PureCycle Technologies, Inc. (PCT) Stock Analysis

Price updated 4 days ago · SEC data refreshed 3 months ago ⓘ · Not investment advice

PureCycle Technologies, Inc.

PCT Basic Materials Plastic Materials📄 SEC filings ↗ CUSIP 74623V103
Valuation N/A
Long-term trend (200d) 40% below 200-day Risk 27/100 Moderate
▾ What's in the 27/100 risk score? (higher = riskier)
Fundamental health (43%) 20/100 → +8.6
leverage 20/100 · Altman Z not scored — input unavailable (see Financial Health)
Smart money (short interest + insider buying) (31%) 31/100 → +9.7
Macro backdrop (VIX, curve, credit, fear/greed + week-over-week momentum) (26%) 33/100 → +8.5
Total27/100

Contributions (weight × component score) sum to the total. This near-term score now includes fundamental health (leverage, FCF trend). It excludes the Altman Z score, whose retained-earnings input this filer does not report separately. See the Financial Health section for the full balance-sheet read.

💵 Price $6.02 · 4 days ago 📄 Financials SEC EDGAR · refreshed 3 months ago
📍 START HERE

How to read PCT (pre-profit growth)

This company is reinvesting instead of generating profit, so a standard DCF cannot price it. The useful question is whether the growth the market is paying for is achievable — and whether the company can fund itself until then.

Where to start — the sections that matter most for this stock
  1. 1 Reverse-DCF — the growth the price demands ↓
    It shows exactly how fast the business must grow to justify today's price. Compare that to what comparable companies have actually achieved.
  2. 2 Cash runway ↓
    Can it reach profitability before it has to raise money and dilute shareholders?
  3. 3 Interactive calculator ↓
    Set your own growth + margin assumptions and see what the business would be worth if you are right.
Or — what are you trying to decide?
A note on process: fear-driven decisions — including fear of missing out — tend to be the expensive ones. A stock up 10% a day for three days is excitement, not evidence. Whichever reader you are, the data below is there to be checked before anything is decided.
🚀
"It's surging — should I chase it?"
The momentum / FOMO trade. Before you chase, see whether the people who know it best are quietly selling into the rally.
🏷️
"Is it a cheap bargain?"
The deep-value trade. How far below assets and our value it trades — and whether it's cheap for a reason.
ⓘ A share-count quirk blocked the per-share math

The share count we read for PCT looks wrong — common for multi-class / founder-controlled filers that report shares per share-class. That makes per-share figures (including intrinsic value) misleading, so we suppressed them. The company's total financials below are sound.

What to use instead: Lean on the totals — revenue, net income, cash flow — and the balance sheet. Multi-class share counts are being corrected; once fixed, the per-share valuation returns automatically.

This note is only about the single DCF fair-value number — PCT's full financial statements, health scores, and written analysis are all below.

ⓘ Why does PCT trade at $6.02?

PureCycle Technologies, Inc. has 180.4 million shares outstanding. At $6.02 per share, the market values all outstanding PCT equity at $1.1 billion. That's market capitalization, not enterprise value — enterprise value also accounts for debt and cash (PCT carries little or no debt, so the two are close here). The share price by itself tells you almost nothing — a company can pick any share price by splitting or issuing more shares. What matters is the total value (Market Cap?Market Cap — The total dollar value the market is assigning to the entire company.
Why it matters: This is the number that actually matters when comparing companies. Two companies with the same business but different share counts have the same market cap.
Reference: Mega cap >$200B · Large $10–200B · Mid $2–10B · Small $300M–2B · Micro <$300M
Full explanation →) compared to what the business actually produces. This page values PCT in Per Share?Per Share — A company-level figure divided by total shares — what one share represents.
Why it matters: Per-share metrics are the only way to fairly compare two companies with different share counts.
Full explanation → economics — what each share represents of the underlying business. Play with the share-price calculator on the homepage →

Loading insider & short-seller data…
Checking filings for failure warnings…
PEER BASKET — LIMITED COMPARABLES

⚠ We found only 2 genuine same-industry (Plastic Materials) comparables — fewer than the 4 we require for a reliable median. The 8 names in the table below therefore include 6 broader Basic Materials names marked fallback, whose business models and margins differ — which is why any median below is computed over that wider set, not over true comparables. So we do not derive a peer-implied share value here. Read the multiples as rough context only.

