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374Water (SCWO) Financials

374Water logo
$2.04 +0.10 (+5.15%)
Closing price 07/9/2026 04:00 PM Eastern
Extended Trading
$2.04 +0.00 (+0.25%)
As of 07/9/2026 07:56 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for 374Water

Annual Income Statements for 374Water

This table shows 374Water's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -0.43 -0.12 0.40 -0.68 -0.51 0.04 -3.16 -4.71 -8.10 -12 -21
Consolidated Net Income / (Loss)		 -0.43 -0.12 0.40 -0.68 -0.51 0.04 -3.16 -4.69 -8.10 -12 -21
Net Income / (Loss) Continuing Operations		 -0.43 -0.12 0.40 -0.68 -0.51 0.04 -3.16 -4.69 -8.10 -12 -21
Total Pre-Tax Income 		-0.43 -0.12 0.40 -0.68 -0.51 0.04 -3.16 -4.69 -8.10 -12 -21
Total Operating Income		 -0.37 -0.06 0.43 -0.68 -0.41 -0.01 -3.17 -4.76 -8.64 -13 -21
Total Gross Profit		 0.53 0.59 0.85 0.19 0.02 0.07 0.05 0.34 -1.11 -0.91 -2.35
Total Revenue		 0.53 0.59 0.85 0.19 0.02 0.09 0.05 3.02 0.74 0.45 0.22
Operating Revenue		 0.53 0.59 0.85 0.19 0.02 0.09 0.05 3.02 0.74 0.45 0.22
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.01 0.00 4.32 4.71 1.36 2.57
Operating Cost of Revenue		 - - - - - 0.01 0.00 4.32 4.71 1.36 2.57
Total Operating Expenses		 0.90 0.65 0.42 0.87 0.44 0.08 3.21 3.45 4.68 12 19
Selling, General & Admin Expense		 0.27 0.32 0.21 0.24 0.22 0.03 1.44 2.33 3.18 9.75 16
Research & Development Expense		 0.63 0.33 0.21 0.63 0.22 0.06 1.77 1.11 1.50 2.14 2.52
Other Operating Expenses / (Income)		 - - - - - - - - - -0.09 -0.02
Total Other Income / (Expense), net		 -0.06 -0.06 -0.03 0.00 -0.10 0.05 0.00 0.07 0.54 0.37 0.17
Other Income / (Expense), net		 - - - - -0.07 0.05 0.00 -0.00 0.09 0.37 0.17
Income Tax Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Weighted Average Basic Shares Outstanding		 31.75M 31.75M 31.75M 31.75M 31.75M 62.41M 94.00M 126.64M 130.37M 144.58M 17.44M
Diluted Earnings per Share		 ($0.01) $0.00 $0.01 ($0.02) ($0.02) $0.00 ($0.03) - ($0.06) ($0.92) ($1.38)
Weighted Average Diluted Shares Outstanding		 31.75M 31.75M 31.75M 31.75M 31.75M 30.74M 94.00M 126.64M 130.37M 13.45M 15.23M
Weighted Average Basic & Diluted Shares Outstanding		 31.75M 31.75M 31.75M 31.75M 31.75M 30.74M 94.00M 126.64M 130.37M 144.58M 17.44M

Quarterly Income Statements for 374Water

This table shows 374Water's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -1.73 -3.08 -2.02 -3.01 -2.70 -4.78 -3.70 -4.58 -4.35 -8.35 -4.57
Consolidated Net Income / (Loss)		 -1.73 -1.43 -2.02 -2.93 -2.70 -1.84 -3.70 -4.58 -4.35 -8.35 -4.57
Net Income / (Loss) Continuing Operations		 -1.73 -3.08 -2.02 -3.01 -2.70 -4.78 -3.70 -4.58 -4.35 -8.35 -4.57
Total Pre-Tax Income 		-1.73 -3.08 -2.02 -2.93 -2.70 -4.78 -3.70 -4.58 -4.35 -8.35 -4.57
Total Operating Income		 -1.88 -3.31 -2.20 -3.02 -2.74 -4.84 -3.79 -4.64 -4.36 -8.36 -4.60
Total Gross Profit		 -0.17 -1.03 -0.30 -0.01 0.04 -0.64 0.14 -0.28 0.21 -2.43 0.35
Total Revenue		 0.01 -0.12 0.32 0.04 0.08 0.01 0.54 0.59 0.76 -1.68 0.55
Operating Revenue		 0.01 -0.12 0.32 0.04 0.08 0.01 0.54 0.59 0.76 -1.68 0.55
Total Cost of Revenue		 0.18 3.76 1.41 0.04 1.26 0.65 0.40 2.87 0.55 -2.93 0.20
Operating Cost of Revenue		 0.18 3.76 1.41 0.04 1.26 0.65 0.40 2.87 0.55 -2.93 0.20
Total Operating Expenses		 1.72 -0.57 1.11 3.01 1.57 4.11 3.92 2.37 4.57 9.59 4.92
Selling, General & Admin Expense		 1.40 -1.12 0.57 2.45 1.14 3.58 3.39 1.83 3.82 8.91 4.50
Research & Development Expense		 0.32 0.55 0.54 0.57 0.42 0.62 0.53 0.53 0.76 0.70 0.45
Other Operating Expenses / (Income)		 - - - - - - -0.00 - - - -0.03
Total Other Income / (Expense), net		 0.15 0.23 0.18 0.01 0.04 0.07 0.09 0.06 0.00 0.03 0.03
Other Income / (Expense), net		 0.15 -0.22 0.07 0.01 0.00 0.07 0.09 0.01 0.00 0.16 0.03
Income Tax Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Weighted Average Basic Shares Outstanding		 132.15M 130.37M 132.67M 132.80M 133.00M 144.58M 144.68M 0.00 169.25M 17.44M 17.50M
Diluted Earnings per Share		 - - ($0.02) ($0.02) $0.02 - ($0.26) ($0.03) $0.03 ($0.48) ($0.26)
Weighted Average Diluted Shares Outstanding		 132.15M 130.37M 132.67M 132.80M 133.00M 134.49M 14.46M 145.07M 151.47M 15.23M 17.45M
Weighted Average Basic & Diluted Shares Outstanding		 132.15M 130.37M 132.67M 132.80M 133.00M 144.58M 144.68M 0.00 169.25M 17.44M 17.50M

