NASDAQ · LQDA

Liquidia Corporation

Healthcare · Medical - Pharmaceuticals

$67.85▼ 1.84% ($1.27)at close

As of 4:00 PM ET

52-week

$21.15$93.61

Market cap

$6.03B

P/E

49.64

Volume

955.02K

Shares outstanding

88.93M

What the market price implies · Reverse DCF

To support a price of $67.85, this model requires revenue to grow by 13.6%/yr over the next 10 years, compounded annually.

Historical revenue grew by 87.34%/yr over the past 4 years. The required annual growth rate is 73.75 percentage points lower.

Selected forecast · Base scenario

19.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 40%

Market-implied · Base operating assumptions + edited margins

13.6%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$67.85

Estimated value / share

$111.88

Base scenario

This estimate is 64.9% above the price used.

USD · TTM ending 2026-06-30

Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

Year 1 growth 40% · Ending margin 30% · Discount rate 7.96%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 11, 2026, 1:27 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveModerate confidence

1Y Price: 148.63%Revenue (TTM): 2,233.65%FCF (TTM): 148.81%P/S: 14th pct

What changed

The stock rose 148.63% over the last year. Revenue grew 2,233.65% over the trailing twelve months. Operating margin moved from -715.38% to 37.39%. Free cash flow grew 148.81% over the trailing twelve months.

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 14th percentile of their historical P/S range.

What would invalidate this read

Operating margin is at 37.39%. Revenue grew 2,233.65% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.

Performance

Return analysis

Company profile

Liquidia Corporation operates as a biopharmaceutical enterprise, concentrating on the development, production, and market introduction of various treatments aimed at fulfilling critical patient requirements throughout the United States.

CEORoger A. Jeffs

SectorHealthcare

IndustryMedical - Pharmaceuticals

Employees216

IPO dateJul 26, 2018

https://www.liquidia.com

Market multiples

Forward P/E—

EV/EBITDA-68.84

Enterprise value$2.98B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth1,842.73%

Gross margin92.48%▲33.6ppvs FY2024

Operating margin37.39%▲834.2ppvs FY2024

ROE131.82%▲244.8ppvs FY2025

Analyst consensus

RatingBuy

Target price$98.11▲44.60%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 2, 2026

Q4 FY26 · EPS est $0.88 · Revenue est $205.91M

View