A Business at a Glance
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LIQUIDITY SERVICES INC
LQDT
$1.2B
Mkt Cap
$37.56
+0.24%
LIQUIDITY SERVICES INC (LQDT) has a current P/E ratio of 40.8, compared to its historical median P/E of 26.7. The stock is currently considered Expensive based on its historical valuation range.
LIQUIDITY SERVICES INC (LQDT) has a 5-year average return on invested capital (ROIC) of 54.3%. This indicates strong capital allocation and a potential competitive advantage.
LIQUIDITY SERVICES INC (LQDT) has a market capitalization of $1.4B. It is classified as a small-cap stock.
LIQUIDITY SERVICES INC (LQDT) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.24%.
Based on historical P/E analysis, LIQUIDITY SERVICES INC (LQDT) appears expensive. The current P/E of 40.8 is 53% above its historical median of 26.7. The estimated fair value CAGR (P/E method) is 10.0%.
LIQUIDITY SERVICES INC (LQDT) operates in the Services-Business Services, Nec industry, within the Industrials sector.
LIQUIDITY SERVICES INC (LQDT) reported annual revenue of $477 million in its most recent fiscal year, based on SEC EDGAR filings.
Liquidity Services, Inc. (Liquidity Services, the Company) is the leading global provider of e-commerce marketplaces and software solutions powering the circular economy. We create a better future for organizations, individuals, and the planet by using technology to capture and unleash the intrinsic value of surplus. We connect millions of buyers and thousands of sellers through our leading e-commerce auction marketplaces, search engines, asset management and auction software, and related services. Our comprehensive solutions enable the transparent, efficient, sustainable recovery of value from excess items owned by business and government sellers. Our business delivers value to shareholders by unleashing the intrinsic value of surplus through our online marketplace platforms. These platforms ignite and enable a self-reinforcing cycle of value creation where buyers and sellers attract one another in greater numbers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 480M | 477M | 363M | 314M | 280M | 258M |
| Net Income | 30M | 28M | 20M | 21M | 40M | 51M |
| EPS | $0.81 | $0.87 | $0.63 | $0.65 | $1.20 | $1.45 |
| Free Cash Flow | 78M | 59M | 61M | 42M | 37M | 60M |
| ROIC | 150.5% | 12.3% | 43.9% | 37.1% | 94.1% | 84.3% |
| Gross Margin | 46.7% | 43.8% | 51.0% | 54.7% | 57.4% | 58.2% |
| Debt/Equity | 0.00 | 0.85 | 0.90 | 0.79 | 0.86 | 0.89 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 40M | 35M | 23M | 26M | 47M | 27M |
| Operating Margin | 8.4% | 7.4% | 6.4% | 8.3% | 16.9% | 10.5% |
| ROE | 13.6% | 14.6% | 11.6% | 13.3% | 27.9% | 41.3% |
| Shares Outstanding | 38M | 32M | 32M | 32M | 34M | 35M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 496M | 397M | 316M | 270M | 225M | 227M | 206M | 258M | 280M | 314M | 363M | 477M | 480M |
| Gross Margin | 23.5% | 51.1% | 51.2% | 46.1% | 48.9% | 50.0% | 53.4% | 58.2% | 57.4% | 54.7% | 51.0% | 43.8% | 46.7% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 49M | 41M | 40M | 36M | 30M | 34M | 29M | 29M | 28M | 28M | 32M | 33M | 36M |
