LiqTech International (LIQT)
Market Price (6/20/2026): $0.9237 | Market Cap: $9.1 MilSector: Industrials | Industry: Environmental & Facilities Services
LiqTech International (LIQT)
Market Price (6/20/2026): $0.9237Market Cap: $9.1 MilSector: IndustrialsIndustry: Environmental & Facilities Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% Megatrend and thematic driversMegatrends include Water Infrastructure. Themes include Water Treatment & Delivery, and Wastewater Management. | Weak multi-year price returns2Y Excs Rtn is -100%, 3Y Excs Rtn is -148% | Penny stockMkt Price is 0.9 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -52% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 115% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.2%, Rev Chg QQuarterly Revenue Change % is -10% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -46% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -105% High stock price volatilityVol 12M is 107% Key risksLIQT key risks include [1] its history of unprofitability and cash burn, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% |
| Megatrend and thematic driversMegatrends include Water Infrastructure. Themes include Water Treatment & Delivery, and Wastewater Management. |
| Weak multi-year price returns2Y Excs Rtn is -100%, 3Y Excs Rtn is -148% |
| Penny stockMkt Price is 0.9 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -52% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 115% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.2%, Rev Chg QQuarterly Revenue Change % is -10% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -46% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -105% |
| High stock price volatilityVol 12M is 107% |
| Key risksLIQT key risks include [1] its history of unprofitability and cash burn, Show more. |
Qualitative Assessment
AI Analysis | Feedback
LiqTech International (LIQT) stock has lost about 55% since 2/28/2026 because of the following key factors:
1. Poor Fiscal Q1 2026 Financial Performance and Missed Analyst Expectations.
LiqTech International reported a significant decline in its financial results for fiscal Q1 2026 (ended March 31, 2026), which was announced on May 13, 2026. The company's revenue decreased by 10.4% to $4.1 million, falling short of analysts' consensus estimates of $4.50 million. This reduction was primarily attributed to a non-recurring "Water for Energy" delivery in the prior-year quarter. Furthermore, LiqTech reported a wider net loss of $(2.7) million, compared to a $(2.4) million loss in fiscal Q1 2025. The reported Earnings Per Share (EPS) of -$0.28 missed the Zacks Consensus Estimate of -$0.21 by 33.33%.
2. "Going Concern" Warning and Liquidity Concerns.
In its fiscal Q1 2026 financial report, LiqTech International's management disclosed "substantial doubt" about the company's ability to continue as a going concern over the next twelve months. This critical statement stemmed from recurring operating losses and consistent cash usage, indicating significant financial instability. The company's cash balance stood at a limited $2.7 million as of March 31, 2026, which raised concerns about its liquidity and ability to fund ongoing operations and growth initiatives.
Show more
LiqTech International (LIQT) stock has lost about 55% since 2/28/2026 because of the following key factors:
1. Poor Fiscal Q1 2026 Financial Performance and Missed Analyst Expectations.
LiqTech International reported a significant decline in its financial results for fiscal Q1 2026 (ended March 31, 2026), which was announced on May 13, 2026. The company's revenue decreased by 10.4% to $4.1 million, falling short of analysts' consensus estimates of $4.50 million. This reduction was primarily attributed to a non-recurring "Water for Energy" delivery in the prior-year quarter. Furthermore, LiqTech reported a wider net loss of $(2.7) million, compared to a $(2.4) million loss in fiscal Q1 2025. The reported Earnings Per Share (EPS) of -$0.28 missed the Zacks Consensus Estimate of -$0.21 by 33.33%.
2. "Going Concern" Warning and Liquidity Concerns.
In its fiscal Q1 2026 financial report, LiqTech International's management disclosed "substantial doubt" about the company's ability to continue as a going concern over the next twelve months. This critical statement stemmed from recurring operating losses and consistent cash usage, indicating significant financial instability. The company's cash balance stood at a limited $2.7 million as of March 31, 2026, which raised concerns about its liquidity and ability to fund ongoing operations and growth initiatives.
3. Significant Share Dilution from Public Offering.
On June 4, 2026, LiqTech International announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock at $1.00 per share, aiming to raise approximately $20 million in gross proceeds. This substantial issuance of new shares, at a price point likely below recent trading values, resulted in significant dilution for existing shareholders. The proceeds are intended to repay approximately $4.1 million in senior notes and to fund business development and working capital, but the immediate impact of such a large offering typically exerts downward pressure on the stock price.
