Liquidity Services Company Profile (NASDAQ:LQDT)

About Liquidity Services

Liquidity Services logoLiquidity Services, Inc. operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company's marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information. Additionally, the Company enables its corporate and government sellers to enhance their financial return on assets offered for sale by providing a liquid marketplace and value-added services. The Company's range of services include program management, valuation, asset management, reconciliation, Return to Vendor and Returns Management Authorization (RTV and RMA), refurbishment and recycling, fulfillment, marketing and sales, warehousing and transportation, buyer customer support, and compliance and risk mitigation.

Industry, Sector and Symbol:
  • Sector: Business Services
  • Industry: Catalog & Mail Order Houses
  • Sub-Industry: Internet Software & Services
  • Exchange: NASDAQ
  • Symbol: LQDT
  • CUSIP: 53635B10
Key Metrics:
  • Previous Close: $8.35
  • 50 Day Moving Average: $9.40
  • 200 Day Moving Average: $9.62
  • 52-Week Range: $4.50 - $11.49
  • Trailing P/E Ratio: N/A
  • Foreward P/E Ratio: -35.65
  • P/E Growth: 0.86
  • Market Cap: $258.97M
  • Outstanding Shares: 31,390,000
  • Beta: 0.62
Profitability:
  • Net Margins: -19.64%
  • Return on Equity: -6.93%
  • Return on Assets: -4.76%
Debt:
  • Current Ratio: 2.06%
  • Quick Ratio: 1.75%
Additional Links:
Companies Related to Liquidity Services:

Analyst Ratings

Consensus Ratings for Liquidity Services (NASDAQ:LQDT) (?)
Ratings Breakdown: 2 Hold Ratings, 1 Buy Rating
Consensus Rating:Hold (Score: 2.33)
Consensus Price Target: $6.50 (20.73% downside)

Analysts' Ratings History for Liquidity Services (NASDAQ:LQDT)
Show:
DateFirmActionRatingPrice TargetDetails
5/8/2016Robert W. BairdReiterated RatingHoldView Rating Details
5/6/2016Benchmark Co.Boost Price TargetHold$5.50 -> $6.50View Rating Details
5/5/2016Barrington ResearchReiterated RatingBuyView Rating Details
2/6/2016Bank of America CorpReiterated RatingUnderperform$7.00 -> $6.00View Rating Details
2/5/2016Royal Bank Of CanadaReiterated RatingSector Perform$8.00 -> $6.00View Rating Details
(Data available from 2/23/2015 forward)

Earnings

Earnings History for Liquidity Services (NASDAQ:LQDT)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
5/3/2017        
2/9/2017Q117($0.29)($0.22)$69.97 million$70.80 millionViewListenView Earnings Details
11/17/2016Q416($0.08)($0.02)$77.21 million$78.50 millionViewListenView Earnings Details
8/4/2016Q316($0.09)$0.07$72.48 million$85.18 millionViewListenView Earnings Details
5/5/2016Q216($0.07)$0.04$69.01 million$86.90 millionViewListenView Earnings Details
2/4/2016Q116($0.05)($0.11)$74.11 million$65.90 millionViewListenView Earnings Details
11/19/2015Q415($0.09)$0.07$81.12 million$79.30 millionViewListenView Earnings Details
8/6/2015Q315$0.10$0.14$96.81 million$89.70 millionViewListenView Earnings Details
5/7/2015Q215$0.07$0.08$96.83 million$102.90 millionViewListenView Earnings Details
2/5/2015Q115$0.16$0.38$110.32 million$125.10 millionViewListenView Earnings Details
11/20/2014Q414$0.15$0.13$105.10 million$118.40 millionViewListenView Earnings Details
8/7/2014Q314$0.27$0.31$122.90 million$127.00 millionViewListenView Earnings Details
5/8/2014Q214$0.35$0.25$120.18 million$128.33 millionViewListenView Earnings Details
2/7/2014Q1$0.16$0.32$104.26 million$93.47 millionViewListenView Earnings Details
11/21/2013Q4$0.45$0.41$124.50 million$129.10 millionViewListenView Earnings Details
5/2/2013Q2 2013$0.48$0.48$140.14 million$130.32 millionViewListenView Earnings Details
1/31/2013Q1 2013$0.38$0.41$131.54 million$122.20 millionViewListenView Earnings Details
11/29/20120.40$0.40$122.30 millionViewListenView Earnings Details
7/31/2012$0.46$0.56ViewN/AView Earnings Details
5/3/2012$0.35$0.52ViewN/AView Earnings Details
2/1/2012$0.27$0.37ViewN/AView Earnings Details
12/6/2011$0.19$0.14ViewN/AView Earnings Details
8/2/2011$0.20$0.26ViewN/AView Earnings Details
5/5/2011$0.13$0.22ViewN/AView Earnings Details
2/3/2011$0.10$0.17ViewN/AView Earnings Details
(Data available from 1/1/2011 forward)

