Liquidia Corporation Financial Ratios — LT4 Stock

Profitability (USD)

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	-177.43	-112.72	-50.72	-52.69	-114.01	-202.56	-111.05
Return on Assets (%)	- -	-249.93	-165.37	-80.47	-70.99	-35.78	-36.8	-63.43	-73.59	-24.69
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	93.05	95.59	95.52	90	67.86	76.48	82.06	83.49	58	91.64
EBITDA Margin (%)	-115.09	-373.32	-1,231.05	-548.26	-7,565.9	-219.29	-220.41	-407.17	-850.94	-31.49
Operating Margin (%)	-120.02	-386.16	-1,288.08	-580.07	-7,989.03	-262.95	-243.3	-419.62	-866.63	-32.45
Incremental Operating Margin (%)	- -	204.16	150.29	- -	167.28	208.8	- -	- -	1,371.99	48.45
Pretax Margin (%)	-120.56	-401.68	-1,962.92	-589.48	-8,080.11	-269.03	-257.39	-448.89	-916.63	-43.53
Profit Margin (%)	-120.56	-401.68	-1,962.92	-589.48	-8,080.11	-269.03	-257.39	-448.89	-916.63	-43.53
Net Income to Common Margin (%)	-120.56	-401.68	-1,962.92	-589.48	-8,080.11	-269.03	-257.39	-448.89	-916.63	-43.53
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	-177.43	-112.72	-50.72	-52.69	-114.01	-202.56	-111.05

Credit (USD)

Credit Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	9	22	13	24	17	16	24	50	120	198
ST Debt	3	16	1	7	2	1	1	4	18	59
LT Debt	5	6	12	17	16	15	23	46	102	139
Total Debt/EBITDA	-0.57	-0.82	-0.38	-0.55	-0.31	-0.57	-0.7	-0.7	-1.01	-3.97
Net Debt/EBITDA	-0.44	-0.65	0.83	0.9	0.98	1.67	2.09	0.53	0.53	-0.01
Total Debt/EBIT	-0.55	-0.79	-0.37	-0.52	-0.29	-0.48	-0.63	-0.68	-0.99	-3.85
Net Debt/EBIT	-0.42	-0.63	0.79	0.85	0.93	1.39	1.89	0.51	0.52	-0.01
EBITDA to Interest Expense	-177.15	-2.08	-1.76	-32.22	-65.22	-36.99	-15.02	-11.35	-8.13	-2.06
EBITDA-CapEx/Interest Expense	-210.75	-2.28	-1.8	-33.57	-66.1	-37.13	-15.28	-13.15	-8.71	-2.32
EBIT to Interest Expense	-184.74	-2.15	-1.84	-34.09	-68.87	-44.35	-16.58	-11.7	-8.28	-2.13
Interest Expense	- -	13	19	1	1	1	2	6	15	24
Common Equity/Total Assets	-215.5	-227.27	37.82	50.76	71.42	69.63	69.99	39.97	34.47	13.65
Long-Term Debt/Equity (%)	- -	- -	64.23	48.7	21.88	22.97	25.86	96.81	128.32	310.7
Long-Term Debt/Capital (%)	-57.08	-52.55	38.15	28.67	17.63	18.43	20.35	47.28	51.01	57.29
Long-Term Debt/Total Assets (%)	64.33	40.88	24.29	24.72	15.63	16	18.1	38.69	44.22	42.4
Total Debt/Equity (%)	-47.58	-65.73	68.35	69.87	24.11	24.64	27.05	104.74	151.54	442.31
Total Debt/Capital (%)	-90.78	-191.79	40.6	41.13	19.43	19.77	21.29	51.16	60.24	81.56
Total Debt/Total Assets (%)	102.3	149.19	25.85	35.47	17.22	17.16	18.93	41.86	52.23	60.36
Net Debt to Equity	-36.58	-52.67	-147.64	-114.22	-77.41	-72.14	-81.18	-79.6	-79.61	1.48
Net Debt/Capital (%)	-60.67	-118.58	341.72	-1,118.9	-240.16	-197.41	-339.8	-286.28	-272.56	1.27
EBITDA	-15	-27	-33	-44	-56	-28	-35	-71	-119	-50
EBITDA-CapEx	-18	-30	-34	-46	-57	-28	-36	-82	-128	-56
Operating Income (Loss)	-16	-28	-35	-47	-59	-34	-39	-73	-121	-51

