Birchtech (BCHT)


Market Price (11/6/2026): $1.03 | Market Cap: $27.1 MilSector: Industrials | Industry: Environmental & Facilities Services

Birchtech (BCHT)


Market Price (11/6/2026): $1.03
Market Cap: $27.1 Mil
Sector: Industrials
Industry: Environmental & Facilities Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -43%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -41%

Megatrend and thematic drivers
Megatrends include Advanced Materials, Sustainable Resource Management, and Circular Economy & Recycling. Themes include Bio-based Structural Composites, Show more.

Weak multi-year price returns
2Y Excs Rtn is -105%, 3Y Excs Rtn is -156%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -3.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -17%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.2%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -21%

Key risks
BCHT key risks include [1] its significant financial instability and going-concern doubts, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -43%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -41%
2 Megatrend and thematic drivers
Megatrends include Advanced Materials, Sustainable Resource Management, and Circular Economy & Recycling. Themes include Bio-based Structural Composites, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -105%, 3Y Excs Rtn is -156%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -3.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -17%
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.2%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -21%
8 Key risks
BCHT key risks include [1] its significant financial instability and going-concern doubts, Show more.

BCHT in ETFs

Weight = BCHT's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/5/2026

Birchtech (BCHT) stock has lost about 25% since 7/31/2026 because of the following key factors:

1. Significant Earnings Miss and Widened Net Loss in Fiscal Q2 2026. Birchtech reported fiscal Q2 2026 revenue of $3.8 million, missing analyst forecasts of $4.4 million. The company's net loss for the quarter widened to $3.0 million, or $0.11 per share, which was significantly higher than the estimated loss of $0.04 per share. This negative earnings report, released on August 13, 2026, contributed to a 6.8% decline in the stock price after-hours. (Birchtech's fiscal year ends on December 31, with fiscal Q2 2026 ending on June 30, 2026).

2. Operational Challenges and Margin Pressure in Fiscal Q2 2026. Despite a year-over-year revenue increase in fiscal Q2 2026, Birchtech's gross profit remained flat at $1.0 million, indicating margin pressure. Concurrently, the company experienced increased operating expenses, with Selling, General, and Administrative (SG&A) expenses rising by 23.5% and Research and Development (R&D) expenses increasing by 20% compared to the prior year. These operational factors contributed to the expanded net loss and likely dampened investor enthusiasm.

Show more
Updated on 11/5/2026

Birchtech (BCHT) stock has lost about 25% since 7/31/2026 because of the following key factors:

1. Significant Earnings Miss and Widened Net Loss in Fiscal Q2 2026. Birchtech reported fiscal Q2 2026 revenue of $3.8 million, missing analyst forecasts of $4.4 million. The company's net loss for the quarter widened to $3.0 million, or $0.11 per share, which was significantly higher than the estimated loss of $0.04 per share. This negative earnings report, released on August 13, 2026, contributed to a 6.8% decline in the stock price after-hours. (Birchtech's fiscal year ends on December 31, with fiscal Q2 2026 ending on June 30, 2026).

2. Operational Challenges and Margin Pressure in Fiscal Q2 2026. Despite a year-over-year revenue increase in fiscal Q2 2026, Birchtech's gross profit remained flat at $1.0 million, indicating margin pressure. Concurrently, the company experienced increased operating expenses, with Selling, General, and Administrative (SG&A) expenses rising by 23.5% and Research and Development (R&D) expenses increasing by 20% compared to the prior year. These operational factors contributed to the expanded net loss and likely dampened investor enthusiasm.

3. Unfulfilled Expectations for Key Growth Catalysts. Management had previously set expectations for "hard news" regarding water business offtake agreements during fiscal Q3 2026 and "material updates" on carbon rejuvenation by the end of September 2026. The absence of sufficiently impactful announcements on these significant growth initiatives during the specified period likely contributed to a lack of investor confidence and sustained downward pressure on the stock.

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Stock Movement Drivers

Fundamental Drivers

The -24.3% change in BCHT stock from 7/31/2026 to 11/5/2026 was primarily driven by a -17.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)731202611052026Change
Stock Price ($)1.361.03-24.3%
Change Contribution By: 
Total Revenues ($ Mil)19192.9%
P/S Multiple1.61.4-11.1%
Shares Outstanding (Mil)2226-17.2%
Cumulative Contribution-24.3%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/5/2026
ReturnCorrelation
BCHT-24.3% 
Market (SPY)-1.9%16.8%
Sector (XLI)-9.7%10.3%

Fundamental Drivers

The -36.0% change in BCHT stock from 4/30/2026 to 11/5/2026 was primarily driven by a -26.3% change in the company's Shares Outstanding (Mil).
(LTM values as of)430202611052026Change
Stock Price ($)1.611.03-36.0%
Change Contribution By: 
Total Revenues ($ Mil)18198.8%
P/S Multiple1.81.4-20.3%
Shares Outstanding (Mil)1926-26.3%
Cumulative Contribution-36.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/5/2026
ReturnCorrelation
BCHT-36.0% 
Market (SPY)2.3%23.3%
Sector (XLI)-6.7%14.7%

Fundamental Drivers

The -72.4% change in BCHT stock from 10/31/2025 to 11/5/2026 was primarily driven by a -66.0% change in the company's P/S Multiple.
(LTM values as of)1031202511052026Change
Stock Price ($)3.731.03-72.4%
Change Contribution By: 
Total Revenues ($ Mil)171911.0%
P/S Multiple4.21.4-66.0%
Shares Outstanding (Mil)1926-26.8%
Cumulative Contribution-72.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/5/2026
ReturnCorrelation
BCHT-72.4% 
Market (SPY)8.4%24.2%
Sector (XLI)5.7%14.6%

Fundamental Drivers

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Market Drivers

10/31/2023 to 11/5/2026
ReturnCorrelation
BCHT  
Market (SPY)81.3%17.5%
Sector (XLI)71.8%14.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BCHT Return----32%57%-74%-73%
Peers Return-2%-8%9%8%26%1%34%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
BCHT Win Rate---0%67%27% 
Peers Win Rate55%40%55%53%58%47% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
BCHT Max Drawdown-----31%-76% 
Peers Max Drawdown-30%-32%-32%-22%-32%-26% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: FTEK, NGVT, XYL, CLH, ECL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)

How Low Can It Go

EventBCHTS&P 500
2025 US Tariff Shock
  % Loss-14.5%-18.8%
  % Gain to Breakeven17.0%23.1%
  Time to Breakeven17 days79 days

Compare to FTEK, NGVT, XYL, CLH, ECL

In The Past

Birchtech's stock fell -14.5% during the 2025 US Tariff Shock. Such a loss loss requires a 17.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

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Compare to FTEK, NGVT, XYL, CLH, ECL

In The Past

Birchtech's stock fell -14.5% during the 2025 US Tariff Shock. Such a loss loss requires a 17.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Birchtech (BCHT)

Birchtech Corp. (BCHT) is an environmental services and technology company that provides solutions primarily to the power industry in the United States and internationally. The company focuses on addressing critical environmental challenges through its specialized technologies.

A core offering of Birchtech is its mercury capture solutions, specifically its Sorbent Enhancement Additive (SEA) technology. This technology is designed to provide comprehensive mercury control in coal-fired flue gas, targeting the removal of mercury from emissions. Additionally, Birchtech offers water purification solutions, with a particular emphasis on the removal of PFAS/PFOS contaminants from potable water sources.

Beyond its environmental remediation services, Birchtech also engages in the extraction and processing of rare earth elements, diversifying its operations within the resource sector. Overall, the company's business model revolves around developing and deploying advanced technologies to serve the power industry's environmental compliance needs and address broader clean water and resource challenges.

AI Analysis | Feedback

Think of Birchtech as:

  • A Donaldson Company specializing in advanced environmental purification for industrial air and water.
  • A smaller, emerging MP Materials in the rare earth elements space.

AI Analysis | Feedback

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  • Mercury Capture Solutions: Birchtech offers environmental solutions, specifically mercury capture technology, to the power industry.
  • Rare Earth Element Extraction and Processing: The company is involved in the extraction and subsequent processing of rare earth elements.
  • Water Purification Solutions: Birchtech provides solutions for purifying water, with a specific focus on removing PFAS/PFOS contaminants from potable water.
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AI Analysis | Feedback

Birchtech Corp. (BCHT) primarily sells its solutions and technologies to other companies and organizations (B2B/B2G).

While specific customer names are not provided in the company description, its major customers belong to the following categories of industries and organizations:

  • The Power Industry: Birchtech provides mercury capture solutions and Sorbent Enhancement Additive (SEA) technology, specifically for "coal-fired flue gas." This indicates their primary customers are power generation companies and utilities.
  • Industries Utilizing Rare Earth Elements: Given Birchtech's involvement in the "extraction and processing of rare earth elements," another category of customers would be companies that require or process these elements for various applications (e.g., electronics, magnets, defense).
  • Municipalities, Utilities, and Industrial Clients Requiring Water Purification: For its "water purification solutions that focus on PFAS/PFOS removal from potable water," customers would typically be municipal water treatment facilities, other utilities, or industrial clients managing their water quality.

AI Analysis | Feedback

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AI Analysis | Feedback

Richard MacPherson, President and CEO
Richard MacPherson has over 30 years of executive experience across various industries in North America. He founded the company, then known as Midwest Energy Emissions Corp., in 2008 to commercialize its Sorbent Enhancement Additive (SEA®) technologies, originally developed by the DOE and EERC. As President and CEO since 2016, he oversees the expansion, development, and commercialization of Birchtech's proprietary emissions control technologies within the fossil-fueled energy sector, as well as water purification solutions. Mr. MacPherson also successfully led the growth in enterprise value in previous senior management roles.

Fiona Fitzmaurice, Chief Financial Officer
Fiona Fitzmaurice is an ACCA chartered certified accountant with more than 15 years of experience in accounting and financial control for both private and publicly listed companies, including those on the TSX Venture Exchange. She has extensive experience as a CFO for exploration companies and has been involved in numerous private placements, prospectus filings, flow-through financings, and corporate audits. Ms. Fitzmaurice has served as CFO for several companies, including Exploits Discovery Corp., Digicann Ventures Inc., Provenance Gold Corp., Pedro Resources Ltd., and MacDonald Mines Exploration Ltd..

John Pavlish, Senior Vice President, Chief Technology Officer
John Pavlish possesses over 20 years of experience related to mercury and is recognized as an international expert in the field. His expertise includes research, technical consultation, and the development of mercury control technologies, particularly for coal combustion and gasification systems. Mr. Pavlish is an inventor of numerous patented mercury control technologies and has experience in their development and testing for commercial application. He also has power plant experience, having worked for Black & Veatch as a Unit Leader/System Engineer.

Dr. David Mazyck, Executive Director of Innovation and Commercialization
Dr. David Mazyck earned his Ph.D. in Environmental Engineering from Penn State University, specializing in activated carbon and reactivation technologies. He served as a Professor of Environmental Engineering Sciences at the University of Florida (UF) for over 20 years, holding various administrative positions. In his role at Birchtech, Dr. Mazyck oversees the company's technology development for water treatment and directs the commercialization activities for its water business.

Jim Trettel, Vice President - Operations
Jim Trettel has 25 years of experience in the dry bulk material-handling industry. His background includes project management and engineering responsibilities for numerous multimillion-dollar turnkey contracts. Mr. Trettel has also managed day-to-day operations for 14 years as the Vice President of a sales, systems, and engineering organization focused on bulk material handling. He has extensive field experience with systems operating across a wide range of industrial sectors, including coal-fired utilities.

