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Erayak Power Solution vs 374Water: revenue, profit, margins and growth compared

Erayak Power Solution brought in $22.9M of revenue in fiscal 2025, 374Water $215K in fiscal 2025. Revenue changed by -24.6% at Erayak Power Solution and -51.7% at 374Water on the year before, so Erayak Power Solution grew faster. Erayak Power Solution kept -6.1% of its revenue as net profit, 374Water -9,754.2%. Free cash flow was -$8.4M at Erayak Power Solution and -$16.2M at 374Water.

Side by side, latest fiscal year

RAYASCWO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$22.9M$215K
Revenue growth-24.6%-51.7%
Net income-$1.4M-$21M
Net margin-6.1%-9,754.2%
Free cash flow-$8.4M-$16.2M
Free cash flow margin-36.8%-7,544.9%
Earnings per share (diluted)-$27.28-$1.38
Cash$436.8K$3.2M
Debt$3.4Mn/a
Price to earningsn/an/a
Market value$2M$53.3M
Dividend yieldn/an/a
Rank by revenue in sector#819 of 955 · Consumer discretionary#949 of 955 · Consumer discretionary

Over the years

Revenue
RAYA FY2020: $14.1MRAYA FY2022: $18.6MRAYA FY2022: $26.9MRAYA FY2023: $20.3MRAYA FY2024: $30.3MRAYA FY2025: $22.9MSCWO FY2018: $190.1KSCWO FY2019: $24KSCWO FY2020: $86.6KSCWO FY2021: $48.1KSCWO FY2022: $3MSCWO FY2023: $744KSCWO FY2024: $445.4KSCWO FY2025: $215KFY18FY19FY20FY21FY22FY23FY24FY25
RAYA $22.9MSCWO $215K
Net income
RAYA FY2020: $2.2MRAYA FY2022: $3.4MRAYA FY2022: $3.5MRAYA FY2023: $1.2MRAYA FY2024: -$1.1MRAYA FY2025: -$1.4MSCWO FY2018: -$679.1KSCWO FY2019: -$514.9KSCWO FY2020: $40.3KSCWO FY2021: -$3.2MSCWO FY2022: -$4.7MSCWO FY2023: -$8.1MSCWO FY2024: -$12.4MSCWO FY2025: -$21MFY18FY19FY20FY21FY22FY23FY24FY25
RAYA -$1.4MSCWO -$21M
Net margin
RAYA FY2020: 15.7%RAYA FY2022: 18.2%RAYA FY2022: 12.9%RAYA FY2023: 6.0%RAYA FY2024: -3.7%RAYA FY2025: -6.1%SCWO FY2018: -357.2%SCWO FY2019: -2,145.5%SCWO FY2020: 46.6%SCWO FY2021: -6,579.2%SCWO FY2022: -155.5%SCWO FY2023: -1,089.3%SCWO FY2024: -2,791.4%SCWO FY2025: -9,754.2%FY18FY19FY20FY21FY22FY23FY24FY25
RAYA -6.1%SCWO -9,754.2%
Revenue growth
RAYA FY2022: +31.9%RAYA FY2022: +44.4%RAYA FY2023: -24.5%RAYA FY2024: +49.1%RAYA FY2025: -24.6%SCWO FY2019: -87.4%SCWO FY2020: +260.7%SCWO FY2021: -44.4%SCWO FY2022: +6,169.3%SCWO FY2023: -75.3%SCWO FY2024: -40.1%SCWO FY2025: -51.7%FY19FY20FY21FY22FY23FY24FY25
RAYA -24.6%SCWO -51.7%
Free cash flow
RAYA FY2020: -$8.1MRAYA FY2022: $4.4MRAYA FY2022: -$4.8MRAYA FY2023: $6MRAYA FY2024: -$16.4MRAYA FY2025: -$8.4MSCWO FY2020: $64.8KSCWO FY2021: -$1.8MSCWO FY2022: -$5.1MSCWO FY2023: -$9.1MSCWO FY2024: -$11.1MSCWO FY2025: -$16.2MFY20FY21FY22FY23FY24FY25
RAYA -$8.4MSCWO -$16.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Erayak Power Solution and 374Water

Which is bigger by revenue, Erayak Power Solution or 374Water?

Erayak Power Solution is bigger by revenue: $22.9M in fiscal 2025, against $215K for 374Water in fiscal 2025.

Which keeps more of its revenue as profit, Erayak Power Solution or 374Water?

Erayak Power Solution had a net margin of -6.1% in fiscal 2025; 374Water had -9,754.2% in fiscal 2025.

Which grew revenue faster, Erayak Power Solution or 374Water?

In their latest fiscal years revenue changed by -24.6% at Erayak Power Solution and -51.7% at 374Water.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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