Liquidia Corporation

BST:LT4 Stock Report

Market Cap: €2.8b

Liquidia Valuation

Is LT4 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of LT4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: LT4 (€31.88) is trading below our estimate of future cash flow value (€184.33)

Significantly Below Future Cash Flow Value: LT4 is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LT4?

Key metric: As LT4 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for LT4. This is calculated by dividing LT4's market cap by their current revenue.
What is LT4's PS Ratio?
PS Ratio48x
SalesUS$69.22m
Market CapUS$3.32b

Price to Sales Ratio vs Peers

How does LT4's PS Ratio compare to its peers?

The above table shows the PS ratio for LT4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.8x
DMP Dermapharm Holding
1.7x3.69%€2.0b
28L PEPTONIC medical
10.1xn/a€560.2m
BAYN Bayer
1x1.90%€45.0b
MRK Merck KGaA
2.6x3.31%€54.9b
LT4 Liquidia
48x32.06%€3.3b

Price-To-Sales vs Peers: LT4 is expensive based on its Price-To-Sales Ratio (48x) compared to the peer average (3.8x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does LT4's PS Ratio compare vs other companies in the DE Pharmaceuticals Industry?

5 CompaniesPrice / SalesEstimated GrowthMarket Cap
NV5 AcuCort
0.3xn/aUS$239.71m
B8FK Biofrontera
0.7xn/aUS$17.93m
VP2 Valeo Pharma
0.01x20.92%US$520.38k
L7R Lipidor
0.2xn/aUS$92.68k
LT4 48.0xIndustry Avg. 4.4xNo. of Companies5PS03.26.49.612.816+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: LT4 is expensive based on its Price-To-Sales Ratio (48x) compared to the European Pharmaceuticals industry average (4.3x).

Price to Sales Ratio vs Fair Ratio

What is LT4's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

LT4 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio48x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate LT4's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst LT4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€31.88
€35.94
+12.72%
28.48%€45.96€13.37n/a8
Feb ’27€35.82
€35.94
+0.32%
28.48%€45.96€13.37n/a8
Jan ’27€29.18
€37.37
+28.06%
30.70%€56.90€13.59n/a9
Dec ’26€27.46
€38.30
+39.47%
30.70%€58.32€13.93n/a9
Nov ’26n/a
€32.00
0%
34.84%€46.85€5.21n/a9
Oct ’26n/a
€31.23
0%
35.09%€46.00€5.11n/a9
Sep ’26n/a
€31.50
0%
35.09%€46.39€5.15n/a9
Aug ’26€16.17
€26.23
+62.20%
32.30%€35.49€5.19n/a10
Jul ’26n/a
€25.89
0%
32.30%€35.03€5.13n/a10
Jun ’26€13.95
€26.42
+89.42%
26.71%€36.11€11.45n/a10
May ’26n/a
€23.55
0%
19.59%€30.78€17.59n/a9
Apr ’26n/a
€24.74
0%
19.59%€32.33€18.48n/a9
Mar ’26€14.63
€24.58
+68.02%
17.94%€30.08€18.44n/a9
Feb ’26n/a
€24.01
0%
20.04%€29.77€16.33€35.829
Jan ’26n/a
€24.25
0%
19.12%€29.71€16.29€29.1810
Dec ’25€10.27
€24.20
+135.66%
18.16%€29.49€16.17€27.469
Nov ’25n/a
€23.27
0%
17.75%€27.56€15.61n/a9
Oct ’25n/a
€21.78
0%
17.68%€26.32€15.43n/a7
Sep ’25n/a
€21.44
0%
17.68%€25.91€15.19n/a7
Aug ’25n/a
€25.52
0%
11.56%€29.52€21.22€16.176
Jul ’25n/a
€22.19
0%
37.80%€29.41€2.76n/a7
Jun ’25n/a
€22.19
0%
37.80%€29.41€2.76€13.957
May ’25€11.01
€23.45
+112.99%
36.79%€29.85€2.80n/a7
Apr ’25€14.10
€21.91
+55.41%
38.77%€29.39€2.76n/a7
Mar ’25n/a
€19.54
0%
42.86%€27.73€2.77€14.637
Feb ’25€11.36
€19.19
+68.90%
44.20%€27.60€2.76n/a7
€35.89
Fair Value
11.2% undervalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/16 00:53
End of Day Share Price 2026/02/16 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Liquidia Corporation is covered by 16 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jason Matthew GerberryBofA Global Research
Julian HarrisonBTIG
Andrew FeinH.C. Wainwright & Co.