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Monday 2 November 2026
Export LIQT’s income statement to Excel — free account
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%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Piotroski F-Score |
3 | 5 | 5 | 5 | 1 | 1 | 3 | 4 | 2 | 4 |
P/S ratio |
1.76 | 1.98 | 7.15 | 3.52 | 7.53 | 6.75 | 0.83 | 1.09 | 0.80 | 0.85 |
Altman Z-Score |
(2.41) | (0.29) | 8.35 | 4.59 | 4.80 | 0.50 | (1.86) | (2.06) | (3.21) | (4.27) |
P/FCF ratio |
582.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
(11.30) | (6.46) | (4.98) | 1.64 | (0.60) | (3.52) | (2.59) | (4.71) | (6.35) | (10.03) |
Beneish M-Score |
(10.42) | (0.51) | (2.48) | 1.46 | (3.35) | (3.50) | (1.84) | (3.03) | 1.17 | (2.92) |
P/Operating CF |
16.15 | (36.54) | (1,150.86) | (4,091.25) | (85.01) | (44.13) | (23.87) | (16.22) | (5.79) | (6.59) |
P/B ratio |
3.91 | 3.25 | 10.24 | 5.00 | 6.84 | 9.66 | 0.57 | 1.14 | 0.70 | 1.35 |
Price to Tangible BV |
3.92 | 3.25 | 10.24 | 5.16 | 7.05 | 10.11 | 0.58 | 1.16 | 0.71 | 1.39 |
EV/Sales |
1.69 | 1.77 | 6.85 | 3.23 | 7.08 | 6.27 | 0.28 | 0.93 | 0.52 | 1.04 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 137.50 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
56.41 | (6.04) | (21.39) | (23.17) | (61.38) | (15.90) | (0.38) | (4.01) | (1.01) | (2.81) |
EV/FCF |
557.13 | (5.82) | (20.50) | (14.91) | (25.30) | (13.65) | (0.33) | (2.35) | (0.95) | (2.69) |
Quick Ratio |
0.65 | 0.89 | 1.34 | 1.55 | 1.67 | 1.15 | 3.11 | 1.81 | 2.70 | 1.80 |
Current Ratio |
1.70 | 1.98 | 2.46 | 2.66 | 2.61 | 1.66 | 4.55 | 2.95 | 4.21 | 3.38 |
Net Debt/EBITDA |
0.09 | 0.68 | 0.98 | (12.55) | 1.87 | 1.11 | 1.16 | 0.67 | 0.65 | (0.56) |
Debt/Assets |
1.17% | 0.00% | 0.00% | 0.45% | 7.37% | 19.28% | 19.60% | 21.04% | 21.29% | 30.03% |
Debt/Equity |
0.02 | 0.00 | 0.00 | 0.01 | 0.13 | 0.68 | 0.34 | 0.44 | 0.41 | 0.79 |
Asset Turnover |
0.70 | 0.98 | 0.98 | 1.26 | 0.56 | 0.42 | 0.38 | 0.47 | 0.43 | 0.55 |
Operating CF/Net income |
(0.03) | 0.74 | 1.03 | (114.82) | 0.27 | 0.65 | 0.85 | 0.49 | 0.73 | 0.71 |
Capex/Depreciation |
(0.27) | (0.13) | (0.26) | (1.90) | (1.31) | (0.32) | (0.34) | (0.81) | (0.13) | (0.08) |
Interest Coverage |
(337.66) | (100.38) | (62.47) | (30.70) | (68.28) | (16.27) | (29.85) | (51.41) | (56.61) | (26.33) |
| (113.87%) | (67.69%) | (49.38%) | 0.25% | (41.02%) | (59.20%) | (78.53%) | (42.24%) | (60.98%) | (63.66%) | |
| (83.16%) | (38.63%) | (30.71%) | 0.15% | (24.28%) | (25.50%) | (33.27%) | (22.53%) | (30.25%) | (28.81%) | |
ROIC |
(158.03%) | (65.06%) | (58.85%) | (2.69%) | (35.18%) | (181.31%) | (53.74%) | (33.80%) | (46.73%) | (38.49%) |
Return on Tangible Assets |
(267.79%) | (67.39%) | (46.60%) | 0.18% | (37.49%) | (55.47%) | (47.42%) | (36.32%) | (46.28%) | (50.35%) |
Average Days of Receivables |
54.08 | 56.68 | 71.82 | 70.15 | 50.70 | 39.10 | 52.76 | 64.29 | 59.88 | 75.84 |
Research and Development Expense of Revenue |
4.50% | 4.73% | 5.40% | 2.30% | 5.67% | 10.19% | 11.49% | 7.88% | 9.26% | 7.05% |
Selling, General and Administrative Expense of Revenue |
