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374Water Inc.

SCWO Industrials Pollution & Treatment Controls

374Water Inc.’s revenue for fiscal 2025 (year ended December 2025) was $215,000.00, down 51.7% from fiscal 2024. In the quarter to June 2026, revenue grew 280.2%, EPS grew 50.0%, free cash flow grew 85.3% and total debt rose 7,480.3%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

2.43 0.06 −2.41%
Market cap
$43.9M
P/E
0.0×
Fwd P/E
—
Dividend yield
—
F-score
1/9
Altman Z
−8.07
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.11
Total sells 0.05
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — 2 — — — — — — — — — —
Sell — — — — — — — 1 — — — —
Insider Ownership 43.43%

Capital & Financial Ratios $m

Market Cap 43.88
Revenue 1.89
Net Income (19.96)
Free Cash Flow (11.25)
Net Debt 1.00
Current Ratio 1.67 (at or above 1.5: strong)
Debt/Equity 0.93
P/E ratio 0.00
Fwd P/E —
P/S ratio 22.64 (above 10: high)
P/B ratio 14.33 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth (48.70%) (below 0%: weak)
Next Y EPS Growth 25.00% (at or above 15%: strong)
Next Y revenue growth 25,295.35% (at or above 10%: strong)
Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 23.5×, against a ten-year median of 111×; over the ten years it ranged from 4.5× in 2018 to 4,797× in 2022.
P/S against its own 10 years 31.51%
10-year low 10-year high
P/B against its own 10 years 44.72%
10-year low 10-year high
EV/Sales against its own 10 years 31.85%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 10 11 3 2
Receivables 2 2 1 2
Inventory 2 2 1 2
Other — 0 0 —
15 15 6 6
2023 2024 2025 Q'26
Payables 1 1 1 2
ST’ Debt — — 1 —
Other 0 0 0 0
1 3 4 4

Compound Annual Growth %

10y 5y 3y
Sales (8.63%) 19.95% (58.53%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 258.86% (6.60%)

Revenue $m

Mar Jun Sep Dec Year
’26 1 2 — — —
’25 1 1 1 (2) 0
’24 0 0 0 0 0
’23 1 0 0 0 1
’22 0 1 1 1 3
’21 — 0 0 0 0
’20 0 — 0 0 0
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 0 — — —
’25 (3) (4) (3) (4) (14)
’24 (3) (2) (3) (3) (11)
’23 (3) (2) (2) (2) (9)
’22 0 (1) (2) (2) (5)
’21 0 0 (1) (1) (2)
’20 0 0 0 0 0
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) (1) — — —
’25 (4) (5) (3) (5) (16)
’24 (3) (3) (3) (3) (11)
’23 (3) (2) (2) (2) (9)
’22 0 (1) (2) (2) (5)
’21 0 0 (1) (1) (2)
’20 0 0 0 0 0
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.26) — — — —
’25 (0.30) (0.30) (0.30) (0.52) (1.38)
’24 (0.15) (0.20) (0.20) (0.30) (0.90)
’23 (0.10) (0.10) (0.10) (0.20) (0.60)
’22 (0.07) (0.10) (0.07) (0.13) (0.40)
’21 (0.01) (0.20) (0.06) (0.07) (0.34)
’20 (0.03) 0.00 0.01 0.02 0.01
Fiscal quarters ending in the months shown.
value withheld pending a data check

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 0.50 0.10 0.10 0.50 0.80 1.60 17.60 9.70 6.70 1.60