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.12	0.11	4.79	3.31	5.56	7.85	10.6	4.51	4.22	1.4
Current Ratio	0.26	0.18	4.85	3.34	5.63	8.36	11.34	4.85	4.43	2.01
Quick Ratio	0.22	0.17	4.83	3.31	5.56	8.25	11.17	4.73	4.29	1.8
CFO/Avg Current Liab	- -	-1.14	-1.64	-3.84	-3.78	-3.57	-3.55	-3.04	-3.1	-0.4
Common Equity/Total Assets	-215.5	-227.27	37.82	50.76	71.42	69.63	69.99	39.97	34.47	13.65
Long-Term Debt/Equity (%)	- -	- -	64.23	48.7	21.88	22.97	25.86	96.81	128.32	310.7
Long-Term Debt/Capital (%)	-57.08	-52.55	38.15	28.67	17.63	18.43	20.35	47.28	51.01	57.29
Long-Term Debt/Total Assets (%)	64.33	40.88	24.29	24.72	15.63	16	18.1	38.69	44.22	42.4
Total Debt/Equity (%)	-47.58	-65.73	68.35	69.87	24.11	24.64	27.05	104.74	151.54	442.31
Total Debt/Capital (%)	-90.78	-191.79	40.6	41.13	19.43	19.77	21.29	51.16	60.24	81.56
Total Debt/Total Assets (%)	102.3	149.19	25.85	35.47	17.22	17.16	18.93	41.86	52.23	60.36
CFO/Total Liabilities	-52.17	-50.05	-103.58	-142.45	-190.34	-119.57	-73.73	-58.51	-61.9	-12.6
CFO/CapEx	-4.83	-9.55	-36.55	-26.1	-71.99	-318.08	-48.29	-3.68	-11.06	-5.63
Altman's Z-Score	-13.09	-13.5	1.33	-3.34	-3.16	-0.21	2.4	0.27	-0.54	4.19

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	5.24	2.86	59.23	- -	8.6	3.98	3.85	4.13	5.57
Days Sales Outstanding	- -	69.69	127.74	6.16	- -	42.46	91.7	94.74	88.41	65.49
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	48.79	1.1
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	7.48	331.36
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	2.01	8.8
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	181.46	41.49
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	-85.57	355.36
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	80.93	-265.87
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	24
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	24

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	298	401	387	140	120	250	418	821	984	3,039
- Cash & Cash Equivalents	1	3	40	56	65	57	93	84	176	191
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	9	22	13	24	17	16	24	50	120	198
Enterprise Value	305	420	360	108	72	208	349	787	928	3,046
Total Capital	-10	-12	31	59	88	81	115	97	200	243
Total Debt/Capital (%)	-90.78	-191.79	40.6	41.13	19.43	19.77	21.29	51.16	60.24	81.56
Total Debt / EV	0.03	0.05	0.04	0.23	0.24	0.08	0.07	0.06	0.13	0.06
EV/Sales	23.08	57.85	133.16	13.43	97.78	16.19	21.88	45.01	66.28	19.24
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	100	228	179	92	94	237	395	778	914	2,999
Diluted Enterprise Value	108	247	152	60	46	196	326	744	858	3,006
EV per Share	20.18	27.78	23.23	3.84	1.67	3.98	5.41	11.47	10.95	34.93
TTM Sales	13	7	3	8	1	13	16	17	14	158
TTM EBITDA	-15	-27	-33	-44	-56	-28	-35	-71	-119	-50
TTM Operating Income	-16	-28	-35	-47	-59	-34	-39	-73	-121	-51
TTM Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Multiples (USD)

