Go Pro
→ Ready to give options a try? Your first trade (Ticker included) -INSIDE (From Base Camp Trading) (Ad)tc pixel Free LIQT Stock Alerts

LiqTech International (LIQT) Financials

LiqTech International logo
$0.59 0.00 (0.00%)
As of 08/26/2026 04:00 PM Eastern
Compare
Annual Income Statements for LiqTech International

Annual Income Statements for LiqTech International

This table shows LiqTech International's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -2.21 -16 -4.46 -3.81 0.04 -9.81 -11 -14 -8.57 -10 -8.53
Consolidated Net Income / (Loss)		 -2.19 -16 -4.46 -3.81 0.04 -9.81 -11 -14 -8.57 -10 -8.60
Net Income / (Loss) Continuing Operations		 -2.19 -16 -4.46 -3.81 0.04 -9.81 -11 -14 -8.57 -10 -8.60
Total Pre-Tax Income 		-2.89 -13 -4.78 -4.18 -0.26 -10 -11 -14 -8.78 -10 -8.60
Total Operating Income		 -3.40 -13 -4.61 -4.49 -0.58 -8.26 -11 -13 -7.80 -9.49 -8.31
Total Gross Profit		 3.21 1.43 0.21 1.07 7.16 2.15 1.58 0.57 2.78 0.25 1.25
Total Revenue		 16 14 11 12 33 23 18 16 18 15 17
Operating Revenue		 16 14 11 12 33 23 18 16 18 15 17
Total Cost of Revenue		 13 12 11 11 25 20 17 15 15 14 15
Operating Cost of Revenue		 13 12 11 11 25 20 17 15 15 14 15
Total Operating Expenses		 6.61 15 4.81 5.55 7.74 10 12 13 11 9.74 9.56
Selling, General & Admin Expense		 5.54 6.16 4.28 4.89 6.99 9.12 10 9.37 9.16 8.39 8.40
Research & Development Expense		 0.71 0.63 0.54 0.66 0.75 1.28 1.86 1.84 1.42 1.35 1.16
Total Other Income / (Expense), net		 0.51 -0.06 -0.17 0.31 0.32 -2.02 -0.50 -1.87 -0.99 -0.90 -0.29
Interest Expense		 0.05 0.04 0.05 0.07 0.02 0.12 1.54 2.81 0.55 0.78 0.74
Interest & Investment Income		 0.11 -0.02 0.00 0.03 0.07 0.14 0.37 0.38 0.37 0.18 0.45
Other Income / (Expense), net		 0.46 -0.01 -0.13 0.35 0.26 -2.04 0.67 0.55 -0.80 -0.29 0.00
Income Tax Expense		 -0.70 3.22 -0.32 -0.37 -0.30 -0.47 -0.06 -0.24 -0.21 -0.04 -0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.02 - - - - - - - - 0.00 -0.07
Basic Earnings per Share		 ($0.06) ($0.45) ($0.11) ($0.24) $0.00 ($0.46) ($0.52) ($3.20) ($1.51) ($1.64) ($0.89)
Weighted Average Basic Shares Outstanding		 36.79M 36.84M 41.60M 15.96M 19.65M 21.21M 21.57M 4.42M 5.69M 6.31M 9.61M
Weighted Average Diluted Shares Outstanding		 36.79M 36.84M 41.60M 15.96M 19.67M 21.21M 21.57M 45.27M 5.81M 9.61M 9.95M
Weighted Average Basic & Diluted Shares Outstanding		 39.53M 36.84M 41.60M 63.84M 20.56M 21.21M 21.57M 45.27M 5.81M 9.61M 9.95M

Quarterly Income Statements for LiqTech International

This table shows LiqTech International's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -3.21 -2.39 -2.11 -2.84 -3.00 -2.35 -2.15 -1.43 -2.59 -2.71 -3.02
Consolidated Net Income / (Loss)		 -3.21 -2.39 -2.11 -2.84 -3.00 -2.36 -2.16 -1.46 -2.62 -2.73 -3.05
Net Income / (Loss) Continuing Operations		 -3.21 -2.39 -2.11 -2.84 -3.00 -2.36 -2.16 -1.46 -2.62 -2.73 -3.05
Total Pre-Tax Income 		-3.38 -2.40 -2.13 -2.85 -3.00 -2.36 -2.16 -1.46 -2.62 -2.73 -3.05
Total Operating Income		 -2.30 -2.05 -2.09 -2.59 -2.77 -2.19 -2.11 -1.33 -2.68 -2.28 -2.33
Total Gross Profit		 0.27 0.27 0.72 -0.21 -0.53 0.13 0.48 0.75 -0.11 0.39 0.37
Total Revenue		 3.93 4.24 4.49 2.48 3.41 4.62 4.96 3.81 3.13 4.14 4.36
Operating Revenue		 3.93 4.24 4.49 2.48 3.41 4.62 4.96 3.81 3.13 4.14 4.36
Total Cost of Revenue		 3.66 3.96 3.77 2.69 3.93 4.49 4.47 3.06 3.23 3.74 4.00
Operating Cost of Revenue		 3.66 3.96 3.77 2.69 3.93 4.49 4.47 3.06 3.23 3.74 4.00
Total Operating Expenses		 2.58 2.32 2.80 2.38 2.24 2.31 2.59 2.08 2.57 2.67 2.70
Selling, General & Admin Expense		 2.29 2.06 2.40 2.10 1.83 2.08 2.35 1.81 2.15 2.39 2.43
Research & Development Expense		 0.29 0.25 0.41 0.28 0.41 0.23 0.24 0.27 0.42 0.28 0.27
Total Other Income / (Expense), net		 -1.08 -0.36 -0.04 -0.26 -0.24 -0.17 -0.05 -0.13 0.06 -0.45 -0.72
Interest Expense		 0.20 0.22 0.18 0.19 0.19 0.22 0.15 0.15 0.23 0.30 0.63
Interest & Investment Income		 0.09 0.07 0.05 0.02 0.04 0.07 0.06 0.06 0.25 0.02 0.02
Other Income / (Expense), net		 -0.97 -0.21 0.09 -0.09 -0.09 -0.03 0.03 -0.04 0.04 -0.17 -0.11
Income Tax Expense		 -0.16 -0.01 -0.01 -0.01 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 0.00 0.00 0.00 - -0.01 -0.01 -0.03 -0.03 -0.01 -0.04
Basic Earnings per Share		 ($0.56) ($0.41) ($0.36) ($0.49) ($0.48) ($0.25) ($0.14) ($0.15) ($0.27) ($0.28) ($0.14)
Weighted Average Basic Shares Outstanding		 5.69M 5.80M 5.81M 5.82M 6.31M 9.60M 14.91M 9.62M 9.61M 9.85M 20.81M
Weighted Average Diluted Shares Outstanding		 5.81M 5.81M 5.82M 9.45M 9.61M 9.61M 9.61M 9.63M 9.95M 9.95M 32.95M
Weighted Average Basic & Diluted Shares Outstanding		 5.81M 5.81M 5.82M 9.45M 9.61M 9.61M 9.61M 9.63M 9.95M 9.95M 32.95M