How does PCT stack up against its closest peers?

Ideally we compare PCT only to same-industry peers, but too few exist in our universe right now, so the basket below mixes in broader-sector names. Treat the multiples as rough context, not a valuation. For a leveraged business, EV/EBIT and FCF yield (both in the table) are usually more reliable than EV/Sales, because revenue multiples ignore differences in margins and debt.

▾ What's "EV / Sales" in plain English?

EV (Enterprise Value) = market cap + total debt − cash. It's "what you'd pay to buy the entire company outright" — you pay the market cap to shareholders and take over their debt, but you keep their cash. EV is fairer than market cap alone because it includes the debt the new owner inherits.

EV / Sales = EV ÷ annual revenue. So "2.5×" means investors pay $2.50 of enterprise value per $1 of yearly sales. Higher = market is paying more per dollar of sales (usually because they expect future growth or fat margins).

p25 / median / p75 are the 25th, 50th (middle), and 75th percentile of the peers' multiples. Half the peers fall between p25 and p75. The median (p50) is the typical peer — that's the benchmark we compare to.

What peers trade at (p25 / median / p75)
EV / Sales?EV / Sales — For every $1 of yearly revenue, this is how many dollars investors pay to own the whole business (including debt).
Why it matters: Works for pre-profit growth companies where P/E and FCF don't apply. The most apples-to-apples cross-company multiple because it ignores accounting choices.
Reference: 1–3x for mature companies · 4–10x for software/SaaS · 10–20x for hypergrowth · >20x is rare and demanding
Full explanation →		 0.4x / 1.3x / 11.9x

Bold middle number = median peer. Half the peers trade above it, half below. Computed over 8 peers (broad — see caveat); implausible multiples excluded.

Peer-implied value check
We're not showing a peer-implied price for PCT: with only 2 genuine same-industry comparables, a median built partly from broader-sector names would be misleading. Lean on the DCF above; use the multiples table only as loose context.

⚠️ Important caveat: peer multiples only work if the peers are genuinely comparable. Always check the peer list below — if the auto-picker grabbed micro-caps or unrelated businesses, the comparison is noise. A medical-device giant priced against tiny biotech startups won't produce a useful signal.

▾ View peer list (8)
Ticker Company Industry Mcap EV/Sales EV/GPEV/EBIT FCF Yield
PCTTW PureCycle Technologies, Inc. Plastic Materials $720M 86.2x —— 0.3%
ASIX AdvanSix Inc. Plastic Materials $605M 0.4x —— 8.8%
VZLA Vizsla Silver Corp. Gold & Silver Mining ·fallback $1.0B — —— —
SLI STANDARD LITHIUM LTD. Industrial Chemicals ·fallback $964M — —— —
TROX Tronox Holdings plc Industrial Chemicals ·fallback $1.3B 0.4x 4.7x— 9.5%
UAN CVR PARTNERS, LP Agricultural Chemicals ·fallback $1.3B 2.1x —10.0x 11.8%
UAMY UNITED STATES ANTIMONY CORP Nonferrous Metals ·fallback $1.3B 33.9x 134.8x— 0.1%
USAS Americas Gold & Silver Corp Metal Mining ·fallback $1.4B 11.9x —— 1.3%
FINANCIAL HEALTH SCREENS

Quality & solvency checks

Cheap stocks can be cheap for a reason. These screens warn when a low valuation comes paired with structural fragility.

Altman Z-Score?Altman Z-Score — A bankruptcy-risk score combining 5 financial ratios into one number. Predictive of bankruptcy within 2 years.
Why it matters: Cheap-looking stocks (low P/E or P/B) often have low Z-scores because the market knows the company is dying. Z-score warns you before you fall into a value trap.
Reference: > 3.0 = safe zone · 1.81–3.0 = grey zone · < 1.81 = distress zone
Full explanation →
n/a
Not reliably computable

We can't produce a trustworthy Altman Z here: retained earnings weren't separately reported in our data, so a core input would have to be fabricated. Rather than show a categorical "distress" verdict from an invented number, we mark it unavailable. Judge financial health from the leverage, cash position, and the measurable Piotroski checks instead.

Piotroski-style checks (partial — not a standard F-score)
4 passed · 3 failed · 2 n/a
Partial result, not a standard F-score: 4 of 7 measurable checks passed. 2 of the 9 standard checks couldn't be measured, so this is scored out of 7, not 9 — it isn't comparable to a published F-score.
▾ The checks — what passed, what didn't (and what we couldn't measure)
  • ✗ Positive net income
    Net income -$182.6M in FY2025.
    Why this matters: Does the company actually earn a profit? Sustained losses eventually force it to raise money — diluting you — or take on debt.
  • ✗ Positive operating cash flow
    Operating cash flow -$142.7M (was -$144.8M the prior year).
    Why this matters: Profit can be an accounting figure; cash from running the business is harder to fake. Negative operating cash flow means the core business consumes cash and must be funded externally.
  • ✓ Cash flow backs up reported profit
    Operating cash flow -$142.7M vs net income -$182.6M.
  • ✓ Return on assets improving
    Return on assets -19.8% vs -36.2% a year ago.
  • ✓ Debt load (vs assets)
    The filing reports no interest-bearing debt in either year (total assets $922.7M).
  • ✓ Short-term liquidity (current ratio)
    Current ratio 2.26x vs 0.59x a year ago.
  • ✗ Share count (dilution)
    Share count rose 9.1% (165.4M → 180.4M year-over-year).
    Why this matters: Issuing lots of new shares splits the pie into more pieces, shrinking your slice. Stable or falling share count protects existing owners.
  • · Pricing power (gross margin) (n/a — data not reported; not scored)
  • · Sales per asset (asset turnover) (n/a — data not reported; not scored)

Missing data is never counted as a pass or a fail — it's shown as n/a and excluded from the denominator. Each check compares the company against its own prior year.

Cash Runway
13 mo
MODERATE — 1-2 years of runway

Plain English: the company holds about $157M in cash and is burning roughly $143M/year in operations. At that pace, the cash lasts 13 mo before it must raise capital (diluting shareholders), take on debt, or cut spending.

Assumes constant burn and ignores financing/asset sales. For pre-profit biotech and growth companies, this matters more than a DCF — a great drug pipeline is worthless if they run out of money before approval.

INTERACTIVE — TWEAK YOUR ASSUMPTIONS

What if you assume different inputs?

Here's where we land — and what happens if you change the assumptions. Drag the sliders to set your own Discount Rate?Discount Rate — The annual return you demand for taking single-stock risk instead of buying a safe Treasury or index fund.
Why it matters: Higher discount rate = stricter valuation (a stock has to produce more cash to be worth holding). Lower = more generous.
Reference: 8–12% is standard · 9–10% matches S&P 500 historical return · Below 7% is illogical for single-stock risk
Full explanation → (the annual return you demand for single-stock risk) and terminal growth; the value updates live so you can see whether the stock looks cheaper or richer. The discount rate starts at 10.0%, the figure our model used for PCT. Open Advanced to also change beta, growth and the rate path.

Note: no headline intrinsic value is published for this stock (the valuation is held for a data-quality reason — see the notes above). The calculator below is a what-if tool: the values it produces are your assumptions played out, not our estimate.

4.5% (risk-free)9-10% normal18% (deep-risk)
0%2-3% (GDP)5% (rarely sustainable)

A full intrinsic value isn't shown for PCT because the valuation is currently held for a data-quality reason (see the guardrail notes above). The reverse-DCF reading still works — it needs only the price and cash flow — but we won't publish a forward value until the underlying data passes our checks.

For comparison — the revenue growth today's price already assumes
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—

—

⚙ Advanced — tinker with every input (beta, growth, rate path, margin → full intrinsic value)
Where the discount rate comes from — discount rate = risk-free + beta × equity-risk-premium
What you'd earn risk-free from government bonds — the floor under every other rate. Slide it down to model the market expecting rate cuts (value rises); up for higher-for-longer.
The extra yearly return investors demand for owning stocks instead of safe bonds — the price of risk. History runs ~4.5–6.5%; we default to 5.5% (slightly conservative). It's an estimate, not a law — lower it if you think equities are less risky than that.
Inflation reduces the purchasing power of a nominal return: a 9% gain at 3% inflation is about 6% in real terms. The intrinsic value above is already in today's dollars (a nominal DCF carries inflation in both the growth and the discount rate), so this switch does not change the value — it restates the return in real terms.
Higher beta → higher discount rate (sets the rate above). 1.0 = moves with the market.
What you think PCT can grow revenue for ~5 years, then fades to terminal.
For a pre-profit company: the % of revenue that eventually becomes free cash flow once mature. (Our published value uses the sector norm.)
All inputs start at the values our model used.

    Copy shareable link to this scenario →

    Price$6.02
    Model IVNot applicable — DCF couldn't price this stock. The other valuation lenses on this page (reverse-DCF, peers, sector lens — whichever apply to this filer) carry the read instead.

    A standard discounted cash flow?DCF — Discounted Cash Flow — sums up all future cash a business will produce, adjusted for the fact that future dollars are worth less than dollars today.
    Why it matters: It is the most fundamentally honest valuation method when applicable — but only works for companies with predictable, positive cash flow.
    Reference: Best for: mature, profitable businesses. Fails for: pre-profit growth, banks, REITs.
    Full explanation →     valuation is not meaningful for PureCycle Technologies due to its consistently negative operating cash flow and net income, indicating a cash-burning growth stage. Investors are likely focused on the company's progress in scaling its plastic recycling technology and securing future revenue streams. The primary quantifiable risk is the company's inability to achieve profitability, as evidenced by its negative operating cash flow.

    ⚠️ Cyclical sector: using normalized cash flow (median OCF minus estimated maintenance capex).

    As of 3 months ago

    ANATOMY

    Anatomy of a share

    What you're buying per share. Bars are at the same scale so you can see the relative size of revenue, costs, cash flow, and debt — not just read them in a table.

    PCT PureCycle Technologies, Inc. stock anatomy showing per-share revenue, operating expenses, free cash flow, and debt
    Revenue figure looks incomplete. Net income divided by the revenue we parsed gives a -2,185% margin, which no operating business earns — the revenue tag we read is almost certainly a fragment (a fee line or a single segment), not consolidated sales. We are not drawing the margin breakdown from it, and revenue-per-share on this page should be treated as unreliable until the filing's total-revenue tag resolves.
    Plain English: each share (at $6) represents $0.05 of revenue per share per year, $1.01 lost per share per year, and $1.10 of cash burned per share (negative free cash flow) from the latest fiscal year. The filing reports no interest-bearing debt — the 572.1M of total liabilities on the balance sheet are operating items (payables, leases, deferred taxes), not borrowings.
    What's free cash flow / what do these mean?

    Revenue per share — how much the business earns from customers, divided by the number of shares outstanding. Top of the income statement.

    Earnings per share — profit left after operating costs, interest, and taxes, per share. Two versions appear on this page and are not interchangeable: GAAP diluted EPS uses the company's weighted-average diluted share count during the reporting period (this is the "earnings" in "price-to-earnings"); net income per current share divides annual net income by today's share count. They differ whenever the share count has changed.

    Owner-earnings free cash flow per share — the cash the business produces for shareholders. Savng's owner-earnings FCF subtracts capital expenditures and stock-based compensation from operating cash flow (SBC is a real dilution cost even though it's non-cash). This is deliberately more conservative than "standard" FCF, which subtracts only capital expenditures — so our figure is lower than the headline FCF you'll see elsewhere. FCF funds dividends, buybacks, debt repayment, and acquisitions; a company can report positive earnings yet negative FCF.

    Debt per share — total interest-bearing borrowings divided by shares. High debt-per-share next to thin FCF-per-share is a fragility signal.

    THE KEY DEBATE

    What you actually need to decide

    Every stock price is a disagreement. Here's the single thing that must go right for the bulls, the single thing that breaks the thesis, and the concrete signposts to watch so you can update your view as real results arrive.

