Pure Cycle Corp. (PCYO)
Nasdaq · Water Supply · Transportation, communications and utilities · CIK 276720 · fiscal year ends in Aug
Closing price $10.70 on 30 Oct 2026; 52-week range $9.85 to $11.94.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $33.7M
- Revenue growth
- 22.9%
- Net income, last twelve months
- $14.7M
- Earnings per share
- $0.61
- Gross margin
- 62.0%
- Operating margin
- 37.7%
- Net margin
- 43.7%
- Return on equity
- 9.7%
- Market value
- $257.8M
- Price to earnings
- 17.5x
- Cash
- $8.4M
- Debt
- $14.1M
- Debt to equity
- 0.09
- Shares outstanding
- 24.1M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Aug 2025 | $26.1M | $7.7M | $13.1M | $0.54 | $12.3M | 10-K filed 12 Nov 2025 |
| FY2024 | 31 Aug 2024 | $28.7M | $12.2M | $11.6M | $0.48 | $1.9M | 10-K filed 13 Nov 2024 |
| FY2023 | 31 Aug 2023 | $14.6M | $2.1M | $4.7M | $0.19 | -$2.7M | 10-K filed 15 Nov 2023 |
| FY2022 | 31 Aug 2022 | $23.0M | $10.1M | $9.6M | $0.40 | $17.3M | 10-K filed 14 Nov 2022 |
| FY2021 | 31 Aug 2021 | $17.1M | $5.3M | $20.1M | $0.83 | $3.1M | 10-K filed 10 Nov 2021 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q3 FY2026 | 31 May 2026 | $8.2M | $2.9M | $0.12 |
| Q2 FY2026 | 28 Feb 2026 | $5.2M | $1.1M | $0.05 |
| Q1 FY2026 | 30 Nov 2025 | $9.1M | $4.6M | $0.19 |
| Q4 FY2025 | 31 Aug 2025 | $11.2M | $6.1M | $0.25 |
| Q3 FY2025 | 31 May 2025 | $5.1M | $2.3M | $0.09 |
| Q2 FY2025 | 28 Feb 2025 | $4.0M | $809.0K | $0.03 |
| Q1 FY2025 | 30 Nov 2024 | $5.8M | $3.9M | $0.16 |
| Q4 FY2024 | 31 Aug 2024 | $12.6M | $6.6M | $0.27 |
Revenue by segment
As the company reports it in the segment note of its annual report.
By business, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Land Development Segment | $15.3M | 58.5% |
| Water and Wastewater Resource Development Segment | $10.3M | 39.6% |
| Single-family rentals | $496.0K | 1.9% |
Company events
The newest 8-K filings of 124 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 25 Aug 2026 | 8-K | Leadership change, Investor update | 5.02, 7.01, 9.01 |
| 9 Jul 2026 | 8-K | Results, Leadership change, Investor update | 2.02, 5.02, 7.01, 9.01 |
| 26 May 2026 | 8-K | Leadership change | 5.02 |
| 9 Apr 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 16 Jan 2026 | 8-K | Leadership change, Material agreement, Shareholder vote, Investor update | 1.01, 5.02, 5.07, 7.01, 9.01 |
| 8 Jan 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 13 Nov 2025 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 10 Jul 2025 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 10 Apr 2025 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 17 Jan 2025 | 8-K | Shareholder vote | 5.07 |
| 10 Jan 2025 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 14 Nov 2024 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
Every filing
The newest filings with the SEC of 357 held.
| Filed | Form | Period |
|---|---|---|
| 25 Aug 2026 | 8-K | 24 Aug 2026 |
| 10 Aug 2026 | DEFA14A | – |
| 9 Jul 2026 | 8-K | 7 Jul 2026 |
| 8 Jul 2026 | 10-Q | 31 May 2026 |
| 26 May 2026 | 8-K | 21 May 2026 |
| 9 Apr 2026 | 8-K | 8 Apr 2026 |
| 8 Apr 2026 | 10-Q | 28 Feb 2026 |
| 16 Jan 2026 | 8-K | 14 Jan 2026 |
| 8 Jan 2026 | 8-K | 7 Jan 2026 |
| 7 Jan 2026 | 10-Q | 30 Nov 2025 |
| 4 Dec 2025 | ARS | 31 Aug 2025 |
| 4 Dec 2025 | DEFA14A | – |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 17 Nov 2025 | Kozlowski Daniel R, Director | Sale outside a trading plan | 68,778 | $11.01 | $757.1K | 2,600,000 | 19 Nov 2025 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 14 Aug 2026 | Magnolia Capital Fund, LP | 13G amended | 7.5% | 1.8M |
| 6 Aug 2026 | Maran Capital Management, LLC | 13D amended | 14.7% | 3.6M |
| 9 Jul 2026 | Maran Capital Management, LLC | 13D amended | 14.7% | 3.6M |
| 16 Jan 2026 | Maran Capital Management, LLC | 13D amended | 14.7% | 3.6M |
| 19 Nov 2025 | Maran Capital Management, LLC | 13D | 14.7% | 3.5M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 453.0K | -3.09% | 7.44 |
| 30 Sep 2026 | 467.4K | -3.96% | 4.57 |
| 15 Sep 2026 | 486.7K | +2.34% | 6.1 |
| 31 Aug 2026 | 475.6K | +3.81% | 5.7 |
| 14 Aug 2026 | 458.1K | +6.91% | 5.05 |
| 31 Jul 2026 | 428.5K | +4.21% | 8.18 |
| 15 Jul 2026 | 411.2K | -0.59% | 6.71 |
| 30 Jun 2026 | 413.6K | +9.18% | 5.24 |
Funds that hold it
From each fund's latest Form 13F.
125 funds held it at 30 Jun 2026: 50 added and 35 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| Magnolia Group, LLC | 1,795,421 | $19.2M | -119,138 |
| BlackRock, Inc. | 1,397,370 | $15.0M | +25,501 |
| Vanguard Capital Management LLC | 927,930 | $9.9M | +12,123 |
| Sapient Capital LLC | 685,024 | $7.3M | -3,335 |
| Heartland Advisors Inc. | 611,309 | $6.5M | -15,955 |
| Geode Capital Management, LLC | 548,230 | $5.9M | +38,777 |
| Kennedy Capital Management LLC | 514,431 | $5.5M | -10,624 |
| Dimensional Fund Advisors LP | 468,979 | $5.0M | +3,964 |
| Gem Investment Advisors, LLC | 449,829 | $4.8M | 0 |
| State Street Corp. | 446,656 | $4.8M | -704 |
Peers
Companies in the same industry.
- American Water Works Company, Inc. (AWK): revenue $5.3B, market value $28.8B
- Essential Utilities, Inc. (WTRG): revenue $2.6B, market value $12.4B
- American States Water Co. (AWR): revenue $697.5M, market value $3.4B
- California Water Service Group (CWT): revenue $1.0B, market value $3.0B
- H2O America (HTO): revenue $838.2M, market value $2.9B
- Middlesex Water Co. (MSEX): revenue $212.3M, market value $1.1B
- York Water Co. (YORW): revenue $83.4M, market value $513.2M
- Consolidated Water Co. Ltd. (CWCO): revenue $127.6M, market value $430.6M
- Cadiz Inc. (CDZI): revenue $11.8M, market value $383.8M
- Artesian Resources Corp. (ARTNA): revenue $116.9M, market value $346.9M