Liquidia Corporation Common Stock (LQDA)

FairStock Score: 33/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Liquidia is a $2.4 billion biopharmaceutical company with 216 employees focused on rare cardiopulmonary disease. The numbers show an extraordinary inflection: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $171.7 million and net income was $74.7 million, or $0.74 diluted EPS. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $132.9 million and net income was $52.9 million, or $0.52 diluted EPS. That compares with FY2025, the year ended 2025-12-31, revenue of $158.3 million and net loss of $68.9 million, or -$0.80 diluted EPS, and FY2024, the year ended 2024-12-31, revenue of $14.0 million and net loss of $128.3 million, or -$1.63 diluted EPS. A business that lost money for years is suddenly producing high margins and positive free cash flow—$147.7 million trailing, a 6.2% FCF yield at the 2026-10-13 close. FairStock calculations show Piotroski 7/9 and Altman Z 4.51, suggesting improving financial condition. But Graham would balk: the Graham Number is $8.31, and at $26.81 the margin of safety is -222.62%; P/B is 12.24, so little asset backing. The FairStock P/E is 19.15, EV/EBITDA 12.93, and PEG 0.14, all dependent on growth persisting. ROE of 131.82% and ROCE of 27.04% are impressive but flattered by thin equity and D/E of 0.94. The 52-week range of $21.94-$93.61 shows Mr. Market's violent mood swings. FairStock score 33/100 and Lynch category 'none'—because of losses in each of the last four years—caution against declaring a durable moat. I need proof that YUTREPIA and Remodulin revenue is repeatable, not merely one or two unusual quarters. At $26.81, the price looks fair, not Graham-cheap.

In plain English: Liquidia is a small drug company that makes medicines for rare heart and lung diseases. Its latest two quarters show a sudden move from losses to large profits, which is a strong turn, but it has only a short record of making money. At the recent price, the stock looks reasonably priced against those improved profits but not cheap when compared with its accounting value or older value benchmarks.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer