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374water Inc. (SCWO) stock

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NASDAQ: SCWO Nasdaq Environmental & Facilities Services Next results ~November 12, 2026

D Fundamentals grade

374water Inc. is a US-listed company in the environmental & facilities services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for 374water Inc. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

374water 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.

  • Insiders2 buying, 1 selling2 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds14 adding, 15 cuttingOf 3 active managers that changed their stake, 2 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter 374water files

Where 374water stands after its latest 10-Q

374water has little or no product revenue yet; it used $12m of cash in the twelve months to June 2026. That growth ranks 1 of 13 among the environmental & facilities services companies we cover. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 5 of our 7 financial-health checks.

Our model value for 374water is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 14, 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 12, 2026 (estimated)

374water Inc.'s trailing-twelve-month revenue grew 53.5% year on year, with a free-cash-flow margin of -626.5%. Where it stands out: revenue growth of 53.5% ranks 1 of 17 environmental & facilities services companies we cover. Where it lags: operating margin of -1002.2% ranks 16 of 16 environmental & facilities services companies we cover.

Current signal Capital expenditure surging: TTM capex grew 245% year over year and now absorbs 150.2% of revenue.

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

  • Fast growth. Revenue grew 53.5% over the last 12 months, against a median of 6.0% for environmental & facilities services companies we cover.
  • Growth speeding up. The growth rate is 120.4 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 297.6 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Loss-making. Operating margin is -1002.2%: costs exceed revenue.
  • Burning cash. Free cash flow was -626.5% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 223.5% of revenue, against a median of 0.7% for environmental & facilities services companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 48.3% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 101% and a beta of 2.1 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 120 days ranks 15 of 16 environmental & facilities services companies we cover (median 64 days).

Latest results: FY2026 Q2

Filed August 14, 2026
Earnings per share
-$0.20 against an average estimate of -$0.20: beat by 0.0%
Revenue
$2m, up 280.2% on a year earlier
Share reaction
+1.2% in the first session after the results on August 18, 2026, against -0.5% for the S&P 500
Next report
November 12, 2026

374water's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.3%
  • 1 week+7.6%
  • 1 month-17.5%
  • This year+24.5%
  • 1 year-33.2%
  • 5 years-89.8%
  • 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)
$1.9M
Operating margin
-1002.2%
Net margin
-1056.2%

Growth

Revenue growth
+53.5%
Change in growth rate
+120.4 pts

Cash

Free cash flow (TTM)
-$11.8M
FCF margin
-626.5%
Stock pay % of revenue
223.5%

Earnings

Last results
August 18, 2026

News & updates

Updated October 31, 2026

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

  1. Announcement
  2. Shareholder vote
  3. Results
  4. Results
  5. Leadership

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

374water Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value 374water Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.4%: the 10-year Treasury yield (4.9%) plus a beta of 1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.1 ~$0.0–$0.5 Left out: out of range vs price (0.02x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare 374water Inc. with Environmental & Facilities 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.

Valuation multiples over time Market data may be delayed

At fiscal year end 2015201620172018201920202021202320242025
Share price$1.20$1.30$1.20$0.50$0.90$8.40$28.50$14.20$6.80$2.04
Market value$11m$12m$11m$5m$9m$77m$268m$185m$91m$31m
+ Net debt (− = net cash)$82162−$4786−$1336−$8482$89092−$71799−$11m−$10m−$11m−$3m
Enterprise value$12m$12m$11m$5m$9m$77m$257m$175m$81m$28m
Multiples
Price / sales 21.6x21.1x13.4x25.1xn/mn/mn/mn/mn/m144.5x
Price / earnings ——28.3x——n/m————
Price / free cash flow —————n/m————
EV / EBITDA ——24.4x———————

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

10 /100

Weak moat

How hard 374water'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 0 / 20

    Net income has been a median -85.6% of total assets over 10 years.

  • Pricing power 0 / 20

    Gross margin has been a median 14.0%, moving by 210.9 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median -935.7%; its worst year was -4255.9%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 7 years, at a median -626.5% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 84.2% over five years; stock-based pay has been a median 90.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

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 12, 2026.

Analysts' consensus

No analyst estimates are published for 374water Inc.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2024 −$0.20 −$0.20 0.0%
Jun 2024 −$0.20 −$0.20 0.0%
Mar 2024 −$0.20 −$0.20 0.0%

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

Positioning

Short interest
1.4%
of tradable shares
Days to cover
4.35
at average volume
Short interest, 1 month
−29%
to October 15, 2026
Held by institutions
11%
of shares
Held by insiders
43.0%
of shares
Employees
48
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 −33.2%

$3.80 on October 31, 2025 to $2.54

ThenNowEffect
Revenue (last 12 months) $1m $2m +53.5%
P/S multiple 42.9x 21.7x −49.3%
Share count 14m 16m −14.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

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
SCWO+239%+0%−50%−52%−70%+25%
Industry peers (median)+31%−7%+21%+16%−5%+0%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SCWO58%33%42%42%25%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SCWO−55%−63%−80%−66%−75%−46%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 96% from April 3, 2023 to December 29, 2025. Getting back needed a 2707% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.76 – $4.30
From 52-week high
−40.9%
vs 50-day average
−9.1%
vs 200-day average
−2.6%
Volatility (1 year)
101%
Beta vs S&P 500
2.11

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
7 up, 5 down
typical move ±8.4%
After a week
4 up, 8 down
typical move ±11.6%
After a month
7 up, 5 down
typical move ±31.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 18, 2026 +1.2% −0.5% −3.7% +32.1%
August 11, 2026 +7.9% −0.1% +16.3% +48.8%
May 14, 2026 +1.8% −0.4% +6.3% +4.1%
March 31, 2026 +5.1% +3.7% +4.0% −9.8%
March 11, 2026 +5.0% −1.6% +13.7% +29.6%
November 12, 2025 −26.3% −1.6% −34.2% −26.3%
August 12, 2025 +4.2% +1.4% 0.0% +62.5%
May 15, 2025 +3.3% +1.1% 0.0% +30.0%
March 27, 2025 −12.8% −2.3% −23.1% −30.8%
November 14, 2024 −26.4% −1.9% −27.1% −42.1%
August 16, 2024 −4.4% +1.2% −2.7% +49.6%
May 16, 2024 −2.9% −0.1% −8.6% −15.8%

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.

374water Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

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) 374water Inc.
$0 $500K $1M $1.5M $2M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.7M Revenue (TTM), FY23 Q4: $744K Revenue (TTM), FY24 Q1: $257.8K Revenue (TTM), FY24 Q2: $244.7K Revenue (TTM), FY24 Q3: $313.9K Revenue (TTM), FY24 Q4: $445.4K Revenue (TTM), FY25 Q1: $673.3K Revenue (TTM), FY25 Q2: $1.2M Revenue (TTM), FY25 Q3: $1.9M Revenue (TTM), FY25 Q4: $215K Revenue (TTM), FY26 Q1: $223.1K Revenue (TTM), FY26 Q2: $1.9M $1.9M

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

View chart data
Period Revenue (TTM)
FY23 Q3 $1.7M
FY23 Q4 $744K
FY24 Q1 $257.8K
FY24 Q2 $244.7K
FY24 Q3 $313.9K
FY24 Q4 $445.4K
FY25 Q1 $673.3K
FY25 Q2 $1.2M
FY25 Q3 $1.9M
FY25 Q4 $215K
FY26 Q1 $223.1K
FY26 Q2 $1.9M
Revenue growth, TTM YoY 374water Inc.
-200% 0% 200% 400% 600% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -26.3% Revenue growth, TTM YoY, FY23 Q4: -75.3% Revenue growth, TTM YoY, FY24 Q1: -92.7% Revenue growth, TTM YoY, FY24 Q2: -90.5% Revenue growth, TTM YoY, FY24 Q3: -81.0% Revenue growth, TTM YoY, FY24 Q4: -40.1% Revenue growth, TTM YoY, FY25 Q1: 161.2% Revenue growth, TTM YoY, FY25 Q2: 403.2% Revenue growth, TTM YoY, FY25 Q3: 508.5% Revenue growth, TTM YoY, FY25 Q4: -51.7% Revenue growth, TTM YoY, FY26 Q1: -66.9% Revenue growth, TTM YoY, FY26 Q2: 53.5% 53.5%

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

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -26.3%
FY23 Q4 -75.3%
FY24 Q1 -92.7%
FY24 Q2 -90.5%
FY24 Q3 -81.0%
FY24 Q4 -40.1%
FY25 Q1 161.2%
FY25 Q2 403.2%
FY25 Q3 508.5%
FY25 Q4 -51.7%
FY26 Q1 -66.9%
FY26 Q2 53.5%
Operating margin (TTM) 374water Inc.
-10000% -5000% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -428.7% Operating margin (TTM), FY23 Q4: -1161.8% Operating margin (TTM), FY24 Q1: -3555.7% Operating margin (TTM), FY24 Q2: -4255.9% Operating margin (TTM), FY24 Q3: -3591.5% Operating margin (TTM), FY24 Q4: -2874.3% Operating margin (TTM), FY25 Q1: -2137.0% Operating margin (TTM), FY25 Q2: -1299.8% Operating margin (TTM), FY25 Q3: -922.6% Operating margin (TTM), FY25 Q4: -9834.2% Operating margin (TTM), FY26 Q1: -9843.4% Operating margin (TTM), FY26 Q2: -1002.2% -1002.2%

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

View chart data
Period Operating margin (TTM)
FY23 Q3 -428.7%
FY23 Q4 -1161.8%
FY24 Q1 -3555.7%
FY24 Q2 -4255.9%
FY24 Q3 -3591.5%
FY24 Q4 -2874.3%
FY25 Q1 -2137.0%
FY25 Q2 -1299.8%
FY25 Q3 -922.6%
FY25 Q4 -9834.2%
FY26 Q1 -9843.4%
FY26 Q2 -1002.2%
FCF margin (TTM) 374water Inc.
-8000% -6000% -4000% -2000% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -551.9% FCF margin (TTM), FY23 Q4: -1228.7% FCF margin (TTM), FY24 Q1: -3283.6% FCF margin (TTM), FY24 Q2: -3774.3% FCF margin (TTM), FY24 Q3: -3173.4% FCF margin (TTM), FY24 Q4: -2501.9% FCF margin (TTM), FY25 Q1: -1845.9% FCF margin (TTM), FY25 Q2: -1144.9% FCF margin (TTM), FY25 Q3: -761.5% FCF margin (TTM), FY25 Q4: -7544.9% FCF margin (TTM), FY26 Q1: -6852.3% FCF margin (TTM), FY26 Q2: -626.5% -626.5%

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

View chart data
Period FCF margin (TTM)
FY23 Q3 -551.9%
FY23 Q4 -1228.7%
FY24 Q1 -3283.6%
FY24 Q2 -3774.3%
FY24 Q3 -3173.4%
FY24 Q4 -2501.9%
FY25 Q1 -1845.9%
FY25 Q2 -1144.9%
FY25 Q3 -761.5%
FY25 Q4 -7544.9%
FY26 Q1 -6852.3%
FY26 Q2 -626.5%

