Stocks · Healthcare · Medical - Pharmaceuticals
Liquidia Corporation LQDA
$27.64 -3.49% Close, Oct 5, 2026 · NASDAQ · Market cap $2.55B
Strong growthHigh qualityInexpensive vs sector
Next earnings report: Nov 2, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Revenue over the last four quarters was $450.9M, up 2233.6% from a year earlier, accelerating from 1936.7% a quarter earlier.
- Operating margin widened to 37.4% from -715.4% a year earlier.
- The diluted share count rose 18.5% in a year.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
Growth99Exceptional
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 2%
- Revenue growth, 3-year CAGRTop 7%
- Revenue growth accelerationTop 2%
Quality87Strong
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 2%
- Gross marginTop 17%
- Operating marginTop 4%
- Cash conversion (OCF / net income)Bottom 15%
- Accruals (lower is better)Bottom 7%
- Net debt / EBITDA (lower is better)Top 20%
- Interest coverTop 22%
Value83Strong
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 10%
- Free-cash-flow yieldTop 28%
- EBITDA / enterprise valueTop 15%
- Sales / enterprise valueBottom 45%
Momentum41Weak
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 6%
- 6-month returnBottom 19%
- 1-year return vs S&P 500Top 39%
- Distance from 52-week highBottom 8%
- Trend checklist (0–4)Bottom 36%
Revisions98Exceptional
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 11%
- Consecutive EPS beatsTop 19%
- Share of analysts rating BuyTop 34%
- Upside to consensus price targetTop 19%
Stability36Weak
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 2%
- Maximum drawdown, 3 yearsTop 49%
- Beta vs S&P 500 (lower is better)Bottom 28%
- Net debt / EBITDA (lower is better)Top 20%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 1936.7% | 2233.6% | ↑ |
| Gross margin | 70.4% | 92.5% | ↑ |
| Operating margin | -715.4% | 37.4% | ↑ |
| FCF margin | -641.6% | 13.4% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 2233.6% | 1936.7% | ↑ | Top 2% |
| Gross margin | 92.5% | 70.4% | ↑ | Top 17% |
| Operating margin | 37.4% | -715.4% | ↑ | Top 4% |
| Net margin | 30.7% | -732.2% | ↑ | — |
| Free-cash-flow margin | 13.4% | -641.6% | ↑ | — |
| Return on invested capital | 46.9% | — | Top 2% | |
| Revenue growth, 3-year CAGR | 115.0% | — | Top 7% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 0.57×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- 11.4%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 12.2%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -1244.3 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- -0.87×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 6.3×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -0.38%
- Shareholder yield
- -0.38%
- Share count change, 1 year
- +18.5%
- Share count change, 3-year CAGR
- +16.1%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 12, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 4
- Beats in the last 8 reports
- 4 of 8
- Average EPS surprise, last 4
- +59.3%
- Average 2-day reaction, last 8
- +3.7%
- Positive 20 days after report
- 6 of 8
Analysts
- Consensus price target
- $83.20
- Target vs current price
- +201.0%
- Analysts with a rating
- 7
- Share rating Buy or Strong Buy
- 86%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 12, 2026 | +5.7% | -10.5% | -15.6% | -21.5% | — |
| May 11, 2026 | +52.9% | +25.6% | +34.6% | +51.1% | +110.7% |
| Mar 5, 2026 | +87.5% | +0.4% | +12.2% | +9.0% | +79.9% |