AI Analysis | Feedback

Here are the key risks to Birchtech Corp.'s business:

  1. Financial Vulnerabilities and Liquidity Concerns

    Birchtech Corp. faces significant financial challenges, as indicated by various metrics. The company has a Piotroski F-Score of 3, suggesting poor business operations, and exhibits liquidity constraints with a current ratio of 0.55 and a quick ratio of 0.5. A negative debt-to-equity ratio of -0.24 further points to potential financial instability. Additionally, an Altman Z-Score of -6.49 places the company in a "distress zone," implying a high risk of bankruptcy within two years. Birchtech also struggles with profitability, reporting a net margin of -19.46% and an operating margin of -9.04% on revenues of $19.4 million. The company also has negative shareholders' equity and a highly volatile share price.

  2. Uncertainty and Delays in Patent Judgment Collection

    While Birchtech was awarded a substantial $78 million federal court judgment in a patent infringement case related to its mercury capture technology in December 2025, the collection of this amount is subject to uncertainty. The defendants have filed an appeal, which could significantly delay or potentially alter the ultimate receipt of these funds. This ongoing legal process and the appeal introduce considerable risk, especially given the judgment amount exceeds the company's current market capitalization and is critical to its financial health.

  3. Dependence on Environmental Regulations and Policy Changes

    A significant portion of Birchtech's business, particularly its mercury capture solutions for the power industry and its water purification solutions focusing on PFAS/PFOS removal, is directly dependent on environmental regulations and evolving environmental policies. Changes, or a lack of changes, in these regulations could materially impact the demand for Birchtech's technologies and services. For example, any loosening of emissions standards or slower adoption of new water quality standards could reduce the market for their offerings.

AI Analysis | Feedback

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The global transition away from coal-fired power generation presents a clear emerging threat to Birchtech's mercury capture solutions business. As countries and utilities increasingly pivot to renewable energy sources and phase out coal plants, the demand for technology designed for mercury control in coal-fired flue gas will diminish significantly over time.

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AI Analysis | Feedback

Birchtech (symbol: BCHT) operates in several addressable markets related to environmental services and technology.

  • Mercury Capture Solutions: The global mercury removal market was valued at approximately USD 1.785 billion in 2024 and is projected to reach USD 2.732 billion by 2035, growing at a Compound Annual Growth Rate (CAGR) of 3.95% between 2025 and 2035. Another report estimates the global mercury removal adsorbents market at USD 1.7 billion in 2026, projected to reach USD 2.7 billion by 2035 with a CAGR of around 5.4%. The power generation industry accounts for a significant portion of this market, holding a 45% share in the activated carbon mercury control market. North America currently holds a substantial share of the mercury removal market, with Asia-Pacific expected to see significant growth.
  • Rare Earth Elements Extraction and Processing: The global rare earth elements market was valued at USD 5.81 billion in 2024 and is expected to grow to USD 10.80 billion by 2030, with a CAGR of 10.72%. This market includes the exploration, extraction, processing, and commercialization of these elements. Another estimate placed the global rare earth elements market size at USD 3.95 billion in 2024, projected to reach USD 6.28 billion by 2030, with a CAGR of 8.6% from 2025 to 2030. Asia-Pacific was the dominant region in 2024, holding over 86% of the revenue share, with China being the largest producer and consumer. However, North America is actively exploring alternative mining options.
  • Water Purification Solutions (PFAS/PFOS Removal): The global PFAS treatment market size was estimated at USD 2,081.9 million in 2024 and is projected to reach USD 3,859.4 million by 2033, growing at a CAGR of 7.2% from 2025 to 2033. Similarly, the global PFAS filtration market size was valued at approximately USD 2.00 billion in 2024 and is projected to reach USD 3.97 billion by 2034, with a CAGR of roughly 7.10% between 2025 and 2034. The market is driven by increasing environmental regulations, public awareness of health risks, and the need for water and soil remediation. North America dominated the global PFAS treatment market in 2024 with a 40.4% market share and is expected to lead the global PFAS filtration market during the forecast period due to stringent regulations and advanced infrastructure. The point-of-exit PFAS treatment systems market, relevant for potable water, was valued at USD 517.47 million globally in 2024 and is projected to grow at a CAGR of 6.6% from 2025 to 2034.