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

Financial statements

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

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 0 0 0 0 1 1 1 0 0 0 0 3 1 0 0 2
Gross profit 0 0 0 0 0 1 — — — — 0 0 0 −1 −1 −2 0
EBITDA −0 −3 −5 −1 −0 −0 −0 0 −1 −0 −0 −3 −5 −9 −13 −20 −18
Operating income −0 −3 −5 −1 −0 −0 −0 0 −1 −0 −0 −3 −5 −9 −13 −21 −19
Net income −0 −3 −5 −1 −1 −0 −0 0 −1 −1 0 −3 −5 −8 −12 −21 −20
Diluted EPS −$0.00 −$0.03 −$0.06 −$0.01 −$0.07 −$0.00 $0.00 $0.00 −$0.01 −$0.01 $0.00 $0.30 — −$0.60 −$0.92 −$1.38 —
Growth (year on year)
Revenue — +471.5% +0.2% +85.5% +19.3% +23.6% +10.9% +45.1% −77.7% −87.4% +260.7% −44.4% +>999% −75.3% −40.1% −51.7% +53.5%
EBITDA — — — — — — — — −241.1% — — — — — — — —
Operating income — — — — — — — — −257.7% — — — — — — — —
Net income — — — — — — — — −267.9% — — <−999% — — — — —
Diluted EPS — — — — — — — — −300.0% — — — — — — — —
Margins
Gross margin 100.0% 29.2% 100.0% 100.0% 100.0% 100.0% — — — — 83.5% 100.0% 11.2% −149.0% −204.9% <−999% 6.2%
EBITDA margin −972.3% <−999% <−999% −198.4% −46.8% −55.4% −5.0% 54.9% −347.2% <−999% −13.5% <−999% −155.5% <−999% <−999% <−999% −959.6%
Operating margin −989.1% <−999% <−999% −262.8% −101.9% −69.9% −10.5% 50.6% −357.7% <−999% −13.5% <−999% −157.7% <−999% <−999% <−999% <−999%
Net margin −911.2% <−999% <−999% −293.6% −132.0% −80.5% −21.1% 47.4% −357.2% <−999% 46.6% <−999% −155.5% <−999% <−999% <−999% <−999%
Free-cash-flow margin −891.8% −765.5% — −71.4% −81.9% — — — — — 74.8% <−999% −168.9% <−999% <−999% <−999% −626.5%
Cash flow
Cash from operations −0 −1 −1 −0 −0 −0 −0 0 0 −0 0 −2 −5 −9 −11 −14 −9
Capital spending 0 0 — −0 0 — — — — — 0 0 0 0 1 2 3
Free cash flow −0 −1 — −0 −0 — — — — — 0 −2 −5 −9 −11 −16 −12
Stock-based pay — 0 1 0 0 0 0 0 0 0 0 0 1 1 1 4 4
Free cash flow after stock pay — −2 — −0 −0 — — — — — 0 −2 −6 −10 −12 −20 −16
Balance sheet
Cash 0 0 0 0 0 0 0 0 0 0 0 11 4 10 11 3 2
Total debt 0 0 0 0 0 0 0 0 0 0 — — 0 0 0 0 6
Net debt (negative = net cash) −0 0 −0 −0 −0 0 −0 −0 −0 0 −0 −11 −4 −10 −11 −3 4
Diluted shares — 8m 8m 8m 9m 10m 10m 10m 10m 10m 9m 9m — 13m 13m 15m —
Returned to shareholders
Buybacks — 0 −0 — — — — — — 0 0 — — — — — —
Total returned — 0 −0 — — — — — — 0 0 — — — — — —

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

5 of 7 checks passed · June 30, 2026
What it owns · $13m
Short-term assets $6mLonger-term assets $7m
What it owes, and who funded it · $13m
Short-term liabilities $4mLonger-term liabilities $6mShareholders' equity $3m
  • Short-term assets cover short-term liabilities $6m of assets due within a year against $4m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $6m short-term assets against $6m of longer-dated liabilities.
  • More cash than debt $2m of cash against $30,400 of debt.
  • Debt below 40% of shareholders' equity Debt is 1% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 1% to 1% over five years.
  • A year's operating cash flow covers at least 20% of debt −$9m of operating cash flow against $30,400 of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From 374water 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

R&D spending
116.1%
of revenue
Days sales outstanding
120 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in environmental & facilities services
Last 12 months unless stated SCWO OIO TOMZ CDTG PESI PMEC Median
Revenue, last 12 months $2m $6m $7m $18m $57m $78m $2.0bn
Revenue growth, last 12 months 53.5% −4.4% 11.4% −38.8% −4.7% 4.9% 6.0%
Revenue growth, 3-year average −9.7% — −8.1% — −6.4% — 4.8%
Revenue growth, latest quarter 280.2% — 117.9% — −11.7% — 7.4%
Gross margin 6.2% 84.1% 52.9% 41.5% −2.8% 17.1% 33.4%
Operating margin <−999% — −41.0% −63.9% −33.4% −2.5% 3.5%
Operating margin, 3-year average <−999% — −54.7% — −22.4% — 4.4%
Net margin <−999% −81.6% −49.8% −55.9% −37.0% −3.1% 0.7%
Cash from operations / revenue −476.3% 5.4% −29.3% −8.2% −28.1% −5.0% 5.4%
Free-cash-flow margin −626.5% −15.2% −29.4% −8.2% −38.6% −7.3% 3.4%
Free-cash-flow margin, 3-year average <−999% — −26.0% — −24.8% — 3.6%
Stock pay / revenue 223.5% 21.2% 2.6% 11.8% 1.5% 0.0% 0.7%
Change in share count 48.3% 61.2% −5.1% 17.6% 9.4% 2.2% −0.3%

Median of all 17 companies we cover in environmental & facilities 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