Estimates

Earnings Estimates for Liquidity Services (NASDAQ:LQDT)
Current Year EPS Consensus Estimate: $-0.59 EPS
Next Year EPS Consensus Estimate: $-0.23 EPS
QuarterNumber of EstimatesLow EstimateHigh EstimateAverage Estimate
Q4 20161($0.19)($0.19)($0.19)
Q1 20171($0.13)($0.13)($0.13)
Q2 20171($0.30)($0.30)($0.30)
Q3 20171($0.26)($0.26)($0.26)
Q4 20171($0.10)($0.10)($0.10)
Q1 20181($0.15)($0.15)($0.15)
Q2 20181($0.10)($0.10)($0.10)
Q3 20181($0.05)($0.05)($0.05)
Q4 20181($0.03)($0.03)($0.03)
(Data provided by Zacks Investment Research)

Dividends

Dividend History for Liquidity Services (NASDAQ:LQDT)
No dividend announcements for this company have been tracked by MarketBeat.com

Insider Trades

Insider Trading History for Liquidity Services (NASDAQ:LQDT)
Insider Ownership Percentage: 22.30%
Institutional Ownership Percentage: 65.04%
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
12/15/2016William P. Angrick IIIChairmanSell95,000$10.02$951,900.00View SEC Filing  
11/1/2016Segundo Leoncio CasusolInsiderSell27,634$8.56$236,547.04View SEC Filing  
10/10/2016Jorge CelayaCFOSell12,061$10.10$121,816.10View SEC Filing  
10/10/2016Mark A ShafferVPSell1,145$10.10$11,564.50View SEC Filing  
10/10/2016Segundo Leoncio CasusolInsiderSell6,945$10.10$70,144.50View SEC Filing  
10/5/2016Gardner H DudleyInsiderSell2,006$10.51$21,083.06View SEC Filing  
10/5/2016Jorge CelayaCFOSell7,073$10.51$74,337.23View SEC Filing  
10/5/2016Mark A ShafferVPSell671$10.51$7,052.21View SEC Filing  
10/4/2016Gardner H DudleyInsiderSell838$10.52$8,815.76View SEC Filing  
10/4/2016Jorge CelayaCFOSell2,955$10.52$31,086.60View SEC Filing  
10/4/2016Mark A ShafferVPSell280$10.52$2,945.60View SEC Filing  
10/3/2016Gardner H DudleyInsiderSell1,882$10.65$20,043.30View SEC Filing  
10/3/2016Jorge CelayaCFOSell6,636$10.65$70,673.40View SEC Filing  
10/3/2016Mark A ShafferVPSell630$10.65$6,709.50View SEC Filing  
9/7/2016Segundo Leoncio CasusolInsiderSell7,500$10.18$76,350.00View SEC Filing  
8/18/2016Segundo Leoncio CasusolInsiderSell32,648$9.60$313,420.80View SEC Filing  
7/1/2016James M RalloInsiderSell3,054$7.92$24,187.68View SEC Filing  
4/1/2016James M RalloInsiderSell7,716$5.13$39,583.08View SEC Filing  
4/1/2016William P Angrick IIICEOSell6,167$5.13$31,636.71View SEC Filing  
11/25/2015Jaime Mateus-TiqueDirectorSell12,000$6.68$80,160.00View SEC Filing  
11/3/2015Segundo Leoncio CasusolInsiderSell55,269$8.31$459,285.39View SEC Filing  
