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Liquidity Services Inc (LQDT) stock

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NASDAQ: LQDT Nasdaq Diversified Support Services Next results ~November 19, 2026

C+ Fundamentals grade

Liquidity Services Inc is a US-listed company in the diversified support services industry. Its financial year ends in September.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$45

Cash-flow model

Base case. Range ~$36–$58 across our lower- and higher-growth cases (5.8%–15.8% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 2% below our base value.

Price used: $44.64, November 2, 2026

Liquidity Services Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 82 sales by directors and officers, last 12 monthsInsider trades
  • Funds119 adding, 73 cuttingOf 33 active managers that changed their stake, 20 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Liquidity Services files

Where Liquidity Services stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $490m, up 5.2% on a year earlier, slower than the 9.3% growth a quarter earlier. Free-cash-flow margin rose to 18.4% from 9.1% a year earlier. Operating margin widened to 9.0% from 6.7%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $52.58 a share, against a share price of $45.14. At that price, our model says the market is pricing in about 7.7% a year of cash-flow growth for five years, slower than the 13.7% a year revenue growth it has delivered.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 19, 2026 (estimated)

Liquidity Services Inc's trailing-twelve-month revenue grew 5.2% year on year, with a free-cash-flow margin of 18.4%. Where it stands out: days sales outstanding of 9 days ranks 1 of 26 diversified support services companies we cover.

Our discounted-cash-flow model values the business at ~$45 per share in the base case (~$36–$58 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 113.5% while net income grew 24.8%: a 89pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.2bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 10.5% over 90 days.

Things to watch

  • High earnings multiple. The shares trade at 44 times the last 12 months' earnings, so expectations are demanding.
  • Insiders selling. 9 insiders sold $14M of stock over the past 365 days and none bought (47% under pre-set trading plans).
  • Growth easing. The growth rate is 4.1 points lower than a quarter earlier.
  • Below peers: change in growth rate. Change in growth rate of -4.1pp ranks 25 of 32 diversified support services companies we cover (median +0.8pp).

Latest results: FY2026 Q3

Filed August 6, 2026
Earnings per share
$0.45 against an average estimate of $0.34: beat by 30.4%
Revenue
$130m, up 8.1% on a year earlier
Share reaction
+12.0% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
GMV $415m to $455m (Q4-FY26); GAAP Net Income $10m to $13m (Q4-FY26)
Next report
November 19, 2026; average EPS estimate $0.45

Liquidity Services' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.0%
  • 1 week-1.7%
  • 1 month+3.3%
  • This year+47.3%
  • 1 year+86.5%
  • 5 years+103.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$490M
Operating margin
9.0%
Net margin
6.8%
EPS (TTM, diluted)
$1.02

Growth

Revenue growth
+5.2%
Change in growth rate
−4.1 pts
Share count change
+0.9%

Cash

Free cash flow (TTM)
$90M
FCF margin
18.4%
Stock pay % of revenue
4.2%

Earnings

Last results
August 6, 2026
Next results (est.)
November 19, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Deal
  2. Results
  3. Guidance
  4. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Liquidity Services Inc valuation models and calculator

What the price is pricing in

The share price implies about 10.4% a year of cash-flow growth for five years.That is close to the 13.7% a year revenue growth Liquidity Services has delivered.

  • Priced in10.4%
  • Last 12 months5.2%
  • 3 years a year16.5%
  • 5 years a year13.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($44.42, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$45
Price used
$44.42close November 3, 2026
Implied change
▲ +2%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Liquidity Services Inc's free cash flow after stock-based pay with after-tax interest added back ($54.6M, FY2026 Q3 TTM), growing 10.8% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$36–~$58 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Liquidity Services Inc's free cash flow after stock-based pay ( $54.6M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Liquidity Services Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.81 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$45 ~$36–$58 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$17 ~$14–$33 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$21 ~$14–$32 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$17 ~$14–$21 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$29 ~$17–$45 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Liquidity Services Inc with Diversified Support Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −22%
  • Revenue growth 5 points higher ▲ +29%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +82%
  • Discount rate 1 point higher ▼ −13%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $27$34$44$57$74$96
8.5% $22$27$34$44$56$71
10% $19$23$29$36$45$57