Annual Cash Flow Statements for 374Water

This table details how cash moves in and out of 374Water's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.00 -0.00 -0.00 0.01 0.01 0.12 11 2.27 6.40 0.21 -7.45
Net Cash From Operating Activities		 -0.04 -0.15 0.27 0.16 -0.29 0.06 -1.84 -4.95 -9.03 -11 -14
Net Cash From Continuing Operating Activities		 -0.04 0.15 0.27 0.16 -0.29 0.11 -1.43 4.43 -9.03 -11 -14
Net Income / (Loss) Continuing Operations		 -0.43 -0.12 0.40 -0.68 -0.51 0.04 -3.16 4.69 -8.10 -12 -21
Consolidated Net Income / (Loss)		 -0.43 0.12 0.40 -0.68 -0.51 0.04 -3.16 4.69 -8.10 -12 -21
Depreciation Expense		 0.08 -0.03 0.04 0.02 0.01 0.00 0.05 0.07 0.09 0.23 0.75
Non-Cash Adjustments To Reconcile Net Income		 0.40 -0.21 0.00 0.48 0.15 -0.01 1.57 0.61 1.63 2.29 4.20
Changes in Operating Assets and Liabilities, net		 -0.10 -0.02 -0.17 0.34 0.07 0.08 0.12 -0.94 -2.65 -0.67 1.70
Net Cash From Investing Activities		 -0.02 0.00 0.00 0.00 0.00 -0.00 0.03 -2.16 1.85 -0.65 -1.90
Net Cash From Continuing Investing Activities		 -0.02 0.00 0.00 0.00 0.00 0.00 0.20 -2.16 1.85 -0.65 -1.90
Purchase of Property, Plant & Equipment		 - - - - - 0.00 -0.00 -0.14 -0.11 -0.55 -1.90
Acquisitions		 -0.02 - - - - - - - -0.01 -0.10 0.00
Net Cash From Financing Activities		 0.06 -0.15 -0.28 -0.15 0.30 0.00 13 0.03 14 11 8.77
Net Cash From Continuing Financing Activities		 0.06 0.00 -0.28 -0.15 0.30 0.00 -2.82 0.00 14 11 8.77
Repayment of Debt		 -0.01 -0.03 -0.28 -0.15 -0.03 - - - - 0.00 -0.11
Repurchase of Common Equity		 - - - - 0.00 - - - - -0.90 -1.05
Issuance of Debt		 0.03 - - 0.00 0.33 0.00 - - - 0.00 0.60
Issuance of Common Equity		 - - - - - 0.00 5.00 0.00 0.14 12 9.31
Other Financing Activities, net		 0.04 0.03 - - 0.00 0.00 -7.82 - 13 0.06 0.02
Cash Interest Paid		 0.04 0.02 0.05 0.00 0.03 0.00 0.00 0.00 0.00 0.00 0.00
Cash Income Taxes Paid		 - - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Quarterly Cash Flow Statements for 374Water

This table details how cash moves in and out of 374Water's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -1.80 -2.36 -2.51 -2.85 -3.12 8.69 -3.77 -4.73 -1.22 2.27 -2.75
Net Cash From Operating Activities		 -1.82 -2.34 -2.51 -2.43 -2.56 -3.09 -3.49 -4.13 -2.58 -4.12 -2.51
Net Cash From Continuing Operating Activities		 -1.82 -2.34 -2.51 -2.43 -2.56 -3.03 -3.49 -4.13 -2.58 -4.12 -2.51
Net Income / (Loss) Continuing Operations		 -1.73 -3.08 -2.02 -2.93 -2.70 -4.78 -3.70 -4.58 -4.35 -8.35 -4.57
Consolidated Net Income / (Loss)		 -1.73 -3.08 -2.02 -2.93 -2.70 -4.78 -3.70 -4.58 -4.35 -8.35 -4.57
Depreciation Expense		 0.02 0.02 0.02 0.03 0.03 0.15 0.16 0.19 0.20 0.21 0.21
Amortization Expense		 - - - - - - 0.00 - - - 0.00
Non-Cash Adjustments To Reconcile Net Income		 0.15 0.97 0.34 -0.56 0.05 1.01 0.72 -0.25 0.96 2.77 1.44
Changes in Operating Assets and Liabilities, net		 -0.26 -0.24 -0.85 1.04 0.06 0.59 -0.68 0.52 0.61 1.25 0.41
Net Cash From Investing Activities		 -0.04 -0.05 -0.00 -0.40 -0.60 0.35 -0.30 -0.60 -0.46 -0.54 -0.35
Net Cash From Continuing Investing Activities		 -0.04 -0.05 -0.00 -0.40 -0.60 0.35 -0.30 -0.60 -0.46 -0.54 -0.35
Purchase of Property, Plant & Equipment		 -0.04 -0.05 0.00 -0.05 -0.03 -0.48 -0.30 -0.02 -0.46 -1.13 -0.35
Net Cash From Financing Activities		 0.07 0.03 0.00 -0.03 0.04 11 0.02 -0.00 1.83 6.93 0.10
Net Cash From Continuing Financing Activities		 0.07 0.03 0.00 -0.03 0.04 11 0.02 -0.00 1.83 6.93 0.10
Repayment of Debt		 - - - - - - 0.00 - -0.04 -0.07 -0.70
Issuance of Debt		 - - - - - - 0.00 - - - 0.80
Other Financing Activities, net		 - - 0.00 -0.03 0.04 - 0.02 -0.03 1.91 -1.89 0.00
Cash Interest Paid		 - - 0.00 - - - 0.00 - 0.01 -0.01 0.00
Cash Income Taxes Paid		 - - 0.00 - - - 0.00 - - - 0.00

