negative operating and free cash flow implying ongoing burn.
What is LQDA's revenue and growth?
Liquidia Corp reported revenue of $132.9M.
Does LQDA pay dividends?
Liquidia Corp does not currently pay dividends.
Where can I find LQDA SEC filings?
Official SEC filings for Liquidia Corp (CIK: 0001819576) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is LQDA's EPS?
Liquidia Corp has a diluted EPS of $0.52.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is LQDA's fundamental grade?
Based on our AI fundamental analysis in May 2026, Liquidia Corp has a A grade with 68% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is LQDA stock overvalued or undervalued?
Valuation metrics for LQDA: ROE of 48.7% (sector avg: 15%), net margin of 39.8% (sector avg: 12%). Higher ROE suggests strong returns relative to peers.
What is LQDA's AI grade for 2026?
Our dual AI analysis gives Liquidia Corp a combined A grade for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is LQDA's free cash flow?
Liquidia Corp's operating cash flow is $53.0M, with capital expenditures of $2.8M. FCF margin is 37.8%.
How does LQDA compare to other Healthcare stocks?
Vs Healthcare sector averages: Net margin 39.8% (avg: 12%), ROE 48.7% (avg: 15%), current ratio 2.22 (avg: 2).
Why is LQDA's return on equity (ROE) so high?
Liquidia Corp has a return on equity of 48.7%, significantly above the Healthcare sector average of 15%. A high ROE indicates the company is efficient at generating profits from shareholder equity. This is supported by a 39.8% net margin.