Annual Cash Flow Statements for LiqTech International

This table details how cash moves in and out of LiqTech International's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -4.48 -0.16 1.28 1.29 6.01 3.48 4.22 -0.89 -6.18 0.45 -5.80
Net Cash From Operating Activities		 -1.93 0.42 -3.32 -3.91 -4.55 -2.60 -7.20 -12 -4.18 -7.53 -6.11
Net Cash From Continuing Operating Activities		 -2.09 0.42 -3.32 -3.91 -4.55 -2.60 -6.24 -12 -4.18 -7.53 -6.11
Net Income / (Loss) Continuing Operations		 -2.19 -16 -4.46 -3.81 0.04 -9.81 -11 -14 -8.57 -10 -8.60
Consolidated Net Income / (Loss)		 -2.19 -16 -4.46 -3.81 0.04 -9.81 -11 -14 -8.57 -10 -8.60
Depreciation Expense		 1.44 1.38 0.94 0.65 1.34 2.83 2.74 2.59 2.58 2.16 1.69
Amortization Expense		 - - - - - 0.00 0.84 2.39 0.97 1.19 1.03
Non-Cash Adjustments To Reconcile Net Income		 0.39 10 0.25 -0.28 -4.57 2.87 -0.01 -0.45 -0.61 1.39 1.56
Changes in Operating Assets and Liabilities, net		 -1.74 5.13 -0.04 -0.47 -1.36 1.52 1.32 -2.39 1.46 -1.92 -1.79
Net Cash From Investing Activities		 -0.59 -0.37 -0.12 -0.17 -3.70 -4.01 -1.45 -1.69 -2.89 -0.42 -0.22
Net Cash From Continuing Investing Activities		 -0.59 -0.37 -0.12 -0.17 -3.70 -4.01 -1.45 -1.69 -2.89 -0.42 -0.22
Purchase of Property, Plant & Equipment		 -0.58 -0.37 -0.14 -0.18 -2.54 -3.75 -1.13 -1.69 -2.89 -1.37 -0.40
Sale of Property, Plant & Equipment		 - 0.00 0.01 0.01 0.02 0.10 0.00 0.00 0.01 0.94 0.18
Net Cash From Financing Activities		 -0.22 -0.20 4.10 6.02 15 7.22 14 14 0.58 8.49 0.72
Net Cash From Continuing Financing Activities		 -0.22 -0.20 4.10 6.02 15 7.22 14 14 0.58 8.49 0.72
Issuance of Debt		 - - - - - 0.00 0.00 6.00 - 0.00 1.21
Issuance of Common Equity		 - 0.00 1.83 6.03 15 7.24 0.00 24 0.00 9.92 0.01
Other Financing Activities, net		 - - -0.11 -0.01 0.11 -0.02 -0.38 0.08 0.58 -1.43 -0.51
Other Net Changes in Cash		 - - - - -0.37 2.87 -1.02 -0.86 0.31 -0.09 -0.19
Cash Interest Paid		 0.05 0.04 0.05 0.04 0.01 0.10 0.64 0.35 0.18 0.16 0.16
Cash Income Taxes Paid		 0.00 0.00 0.00 0.00 0.02 0.01 - 0.00 0.00 0.00 0.00

Quarterly Cash Flow Statements for LiqTech International

This table details how cash moves in and out of LiqTech International's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -1.41 -2.70 -2.24 -0.95 6.33 -0.42 -1.77 -1.32 -2.28 -2.34 13
Net Cash From Operating Activities		 -1.21 -1.96 -1.82 -1.75 -2.01 -1.30 -1.61 -1.07 -2.13 -1.94 -3.10
Net Cash From Continuing Operating Activities		 -1.21 -1.96 -1.82 -1.75 -2.01 -1.30 -1.61 -1.07 -2.13 -1.94 -3.10
Net Income / (Loss) Continuing Operations		 -3.21 -2.39 -2.11 -2.84 -3.00 -2.36 -2.16 -1.46 -2.62 -2.73 -3.05
Consolidated Net Income / (Loss)		 -3.21 -2.39 -2.11 -2.84 -3.00 -2.36 -2.16 -1.46 -2.62 -2.73 -3.05
Depreciation Expense		 0.67 0.54 0.53 0.55 0.54 0.44 0.46 0.42 0.38 0.36 0.30
Amortization Expense		 0.29 0.28 0.29 0.33 0.30 0.30 0.23 0.24 0.26 0.26 0.58
Non-Cash Adjustments To Reconcile Net Income		 0.06 0.68 -0.26 0.31 0.65 1.04 -0.13 0.26 0.38 0.17 0.24
Changes in Operating Assets and Liabilities, net		 0.98 -1.07 -0.27 -0.10 -0.49 -0.73 -0.01 -0.53 -0.53 -0.01 -1.16
Net Cash From Investing Activities		 -0.62 0.55 -0.22 -0.36 -0.40 -0.11 0.06 -0.13 -0.04 -0.27 0.01
Net Cash From Continuing Investing Activities		 -0.62 0.55 -0.22 -0.36 -0.40 -0.11 0.06 -0.13 -0.04 -0.27 0.01
Purchase of Property, Plant & Equipment		 -0.63 -0.39 -0.22 -0.37 -0.39 -0.16 0.06 -0.13 -0.17 -0.27 -0.01
Sale of Property, Plant & Equipment		 0.01 0.94 0.00 0.00 -0.00 0.05 0.00 0.00 0.12 0.00 0.02
Net Cash From Financing Activities		 -0.14 -1.01 -0.11 0.99 8.62 0.99 -0.13 -0.07 -0.07 -0.31 16
Net Cash From Continuing Financing Activities		 -0.14 -1.01 -0.11 0.99 8.62 0.99 -0.13 -0.07 -0.07 -0.31 16
Issuance of Debt		 - 0.00 - - - 1.09 -0.00 0.06 0.06 0.00 1.09
Other Financing Activities, net		 -0.44 -1.01 -0.11 -0.12 -0.20 -0.11 -0.13 -0.14 -0.13 -0.31 -0.13
Other Net Changes in Cash		 0.56 -0.28 -0.09 0.17 0.12 -0.00 -0.09 -0.06 -0.04 0.18 -0.06
Cash Interest Paid		 0.06 0.07 0.03 0.03 0.03 0.05 0.06 0.03 0.02 0.03 0.29

Annual Balance Sheets for LiqTech International

This table presents LiqTech International's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 28 11 12 8.76 39 42 45 40 36 32 27
Total Current Assets		 13 8.51 9.43 6.97 27 26 28 28 22 21 16
Restricted Cash		 0.29 - - - - 13 17 - 10 11 5.07
Accounts Receivable		 6.22 2.06 1.76 2.41 6.27 3.13 1.96 2.31 3.17 2.40 3.43
Inventories, net		 4.92 5.17 4.66 4.43 5.20 5.52 5.42 4.06 5.27 5.54 6.48
Prepaid Expenses		 0.01 0.06 0.03 0.13 0.57 1.03 1.29 1.72 0.34 0.17 0.25
Other Current Assets		 - - 0.49 - 5.66 2.71 1.91 2.98 2.89 1.67 0.73
Plant, Property, & Equipment, net		 3.54 2.63 1.96 1.43 4.83 10 8.86 8.30 9.01 6.62 5.85
Total Noncurrent Assets		 12 0.27 0.29 0.35 6.28 6.23 8.13 4.16 4.87 5.17 5.47
Goodwill		 7.58 - - 0.00 0.24 0.26 0.24 0.23 0.23 0.22 0.25
Intangible Assets		 0.01 0.01 0.00 0.00 0.49 0.48 0.33 0.21 0.11 0.04 0.04
Other Noncurrent Operating Assets		 0.25 0.26 0.28 0.35 5.55 5.49 7.55 3.72 4.53 4.91 5.19
Total Liabilities & Shareholders' Equity		 28 11 12 13 39 42 45 40 36 32 27
Total Liabilities		 5.51 5.14 4.77 4.62 16 17 32 17 19 16 17
Total Current Liabilities		 5.34 5.01 4.77 4.62 10 9.81 17 6.09 7.50 4.90 4.72
Short-Term Debt		 0.15 0.06 0.03 0.00 0.30 0.00 8.40 - - - 0.00
Accounts Payable		 3.46 2.26 1.78 2.12 4.34 2.33 1.65 1.39 2.44 1.30 1.55
Accrued Expenses		 1.44 2.39 1.73 1.87 3.22 4.91 4.69 3.09 3.55 2.49 1.80
Other Current Liabilities		 - - 0.31 0.63 2.46 2.57 2.14 1.61 1.50 1.11 1.37
Total Noncurrent Liabilities		 0.17 0.13 0.00 0.00 5.25 7.58 15 11 11 11 12
Long-Term Debt		 0.00 0.04 - - - - 6.19 5.48 4.69 5.30 6.78
Capital Lease Obligations		 0.17 0.09 - 0.00 0.17 3.11 2.50 2.38 2.88 1.60 1.42
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - 0.00 0.34 0.31 0.22 0.15 0.10 0.06 0.06
Other Noncurrent Operating Liabilities		 - - - 0.00 4.74 4.16 6.50 2.71 3.53 3.91 3.93
Total Equity & Noncontrolling Interests		 23 6.27 6.91 8.54 23 25 13 23 17 17 10
Total Preferred & Common Equity		 23 6.27 6.91 8.54 23 25 13 23 17 17 10
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 23 6.27 6.91 8.54 23 25 13 23 17 17 10
Common Stock		 36 36 41 47 61 70 71 97 99 109 110
Retained Earnings		 -7.59 -24 -28 -32 -32 -42 -53 -67 -76 -86 -95
Accumulated Other Comprehensive Income / (Loss)		 -5.38 -5.69 -5.04 -5.74 -6.17 -3.05 -4.98 -6.32 -5.60 -6.36 -5.21
Noncontrolling Interest		 - - - - - - - - - 0.00 -0.06

