企業概要
374Water Inc. is an enterprise focused on converting wet wastes, such as sewage sludge, biosolids, and food waste, into recoverable resources through its proprietary AirSCWO technology systems. This operation places the company within the Industrials sector, specifically targeting the Pollution & Treatment Controls industry, where it addresses the growing demand for sustainable waste management solutions in the United States. The company currently maintains a market capitalization of 49.88 百万ドル (49.88M USD) and reports a trailing twelve-month revenue of 215,037 ドル (215,037 USD), while specific employee headcount data is not publicly disclosed in available filings. These financial dimensions indicate that the firm operates as a small-cap entity with a revenue base that is relatively modest compared to major industrial peers, suggesting a niche market position driven by specialized technology rather than broad-scale volume production.
財務健全性
The company reported a revenue of 215,037 ドル (215,037 USD) over the trailing twelve months, yet posted a net income loss of 20,975,052 ドル (20,975,052 USD) and an EBITDA of -20,395,038 ドル (-20,395,038 USD), highlighting a significant disparity between top-line sales and bottom-line profitability that points to substantial operating expenses or one-time charges. Free cash flow stands at -8,729,239 ドル (-8,729,239 USD), indicating that the company is currently consuming cash reserves to fund its operations and capital expenditures, which limits its immediate financial flexibility without external financing. Although the gross margin is listed at 0.0% and the profit margin is also 0.0%, the operating margin shows an anomalous figure of 496.8%, a metric that requires careful interpretation given the negative net income context. On the balance sheet, the firm holds cash totaling 3.20 百万ドル (3.20M USD) against a debt load of 1.38 百万ドル (1.38M USD), resulting in a debt-to-equity ratio of 20.58 which suggests a highly leveraged capital structure relative to equity. The current ratio of 1.40 implies that the company possesses sufficient current assets to cover its short-term liabilities, maintaining a baseline level of liquidity despite cash burn. Furthermore, the return on equity (ROE) is -189.0% and the return on assets (ROA) is -86.4%, metrics that reveal that management is currently generating negative returns on the capital invested and the asset base utilized.
バリュエーション評価
Valuation multiples for the company reflect its unprofitable status, with a trailing P/E ratio marked as N/A due to negative earnings and a forward P/E of -47.67, which implies that the market is pricing in a recovery of earnings rather than current profitability. The price-to-book ratio is 6.79, indicating that the market values the company at a significant premium over its tangible book value, a common phenomenon for firms with intangible assets like proprietary technology or high growth expectations. Alternative valuation metrics show a price-to-sales ratio of 231.97 and an EV/EBITDA of -2.36, suggesting that investors are relying heavily on revenue multiples and enterprise value adjustments rather than earnings power to assess worth. The stock has traded within a 52-week range between a high of 10.90 ドル (10.90 USD) and a low of 1.60 ドル (1.60 USD), providing a historical volatility context for price movements over the past year. With a beta of -0.17, the stock exhibits an inverse correlation to the broader market, meaning it tends to move in the opposite direction of the market index, which is an unusual characteristic for industrial equities and suggests specific idiosyncratic risk factors.
Growth & Income
Growth metrics for the company are not disclosed, with revenue growth year-over-year and earnings growth year-over-year both listed as N/A, preventing a direct quantitative comparison of expansion rates between top-line sales and net income performance. The company does not pay a dividend, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, which means all available earnings (though currently negative) are theoretically retained or used to offset losses rather than distributed to shareholders. In the absence of dividend income, the investment thesis relies entirely on potential capital appreciation and the future monetization of the AirSCWO waste stream treatment technology. Consequently, the overall growth and income profile is characterized by a lack of current cash distribution and undefined historical growth rates, positioning the firm as a speculative growth play dependent on future operational improvements rather than current profitability or income generation.