Show less
Stock Movement Drivers
Fundamental Drivers
The -54.8% change in LIQT stock from 2/28/2026 to 6/19/2026 was primarily driven by a -52.4% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.99 | 0.90 | -54.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17 | 16 | -2.9% |
| P/S Multiple | 1.2 | 0.6 | -52.4% |
| Shares Outstanding (Mil) | 10 | 10 | -2.2% |
| Cumulative Contribution | -54.8% |
Market Drivers
2/28/2026 to 6/19/2026| Return | Correlation | |
|---|---|---|
| LIQT | -54.8% | |
| Market (SPY) | 9.2% | 9.4% |
| Sector (XLI) | 2.4% | 2.5% |
Fundamental Drivers
The -52.1% change in LIQT stock from 11/30/2025 to 6/19/2026 was primarily driven by a -48.6% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.88 | 0.90 | -52.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17 | 16 | -4.5% |
| P/S Multiple | 1.1 | 0.6 | -48.6% |
| Shares Outstanding (Mil) | 10 | 10 | -2.3% |
| Cumulative Contribution | -52.1% |
Market Drivers
11/30/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| LIQT | -52.1% | |
| Market (SPY) | 9.9% | 9.8% |
| Sector (XLI) | 18.4% | 2.8% |
Fundamental Drivers
The -44.8% change in LIQT stock from 5/31/2025 to 6/19/2026 was primarily driven by a -47.1% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.63 | 0.90 | -44.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15 | 16 | 6.9% |
| P/S Multiple | 1.0 | 0.6 | -47.1% |
| Shares Outstanding (Mil) | 10 | 10 | -2.5% |
| Cumulative Contribution | -44.8% |
Market Drivers
5/31/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| LIQT | -44.8% | |
| Market (SPY) | 28.1% | 13.1% |
| Sector (XLI) | 28.4% | 5.8% |
Fundamental Drivers
The -73.5% change in LIQT stock from 5/31/2023 to 6/19/2026 was primarily driven by a -52.9% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.40 | 0.90 | -73.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16 | 16 | -2.0% |
| P/S Multiple | 1.2 | 0.6 | -52.9% |
| Shares Outstanding (Mil) | 6 | 10 | -42.6% |
| Cumulative Contribution | -73.5% |
Market Drivers
5/31/2023 to 6/19/2026| Return | Correlation | |
|---|---|---|
| LIQT | -73.5% | |
| Market (SPY) | 85.7% | 11.2% |
| Sector (XLI) | 95.3% | 7.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LIQT Return | -29% | -93% | 12% | -46% | -21% | -40% | -99% |
| Peers Return | 24% | -15% | 16% | 21% | 29% | 6% | 103% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| LIQT Win Rate | 25% | 25% | 42% | 33% | 33% | 50% | |
| Peers Win Rate | 65% | 33% | 55% | 62% | 58% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| LIQT Max Drawdown | -60% | -94% | -32% | -57% | -51% | -67% | |
| Peers Max Drawdown | -17% | -33% | -22% | -17% | -25% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DCI, GLW, DHR, XYL, PNR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | LIQT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -16.4% | -18.8% |
| % Gain to Breakeven | 19.6% | 23.1% |
| Time to Breakeven | 18 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -51.4% | -33.7% |
| % Gain to Breakeven | 105.9% | 50.9% |
| Time to Breakeven | 128 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.6% | -19.2% |
| % Gain to Breakeven | 48.3% | 23.8% |
| Time to Breakeven | 21 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -68.2% | -3.7% |
| % Gain to Breakeven | 214.2% | 3.9% |
| Time to Breakeven | 397 days | 6 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -58.8% | -6.8% |
| % Gain to Breakeven | 142.4% | 7.3% |
| Time to Breakeven | 1197 days | 15 days |
In The Past
LiqTech International's stock fell -16.4% during the 2025 US Tariff Shock. Such a loss loss requires a 19.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | LIQT | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -51.4% | -33.7% |
| % Gain to Breakeven | 105.9% | 50.9% |
| Time to Breakeven | 128 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.6% | -19.2% |
| % Gain to Breakeven | 48.3% | 23.8% |
| Time to Breakeven | 21 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -68.2% | -3.7% |
| % Gain to Breakeven | 214.2% | 3.9% |
| Time to Breakeven | 397 days | 6 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -58.8% | -6.8% |
| % Gain to Breakeven | 142.4% | 7.3% |
| Time to Breakeven | 1197 days | 15 days |
In The Past
LiqTech International's stock fell -16.4% during the 2025 US Tariff Shock. Such a loss loss requires a 19.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About LiqTech International (LIQT)
LiqTech International is a clean technology company specializing in advanced filtration and purification solutions globally. Its core business involves designing, developing, and selling automated filtering systems, primarily utilizing innovative ceramic silicon carbide technology, alongside diesel particulate air filters. The company operates across three main segments: Water, Ceramics, and Plastics, providing diverse solutions for environmental and industrial challenges.
