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LiqTech International, Inc.

LIQT Industrials Pollution & Treatment Controls

LiqTech International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.5 million, up 13.0% from fiscal 2024.

Revenue
−12.0%
EPS
+3.45%
Free cash flow
−99.2%
Total debt
−71.8%

Quarter to June 2026, against a year earlier

0.33 0.03 +10.00%
Market cap
$9.9M
P/E
0.0×
Fwd P/E
−1.0×
Dividend yield
—
F-score
4/9
Altman Z
−4.27
Beneish M
−2.92
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.80
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 3 — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 9.92
Revenue ttm 15.43
Net income ttm (9.86)
Free cash flow ttm (8.66)
Net debt Q (13.35)
Valuation
P/E 0.00
Forward P/E (1.00) (negative: loss-making)
Price / sales 0.44
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.27
Financial health
Current ratio Q 4.37 (at or above 1.5: strong)
Debt / equity Q 0.09 (at or below 0.5: strong)
Interest coverage Q (10.09)
Growth
Revenue growth Q −11.98% (below 0%: shrinking)
Operating income growth Q −10.52% (below 0%: shrinking)
EPS, this year +66.29% (at or above 15%: strong)
EPS, next year A +6.67%
Revenue, next year A +21.16% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +65.88% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is −0.4×, against a ten-year median of 1.5×; over the ten years it ranged from −0.5× in 2026 to 11.3× in 2019.
P/S against its own 10 years 0.22%
10-year low 10-year high
P/B against its own 10 years 0.22%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 10 11 5 16
Receivables 3 2 3 5
Inventory 5 6 6 6
Other 3 2 1 0
22 21 16 28
2023 2024 2025 Q'26
Payables 2 1 2 1
ST’ Debt — — — —
Other 0 0 0 0
7 5 5 6

Compound Annual Growth %

10y 5y 3y
Sales 0.43% (6.03%) 1.08%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (7.48%) (16.01%) (23.66%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.19 Actual −0.14

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.17 −0.15 Beat by 0.02
Q4 FY25 −0.17 −0.27 Miss by 0.10
Q1 FY26 −0.21 −0.28 Miss by 0.07
Q2 FY26 −0.19 −0.14 Beat by 0.05
Q3 FY26 −0.06 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.28) (0.14) — — —
’25 (0.25) (0.14) (0.15) (0.27) (0.89)
’24 (0.41) (0.36) (0.49) (0.39) (1.64)
’23 (0.40) (0.27) (0.25) (0.56) (1.51)
’22 (1.44) (1.60) (0.32) (0.24) (3.20)
’21 (0.88) (1.12) (1.04) (1.04) (4.16)
’20 0.12 (0.96) (1.44) (1.36) (3.68)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4 4 — — —
’25 5 5 4 3 17
’24 4 4 2 3 15
’23 4 5 5 4 18
’22 4 5 3 4 16
’21 4 4 4 6 18
’20 10 5 4 4 23
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (2) (3) — — —
’25 (1) (2) (1) (2) (6)
’24 (2) (2) (2) (2) (8)
’23 (2) (1) 1 (1) (4)
’22 (5) (6) 0 (1) (12)
’21 (1) 0 (3) (3) (7)
’20 (2) 3 (2) (2) (3)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (2) (3) — — —
’25 (1) (2) (1) (2) (6)
’24 (1) (2) (2) (2) (8)
’23 (2) (2) (1) (2) (7)
’22 (5) (6) (1) (1) (14)
’21 (2) 0 (4) (3) (8)
’20 (3) 2 (3) (3) (6)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 14 11 12 33 23 18 16 18 15 17 15 +1.9% 20 25 — +21.8%
Gross margin, % 10.30 1.82 8.72 21.95 9.53 8.63 3.55 15.42 1.72 7.58 9.07 (2.7) pt
EBT (13) (5) (4) 0 (10) (11) (14) (9) (10) (9) (10) (4.6%)
EBT margin, % (94.91) (42.12) (34.17) (0.79) (45.61) (61.24) (90.14) (48.76) (71.10) (52.12) (63.90) +42.8 pt
Net income (16) (4) (4) 0 (10) (11) (14) (9) (10) (9) (10) (6.9%)
Per share, $
Per share, $ Revenue 12.08 8.73 6.13 13.29 8.50 6.78 3.61 3.16 2.31 1.72 0.74 (19.5%)
Earnings (14.40) (3.52) (1.92) 0.02 (3.68) (4.16) (3.20) (1.51) (1.64) (0.89) (0.84) (26.6%)
Cash flow 0.36 (2.55) (1.96) (1.85) (0.98) (2.67) (2.72) (0.74) (1.19) (0.64) (0.40) n/m
Capex (0.32) (0.10) (0.09) (1.04) (1.40) (0.42) (0.38) (0.51) (0.07) (0.02) (0.02) (25.6%)
Free cash flow 0.04 (2.65) (2.05) (2.89) (2.38) (3.09) (3.10) (1.24) (1.26) (0.66) (0.42) n/m
Book value 5.45 5.32 4.28 9.37 9.36 4.74 5.27 3.04 2.64 1.08 1.24 (16.5%)
Shares, m 1 1 2 2 3 3 4 6 6 10 12 +26.6%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 1.76 1.98 7.15 3.52 7.53 6.75 0.83 1.09 0.80 0.85 0.44 3.2
P/B 3.91 3.25 10.24 5.00 6.84 9.66 0.57 1.14 0.70 1.35 0.27 4.3
EV/Sales 1.69 1.77 6.85 3.23 7.08 6.27 0.28 0.93 0.52 1.04 (0.42) 3.0
EV/FCF 557.13 (5.82) (20.50) (14.91) (25.30) (13.65) (0.33) (2.35) (0.95) (2.69) 0.74 47.1
Cash, $m
Cash, $m Operating cash flow 0 (3) (4) (5) (3) (7) (12) (4) (8) (6) (8) n/m
Capex 0 0 0 (3) (4) (1) (2) (3) 0 0 0 (5.8%)
Free cash flow 0 (3) (4) (7) (6) (8) (14) (7) (8) (6) (9) n/m
Balance, $m
Balance, $m Working capital 3 5 7 17 16 11 22 15 16 11 21 +13.8%
Net debt (1) (2) (4) (10) (10) (9) (9) (3) (4) 3 (13) n/m
Shareholders’ equity 6 7 9 23 25 13 23 17 17 10 26 +5.8%
Returns, %
Returns, % ROA (83.16) (38.63) (30.71) 0.15 (24.28) (25.50) (33.27) (22.53) (30.25) (28.81) (28.21) +54.4 pt
ROIC (158.03) (65.06) (58.85) (2.69) (35.18) (181.31) (53.74) (33.80) (46.73) (38.49) (43.29) +119.5 pt
ROE (113.87) (67.69) (49.38) 0.25 (41.02) (59.20) (78.53) (42.24) (60.98) (63.66) (49.46) +50.2 pt
People
People Employees 69 64 76 147 114 120 105 119 105 92 — +3.2%
Revenue/emp, $m 0.20 0.18 0.16 0.22 0.20 0.15 0.15 0.15 0.14 0.18 — (1.3%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