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$11.24$5.90$6.35$7.40$7.46$21.61$16.26$17.62$22.80$27.43$44.64
Market value$344m$185m$204m$245m$251m$757m$548m$565m$721m$889m$1.5bn
+ Net debt (− = net cash)−$135m−$94m−$58m−$36m−$76m−$106m−$96m−$110m−$153m−$175m−$220m
Enterprise value$210m$91m$145m$208m$175m$651m$452m$455m$568m$714m$1.2bn
Multiples
Price / sales 1.1x0.7x0.9x1.1x1.2x2.9x2.0x1.8x2.0x1.9x3.0x
Price / earnings —————14.9x13.6x26.9x36.1x31.6x43.6x
Price / free cash flow 8.7x———20.4x12.6x14.9x13.6x11.8x15.1x16.1x
EV / EBITDA ————73.0x19.1x7.8x12.2x16.0x15.7x22.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

61 /100

Moderate moat

How hard Liquidity Services's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 31.4% of total assets over 8 years.

  • Pricing power 14 / 20

    Gross margin has been a median 50.7%, moving by 4.8 percentage points (standard deviation) across 9 years.

  • Durability 1 / 20

    Operating margin has been a median 6.9%; its worst year was -20.2%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 7 of 10 years, at a median 10.7% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 7.0% over five years; stock-based pay has been a median 2.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (66 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 19, 2026, before the open. Analysts expect EPS of $0.45 (range $0.44 to $0.45) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.65 +29% — —
Next $1.84 +12% — —

Next year's EPS estimate has moved +10.5% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +11.5% on 90 days ago. In the last 30 days, 2 analysts raised Liquidity Services Inc's forecast and 0 cut it.

Consensus EPS forecast Liquidity Services Inc, last 90 days
$1.40 $1.50 $1.60 $1.70 $1.80 $1.90 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.48 Current fiscal year, 60 days ago: $1.50 Current fiscal year, 30 days ago: $1.50 Current fiscal year, 7 days ago: $1.50 Current fiscal year, Now: $1.65 $1.65 Next fiscal year, 90 days ago: $1.67 Next fiscal year, 60 days ago: $1.70 Next fiscal year, 30 days ago: $1.70 Next fiscal year, 7 days ago: $1.70 Next fiscal year, Now: $1.84 $1.84

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.48$1.67
60 days ago $1.50$1.70
30 days ago $1.50$1.70
7 days ago $1.50$1.70
Now $1.65$1.84

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.34 $0.45 +30.4%
Mar 2026 $0.30 $0.35 +16.7%
Dec 2025 $0.30 $0.39 +27.9%
Sept 2025 $0.29 $0.37 +27.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • GAAP Diluted EPS Q4-FY26 $0.30 to $0.39 GAAP
    “GAAP Diluted EPS $0.30 to $0.39” source
  • Non-GAAP Adjusted Diluted EPS Q4-FY26 $0.41 to $0.50 Non-GAAP
    “Non-GAAP Adjusted Diluted EPS $0.41 to $0.50” source
  • annual effective tax rate (ETR) FY26 30% to 34%
    “Our FY26 annual effective tax rate (ETR) is expected to range from approximately 30% to 34%, with the rate for the fiscal fourth quarter of 2026 in the low-to-mid thirties.” source
  • GMV Q4-FY26 $415m to $455m
    “GMV $415 to $455” source
  • GAAP Net Income Q4-FY26 $10m to $13m GAAP
    “GAAP Net Income $10.0 to $13.0” source
  • Non-GAAP Adjusted EBITDA Q4-FY26 $22m to $25m Non-GAAP
    “Non-GAAP Adjusted EBITDA $22.0 to $25.0” source
Show 1 more item
  • diluted weighted average number of shares outstanding Q4-FY26 about 33m
    “our diluted weighted average number of shares outstanding is expected to be approximately 33.0 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026112

Counts of recommendations published by analysts covering Liquidity Services Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.4%
of tradable shares
Days to cover
4.12
at average volume
Short interest, 1 month
+9%
to October 15, 2026
Held by institutions
81%
of shares
Held by insiders
24.8%
of shares
Employees
818
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +86.5%

$23.94 on October 31, 2025 to $44.64

ThenNowEffect
Revenue (last 12 months) $466m $490m +5.2%
Net margin 5.7% 6.8% +18.7%
P/E multiple 29.0x 43.6x +50.7%
Share count 32m 33m −0.9%

Biggest factor: p/e multiple.

