374Water, Inc. (SCWO) AI Stock Analysis

374Water, Inc. specializes in technology solutions addressing environmental pollution challenges by developing waste stream treatment systems that utilize supercritical water oxidation (SCWO) technology. Its proprietary AirSCWO systems treat both hazardous and non-hazardous waste streams. The company serves channel partners including engineering-procurement and construction firms, technology integrators, waste service providers, operations service providers, and non-governmental organizations. End-users comprise utilities, industrial manufacturing facilities, waste management and environmental remediation companies, agricultural enterprises, and governmental entities. Headquartered in Durham, North Carolina, 374Water provides scalable treatment solutions globally.

Revenue has experienced significant volatility, rising from $48,100 in FY2021 to $3.0M in FY2022, before falling to $743,952 in FY2023, $445,445 in FY2024, and $215,037 in FY2025. Across FY2020 to FY2025, revenue grew at a 5-year CAGR of 40.0%. However, gross margin dropped to -1093.5% in FY2025, while operating margin fell to -9834.2%. Annual net income deteriorated over this span, reaching -$21.0M in FY2025 with an EPS of -$0.09. For the trailing twelve months ended June 30, 2026, revenue stood at $1.9M with an operating margin of -71.7% and EPS of -$1.19, though latest quarterly revenue grew 280.2% year-over-year.

As of June 30, 2026, 374Water held $1.8M in cash and short-term investments against total debt of $4.1M, resulting in net debt of $2.3M. The company reported shareholders' equity of $3.0M, total assets of $13.0M, a debt-to-equity ratio of 1.36, and a current ratio of 1.67. Free cash flow for FY2025 was -$16.2M, driven by operating cash flow of -$14.3M and capital expenditures of $1.9M. In FY2025, cash deployment included share buybacks of $649,980, while the share count increased 43.0% over 5 years.

SCWO trades at a price-to-sales ratio of 22.8x and an EV to revenue multiple of 29.9x, both well above the median of its US-listed Industrials peers of 1.5x for price-to-sales. The company carries a market cap of $43.1M and an enterprise value of $56.5M, with a price-to-book ratio of 18.2x. Over the past year, SCWO shares declined 47.2%, lagging the S&P 500 (SPY) return of 16.8%. Over a 5-year period, the stock dropped 88.1% compared to an 83.0% gain for SPY.

The mean price target for SCWO is $2.50, representing an upside of 2.9% relative to its last close of $2.43 on October 16, 2026. Over the last 4 quarters, the company beat earnings estimates 1 time. The company's next earnings date is scheduled for November 11, 2026.

This page is an AI-written research summary of 374Water, Inc. (SCWO). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: SCWO income statement, SCWO balance sheet, SCWO key metrics, SCWO chart. See the SCWO stock overview for the latest quote and news.