Annual Balance Sheets for 374Water

This table presents 374Water's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 0.30 0.36 0.51 0.10 0.04 0.10 12 9.92 16 19 11
Total Current Assets		 0.24 0.23 0.41 0.03 0.04 0.10 11 8.72 15 15 5.85
Cash & Equivalents		 0.01 0.00 0.00 0.01 0.02 0.07 11 4.05 10 11 3.20
Accounts Receivable		 0.22 0.17 0.40 0.01 0.01 0.03 0.00 0.92 1.60 1.97 0.70
Inventories, net		 - - - - - - 0.00 1.66 2.28 1.70 1.47
Prepaid Expenses		 0.01 0.06 0.01 0.01 0.01 0.00 0.22 0.15 0.58 0.43 0.40
Other Current Assets		 - - - - - - - - 0.00 0.14 0.09
Plant, Property, & Equipment, net		 0.04 0.02 0.01 0.00 0.00 0.00 0.00 0.14 0.23 2.57 3.84
Total Noncurrent Assets		 0.03 0.11 0.09 0.07 0.00 0.00 1.06 1.05 0.99 1.73 1.72
Intangible Assets		 0.00 0.09 0.08 0.07 - 0.00 1.06 1.05 0.99 1.02 0.94
Other Noncurrent Operating Assets		 0.03 0.01 0.00 - - 0.00 - - 0.00 0.71 0.77
Total Liabilities & Shareholders' Equity		 0.30 0.36 0.51 0.10 0.04 0.10 12 9.92 16 19 11
Total Liabilities		 0.53 0.50 0.25 0.04 0.41 0.09 0.09 1.66 1.37 3.71 4.68
Total Current Liabilities		 0.53 0.50 0.25 0.04 0.10 0.09 0.09 1.66 1.37 3.13 4.18
Short-Term Debt		 0.05 - - - 0.00 - - - - 0.00 0.64
Accounts Payable		 0.07 0.08 0.10 0.04 0.10 0.08 0.06 1.45 0.57 0.91 1.25
Accrued Expenses		 - - - - - - - 0.00 0.14 0.57 0.08
Current Deferred Revenue		 - - - - - - 0.00 0.20 0.13 0.20 0.31
Other Current Liabilities		 0.41 0.43 0.15 - 0.00 0.02 0.02 0.01 0.54 1.45 1.90
Total Noncurrent Liabilities		 0.00 0.00 0.00 0.00 0.31 0.00 0.00 0.00 0.00 0.58 0.50
Long-Term Debt		 - - - 0.00 0.09 - - - - 0.00 0.03
Noncurrent Deferred Revenue		 - - - - - - - - 0.00 0.03 0.03
Other Noncurrent Operating Liabilities		 - - - - 0.21 - - - 0.00 0.55 0.43
Total Equity & Noncontrolling Interests		 -0.22 -0.14 0.26 0.07 -0.37 0.01 12 8.25 15 15 6.72
Total Preferred & Common Equity		 -0.22 -0.14 0.26 0.07 -0.37 0.01 12 8.25 15 15 6.72
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -0.22 -0.14 0.26 0.07 -0.37 0.01 12 8.25 15 15 6.72
Common Stock		 12 12 12 13 13 0.01 15 16 31 44 57
Retained Earnings		 -12 -12 -11 -12 -13 0.00 -3.16 -7.85 -16 -28 -50
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - 0.00 -0.02 0.00 0.00 0.00

Quarterly Balance Sheets for 374Water

This table presents 374Water's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 18 15 12 10 16 12 11 11
Total Current Assets		 17 13 8.81 6.08 12 7.53 6.24 5.17
Cash & Equivalents		 13 7.94 5.08 1.96 6.88 2.15 0.93 0.45
Accounts Receivable		 1.71 1.89 1.85 2.02 2.29 2.77 2.81 2.49
Inventories, net		 1.91 2.60 1.02 1.34 1.88 1.82 1.90 1.77
Prepaid Expenses		 0.42 0.92 0.86 0.65 0.34 0.30 0.44 0.46
Other Current Assets		 - - - 0.10 0.20 0.49 0.16 0.00
Plant, Property, & Equipment, net		 0.18 0.22 0.26 0.28 2.72 3.20 3.48 3.99
Total Noncurrent Assets		 1.00 0.97 3.15 3.70 1.68 1.63 1.64 1.85
Intangible Assets		 1.00 0.97 0.98 1.02 1.00 0.98 0.96 0.92
Other Noncurrent Operating Assets		 - - 2.16 2.68 0.68 0.65 0.68 0.92
Total Liabilities & Shareholders' Equity		 18 15 12 10 16 12 11 11
Total Liabilities		 0.57 1.63 1.54 1.59 3.40 3.44 4.87 7.35
Total Current Liabilities		 0.57 1.63 1.54 1.59 2.85 2.88 4.33 3.65
Short-Term Debt		 - - - - - - - 0.01
Accounts Payable		 0.38 0.76 0.89 0.77 0.82 1.05 1.24 1.38
Accrued Expenses		 - 0.14 0.00 0.00 0.38 0.27 0.34 0.11
Current Deferred Revenue		 0.18 0.13 0.03 0.20 0.17 0.19 0.36 0.22
Other Current Liabilities		 0.00 0.61 0.61 0.62 1.48 1.36 2.40 1.93
Total Noncurrent Liabilities		 0.00 0.00 0.00 0.00 0.55 0.56 0.53 3.70
Long-Term Debt		 - - - - - 0.04 0.04 0.66
Noncurrent Deferred Revenue		 - - - - 0.03 0.03 0.03 2.33
Other Noncurrent Operating Liabilities		 - - - - 0.52 0.49 0.46 0.71
Total Equity & Noncontrolling Interests		 17 13 11 8.47 13 8.92 6.50 3.66
Total Preferred & Common Equity		 17 13 11 8.47 13 8.92 6.50 3.66
Preferred Stock		 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 17 13 11 8.47 13 8.92 6.50 3.66
Common Stock		 30 31 32 32 45 46 48 58
Retained Earnings		 -13 -18 -21 -24 -32 -37 -41 -55
Accumulated Other Comprehensive Income / (Loss)		 -0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Annual Metrics And Ratios for 374Water

This table displays calculated financial ratios and metrics derived from 374Water's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 31,750,106.00 31,750,106.00 31,750,106.00 31,750,106.00 31,750,106.00 27,747,698.00 122,817,746.00 253,361,790.00 132,667,107.00 - 169,248,799.00
DEI Adjusted Shares Outstanding		 3,175,011.00 3,175,011.00 3,175,011.00 3,175,011.00 3,175,011.00 2,774,770.00 12,281,775.00 25,336,179.00 13,266,711.00 - 16,924,880.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.13 -0.04 0.13 -0.21 -0.16 0.01 -0.26 -0.19 -0.61 - -1.24
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 23.58% 10.90% 45.07% -77.70% -87.37% 260.71% -44.44% 6,169.27% -75.33% -40.12% -51.73%
EBITDA Growth		 -144.77% 61.99% 538.21% -241.10% 28.99% 108.80% -7,663.09% -50.33% -80.49% -44.23% -65.65%
EBIT Growth		 15.27% 83.39% 801.44% -257.65% 29.18% 108.38% -7,948.07% -50.28% -79.73% -45.43% -68.69%
NOPAT Growth		 15.27% 83.39% 1,102.05% -210.36% 39.35% 95.96% -18,902.02% -50.22% -81.72% -48.14% -65.17%
Net Income Growth		 24.61% 70.99% 426.72% -267.94% 24.17% 107.83% -7,945.42% -48.20% -72.78% -53.44% -68.69%
EPS Growth		 50.00% 100.00% 0.00% -300.00% 0.00% 100.00% 0.00% 0.00% 0.00% -50.00% -50.00%
Operating Cash Flow Growth		 88.48% -277.54% 285.04% -42.13% -282.92% 122.53% -2,942.77% -168.81% -82.57% -17.21% -35.28%
Free Cash Flow Firm Growth		 117.76% -176.55% 129.28% -1,249.52% 123.45% -489.02% -1,307.73% -26.58% -84.04% -17.23% -49.51%
Invested Capital Growth		 -201.00% 20.38% 279.92% -78.43% -622.75% 79.51% 2,075.11% 89.16% 90.16% 12.12% -12.93%
Revenue Q/Q Growth		 6.20% -7.79% 32.36% -65.57% 14.29% 25.90% -32.64% 34.56% -54.98% 41.89% -88.74%
EBITDA Q/Q Growth		 -155.11% 70.03% 126.45% -110.38% -15.83% 130.28% -24.62% -30.03% -26.63% -10.16% -21.51%
EBIT Q/Q Growth		 -2,482.35% 84.72% 108.81% -116.75% -17.53% 129.61% -25.59% -29.05% -26.38% -11.18% -21.00%
NOPAT Q/Q Growth		 -423.58% 84.72% 108.81% -116.75% -0.65% 87.77% -29.39% -29.45% -22.00% -13.56% -19.98%
Net Income Q/Q Growth		 -196.14% 73.32% 142.83% -114.83% -2.58% 137.99% -30.00% -27.73% 3.10% -3.43% -20.52%
EPS Q/Q Growth		 0.00% 100.00% 0.00% -100.00% 0.00% 100.00% 0.00% 0.00% 0.00% 0.00% -1,280.00%
Operating Cash Flow Q/Q Growth		 28.35% -234.63% 507.08% -31.56% -2.30% 48.83% -72.47% -46.17% 0.17% -7.69% -7.74%
Free Cash Flow Firm Q/Q Growth		 136.53% 66.85% -94.90% 23.73% 142.01% -191.18% -10.43% -52.65% 2.31% 2.58% -24.01%
Invested Capital Q/Q Growth		 -169.81% -165.42% 922.72% -45.14% -801.21% 84.81% 15.74% 68.71% -7.74% -25.86% -25.03%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 83.55% 100.00% 11.16% -148.97% -204.90% -1,093.48%
EBITDA Margin		 -53.00% -18.17% 54.87% -347.22% -1,953.00% 47.65% -6,485.70% -155.52% -1,137.76% -2,740.65% -9,404.44%
Operating Margin		 -69.89% -10.46% 50.60% -357.72% -1,718.45% -13.47% -6,582.14% -157.72% -1,161.75% -2,874.26% -9,834.15%
EBIT Margin		 -69.89% -10.46% 50.60% -357.72% -2,006.70% 46.59% -6,581.44% -157.76% -1,149.29% -2,791.39% -9,754.16%
Profit (Net Income) Margin		 -80.52% -21.06% 47.43% -357.23% -2,145.48% 46.59% -6,579.23% -155.53% -1,089.25% -2,791.39% -9,754.16%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 115.21% 201.27% 93.75% 99.86% 106.92% 100.00% 99.97% 98.58% 94.78% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 740.92% -298.75% 0.00% 0.00% -390.40% -192.55% -184.34% -196.44% -328.13%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 1,622.16% 3,838.10% 0.00% 0.00% -373.47% -176.66% -159.35% -163.52% -234.45%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% -81.03% -114.72% 0.00% 0.00% 339.10% 146.97% 113.88% 114.15% 139.17%
Return on Equity (ROE)		 206.47% 67.66% 659.88% -413.47% 337.80% -22.49% -51.30% -45.58% -70.46% -82.29% -188.97%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 8.98% -169.73% 0.00% 0.00% -290.38% -254.22% -246.48% -207.86% -314.31%
Operating Return on Assets (OROA)		 -117.46% -18.47% 98.94% -221.89% -679.98% 57.09% -50.58% -42.61% -65.67% -70.44% -137.14%
Return on Assets (ROA)		 -135.33% -37.17% 92.75% -221.59% -727.01% 57.09% -50.56% -42.01% -62.24% -70.44% -137.14%
Return on Common Equity (ROCE)		 206.47% 67.66% 659.88% -413.47% 337.80% -22.49% -51.30% -45.58% -70.46% -82.29% -188.97%
Return on Equity Simple (ROE_SIMPLE)		 189.65% 87.84% 153.48% -1,044.35% 139.21% 358.55% -25.67% -56.82% -54.95% -80.35% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.26 -0.04 0.43 -0.48 -0.29 -0.01 -2.22 -3.33 -6.05 -8.96 -15
NOPAT Margin		 -48.92% -7.33% 50.60% -250.40% -1,202.92% -13.47% -4,607.50% -110.41% -813.23% -2,011.98% -6,883.91%
Net Nonoperating Expense Percent (NNEP)		 81.38% 434.18% -881.25% -4,136.85% 687.18% -4,123.71% -16.93% -15.89% -24.99% -32.91% -93.68%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - -41.02% -57.92% -200.09%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 16.45% 0.00% 143.39% 632.66% 304.90% 1,193.48%
SG&A Expenses to Revenue		 51.39% 54.13% 24.69% 125.91% 906.29% 30.35% 2,992.19% 77.41% 427.98% 2,188.17% 7,566.68%
R&D to Revenue		 118.50% 56.34% 24.71% 331.81% 912.16% 66.67% 3,689.95% 36.93% 201.11% 481.20% 1,173.99%
Operating Expenses to Revenue		 169.89% 110.46% 49.40% 457.72% 1,818.45% 97.02% 6,682.14% 114.33% 629.09% 2,649.60% 8,731.81%
Earnings before Interest and Taxes (EBIT)		 -0.37 -0.06 0.43 -0.68 -0.48 0.04 -3.17 -4.76 -8.55 -12 -21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.28 -0.11 0.47 -0.66 -0.47 0.04 -3.12 -4.69 -8.46 -12 -20
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 43.90 12.77 5.87 5.13
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50.30 13.69 6.29 5.97
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 120.15 253.23 204.07 160.56
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 157.51 41.36 16.64 7.62
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 118.16 239.18 180.15 148.82
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -0.21 0.00 0.00 0.00 -0.26 0.00 0.00 0.00 0.00 0.00 0.10
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 -0.26 0.00 0.00 0.00 0.00 0.00 0.01
Financial Leverage		 -1.00 -0.10 -0.05 -0.03 -0.22 -0.01 -0.91 -0.83 -0.71 -0.70 -0.59