Quarterly Balance Sheets for LiqTech International

This table presents LiqTech International's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 37 31 29 29 33 32 30 25 38
Total Current Assets		 25 19 17 16 21 20 19 14 28
Restricted Cash		 12 7.73 5.49 4.54 10 8.67 7.35 2.73 16
Accounts Receivable		 3.88 2.71 2.80 2.32 3.44 4.10 3.78 3.66 5.23
Inventories, net		 4.56 5.51 5.62 6.26 5.71 5.51 6.43 6.48 5.96
Prepaid Expenses		 1.31 0.62 0.39 0.31 0.46 0.37 0.26 0.64 0.53
Other Current Assets		 2.98 2.85 2.88 2.53 0.85 1.14 0.96 0.63 0.34
Plant, Property, & Equipment, net		 8.64 7.29 6.94 7.08 6.45 6.45 6.17 5.62 5.28
Total Noncurrent Assets		 3.63 4.67 4.46 5.68 5.21 5.48 5.35 5.18 4.95
Goodwill		 0.22 0.23 0.23 0.24 0.23 0.25 0.25 0.24 0.24
Intangible Assets		 0.14 0.09 0.06 0.04 0.04 0.04 0.04 0.03 0.03
Other Noncurrent Operating Assets		 3.27 4.35 4.17 5.40 4.94 5.20 5.06 4.90 4.69
Total Liabilities & Shareholders' Equity		 37 31 29 29 33 32 30 25 38
Total Liabilities		 18 17 16 17 18 18 18 17 12
Total Current Liabilities		 7.73 6.63 6.26 6.00 5.51 5.48 5.37 5.66 6.34
Short-Term Debt		 - - - - - - - - 1.14
Accounts Payable		 2.23 2.16 1.81 1.72 1.76 1.53 1.96 2.04 1.40
Accrued Expenses		 3.85 2.97 3.19 3.03 2.55 2.70 2.19 2.23 2.49
Other Current Liabilities		 1.65 1.50 1.26 1.25 1.19 1.25 1.22 1.40 1.31
Total Noncurrent Liabilities		 9.83 10 10 11 12 12 12 12 5.81
Long-Term Debt		 4.54 4.83 4.98 5.14 6.37 6.50 6.63 6.76 1.18
Capital Lease Obligations		 2.90 1.94 1.81 1.76 1.67 1.68 1.55 1.26 1.13
Noncurrent Deferred & Payable Income Tax Liabilities		 0.11 0.08 0.07 0.06 0.06 0.06 0.06 0.06 0.06
Other Noncurrent Operating Liabilities		 2.28 3.33 3.18 4.34 3.90 4.07 3.91 3.66 3.44
Total Equity & Noncontrolling Interests		 19 15 12 11 15 14 13 7.55 26
Total Preferred & Common Equity		 19 15 12 11 15 14 13 7.63 26
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 19 15 12 11 15 14 13 7.63 26
Common Stock		 99 99 99 100 110 110 110 110 132
Retained Earnings		 -73 -78 -80 -83 -89 -91 -92 -98 -101
Accumulated Other Comprehensive Income / (Loss)		 -6.68 -6.15 -6.36 -5.64 -6.01 -5.22 -5.17 -5.34 -5.36
Noncontrolling Interest		 - - - - 0.01 -0.00 -0.03 -0.08 -0.11