The company's key product offerings include silicon carbide ceramic filtration technologies for both liquid and gas purification, as well as diesel particulate filters (DPFs) vital for exhaust emission control in both the verified retrofit and original equipment manufacturer (OEM) markets. In its Water segment, LiqTech develops liquid filtration systems for a wide array of applications such as marine scrubber systems, produced water treatment, pre-filtration for reverse osmosis, industrial processes, and even clean drinking water production. Additionally, the Plastics segment manufactures machined and welded plastic components.
LiqTech International primarily serves industrial customers across a wide geographical footprint, including the United States, Canada, Europe, Asia, and South America. The company reaches its diverse clientele through various sales channels, including direct sales, systems integrators, distributors, agents, and partners, ensuring its specialized clean technology solutions are accessible to a broad market.
AI Analysis | Feedback
Here are a few analogies for LiqTech International:
- Like a smaller, more specialized Xylem, but leveraging advanced ceramic technology for industrial water purification.
- Similar to a Donaldson Company, but with a strong focus on advanced ceramic filters for industrial air pollution and liquid treatment.
- Think of it as a materials science company, like a miniature Corning, applying its ceramic expertise directly to industrial clean technology and advanced filtration systems.
AI Analysis | Feedback
- Silicon Carbide Ceramic Filtration Technologies: These are advanced ceramic filtration solutions used for purifying both liquids and gases in various industrial and environmental applications.
- Diesel Particulate Filters (DPF): These filters are designed to control exhaust emissions for both retrofit markets and original equipment manufacturers.
- Liquid Filtration Systems: These automated systems utilize ceramic technology for diverse applications, including marine scrubbers, produced water treatment, and providing clean drinking water.
- Machined and Welded Plastic Parts: The company manufactures custom plastic components through machining and welding processes for various industrial uses.
AI Analysis | Feedback
Major Customers of LiqTech International (LIQT)
LiqTech International (LIQT) primarily sells its products to industrial customers rather than individual consumers. The company sells its products through direct sales, systems integrators, distributors, agents, and partners.
Based on the provided information, the major customer categories or markets served by LiqTech International include:
- Original Equipment Manufacturers (OEMs): These customers integrate LiqTech's diesel particulate filters into their new equipment for exhaust emission control solutions.
- Marine Industry: Companies operating marine vessels that utilize LiqTech's liquid filtration systems for marine scrubber systems.
- Various Industrial Sectors Requiring Liquid Filtration and Purification: This broad category encompasses industrial customers with needs in applications such as filtration of produced water, pre-filtration of reverse osmosis drinking water, general industrial applications, clean drinking water production, pool and spa water management, food and beverage applications, seawater reverse osmosis, filter press, and UV disinfection.
The provided background information does not list specific names of customer companies.
AI Analysis | Feedback
AI Analysis | Feedback
Fei Chen, President and Chief Executive Officer
Fei Chen was appointed President and Chief Executive Officer and a Director of LiqTech International, Inc. effective September 12, 2022. A Danish citizen, she is fluent in Danish, English, and Mandarin, and brings extensive experience in technology businesses to her role.
David Kowalczyk, Chief Financial Officer and Chief Operating Officer
David Kowalczyk was appointed Chief Financial and Chief Operating Officer, effective March 1, 2025. He has over 20 years of leadership experience in global industrial companies, with expertise spanning finance, strategy, equity analysis, audit, and operational management. His prior senior roles include Vice President, Business Finance and Systems at Hempel A/S; Chief Financial Officer at Globus Wine; Vice President and Group Management Member at Flügger; Business Finance Director for Business Operations at Novozymes; Auditor and Consultant at PricewaterhouseCoopers; and Equity Analyst at Nordea Securities. Mr. Kowalczyk holds dual master's degrees in Auditing and Accounting, and Finance and Investments from Copenhagen Business School.