10/2/2015Gardner H DudleyInsiderSell8,740$7.23$63,190.20View SEC Filing  
10/2/2015James Edwin WilliamsVPSell6,409$7.23$46,337.07View SEC Filing  
10/2/2015Kathryn Ann DominoCAOSell5,042$7.23$36,453.66View SEC Filing  
10/2/2015William P. Angrick IIICEOSell24,561$7.23$177,576.03View SEC Filing  
2/26/2015James M RalloCFOSell11,511$10.00$115,110.00View SEC Filing  
2/19/2015Gardner H DudleyInsiderSell2,922$9.60$28,051.20View SEC Filing  
10/1/2014James Edwin WilliamsVPSell4,216$12.88$54,302.08View SEC Filing  
10/1/2014Thomas B BurtonEVPSell5,707$12.88$73,506.16View SEC Filing  
10/1/2014William P Angrick IIICEOSell23,171$12.88$298,442.48View SEC Filing  
5/15/2014Kathryn Ann DominoCAOBuy7,330$13.51$99,028.30View SEC Filing  
5/12/2014Jaime Mateus-TiqueDirectorBuy180,000$12.64$2,275,200.00View SEC Filing  
5/12/2014James RalloCFOBuy35,720$12.54$447,928.80View SEC Filing  
5/8/2014G Cayce RoyVPSell100,365$13.31$1,335,858.15View SEC Filing  
4/14/2014G Cayce RoyVPSell60,220$18.49$1,113,467.80View SEC Filing  
3/27/2014Jaime Mateus-TiqueDirectorBuy15,000$24.76$371,400.00View SEC Filing  
3/12/2014Jaime Mateus-TiqueDirectorBuy20,000$26.19$523,800.00View SEC Filing  
3/6/2014Segundo Leoncio CasusolInsiderSell12,278$26.53$325,735.34View SEC Filing  
3/5/2014Jaime Mateus-TiqueDirectorBuy20,000$25.37$507,400.00View SEC Filing  
2/20/2014Jaime Mateus-TiqueDirectorBuy50,000$24.91$1,245,500.00View SEC Filing  
2/18/2014Jaime Mateus-TiqueDirectorBuy30,000$24.68$740,400.00View SEC Filing  
9/12/2013William Angrick IIICEOSell150,000$36.95$5,542,500.00View SEC Filing  
9/11/2013James Edwin WilliamsVPSell4,290$35.91$154,053.90View SEC Filing  
9/11/2013James RalloCFOSell8,541$35.77$305,511.57View SEC Filing  
9/11/2013William P Angrick IIICEOSell450,000$34.96$15,732,000.00View SEC Filing  
8/15/2013G Cayce RoyVPSell10,000$32.55$325,500.00View SEC Filing  
7/2/2013James M RalloCFOSell24,299$35.00$850,465.00View SEC Filing  
6/5/2013William P Angrick IIICEOSell200,000$39.80$7,960,000.00View SEC Filing  
6/3/2013G Cayce RoyVPSell4,212$39.80$167,637.60View SEC Filing  
5/30/2013James Edwin WilliamsVPSell9,964$40.00$398,560.00View SEC Filing  
5/29/2013George H EllisDirectorBuy1,160$39.07$45,321.20View SEC Filing  
4/10/2013William P Angrick IIICEOSell110,000$33.25$3,657,500.00View SEC Filing  
3/11/2013G Cayce RoyVPSell20,000$31.36$627,200.00View SEC Filing  
(Data available from 1/1/2013 forward)