Annual Metrics And Ratios for LiqTech International

This table displays calculated financial ratios and metrics derived from LiqTech International's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.59% -12.05% -18.43% 7.84% 166.82% -30.98% -18.88% -12.54% 12.63% -18.87% 13.03%
EBITDA Growth		 51.91% -686.46% 67.75% 8.08% 129.55% -824.16% 13.68% -8.74% 27.83% -27.14% 13.17%
EBIT Growth		 37.99% -347.06% 63.99% 12.62% 92.45% -3,194.11% 2.65% -19.59% 28.24% -13.74% 15.07%
NOPAT Growth		 34.52% -286.38% 64.92% 2.64% 87.13% -1,330.39% -29.46% -17.28% 37.78% -21.65% 12.43%
Net Income Growth		 29.01% -650.32% 72.83% 14.48% 101.04% -24,858.58% -13.44% -27.34% 39.51% -20.70% 16.85%
EPS Growth		 33.33% -650.00% 75.56% 14.48% 100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 66.35% 121.55% -897.36% -18.06% -16.16% 42.84% -177.19% -67.12% 65.25% -80.07% 18.93%
Free Cash Flow Firm Growth		 84.68% 413.75% -135.85% -17.00% -251.67% 32.21% 23.18% -111.65% 51.68% 7.45% -34.83%
Invested Capital Growth		 -1.06% -75.23% -15.32% -6.92% 230.90% 7.10% -15.64% 17.82% -1.06% -12.01% 6.33%
Revenue Q/Q Growth		 19.82% -15.27% 3.89% -0.79% 11.44% -8.85% 12.68% -11.59% -0.51% -3.46% -1.67%
EBITDA Q/Q Growth		 66.12% -2,612.04% 71.69% -13.02% 339.62% -31.04% 12.67% -6.02% -9.55% 4.53% 0.13%
EBIT Q/Q Growth		 49.64% -622.98% 67.39% -5.69% 51.60% -25.42% 6.35% 2.08% -12.93% 4.15% 2.44%
NOPAT Q/Q Growth		 45.11% -510.00% 68.12% -9.11% 40.94% -43.09% 8.24% 2.94% 0.28% -5.10% 1.01%
Net Income Q/Q Growth		 48.25% -235.98% 70.07% -3.82% 115.33% -41.50% 8.32% 3.43% -13.95% 1.97% 4.25%
EPS Q/Q Growth		 40.00% -275.00% 67.65% -3.82% 100.00% 6.12% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 51.27% 137.88% -180.46% 12.10% 1.04% -311.73% -12.49% 15.69% -18.53% -11.80% -2.10%
Free Cash Flow Firm Q/Q Growth		 -8.05% 437.95% -169.51% 28.80% -43.57% -47.61% 30.63% -1.27% 19.77% 6.03% -16.48%
Invested Capital Q/Q Growth		 0.47% -71.36% -6.14% -29.10% 13.27% 16.17% 3.54% 6.01% -3.13% -7.99% -0.78%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 20.33% 10.30% 1.82% 8.72% 21.95% 9.53% 8.63% 3.55% 15.42% 1.72% 7.58%
EBITDA Margin		 -9.46% -84.61% -33.45% -28.51% 3.16% -33.14% -35.26% -43.84% -28.09% -44.02% -33.82%
Operating Margin		 -21.50% -94.45% -40.62% -36.67% -1.77% -36.65% -58.49% -78.42% -43.32% -64.96% -50.33%
EBIT Margin		 -18.59% -94.52% -41.73% -33.82% -0.96% -45.69% -54.83% -74.97% -47.76% -66.96% -50.32%
Profit (Net Income) Margin		 -13.84% -118.07% -39.32% -31.18% 0.12% -43.54% -60.89% -88.65% -47.61% -70.84% -52.11%
Tax Burden Percent		 75.82% 124.39% 93.35% 91.26% -15.38% 95.47% 99.44% 98.35% 97.65% 99.63% 99.98%
Interest Burden Percent		 98.16% 100.42% 100.94% 101.05% 82.46% 99.82% 111.69% 120.24% 102.08% 106.18% 103.57%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -11.17% -69.53% -66.52% -73.15% -4.53% -40.75% -55.34% -65.11% -37.65% -48.99% -44.43%
ROIC Less NNEP Spread (ROIC-NNEP)		 -16.71% 535.34% 4.37% -53.50% -11.00% 0.66% 13.75% 53.00% 16.06% 59.65% 616.43%
Return on Net Nonoperating Assets (RNNOA)		 2.33% -44.34% -1.15% 23.78% 4.78% -0.27% -3.86% -13.42% -4.58% -11.99% -19.23%
Return on Equity (ROE)		 -8.84% -113.87% -67.67% -49.37% 0.25% -41.02% -59.20% -78.53% -42.24% -60.98% -63.66%
Cash Return on Invested Capital (CROIC)		 -10.10% 51.06% -49.93% -65.98% -111.70% -47.61% -38.37% -81.47% -36.59% -36.22% -50.56%
Operating Return on Assets (OROA)		 -9.88% -66.58% -41.00% -40.48% -1.32% -25.48% -22.96% -28.13% -22.60% -28.60% -27.82%
Return on Assets (ROA)		 -7.36% -83.16% -38.63% -37.33% 0.17% -24.28% -25.50% -33.27% -22.53% -30.25% -28.81%
Return on Common Equity (ROCE)		 -8.83% -113.87% -67.66% -49.37% 0.25% -41.02% -59.20% -78.53% -42.24% -60.98% -63.80%
Return on Equity Simple (ROE_SIMPLE)		 -9.70% -261.87% -64.53% -44.67% 0.17% -39.52% -87.10% -60.79% -49.61% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -2.38 -9.19 -3.23 -3.14 -0.40 -5.78 -7.48 -8.77 -5.46 -6.64 -5.82
NOPAT Margin		 -15.05% -66.12% -28.43% -25.67% -1.24% -25.65% -40.94% -54.90% -30.33% -45.48% -35.23%
Net Nonoperating Expense Percent (NNEP)		 5.54% -604.87% -70.89% -19.65% 6.47% -41.41% -69.08% -118.12% -53.71% -108.64% -660.85%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - -21.97% -28.19% -31.33%
Cost of Revenue to Revenue		 79.67% 89.70% 98.18% 91.28% 78.05% 90.47% 91.37% 96.45% 84.58% 98.28% 92.42%
SG&A Expenses to Revenue		 35.01% 44.31% 37.71% 39.98% 21.42% 40.50% 56.92% 58.64% 50.86% 57.42% 50.86%
R&D to Revenue		 4.48% 4.50% 4.73% 5.40% 2.30% 5.67% 10.19% 11.49% 7.88% 9.26% 7.05%
Operating Expenses to Revenue		 41.83% 104.75% 42.44% 45.39% 23.71% 46.18% 67.11% 81.97% 58.74% 66.68% 57.91%
Earnings before Interest and Taxes (EBIT)		 -2.94 -13 -4.73 -4.14 -0.31 -10 -10 -12 -8.60 -9.78 -8.31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.50 -12 -3.79 -3.49 1.03 -7.46 -6.44 -7.01 -5.06 -6.43 -5.58
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.77 4.04 3.64 11.70 5.23 6.98 9.53 0.72 1.13 1.05 1.35
Price to Tangible Book Value (P/TBV)		 2.66 4.04 3.64 11.70 5.40 7.20 9.98 0.73 1.15 1.06 1.38
Price to Revenue (P/Rev)		 2.52 1.82 2.22 8.17 3.68 7.69 6.66 1.04 1.08 1.19 0.85
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 3,034.23 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.82 4.62 5.10 24.14 8.10 11.12 9.81 0.55 1.16 1.06 1.27
Enterprise Value to Revenue (EV/Rev)		 2.43 1.75 2.00 8.17 3.40 7.24 6.64 0.50 0.93 0.92 1.04
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 107.58 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 58.40 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 3.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.01 0.03 0.00 0.00 0.02 0.13 1.34 0.34 0.44 0.41 0.79
Long-Term Debt to Equity		 0.01 0.02 0.00 0.00 0.01 0.13 0.68 0.34 0.44 0.41 0.79
Financial Leverage		 -0.14 -0.08 -0.26 -0.44 -0.43 -0.41 -0.28 -0.25 -0.29 -0.20 -0.03
Leverage Ratio		 1.20 1.37 1.75 1.32 1.50 1.69 2.32 2.36 1.88 2.02 2.21
Compound Leverage Factor		 1.18 1.38 1.77 1.34 1.24 1.69 2.59 2.84 1.91 2.14 2.29
Debt to Total Capital		 1.38% 3.01% 0.38% 0.00% 2.01% 11.14% 57.22% 25.23% 30.46% 29.31% 44.13%
