PCTPureCycle Technologies, Inc.
Plastic Materials, Synth Resins & Nonvulcan Elastomers
- Revenue
- $8M
- Operating margin
- -2171.6%
- EBITDA
- −$152M
- 34% YoY
- Market cap
- $675M
- Employees
- 174
- $48K revenue each
- Net debt / EBITDA
- —
- $84M net debt
- AI in 10-K
- 0.5
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes179% of revenueOver 10% of revenue
- Payouts exceed cash flowNo-3% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo86% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$48K · 30th pctBottom quartile of its SIC industry
- Quiet on AIYes0.5 per 10K words · 21st pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$675M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$99K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $0 | $8M | |
| Operating income | — | — | −$114M | −$145M | −$181M | 25% |
| Net income | −$78M | −$85M | −$102M | −$289M | −$183M | 37% |
| Operating cash flow | −$55M | −$65M | −$95M | −$145M | −$143M | 1.4% |
| Capex | $137M | $287M | $154M | $56M | $41M | 27% |
| Stock-based comp | $23M | $11M | $12M | $12M | $15M | 28% |
| Buybacks | $2M | $2M | $1M | $2M | $5M | 205% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jun 12, 2026 | SYLEBRA CAPITAL LLC | SCHEDULE 13D/A | 58.2% | Passive |
| Jul 8, 2025 | LONGVIEW ASSET MANAGEMENT, LLC | SCHEDULE 13D | 6.2% | Passive |
| Jun 24, 2025 | SYLEBRA CAPITAL LLC | SCHEDULE 13D/A | 58.4% | Passive |
| Sep 17, 2024 | SYLEBRA CAPITAL LLC | SC 13D/A | 39.1% | Passive |
| Aug 29, 2023 | Sylebra Capital Ltd | SC 13D/A | 17.8% | Passive |
| Mar 24, 2022 | Sylebra Capital Ltd | SC 13D | 3.7% | Passive |
Insider trading
- Open-market buys, 12 mo
- $99K · 2
- Open-market sells, 12 mo
- $0 · 0
- Net
- $99K
Pay vs performance
No pay-versus-performance disclosure yet.