GoAI
Get started
Pure Cycle Corporation logo

Pure Cycle Corporation

PCYO

NASDAQUtilitiesRegulated Water

Open in GoAI

Previous close

$11.32

−$0.37 · -3.17%

Aug 21, 4:00 PM ET

PCYO company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

75

Undervalued

Momentum

45

Neutral

Sentiment

65

Bullish

Risk resilience

58

Elevated Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

Pure Cycle Corporation provides water and wastewater services in the United States. It operates in three segments: Water and Wastewater Resource Development, Land Development, and Single-Family Rental. The company engages in the wholesale water production, storage, treatment, and distribution systems; wastewater collection and treatment systems; development of land into master planned communities; and construction and leasing of single-family homes. It serves domestic, commercial, and industrial customers. Pure Cycle Corporation was incorporated in 1976 and is headquartered in Watkins, Colorado.

Industry
Regulated Water
Sector
Utilities
Headquarters
US
CEO
Mark W. Harding
Listed since
Apr 13, 1994
Employees
44

Market position

Day range

Current $11.32

52-week range

Current $11.32

Open
$11.605
Previous close
$11.69
Volume
108.11K
1.72× average
Average volume
62.9K
Average daily volume
Market cap
272.78M USD
Beta
1.23
Market reference 1
50-day average
$10.8932
+3.92% above average
200-day average
$10.9634
+3.25% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
228.04M USD
P/E (TTM)
18.56×
P/B (TTM)
1.8×
P/S (TTM)
8.09×
EV / EBITDA
11.29×
Earnings yield
5.39%
Free cash flow yield
1.52%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
57.76%
Operating margin
37.67%
Net margin
43.66%
Return on equity
9.18%
Return on assets
8.08%
Return on invested capital
3.81%

Financial health

Debt / equity
0.09×
Current ratio
2.72×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends128%86%45%4%Gross margin, FY2021: 62.62%Gross margin, FY2022: 71.18%Gross margin, FY2023: 55.12%Gross margin, FY2024: 68.73%Gross margin, FY2025: 61.45%Operating margin, FY2021: 30.77%Operating margin, FY2022: 43.89%Operating margin, FY2023: 14.21%Operating margin, FY2024: 42.59%Operating margin, FY2025: 29.40%Net margin, FY2021: 117.43%Net margin, FY2022: 41.82%Net margin, FY2023: 32.22%Net margin, FY2024: 40.40%Net margin, FY2025: 50.25%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 62.62%. Gross margin FY2022 71.18%. Gross margin FY2023 55.12%. Gross margin FY2024 68.73%. Gross margin FY2025 61.45%. Operating margin FY2021 30.77%. Operating margin FY2022 43.89%. Operating margin FY2023 14.21%. Operating margin FY2024 42.59%. Operating margin FY2025 29.40%. Net margin FY2021 117.43%. Net margin FY2022 41.82%. Net margin FY2023 32.22%. Net margin FY2024 40.40%. Net margin FY2025 50.25%.