Short-Term Debt to Total Capital		 0.66% 0.94% 0.38% 0.00% 1.28% 0.00% 28.13% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.72% 2.07% 0.00% 0.00% 0.73% 11.14% 29.09% 25.23% 30.46% 29.31% 44.13%
Preferred Equity to Total Capital		 0.00% 0.00% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.33%
Common Equity to Total Capital		 98.62% 96.99% 99.59% 100.00% 97.99% 88.86% 42.78% 74.77% 69.54% 70.69% 56.20%
Debt to EBITDA		 -0.21 -0.02 -0.01 0.00 0.46 -0.42 -2.65 -1.12 -1.50 -1.07 -1.47
Net Debt to EBITDA		 0.92 0.09 0.65 0.00 -9.03 1.36 0.06 1.25 0.56 0.62 -0.56
Long-Term Debt to EBITDA		 -0.11 -0.01 0.00 0.00 0.17 -0.42 -1.35 -1.12 -1.50 -1.07 -1.47
Debt to NOPAT		 -0.13 -0.02 -0.01 0.00 -1.17 -0.54 -2.28 -0.90 -1.39 -1.04 -1.41
Net Debt to NOPAT		 0.58 0.11 0.76 0.00 23.05 1.76 0.05 1.00 0.52 0.60 -0.54
Long-Term Debt to NOPAT		 -0.07 -0.01 0.00 0.00 -0.43 -0.54 -1.16 -0.90 -1.39 -1.04 -1.41
Altman Z-Score		 4.51 -2.21 -0.14 7.97 4.81 4.76 0.58 -1.70 -2.13 -3.02 -4.27
Noncontrolling Interest Sharing Ratio		 0.03% 0.00% 0.02% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.23%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.43 1.70 1.98 1.51 2.66 2.61 1.66 4.55 2.95 4.21 3.38
Quick Ratio		 1.42 0.65 0.89 0.52 1.55 0.32 0.12 3.11 0.42 0.49 0.73
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -2.15 6.75 -2.42 -2.83 -9.96 -6.75 -5.19 -11 -5.30 -4.91 -6.62
Operating Cash Flow to CapEx		 -334.82% 111.25% -2,680.75% -2,290.46% -180.54% -71.17% -636.23% -712.37% -144.97% -1,776.75% -2,802.82%
Free Cash Flow to Firm to Interest Expense		 -42.01 173.39 -52.75 -39.45 -528.87 -55.84 -3.36 -3.91 -9.60 -6.27 -8.92
Operating Cash Flow to Interest Expense		 -37.66 10.68 -72.25 -54.53 -241.45 -21.50 -4.67 -4.29 -7.57 -9.62 -8.23
Operating Cash Flow Less CapEx to Interest Expense		 -48.91 1.08 -74.94 -56.91 -375.19 -51.70 -5.40 -4.89 -12.79 -10.16 -8.52
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.53 0.70 0.98 1.20 1.38 0.56 0.42 0.38 0.47 0.43 0.55
Accounts Receivable Turnover		 3.25 3.36 5.94 5.87 7.52 4.79 7.18 7.49 6.57 5.25 5.67
Inventory Turnover		 2.56 2.47 2.26 2.46 5.29 3.80 3.05 3.25 3.26 2.66 2.54
Fixed Asset Turnover		 3.92 4.51 4.94 7.21 10.43 2.97 1.91 1.86 2.08 1.87 2.65
Accounts Payable Turnover		 4.35 4.36 5.52 5.73 7.89 6.11 8.39 10.15 7.94 7.66 10.69
Days Sales Outstanding (DSO)		 112.26 108.63 61.49 62.19 48.53 76.17 50.80 48.73 55.57 69.57 64.41
Days Inventory Outstanding (DIO)		 142.42 147.64 161.20 148.63 69.00 96.01 119.61 112.27 111.83 137.43 143.79
Days Payable Outstanding (DPO)		 83.90 83.65 66.17 63.71 46.29 59.74 43.49 35.94 45.95 47.62 34.14
Cash Conversion Cycle (CCC)		 170.77 172.62 156.52 147.12 71.24 112.44 126.92 125.06 121.44 159.37 174.06
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 21 5.25 4.45 4.14 14 15 12 15 14 13 13
Invested Capital Turnover		 0.74 1.05 2.34 2.85 3.66 1.59 1.35 1.19 1.24 1.08 1.26
Increase / (Decrease) in Invested Capital		 -0.23 -16 -0.80 -0.31 9.56 0.97 -2.29 2.20 -0.15 -1.73 0.80
Enterprise Value (EV)		 38 24 23 100 111 163 121 7.95 17 13 17
Market Capitalization		 40 25 25 100 120 173 122 17 20 17 14
Book Value per Share		 $0.57 $0.16 $0.16 $0.12 $1.12 $1.15 $0.60 $0.53 $3.02 $1.76 $1.08
Tangible Book Value per Share		 $0.38 $0.16 $0.16 $0.12 $1.08 $1.11 $0.57 $0.52 $2.96 $1.73 $1.05
Total Capital		 23 6.46 6.94 8.54 23 28 30 31 25 24 19
Total Debt		 0.32 0.19 0.03 0.00 0.47 3.11 17 7.86 7.57 6.90 8.19
Total Long-Term Debt		 0.17 0.13 0.00 0.00 0.17 3.11 8.69 7.86 7.57 6.90 8.19
Net Debt		 -1.37 -1.02 -2.47 0.00 -9.31 -10 -0.40 -8.73 -2.85 -3.96 3.12
Capital Expenditures (CapEx)		 0.58 0.37 0.12 0.17 2.52 3.65 1.13 1.69 2.89 0.42 0.22
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 6.13 2.35 2.20 2.35 7.67 2.58 2.11 4.98 4.17 4.87 6.17
Debt-free Net Working Capital (DFNWC)		 7.79 3.56 4.69 2.35 17 16 20 22 15 16 11
Net Working Capital (NWC)		 7.64 3.50 4.66 2.35 17 16 11 22 15 16 11
Net Nonoperating Expense (NNE)		 -0.19 7.22 1.24 0.67 -0.44 4.03 3.65 5.40 3.11 3.70 2.79
Net Nonoperating Obligations (NNO)		 -1.37 -1.02 -2.47 -4.40 -9.31 -10 -0.40 -8.73 -2.85 -3.96 3.12
Total Depreciation and Amortization (D&A)		 1.44 1.38 0.94 0.65 1.34 2.83 3.58 4.98 3.54 3.35 2.72
Debt-free, Cash-free Net Working Capital to Revenue		 38.76% 16.90% 19.39% 19.23% 23.50% 11.43% 11.55% 31.18% 23.15% 33.33% 37.36%
Debt-free Net Working Capital to Revenue		 49.28% 25.59% 41.31% 19.23% 53.48% 70.32% 107.26% 135.03% 81.05% 107.75% 68.08%
Net Working Capital to Revenue		 48.33% 25.15% 41.08% 19.23% 52.56% 70.32% 61.29% 135.03% 81.05% 107.75% 68.08%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.92) ($14.40) ($3.52) ($1.92) $0.00 ($3.68) ($4.16) ($3.20) ($1.51) ($1.64) ($0.89)
Adjusted Weighted Average Basic Shares Outstanding		 1.23M 1.15M 1.30M 2.28M 2.46M 2.65M 2.67M 4.42M 5.69M 6.31M 9.61M
Adjusted Diluted Earnings per Share		 ($1.92) ($14.40) ($3.52) ($1.92) $0.00 ($3.68) ($4.16) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 1.23M 1.15M 1.30M 2.28M 2.46M 2.65M 2.67M 5.66M 5.81M 9.61M 9.95M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($1.92) $0.00 $0.00 ($4.16) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.24M 1.15M 1.39M 2.00M 2.57M 2.71M 2.70M 5.66M 5.81M 9.61M 9.95M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.38 -4.05 -3.23 -3.14 -0.40 -5.78 -7.48 -7.45 -5.46 -6.64 -5.82
Normalized NOPAT Margin		 -15.05% -29.15% -28.43% -25.67% -1.24% -25.65% -40.94% -46.60% -30.33% -45.48% -35.23%
Pre Tax Income Margin		 -18.25% -94.91% -42.12% -34.17% -0.79% -45.61% -61.24% -90.14% -48.76% -71.10% -52.12%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -57.39 -337.51 -103.16 -57.63 -16.59 -85.13 -6.49 -4.27 -15.56 -12.49 -11.19
NOPAT to Interest Expense		 -46.45 -236.09 -70.28 -43.74 -21.45 -47.80 -4.85 -3.12 -9.88 -8.48 -7.83
EBIT Less CapEx to Interest Expense		 -68.64 -347.11 -105.85 -60.01 -150.33 -115.33 -7.22 -4.87 -20.78 -13.03 -11.48
NOPAT Less CapEx to Interest Expense		 -57.70 -245.68 -72.98 -46.12 -155.19 -78.00 -5.58 -3.72 -15.10 -9.02 -8.13
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -4.32% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for LiqTech International