Leverage Ratio		 -1.53 -1.82 7.11 1.87 -0.46 -0.39 1.01 1.09 1.13 1.17 1.38
Compound Leverage Factor		 -1.76 -3.66 6.67 1.86 -0.50 -0.39 1.01 1.07 1.07 1.17 1.38
Debt to Total Capital		 -26.82% 0.00% 0.00% 0.00% -34.24% 0.00% 0.00% 0.00% 0.00% 0.00% 9.10%
Short-Term Debt to Total Capital		 -26.82% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8.63%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% -34.24% 0.00% 0.00% 0.00% 0.00% 0.00% 0.47%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 126.82% 100.00% 100.00% 100.00% 134.24% 100.00% 100.00% 100.00% 100.00% 100.00% 90.90%
Debt to EBITDA		 -0.17 0.00 0.00 0.00 -0.20 0.00 0.00 0.00 0.00 0.00 -0.03
Net Debt to EBITDA		 -0.15 0.00 0.00 0.00 -0.16 0.00 0.00 0.00 0.00 0.00 0.12
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 -0.20 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -0.18 0.00 0.00 0.00 -0.33 0.00 0.00 0.00 0.00 0.00 -0.05
Net Debt to NOPAT		 -0.16 0.00 0.00 0.00 -0.26 0.00 0.00 0.00 0.00 0.00 0.17
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.33 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 129.17 80.18 11.25 -7.58
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.45 0.46 1.69 0.75 0.37 1.11 131.41 5.25 10.85 4.76 1.40
Quick Ratio		 0.43 0.35 1.65 0.47 0.26 1.11 128.88 4.15 8.77 4.03 0.93
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.10 -0.08 0.02 -0.27 0.06 -0.25 -3.47 -4.40 -8.09 -9.48 -14
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -154,701.68% -3,423.10% -8,524.38% -1,908.26% -754.72%
Free Cash Flow to Firm to Interest Expense		 1.84 -1.29 0.85 -386.87 1.90 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 -0.68 -2.36 9.77 224.82 -8.63 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -0.68 -2.36 9.77 224.82 -8.63 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.68 1.77 1.96 0.62 0.34 1.23 0.01 0.27 0.06 0.03 0.01
Accounts Receivable Turnover		 2.59 3.01 2.97 0.92 3.00 4.64 0.00 0.00 0.59 0.25 0.16
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.39 0.68 1.62
Fixed Asset Turnover		 11.88 19.81 55.52 42.93 0.00 0.00 70.63 41.87 3.98 0.32 0.07
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.16 0.00 5.72 4.66 1.84 2.38
Days Sales Outstanding (DSO)		 141.00 121.34 122.99 397.42 121.67 78.70 0.00 0.00 617.51 1,460.89 2,259.31
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 152.67 534.56 225.66
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 2,273.14 0.00 63.84 78.40 198.70 153.36
Cash Conversion Cycle (CCC)		 141.00 121.34 122.99 397.42 121.67 -2,194.45 0.00 -63.84 691.79 1,796.75 2,331.60
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.18 -0.15 0.26 0.06 -0.30 -0.06 1.20 2.26 4.30 4.82 4.20
Invested Capital Turnover		 -587.10 -3.58 14.64 1.19 -0.20 -0.49 0.08 1.74 0.23 0.10 0.05
Increase / (Decrease) in Invested Capital		 -0.36 0.04 0.41 -0.21 -0.35 0.24 1.26 1.07 2.04 0.52 -0.62
Enterprise Value (EV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 356 178 80 32
Market Capitalization		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 362 188 91 35
Book Value per Share		 ($0.01) $0.00 $0.01 $0.00 ($0.01) $0.00 $0.10 $0.07 $0.11 $0.12 $0.04
Tangible Book Value per Share		 ($0.01) ($0.01) $0.01 $0.00 ($0.01) $0.00 $0.09 $0.06 $0.10 $0.11 $0.03
Total Capital		 -0.18 -0.14 0.26 0.07 -0.28 0.01 12 8.25 15 15 7.40
Total Debt		 0.05 0.00 0.00 0.00 0.09 0.00 0.00 0.00 0.00 0.00 0.67
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.09 0.00 0.00 0.00 0.00 0.00 0.03
Net Debt		 0.04 -0.00 -0.00 -0.01 0.07 -0.07 -11 -5.99 -10 -11 -2.53
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.14 0.11 0.55 1.90
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.25 -0.28 0.17 -0.02 -0.08 -0.06 0.13 1.07 3.08 1.11 -0.89
Debt-free Net Working Capital (DFNWC)		 -0.24 -0.27 0.17 -0.01 -0.06 0.01 11 7.06 14 12 2.31
Net Working Capital (NWC)		 -0.29 -0.27 0.17 -0.01 -0.06 0.01 11 7.06 14 12 1.67
Net Nonoperating Expense (NNE)		 0.17 0.08 0.03 0.20 0.23 -0.05 0.95 1.36 2.05 3.47 6.17
Net Nonoperating Obligations (NNO)		 0.04 -0.00 -0.00 -0.01 0.07 -0.07 -11 -5.99 -10 -11 -2.53
Total Depreciation and Amortization (D&A)		 0.09 -0.05 0.04 0.02 0.01 0.00 0.05 0.07 0.09 0.23 0.75
Debt-free, Cash-free Net Working Capital to Revenue		 -46.54% -47.12% 19.63% -9.61% -348.63% -70.73% 274.63% 35.45% 414.38% 248.85% -414.50%
Debt-free Net Working Capital to Revenue		 -45.48% -46.31% 19.79% -5.15% -265.16% 12.21% 23,416.36% 234.14% 1,818.42% 2,640.09% 1,073.00%
Net Working Capital to Revenue		 -54.46% -46.31% 19.79% -5.15% -265.16% 12.21% 23,416.36% 234.14% 1,818.42% 2,640.09% 776.18%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.01) $0.00 $0.01 ($0.02) ($0.02) $0.00 $0.03 ($0.04) $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 31.75M 31.75M 31.75M 31.75M 31.75M 0.00 94.00M 127.34M 132.67M 144.58M 17.44M
Adjusted Diluted Earnings per Share		 ($0.01) $0.00 $0.01 ($0.02) ($0.02) $0.00 $0.03 ($0.04) $0.00 ($0.09) ($1.38)
Adjusted Weighted Average Diluted Shares Outstanding		 31.75M 31.75M 31.75M 31.75M 31.75M 0.00 126.68M 127.34M 132.67M 134.49M 15.23M
Adjusted Basic & Diluted Earnings per Share		 ($0.01) $0.00 $0.01 ($0.02) ($0.02) $0.00 $0.03 ($0.04) $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 31.75M 31.75M 31.75M 31.75M 31.75M 0.00 126.68M 126.64M 130.37M 144.58M 17.44M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.26 -0.04 0.30 -0.48 -0.29 -0.01 -2.22 -3.33 -6.05 -8.96 -15
Normalized NOPAT Margin		 -48.92% -7.33% 35.42% -250.40% -1,202.92% -9.43% -4,607.50% -110.41% -813.23% -2,011.98% -6,883.91%
Pre Tax Income Margin		 -80.52% -21.06% 47.43% -357.23% -2,145.48% 46.59% -6,579.23% -155.53% -1,089.25% -2,791.39% -9,754.16%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -6.48 -0.99 15.53 -972.82 -14.46 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -4.53 -0.69 15.53 -680.97 -8.67 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -6.48 -0.99 15.53 -972.82 -14.46 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -4.53 -0.69 15.53 -680.97 -8.67 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -5.03%

