LQDTNasdaqServices-Business Services, NECFiscal year ends September 30
LIQUIDITY SERVICES INC
Financials through Q3 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$43.08−0.78 (-1.78%)
Close on Oct 19, 2026
- Market cap
- $1.42B
- P/E (TTM)
- 42.2
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
43.8%−9.6 pts over 5 years
Operating margin
7.4%+9.2 pts over 5 years
Net margin
5.9%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +31.2% | +19.4% | +18.3% | +1.8% | |
| Gross profit | +12.8% | +9.1% | +13.7% | +0.3% | |
| Operating income | +49.8% | -9.6% | – | – | |
| Net income | +40.5% | -11.4% | – | – | |
| EPS, diluted | +38.1% | -10.2% | – | – | |
| Free cash flow | -3.8% | +17.1% | +36.8% | +5.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 14.6% | |
| Return on assets | – | – | 7.8% | |
| Current ratio | 2.16 | 1.27 | 1.39 | |
| Inventory turnover | 5.8× | 16.8× | 17.1× | |
| Capex to revenue | 1.9% | 2.0% | 1.6% | |
| Diluted shares | 31M | 34M | 32M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Liquidity Services generated $294.25M from operations and spent $139.03M on capital expenditure, dividends and share buybacks. 26% of that went back into the business.
Generated
$294.25M
Used
$139.03M
Capital expenditure$35.63M26%Dividends$00%Share buybacks$103.39M74%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.9%
×Asset turnover1.32×
×Equity multiplier1.87×
=Return on equity, FY202514.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.9% | 1.32× | 1.87× | 14.6% |
| FY2024 | 5.5% | 1.14× | 1.85× | 11.6% |
| FY2023 | 6.7% | 1.09× | 1.83× | 13.3% |
| FY2022 | 14.4% | 1.03× | 1.88× | 27.9% |
| FY2021 | 19.8% | 1.14× | 1.83× | 41.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$28.09M
- Cash generatingOperating cash flow above zero$66.76M
- Return on assets improvedROA up on the prior year6.9% → 8.1%
- Earnings backed by cashOperating cash flow above net income$66.76M vs $28.09M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.28 → 1.39
- No dilutionShare count did not rise32M → 32M
- Gross margin improvedGross margin up on the prior year50.97% → 43.81%
- More efficientAsset turnover rose1.26 → 1.37