LQDTLiquidity Services, Inc.
Is the business good?
The checks split: nothing decisive, though earnings fully cash-backed (3.3×).
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
A balanced mix of margins, efficiency, and leverage. ROE 14% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is LQDT?
Liquidity Services, Inc. keeps 9.0% of every revenue dollar as operating profit, against 6.0% for the median Internet Retail name.
Operating margin · Internet Retail median 6.0% · 12 months to Q3 2026
- Cash conversion
- 3.28×
Cash conversion · 2.17× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +1.1%
Share count, year on year · shareholders own a smaller slice than a year ago
- Gross margin
- 48%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −1.9% |
| FY2021 | 11% |
| FY2022 | 17% |
| FY2023 | 8.3% |
| FY2024 | 6.4% |
| FY2025 | 7.4% |
Details›
- Gross margin12 months to Q3 2026
- 48%
- Operating margin12 months to Q3 2026
- 9.0%
- Net margin12 months to Q3 2026
- 6.8%
- Free cash flow margin
- 18%
- Revenue, trailing twelve months
- $490M
- Free cash flow, trailing twelve months
- $90M
- Net income, trailing twelve months
- $33M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.