| Nov 3, 2025 | +91.1% | +3.5% | +7.1% | +31.6% | +76.8% |
| Aug 12, 2025 | -14.0% | +13.7% | +30.8% | +31.1% | +31.7% |
| May 8, 2025 | -7.1% | -1.2% | +20.1% | +16.0% | +25.4% |
| Mar 19, 2025 | -21.1% | +1.2% | +5.8% | -7.7% | -2.0% |
| Nov 13, 2024 | +0.0% | -3.4% | -4.4% | +2.9% | +53.0% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 12, 2026 | $0.74 | $0.70 | +5.7% | $171.7M |
| May 11, 2026 | $0.52 | $0.34 | +52.9% | $132.9M |
| Mar 5, 2026 | $0.15 | $0.08 | +87.5% | $92.0M |
| Nov 3, 2025 | -$0.04 | -$0.45 | +91.1% | $54.3M |
| Aug 12, 2025 | -$0.49 | -$0.43 | -14.0% | $8.8M |
| May 8, 2025 | -$0.45 | -$0.42 | -7.1% | $3.1M |
| Mar 19, 2025 | -$0.46 | -$0.38 | -21.1% | $2.9M |
| Nov 13, 2024 | -$0.37 | -$0.37 | +0.0% | $4.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 20.2× | — | — | Top 10% |
| P/E (forward) | 11.1× | — | — | — |
| EV / EBITDA | 13.4× | — | — | Top 15% |
| EV / Sales | 5.30× | — | — | Bottom 45% |
| Free-cash-flow yield | 2.38% | — | — | Top 28% |
| Earnings yield | 4.95% | — | — | Top 10% |
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -9.8%
- 200-day average slope (20 days)
- +5.5%
- Distance from 50-day average
- -61.0%
- Distance from 200-day average
- -49.0%
- RSI (14)
- 20.0
- Relative volume
- 2.09×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 184.3%
- Volatility vs own 5-year history
- 100th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.62
- Correlation with S&P 500
- 0.30
- Current drawdown from 1-year high
- -69.6%
- Maximum drawdown, 3 years
- -69.6%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Aug 10, 2026 | Oct 5, 2026 | -69.6% | 39 days | Not yet recovered |
| Oct 12, 2020 | Aug 4, 2021 | -60.6% | 204 days | 107 days (Jan 5, 2022) |
| Apr 6, 2022 | May 24, 2022 | -55.4% | 33 days | 56 days (Aug 15, 2022) |
| Mar 22, 2024 | Sep 10, 2024 | -46.8% | 117 days | 169 days (May 14, 2025) |
| Aug 15, 2022 | Nov 17, 2022 | -44.2% | 67 days | 126 days (May 22, 2023) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $2.55B
- P/E (TTM)
- 20.2
- EPS, diluted (TTM)
- $1.37
- Revenue (TTM)
- $450.9M
- 52-week range
- $21.91 – $93.61
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $12.9M | $15.9M | $17.5M | $14.0M | $158.3M |
| Gross profit | $9.8M | $13.1M | $14.6M | $8.1M | $145.1M |
| Operating income | -$33.8M | -$38.8M | -$73.4M | -$121.3M | -$51.4M |
| Net income | -$34.6M | -$41.0M | -$78.5M | -$130.4M | -$68.9M |
| EPS (diluted) | -$0.70 | -$0.67 | -$1.21 | -$1.66 | -$0.80 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.4M | $2.9M | $3.1M | $8.8M | $54.3M | $92.0M | $132.9M | $171.7M |
| Net income | -$23.2M | -$38.4M | -$38.4M | -$41.6M | -$3.5M | $14.6M | $52.9M | $74.7M |
| EPS (diluted) | -$0.30 | -$0.45 | -$0.45 | -$0.49 | -$0.04 | $0.15 | $0.52 | $0.74 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$34.0M | -$28.6M | -$41.6M | -$93.4M | -$35.7M |
| Capital expenditure | -$107,000 | -$592,000 | -$1.3M | -$4.9M | -$4.3M |
| Free cash flow | -$34.1M | -$29.2M | -$42.9M | -$98.4M | -$40.0M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $21.7M | $54.5M | $24.2M | $138.6M | $4.8M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $284.2M
- Total assets
- $521.9M
- Total liabilities
- $326.8M
- Total debt
- $128.9M
- Net debt
- -$155.2M
- Shareholders’ equity
- $195.1M
As of Jun 30, 2026 (filed Aug 12, 2026).
Short interest
- Shares sold short
- 12,377,976
- Days to cover
- 11.45
- Change vs previous report
- +4.4%
FINRA short interest, settlement date Sep 15, 2026.