| EBIT | 50M | -144M | -34M | -40M | -22M | -20M | -3.9M | 27M | 47M | 26M | 23M | 35M | 40M |
| Op. Margin | 10.2% | -36.3% | -10.8% | -14.9% | -9.7% | -8.6% | -1.9% | 10.5% | 16.9% | 8.3% | 6.4% | 7.4% | 8.4% |
| Net Income | 30M | -105M | -60M | -39M | -12M | -19M | -3.8M | 51M | 40M | 21M | 20M | 28M | 30M |
| Net Margin | 6.1% | -26.4% | -18.9% | -14.5% | -5.2% | -8.5% | -1.8% | 19.8% | 14.4% | 6.7% | 5.5% | 5.9% | 6.3% |
| Non-Recurring | 2.1M | 129M | 19M | 4.2M | 2.4M | 2.2M | 434K | 1.3M | 45K | 36K | 14K | 423K | 423K |
| Returns on Capital | |||||||||||||
| ROIC | 12.9% | -39.3% | -31.7% | -26.5% | -8.9% | -15.7% | -3.3% | 84.3% | 94.1% | 37.1% | 43.9% | 12.3% | 150.5% |
| ROE | 9.6% | -39.3% | -31.7% | -26.5% | -8.9% | -15.7% | -3.3% | 41.3% | 27.9% | 13.3% | 11.6% | 14.6% | 13.6% |
| ROA | 7.1% | -29.1% | -21.8% | -16.5% | -5.6% | -9.9% | -2.0% | 22.5% | 14.8% | 7.3% | 6.3% | 7.8% | 7.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 12M | 43M | 46M | -32M | 619K | -6.2M | 16M | 65M | 45M | 47M | 70M | 67M | 86M |
| Free Cash Flow | 4.3M | 36M | 40M | -39M | -3.6M | -12M | 12M | 60M | 37M | 42M | 61M | 59M | 78M |
| Owner Earnings | -17M | 22M | 27M | -45M | -11M | -18M | 4.5M | 52M | 26M | 28M | 47M | 42M | 57M |
| CapEx | 7.5M | 7.3M | 6.1M | 7.8M | 4.2M | 5.9M | 4.2M | 5.4M | 8.1M | 5.4M | 8.9M | 7.8M | 8.5M |
| Maint. CapEx | 17M | 9.2M | 6.5M | 5.8M | 4.6M | 5.1M | 6.3M | 7.0M | 10M | 11M | 12M | 10M | 11M |
| Growth CapEx | 0 | 0 | 0 | 2.0M | 0 | 847K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 17M | 9.2M | 6.5M | 5.8M | 4.6M | 5.1M | 6.3M | 7.0M | 10M | 11M | 12M | 10M | 11M |
| CapEx/OCF | 63.6% | 16.8% | 13.3% | N/A | 674.3% | N/A | 25.4% | 8.3% | 18.1% | 11.5% | 12.7% | 11.7% | 9.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 45M | 0 | 0 | 0 | 0 | 0 | 4.0M | 31M | 25M | 21M | 9.4M | 16M | 18M |
| Buyback Yield | 10.2% | N/A | N/A | N/A | N/A | N/A | 1.6% | 3.7% | 4.7% | 3.8% | 1.3% | 1.8% | 1.2% |
| Stock-Based Comp | 13M | 12M | 12M | 7.4M | 6.6M | 6.5M | 5.7M | 6.9M | 8.5M | 8.2M | 11M | 14M | 19M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 91K | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -204M |
| Cash & Equiv. | 63M | 95M | 135M | 94M | 58M | 36M | 76M | 106M | 96M | 110M | 153M | 175M | 204M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.36 | 0.34 | 0.60 | 0.62 | 0.56 | 0.61 | 0.76 | 0.89 | 0.86 | 0.79 | 0.90 | 0.85 | 0.00 |
| Interest Coverage | N/A | -843.4 | -28.0 | -66.4 | -27.7 | -13.5 | -4.2 | 66.1 | 191.1 | 9.0 | 6.1 | 8.0 | 2114.1 |
| Equity | 317M | 216M | 163M | 133M | 130M | 116M | 112M | 135M | 155M | 162M | 183M | 203M | 222M |
| Total Assets | 432M | 288M | 260M | 215M | 202M | 187M | 197M | 256M | 288M | 289M | 347M | 375M | 400M |
| Total Liabilities | 115M | 72M | 97M | 83M | 72M | 71M | 85M | 121M | 134M | 127M | 164M | 172M | 178M |
| Intangibles | 17M | 4.1M | 2.6M | 427K | 7.4M | 6.0M | 4.8M | 3.5M | 16M | 12M | 14M | 13M | 12M |
| Retained Earnings | 116M | 11M | -49M | -88M | -100M | -119M | -122M | -71M | -31M | -10.0M | 10M | 38M | 53M |
