Liquidia (LQDA) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Liquidia had return on equity of -111.1% (up from -202.6%), debt-to-equity of 4.42 (up from 1.51), a current ratio of 2.01 (down from 4.43) and return on assets of -11.5% (up from -43.5%). A current ratio of 2.01 means current assets exceed current liabilities.

Liquidia Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
Forward P/E	21.74	-	-	-	-	-
P/S Ratio	18.95	71.11	47.05	25.78	19.69	172.84
P/B Ratio	67.05	12.54	17.40	4.54	3.88	1.80
Price/Tangible Book	79.18	13.76	20.59	4.96	4.44	2.07
Enterprise Value Ratios
EV/Revenue	19.21	64.79	45.47	21.16	15.98	90.89
Profitability & Returns
Return on Equity (ROE)	-111.05%	-202.56%	-114.01%	-52.69%	-50.72%	-112.72%
Return on Assets (ROA)	-11.50%	-43.49%	-37.06%	-21.74%	-21.86%	-40.30%
Return on Capital Employed (ROCE)	-26.70%	-64.30%	-73.50%	-32.20%	-39.10%	-61.80%
Leverage & Solvency Ratios
Debt/Equity	4.42	1.51	1.05	0.27	0.25	0.24
Liquidity Ratios
Current Ratio	2.01	4.43	4.85	11.34	8.36	5.63
Quick Ratio	1.80	4.29	4.73	11.17	8.26	5.57
Efficiency Ratios
Asset Turnover	0.57	0.08	0.14	0.14	0.13	0.01
Inventory Turnover	1.10	-	-	-	-	-
Yield & Distribution Ratios
Earnings Yield	-2.30%	-12.89%	-9.54%	-9.98%	-13.66%	-46.75%
FCF Yield	-1.33%	-9.88%	-5.21%	-7.10%	-13.49%	-42.94%
Buyback Yield	-9.34%	-21.10%	-6.62%	-22.71%	-46.59%	-83.35%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Liquidia Financial Ratios

What is Liquidia's return on equity?

Liquidia's return on equity (ROE) was -111.1% for fiscal 2025 (period ended Dec 31, 2025). It was -202.6% a year earlier.

What is Liquidia's debt-to-equity ratio?

Liquidia's debt-to-equity ratio was 4.42 for fiscal 2025 (period ended Dec 31, 2025). It was 1.51 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition