SCWONasdaqMotors & GeneratorsFiscal year ends December 31
374Water Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 14, 2026
$2.40−0.03 (-1.23%)
Close on Oct 19, 2026
- Market cap
- $42.26M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
-1093.5%−1177.0 pts over 5 years
Operating margin
-9834.2%−9820.7 pts over 5 years
Net margin
-9754.2%−9800.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -51.7% | -58.5% | +20.0% | -8.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 67.7% | -329.4% | -189.0% | |
| Return on assets | -37.2% | 57.1% | -137.1% | |
| Current ratio | 0.46 | 1.11 | 1.40 | |
| Debt to equity | – | – | 0.01 | |
| Net debt to EBITDA | – | – | 0.16× | |
| Interest coverage | -1.0× | -0.1× | – | |
| Inventory turnover | – | – | 1.6× | |
| Capex to revenue | – | 0.0% | 882.7% | |
| Diluted shares | 3M | 3M | 15M |
Where the cash went
Fiscal 2021 to 2025, five years combined
374Water generated $40.74M from operations and spent $2.70M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$40.74M
Used
$2.70M
Capital expenditure$2.70M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-9754.2%
×Asset turnover0.01×
×Equity multiplier1.38×
=Return on equity, FY2025-189.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -9754.2% | 0.01× | 1.38× | -189.0% |
| FY2024 | -2791.4% | 0.03× | 1.17× | -82.3% |
| FY2023 | -1089.3% | 0.06× | 1.13× | -70.5% |
| FY2022 | -155.5% | 0.27× | 1.09× | -45.6% |
| FY2021 | -6579.2% | 0.01× | 1.01× | -51.3% |
| FY2020 | 46.6% | 1.23× | -5.77× | -329.4% |
| FY2019 | -2145.5% | 0.34× | 4.84× | -3517.2% |
| FY2018 | -357.2% | 0.62× | 1.87× | -413.5% |
| FY2017 | 47.4% | 1.96× | 7.11× | 659.9% |
| FY2016 | -21.1% | 1.76× | -1.82× | 67.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
1of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$20.98M
- Cash generatingOperating cash flow above zero-$14.33M
- Return on assets improvedROA up on the prior year-77.1% → -109.3%
- Earnings backed by cashOperating cash flow above net income-$14.33M vs -$20.98M
- Less leverageLong-term debt to assets fell0.0% → 0.3%
- Better liquidityCurrent ratio rose4.76 → 1.40
- No dilutionShare count did not rise13M → 15M
- Gross margin improvedGross margin up on the prior year-204.90% → -1093.48%
- More efficientAsset turnover rose0.03 → 0.01