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Stocks · Utilities · Water Supply

PURE CYCLE CORP

PCYO Clue Score60
United States Fiscal year ends August CIK 0000276720
$11.11 +1.00% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $11.11 −29.33% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue1.2Operating income−2.1Net income−1.7Fiscal year 2018Revenue7.0 +466.8%Operating income−0.3Net income0.4Fiscal year 2019Revenue20.4 +192.6%Operating income3.0Net income4.8 +1,060.2%EPS, diluted0.20Fiscal year 2020Revenue25.9 +27.0%Operating income1.5Net income6.8 +40.3%EPS, diluted0.28 +40.0%Fiscal year 2021Revenue17.1 −33.8%Operating income5.3Net income20.1 +197.9%EPS, diluted0.83 +196.4%Fiscal year 2022Revenue23.0 +34.3%Operating income10.1Net income9.6 −52.2%EPS, diluted0.40 −51.8%Fiscal year 2023Revenue14.6 −36.6%Operating income2.1Net income4.7 −51.1%EPS, diluted0.19 −52.5%Fiscal year 2024Revenue28.7 +97.1%Operating income12.2Net income11.6 +147.1%EPS, diluted0.48 +152.6%Fiscal year 2025Revenue26.1 −9.3%Operating income7.7Net income13.1 +12.9%EPS, diluted0.54 +12.5%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1.2 7.0 20.4 25.9 17.1 23.0 14.6 28.7 26.1
Growth +466.8% +192.6% +27.0% −33.8% +34.3% −36.6% +97.1% −9.3%
Operating income −2.1 −0.3 3.0 1.5 5.3 10.1 2.1 12.2 7.7
Net income −1.7 0.4 4.8 6.8 20.1 9.6 4.7 11.6 13.1
Growth +1,060.2% +40.3% +197.9% −52.2% −51.1% +147.1% +12.9%
EPS, diluted n/a n/a 0.20 0.28 0.83 0.40 0.19 0.48 0.54
Growth +40.0% +196.4% −51.8% −52.5% +152.6% +12.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin34.6%Operating margin−173.6%Net margin−139.3%Free cash flow margin−93.5%Fiscal year 2018Gross margin40.2%Operating margin−4.4%Net margin6.0%Free cash flow margin−6.4%Fiscal year 2019Gross margin31.5%Operating margin14.7%Net margin23.6%Fiscal year 2020Gross margin29.2%Operating margin5.9%Net margin26.1%Fiscal year 2021Gross margin62.6%Operating margin30.8%Net margin117.4%Fiscal year 2022Gross margin71.2%Operating margin43.9%Net margin41.8%Fiscal year 2023Gross margin55.1%Operating margin14.2%Net margin32.2%Fiscal year 2024Gross margin68.7%Operating margin42.6%Net margin40.4%Fiscal year 2025Gross margin61.4%Operating margin29.4%Net margin50.3%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 34.6% 40.2% 31.5% 29.2% 62.6% 71.2% 55.1% 68.7% 61.4%
Operating margin −173.6% −4.4% 14.7% 5.9% 30.8% 43.9% 14.2% 42.6% 29.4%
Net margin −139.3% 6.0% 23.6% 26.1% 117.4% 41.8% 32.2% 40.4% 50.3%
Free cash flow margin −93.5% −6.4% n/a n/a n/a n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−1.1Capital expenditure−0.1Free cash flow−1.1Fiscal year 2018Operating cash flow0.0Capital expenditure−0.4Free cash flow−0.4Fiscal year 2019Operating cash flow3.5Fiscal year 2020Operating cash flow20.7Fiscal year 2021Operating cash flow3.5Fiscal year 2022Operating cash flow17.5Fiscal year 2023Operating cash flow−2.3Fiscal year 2024Operating cash flow2.3Buybacks−0.6Fiscal year 2025Operating cash flow13.2Buybacks−0.4
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −1.1 0.0 3.5 20.7 3.5 17.5 −2.3 2.3 13.2
Capital expenditure −0.1 −0.4 n/a n/a n/a n/a n/a n/a n/a
Free cash flow −1.1 −0.4 n/a n/a n/a n/a n/a n/a n/a
Growth
Buybacks n/a n/a n/a n/a n/a n/a n/a −0.6 −0.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash5.6Shareholders’ equity67.5Fiscal year 2018Cash11.6Shareholders’ equity69.5Fiscal year 2019Cash4.5Shareholders’ equity74.7Fiscal year 2020Cash21.8Shareholders’ equity82.0Fiscal year 2021Cash20.1Shareholders’ equity102.7Fiscal year 2022Cash34.9Shareholders’ equity113.0Fiscal year 2023Cash26.0Shareholders’ equity118.2Fiscal year 2024Cash22.1Total debt6.9Net cash (debt)15.2Shareholders’ equity129.7Debt to equity0.05Fiscal year 2025Cash21.9Total debt6.8Net cash (debt)15.1Shareholders’ equity142.7Debt to equity0.05
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 5.6 11.6 4.5 21.8 20.1 34.9 26.0 22.1 21.9
Total debt n/a n/a n/a n/a n/a n/a n/a 6.9 6.8
Net cash (debt) n/a n/a n/a n/a n/a n/a n/a 15.2 15.1
Shareholders’ equity 67.5 69.5 74.7 82.0 102.7 113.0 118.2 129.7 142.7
Debt to equity n/a n/a n/a n/a n/a n/a n/a 0.05 0.05

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending August, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Aug 2017 FY2018 31 Aug 2018 FY2019 31 Aug 2019 FY2020 31 Aug 2020 FY2021 31 Aug 2021 FY2022 31 Aug 2022 FY2023 31 Aug 2023 FY2024 31 Aug 2024 FY2025 31 Aug 2025
Revenue and profit
1.2 7.0 20.4 25.9 17.1 23.0 14.6 28.7 26.1
Growth +466.8% +192.6% +27.0% −33.8% +34.3% −36.6% +97.1% −9.3%
0.8 4.2 13.9 18.3 6.4 6.6 6.5 9.0 10.1
0.4 2.8 6.4 7.5 10.7 16.4 8.0 19.8 16.0
Growth +559.1% +129.4% +17.5% +42.1% +52.7% −50.9% +145.8% −18.9%
2.2 2.9 3.1 4.3 5.1 5.9 5.5 6.9 7.8
−2.1 −0.3 3.0 1.5 5.3 10.1 2.1 12.2 7.7
Growth −49.5% +248.2% +91.6% −79.5% +490.8% −37.3%
−1.7 0.1 3.5 8.9 26.6 12.7 6.2 15.6 17.5
0.0 −0.3 −1.3 2.2 6.5 3.1 1.5 4.0 4.4
−1.7 0.4 4.8 6.8 20.1 9.6 4.7 11.6 13.1
Growth +1,060.2% +40.3% +197.9% −52.2% −51.1% +147.1% +12.9%
Per share
n/a n/a 0.20 0.28 0.84 0.40 0.20 0.48 0.54
n/a n/a 0.20 0.28 0.83 0.40 0.19 0.48 0.54
Growth +40.0% +196.4% −51.8% −52.5% +152.6% +12.5%
23.8 23.8 23.8 23.8 23.9 24.0 24.0 24.1 24.1
23.8 23.9 24.0 24.1 24.1 24.2 24.1 24.1 24.2
Growth +0.7% +0.3% +0.2% +0.2% +0.2% −0.2% +0.1% +0.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 0.2% a year over five years, and earnings per share grew 14.0% a year.
  • The share count barely moved in five years.
  • Operating margin is up 23.5 points on five years ago, at 29.4%.
  • A net loss in 1 of 9 years on file.