LQDT Consumer Cyclical

Liquidity Services, Inc.

$44.38-0.58%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Consumer Cyclical
Industry: Internet Retail
Country: United States
Market cap: 1.4B USD
Enterprise value: 1.2B USD
Full-time employees: 818

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.04 vs a peer median of 0.63)bigger price swings (beta 1.04 vs peers 0.63)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #402 of 1,502 consumer cyclical companies (top 27%)

See how it ranks against its peers

Worth knowing

Stock pay is large next to buybacks. Stock-based pay expense $34M vs $47M spent repurchasing shares over the 3 fiscal years to FY Sep 2025.
Over three fiscal years Liquidity Services recorded $34M of stock-based pay expense and spent $47M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Liquidity Services recorded $34M of stock-based pay expense and spent $47M repurchasing shares.
Profit below an unusually strong FY Sep 2022. Since FY Sep 2022 (an unusually strong year for operating profit): revenue +70%, operating profit −26%.Since FY Sep 2022: revenue +70%, operating profit −26%.
Since FY Sep 2022, Liquidity Services's revenue changed +70% while operating profit fell 26%: costs rose faster than sales.
Cash flow well above reported profit. Free cash flow is 2.7× reported profit.
Free cash flow is 2.7× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $206M in FY Sep 2020 to $477M in FY Sep 2025.
Liquidity Services's fiscal-year revenue rose in each of the five years to FY Sep 2025, from $206M to $477M.

StockQuotient Score

62/ 100

Oct 5 62 → Nov 4 62

Valuation

Is the price right?

27/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.4%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.61Sector median: 0.0439 · MAD: 0.0329

EBITDA yield4.2%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.98Sector median: 0.0877 · MAD: 0.0461

Free cash flow yield6.5%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.06Sector median: 0.0614 · MAD: 0.0545

Other data (not scored)

Book yield17.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5650 · MAD: 0.3500

Growth

Is it growing?

74/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.0%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth24.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.80Sector median: 0.0420 · MAD: 0.2537

3-year revenue growth16.5%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.93Sector median: 0.0425 · MAD: 0.0636

Revenue growth5.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.22Sector median: 0.0373 · MAD: 0.0653

Profitability

Does it earn well?

93/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROIC
▲ ROA
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin9.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.57Sector median: 0.0638 · MAD: 0.0461

Return on assets7.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.81Sector median: 0.0331 · MAD: 0.0254

Return on invested capital216.3%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 6.21Sector median: 0.0733 · MAD: 0.0600

Other data (not scored)

Gross margin47.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3025 · MAD: 0.1399

Return on equity14.1%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0746 · MAD: 0.0674

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.04

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.36Sector median: 0.6345 · MAD: 0.2980

Current ratio1.58×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.18Sector median: 1.4800 · MAD: 0.5570

Debt / equity0.06×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 1.14Sector median: 0.4646 · MAD: 0.3556

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Liquidity Services

Is Liquidity Services getting weaker?: Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 62/100 since Oct 28, 2026.
How is Liquidity Services valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 27/100 against 1,612 consumer cyclical peers. EBITDA yield 4.2% vs a peer median of 8.8% (weaker than 76% of peers).EBITDA yield 4.2% vs peers 8.8% (weaker than 76% of peers).
Is Liquidity Services growing?: Yes, faster than most of its peers. Growth scores 74/100 against 1,612 consumer cyclical peers. 3-year revenue growth 16.5% vs a peer median of 4.3% (stronger than 85% of peers).3-year revenue growth 16.5% vs peers 4.3% (stronger than 85% of peers).
How profitable is Liquidity Services?: More profitable than most of its peers. Profitability scores 93/100 against 1,612 consumer cyclical peers. Return on invested capital 216.3% vs a peer median of 7.3% (stronger than 95% of peers).Return on invested capital 216.3% vs peers 7.3% (stronger than 95% of peers).
How risky is Liquidity Services?: Moderate risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Debt / equity 0.06× vs a peer median of 0.46× (stronger than 87% of peers).Debt / equity 0.06× vs peers 0.46× (stronger than 87% of peers). Beta 1.04 vs a peer median of 0.63 (weaker than 76% of peers).Beta 1.04 vs peers 0.63 (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	479.9M USD	489.6M USD	+2.0%
Net income (12 months)	30.2M USD	33.3M USD	+10.0%
Operating margin	8.4%	9.0%	+0.6 pts
Free cash flow (12 months)	77.7M USD	90.0M USD	+15.7%
Cash	195.3M USD	219.8M USD	+12.5%
Shares outstanding	31.2M	31.3M	+0.5%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Cyclical · 182 companies

Valuations in Consumer Cyclical are within their usual range since 2016.

36% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +0% and earnings +10% (medians): prices and earnings moved broadly together.
Median price-to-sales is −55% vs the whole market, against a usual −41%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Cyclical: too few Internet Retail companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Sep 2021	FY Sep 2022	FY Sep 2023	FY Sep 2024	FY Sep 2025	Change
Gross margin	58.2%	57.4%	54.7%	51.0%	43.8%	▼ 7.2 pts
Operating margin	10.5%	16.9%	8.3%	6.4%	7.4%	▲ 0.9 pts
Net margin	19.8%	14.4%	6.7%	5.5%	5.9%	▲ 0.4 pts
Return on assets (ROA)	19.9%	14.0%	7.3%	5.8%	7.5%	▲ 1.7 pts
Return on equity (ROE)	37.7%	26.1%	13.0%	11.0%	13.8%	▲ 2.9 pts
Free cash flow margin	23.3%	13.1%	13.2%	16.9%	12.4%	▼ 4.5 pts
Current ratio	1.21×	1.05×	1.21×	1.28×	1.39×	▲ 8.3%
Quick ratio	1.09×	0.95×	1.12×	1.17×	1.30×	▲ 11%

LQDT price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.04 vs a peer median of 0.63)bigger price swings (beta 1.04 vs peers 0.63)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #402 of 1,502 consumer cyclical companies (top 27%)

See how it ranks against its peers

Worth knowing

Stock pay is large next to buybacks. Stock-based pay expense $34M vs $47M spent repurchasing shares over the 3 fiscal years to FY Sep 2025.

Over three fiscal years Liquidity Services recorded $34M of stock-based pay expense and spent $47M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Liquidity Services recorded $34M of stock-based pay expense and spent $47M repurchasing shares.

Profit below an unusually strong FY Sep 2022. Since FY Sep 2022 (an unusually strong year for operating profit): revenue +70%, operating profit −26%.Since FY Sep 2022: revenue +70%, operating profit −26%.

Since FY Sep 2022, Liquidity Services's revenue changed +70% while operating profit fell 26%: costs rose faster than sales.

Cash flow well above reported profit. Free cash flow is 2.7× reported profit.

Free cash flow is 2.7× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $206M in FY Sep 2020 to $477M in FY Sep 2025.

Liquidity Services's fiscal-year revenue rose in each of the five years to FY Sep 2025, from $206M to $477M.

Questions investors ask about Liquidity Services

Is Liquidity Services getting weaker?

Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 62/100 since Oct 28, 2026.

How is Liquidity Services valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 27/100 against 1,612 consumer cyclical peers. EBITDA yield 4.2% vs a peer median of 8.8% (weaker than 76% of peers).EBITDA yield 4.2% vs peers 8.8% (weaker than 76% of peers).

Is Liquidity Services growing?

Yes, faster than most of its peers. Growth scores 74/100 against 1,612 consumer cyclical peers. 3-year revenue growth 16.5% vs a peer median of 4.3% (stronger than 85% of peers).3-year revenue growth 16.5% vs peers 4.3% (stronger than 85% of peers).

How profitable is Liquidity Services?

More profitable than most of its peers. Profitability scores 93/100 against 1,612 consumer cyclical peers. Return on invested capital 216.3% vs a peer median of 7.3% (stronger than 95% of peers).Return on invested capital 216.3% vs peers 7.3% (stronger than 95% of peers).

How risky is Liquidity Services?

Moderate risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Debt / equity 0.06× vs a peer median of 0.46× (stronger than 87% of peers).Debt / equity 0.06× vs peers 0.46× (stronger than 87% of peers). Beta 1.04 vs a peer median of 0.63 (weaker than 76% of peers).Beta 1.04 vs peers 0.63 (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

479.9M USD

489.6M USD

+2.0%

Net income (12 months)

30.2M USD

33.3M USD

+10.0%

Operating margin

8.4%

9.0%

+0.6 pts

Free cash flow (12 months)

77.7M USD

90.0M USD

+15.7%

Cash

195.3M USD

219.8M USD

+12.5%

Shares outstanding

31.2M

31.3M

+0.5%

Key ratios

FY Sep 2021

FY Sep 2022

FY Sep 2023

FY Sep 2024

FY Sep 2025

Change

Gross margin

58.2%

57.4%

54.7%

51.0%

43.8%

▼ 7.2 pts

Operating margin

10.5%

16.9%

8.3%

6.4%

7.4%

▲ 0.9 pts

Net margin

19.8%

14.4%

6.7%

5.5%

5.9%

▲ 0.4 pts

Return on assets (ROA)

19.9%

14.0%

7.3%

5.8%

7.5%

▲ 1.7 pts

Return on equity (ROE)

37.7%

26.1%

13.0%

11.0%

13.8%

▲ 2.9 pts

Free cash flow margin

23.3%

13.1%

13.2%

16.9%

12.4%

▼ 4.5 pts

Current ratio

1.21×

1.05×

1.21×

1.28×

1.39×

▲ 8.3%

Quick ratio

1.09×

0.95×

1.12×

1.17×

1.30×

▲ 11%