Alexander J. Buehler, Chairman of the Board
Alexander J. Buehler was appointed Chairman of the Board of Directors in June 2023 and has served as a Director of LiqTech since August 2017. He has also served as CEO and Director of EMS USA, Inc., a provider of pipeline and facility maintenance and construction, since July 2014. From May 2011 to June 2014, he held the position of Chief Financial Officer of Energy Recovery, Inc., a publicly traded provider of energy recovery products. His career further includes executive leadership positions at Insituform Technologies, Inc. and five years with the U.S. Army Corps of Engineers.
Robert Wowk, Independent Director
Robert Wowk was appointed to LiqTech's Board of Directors in February 2026. He brings over 30 years of experience as a finance and business development executive, primarily within the industrial gas and renewable energy sectors. His career highlights include more than two decades in global senior financial positions with Linde, Gulf Cryo, and Air Products, followed by CFO roles at companies involved in solar, waste-to-energy, lithium, and hydrogen technologies, such as sPower/AES, EnergyX, and HydroGraph. Mr. Wowk holds an M.B.A. in finance from The Wharton Graduate School of Business and a civil engineering degree from Lafayette College.
AI Analysis | Feedback
Here are the key risks to LiqTech International's business:
- Financial Health and Profitability: LiqTech International consistently reports net losses and high operating expenses relative to its revenue, indicating ongoing challenges in achieving profitability. The company has a continued need for substantial capital and access to financing to sustain operations and fund growth initiatives, leading to a risk of future shareholder dilution or even going concern if adequate funding cannot be secured.
- Revenue Inconsistency and Customer Concentration: The company's revenue is historically inconsistent and prone to fluctuations, partly due to its dependence on a small number of major customers. For example, in 2024, the four largest customers collectively accounted for approximately 24% of total net sales. The project-based nature of its business, particularly in sectors like oil and gas, introduces unpredictability in project timing and large, lumpy system orders, making it challenging to establish a stable, recurring revenue base.
- Competitive Market and Need for Continuous Innovation: LiqTech International operates in a highly competitive clean technology market. Despite its proprietary silicon carbide technology, the company faces challenges in maintaining its competitive edge due to the potential for rapid technological advancements by competitors. Continuous investment in research and development and ongoing innovation are crucial to ensure its products and systems remain relevant and desirable in evolving markets.
AI Analysis | Feedback
AI Analysis | Feedback
LiqTech International (LIQT) operates in several addressable markets related to filtration and clean technology. The estimated global market sizes for their main products and services are as follows:
-
Ceramic Filters Market: The global ceramic filters market was valued at approximately USD 2.13 billion in 2024 and is projected to reach USD 5.97 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 13.75% during the forecast period. Another estimate places the market at USD 2.428 billion in 2026, expected to climb to USD 10.318 billion by 2035 with a CAGR of 17.44%. The North American region accounted for a significant share of the market, while Asia-Pacific is expected to witness the highest growth rate.
-
Silicon Carbide (SiC) Ceramic Filters (a subset of ceramic filters): The global silicon carbide foam ceramic filter market size was valued at USD 439.9 million in 2025 and is expected to reach USD 812 million by 2034, growing at a CAGR of 9.1%. Asia-Pacific dominates this market, accounting for over 42% of the total demand in 2024.
-
Silicon Carbide Ceramic Membranes: The global silicon carbide ceramic membrane market size was valued at USD 90.45 million in 2026 and is expected to reach USD 173.77 million by 2035, growing at a CAGR of 7.4% from 2026 to 2035. Asia is the fastest-growing region, accounting for 35% of the global volume.
-
Diesel Particulate Filters (DPF): The global Diesel Particulate Filter (DPF) market size was valued at USD 15 billion in 2023 and is projected to reach USD 31.9 billion by 2032, with a CAGR of 8.7%. However, some reports indicate a projected decline from USD 4.7 billion in 2024 to USD 2.492 billion by 2032 due to a shift away from diesel vehicles. Asia-Pacific holds a significant share of this market, with some reports indicating 34.6% globally in 2023. Silicon Carbide (SiC) DPFs are a dominant segment within this market.
-
Marine Scrubber Systems: The global marine scrubber market size was estimated at USD 7.67 billion in 2025 and is predicted to increase to approximately USD 24.98 billion by 2034, growing at a CAGR of 14.01%. Another estimate valued the market at USD 8.8 billion in 2025, projected to reach USD 19.5 billion by 2034 with a CAGR of 9.2%. Asia-Pacific dominated this market with the largest market share of 32% in 2024.