Last 3 years +130.2%

$19.39 on November 3, 2023 to $44.64

ThenNowEffect
Revenue (last 12 months) $310m $490m +58.1%
Net margin 7.4% 6.8% −8.7%
P/E multiple 27.2x 43.6x +60.2%
Share count 32m 33m −0.4%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
LQDT+39%−36%+22%+88%−6%+47%
Industry peers (median)+2%−9%+5%+1%−10%−17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LQDT58%17%58%75%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LQDT−32%−48%−20%−13%−41%−15%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 73% from September 30, 2016 to March 27, 2020. Getting back needed a 267% gain, reached on December 8, 2020, 256 days after the low.

Price behaviour

52-week range
$22.16 – $45.42
From 52-week high
−1.7%
vs 50-day average
+4.0%
vs 200-day average
+20.5%
Volatility (1 year)
35%
Beta vs S&P 500
0.65

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±12.0%
After a week
7 up, 5 down
typical move ±12.6%
After a month
8 up, 4 down
typical move ±12.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +12.0% +0.5% +14.4% +12.2%
May 7, 2026 −2.8% +0.5% −10.4% −1.5%
February 5, 2026 +3.3% +0.6% −3.8% +3.5%
November 20, 2025 +23.3% −0.5% +32.5% +36.0%
August 7, 2025 −3.5% +0.7% +5.5% +8.5%
May 8, 2025 −19.1% +0.6% −21.8% −21.4%
February 6, 2025 +2.7% −0.6% +12.1% −7.4%
December 12, 2024 +38.0% −0.5% +22.0% +38.8%
August 8, 2024 +10.7% +2.8% +11.3% +7.1%
May 9, 2024 −3.4% +0.7% +2.0% +0.2%
February 8, 2024 −10.5% +0.6% −0.9% +2.9%
December 7, 2023 −14.1% +1.2% −14.7% −15.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Liquidity Services Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Liquidity Services Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Liquidity Services Inc
$300M $350M $400M $450M $500M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $314.5M Revenue (TTM), FY24 Q1: $313.5M Revenue (TTM), FY24 Q2: $323.5M Revenue (TTM), FY24 Q3: $336.3M Revenue (TTM), FY24 Q4: $363.3M Revenue (TTM), FY25 Q1: $414.3M Revenue (TTM), FY25 Q2: $439.2M Revenue (TTM), FY25 Q3: $465.5M Revenue (TTM), FY25 Q4: $476.7M Revenue (TTM), FY26 Q1: $475.6M Revenue (TTM), FY26 Q2: $479.9M Revenue (TTM), FY26 Q3: $489.6M $489.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $314.5M
FY24 Q1 $313.5M
FY24 Q2 $323.5M
FY24 Q3 $336.3M
FY24 Q4 $363.3M
FY25 Q1 $414.3M
FY25 Q2 $439.2M
FY25 Q3 $465.5M
FY25 Q4 $476.7M
FY26 Q1 $475.6M
FY26 Q2 $479.9M
FY26 Q3 $489.6M
Revenue growth, TTM YoY Liquidity Services Inc