Valuation Multiples API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	-5.95	-8.49	-5.47	-1.83	-1.72	-6.94	-13.52	-14.71	-8.98	-71.37
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	305	420	360	108	72	208	349	787	928	3,046
Low Price	13.18	19.79	10.98	3.07	2.59	2.27	3.36	5.72	8.31	11.17
EV/Sales	23.08	57.85	133.16	13.43	97.78	16.19	21.88	45.01	66.28	19.24
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	-16.28	-11.89	20.72	4	1.7	3.82	4.62	17.36	12.39	67.91
Price/Book Value Average	-15.77	-11	19.93	7.13	3.36	2.46	3.99	10.51	13.05	38.51
Price/Book Value High	-18.95	-13.2	31.04	17.63	7.32	4.32	6.15	17.79	18.13	70.53
Price/Book Value Low	-10.89	-8.87	9.12	2.48	1.58	1.82	2.4	8.29	8.87	21.77
Price/Tangible Book Value	-16.28	-11.89	20.72	4	1.95	4.38	5.04	20.55	13.6	80.2
Price/Tangible Book Value Average	-15.77	-11	19.93	7.13	3.88	2.82	4.36	12.44	14.33	45.48
Price/Tangible Book Value High	-18.95	-13.2	31.04	17.63	8.44	4.95	6.72	21.05	19.9	83.29
Price/Tangible Book Value Low	-10.89	-8.87	9.12	2.48	1.82	2.08	2.62	9.82	9.74	25.71
Price/Sales	7.58	31.4	66.03	11.34	127.4	18.44	24.76	44.47	65.33	18.94
Price/Sales Average	7.35	29.05	63.51	20.2	252.7	11.88	21.41	26.92	68.81	10.74
Price/Sales High	8.83	34.86	98.9	49.96	550.17	20.84	32.97	45.56	95.58	19.67
Price/Sales Low	5.07	23.41	29.06	7.03	118.69	8.76	12.87	21.24	46.76	6.07
Price/Cash Flow	-7.19	-9.38	-5.62	-1.9	-1.74	-6.96	-13.8	-18.71	-9.79	-84.04
Price/Cash Flow Average	-6.96	-8.68	-5.4	-3.38	-3.45	-4.49	-11.93	-11.33	-10.31	-47.65
Price/Cash Flow High	-8.37	-10.42	-8.41	-8.35	-7.52	-7.87	-18.38	-19.17	-14.32	-87.28
Price/Cash Flow Low	-4.81	-6.99	-2.47	-1.18	-1.62	-3.31	-7.17	-8.94	-7.01	-26.94
Price/Free Cash Flow Average	-5.77	-7.86	-5.26	-3.25	-3.4	-4.47	-11.69	-8.91	-9.45	-40.47
Price/Free Cash Flow High	-6.93	-9.43	-8.19	-8.05	-7.41	-7.85	-18	-15.08	-13.13	-74.12
Price/Free Cash Flow Low	-3.98	-6.33	-2.41	-1.13	-1.6	-3.3	-7.03	-7.03	-6.42	-22.88
EV/Sales Average	22.37	53.72	127.7	26.97	258.02	9.29	18.34	26.48	70.02	10.93
EV/Sales High	26.78	63.95	204.37	72.43	638.42	18.71	30.57	46.16	98.82	19.98
EV/Sales Low	15.63	43.79	53.07	6.85	86.64	6	9.3	20.48	46.29	6.2
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	19.7	26.54	24.95	4.95	2.78	4.77	6.47	11.97	11.62	34.85
High Price	22.93	29.46	37.37	21.82	12.01	5.39	8.62	12.26	17	36.19
Enterprise Value Average	296	390	346	218	191	119	292	463	980	1,730
Enterprise Value High	354	464	553	585	472	241	487	807	1,383	3,163
Enterprise Value Low	207	318	144	55	64	77	148	358	648	981

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	15	15	16	28	43	52	65	69	85	87
Diluted Weighted Avg Shares	5	9	7	18	34	50	61	65	79	86
Basic Weighted Avg Shares	5	9	7	18	34	50	61	65	79	86
Revenue per Share	2.6	0.85	0.38	0.44	0.02	0.26	0.26	0.27	0.18	1.84
EBITDA per Share	-2.99	-3.16	-4.65	-2.39	-1.65	-0.57	-0.58	-1.1	-1.51	-0.58
Operating Income per Share	-3.12	-3.26	-4.87	-2.53	-1.74	-0.68	-0.64	-1.13	-1.54	-0.6
Basic EPS, GAAP	-3.13	-3.4	-7.42	-2.57	-1.76	-0.7	-0.67	-1.21	-1.63	-0.8
Basic EPS from Cont Ops	-3.13	-3.4	-7.42	-2.57	-1.76	-0.7	-0.67	-1.21	-1.63	-0.8
Diluted EPS, GAAP	-3.13	-3.4	-7.42	-2.57	-1.76	-0.7	-0.67	-1.21	-1.63	-0.8
Diluted EPS from Cont Ops	-3.13	-3.4	-7.42	-2.57	-1.76	-0.7	-0.67	-1.21	-1.63	-0.8
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-2.74	-2.83	-4.44	-2.61	-1.6	-0.69	-0.47	-0.64	-1.19	-0.41
Free Cash Flow per Basic Share	-3.31	-3.13	-4.57	-2.71	-1.62	-0.69	-0.48	-0.81	-1.29	-0.49
Cash & Equivalents per Share	0.1	0.23	2.55	1.98	1.51	1.1	1.45	1.22	2.08	2.19
Book Value per Share	-1.21	-2.23	1.2	1.24	1.64	1.25	1.4	0.69	0.94	0.51
Tangible Book Value per Share	-1.21	-2.23	1.2	1.24	1.42	1.09	1.28	0.58	0.85	0.43