Headlines

Latest Headlines for Liquidity Services (NASDAQ:LQDT)
DateHeadline
4-traders.com logoLiquidity Services : Expands in the U.K. (NASDAQ:LQDT)
www.4-traders.com - February 17 at 1:24 PM
finance.yahoo.com logoLiquidity Services Expands in the U.K. (NASDAQ:LQDT)
finance.yahoo.com - February 17 at 1:24 PM
finance.yahoo.com logoZacks Industry Outlook Highlights: Copart, Liquidity Services, S&P Global and TransUnion (NASDAQ:LQDT)
finance.yahoo.com - February 16 at 5:55 PM
finance.yahoo.com logoLIQUIDITY SERVICES INC Financials (NASDAQ:LQDT)
finance.yahoo.com - February 16 at 5:55 PM
marketexclusive.com logoLIQUIDITY SERVICES,INC. (NASDAQ:LQDT) Files An 8-K Regulation FD Disclosure (NASDAQ:LQDT)
marketexclusive.com - February 14 at 7:51 PM
News IconLiquidity Services, Inc. (LQDT) Updates Q2 Earnings Guidance (NASDAQ:LQDT)
cote-ivoire.com - February 11 at 5:11 AM
biz.yahoo.com logoLIQUIDITY SERVICES INC Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits (NASDAQ:LQDT)
biz.yahoo.com - February 10 at 7:10 PM
finance.yahoo.com logoEdited Transcript of LQDT earnings conference call or presentation 9-Feb-17 3:30pm GMT (NASDAQ:LQDT)
finance.yahoo.com - February 10 at 12:22 AM
us.rd.yahoo.com logoLiquidity Services Announces First Quarter Fiscal Year 2017 Financial Results (NASDAQ:LQDT)
us.rd.yahoo.com - February 9 at 7:21 PM
biz.yahoo.com logoLIQUIDITY SERVICES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Ex (NASDAQ:LQDT)
us.rd.yahoo.com - February 9 at 7:21 PM
biz.yahoo.com logoQ1 2017 Liquidity Services Inc Earnings Release - Before Market Open (NASDAQ:LQDT)
us.rd.yahoo.com - February 9 at 7:21 PM
sg.finance.yahoo.com logoLiquidity Services reports 1Q loss (NASDAQ:LQDT)
sg.finance.yahoo.com - February 9 at 7:21 PM
fool.com logoLosses Mount at Liquidity Services as Business Challenges Continue (NASDAQ:LQDT)
www.fool.com - February 9 at 7:21 PM
capitalcube.com logoLiquidity Services, Inc. – Value Analysis (NASDAQ:LQDT) : February 8, 2017 (NASDAQ:LQDT)
www.capitalcube.com - February 8 at 7:07 PM
capitalcube.com logoLiquidity Services, Inc. breached its 50 day moving average in a Bearish Manner : LQDT-US : February 7, 2017 (NASDAQ:LQDT)
www.capitalcube.com - February 7 at 7:40 PM
News IconHarber Asset Management LLC Has Lowered Its Liquidity Services INC (LQDT) Stake by $11.19 Million (NASDAQ:LQDT)
randolphguide.com - February 6 at 6:28 PM
4-traders.com logoLiquidity Services : Announces First Quarter Fiscal Year 2017 Earnings Conference Call (NASDAQ:LQDT)
www.4-traders.com - January 25 at 5:08 AM
finance.yahoo.com logoLiquidity Services Announces First Quarter Fiscal Year 2017 Earnings Conference Call (NASDAQ:LQDT)
finance.yahoo.com - January 24 at 7:03 PM
capitalcube.com logoETFs with exposure to Liquidity Services, Inc. : January 11, 2017 (NASDAQ:LQDT)
www.capitalcube.com - January 11 at 6:59 PM
finance.yahoo.com logoLiquidity Services to Host Open House at Brampton Distribution Center (NASDAQ:LQDT)
finance.yahoo.com - January 9 at 7:06 PM
News IconTiger Liquidity Services Energy Partners to conduct online auction for equipment (NASDAQ:LQDT)
www.worldoil.com - December 13 at 11:49 PM
News IconDo Hedge Funds Love Liquidity Services, Inc. (LQDT)? (NASDAQ:LQDT)
feedproxy.google.com - December 11 at 7:39 AM
capitalcube.com logoETFs with exposure to Liquidity Services, Inc. : December 8, 2016 (NASDAQ:LQDT)
us.rd.yahoo.com - December 8 at 6:56 PM
us.rd.yahoo.com logoLiquidity Services Receives One Year Contract Extension for U.S. Department of Defense Surplus Property Sales (NASDAQ:LQDT)
us.rd.yahoo.com - December 8 at 6:56 PM
us.rd.yahoo.com logo4:16 pm Liquidity Services announces the U.S. Defense Logistics Agency has exercised the first of four one-year extension options under its Surplus sales contract; current Surplus Contract's performance period now extends through December 1 (NASDAQ:LQDT)
us.rd.yahoo.com - December 8 at 6:56 PM