-
Produced Water Treatment Market: The global produced water treatment market size was estimated at USD 9.331 billion in 2025 and is projected to reach USD 16.479 billion by 2033, growing at a CAGR of 7.5%. North America held the largest share of the produced water treatment market in 2025, accounting for 42.9% of the revenue.
-
Industrial Filtration Market (general): The broader global industrial filtration market size was estimated at USD 38.2 billion in 2024 and is expected to grow to USD 71.9 billion in 2034, at a CAGR of 6.7%. North America and Asia Pacific are significant regions in this market.
AI Analysis | Feedback
LiqTech International (LIQT) anticipates several key drivers to fuel its revenue growth over the next 2-3 years, primarily stemming from its specialized filtration technologies and strategic market penetration.
- Expansion of Commercial Pool Systems: The commercial pool business is a significant and growing revenue stream for LiqTech. The company reported record sales in 2025, with 34 pool systems sold, contributing $2.6 million in revenue. LiqTech expects this strong momentum to continue, projecting pool revenue of approximately $5 million to $6 million in 2026. This growth is attributed to the increasing market acceptance of its QlariFlow filtration system, which offers environmental benefits and cost savings compared to traditional filtration methods.
- Growth in Water for Energy and Industrial Applications: LiqTech is strategically focused on expanding its presence in water treatment for energy (including produced water) and various industrial applications. The company has seen progress in key projects within oil & gas, metal cooling, and has received significant orders for pilot water treatment systems in the U.S. and Middle East, with successful pilot testing leading to approval for commercial applications with a leading energy company. The company is also expanding its U.S. footprint with a new service center in Texas to support these solutions.
- Increasing Traction in the Marine Segment: The marine industry represents another important growth area for LiqTech. The company has secured commercial orders for marine dual-fuel engine water treatment systems and is building a backlog for commercial vessels. Additionally, LiqTech is investing in a new marine-focused R&D and localization facility in China, indicating a strategic push to capitalize on this market.
- Growth of Plastics Components: The plastics segment has demonstrated consistent growth, driven by strong external interest, particularly within the food processing industry, and the positive impact of facility upgrades. Plastics components revenue increased in 2025 and is expected to remain a stable contributor to overall revenue.
- Expansion of Aftermarket Sales and Services: LiqTech is observing an uptick in aftermarket sales for both marine and acid applications, leveraging its global installed base. The focus on aftermarket solutions and services, often tied to the expanding installed base of their filtration systems, is expected to contribute to future revenue growth.
AI Analysis | Feedback
Share Issuance
- LiqTech International saw its weighted-average common shares outstanding increase significantly from 6,310,379 in fiscal year 2024 to 9,614,426 in fiscal year 2025.
- A substantial equity raise occurred in 2024, contributing to cash provided by financing activities.
Inbound Investments
- In 2025, the company secured $1,213,801 through a related party loan.
- LiqTech also received a capital contribution from a noncontrolling interest in 2025.
Outbound Investments
- In 2025, LiqTech established a new joint venture in Nantong, China, focused on assembling marine water treatment systems and targeting the marine water treatment market.
- During 2025, the company broke ground on a marine-focused R&D center and localization facility in Haimen, Nantong, China, and established a regional spare parts warehouse to enhance service capabilities for its marine customer base.
Capital Expenditures
- LiqTech reduced its net cash used in investing activities by $206,106 in 2025 compared to the previous year.