LiqTech International, Inc. vs peers in Pollution & Treatment Controls (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ARQ Arq, Inc. $77.3M — (loss-making) — (loss-making) +4.54% (above 0%: growing) n/m +46.21% (above 0%: growing) 38.52% (0.23%) Compare
FTEK Fuel Tech, Inc. $45.3M — (loss-making) — (loss-making) +16.68% (above 0%: growing) n/m −1,603.51% (below 0%: shrinking) 41.25% (24.13%) Compare
SCWO 374Water Inc. $43.4M — (loss-making) — +280.17% (above 0%: growing) n/m +85.28% (above 0%: growing) 87.67% (71.70%) Compare
BCHT Birchtech Corp. $29.7M — (loss-making) — (loss-making) +16.50% (above 0%: growing) n/m −68.00% (below 0%: shrinking) 27.24% (42.81%) Compare
CLIR ClearSign Technologies Corporation $15.7M — (loss-making) — (loss-making) +321.05% (above 0%: growing) n/m −137.48% (below 0%: shrinking) 40.71% (267.50%) Compare
TOMZ TOMI Environmental Solutions, Inc. $15.7M — (loss-making) — (loss-making) +117.91% (above 0%: growing) n/m −531.53% (below 0%: shrinking) 61.65% (10.86%) Compare
CLWT Euro Tech Holdings Company Limited $9.9M 16.6× — −20.86% (below 0%: shrinking) n/m −164.72% (below 0%: shrinking) 18.83% 0.00% Compare
LIQT LiqTech International, Inc. $9.9M — (loss-making) — (loss-making) −11.98% (below 0%: shrinking) n/m −99.23% (below 0%: shrinking) 8.38% (53.44%)
RAIN Rain Enhancement Technologies Holdco, Inc. $6.2M — (loss-making) — — n/m −19.67% (below 0%: shrinking) 0.00% 0.00% Compare
Median of peers $22.7M — — +16.68% — −102.74% 39.62% (17.49%)

All 16 Pollution & Treatment Controls stocks →

Pay and ownership Proxy statement filed 23 October 2026

Ownership

Directors and executive officers, together 3.30%
Bleichroeder LP 20.90%
Laurence W. Lytton 9.90%
Marathon Micro Fund, LP 9.10%
Alyeska Investment Group, L.P. 6.10%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

LiqTech International, Inc. (LIQT) Latest News

20 Oct

Impact 4 · · GlobeNewswire

6 Oct

Impact 3 · · GlobeNewswire

12 Aug

Impact 4 · transcript
Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby transcript
Impact 3 ·
Impact 3 ·

11 Aug

Impact 3 ·

10 Aug

Impact 3 ·

23 Jun

Impact 4 · · GlobeNewswire
Impact 3 · · GlobeNewswire

4 Jun

Impact 4 · · GlobeNewswire
Impact 3 ·

13 May

Impact 4 · · GuruFocus.com
Impact 4 · · Benzinga transcript
Impact 4 · · GlobeNewswire
Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript
Impact 3 · · Zacks

5 May

Impact 4 · · GlobeNewswire

28 Apr

Impact 4 · · GlobeNewswire

23 Mar

Impact 4 · · GlobeNewswire

28 Feb

Impact 4 · · Moby

27 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

13 Jan

Impact 4 · · GlobeNewswire

20 Nov

Impact 4 · · GlobeNewswireMotley FoolGuruFocus.com

13 Nov

Impact 4 · · GuruFocus.com transcript
stockrow.com/LIQT · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com