What is Liquidia Corporation's net margin?

Liquidia Corporation (LQDA) reported net margin of -176.2% in Q3 2025.

How has Liquidia Corporation's net margin changed year-over-year?

Liquidia Corporation's net margin increased by 76.5% year-over-year, from -751% to -176.2%.

What is the long-term trend for Liquidia Corporation's net margin?

Over 4 years (2020 to 2024), Liquidia Corporation's net margin has grown at a -42.0% compound annual growth rate (CAGR), from -8,080.1% to -916.6%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Liquidia Corporation LQDA Net margin

Net margin at other companies

Tenet HealthcareTHC

12.4%+0.9pp

United TherapeuticsUTHR

40.6%+0.2pp

Mirum Pharmaceuticals, Inc.MIRM

-140.2%-169pp

Arrowhead ResearchARWR

-48.4%+240pp

Ionis PharmaceuticalsIONS

-30.9%-10.5pp

BridgeBio PharmaBBIO

-125.9%-54.5pp

Other financials

Income statement

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Revenue$132.9M+4,158%

Gross profit$1.6M+6.5%

Operating income$61.5M+274%

Net income$52.9M+238%

EPS (diluted)$0.52+216%

Balance sheet

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Cash & equivalents$222.8M+31.2%

Total debt$7.0M+1.5%

Total equity$108.6M+118%

Total assets$401.5M+76.6%

Cash flow

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Operating cash flow$53.0M+273%

CapEx$2.8M+758%

Free cash flow$50.2M+262%

Valuation

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Market cap$6.32B+164%

Enterprise value$6.1B+184%

P/S21.9×-147×

Profitability

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Gross margin58.1%-18.7pp

Operating margin-155%-68.1pp

FCF margin-150.7%-64.4pp

Returns & leverage

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Return on equity-181%+57.4pp

Debt / equity0.1×-0.1×

Current ratio2.2×-0.7×

Where this comes from

Calculated from Liquidia Corporation’s reported figures.

net income/total revenue=-176.2%

Based on trailing twelve months.

The official record: Liquidia Corporation’s 10-Q, filed November 3, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Liquidia Corporation's net margin?: Liquidia Corporation (LQDA) reported net margin of -176.2% in Q3 2025.
How has Liquidia Corporation's net margin changed year-over-year?: Liquidia Corporation's net margin increased by 76.5% year-over-year, from -751% to -176.2%.
What is the long-term trend for Liquidia Corporation's net margin?: Over 4 years (2020 to 2024), Liquidia Corporation's net margin has grown at a -42.0% compound annual growth rate (CAGR), from -8,080.1% to -916.6%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.