biz.yahoo.com logoLIQUIDITY SERVICES INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Exhib (NASDAQ:LQDT)
biz.yahoo.com - December 8 at 6:56 PM
capitalcube.com logoLiquidity Services, Inc. breached its 50 day moving average in a Bullish Manner : LQDT-US : December 7, 2016 (NASDAQ:LQDT)
www.capitalcube.com - December 7 at 10:06 AM
finance.yahoo.com logoDirectional Drilling, Solids Control and Surface Rental Equipment up for Immediate Sale (NASDAQ:LQDT)
finance.yahoo.com - December 6 at 10:05 AM
finance.yahoo.com logoAssets of Well Testing and Petroleum Production Services Company to Be Sold by Online Auction (NASDAQ:LQDT)
finance.yahoo.com - December 5 at 10:34 AM
fool.com logoWhy Liquidity Services Inc. Stock Popped Today (NASDAQ:LQDT)
www.fool.com - December 2 at 5:09 PM
capitalcube.com logoETFs with exposure to Liquidity Services, Inc. : November 28, 2016 (NASDAQ:LQDT)
us.rd.yahoo.com - November 29 at 4:05 PM
capitalcube.com logoETFs with exposure to Liquidity Services, Inc. : November 28, 2016 (NASDAQ:LQDT)
us.rd.yahoo.com - November 29 at 4:05 PM
capitalcube.com logoLiquidity Services, Inc. :LQDT-US: Earnings Analysis: Q4, 2016 By the Numbers : November 23, 2016 (NASDAQ:LQDT)
www.capitalcube.com - November 23 at 6:02 PM
capitalcube.com logoLiquidity Services, Inc. :LQDT-US: Earnings Analysis: 2016 By the Numbers : November 23, 2016 (NASDAQ:LQDT)
www.capitalcube.com - November 23 at 9:01 AM
finance.yahoo.com logoEdited Transcript of LQDT earnings conference call or presentation 17-Nov-16 3:30pm GMT (NASDAQ:LQDT)
finance.yahoo.com - November 18 at 8:43 AM
4-traders.com logoLiquidity Services : Announces Fourth Quarter and Fiscal Year 2016 Financial Results (NASDAQ:LQDT)
www.4-traders.com - November 17 at 5:40 PM
fool.com logoLiquidity Services Posts Losses, Sees Difficult Quarter Ahead (NASDAQ:LQDT)
www.fool.com - November 17 at 2:13 PM
sg.finance.yahoo.com logoLiquidity Services reports 4Q loss (NASDAQ:LQDT)
sg.finance.yahoo.com - November 17 at 9:42 AM
seekingalpha.com logoLiquidity Services beats by $0.06, beats on revenue (NASDAQ:LQDT)
seekingalpha.com - November 17 at 6:59 AM
4-traders.com logoLiquidity Services : to Co-sponsor and Attend the Procurement Success Summit 2016 (NASDAQ:LQDT)
www.4-traders.com - November 16 at 6:19 PM
finance.yahoo.com logoLiquidity Services Announces Fourth Quarter and Fiscal Year 2016 Earnings Conference Call (NASDAQ:LQDT)
finance.yahoo.com - November 1 at 6:17 PM
finance.yahoo.com logoIronDirect Launches New Sales Partner Program (NASDAQ:LQDT)
finance.yahoo.com - October 24 at 11:19 AM
finance.yahoo.com logoIronDirect Launches New Dealer Partner Program (NASDAQ:LQDT)
finance.yahoo.com - October 19 at 6:19 PM
mysmartrend.com logoLiquidity Services Up 74.6% Since SmarTrend Uptrend Call (LQDT) (NASDAQ:LQDT)
www.mysmartrend.com - October 14 at 5:50 PM
capitalcube.com logoLiquidity Services, Inc. breached its 50 day moving average in a Bullish Manner : LQDT-US : October 13, 2016 (NASDAQ:LQDT)
www.capitalcube.com - October 13 at 9:32 AM
fool.com logoWhy Liquidity Services, Inc. Stock Gained 12% Last Month (NASDAQ:LQDT)
www.fool.com - October 12 at 11:52 AM
mysmartrend.com logoLiquidity Services Up 90.1% Since SmarTrend Uptrend Call (LQDT) (NASDAQ:LQDT)
www.mysmartrend.com - September 29 at 11:02 AM
uk.finance.yahoo.com logoLiquidity Services Announces Agreement with Dublin Office of Indassol (NASDAQ:LQDT)
uk.finance.yahoo.com - September 29 at 11:02 AM
finance.yahoo.com logo10:01 am Liquidity Services enters into an agreement with Indassol to provide negotiated sale and auction services to biopharmaceutical, electronics, fast-moving consumer goods, and industrial manufacturing clients in Ireland (NASDAQ:LQDT)
finance.yahoo.com - September 29 at 11:02 AM
feeds.reuters.com logoBRIEF-Liquidity Services announces agreement with Dublin office of Indassol (NASDAQ:LQDT)
feeds.reuters.com - September 29 at 10:19 AM