AI Analysis | Feedback

Here are the expected drivers of future revenue growth for Birchtech (symbol: BCHT) over the next 2-3 years:

  1. Expansion of Clean Air Business (Mercury Capture Solutions): Birchtech anticipates significant growth in its mercury capture solutions business, driven by new customer acquisitions and an increasing number of licensing agreements for its Sorbent Enhancement Additive (SEA) technology. The company projects its air business revenue to reach at least $23 million in 2025, with an annual revenue run rate potential of $40 million by the end of 2026. This growth is further supported by the current administration's stance on coal-fired power generation and stringent environmental regulations for emissions control, which encourages utilities to adopt effective mercury reduction technologies. Birchtech expects to convert current technology adopters, including those currently infringing on its patents, into direct product supply customers and licensees, which is a key component of their growth strategy.
  2. Commercialization and Growth of Water Purification Solutions (PFAS/PFOS Removal): Birchtech has strategically expanded into the water treatment market, focusing on solutions for the removal of "forever chemicals" like PFAS and PFOS. This segment represents a significant long-term growth opportunity, with revenues expected to commence in the latter half of 2025 and contribute substantially in 2026 and beyond. The company has already secured initial purchase orders, including a $900,000 order in October 2025 from a large mid-Atlantic power utility for PFAS wastewater filtration. Ongoing pilot programs with municipal and institutional entities, such as public universities, are expected to translate into long-term carbon supply contracts starting in 2027. New EPA regulations for PFAS in drinking water are a major catalyst for the demand for these solutions.
  3. Intellectual Property Enforcement and Licensing Revenue: Birchtech continues to benefit from its robust intellectual property portfolio through active enforcement and licensing. The company has secured significant financial gains from patent infringement cases, including a $78 million federal court judgment and approximately $37 million in license fees and settlements since 2020. This ongoing strategy of pursuing litigation against infringing entities is expected to drive further revenue growth by converting these users into legitimate licensees or direct supply customers.
  4. Development and Commercialization of GAC Rejuvenation Facilities: Birchtech plans to begin construction of its first Granular Activated Carbon (GAC) rejuvenation facility in 2026, with an anticipated operational date by late 2027. This facility will enable the thermal rejuvenation of spent GAC, effectively destroying PFAS contaminants and allowing for the reuse of the carbon. This initiative is designed to establish a vertically integrated supply-and-service model, offering customers a lower-cost and more environmentally sustainable solution, thereby creating a new source of recurring revenue for Birchtech.

AI Analysis | Feedback

Share Repurchases

  • Birchtech Corp. authorized a share repurchase program in March 2025, allowing the company to purchase up to $5.0 million of its common stock. This program is anticipated to begin in the second half of 2025 and does not have an expiration date.
  • Prior to its name change, Midwest Energy Emissions Corp.'s CEO had plans to utilize proceeds from a legal settlement to exercise an option to buy back 7 million shares at $0.50 per share.

Share Issuance

  • In February 2026, Birchtech completed a public offering of 6.25 million shares of common stock at $2.40 per share, generating approximately $15 million in gross proceeds. Underwriters were granted a 30-day option to purchase up to an additional 937,500 shares.
  • The net proceeds from the February 2026 public offering are intended for continuing operating expenses, working capital, and general corporate purposes.
  • Birchtech executed a 1-for-5 reverse stock split in December 2025, aimed at enhancing the stock's marketability and institutional positioning.

Inbound Investments

  • Midwest Energy Emissions Corp. (now Birchtech) secured a $57 million judgment in March 2024 from a patent infringement lawsuit, with additional settlements from other parties estimated at $30-40 million.
  • A federal court entered a $78 million judgment in a patent case in December 2025. The company has also received approximately $37 million in license fees and settlements since 2020.

Capital Expenditures

  • In the last 12 months, Birchtech's capital expenditures were approximately $130,803.
  • Annual capital expenditures were -$809.4K in 2024, $0 in 2023, -$10.7K in 2022, and -$11.0K in 2021.
  • Birchtech plans to initiate the construction of its first Granular Activated Carbon (GAC) rejuvenation facility in 2026, with an expected operational date in late 2027, focusing on expanding its water treatment business.

