Alvotech (ALVO) vs Liquidia Corporation (LQDA)

Alvotech and Liquidia Corporation are both Drug Manufacturers Specialty & Generic companies. Liquidia Corporation is the larger, with a market value of $3.1B against $2.1B — 1.5× the size. Alvotech has negative trailing earnings, so its P/E is not meaningful; Liquidia Corporation trades at 21.9×. Liquidia Corporation grew revenue faster over the last twelve months: 2,233.7% against 364.3%. Liquidia Corporation has the higher net margin (30.7% vs −101.1%) and the higher return on invested capital (121.1% vs 0.00%). Across the 16 metrics below, Liquidia Corporation leads on 13 and Alvotech on 3.

Valuation

Metric ALVO LQDA Drug Manufacturers Specialty & Generic median
P/E n/m 21.88 19.25
P/S 5.02 6.77 2.11
P/B n/m 15.65 1.78
Price to free cash flow n/m 20.26 16.14
EV/EBITDA n/m 17.30 12.58
EV/Sales 8.98 6.53 2.73
Earnings yield (23.93%) 4.57% (4.38%)
Free cash flow yield (14.39%) 4.94% 0.00%

Profitability

Metric ALVO LQDA Drug Manufacturers Specialty & Generic median
Gross margin 42.71% 92.54% 53.94%
Operating margin (42.43%) 37.39% 0.00%
Net margin (101.05%) 30.74% 0.00%
Free cash flow margin 0.00% 33.42% 0.00%
Return on equity 0.00% 131.82% (0.40%)
Return on assets 0.00% 35.57% (3.32%)
Return on invested capital 0.00% 121.05% 0.00%

Growth

Metric ALVO LQDA Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 364.29% 2,233.65% 10.01%
EPS growth (last fiscal year) 111.49% 51.81% 49.06%
Revenue growth, 5-year CAGR — 192.49% 6.74%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ALVO LQDA Drug Manufacturers Specialty & Generic median
Debt to equity (6.82) 0.90 0.05
Current ratio 1.65 2.31 2.31
Net debt to EBITDA 9.71 (0.01) 0.97

Dividend

Metric ALVO LQDA Drug Manufacturers Specialty & Generic median
Dividend yield — — 1.57%
Payout ratio — — 0.27

Size

Metric ALVO LQDA Drug Manufacturers Specialty & Generic median
Market cap 2.07b 3.11b 276.90m

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