47.45% | 37.71% | 39.98% | 21.42% | 40.50% | 56.92% | 58.64% | 50.86% | 57.43% | 50.86% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
Share Based Compensation of Revenue |
3.13% | 1.58% | 0.95% | 0.61% | 1.53% | 2.63% | 5.85% | 3.49% | 4.55% | 5.98% |
Graham Net Nets |
0.14 | 0.21 | 0.08 | 0.10 | 0.05 | (0.03) | 0.82 | 0.17 | 0.42 | (0.07) |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(67.57%) | (18.52%) | (4.68%) | (0.01%) | (5.69%) | (8.92%) | (120.00%) | (42.90%) | (89.67%) | (55.82%) |
Free Cash Flow Yield |
0.17% | (15.31%) | (4.67%) | (6.15%) | (3.72%) | (6.80%) | (103.86%) | (36.31%) | (69.02%) | (45.46%) |
Revenue per Share |
12.08 | 8.73 | 6.13 | 13.29 | 8.50 | 6.78 | 3.61 | 3.16 | 2.31 | 1.72 |
Operating CF per Share |
0.36 | (2.55) | (1.96) | (1.85) | (0.98) | (2.67) | (2.72) | (0.74) | (1.19) | (0.64) |
Capex per Share |
(0.32) | (0.10) | (0.09) | (1.04) | (1.40) | (0.42) | (0.38) | (0.51) | (0.07) | (0.02) |
Free Cash Flow per Share |
0.04 | (2.65) | (2.05) | (2.89) | (2.38) | (3.09) | (3.10) | (1.24) | (1.26) | (0.66) |
Cash per Share |
1.05 | 1.91 | 1.89 | 3.98 | 5.00 | 6.49 | 3.75 | 1.83 | 1.72 | 0.53 |
Shareholders Equity per Share |
5.45 | 5.32 | 4.28 | 9.37 | 9.36 | 4.74 | 5.27 | 3.04 | 2.64 | 1.08 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
5.45 | 5.32 | 4.28 | 9.37 | 9.36 | 4.74 | 5.27 | 3.04 | 2.64 | 1.08 |
Free Cash Flow |
0.04 | (3.44) | (4.09) | (7.09) | (6.31) | (8.34) | (13.73) | (7.07) | (7.96) | (6.33) |
Working Capital |
3.50 | 4.66 | 6.75 | 17.16 | 15.84 | 11.20 | 21.58 | 14.59 | 15.74 | 11.24 |
Capital Expenditures |
(0.37) | (0.12) | (0.17) | (2.55) | (3.71) | (1.13) | (1.69) | (2.89) | (0.42) | (0.22) |
Net Current Asset Value |
3.36 | 4.66 | 6.75 | 11.90 | 8.26 | (4.21) | 10.85 | 3.39 | 4.87 | (0.95) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.03 | 0.01 | 0.01 | 0.08 | 0.16 | 0.06 | 0.11 | 0.16 | 0.03 | 0.01 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.52 | 0.48 | 0.45 | 0.28 | 0.27 | 0.40 | 0.60 | 0.39 | 0.51 | 0.47 |
Cash ROIC |
0.55% | (36.59%) | (33.17%) | (21.52%) | (15.31%) | (21.40%) | (28.74%) | (20.05%) | (23.12%) | (26.77%) |
Accounts Receivable Turnover |
3.36 | 5.94 | 5.87 | 7.52 | 4.79 | 7.18 | 7.49 | 6.57 | 5.25 | 5.67 |
Accounts Payable Turnover |
4.36 | 5.52 | 5.73 | 7.89 | 6.11 | 8.39 | 10.15 | 7.94 | 7.66 | 10.69 |
Inventory Turnover |
2.47 | 2.26 | 2.46 | 5.29 | 3.80 | 3.05 | 3.25 | 3.26 | 2.66 | 2.54 |
Average Days of Payables |
66.21 | 58.18 | 69.38 | 62.17 | 41.77 | 36.00 | 32.90 | 58.60 | 33.08 | 37.15 |
Days of Inventory on Hand |
151.42 | 152.80 | 144.88 | 74.49 | 98.90 | 118.50 | 96.18 | 126.28 | 140.91 | 155.01 |
Average Receivables |
4.14 | 1.91 | 2.08 | 4.34 | 4.70 | 2.54 | 2.13 | 2.74 | 2.78 | 2.91 |
Average Payables |
2.86 | 2.02 | 1.95 | 3.23 | 3.34 | 1.99 | 1.52 | 1.92 | 1.87 | 1.43 |
Average Inventory |
5.05 | 4.92 | 4.55 | 4.82 | 5.36 | 5.47 | 4.74 | 4.66 | 5.40 | 6.01 |
Average Assets |
19.74 | 11.55 | 12.42 | 25.87 | 40.40 | 43.63 | 42.59 | 38.05 | 34.20 | 29.85 |
Average Common Equity |
14.42 | 6.59 | 7.72 | 15.77 | 23.91 | 18.80 | 18.04 | 20.29 | 16.97 | 13.51 |
Columns are period end dates