Better Bets vs. Birchtech (BCHT)

Peer Outperformance in Environmental & Facilities Services

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Share of Environmental & Facilities Services constituents that BCHT has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
22%
of 32 industry peers · -71.8% return
3Y
—
insufficient peer history
5Y
—
insufficient peer history
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Median price return by industry across the Industrials sector, ranked by 5Y. Environmental & Facilities Services is BCHT's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Marine Transportation 5 25.1%30.2%102.9% MATX 155% · KEX 103%
Construction Machinery & Heavy Transportation Equipment 13 6.3%55.5%95.0% ALSN 255% · WAB 204% · CAT 192%
Construction & Engineering 29 -21.3%79.9%94.8% FIX 895% · STRL 799% · AGX 526%
Aerospace & Defense 54 -12.6%55.7%49.5% ATI 849% · FTAI 756% · HWM 509%
Trading Companies & Distributors 19 5.6%30.7%33.8% DXPE 276% · AIT 184% · URI 177%
Industrial Machinery & Supplies & Components 71 0.3%46.1%29.7% CRS 797% · MLI 298% · SYM 249%
Rail Transportation 7 34.9%53.7%27.8% CSX 54% · UNP 40% · NSC 28%
Diversified Support Services 33 14.8%36.8%21.3% CXW 195% · OPLN 143% · CTAS 115%
Building Products 34 -6.6%9.3%10.6% MOD 714% · GFF 345% · TT 126%
Cargo Ground Transportation 16 27.9%14.6%4.8% XPO 269% · R 250% · ARCB 25%
Industrial Conglomerates 17 14.8%-1.6%-1.3% CSW 103% · CSL 72% · DD 65%
Office Services & Supplies 10 20.8%22.5%-2.6% PBI 158% · TILE 140% · HNI 40%
Electrical Components & Equipment 39 -14.2%56.2%-12.1% POWL 1360% · VRT 543% · BE 424%
Data Processing & Outsourced Services 6 -11.8%5.0%-12.7% EXLS 59% · BR 22% · G -12%
Research & Consulting Services 13 4.9%-15.5%-22.6% HURN 227% · FCN 36% · BAH 14%
Agricultural & Farm Machinery 16 7.2%-7.4%-27.4% BLBD 171% · DE 99% · TTC 15%
Security & Alarm Services 9 -51.2%10.7%-28.0% BCO 65%
Environmental & Facilities Services ← 29 -31.2%25.5%-28.1% GEO 163% · CLH 162% · RSG 100%
Passenger Airlines 11 2.6%64.1%-34.8% LTM 3100% · UAL 110% · DAL 100%
Air Freight & Logistics 12 -28.8%-7.3%-39.1% FDX 80% · EXPD 60% · CHRW 54%
Human Resource & Employment Services 22 19.2%-6.0%-42.4% ADP 50% · FA 22% · PAYX 13%
Passenger Ground Transportation 3 -14.1%42.9%-57.4% UBER 46% · CAR -57% · LYFT -67%
Airport Services 4 -49.1%-62.8%-86.2% JOBY -47%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BCHTFTEKNGVTXYLCLHECLMedian
NameBirchtechFuel TechIngevity Xylem Clean Ha.Ecolab  
Mkt Price1.031.3263.7799.00277.69302.0081.39
Mkt Cap0.00.02.223.014.684.78.4
Rev LTM19281,1609,0596,56417,3723,862
Op Inc LTM-3-52841,4558643,151574
FCF LTM-4-61559214961,795325
FCF 3Y Avg3-21268914021,784264
CFO LTM-4-52111,2721,0203,029615
CFO 3Y Avg3-11981,2298632,853531