Social

What is Liquidity Services' stock symbol?

Liquidity Services trades on the NASDAQ under the ticker symbol "LQDT."

Where is Liquidity Services' stock going? Where will Liquidity Services' stock price be in 2017?

3 brokers have issued 1-year price targets for Liquidity Services' stock. Their forecasts range from $6.50 to $6.50. On average, they anticipate Liquidity Services' stock price to reach $6.50 in the next twelve months.

When will Liquidity Services announce their earnings?

Liquidity Services is scheduled to release their next quarterly earnings announcement on Wednesday, May, 3rd 2017.

Who owns Liquidity Services stock?

Liquidity Services' stock is owned by many different of retail and institutional investors. Top institutional shareholders include Renaissance Technologies LLC (4.64%), Dimensional Fund Advisors LP (2.41%), State Street Corp (2.17%), Numeric Investors LLC (1.68%), FMR LLC (1.23%) and Oxford Asset Management (0.63%). Company insiders that own Liquidity Services stock include Gardner H Dudley, Jaime Mateus-Tique, James Edwin Williams, James M Rallo, Jorge Celaya, Kathryn Ann Domino, Mark A Shaffer, Segundo Leoncio Casusol and William P Angrick III.

Who sold Liquidity Services stock? Who is selling Liquidity Services stock?

Liquidity Services' stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, Allianz Asset Management AG, AQR Capital Management LLC, Oxford Asset Management, State Board of Administration of Florida Retirement System, Bogle Investment Management L P DE and Martingale Asset Management L P. Company insiders that have sold Liquidity Services stock in the last year include Gardner H Dudley, James M Rallo, Jorge Celaya, Mark A Shaffer, Segundo Leoncio Casusol and William P Angrick III.

Who bought Liquidity Services stock? Who is buying Liquidity Services stock?

Liquidity Services' stock was acquired by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, Dimensional Fund Advisors LP, Russell Investments Group Ltd., Flinton Capital Management LLC, Tyers Asset Management LLC, Numeric Investors LLC, Two Sigma Investments LP and State Street Corp.

How do I buy Liquidity Services stock?

Shares of Liquidity Services can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

How much does a share of Liquidity Services stock cost?

One share of Liquidity Services stock can currently be purchased for approximately $8.20.

Liquidity Services (NASDAQ:LQDT) Chart for Thursday, February, 23, 2017


Institutional Ownership Chart

Institutional Ownership by Quarter for Liquidity Services (NASDAQ:LQDT)

Earnings History Chart

Earnings by Quarter for Liquidity Services (NASDAQ:LQDT)

Dividend History Chart

Dividend Payments by Quarter for Liquidity Services (NASDAQ:LQDT)

Last Updated on 2/23/2017 by MarketBeat.com Staff