This table displays calculated financial ratios and metrics derived from LiqTech International's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 5,727,310.00 5,807,340.00 5,807,340.00 5,819,272.00 9,449,401.00 9,606,024.00 9,614,043.00 9,614,043.00 - 9,947,841.00 9,947,841.00
DEI Adjusted Shares Outstanding		 5,727,310.00 5,807,340.00 5,807,340.00 5,819,272.00 9,449,401.00 9,606,024.00 9,614,043.00 9,614,043.00 - 9,947,841.00 9,947,841.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.56 -0.41 -0.36 -0.49 -0.32 -0.24 -0.22 -0.15 - -0.27 -0.30
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -2.28% 5.58% -10.12% -51.12% -13.33% 9.02% 10.53% 53.63% -8.24% -10.42% -11.98%
EBITDA Growth		 -23.45% 5.70% -70.07% -243.13% 13.13% -2.45% -17.77% 60.12% 0.35% -24.71% -12.60%
EBIT Growth		 -42.97% 4.45% -28.21% -90.10% 12.94% 1.91% -4.33% 48.77% 7.30% -10.61% -17.49%
NOPAT Growth		 0.94% 6.69% -30.17% -52.45% -19.99% -6.81% -1.12% 48.53% 3.07% -4.20% -10.52%
Net Income Growth		 -48.51% 0.05% -35.78% -100.85% 6.46% 1.25% -2.32% 48.61% 12.70% -15.55% -41.23%
EPS Growth		 -14.29% 0.00% 0.00% 0.00% 14.29% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 -117.64% 14.38% -23.90% -323.33% -65.72% 33.71% 11.65% 38.85% -6.25% -49.67% -92.19%
Free Cash Flow Firm Growth		 61.94% 101.64% 116.31% 69.11% 86.03% -1,508.68% -615.56% -3.09% -1,214.84% -197.49% -33.70%
Invested Capital Growth		 -1.06% -9.79% -11.24% -7.35% -12.01% -6.87% -1.05% -1.40% 6.33% 1.42% 1.13%
Revenue Q/Q Growth		 -22.50% 7.78% 5.90% -44.75% 37.44% 35.57% 7.36% -23.20% -17.91% 32.35% 5.50%
EBITDA Q/Q Growth		 -341.45% 38.32% 17.65% -53.02% -11.76% 27.25% 5.33% 48.18% -179.24% 8.96% 14.52%
EBIT Q/Q Growth		 -132.01% 31.16% 11.64% -34.72% -6.25% 22.44% 6.02% 33.85% -92.28% 7.46% 0.18%
NOPAT Q/Q Growth		 -35.65% 11.22% -1.98% -24.13% -6.77% 20.97% 3.45% 36.82% -101.09% 15.05% -2.40%
Net Income Q/Q Growth		 -127.13% 25.65% 11.58% -34.51% -5.78% 21.51% 8.38% 32.44% -79.69% -3.89% -11.98%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 -254.56% -61.68% 6.83% 4.07% -14.69% 35.32% -24.16% 33.61% -99.30% 8.90% -59.44%
Free Cash Flow Firm Q/Q Growth		 37.29% 102.90% 511.41% -377.54% 71.63% -192.61% -123.77% 44.50% -261.83% 33.80% -0.57%
Invested Capital Q/Q Growth		 -3.13% -5.78% -0.08% 1.58% -7.99% -0.27% 6.17% 1.22% -0.78% -4.87% 5.86%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 6.95% 6.40% 15.99% -8.46% -15.50% 2.71% 9.77% 19.64% -3.42% 9.52% 8.38%
EBITDA Margin		 -59.05% -33.79% -26.28% -72.78% -59.18% -31.75% -28.00% -18.89% -64.27% -44.21% -35.82%
Operating Margin		 -58.65% -48.31% -46.52% -104.51% -81.19% -47.33% -42.56% -35.01% -85.77% -55.05% -53.44%
EBIT Margin		 -83.33% -53.22% -44.41% -108.27% -83.70% -47.89% -41.92% -36.10% -84.57% -59.13% -55.95%
Profit (Net Income) Margin		 -81.74% -56.39% -47.08% -114.62% -88.22% -51.07% -43.59% -38.34% -83.93% -65.88% -69.93%
Tax Burden Percent		 95.17% 99.40% 99.33% 99.65% 99.99% 99.99% 99.98% 99.97% 99.99% 99.99% 99.99%
Interest Burden Percent		 103.07% 106.60% 106.73% 106.24% 105.40% 106.67% 104.00% 106.23% 99.26% 111.44% 125.02%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -50.97% -43.02% -39.97% -77.18% -61.23% -37.84% -34.10% -30.04% -75.70% -48.46% -42.72%
ROIC Less NNEP Spread (ROIC-NNEP)		 -23.37% -17.08% -1.91% 24.69% -29.87% 11.50% -202.90% -63.02% 101.43% -127.14% -20.38%
Return on Net Nonoperating Assets (RNNOA)		 6.67% 3.49% 0.20% -1.62% 6.00% -1.30% -6.27% -8.32% -3.16% -16.16% 6.52%
Return on Equity (ROE)		 -44.30% -39.53% -39.77% -78.80% -55.23% -39.14% -40.37% -38.36% -78.87% -64.62% -36.21%
Cash Return on Invested Capital (CROIC)		 -36.59% -27.10% -27.54% -36.43% -36.22% -44.24% -48.96% -41.49% -50.56% -47.55% -45.79%
Operating Return on Assets (OROA)		 -39.42% -27.67% -23.88% -49.96% -35.74% -22.45% -21.49% -20.54% -46.76% -32.95% -24.79%
Return on Assets (ROA)		 -38.67% -29.32% -25.32% -52.89% -37.67% -23.94% -22.35% -21.81% -46.41% -36.71% -30.98%
Return on Common Equity (ROCE)		 -44.30% -39.53% -39.77% -78.80% -55.23% -39.13% -40.37% -38.41% -79.05% -64.82% -36.31%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -58.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.61 -1.43 -1.46 -1.81 -1.94 -1.53 -1.48 -0.93 -1.88 -1.59 -1.63
NOPAT Margin		 -41.05% -33.82% -32.57% -73.16% -56.83% -33.13% -29.79% -24.51% -60.04% -38.54% -37.41%
Net Nonoperating Expense Percent (NNEP)		 -27.60% -25.94% -38.05% -101.87% -31.36% -49.34% 168.81% 32.98% -177.13% 78.68% -22.35%
Return On Investment Capital (ROIC_SIMPLE)		 -6.49% -6.72% -7.66% -9.89% -8.22% -6.62% -6.68% -4.45% -10.11% -10.24% -5.58%
Cost of Revenue to Revenue		 93.05% 93.60% 84.01% 108.46% 115.50% 97.29% 90.23% 80.36% 103.42% 90.48% 91.62%
SG&A Expenses to Revenue		 58.27% 48.69% 53.43% 84.82% 53.61% 45.05% 47.44% 47.58% 68.86% 57.90% 55.59%
R&D to Revenue		 7.32% 6.02% 9.08% 11.23% 12.08% 4.98% 4.89% 7.08% 13.49% 6.68% 6.23%
Operating Expenses to Revenue		 65.59% 54.71% 62.51% 96.05% 65.69% 50.04% 52.33% 54.66% 82.35% 64.57% 61.81%
Earnings before Interest and Taxes (EBIT)		 -3.27 -2.25 -1.99 -2.68 -2.85 -2.21 -2.08 -1.37 -2.64 -2.45 -2.44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -2.32 -1.43 -1.18 -1.80 -2.02 -1.47 -1.39 -0.72 -2.01 -1.83 -1.56
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.13 1.23 1.11 1.30 1.05 0.95 1.10 1.97 1.35 2.49 0.33
Price to Tangible Book Value (P/TBV)		 1.15 1.26 1.14 1.33 1.06 0.97 1.13 2.02 1.38 2.58 0.33
Price to Revenue (P/Rev)		 1.08 0.98 0.77 0.98 1.19 0.96 1.00 1.51 0.85 1.19 0.55
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.16 1.25 1.10 1.25 1.06 0.94 1.11 1.92 1.27 1.89 0.00
Enterprise Value to Revenue (EV/Rev)		 0.93 0.93 0.85 1.14 0.92 0.79 0.96 1.55 1.04 1.51 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.44 0.47 0.55 0.60 0.41 0.53 0.59 0.64 0.79 1.06 0.13
Long-Term Debt to Equity		 0.44 0.47 0.55 0.60 0.41 0.53 0.59 0.64 0.79 1.06 0.09
Financial Leverage		 -0.29 -0.20 -0.11 -0.07 -0.20 -0.11 0.03 0.13 -0.03 0.13 -0.32
Leverage Ratio		 1.88 1.95 2.04 2.14 2.02 2.16 2.30 2.44 2.21 2.54 1.75
Compound Leverage Factor		 1.93 2.07 2.18 2.27 2.12 2.30 2.39 2.59 2.19 2.83 2.19
