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PureCycle Technologies, Inc.
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$639M
Market Cap
—
P/E
—
PEG
-18.4%
ROCE
N/M
ROE
1.63
D/E
-1,207.3%
OPM
8
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for PCT including FX impact
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📈 Price History
Ratio Health
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About

PureCycle Technologies, Inc. engages in the production of recycled polypropylene (PP) in Thailand. The company holds a license for restoring waste PP into ultra-pure recycled PP resin, PureFive, which has various applications, including packaging and labeling for consumer products, textiles, and plastic parts for various industries. Its recycling process separates color, odor, other plastics, and additives through a physical separation process. The company was founded in 2015 and is headquartered in Orlando, Florida.

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📈 Growth Pattern
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⭐ Superinvestors Holding PCT
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 2.00M $10.4M 0.01% Mar 2026
Stan Druckenmiller Duquesne Family Office 963.2K $5.0M 0.15% Mar 2026
Jim Simons Renaissance Technologies LLC 145.8K $757K 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED PureCycle Q1 2026: Revenue $4.1M, 8.4M lbs produced, branded sales accelerating.
Revenue & Profitability
Revenue for Q1 2026 was $4.1 million, the fifth consecutive quarter of sequential growth. Net loss was $33.4 million, compared to net income of $8.8 million in Q1 2025 (which included a $56.7 million favorable warrant fair value change). Adjusted EBITDA was -$30.9 million versus -$25.5 million in the prior year. Total liquidity at quarter end was approximately $131 million (including $90 million cash, $31 million marketable securities, $10 million restricted cash). Monthly operation spending was $8.8 million, within the $8-9 million range.
Outlook
Management sees strong tailwinds from macro volatility (tariffs, supply chain disruptions) and regulatory momentum (California SB54 source reduction by 2027, New Jersey minimum recycled content increase to 20% in 2027). Brands are seeking domestic, compliant, stable supply. The pipeline of active opportunities grew to approximately 180. The company reiterates that branded applications totaling 40-50 million lbs of annual demand are ramping in Q2/Q3 2026, with another 20-25 million lbs starting in Q3/Q4.
Growth Drivers
Key growth levers include: commercial ramp with Procter & Gamble (Tide caps shipping Q2, Vicks ZzzQuil caps H2 2026), Plastic Ingenuity coffee lid program (50 billion coffee cups annually in U.S.), film applications (trials on Brückner 6-meter lines, two top-five global food brands), international sales (first sale of 300,000 lbs in Q1), and New Jersey regulatory catalyst (25-50 million lbs incremental demand once resolved). The Ironton compounding asset (mechanical completion April 2026) enables film and thermoform applications.
Balance Sheet & CapEx
Ironton turnaround was completed ahead of schedule and approximately 15% below budget, with over 170 projects targeting capacity, reliability, and quality. The on-site compounding asset reached mechanical completion in April 2026 and is being commissioned. Thailand facility: total investment ~$250 million, mechanical completion by end of 2027, commissioning Q1 2028, production in 2028. Belgium facility: total investment ~$350 million, permits expected year-end 2026, construction Q1 2027, mechanical completion end 2028. A EUR 40 million grant from the European Innovation Fund was finalized in April 2026.
Margins
Operating leverage is emerging: production grew ~95% year-over-year while monthly operation spending grew only 6%, driving cost per pound down. Branded sales are lifting revenue per pound, and co-product pricing improved (HDPE prices roughly doubled). The compounding asset (on-site) is expected to have more attractive unit economics than base resin. Management expects unit economics to improve as commercial ramp accelerates through 2026.
Key Risks
Key risks include dependence on New Jersey regulatory approval to unlock significant demand (25-50 million lbs); qualification timelines with customers (e.g., P&G took longer than anticipated); global supply chain conditions affecting procurement (e.g., seal system); and macro volatility (tariffs, supply disruptions) which, while currently tailwinds, could create uncertainty. The company also faces project development risks on international facilities (Thailand, Belgium).
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-06
Q2 saw operational and commercial progress, with a major plant turnaround completed ahead of schedule, compounding brought in-house, and revenue rising for the sixth straight quarter. Regulatory approvals accelerated customer qualification, and liquidity was strengthened by new financing. Ironton breakeven and further ramp are targeted for the second half.
Q1 2026 Q1 2026 2026-05-06
Revenues exceeded budget with strong branded sales growth and operational improvements. Net loss widened due to higher project costs, but liquidity remains solid. Regulatory and macro tailwinds, plus new customer wins and facility expansions, support a robust 2026 outlook.
Q4 2025 Q4 2025 2026-02-26
Operations ramped in Denver and Ironton, with Q4 revenue of $2.7M and continued sequential growth. Regulatory mandates and strong customer demand support a robust pipeline, while 2026 will focus on commercial ramp and plant sell-out.
Q3 2025 Q3 2025 2025-11-06
Record production and strong commercial momentum in Q3, with major brands moving toward adoption and regulatory trends supporting demand. Cash position remains robust, and key projects in Europe and Asia are advancing on schedule.
Q2 2025 Q2 2025 2025-08-07
Q2 marked a pivotal shift with a $300M capital raise, improved operations, and strong customer demand, including 17 post-trial applications and a major deal with Emerald. Revenue ramp and break-even targets remain on track, with global expansion and regulatory tailwinds supporting growth.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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