0% 10% 20% 30% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 12.3% Revenue growth, TTM YoY, FY24 Q1: 9.8% Revenue growth, TTM YoY, FY24 Q2: 8.3% Revenue growth, TTM YoY, FY24 Q3: 8.6% Revenue growth, TTM YoY, FY24 Q4: 15.5% Revenue growth, TTM YoY, FY25 Q1: 32.2% Revenue growth, TTM YoY, FY25 Q2: 35.8% Revenue growth, TTM YoY, FY25 Q3: 38.4% Revenue growth, TTM YoY, FY25 Q4: 31.2% Revenue growth, TTM YoY, FY26 Q1: 14.8% Revenue growth, TTM YoY, FY26 Q2: 9.3% Revenue growth, TTM YoY, FY26 Q3: 5.2% 5.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 12.3%
FY24 Q1 9.8%
FY24 Q2 8.3%
FY24 Q3 8.6%
FY24 Q4 15.5%
FY25 Q1 32.2%
FY25 Q2 35.8%
FY25 Q3 38.4%
FY25 Q4 31.2%
FY26 Q1 14.8%
FY26 Q2 9.3%
FY26 Q3 5.2%
Operating margin (TTM) Liquidity Services Inc
6% 7% 8% 9% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 8.3% Operating margin (TTM), FY24 Q1: 7.3% Operating margin (TTM), FY24 Q2: 7.5% Operating margin (TTM), FY24 Q3: 7.1% Operating margin (TTM), FY24 Q4: 6.4% Operating margin (TTM), FY25 Q1: 7.0% Operating margin (TTM), FY25 Q2: 6.6% Operating margin (TTM), FY25 Q3: 6.7% Operating margin (TTM), FY25 Q4: 7.4% Operating margin (TTM), FY26 Q1: 7.9% Operating margin (TTM), FY26 Q2: 8.4% Operating margin (TTM), FY26 Q3: 9.0% 9.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 8.3%
FY24 Q1 7.3%
FY24 Q2 7.5%
FY24 Q3 7.1%
FY24 Q4 6.4%
FY25 Q1 7.0%
FY25 Q2 6.6%
FY25 Q3 6.7%
FY25 Q4 7.4%
FY26 Q1 7.9%
FY26 Q2 8.4%
FY26 Q3 9.0%
FCF margin (TTM) Liquidity Services Inc
5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 13.2% FCF margin (TTM), FY24 Q1: 13.7% FCF margin (TTM), FY24 Q2: 13.6% FCF margin (TTM), FY24 Q3: 16.4% FCF margin (TTM), FY24 Q4: 16.9% FCF margin (TTM), FY25 Q1: 14.0% FCF margin (TTM), FY25 Q2: 10.3% FCF margin (TTM), FY25 Q3: 9.1% FCF margin (TTM), FY25 Q4: 12.4% FCF margin (TTM), FY26 Q1: 14.7% FCF margin (TTM), FY26 Q2: 16.2% FCF margin (TTM), FY26 Q3: 18.4% 18.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 13.2%
FY24 Q1 13.7%
FY24 Q2 13.6%
FY24 Q3 16.4%
FY24 Q4 16.9%
FY25 Q1 14.0%
FY25 Q2 10.3%
FY25 Q3 9.1%
FY25 Q4 12.4%
FY26 Q1 14.7%
FY26 Q2 16.2%
FY26 Q3 18.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Liquidity Services took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $477M
  2. Other income $4.4M · 0.9%
  3. Cost of revenue $268M · 56.2%
  4. Gross profit $209M · 43.8%
  5. Selling, general and admin $93.7M · 19.7%
  6. Other operating costs $80M · 16.8%
  7. Operating income $35.1M · 7.4%
  8. Income tax $11.3M · 2.4%
  9. Net income $28.1M · 5.9%