Income trends

Revenue

26.09M USD-9.25%

Operating income

7.67M USD-37.35%

Net income

13.11M USD+12.89%
Income trends across reported periods31.41M USD20.74M USD10.07M USD−595.5K USDRevenue, FY2021: 17.13M USDRevenue, FY2022: 23M USDRevenue, FY2023: 14.59M USDRevenue, FY2024: 28.75M USDRevenue, FY2025: 26.09M USDOperating income, FY2021: 5.27M USDOperating income, FY2022: 10.1M USDOperating income, FY2023: 2.07M USDOperating income, FY2024: 12.24M USDOperating income, FY2025: 7.67M USDNet income, FY2021: 20.11M USDNet income, FY2022: 9.62M USDNet income, FY2023: 4.7M USDNet income, FY2024: 11.61M USDNet income, FY2025: 13.11M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 17.13M USD. Revenue FY2022 23M USD. Revenue FY2023 14.59M USD. Revenue FY2024 28.75M USD. Revenue FY2025 26.09M USD. Operating income FY2021 5.27M USD. Operating income FY2022 10.1M USD. Operating income FY2023 2.07M USD. Operating income FY2024 12.24M USD. Operating income FY2025 7.67M USD. Net income FY2021 20.11M USD. Net income FY2022 9.62M USD. Net income FY2023 4.7M USD. Net income FY2024 11.61M USD. Net income FY2025 13.11M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue26.09M USD28.75M USD14.59M USD23M USD17.13M USD
Cost of goods sold10.06M USD8.99M USD6.55M USD6.63M USD6.4M USD
Gross profit16.03M USD19.76M USD8.04M USD16.37M USD10.72M USD
Selling, general, and administrative7.77M USD6.92M USD5.47M USD5.89M USD5.14M USD
Operating expenses8.36M USD7.52M USD5.97M USD6.28M USD5.45M USD
Interest income3.27M USD2.84M USD2.5M USD1.97M USD2.96M USD
Interest expense426K USD439K USD206K USD90K USD—
Depreciation and amortization2.3M USD2.1M USD2.16M USD2.13M USD1.77M USD
Operating income7.67M USD12.24M USD2.07M USD10.1M USD5.27M USD
Net income13.11M USD11.61M USD4.7M USD9.62M USD20.11M USD

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
0.12

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.310.220.120.03Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 13, 2024: actual 0.27, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Jan 8, 2025: actual 0.16, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Apr 9, 2025: actual 0.03, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Jul 9, 2025: actual 0.09, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 12, 2025: actual 0.25, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Jan 7, 2026: actual 0.19, estimate —, surprise —, Comparison unavailable. Q2 2026, reported Apr 8, 2026: actual 0.05, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Jul 8, 2026: actual 0.12, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates30.73M21.62M12.51M3.4MQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 13, 2024: actual 28.75M USD, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Jan 8, 2025: actual 5.75M USD, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Apr 9, 2025: actual 4M USD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Jul 9, 2025: actual 5.14M USD, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 12, 2025: actual 11.2M USD, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Jan 7, 2026: actual 9.14M USD, estimate —, surprise —, Comparison unavailable. Q2 2026, reported Apr 8, 2026: actual 5.17M USD, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Jul 8, 2026: actual 8.22M USD, estimate —, surprise —, Comparison unavailable.

PCYO peers

Constellation Energy Corporation logo

CEG

Constellation Energy Corporation

$272.88

-0.01%

American Electric Power Company, Inc. logo

AEP

American Electric Power Company, Inc.

$120.94

-3.79%

Xcel Energy Inc. logo

XEL

Xcel Energy Inc.

$76.30

-3.06%

Exelon Corporation logo

EXC

Exelon Corporation

$43.78

-2.84%

Evergy, Inc. logo

EVRG

Evergy, Inc.

$80.92

-2.69%

Alliant Energy Corporation logo

LNT

Alliant Energy Corporation

$67.86

-2.30%

ETFs holding PCYO

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
6.61M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
5.57M
Weight
0.01%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
2.92M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
2.21M
Weight
0.02%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
1.17M
Weight
0.01%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$121.25+0.74%
U.S. Micro Cap Portfolio ETF logoU.S. Micro Cap Portfolio ETFDFMC
Market value
1.04M
Weight
0.01%
AUM
8.06B USD
Expense ratio
0.43%
Price / 1D
$60.95+0.73%
Dimensional - US Small Cap ETF logoDimensional - US Small Cap ETFDFAS
Market value
931.62K
Weight
0.01%
AUM
15.92B USD
Expense ratio
0.26%
Price / 1D
$83.02+0.73%
iShares Micro-Cap ETF logoiShares Micro-Cap ETFIWC
Market value
804.46K
Weight
0.05%
AUM
1.53B USD
Expense ratio
0.60%
Price / 1D
$198.39+1.10%

Continue in GoAI

Research PCYO

research.disclaimer