- The company anticipates capital expenditures to be notably lower than historical levels in upcoming periods, aiming to utilize existing infrastructure for future growth.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| LiqTech International Stock Lost 15%, Buy Or Wait? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 98.47 |
| Mkt Cap | 19.6 |
| Rev LTM | 6,647 |
| Op Inc LTM | 1,131 |
| FCF LTM | 841 |
| FCF 3Y Avg | 754 |
| CFO LTM | 1,051 |
| CFO 3Y Avg | 951 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.1% |
| Rev Chg 3Y Avg | 1.9% |
| Rev Chg Q | 3.2% |
| QoQ Delta Rev Chg LTM | 0.7% |
| Op Inc Chg LTM | 7.9% |
| Op Inc Chg 3Y Avg | 9.2% |
| Op Mgn LTM | 15.0% |
| Op Mgn 3Y Avg | 13.8% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 16.1% |
| CFO/Rev 3Y Avg | 15.0% |
| FCF/Rev LTM | 10.4% |
| FCF/Rev 3Y Avg | 10.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Systems and Aftermarket | 8 | ||||
| Components | 4 | ||||
| Filters and Membranes | 4 | ||||
| Corporate | 0 | 0 | |||
| Ceramics | 6 | 6 | 7 | 7 | |
| Plastics | 3 | 4 | 4 | 4 | |
| Water | 6 | 8 | 5 | 7 | |
| Other | 0 | 0 | 0 | ||
| Total | 17 | 15 | 18 | 16 | 18 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Components | -0 | ||||
| Systems and Aftermarket | -2 | ||||
| Filters and Membranes | -3 | ||||
| Corporate | -4 | -4 | |||
| Ceramics | -3 | -3 | -5 | -3 | |
| Plastics | -1 | -1 | -1 | -1 | |
| Water | -2 | -1 | -1 | -1 | |
| Other | -5 | -8 | -5 | ||
| Total | -9 | -10 | -9 | -14 | -11 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Systems and Aftermarket | 10 | ||||
| Filters and Membranes | 10 | ||||
| Corporate | 5 | 12 | |||
| Components | 2 | ||||
| Ceramics | 11 | 15 | 14 | 14 | |
| Plastics | 2 | 1 | 1 | 2 | |
| Water | 8 | 9 | 8 | 8 | |
| Other | 11 | 17 | 22 | ||
| Total | 27 | 32 | 36 | 40 | 45 |
Price Behavior
| Market Price | $0.90 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 08/25/2011 | |
| Distance from 52W High | -69.6% | |
| 50 Days | 200 Days | |
| DMA Price | $1.69 | $1.92 |
| DMA Trend | down | down |
| Distance from DMA | -46.8% | -53.2% |
| 3M | 1YR | |
| Volatility | 146.1% | 107.5% |
| Downside Capture | 380.64 | 219.81 |
| Upside Capture | 13.45 | 99.37 |
| Correlation (SPY) | 5.9% | 13.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.24 | 0.68 | -0.72 | -0.21 | 0.58 | 0.47 |
| Up Beta | 2.33 | 2.48 | 2.60 | 2.18 | 1.20 | 0.36 |
| Down Beta | -9.31 | -14.66 | -8.12 | -3.67 | -1.20 | 0.37 |
| Up Capture | -210% | -71% | -82% | -39% | 54% | 9% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 7 | 17 | 25 | 54 | 117 | 337 |
| Down Capture | 1435% | 708% | 164% | 95% | 137% | 97% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 13 | 24 | 34 | 62 | 118 | 375 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LIQT | |
|---|---|---|---|---|
| LIQT | -37.3% | 107.4% | 0.06 | - |
| Sector ETF (XLI) | 28.7% | 16.2% | 1.38 | 6.0% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 13.5% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 1.9% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | 3.9% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 6.3% |
| Bitcoin (BTCUSD) | -40.0% | 42.5% | -1.08 | 12.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LIQT | |
|---|---|---|---|---|
| LIQT | -55.9% | 78.4% | -0.69 | - |
| Sector ETF (XLI) | 13.5% | 17.5% | 0.61 | 10.2% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 11.6% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 2.0% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 8.1% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 8.7% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 8.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LIQT | |
|---|---|---|---|---|
| LIQT | -26.7% | 78.4% | -0.03 | - |
| Sector ETF (XLI) | 14.2% | 20.0% | 0.62 | 14.0% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 15.0% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 1.4% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 9.2% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 10.9% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 3.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/28/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/22/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/22/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/28/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/22/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/22/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/31/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
| 03/31/2021 | 05/12/2021 | 10-Q |
| 12/31/2020 | 03/31/2021 | 10-K |
| 09/30/2020 | 11/09/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/30/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
| 06/30/2019 | 08/14/2019 | 10-Q |
Insider Activity
Updated 6/9/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bleichroeder, Lp | See footnote | Buy | 6092026 | 1.00 | 700,000 | 700,000 | 3,882,239 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bleichroeder, Lp | See footnote | Buy | 6092026 | 1.00 | 700,000 | 700,000 | 3,882,239 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Environmental & Facilities Services Resources |
| Waste360 |
| Waste Dive |
| FacilitiesNet |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.