Debt to Total Capital		 30.46% 31.80% 35.63% 37.68% 29.31% 34.79% 36.99% 39.02% 44.13% 51.50% 11.78%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.89%
Long-Term Debt to Total Capital		 30.46% 31.80% 35.63% 37.68% 29.31% 34.79% 36.99% 39.02% 44.13% 51.50% 7.89%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% -0.01% -0.15% -0.33% -0.49% -0.38%
Common Equity to Total Capital		 69.54% 68.20% 64.37% 62.32% 70.69% 65.18% 63.02% 61.12% 56.20% 48.99% 88.60%
Debt to EBITDA		 -1.50 -1.36 -1.25 -1.03 -1.07 -1.24 -1.23 -1.46 -1.47 -1.35 -0.56
Net Debt to EBITDA		 0.56 0.19 -0.24 -0.35 0.62 0.37 0.07 -0.15 -0.56 -0.89 2.00
Long-Term Debt to EBITDA		 -1.50 -1.36 -1.25 -1.03 -1.07 -1.24 -1.23 -1.46 -1.47 -1.35 -0.38
Debt to NOPAT		 -1.39 -1.27 -1.19 -1.09 -1.04 -1.19 -1.21 -1.39 -1.41 -1.36 -0.57
Net Debt to NOPAT		 0.52 0.18 -0.23 -0.38 0.60 0.36 0.07 -0.14 -0.54 -0.90 2.02
Long-Term Debt to NOPAT		 -1.39 -1.27 -1.19 -1.09 -1.04 -1.19 -1.21 -1.39 -1.41 -1.36 -0.38
Altman Z-Score		 -1.64 -2.02 -2.59 -2.91 -2.32 -2.51 -2.67 -2.46 -3.59 -4.09 -2.42
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% -0.01% -0.13% -0.23% -0.31% -0.29%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.95 2.93 2.75 2.66 4.21 3.80 3.61 3.50 3.38 2.50 4.37
Quick Ratio		 0.42 0.41 0.45 0.39 0.49 0.62 0.75 0.70 0.73 0.65 0.82
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1.46 0.04 0.26 -0.72 -0.20 -0.60 -1.33 -0.74 -2.68 -1.77 -1.78
Operating Cash Flow to CapEx		 -193.67% 0.00% -833.87% -483.17% -507.41% -1,170.11% 0.00% -853.69% -4,757.78% -719.80% 0.00%
Free Cash Flow to Firm to Interest Expense		 -7.21 0.19 1.44 -3.75 -1.05 -2.76 -9.03 -4.94 -11.74 -5.98 -2.82
Operating Cash Flow to Interest Expense		 -5.99 -8.99 -10.13 -9.13 -10.34 -6.00 -10.90 -7.13 -9.33 -6.55 -4.89
Operating Cash Flow Less CapEx to Interest Expense		 -9.08 -6.45 -11.35 -11.02 -12.38 -6.51 -10.47 -7.96 -9.53 -7.46 -4.87
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.47 0.52 0.54 0.46 0.43 0.47 0.51 0.57 0.55 0.56 0.44
Accounts Receivable Turnover		 6.57 6.70 6.15 4.88 5.25 4.88 4.48 5.51 5.67 4.51 3.31
Inventory Turnover		 3.26 3.14 3.09 2.60 2.66 2.65 2.80 2.52 2.54 2.38 2.45
Fixed Asset Turnover		 2.08 2.39 2.45 1.92 1.87 2.18 2.31 2.53 2.65 2.65 2.63
Accounts Payable Turnover		 7.94 7.11 8.21 7.13 7.66 7.59 9.31 8.67 10.69 7.65 9.56
Days Sales Outstanding (DSO)		 55.57 54.51 59.37 74.82 69.57 74.86 81.46 66.24 64.41 80.90 110.30
Days Inventory Outstanding (DIO)		 111.83 116.41 118.17 140.28 137.43 137.65 130.38 145.11 143.79 153.39 149.19
Days Payable Outstanding (DPO)		 45.95 51.32 44.44 51.21 47.62 48.10 39.19 42.09 34.14 47.74 38.19
Cash Conversion Cycle (CCC)		 121.44 119.60 133.11 163.89 159.37 164.41 172.65 169.26 174.06 186.55 221.30
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 14 14 14 14 13 13 13 14 13 13 14
Invested Capital Turnover		 1.24 1.27 1.23 1.06 1.08 1.14 1.14 1.23 1.26 1.26 1.14
Increase / (Decrease) in Invested Capital		 -0.15 -1.47 -1.72 -1.09 -1.73 -0.93 -0.14 -0.19 0.80 0.18 0.15
Enterprise Value (EV)		 17 17 15 17 13 12 15 26 17 24 -3.88
Market Capitalization		 20 18 14 15 17 14 15 25 14 19 8.45
Book Value per Share		 $3.02 $2.50 $2.11 $1.96 $1.76 $1.57 $1.45 $1.33 $1.08 $0.77 $2.60
Tangible Book Value per Share		 $2.96 $2.45 $2.06 $1.91 $1.73 $1.54 $1.42 $1.30 $1.05 $0.75 $2.58
Total Capital		 25 21 19 18 24 23 22 21 19 16 29
Total Debt		 7.57 6.78 6.79 6.91 6.90 8.04 8.18 8.18 8.19 8.02 3.45
Total Long-Term Debt		 7.57 6.78 6.79 6.91 6.90 8.04 8.18 8.18 8.19 8.02 2.31
Net Debt		 -2.85 -0.95 1.30 2.37 -3.96 -2.41 -0.49 0.82 3.12 5.29 -12
Capital Expenditures (CapEx)		 0.62 -0.55 0.22 0.36 0.40 0.11 -0.06 0.13 0.04 0.27 -0.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 4.17 5.05 5.43 5.43 4.87 4.96 5.64 6.05 6.17 5.75 6.85
Debt-free Net Working Capital (DFNWC)		 15 13 11 9.96 16 15 14 13 11 8.48 23
Net Working Capital (NWC)		 15 13 11 9.96 16 15 14 13 11 8.48 21
Net Nonoperating Expense (NNE)		 1.60 0.96 0.65 1.03 1.07 0.83 0.68 0.53 0.75 1.13 1.42
Net Nonoperating Obligations (NNO)		 -2.85 -0.95 1.30 2.37 -3.96 -2.41 -0.49 0.82 3.12 5.29 -12
Total Depreciation and Amortization (D&A)		 0.95 0.82 0.81 0.88 0.84 0.74 0.69 0.66 0.63 0.62 0.88
Debt-free, Cash-free Net Working Capital to Revenue		 23.15% 27.72% 30.66% 35.88% 33.33% 33.08% 36.47% 36.05% 37.36% 35.88% 44.40%
Debt-free Net Working Capital to Revenue		 81.05% 70.11% 61.64% 65.86% 107.75% 102.79% 92.58% 79.86% 68.08% 52.94% 145.84%
Net Working Capital to Revenue		 81.05% 70.11% 61.64% 65.86% 107.75% 102.79% 92.58% 79.86% 68.08% 52.94% 138.47%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.56) ($0.41) ($0.36) ($0.49) ($0.48) ($0.25) ($0.22) ($0.15) ($0.27) ($0.28) ($0.14)
Adjusted Weighted Average Basic Shares Outstanding		 5.69M 5.80M 5.81M 5.82M 6.31M 9.60M 9.61M 9.62M 9.61M 9.85M 20.81M
Adjusted Diluted Earnings per Share		 ($0.56) $0.00 $0.00 $0.00 ($0.48) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 5.81M 5.81M 5.82M 9.45M 9.61M 9.61M 9.61M 9.63M 9.95M 9.95M 32.95M
Adjusted Basic & Diluted Earnings per Share		 ($0.56) $0.00 $0.00 $0.00 ($0.48) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 5.81M 5.81M 5.82M 9.45M 9.61M 9.61M 9.61M 9.63M 9.95M 9.95M 32.95M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.61 -1.43 -1.46 -1.81 -1.94 -1.53 -1.48 -0.93 -1.88 -1.59 -1.63
Normalized NOPAT Margin		 -41.05% -33.82% -32.57% -73.16% -56.83% -33.13% -29.79% -24.51% -60.04% -38.54% -37.41%
Pre Tax Income Margin		 -85.89% -56.73% -47.40% -115.03% -88.22% -51.08% -43.59% -38.35% -83.94% -65.89% -69.94%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -16.20 -10.35 -11.07 -14.01 -14.70 -10.22 -14.06 -9.16 -11.57 -8.25 -3.86
NOPAT to Interest Expense		 -7.98 -6.58 -8.12 -9.47 -9.98 -7.07 -9.99 -6.22 -8.22 -5.38 -2.58
EBIT Less CapEx to Interest Expense		 -19.29 -7.82 -12.29 -15.90 -16.74 -10.73 -13.63 -10.00 -11.77 -9.16 -3.84
NOPAT Less CapEx to Interest Expense		 -11.07 -4.04 -9.33 -11.36 -12.02 -7.58 -9.57 -7.06 -8.41 -6.28 -2.56
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