Quarterly Metrics And Ratios for 374Water

This table displays calculated financial ratios and metrics derived from 374Water's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 132,667,107.00 132,667,107.00 132,667,107.00 132,670,446.00 132,725,652.00 - 144,576,713.00 144,682,963.00 0.00 169,248,799.00 17,441,368.00
DEI Adjusted Shares Outstanding		 13,266,711.00 13,266,711.00 13,266,711.00 13,267,045.00 13,272,565.00 - 14,457,671.00 14,468,296.00 0.00 16,924,880.00 17,441,368.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.13 -0.23 -0.15 -0.23 -0.20 - -0.26 -0.32 0.00 -0.49 -0.26
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -98.67% -115.17% -60.66% -26.16% 563.06% 109.91% 72.26% 1,515.84% 833.14% -14,299.11% 1.48%
EBITDA Growth		 -90.43% -103.16% -30.62% -82.23% -58.30% -32.03% -67.94% -49.04% -53.63% -81.13% -23.32%
EBIT Growth		 -89.03% -102.40% -29.80% -82.15% -58.16% -35.37% -73.71% -53.89% -59.22% -79.82% -23.61%
NOPAT Growth		 -106.18% -88.81% -31.13% -70.66% -45.65% -46.14% -71.97% -53.62% -59.05% -72.74% -21.47%
Net Income Growth		 -89.68% 15.35% -23.42% 11.17% -56.05% -28.84% -82.69% -56.21% -60.97% -74.79% -23.61%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -82.69% -50.00% 50.00% -1,500.00% 0.00%
Operating Cash Flow Growth		 -15.76% 0.64% 21.07% -42.77% -40.66% -32.40% -39.30% -70.14% -0.80% -33.28% 28.22%
Free Cash Flow Firm Growth		 -390.06% -89.96% 49.22% 36.57% 18.93% 10.29% -35.48% -33.94% 42.87% -33.76% 58.20%
Invested Capital Growth		 247.75% 90.16% 23.47% 27.69% 39.51% 12.12% 14.45% 21.61% -13.89% -12.93% -31.81%
Revenue Q/Q Growth		 -75.35% -1,073.63% 363.48% -88.32% 121.31% -85.45% 4,480.80% 9.55% 27.81% -321.38% 132.74%
EBITDA Q/Q Growth		 -4.69% -104.75% 39.97% -41.61% 9.05% -73.11% 19.91% -22.55% 6.25% -91.98% 45.47%
EBIT Q/Q Growth		 -4.90% -103.75% 39.65% -41.21% 8.92% -76.75% 18.90% -22.14% 5.76% -88.07% 44.25%
NOPAT Q/Q Growth		 -6.40% -75.99% 33.55% -37.16% 9.19% -76.57% 21.81% -22.52% 5.98% -91.78% 45.02%
Net Income Q/Q Growth		 47.55% 17.38% -41.51% -44.84% 7.86% 31.78% 22.55% -23.85% 5.05% -91.93% 45.23%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 200.00% 0.00% 22.55% 0.00% 200.00% -1,700.00% 45.83%
Operating Cash Flow Q/Q Growth		 -7.28% -28.13% -7.42% 3.32% -5.70% -20.61% -13.02% -18.09% 37.38% -59.48% 39.13%
Free Cash Flow Firm Q/Q Growth		 11.53% 6.06% 42.96% -33.79% -13.07% -3.96% 13.85% -32.28% 51.77% -143.38% 73.08%
Invested Capital Q/Q Growth		 6.41% -7.74% 15.63% 12.48% 16.26% -25.86% 18.03% 19.52% -17.68% -25.03% -7.56%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 -1,353.86% 0.00% -95.79% -18.26% 47.96% -5,423.84% 25.46% -46.45% 27.96% 0.00% 63.21%
EBITDA Margin		 -13,931.08% 0.00% -667.51% -8,093.53% -3,326.00% -39,039.41% -650.78% -746.50% -547.58% 0.00% -790.83%
Operating Margin		 -15,316.39% 0.00% -698.18% -8,199.40% -3,364.51% -40,833.47% -697.02% -779.53% -573.47% 0.00% -834.30%
EBIT Margin		 -14,088.13% 0.00% -675.30% -8,165.21% -3,360.47% -40,279.28% -680.98% -777.66% -573.38% 0.00% -829.46%
Profit (Net Income) Margin		 -14,088.13% 0.00% -642.12% -7,963.72% -3,315.52% -15,546.49% -680.98% -769.87% -571.93% 0.00% -829.46%
Tax Burden Percent		 100.00% 46.43% 100.00% 100.00% 100.00% 38.60% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 100.00% 87.34% 95.09% 97.53% 98.66% 100.00% 100.00% 99.00% 99.75% 101.79% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -5,902.57% 0.00% -27.99% -281.57% -132.41% -2,790.68% -61.59% -108.38% -126.69% 0.00% -27.21%
ROIC Less NNEP Spread (ROIC-NNEP)		 -5,898.67% 0.00% -22.91% -273.25% -121.80% -2,805.33% -47.44% -71.31% -35.89% 0.00% 13.40%
Return on Net Nonoperating Assets (RNNOA)		 4,597.06% 0.00% 15.56% 181.34% 69.34% 1,958.32% 27.58% 26.19% 6.85% 0.00% -5.50%
Return on Equity (ROE)		 -1,305.51% 0.00% -12.43% -100.24% -63.06% -832.36% -34.01% -82.20% -119.83% 0.00% -32.71%
Cash Return on Invested Capital (CROIC)		 -275.87% -246.48% -163.53% -170.47% -174.33% -207.86% -202.30% -200.23% -188.89% -314.31% -283.26%
Operating Return on Assets (OROA)		 -1,603.76% 0.00% -11.32% -126.02% -75.11% -1,016.41% -30.04% -77.94% -102.26% 0.00% -13.71%
Return on Assets (ROA)		 -1,603.76% 0.00% -10.76% -122.91% -74.11% -392.30% -30.04% -77.16% -102.00% 0.00% -13.71%
Return on Common Equity (ROCE)		 -1,305.51% 0.00% -12.43% -100.24% -63.06% -832.36% -34.01% -82.20% -119.83% 0.00% -32.71%
