Liquidia Corp

Health Care
Biotechnology: Pharmaceutical Preparations
www.liquidia.com

Moat Score

Market Cap $844.33M
PE -7
Debt $NaN
Cash $204.37M
EV $NaN
FCF -$92.46M

Earnings

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Sales & Net Margins

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Earnings	-$119.48M
EBIT	-$111.62M
ROE	-108%
ROA	-44%
FCF	-$92.46M
Equity	$110.52M
Growth Stability	1
PE	-7.07
PB	7.64
P/FCF	-9.13
P/S	54.09
Price/Cash	0.24
Net Margins	-831%
Gross Margins	65%
Op. Margins	-715%
Sales Growth YoY	21%
Sales Growth QoQ	22%
Sales CAGR	60%
Equity CAGR	23%
Earnings Growth YoY	47%

Earnings Growth QoQ	-17%
Sales CAGR 5Y	60%
Equity CAGR 5Y	23%
Earnings CAGR 3Y	8%
Sales CAGR 3Y	8%
Equity CAGR 3Y	0%
Market Cap	$844.33M
Revenue	$15.61M
Assets	$252.89M
Cash	$204.37M
Shares Outstanding	76.69M
Moat Score	1%
Working Capital	180.37M
Current Ratio	6.33
Gross Profit	$10.09M
Shares Growth 3y	16%
Equity Growth QoQ	76%
Equity Growth YoY	130%

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-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

= -$925M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$92M	-$92M	-$92M	-$92M	-$92M	-$92M	-$92M	-$92M	-$92M	-$92M	-$92M	-$925M
DCF		-$84M	-$76M	-$69M	-$63M	-$57M	-$52M	-$47M	-$43M	-$39M	-$36M	-$356M
Value	-$925M

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	TTM
Net Margins	-589%	-8K%	-269%	-257%	-449%	-831%
ROA	-	-59%	-36%	-30%	-62%	-44%
ROE	-	-84%	-53%	-45%	-166%	-108%

Bad Net Margins (-830.63%)

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	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	CAGR 5Y
Revenue YoY growth	-	-91%	2K%	24%	10%	60%
Earnings YoY growth	-	26%	-42%	19%	91%	-
Equity YoY growth	-	103%	-8%	39%	-48%	23%
FCF YoY growth	-	10%	-38%	-15%	47%	-