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Pure Cycle(NASDAQ) PCYO

Current Price$10.66
Market Cap$255.43MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (1989)+324%
5 Year-30%
1 Year+5%
1 Month-4%
Pure Cycle last closing stock price
MetricPriceDate
Last closeUSD 10.602026-07-23
Pure Cycle stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week-2.21%USD 10.842026-07-16
1 month-4.07%USD 11.052026-06-23
3 month-7.83%USD 11.502026-04-24
Year to date-3.55%USD 10.992025-12-31
1 year+4.74%USD 10.122025-07-23
3 year-17.7%USD 12.882023-07-24
5 year-30.35%USD 15.222021-07-23
Since inception+324%USD 2.501989-05-09

Pure Cycle Financials at a Glance

Market Cap

$255.43MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$33.73M

Net Income (TTM)

$14.73M

EPS (TTM)

$0.61

P/E Ratio

17.39

Dividend

$0.00

Beta (Volatility)

0.73 (Low)

Price

$10.66

Volume

678

Open

$10.61

Previous Close

$10.66

Daily Range

$10.61 - $10.72

52-Week Range

$9.65 - $12.44

Estimated Earnings Date

Jul 8, 2026

PCYO News

No articles available.

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About Pure Cycle

Pure Cycle Corporation provides water and sewer services to Colorado families. It builds neighborhoods and rents houses in the Denver area. The company manages water rights to support new home construction.

Water, Land, and Rental Homes

  • Water and Wastewater: Wholesale water production, treatment, and distribution for local governments; generated $10.1 million in revenue for the nine months ended May 31, 2026.
  • Land Development: Planning and building horizontal infrastructure for the Sky Ranch community; generated $11.9 million in revenue for the nine months ended May 31, 2026.
  • Single-Family Rentals: Construction and leasing of residential homes at Sky Ranch; generated $512,000 in revenue during the nine months ended May 31, 2026.

Expanding the Denver Footprint

  • Expanded the single-family rental portfolio to 38 completed units as of May 31, 2026.
  • Advanced development of Phase 2 at Sky Ranch into five sub-phases to deliver ready-to-build lots to homebuilders.
  • Invested $5.8 million in water and wastewater infrastructure during the nine months ended May 31, 2026.
  • Funded participation in the Water Infrastructure Supply Efficiency partnership to secure transmission pipeline capacity and water supplies.

Strategic Water and Land Assets

Pure Cycle integrates water utility services with land development to create a closed-loop business model. The company controls over 30,000 acre-feet of water rights in the water-scarce Denver metropolitan region.

Recent Financial Performance

  • Total revenue rose 51% to $22.5 million during the nine months ended May 31, 2026.
  • Net income reached $8.6 million for the nine months ended May 31, 2026, up 23% year over year.
  • Water and wastewater tap fee revenue grew to $5.6 million during the nine months ended May 31, 2026.
  • The company held $8.4 million in cash and cash equivalents with a working capital balance of $5.4 million as of May 31, 2026.

The Company Today

Pure Cycle has transformed from a water rights holder into a diversified utility and real estate developer. Its integrated model allows it to capture value from land sales, water taps, and monthly rental income.

AI Generated • Jul 9, 2026

Industry

Water Utilities

Sector

Utilities

Employees

44

CEO

Mark W. Harding, MBA

Website

www.purecyclewater.com

Headquarters

Watkins, CO 80137, US

PCYO Financials

Key Financial Metrics (TTM)

Gross Margin

57.76%

Operating Margin

37.67%

Net Income Margin

43.66%

Return on Equity

9.98%

Return on Capital

5.13%

Return on Assets

8.37%

Earnings Yield

5.75%

Dividend Yield

0.00%

Payout Ratio

0.00%

Stock Overview

Market Cap

$255.43MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

24.10M

Volume

678

Avg. Volume

59.10K

Financials (TTM)

Gross Profit

$19.48M

Operating Income

$12.70M

EBITDA

$19.93M

Operating Cash Flow

$7.65M

Capital Expenditure

-$2.84M

Free Cash Flow

$4.81M

Cash & ST Invst.

$8.44M

Total Debt

$14.13M

Pure Cycle Performance Analysis

Pure Cycle annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-08-31USD 23,003,00034.3%
20232023-08-31USD 14,586,000-36.6%
20242024-08-31USD 28,747,00097.1%
20252025-08-31USD 26,087,000-9.3%
Pure Cycle sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q42025-08-31117.9%
Q12025-11-30-18.4%
Q22026-02-28-43.4%
Q32026-05-3159.1%
Pure Cycle annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-08-31USD 0.40-52.3%
20232023-08-31USD 0.19-51.1%
20242024-08-31USD 0.48146.8%
20252025-08-31USD 0.5412.8%
Pure Cycle sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q42025-08-31167.7%
Q12025-11-30-24.0%
Q22026-02-28-73.7%
Q32026-05-31140.0%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q3 2026YOY CHG

Revenue

$8.22M

+60.0%

Gross Profit

$4.29M

+31.6%

Gross Margin

52.12%

N/A

Market Cap

$255.43MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$5.81M

N/A

Employees

44

N/A

Net Income

$2.95M

+30.7%

EBITDA

$2.11M

-41.7%

Quarterly Fundamentals

Name
Q3 2026YOY CHG

Total Cash

$8.44M

-41.4%

Total Debt

$14.13M

+105.5%

Accounts Receivable

$2.49M

+26.6%

Inventory

$0.00

-100.0%

Long Term Debt

$12.67M

+94.4%

Short Term Debt

$1.46M

+308.4%

Return on Assets

8.37%

N/A

Return on Invested Capital

7.66%

N/A

Free Cash Flow

$3.40M

+322.9%

Operating Cash Flow

$3.47M

+910.5%

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Questions About PCYO

What is the current price of Pure Cycle?

Pure Cycle is trading at $10.66 per share.

What is the 52-week range for Pure Cycle?

Over the past 52 weeks, Pure Cycle has traded between $9.65 and $12.44.

How much debt does Pure Cycle have?

As of the most recent reporting period, Pure Cycle reported total debt of $14.13M.

How much cash does Pure Cycle have on hand?

Pure Cycle reported $8.44M in cash and cash equivalents in its most recent financial results.

What is Pure Cycle’s dividend yield?

Pure Cycle does not currently have a dividend yield.

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