Shares of revenue. Source: Liquidity Services's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Sept 2009 2010 Sept 2010 2011 Sept 2011 2012 Sept 2012 2013 Sept 2013 2014 Sept 2014 2015 Sept 2015 2016 Sept 2016 2017 Sept 2017 2018 Sept 2018 2019 Sept 2019 2020 Sept 2020 2021 Sept 2021 2022 Sept 2022 2023 Sept 2023 2024 Sept 2024 2025 Sept 2025 LTM Jun 2026
Income
Revenue 219 273 327 475 506 496 397 316 270 225 227 206 258 280 314 363 477 490
Gross profit — — — — — — 203 162 124 110 113 110 150 161 172 185 209 233
EBITDA 19 32 43 96 85 67 −135 −28 −34 −17 −14 2 34 58 37 36 45 55
Operating income 16 28 37 82 68 50 −144 −34 −40 −22 −20 −4 27 47 26 23 35 44
Net income 6 12 9 48 41 30 −105 −60 −39 −12 −19 −4 51 40 21 20 28 33
Diluted EPS $0.21 $0.44 $0.29 $1.47 $1.26 $0.97 −$3.50 −$1.96 −$1.25 −$0.36 −$0.58 −$0.11 $1.45 $1.20 $0.65 $0.63 $0.87 $1.02
Growth (year on year)
Revenue — +24.7% +19.9% +45.2% +6.4% −2.0% −19.9% −20.3% −14.7% −16.9% +0.9% −9.1% +25.1% +8.7% +12.3% +15.5% +31.2% +5.2%
EBITDA — +67.6% +33.9% +123.9% −11.4% −21.5% −301.4% — — — — — — +69.1% −35.3% −4.9% +28.0% +30.3%
Operating income — +76.5% +34.8% +120.1% −17.3% −25.8% −386.0% — — — — — — +74.5% −44.9% −10.3% +49.8% +40.5%
Net income — +110.1% −29.1% +467.4% −14.9% −26.1% −444.9% — — — — — — −20.9% −48.0% −4.7% +40.5% +24.8%
Diluted EPS — +109.5% −34.1% +406.9% −14.3% −23.0% −460.8% — — — — — — −17.2% −45.8% −3.1% +38.1% +23.7%
Margins
Gross margin — — — — — — 51.1% 51.2% 46.1% 48.9% 50.0% 53.4% 58.2% 57.4% 54.7% 51.0% 43.8% 47.6%
EBITDA margin 8.7% 11.8% 13.1% 20.3% 16.9% 13.5% −34.0% −8.7% −12.8% −7.6% −6.4% 1.2% 13.3% 20.6% 11.9% 9.8% 9.5% 11.2%
Operating margin 7.2% 10.1% 11.4% 17.3% 13.4% 10.2% −36.3% −10.8% −14.9% −9.7% −8.6% −1.9% 10.5% 16.9% 8.3% 6.4% 7.4% 9.0%
Net margin 2.6% 4.4% 2.6% 10.2% 8.1% 6.1% −26.4% −18.9% −14.5% −5.2% −8.5% −1.8% 19.8% 14.4% 6.7% 5.5% 5.9% 6.8%
Free-cash-flow margin 2.4% 10.4% 10.7% 9.5% 8.2% 0.9% 9.1% 12.6% −14.6% −1.6% −5.4% 6.0% 23.3% 13.1% 13.2% 16.9% 12.4% 18.4%
Cash flow
Cash from operations 9 32 40 52 47 12 43 46 −32 1 −6 16 65 45 47 70 67 98
Capital spending 3 4 5 7 5 8 7 6 8 4 6 4 5 8 5 9 8 8
Free cash flow 5 28 35 45 41 4 36 40 −39 −4 −12 12 60 37 42 61 59 90
Stock-based pay 6 8 9 12 13 13 12 12 7 7 7 6 7 8 8 11 14 21
Free cash flow after stock pay −1 20 26 33 28 −8 24 28 −47 −10 −19 7 53 28 33 50 44 69
Balance sheet
Cash 33 43 129 105 95 63 95 135 94 58 36 76 106 96 110 153 175 220
Total debt 0 0 0 42 — 0 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −33 −43 −129 −63 −95 −63 −95 −135 −94 −58 −36 −76 −106 −96 −110 −153 −175 −220
Diluted shares 28m 27m 29m 33m 33m 31m 30m 31m 31m 32m 33m 34m 35m 34m 32m 32m 32m 33m
Returned to shareholders
Buybacks 4 14 4 30 — 45 — — — 0 0 4 31 25 21 9 16 18
Total returned 4 14 4 30 — 45 — — — 0 0 4 31 25 21 9 16 18