Growth & Margins

BCHTFTEKNGVTXYLCLHECLMedian
NameBirchtechFuel TechIngevity Xylem Clean Ha.Ecolab  
Rev Chg LTM11.0%15.3%-1.4%1.9%10.1%9.3%9.7%
Rev Chg 3Y Avg-1.2%1.3%-10.0%10.7%7.1%4.9%3.1%
Rev Chg Q16.5%15.8%-5.2%-3.0%20.7%12.7%14.3%
QoQ Delta Rev Chg LTM2.9%4.3%-1.5%-0.7%5.1%3.1%3.0%
Op Inc Chg LTM12.2%-16.9%0.6%18.1%32.6%12.9%12.5%
Op Inc Chg 3Y Avg-4,297.6%-35.6%-0.1%28.0%14.4%17.1%7.2%
Op Mgn LTM-16.8%-17.9%24.5%16.1%13.2%18.1%14.6%
Op Mgn 3Y Avg-39.0%-16.2%22.8%14.0%11.9%17.3%13.0%
QoQ Delta Op Mgn LTM-1.9%-1.2%1.8%0.5%1.3%0.1%0.3%
CFO/Rev LTM-19.3%-17.5%18.2%14.0%15.5%17.4%14.8%
CFO/Rev 3Y Avg18.8%-3.7%17.4%14.0%14.1%17.5%15.7%
FCF/Rev LTM-19.4%-20.8%13.3%10.2%7.6%10.3%8.9%
FCF/Rev 3Y Avg17.3%-5.9%10.9%10.1%6.5%11.0%10.5%

Valuation

BCHTFTEKNGVTXYLCLHECLMedian
NameBirchtechFuel TechIngevity Xylem Clean Ha.Ecolab  
Mkt Cap0.00.02.223.014.684.78.4
P/S1.41.51.92.52.24.92.1
P/Op Inc-8.4-8.17.815.816.926.911.8
P/EBIT-6.6-8.120.816.716.628.316.6
P/E-6.5-10.241.021.327.740.724.5
P/CFO-7.3-8.310.518.114.428.012.4
Total Yield-15.4%-9.8%2.4%6.4%3.6%3.4%2.9%
Dividend Yield0.0%0.0%0.0%1.7%0.0%1.0%0.0%
FCF Yield 3Y Avg--5.0%6.7%3.0%2.9%2.4%2.9%
D/E0.00.00.60.10.20.20.1
Net D/E-0.4-0.40.50.10.20.20.1

Returns

BCHTFTEKNGVTXYLCLHECLMedian
NameBirchtechFuel TechIngevity Xylem Clean Ha.Ecolab  
1M Rtn-30.9%-20.7%-12.4%-5.3%-12.7%7.5%-12.5%
3M Rtn-25.9%-3.3%-17.5%-17.7%-9.7%6.8%-13.6%
6M Rtn-27.0%-13.4%-13.9%-13.7%-1.7%18.4%-13.6%
12M Rtn-71.8%-39.8%17.1%-33.4%34.2%17.9%-8.1%
3Y Rtn-72.5%31.2%59.2%6.9%79.9%78.5%45.2%
1M Excs Rtn-27.5%-19.2%-8.6%-1.3%-10.5%10.0%-9.6%
3M Excs Rtn-25.0%-4.5%-17.2%-16.5%-9.0%7.1%-12.8%
6M Excs Rtn-31.7%-18.2%-18.7%-18.5%-6.4%13.6%-18.3%
12M Excs Rtn-85.9%-60.9%7.7%-46.3%19.5%4.7%-20.8%
3Y Excs Rtn-155.9%-53.1%-25.1%-72.6%-2.6%3.4%-39.1%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Product revenue1414172111
License revenue33012
Equipment revenue00   
Demonstrations & Services revenue00000
Equipment sales and rental revenue  000
Total1817182213


Price Behavior

Price Behavior
Market Price$1.03 
Market Cap ($ Bil)0.0 
First Trading Date02/23/2007 
Distance from 52W High-78.3% 
   50 Days200 Days
DMA Price$1.35$1.85
DMA Trenddowndown
Distance from DMA-23.6%-44.3%
 3M1YR
Volatility72.6%78.7%
Downside Capture201.44237.71
Upside Capture67.7358.76
Correlation (S&P 500)9.1%22.7%
BCHT Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta2.441.010.581.451.43-0.12
Up Beta11.072.990.761.161.25-0.15
Down Beta2.861.750.471.751.590.37
Up Capture-1%34%12%90%52%8%
Bmk +ve Days12182862130427
Stock +ve Days7162651100205
Down Capture292%79%122%170%159%97%
Bmk -ve Days10253664121325
Stock -ve Days11223264130273