17 environmental & facilities services companies
Measure Company Peer median Rank
Revenue growth Growth 53.5% 6.0% 1 of 17
Change in growth rate Growth +120.4pp +0.6pp 1 of 17
Gross margin Profitability 6.2% 33.1% 14 of 15
Operating margin Profitability -1002.2% 3.5% 16 of 16
Net margin Profitability -1056.2% 0.7% 17 of 17
Free-cash-flow margin Cash generation -626.5% 3.4% 17 of 17
Stock pay as % of revenue Cash generation 223.5% 0.7% 17 of 17
Long-term debt as % of assets Balance sheet 0.2% 32.5% 1 of 15
Days sales outstanding Balance sheet 120 days 64 days 15 of 16

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

Who owns it

Funds buying and selling
Reported value
$3.4M
Institutions reporting
44
Shares held vs prior quarter
▲ 2.4%
Positions opened / closed
6 / 9

Top buyers and sellers, Q2 2026: 14 institutions bought and 15 sold ; the biggest buyer was Blackrock, Inc (+40K shares) and the biggest seller Millennium Management LLC (−15K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Vanguard Capital Management LLC $613,297 323K 18.1% 0.0%
Captrust Financial Advisors $392,802 207K 11.6% 0.0%
Hamilton Lane Advisors LLC $304,433 160K 9.0% 0.0%
D.A. Davidson & Co. $281,540 148K 8.3% ▲ 9.4%
Blackrock, Inc. $227,086 120K 6.7% ▲ 50.7%
Icon Wealth Advisors, LLC $205,886 108K 6.1% 0.0%
Geode Capital Management, LLC $204,824 108K 6.0% ▼ 9.7%
Vanguard Fiduciary Trust Co $133,198 70K 3.9% ▲ 44.7%
Raymond James Financial Inc $111,013 58K 3.3% ▲ 49.7%
Sigma Planning Corp $105,551 56K 3.1% ▲ 6.1%
Osaic Holdings, Inc. $95,670 50K 2.8% ▼ 20.5%
Millennium Management LLC $92,072 48K 2.7% ▼ 23.9%

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 374water Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $107,900 2 trades by 2 insiders, last 12 months Insider sales History → $45,046 2 trades by 1 insider · 0% under pre-set plans
Net ▲ $62,854 net buying
Insider Date Trade Shares Price Value
Meyers Brad Ian Chief Operating Officer June 12, 2026 Sell 9,831 $2.33 $22,906
Meyers Brad Ian Chief Operating Officer June 11, 2026 Sell 9,000 $2.46 $22,140
Jones Stephen J Interim CEO December 16, 2025 Buy 450,000 $0.23 $103,500
Russell Kline Chief Financial Officer December 16, 2025 Buy 20,000 $0.22 $4,400

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

  • August 18, 2026
  • August 11, 2026
  • May 14, 2026
  • March 31, 2026
  • March 11, 2026
  • November 12, 2025

Recent SEC filings

Data status

When each part of this page on 374water 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.

374water Inc. in brief

What does 374water Inc. do?
374water Inc. is a US-listed company in the environmental & facilities services industry. Its financial year ends in December.
What is 374water Inc.'s stock ticker?
374water Inc. trades under the ticker SCWO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is 374water Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, 374water Inc. reported revenue of $1.9M, 53.5% higher than a year earlier, according to its SEC filings.
What is 374water Inc.'s free cash flow?
374water Inc.'s free-cash-flow margin is -626.5% of revenue over the trailing twelve months, ranking 17 of the 17 environmental & facilities services companies we cover.
Who are 374water Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Vanguard Capital Management LLC, Captrust Financial Advisors and Hamilton Lane Advisors LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is 374water Inc.'s market cap?
On December 31, 2025, 374water Inc.'s market capitalisation was about $31.1M and net debt of -$3.2M. Market figures come from third-party market data and may be delayed.
How much debt does 374water Inc. have?
374water Inc.'s debt-to-equity ratio is 1.0%, from its latest balance sheet (0.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are 374water Inc.'s competitors?
In our Environmental & Facilities Services peer group, the companies closest to 374water Inc. are OIO Group, Tomi Environmental Solutions, Inc., CDT Environmental Technology Investment Holdings Ltd, Perma FIX Environmental Services Inc and Primech Holdings Ltd. The side-by-side comparison below sets their revenue, margins and growth against 374water Inc.'s.
Are insiders buying or selling 374water Inc. stock?
Over the last 12 months, 374water Inc.'s directors and officers reported 2 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is 374water Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — 374water Inc. announces its own schedule.