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $420m
Short-term assets $272mLonger-term assets $149m
What it owes, and who funded it · $420m
Short-term liabilities $172mLonger-term liabilities $12mShareholders' equity $236m
  • Short-term assets cover short-term liabilities $272m of assets due within a year against $172m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $272m short-term assets against $12m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Liquidity Services Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$17.6M
Returned to shareholders
20%
of free cash flow
Buybacks, last 3 fiscal years
$46.8M
Diluted share count
+0.9%
year over year
Total shareholder yield
1.0%
dividends 0.0% + buybacks 1.0% of market value
Days sales outstanding
9 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in diversified support services
Last 12 months unless stated LQDT EVI DFIN XMTR VRRM ASPS Median
Revenue, last 12 months $490m $447m $787m $808m $1.0bn $193m $906m
Revenue growth, last 12 months 5.2% 14.6% 4.8% 33.7% 6.5% 13.5% 6.3%
Revenue growth, 3-year average 16.5% 8.0% −0.1% 24.5% 8.2% 9.7% 6.4%
Revenue growth, latest quarter 8.1% 10.8% 5.5% 41.1% −1.2% 23.9% 7.2%
Gross margin 47.6% 31.5% — 38.7% — 25.6% 29.0%
Operating margin 9.0% 3.5% 19.2% −3.8% 12.7% −1.5% 4.9%
Operating margin, 3-year average 7.6% 3.4% 18.2% −7.9% 17.4% 0.9% 9.9%
Net margin 6.8% 1.7% 12.4% −3.8% 3.8% −5.1% 2.7%
Cash from operations / revenue 20.1% 4.6% 28.8% 3.4% 25.1% 0.4% 7.1%
Free-cash-flow margin 18.4% 3.0% 22.7% 0.9% 13.7% −0.1% 3.7%
Free-cash-flow margin, 3-year average 14.6% 5.0% 17.1% −4.0% 15.7% −2.9% 7.4%
Stock pay / revenue 4.2% 1.2% 4.4% 5.1% 1.4% 2.4% 1.4%
Change in share count 0.9% 3.2% −9.7% — −5.2% 46.4% 0.1%

Median of all 32 companies we cover in diversified support services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

32 diversified support services companies
Measure Company Peer median Rank
Revenue growth Growth 5.2% 6.5% 19 of 32
Change in growth rate Growth -4.1pp +0.8pp 25 of 32
Gross margin Profitability 47.6% 26.4% 5 of 22
Operating margin Profitability 9.0% 4.5% 11 of 29
Net margin Profitability 6.8% 3.3% 10 of 32
Free-cash-flow margin Cash generation 18.4% 4.1% 5 of 31
Stock pay as % of revenue Cash generation 4.2% 1.4% 19 of 26
Change in share count Balance sheet 0.9% -0.1% 19 of 28
Days sales outstanding Balance sheet 9 days 60 days 1 of 26

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to September 30, 2025
Segments
Line of business Revenue Share YoY
RSCG $330M 69.3% ▲ 41.8%
Gov Deals $87.4M 18.3% ▲ 14.2%
CAG $39.3M 8.2% ▲ 4.3%
Machinio and Software Solutions Corporation $19.7M 4.1% ▲ 22.2%
Products and services
Line of business Revenue Share YoY
Products $311M 65.1% ▲ 48.0%
Consignment and Other Fee Revenues $166M 34.9% ▲ 8.2%
Geography
Region Revenue Share YoY
United States $433M 90.9% ▲ 34.0%
Outside the US $43.4M 9.1% ▲ 8.5%

From Liquidity Services Inc's 10-K filed November 20, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$973M
Institutions reporting
220
Shares held vs prior quarter
▲ 1.5%
Positions opened / closed
42 / 10

