Liquidia Technologies (LQDA)

Healthcare · Drug Manufacturers - Specialty & Generic
$27.38 -2.28% on the day Market cap $2.6B 52-week range $21.94 to $93.61 Prices as of Oct 11, 2026

What the price implies

A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.

Liquidia Technologies's free cash flow was negative in fiscal 2025, so a cash-flow reverse DCF doesn't give a meaningful answer. The Modeling tab works from revenue and margins instead.

Fundamental grade

C

Five factors scored 1 to 9 from LQDA's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.

Valuation3
Profitability9
Growth9
Financial health5
Cash efficiency0

Results from SEC filings

Fiscal years, from Liquidia Technologies's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.

Fiscal year20212022202320242025
Revenue$13M$16M$17M$14M$158M
Net income-$35M-$41M-$79M-$128M-$69M
Free cash flow-$34M-$29M-$43M-$98M-$40M
EPS (diluted)-$0.70-$0.67-$1.21-$1.63-$0.80
Operating margin-263.0%-243.3%-419.6%-866.6%-32.5%

Where the revenue comes from

Revenue by products, fiscal 2025. Every breakdown, year by year.

Product sales, net$148M94%
Service revenue, net$10M6%

Superinvestors who own LQDA

From each investor's latest 13F filing (what a 13F shows). 4 of the investors we track hold it.

InvestorLast quarterValue% of portfolioQuarter
Tom Steyer
Farallon Capital Management LLC
Trimmed $667M3.1%Q2 2026
Cliff Asness
AQR Capital Management
Added $7M0.00%Q2 2026
Joel Greenblatt
Gotham Asset Management
Added $3M0.01%Q2 2026
Jay Petschek
Corsair Capital Management
Held $1M0.15%Q2 2026

Insider buying

Open-market purchases by Liquidia Technologies's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.

No open-market insider purchases of LQDA in the last 12 months. Most insider activity is selling and option exercises, which aren't shown here.

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In the full deep dive

DCF fair value per share
Yearly return (IRR) at today's price
Growth implied by revenue and margins
15+ years of statements and quarters

Questions

Are Liquidia Technologies insiders buying the stock?

No open-market insider purchases of LQDA in the last 12 months, according to SEC Form 4 filings.

Which superinvestors own Liquidia Technologies?

4 of the superinvestors Investingly tracks hold LQDA in their latest 13F, including Tom Steyer, Cliff Asness, Joel Greenblatt.

Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.