Pure Cycle Corporation
PCYO · Price history
Price at last available close
$10.59
−$0.45 (-4.08%) 1M
2026-10-29
Tap or drag sideways to inspect a price. Use two fingers to compare automatically. Release to scroll. Use Shift + arrow keys to compare with a keyboard.
Company & revenue
About Pure Cycle Corporation
Primary reporting period: 2025-08-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
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.
How they make money
Pure Cycle Corporation operates primarily as a land developer and water utility provider. It generates revenue by developing master-planned communities, such as Sky Ranch, and selling finished lots to homebuilders, as well as providing wholesale water and wastewater services to municipal and industrial customers, including oil and gas operators.
Products & services
The company provides wholesale water and wastewater utility services, develops and sells finished residential lots, and operates a single-family rental home business.
Brands & revenue mix
Master-planned community development project.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
Period ended 2025-08-31Source
Period ended 2025-08-31Source
Period ended 2025-08-31Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Disclosed major customers
Customer concentration
As of August 31, 2025, the company reported significant customer concentration with Melody (DR Horton) at 30%, Lennar at 20%, KB Home at 15%, Sky Ranch CAB at 8%, Taylor Morrison at 8%, and Challenger at 5% of total revenue.
Suppliers, materials & equipment
- Construction and infrastructure contractors — The company engages various third-party contractors for land development and infrastructure construction; specific supplier names are not disclosed.Source
Strengths
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-05-31.
Total debt increased 105.5% versus the same quarter last year.
Compare the added borrowing with available cash, cash generation and maturities. A percentage increase from a small starting balance can look large without measuring the full debt burden.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
48
Weak
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
78
Strong
Financial Strength
80
Business Quality / Moat
58
Management
87
Growth Quality
87
Risk / Durability
91
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
42
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
49/100
Building Historical Record
Model Score 49/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Balance-sheet / debt profile scores strongly
- •Recent buyback activity is present
- •Valuation is a weaker part of the current profile
Company-specific research
Questions worth answering for PCYO
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can PCYO maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is PCYO's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Does PCYO's balance between cash and debt leave enough flexibility if business conditions weaken?
- •What future growth or profitability would be needed to justify PCYO's current valuation?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of PCYO's score?
Essential Investment Snapshot
Wall Street Score
48
Opportunity Score
42
Market Cap
$255.2M
P/E Ratio
18.5
EPS
$0.61
52-Week High
$12.44
52-Week Low
$9.71
Beta
1.21
Intrinsic Value
$10.41
Shares Outstanding
24.2M
Total Revenue
$33.7M
Total Debt
$14.1M
Dividend
No current dividend
Liquidation Value / Share
$6.27
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Weakening momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for PCYO
Detected from reported data — verify before acting.Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on PCYO.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Ownership of significant water rights and infrastructure.
- +Integrated land development and utility business model.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Regulated Water industry.
- −Dependence on a limited number of homebuilder customers.
- −Fluctuations in demand from oil and gas industry.
- −Regulatory and environmental risks associated with water rights.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
48
Oct 1, 2026
Change
-0.2
points
Current Score
48
Oct 12, 2026
Category Changes
PCYO decreased 0.2 points because some fundamentals weakened.
Projected Score
Projected Score
45
Projected Change
-2.6 points
Preliminary comparable-period financial changes suggest decline of approximately 2.6 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Near Fair ValueCurrent Price
$10.59
Model Intrinsic Value
$10.41
Difference
+$0.18
+1.7% vs IV
Margin of Safety
-1.7%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.7M | $26.1M | $28.7M | $14.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $14.2M | $10.1M | $9.0M | $6.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $19.5M | $16.0M | $19.8M | $8.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $7.5M | $7.8M | $6.9M | $5.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $6.8M | $8.4M | $7.5M | $6.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $20.3M | $20.2M | $18.2M | $8.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $12.7M | $7.7M | $12.2M | $2.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $500K | $426K | $439K | $206K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $19.6M | $17.5M | $15.6M | $6.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $3.0M | $4.4M | $4.0M | $1.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $14.7M | $13.1M | $11.6M | $4.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $0.61 | $0.54 | $0.48 | $0.20 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 24.10M | 24.08M | 24.08M | 24.03M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 24.16M | 24.17M | 24.14M | 24.11M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$8.2M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.12
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+105.5%
Cash Change
-41.4%
Margin Change
-8.0 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Weakened
- Margins contracted
- Cash position declined
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth. Pressure indicators included cash levels, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 60.0%. EPS increased 28.5%. Cash declined 41.4%. Total debt increased 105.5%. Net income margin declined by 8.0 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Regulated WaterSBS
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
CWCO
Consolidated Water Co. Ltd.
AWR
American States Water Company
ARTNA
Artesian Resources Corporation
AWK
American Water Works Company, Inc.
YORW
The York Water Company
News
Pure Cycle Corporation to Participate in the Lytham Partners Fall 2026 Investor Conference
Bank of New York Mellon Corp Purchases New Shares in Pure Cycle Corporation $PCYO
Pure Cycle Corporation to Participate in Nasdaq / LD Micro Summit Series
Pure Cycle (NASDAQ:PCYO) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?
Rumor Mill · PCYO
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
Related Stock Research
Continue researching this company with related Wall Street Score rankings and investing guides.
Score Alerts
Premium unlocks alerts when a score rises, falls, or reaches your target price.
Start 7-Day Free TrialPortfolio Score
Premium unlocks portfolio scoring, strongest and weakest holdings, and overall margin of safety.
Start 7-Day Free Trial