    🐂 The Bull Case
    For the stock to work, PureCycle must successfully scale its purification technology and achieve positive operating cash flow, moving beyond its current negative trend.
    🐻 The Bear Case
    The biggest fundamental risk is the continued negative operating cash flow, which implies ongoing cash burn and potential need for further dilutive financing if profitability is not reached.
    📌 Signposts to watch — update your view as these print
    • Announcement of new plant construction or licensing agreements
    • Progress towards positive operating cash flow
    • Increased production volumes and sales figures
    MOMENTUM — WHAT'S GETTING BETTER & WORSE

    The trend, in plain numbers (FY2024 → FY2025, latest reported)

    Straight from the financial statements — no model, no opinion. For a small or unprofitable company, the direction of these numbers usually tells you more than any single valuation.

    ✅ Improving
    • Free cash flow is negative at -$198.5M — the cash burn narrowed vs last year.
    • Still unprofitable at -$182.6M — loss narrowing.

    Nothing was clearly worsening year-over-year.

    WHO

    Management & Leadership

    Dustin Olson serves as the Chief Executive Officer of PureCycle Technologies, leading the company's efforts to commercialize its recycling technology. He has been instrumental in guiding the company through its development and expansion phases.

    Dustin Olson
    Chief Executive Officer
    Mike Dee
    Chief Financial Officer
    WHAT

    What They Make

    PureCycle Technologies develops and licenses a patented purification technology to recycle waste polypropylene plastic into ultra-pure recycled polypropylene resin, which is then sold to various manufacturers.

    End Markets

    Consumer goods packagingAutomotive componentsHome appliances

    Revenue Drivers

    Sales of ultra-pure recycled polypropylene
    Licensing of purification technology
    Future plant expansions
    Market Cap: 1.1BBeta: 1.88
    WHY

    Why Is It Priced Like This?

    Why Customers Pay

    Provides high-quality recycled plastic
    Supports circular economy initiatives
    Reduces reliance on virgin plastics
    No discounted-cash-flow value for this filer This company's reported free cash flow is negative, so a discounted-cash-flow valuation has no positive cash stream to discount. That is a fact about the business, not missing data — the reported figures below are complete.

    What we use instead: earnings (P/E, EV/EBIT), book value (P/B) — computed from the figures this company does report, shown in the sections below. Those numbers are unaffected by the missing cash-flow data.

    The market is pricing PureCycle Technologies based on expectations for future growth and the successful commercialization of its recycling technology, rather than current cash flow. The company's consistently negative operating cash flow suggests investors are betting on its long-term potential and cash runway, which appears adequate with a current ratio of 2.26.

    HOW

    Business Model & Valuation

    How They Make Money

    Sales of recycled polypropylene resin
    Licensing fees for purification technology
    Joint ventures for new recycling facilities

    The company funds itself primarily through equity raises and has seen its long-term debt fall from $250M to $0M, indicating a focus on deleveraging or avoiding debt.

    Normalized FCF

    Cyclical/commodity sector (Plastic Materials) with negative current FCF: normalized FCF uses multi-year median to smooth through the cycle.

    Show advanced inputs
    Sector Default5.0%
    Best Estimate5.0%
    Methodsector_default
    Growth Basistotal

    What this model does NOT do: this is a consolidated owner-earnings FCF model. Standalone segment assumptions: none. It does not project production volumes, realized commodity prices and unit cash costs independently; their combined effect is embedded in the historical revenue and cash-flow trend the model extrapolates. The calculator above can only approximate a segment's impact through the single consolidated growth rate — it cannot model any one line separately. For a true segment-level view, build a separate model from the company's segment disclosures.

    WHEN

    Maturity & Competitive Position

    Growth stage producer

    Moat Signals

    Proprietary purification technology
    Focus on specific plastic type (polypropylene)
    Early mover advantage in advanced recycling

    Net income and operating cash flow have been negative for the latest period and for 0/5 years, indicating a pre-profitability stage.

    WHERE

    Geography & Markets

    PureCycle Technologies is headquartered in the US, with its initial commercial plant located in Ohio. The company aims for global expansion through licensing and partnerships, though specific geographic revenue splits are not available.