| Working Capital | 78M | 119M | 99M | 68M | 35M | 21M | 20M | 23M | 6.1M | 26M | 44M | 63M | 85M |
| Current Assets | 185M | 188M | 185M | 139M | 103M | 90M | 95M | 132M | 130M | 146M | 199M | 225M | 250M |
| Current Liabilities | 107M | 69M | 85M | 71M | 68M | 69M | 74M | 109M | 124M | 121M | 155M | 162M | 165M |
| Per Share Data | |||||||||||||
| EPS | 0.97 | -3.50 | -1.96 | -1.25 | -0.36 | -0.58 | -0.11 | 1.45 | 1.20 | 0.65 | 0.63 | 0.87 | 0.81 |
| Owner EPS | -0.55 | 0.73 | 0.89 | -1.43 | -0.33 | -0.54 | 0.13 | 1.47 | 0.77 | 0.85 | 1.48 | 1.30 | 1.50 |
| Book Value | 10.12 | 7.21 | 5.32 | 4.23 | 4.02 | 3.50 | 3.26 | 3.84 | 4.60 | 5.01 | 5.75 | 6.29 | 5.86 |
| Cash Flow/Share | 0.38 | 1.45 | 1.50 | -1.01 | 0.02 | -0.19 | 0.48 | 1.86 | 1.33 | 1.46 | 2.21 | 2.07 | 1.08 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 31.3M | 29.9M | 30.6M | 31.3M | 32.3M | 33.2M | 34.3M | 35.1M | 33.6M | 32.3M | 31.7M | 32.3M | 37.9M |
| Valuation | |||||||||||||
| P/E Ratio | 14.5 | N/A | N/A | N/A | N/A | N/A | N/A | 16.6 | 13.5 | 26.7 | 35.6 | 31.4 | 46.6 |
| P/FCF | 102.4 | 5.6 | 8.2 | N/A | N/A | N/A | 20.3 | 14.1 | 14.8 | 13.5 | 11.6 | 15.0 | 18.3 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 30.3 |
| Price/Book | 1.4 | 0.9 | 2.0 | 1.4 | 1.6 | 2.1 | 2.2 | 6.3 | 3.5 | 3.5 | 3.9 | 4.3 | 6.4 |
| Price/Sales | 5.9 | 3.5 | 2.6 | 3.0 | 0.9 | 1.0 | 1.0 | 2.5 | 2.2 | 1.6 | 1.7 | 1.9 | 3.0 |
| FCF Yield | 1.0% | 17.8% | 12.2% | -21.3% | -1.7% | -4.9% | 4.9% | 7.1% | 6.7% | 7.4% | 8.6% | 6.7% | 5.5% |
| Market Cap | 442M | 203M | 326M | 185M | 205M | 246M | 249M | 848M | 544M | 561M | 712M | 882M | 1.4B |
| Avg. Price | 19.99 | 9.51 | 7.12 | 7.84 | 6.18 | 6.73 | 5.78 | 18.53 | 18.19 | 15.45 | 19.19 | 27.74 | 37.56 |
| Year-End Price | 14.11 | 6.79 | 10.65 | 5.90 | 6.35 | 7.41 | 7.26 | 24.13 | 16.20 | 17.38 | 22.43 | 27.30 | 37.56 |
LIQUIDITY SERVICES INC passes 3 of 9 quality checks, indicating weak fundamentals.
LIQUIDITY SERVICES INC trades at 40.8x trailing earnings, compared to its 15-year median P/E of 26.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 16.6x vs a median of 14.1x. The company's 5-year average ROIC is 54.3% with a gross margin of 53.0%. Total shareholder yield (buybacks) is 1.2%. At current prices, the estimated annualized return to fair value is +31.2%.
LIQUIDITY SERVICES INC (LQDT) has a net profit margin of 5.9%. This is a modest margin.
LIQUIDITY SERVICES INC (LQDT) generated $59 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LIQUIDITY SERVICES INC (LQDT) has a debt-to-equity ratio of 0.85. This indicates moderate leverage.
LIQUIDITY SERVICES INC (LQDT) reported earnings per share (EPS) of $0.87 in its most recent fiscal year.
LIQUIDITY SERVICES INC (LQDT) has a return on equity (ROE) of 14.6%. This indicates moderate shareholder returns.
LIQUIDITY SERVICES INC (LQDT) has a 5-year average gross margin of 53.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for LIQUIDITY SERVICES INC (LQDT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LIQUIDITY SERVICES INC (LQDT) has a book value per share of $6.29, based on its most recent annual SEC filing.