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BCHT
BCHT-74.0%79.1%-1.39-
Sector ETF (XLI)7.4%17.8%0.2414.0%
Equity (SPY)9.5%13.6%0.4123.8%
Gold (GLD)3.6%28.7%0.11-1.1%
Commodities (DBC)37.7%21.2%1.400.5%
Real Estate (VNQ)12.0%14.2%0.55-10.1%
Bitcoin (BTCUSD)-20.8%43.3%-0.427.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BCHT
BCHT-23.5%69.5%-0.67-
Sector ETF (XLI)10.8%17.7%0.4514.5%
Equity (SPY)11.3%17.3%0.4817.5%
Gold (GLD)17.5%19.1%0.74-2.3%
Commodities (DBC)8.0%19.6%0.292.5%
Real Estate (VNQ)1.2%18.9%-0.05-1.9%
Bitcoin (BTCUSD)5.9%51.5%0.296.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BCHT
BCHT-12.5%69.5%-0.67-
Sector ETF (XLI)12.9%20.1%0.5614.5%
Equity (SPY)14.9%18.0%0.7017.5%
Gold (GLD)12.0%16.5%0.59-2.3%
Commodities (DBC)7.6%18.1%0.332.5%
Real Estate (VNQ)5.7%20.7%0.23-1.9%
Bitcoin (BTCUSD)61.3%66.2%1.016.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 930202679.5%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity26.3 Mil
Short % of Basic Shares0.2%

Earnings Returns History

Updated 7/28/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/4/2025-3.2%4.3%6.0%
SUMMARY STATS   
# Positive011
# Negative100
Median Positive 4.3%6.0%
Median Negative-3.2%  
Max Positive 4.3%6.0%
Max Negative-3.2%  
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/4/2025-3.2%4.3%6.0%
SUMMARY STATS   
# Positive011
# Negative100
Median Positive 4.3%6.0%
Median Negative-3.2%  
Max Positive 4.3%6.0%
Max Negative-3.2%  

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/13/202610-Q
12/31/202503/31/202610-K
09/30/202511/13/202510-Q
06/30/202508/14/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
09/30/202411/14/202410-Q
06/30/202408/12/202410-Q
03/31/202405/15/202410-Q
12/31/202304/16/202410-K
09/30/202311/20/202310-Q
06/30/202308/16/202310-Q
03/31/202306/06/202310-Q
12/31/202205/15/202310-K
09/30/202211/14/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/13/202610-Q
12/31/202503/31/202610-K
09/30/202511/13/202510-Q
06/30/202508/14/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
09/30/202411/14/202410-Q
06/30/202408/12/202410-Q
03/31/202405/15/202410-Q
12/31/202304/16/202410-K
09/30/202311/20/202310-Q
06/30/202308/16/202310-Q
03/31/202306/06/202310-Q
12/31/202205/15/202310-K
09/30/202211/14/202210-Q
06/30/202208/15/202210-Q
03/31/202205/18/202210-Q
12/31/202104/05/202210-K
09/30/202111/15/202110-Q
06/30/202108/16/202110-Q
03/31/202105/17/202110-Q
12/31/202004/05/202110-K
09/30/202011/23/202010-Q
06/30/202008/19/202010-Q
03/31/202007/06/202010-Q
12/31/201905/14/202010-K
09/30/201911/14/201910-Q

Insider Activity

Updated 4/26/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1MacPherson, RichardPresident and CEODirectBuy30220262.40312,500750,0007,092,228Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1MacPherson, RichardPresident and CEODirectBuy30220262.40312,500750,0007,092,228Form
Core Cache Last Updated: 11/5/2026