Analyst estimates 2026–2028

Powerpack
High 3.00 2.00 1.80 9.40 9.50 28.50 66.80 51.70 19.90 10.90
People
People Employees 1 1 1 1 1 7 23 26 27 48
Revenue/emp, $m 0.59 0.85 0.19 0.02 0.09 0.01 0.13 0.03 0.02 0.00
Income, $m
Income, $m Revenue 1 1 0 0 0 0 3 1 0 0
Gross margin, % 100.00 100.00 100.00 100.00 83.49 100.00 11.16 (148.97) (204.92) (1,093.67)
EBT 0 0 (1) (1) 0 (3) (5) (8) (12) (21)
EBT margin, % (21.07) 47.44 (357.23) (2,145.42) 46.54 (6,579.21) (155.53) (1,089.18) (2,791.67) (9,755.86)
Net income 0 0 (1) (1) 0 (3) (5) (8) (12) (21)
Depreciation 0 0 0 0 0 0 0 0 0 1
Per share, $
Per share, $ Revenue 0.19 0.27 0.06 0.01 0.01 0.01 0.24 0.06 0.03 0.01
Earnings (0.04) 0.13 (0.21) (0.16) 0.01 (0.34) (0.40) (0.60) (0.90) (1.38)
Cash flow 0.05 0.09 0.05 (0.09) 0.01 (0.20) (0.39) (0.69) (0.79) (0.94)
Capex 0.00 0.00 0.00 0.00 0.00 0.00 (0.02) (0.01) (0.05) (0.12)
Free cash flow 0.05 0.09 0.05 (0.09) 0.01 (0.20) (0.41) (0.70) (0.84) (1.07)
Book value (0.04) 0.08 0.02 (0.12) 0.00 1.31 0.65 1.13 1.15 0.44
Shares, m 3 3 3 3 6 9 13 13 13 15
Valuation, ×
Valuation, × P/E 0.00 10.20 0.00 0.00 1,312.50 0.00 0.00 0.00 0.00 0.00
P/S 7.02 4.84 8.35 119.06 515.99 3,118.84 121.80 262.84 205.28 144.45
P/B 0.00 15.66 24.42 0.00 4,639.33 21.73 44.50 13.26 5.91 4.62
EV/Sales 7.67 5.29 10.33 130.99 519.94 2,991.40 119.87 249.05 181.79 132.67
EV/FCF 33.83 17.48 13.68 (10.44) 1,031.77 (139.49) (70.25) (20.26) (7.17) (1.75)
Cash, $m
Cash, $m Operating cash flow 0 0 0 0 0 (2) (5) (9) (11) (14)
Capex — — — — 0 0 0 0 (1) (2)
Free cash flow 0 0 0 0 0 (2) (5) (9) (11) (16)
Balance, $m
Balance, $m Working capital 0 0 0 0 0 11 7 14 12 2
Total debt — — — 0 — — — — — 1
Net debt 0 0 0 0 0 (11) (6) (10) (11) (3)
Shareholders’ equity 0 0 0 0 0 12 8 15 15 7
Returns, %
Returns, % ROA (37.18) 92.75 (221.57) (726.75) 57.04 (50.56) (42.01) (62.24) (70.44) (137.14)
ROIC 0.00 102.81 (752.21) 0.00 0.00 (165.46) (131.40) (125.57) (165.91) (315.36)
ROE 67.67 659.71 (413.46) 337.75 (22.48) (51.30) (45.58) (70.46) (82.29) (188.97)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

374Water Inc. vs peers in Pollution & Treatment Controls (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ARQ Arq, Inc. $81.0M — (loss-making) 78.0× +4.54% (above 0%: growing) n/m +46.21% (above 0%: growing) 38.52% (0.23%) Compare
ZONE Zone Frontier Inc. $60.6M — (loss-making) — −0.40% (below 0%: shrinking) n/m −2,753.59% (below 0%: shrinking) 49.85% (1,129.57%) Compare
FTEK Fuel Tech, Inc. $44.3M — (loss-making) — (loss-making) +16.68% (above 0%: growing) n/m −1,603.51% (below 0%: shrinking) 41.25% (24.13%) Compare
SCWO 374Water Inc. $43.9M — (loss-making) — +280.17% (above 0%: growing) n/m +85.28% (above 0%: growing) 87.67% (71.70%)
BCHT Birchtech Corp. $31.8M — (loss-making) — (loss-making) +16.50% (above 0%: growing) n/m −68.00% (below 0%: shrinking) 27.24% (42.81%) Compare
CLIR ClearSign Technologies Corporation $16.7M — (loss-making) — (loss-making) +321.05% (above 0%: growing) n/m −137.48% (below 0%: shrinking) 40.71% (267.50%) Compare
LIQT LiqTech International, Inc. $12.3M — (loss-making) — (loss-making) −11.98% (below 0%: shrinking) n/m −99.23% (below 0%: shrinking) 8.38% (53.44%) Compare
TOMZ TOMI Environmental Solutions, Inc. $12.2M — (loss-making) — (loss-making) +117.91% (above 0%: growing) n/m −531.53% (below 0%: shrinking) 61.65% (10.86%) Compare
CLWT Euro Tech Holdings Company Limited $10.7M 18.1× — −20.86% (below 0%: shrinking) n/m −164.72% (below 0%: shrinking) 18.83% 0.00% Compare
Median of peers $24.3M — — +10.52% — −151.10% 39.62% (33.47%)

All 18 Pollution & Treatment Controls stocks →

374Water Inc. (SCWO) key facts

  • Concern: 374Water Inc.’s revenue for fiscal 2025 (year ended December 2025) was $215,000.00, down 51.7% from fiscal 2024.
  • 374Water Inc. (SCWO) is a Pollution & Treatment Controls company in the Industrials sector, listed on Nasdaq.
  • As of October 16, 2026, SCWO traded at $2.43, a market capitalization of $43.9 million.
  • Return on equity was −189.0% and debt-to-equity 0.93.
  • Its Piotroski F-score is 1 out of 9 and its Altman Z-score is −8.07 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

374Water Inc. (SCWO) Latest News

30 Apr

Impact 5 ·
stockrow.com/SCWO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com