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Franklin Electric vs 374Water: FELE and SCWO compared
Franklin Electric is the larger company: $634M of revenue in its latest quarter (Q3 2026) against $2.3M for 374Water (Q2 2026). 374Water is growing faster (+280% against +9% a year earlier). Franklin Electric is more profitable, with an operating margin of 13.7% against -71.7%.
Where the money goes: FELE and SCWO
Franklin Electric (FELE) · Q3 2026
Franklin Electric, Q3 2026: revenue $634M (+9% year over year), operating margin 13.7%, net earnings $61.0M, operating cash flow $80.5M. The chart follows the revenue to costs, profit and cash.
374Water (SCWO) · Q2 2026
374Water, Q2 2026: revenue $2.3M (+280% year over year), operating margin -71.7%, net loss $2.7M, operating cash flow $211K. The chart follows the revenue to costs, profit and cash.
| Franklin Electric (FELE) | 374Water (SCWO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $634M | $2.3M |
| Revenue growth, Y/Y | +9% | +280% |
| Gross margin | 35.4% | — |
| Operating margin | 13.7% | -71.7% |
| Net earnings | $61.0M | −$2.7M |
| Net margin | 9.6% | -119.2% |
| Operating cash flow | $80.5M | $211K |
| Free cash flow | $66.5M | — |
| Market value | $4.2B | — |
| P/E | 21.2× | — |
| Analysts’ mean target | $127.50 | — |
Where the revenue comes from
Franklin Electric
- Water Systems: $316M (50%)
- Distribution: $226M (36%)
- Energy Systems: $91.7M (14%)
Questions
Which is bigger, Franklin Electric or 374Water?
Franklin Electric is the larger company: $634M of revenue in its latest quarter (Q3 2026) against $2.3M for 374Water (Q2 2026).
Is Franklin Electric or 374Water growing faster?
374Water is growing faster (+280% against +9% a year earlier).
Which is more profitable, Franklin Electric or 374Water?
Franklin Electric is more profitable, with an operating margin of 13.7% against -71.7%.
More: Franklin Electric earnings · how Franklin Electric makes money · 374Water earnings · how 374Water makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Aug 14, 2026). Fiscal quarters can end on different dates. Not investment advice.