    Geographic Risks

    Concentration risk in polypropylene recycling market
    Regulatory and environmental policy changes
    SIGNALS

    Market Signals

    These are timing signals, not value signals — they describe the stock's recent price behavior, not what the business is worth. Use them for the "the thesis looks good, but is now the moment?" question. Each tile below explains what it's saying.

    Model neutral, tape neutral - aligned.
    RSI?RSI — Relative Strength Index — a 0-100 momentum gauge. Above 70 = overbought; below 30 = oversold.
    Why it matters: Short-term contrarian indicator. Extreme readings often precede mean reversion, though not always.
    Reference: 30–70 normal · >70 overbought · <30 oversold
    Full explanation →     (14)    69.0NeutralMomentum is balanced — neither overbought nor oversold.
    MACD?MACD — Moving Average Convergence Divergence — compares a fast and a slow price trend to gauge momentum direction.
    Why it matters: When the fast line crosses above the slow line, short-term momentum is turning up; below, turning down. A timing cue, not a value signal.
    Reference: Line above signal = bullish momentum · below = bearish
    Full explanation →    BullishLine above signalThe fast trend is above the slow trend — short-term momentum is currently upward.
    50-Day Average$7.99Price below (-24.7%)Price below its 50-day average = near-term downtrend.
    200-Day Average$9.96Price belowThe 200-day line is the long-term trend divider — above it is generally considered a bull market for the stock.
    50 vs 200 CrossDeath50-day below 200-dayA "death cross" — the medium trend is below the long trend (often read as bearish).

    Technicals describe price, not the business. A great company can have a "bearish" tape (a buying chance) and a weak one a "bullish" tape (a trap). Pair these with the valuation and health sections above.

    QUALITY

    Data Quality & Risk Flags (7 notes — click to expand/collapse)
    Guardrail Notes (6)
    • Median OCF is negative — OCF-based normalization not applicable.
    • Normalized OCF-capex was negative. Falling back to median raw FCF.
    • No positive normalized FCF. Using EPS as proxy.
    • Model implies no positive equity value under these assumptions. Valuation is speculative/low-confidence.
    • Extreme valuation (P/IV withheld — see the note above); output dominated by data/units issue (often a multi-class share-count mismatch). Suppressed.
    • DATA UNAVAILABLE: per-share values suppressed due to missing/unreliable shares data.
    FINANCIALS

    Financial Statements (5-year tables — click to expand)

    From PureCycle Technologies, Inc.'s SEC filings (EDGAR).

    Income (5yr)

    YearRevenueNet IncomeEPS
    20258.4M-182.6M$-1.21
    2024—-289.1M$-1.75
    2023—-101.7M$-0.63
    2022—-84.7M$-0.55
    2021—-77.5M$-0.79

    Cash Flow (5yr)

    YearOperating CFCapEx− SBC & adj.Free Cash Flow
    2025 -142.7M 40.8M 14.9M -198.5M
    2024 -144.8M 55.6M 11.7M -212.1M
    2023 -94.9M 153.9M 11.8M -260.6M
    2022 -65.5M 287.2M 10.8M -363.5M
    2021 -54.5M 137.4M 22.6M -214.5M

    How we define FCF: operating cash flow − capital expenditure − stock-based compensation (owner-earnings basis — SBC is a real cost to shareholders even though it's non-cash). Latest year: -142.7M − 40.8M − 14.9M (SBC & adj.) = -198.5M. This is the same owner-earnings FCF definition the valuation model uses, though the DCF's starting value is a mid-cycle estimate (median operating cash flow less estimated maintenance capex and stock compensation — by design NOT the table's FCF, which deducts every year's full capex), not this single year.

    Balance Sheet

    Total Assets922.7M
    Total Liabilities572.1M
    Equity45.9M
    YOU MIGHT ALSO LIKE

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    PG
    Methodology by Pouyan Golshani, MD — founder of Gighz. Savng was built by a physician for busy professionals: every number on this page comes from SEC filings (EDGAR) and FINRA data through transparent, rules-based models — no analyst opinions, no hidden inputs. How we calculate every number →
    ⚠️ Not investment advice. Automated model outputs, last refreshed May 30, 2026 (the analysis-refresh date, not the latest filing period). All models have blind spots. Full disclaimer →
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