Return on Equity Simple (ROE_SIMPLE)		 -47.88% 0.00% -65.74% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.32 -2.32 -1.54 -2.11 -1.92 -3.39 -2.65 -3.25 -3.05 -5.85 -3.22
NOPAT Margin		 -10,721.47% 0.00% -488.72% -5,739.58% -2,355.16% -28,583.43% -487.91% -545.67% -401.43% 0.00% -584.01%
Net Nonoperating Expense Percent (NNEP)		 -3.90% 10.81% -5.08% -8.32% -10.60% 14.65% -14.15% -37.07% -90.79% -37.84% -40.62%
Return On Investment Capital (ROIC_SIMPLE)		 - -15.72% -11.93% -19.79% -22.67% -21.90% -21.07% -36.26% -46.71% -79.13% -74.35%
Cost of Revenue to Revenue		 1,453.86% 0.00% 446.43% 118.26% 1,540.07% 5,523.84% 74.54% 482.00% 72.04% 0.00% 36.79%
SG&A Expenses to Revenue		 11,378.53% 0.00% 182.01% 6,642.43% 1,403.42% 30,204.01% 624.23% 308.26% 502.02% 0.00% 815.90%
R&D to Revenue		 2,584.00% 0.00% 169.74% 1,538.71% 521.02% 5,205.61% 98.25% 89.28% 99.41% 0.00% 81.62%
Operating Expenses to Revenue		 13,962.52% 0.00% 351.75% 8,181.14% 1,924.44% 34,667.16% 722.00% 397.53% 601.43% 0.00% 892.41%
Earnings before Interest and Taxes (EBIT)		 -1.73 -3.53 -2.13 -3.01 -2.74 -4.78 -3.70 -4.63 -4.36 -8.20 -4.57
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.71 -3.51 -2.10 -2.98 -2.71 -4.63 -3.53 -4.44 -4.16 -7.99 -4.36
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 9.42 12.77 12.95 14.91 21.32 5.87 3.91 5.26 6.39 5.13 13.54
Price to Tangible Book Value (P/TBV)		 9.99 13.69 14.00 16.42 24.25 6.29 4.25 5.91 7.50 5.97 18.11
Price to Revenue (P/Rev)		 99.54 253.23 648.48 650.53 574.99 204.07 73.01 38.10 21.73 160.56 222.03
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 32.53 41.36 32.01 27.55 27.45 16.64 7.43 6.59 7.25 7.62 12.82
Enterprise Value to Revenue (EV/Rev)		 91.79 239.18 617.69 629.76 568.75 180.15 62.79 36.39 21.26 148.82 223.03
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.10 0.18
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.18
Financial Leverage		 -0.78 -0.71 -0.68 -0.66 -0.57 -0.70 -0.58 -0.37 -0.19 -0.59 -0.41
Leverage Ratio		 1.07 1.13 1.10 1.07 1.08 1.17 1.20 1.25 1.43 1.38 1.66
Compound Leverage Factor		 1.07 0.99 1.04 1.04 1.07 1.17 1.20 1.24 1.43 1.40 1.66
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.41% 0.58% 9.10% 15.48%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8.63% 0.20%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.41% 0.58% 0.47% 15.28%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 99.59% 99.42% 90.90% 84.52%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.03 -0.03
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.14 0.05 0.12 -0.01
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.03
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.05 -0.04
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.19 0.07 0.17 -0.01
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.04
Altman Z-Score		 174.53 81.21 60.16 59.68 64.30 12.57 5.79 3.34 -0.83 -3.88 -4.07
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 29.81 10.85 8.17 5.73 3.81 4.76 4.07 2.61 1.44 1.40 1.42
Quick Ratio		 25.69 8.77 6.01 4.51 2.50 4.03 3.22 1.71 0.86 0.93 0.80
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -4.64 -4.36 -2.49 -3.33 -3.76 -3.91 -3.37 -4.46 -2.15 -5.23 -1.41
Operating Cash Flow to CapEx		 -4,094.79% -4,310.61% 0.00% -5,261.95% -8,868.75% -644.24% -1,175.32% -26,609.45% -565.48% -365.21% -725.06%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.11 0.06 0.02 0.02 0.02 0.03 0.04 0.10 0.18 0.01 0.02
Accounts Receivable Turnover		 1.76 0.59 0.13 0.14 0.17 0.25 0.32 0.53 0.79 0.16 0.09
Inventory Turnover		 0.00 2.39 2.46 3.82 3.98 0.68 0.16 3.42 2.56 1.62 1.30
Fixed Asset Turnover		 10.78 3.98 1.42 1.22 1.36 0.32 0.46 0.71 1.02 0.07 0.07
Accounts Payable Turnover		 3.47 4.66 6.64 8.79 11.24 1.84 0.45 4.99 4.13 2.38 2.15
Days Sales Outstanding (DSO)		 207.49 617.51 2,759.11 2,669.98 2,170.93 1,460.89 1,132.21 685.83 461.53 2,259.31 3,904.24
Days Inventory Outstanding (DIO)		 0.00 152.67 148.52 95.47 91.82 534.56 2,299.06 106.67 142.62 225.66 281.67
Days Payable Outstanding (DPO)		 105.32 78.40 54.94 41.51 32.49 198.70 808.72 73.10 88.48 153.36 170.14
Cash Conversion Cycle (CCC)		 102.16 691.79 2,852.70 2,723.93 2,230.26 1,796.75 2,622.56 719.40 515.66 2,331.60 4,015.77
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 4.66 4.30 4.97 5.60 6.51 4.82 5.69 6.80 5.60 4.20 3.88
