Liquidia Corp

Health Care
Biotechnology: Pharmaceutical Preparations
www.liquidia.com

Moat Score

Market Cap $1.23B
PE -9
Debt -
Cash $176.48M
EV -
FCF -$98.37M

Earnings

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Sales & Net Margins

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Earnings	-$130.39M
EBIT	-$121.29M
ROE	-169%
ROA	-53%
FCF	-$98.37M
Equity	$77.28M
Growth Stability	1
PE	-9.42
PB	15.9
P/FCF	-12.49
P/S	87.78
Price/Cash	0.14
Net Margins	-932%
Gross Margins	58%
Op. Margins	-867%
Sales Growth YoY	-36%
Sales Growth QoQ	-34%
Sales CAGR	51%
Equity CAGR	21%
Earnings Growth YoY	40%

Earnings Growth QoQ	66%
Sales CAGR 5Y	52%
Equity CAGR 5Y	21%
Earnings CAGR 3Y	3%
Sales CAGR 3Y	3%
Equity CAGR 3Y	-1%
Market Cap	$1.23B
Revenue	$14.00M
Assets	$230.31M
Cash	$176.48M
Shares Outstanding	78.55M
Moat Score	0%
Working Capital	143.32M
Current Ratio	4.43
Gross Profit	$8.12M
Shares Growth 3y	15%
Equity Growth QoQ	-30%
Equity Growth YoY	63%

Assets & ROA

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Stockholders Equity & ROE

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Liquidia Corp is a United States-based biopharmaceutical company focused on the development, manufacturing, and commercialization of products that address unmet patient needs, with the current focus directed towards the treatment of pulmonary hypertension (PH). It conducts research, development, and manufacturing of novel products by applying its proprietary PRINT technology, a particle engineering platform, to enable the precise production of uniform drug particles designed to improve the safety, efficacy, and performance of a wide range of therapies. Its product includes YUTREPIA (treprostinil) inhalation powder, for the treatment of pulmonary arterial hypertension.

SEC Filings

Direct access to Liquidia Corp (LQDA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Liquidia Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Liquidia Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Liquidia Corp Discounted Cash Flow

Fully customizable DCF calculator online for Liquidia Corp.

Years

Calculation mode

= -$984M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$98M	-$98M	-$98M	-$98M	-$98M	-$98M	-$98M	-$98M	-$98M	-$98M	-$98M	-$984M
DCF		-$89M	-$81M	-$74M	-$67M	-$61M	-$56M	-$50M	-$46M	-$42M	-$38M	-$379M
Value	-$984M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-589%	-8K%	-269%	-257%	-449%	-932%	-932%
ROA	-	-59%	-36%	-30%	-62%	-53%	-53%
ROE	-	-84%	-53%	-45%	-166%	-169%	-169%

Bad Net Margins (-931.65%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-0.19	-0.3	-0.68	-	-	-
Debt over Equity	0.45	0.14	0.16	0.22	-	-	-
Growth Stability	-	-	-	-	-	-	1

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-91%	2K%	24%	10%	-20%	52%
Earnings YoY growth	-	26%	-42%	19%	91%	66%	-
Equity YoY growth	-	103%	-8%	39%	-48%	63%	21%
FCF YoY growth	-	10%	-38%	-15%	47%	130%	-