LiqTech International’s latest statements show improved liquidity and revenue growth from the first quarter, but the company remains deeply unprofitable and dependent on external financing. Revenue increased from $3.1 million in Q4 2025 to $4.1 million in Q1 2026 and $4.4 million in Q2 2026. However, Q2 revenue was still approximately 12% below the restated year-ago figure of $5.0 million and remained well below the $5.1 million reported in Q3 2023.

Gross profit was $365,539 in Q2 2026, producing an 8.4% gross margin. That was an improvement from the negative gross profit recorded in Q4 2025, but below the 9.8% margin in the restated Q2 2025 results. Operating expenses remained elevated at $2.7 million, resulting in a $2.3 million operating loss. The company reported a $3.1 million net loss attributable to common shareholders, compared with losses in every comparable quarter provided.

Cash generation remains a major concern. LiqTech used $3.1 million in operating cash during Q2 2026, following cash operating losses of $1.9 million in Q1 2026 and $2.1 million in Q4 2025. Q2’s $12.9 million increase in cash was driven primarily by $16.1 million of financing inflows rather than by operations. The balance sheet did improve materially, with total assets rising to $37.9 million and total equity increasing to $25.8 million at June 30, 2026, but investors should note that a large portion of current assets consisted of restricted cash.

  • Revenue recovered sequentially: Q2 2026 revenue rose approximately 5.5% from Q1 2026, reversing the decline seen between Q3 and Q4 2025.
  • Gross profitability returned: The company generated positive gross profit in Q1 and Q2 2026 after reporting negative gross profit in Q4 2025, indicating some improvement in production economics.
  • Liquidity strengthened: Total current assets increased from $14.1 million in Q1 2026 to $27.7 million in Q2, while total liabilities declined from $17.4 million to $12.1 million.
  • Debt composition changed significantly: Long-term debt fell from $6.8 million to $1.2 million during Q2, but the company also reported $1.1 million of short-term debt and $1.1 million of capital lease obligations.
  • Restricted cash is substantial: Restricted cash reached $15.7 million, more than half of total current assets. This supports reported liquidity but may not be freely available for ordinary operating needs.
  • Operating losses remain persistent: LiqTech has reported a negative operating income in every listed quarter, including a $2.3 million operating loss in Q2 2026.
  • Net losses are worsening: The Q2 2026 net loss of $3.1 million was larger than the $2.7 million loss in Q1 and the $2.2 million restated loss in Q2 2025.
  • Interest expense surged: Q2 2026 interest expense reached $633,111, more than double the Q1 amount and substantially above the $147,784 reported in the restated year-ago quarter.
  • Operations continue to consume cash: Negative operating cash flow in each recent quarter means the company is not yet funding its business from internally generated cash.
  • Potential dilution risk increased: Weighted average basic shares rose from 9.8 million in Q1 2026 to 20.8 million in Q2, while the diluted share figure reached 32.9 million. Investors should monitor future equity issuance and its effect on per-share value.
08/27/26 02:56 AM ETAI Generated. May Contain Errors.

LiqTech International Financials - Frequently Asked Questions

According to the most recent income statement we have on file, LiqTech International's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

LiqTech International's net income appears to be on an upward trend, with a most recent value of -$8.60 million in 2025, rising from -$2.19 million in 2015. The previous period was -$10.35 million in 2024. View LiqTech International's forecast to see where analysts expect LiqTech International to go next.

LiqTech International's total operating income in 2025 was -$8.31 million, based on the following breakdown:
  • Total Gross Profit: $1.25 million
  • Total Operating Expenses: $9.56 million

Over the last 10 years, LiqTech International's total revenue changed from $15.81 million in 2015 to $16.51 million in 2025, a change of 4.4%.

LiqTech International's total liabilities were at $16.91 million at the end of 2025, a 7.2% increase from 2024, and a 207.0% increase since 2015.

Over the last 10 years, LiqTech International's book value per share changed from 0.57 in 2015 to 1.08 in 2025, a change of 89.8%.


Related Companies

Financial statements for NASDAQ:LIQT last updated on 8/21/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
ALERT: Drop these 5 stocks before the market opens tomorrow!
The Wall Street Journal is already raising the alarm about a potential market crash, and Weiss Ratings researc...
Weiss Ratings | Sponsoredtc pixel
Louis Navellier: My #1 AI stock for 2026 (name & ticker inside)
Louis Navellier's Stock Grader system helped him flag Nvidia before its 82,000% run and has identified the top...
InvestorPlace | Sponsoredtc pixel
Ready to give options a try? Your first trade (Ticker included) -INSIDE
Tired of trying tactic after tactic when it comes to options trades... only to be met with market noise and st...
Base Camp Trading | Sponsoredtc pixel
Trump Takes Emergency Action - Plus Elon Musk's New Venture
Elon Musk has quietly launched a new venture - one that has nothing to do with rockets, EVs, or Neuralink. Tru...
Altimetry | Sponsoredtc pixel
Iran War Shock: What I Was Told In That Private Meeting
You’re Being LIED To About The Iran War Forget EVERYTHING you’ve heard about the Iran war. Especially th...
Banyan Hill Publishing | Sponsoredtc pixel
My top 3 AI picks for the next decade
Alexander Green bought Apple in 1996, recommended Nvidia at a split-adjusted 66 cents in 2004, and picked up A...
The Oxford Club | Sponsoredtc pixel
Buy this stock today
Marc Chaikin, founder of Chaikin Analytics, is sharing a strategy he calls 'Sell This, Buy That' - a way to mo...
Chaikin Analytics | Sponsoredtc pixel
Here’s the stock symbol I’ve promised
Whitney Tilson of Stansberry Research has long recommended Berkshire Hathaway as a core retirement holding - b...
Stansberry Research | Sponsoredtc pixel