Top buyers and sellers, Q2 2026: 119 institutions bought and 73 sold ; the biggest buyer was Acadian Asset Management LLC (+303K shares) and the biggest seller Staley Capital Advisers Inc (−309K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $141M 3.6M 14.4% ▲ 5.7%
Ameriprise Financial Inc $60.2M 1.5M 6.2% ▲ 6.3%
Truist Financial Corp $56.7M 1.4M 5.8% 0.0%
Renaissance Technologies LLC $56.3M 1.4M 5.8% ▼ 4.1%
Acadian Asset Management LLC $43.7M 1.1M 4.5% ▲ 37.3%
Vanguard Capital Management LLC $38.4M 981K 3.9% ▲ 7.9%
Punch & Associates Investment Management, Inc. $37.3M 955K 3.8% ▲ 3.7%
State Street Corp $36.1M 923K 3.7% ▲ 6.0%
Dimensional Fund Advisors LP $35.8M 915K 3.7% ▲ 2.3%
Wellington Management Group LLP $32.8M 839K 3.4% ▼ 1.4%
Vanguard Portfolio Management LLC $25.9M 661K 2.7% ▼ 10.4%
Geode Capital Management, LLC $24.2M 618K 2.5% ▲ 6.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Liquidity Services Inc's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $14.1M 82 trades by 9 insiders · 47% under pre-set plans
Net ▼ $14.1M net selling
Insider Date Trade Shares Price Value
Daunt John EVP, Chief Commercial Officer October 1, 2026 Sell pre-set plan 389 $42.75 $16,630
Daunt John EVP, Chief Commercial Officer October 1, 2026 Sell pre-set plan 326 $42.75 $13,936
Daunt John EVP, Chief Commercial Officer September 1, 2026 Sell pre-set plan 325 $41.27 $13,413
Daunt John EVP, Chief Commercial Officer September 1, 2026 Sell pre-set plan 390 $41.27 $16,095
Daunt John EVP, Chief Commercial Officer August 3, 2026 Sell pre-set plan 390 $39.00 $15,210
Daunt John EVP, Chief Commercial Officer August 3, 2026 Sell pre-set plan 325 $39.00 $12,675
Daunt John EVP, Chief Commercial Officer July 1, 2026 Sell pre-set plan 73 $39.13 $2,856
Daunt John EVP, Chief Commercial Officer July 1, 2026 Sell pre-set plan 389 $39.13 $15,222
Daunt John EVP, Chief Commercial Officer June 26, 2026 Sell pre-set plan 39 $39.09 $1,528
Daunt John EVP, Chief Commercial Officer June 24, 2026 Sell pre-set plan 7,539 $39.22 $295,680
Daunt John EVP, Chief Commercial Officer June 24, 2026 Sell pre-set plan 2,600 $39.29 $102,154
Mateus-Tique Jaime Director June 23, 2026 Sell pre-set plan 38,471 $37.99 $1.5M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 19, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 5, 2026
  • November 20, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Liquidity Services Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Liquidity Services Inc in brief

What does Liquidity Services Inc do?
Liquidity Services Inc is a US-listed company in the diversified support services industry. Its financial year ends in September.
What is Liquidity Services Inc's stock ticker?
Liquidity Services Inc trades under the ticker LQDT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Liquidity Services Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Liquidity Services Inc reported revenue of $490M, 5.2% higher than a year earlier, according to its SEC filings.
What is Liquidity Services Inc's free cash flow?
Liquidity Services Inc's free-cash-flow margin is 18.4% of revenue over the trailing twelve months, ranking 5 of the 31 diversified support services companies we cover.
What is Liquidity Services Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Liquidity Services Inc's free cash flow after stock-based pay gives ~$45 per share in the base case, and ~$36–$58 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Liquidity Services Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Ameriprise Financial Inc and Truist Financial Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Liquidity Services Inc buying back stock, and does it pay a dividend?
Liquidity Services Inc spent $17.6M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.9% over the year.
What is Liquidity Services Inc's market cap?
On November 2, 2026, Liquidity Services Inc's market capitalisation was about $1.5B, with a price-to-earnings ratio of 43.6 and net debt of -$220M. Market figures come from third-party market data and may be delayed.
Who are Liquidity Services Inc's competitors?
In our Diversified Support Services peer group, the companies closest to Liquidity Services Inc are EVI Industries, Inc., Donnelley Financial Solutions, Inc., Xometry, Inc., Verra Mobility Corp and Altisource Portfolio Solutions S.a. The side-by-side comparison below sets their revenue, margins and growth against Liquidity Services Inc's.
Are insiders buying or selling Liquidity Services Inc stock?
Over the last 12 months, Liquidity Services Inc's directors and officers reported 0 open-market purchases and 82 sales on Form 4. The insider trading page charts every trade.
When is Liquidity Services Inc's next earnings date?
Around November 19, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Liquidity Services Inc announces its own schedule.