Invested Capital Turnover		 0.55 0.23 0.06 0.05 0.06 0.10 0.13 0.20 0.32 0.05 0.05
Increase / (Decrease) in Invested Capital		 3.32 2.04 0.95 1.21 1.84 0.52 0.72 1.21 -0.90 -0.62 -1.81
Enterprise Value (EV)		 152 178 159 154 179 80 42 45 41 32 50
Market Capitalization		 165 188 167 159 181 91 49 47 42 35 50
Book Value per Share		 $0.13 $0.11 $0.10 $0.08 $0.06 $0.12 $0.09 $0.06 $0.04 $0.04 $0.02
Tangible Book Value per Share		 $0.12 $0.10 $0.09 $0.07 $0.06 $0.11 $0.08 $0.05 $0.03 $0.03 $0.02
Total Capital		 17 15 13 11 8.47 15 13 8.95 6.53 7.40 4.33
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.04 0.67 0.67
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.04 0.03 0.66
Net Debt		 -13 -10 -7.94 -5.08 -1.96 -11 -6.88 -2.11 -0.90 -2.53 0.22
Capital Expenditures (CapEx)		 0.04 0.05 0.00 0.05 0.03 0.48 0.30 0.02 0.46 1.13 0.35
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 3.48 3.08 3.78 2.19 2.52 1.11 1.85 2.49 0.97 -0.89 1.08
Debt-free Net Working Capital (DFNWC)		 16 14 12 7.27 4.48 12 8.73 4.64 1.90 2.31 1.53
Net Working Capital (NWC)		 16 14 12 7.27 4.48 12 8.73 4.64 1.90 1.67 1.52
Net Nonoperating Expense (NNE)		 0.41 -0.89 0.48 0.82 0.78 -1.55 1.05 1.33 1.30 2.49 1.35
Net Nonoperating Obligations (NNO)		 -13 -10 -7.94 -5.08 -1.96 -11 -6.88 -2.11 -0.90 -2.53 0.22
Total Depreciation and Amortization (D&A)		 0.02 0.02 0.02 0.03 0.03 0.15 0.16 0.19 0.20 0.21 0.21
Debt-free, Cash-free Net Working Capital to Revenue		 210.32% 414.38% 1,466.11% 894.81% 803.93% 248.85% 274.85% 202.61% 50.83% -414.50% 485.45%
Debt-free Net Working Capital to Revenue		 984.96% 1,818.42% 4,544.86% 2,971.99% 1,428.40% 2,640.09% 1,297.30% 377.12% 99.68% 1,073.00% 686.02%
Net Working Capital to Revenue		 984.96% 1,818.42% 4,544.86% 2,971.99% 1,428.40% 2,640.09% 1,297.30% 377.12% 99.68% 776.18% 682.21%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($0.48) $0.00
Adjusted Weighted Average Basic Shares Outstanding		 132.67M 130.37M 132.67M 132.73M 133.17M 144.58M 14.47M 0.00 169.25M 17.44M 17.50M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($0.30) ($0.03) $0.03 ($0.48) ($0.26)
Adjusted Weighted Average Diluted Shares Outstanding		 132.67M 130.37M 132.67M 132.73M 133.17M 134.49M 14.46M 145.07M 151.47M 15.23M 17.45M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($0.48) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 132.15M 130.37M 132.67M 132.80M 133.00M 144.58M 14.47M 0.00 169.25M 17.44M 17.50M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.32 -2.32 -1.54 -2.11 -1.92 -3.39 -2.65 -3.25 -3.05 -5.85 -3.22
Normalized NOPAT Margin		 -10,721.47% 0.00% -488.72% -5,739.58% -2,355.16% -28,583.43% -487.91% -545.67% -401.43% 0.00% -584.01%
Pre Tax Income Margin		 -14,088.13% 0.00% -642.12% -7,963.72% -3,315.52% -40,279.28% -680.98% -769.87% -571.93% 0.00% -829.46%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -5.03% 0.00%

Financials Breakdown Chart

374Water Financials - Frequently Asked Questions

According to the most recent income statement we have on file, 374Water's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

374Water's net income appears to be on an upward trend, with a most recent value of -$20.98 million in 2025, rising from -$426.63 thousand in 2015. The previous period was -$12.43 million in 2024. See where experts think 374Water is headed by visiting 374Water's forecast page.

374Water's total operating income in 2025 was -$21.15 million, based on the following breakdown:
  • Total Gross Profit: -$2.35 million
  • Total Operating Expenses: $18.78 million

Over the last 10 years, 374Water's total revenue changed from $529.86 thousand in 2015 to $215.04 thousand in 2025, a change of -59.4%.

374Water's total liabilities were at $4.68 million at the end of 2025, a 26.2% increase from 2024, and a 787.1% increase since 2015.

In the past 10 years, 374Water's cash and equivalents has ranged from $1.34 thousand in 2017 to $11.13 million in 2021, and is currently $3.20 million as of their latest financial filing in 2025.

Over the last 10 years, 374Water's book value per share changed from -0.01 in 2015 to 0.04 in 2025, a change of -659.2%.


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Financial statements for NASDAQ:SCWO last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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