| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 1 | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2018 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2016 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 26.01 | 22.11 | 21.93 | 8.44 |
| Receivables | 1.64 | 1.47 | 1.33 | 2.49 |
| Inventory | 1.73 | 3.65 | 7.39 | 4.13 |
| Other | 0.35 | 10.10 | — | — |
| 29.73 | 37.86 | 31.65 | 15.61 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 1.96 | 1.95 | 3.52 | 2.67 |
| ST’ Debt | 0.03 | 0.06 | 0.41 | 1.45 |
| Other | 4.39 | — | — | — |
| 6.50 | 9.35 | 11.62 | 10.18 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Nov | Feb | May | Aug | Year | |
|---|---|---|---|---|---|
| ’26 | 9.14 | 5.17 | 8.22 | — |
—
|
| ’25 | 5.75 | 4.00 | 5.14 | 11.20 |
26.09
|
| ’24 | 5.39 | 3.20 | 7.60 | 12.56 |
28.75
|
| ’23 | 1.34 | 3.00 | 6.88 | 3.37 |
14.59
|
| ’22 | 4.27 | 4.66 | 3.19 | 10.88 |
23.00
|
| ’21 | 4.87 | 4.74 | 2.67 | 4.85 |
17.13
|
| ’20 | 10.46 | 3.52 | 1.85 | 10.03 |
25.86
|
| Nov | Feb | May | Aug | Year | |
|---|---|---|---|---|---|
| ’26 | (0.98) | (4.21) | 3.47 | — |
—
|
| ’25 | 5.67 | (1.37) | (0.43) | 9.29 |
13.16
|
| ’24 | (1.23) | (0.46) | 0.89 | 3.11 |
2.31
|
| ’23 | (0.76) | (7.10) | 4.89 | 0.63 |
(2.34)
|
| ’22 | (5.95) | (7.73) | 1.75 | 29.39 |
17.45
|
| ’21 | 0.01 | (0.09) | 0.28 | 3.26 |
3.46
|
| ’20 | 14.72 | 1.82 | (1.34) | 5.52 |
20.72
|
| Nov | Feb | May | Aug | Year | |
|---|---|---|---|---|---|
| ’26 | (1.58) | (5.72) | 2.07 | — |
—
|
| ’25 | 4.97 | (2.05) | (0.53) | 9.24 |
11.63
|
| ’24 | (2.45) | (0.94) | 0.20 | 2.89 |
(0.30)
|
| ’23 | (1.35) | (8.01) | 5.18 | (0.24) |
(4.42)
|
| ’22 | (7.41) | (8.22) | 1.28 | 30.80 |
16.45
|
| ’21 | (0.02) | (0.14) | 0.26 | 2.98 |
3.07
|
| ’20 | 14.68 | 1.48 | (1.49) | 5.46 |
20.13
|
| Nov | Feb | May | Aug | Year | |
|---|---|---|---|---|---|
| ’26 | 0.19 | 0.05 | 0.12 | — |
—
|
| ’25 | 0.16 | 0.03 | 0.09 | 0.25 |
0.54
|
| ’24 | 0.09 | 0.00 | 0.12 | 0.27 |
0.48
|
| ’23 | 0.01 | 0.01 | 0.14 | 0.04 |
0.19
|
| ’22 | 0.06 | 0.07 | 0.03 | 0.23 |
0.40
|
| ’21 | 0.04 | 0.72 | 0.03 | 0.08 |
0.83
|
| ’20 | 0.24 | 0.01 | 0.00 | 0.03 |
0.28
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 7.77 | 8.47 | 8.94 | 9.65 | — | — | — |
Low Price
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.72 | 13.07 | 14.63 | 12.96 | — | — | — |
High Price
|
| ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 35 | 38 | 39 | 44 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.66 | 0.38 | 0.74 | 0.59 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.00 | 14.59 | 28.75 | 26.09 | — | — | — |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 71.18% | 55.12% | 68.73% | 61.45% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.71 | 6.22 | 15.63 | 17.47 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 55.23% | 42.64% | 54.38% | 66.97% | — | — | — |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.62 | 4.70 | 11.61 | 13.11 | — | — | — |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.13 | 1.90 | 2.10 | 2.30 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.96 | 0.61 | 1.19 | 1.08 | — | — | — |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 0.40 | 0.20 | 0.48 | 0.54 | — | — | — |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.73 | (0.10) | 0.10 | 0.55 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.04) | (0.09) | (0.11) | (0.06) | — | — | — |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.69 | (0.18) | (0.01) | 0.48 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.72 | 4.92 | 5.39 | 5.93 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.95 | 24.03 | 24.08 | 24.08 | — | — | — |
Shares
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.46 | 52.33 | 21.35 | 19.15 | — | — | — |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.75 | 18.11 | 8.59 | 9.37 | — | — | — |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.19 | 2.23 | 1.90 | 1.71 | — | — | — |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.40 | 16.80 | 8.06 | 8.79 | — | — | — |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.15 | (55.44) | (766.96) | 19.71 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.45 | (2.34) | 2.31 | 13.16 | — | — | — |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.01) | (2.08) | (2.61) | (1.53) | — | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.45 | (4.42) | (0.30) | 11.63 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.96 | 23.22 | 28.51 | 20.03 | — | — | — |
Working Cap'
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.96 | 6.92 | 6.89 | 6.79 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (30.93) | (19.10) | (15.23) | (15.14) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 113.00 | 118.23 | 129.70 | 142.74 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.81% | 3.58% | 8.28% | 8.47% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.69% | 1.31% | 6.68% | 3.76% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.92% | 4.06% | 9.37% | 9.62% | — | — | — |
ROE
|
Pure Cycle Corporation (PCYO) has transformed from a modest water utility into a high-growth player in Colorado’s Front Range, capitalizing on population booms and projects like Sky Ranch to drive revenue from $452,200 in 2016 to $28.75 million in 2024—a peak CAGR exceeding 70% in key years. This scalability stems from strategic water rights and infrastructure investments completed by 2020, though lumpy tap fee recognitions cause volatility, as seen in a 37% revenue drop from 2022 to 2023. Efficiency shines with revenue per employee at $737,103 in 2024 (680% above 2016), gross margins at 68.7%, and EBT margins expanding to 54.4%, reflecting operational leverage in a water-scarce market.
A fortress balance sheet underpins resilience: shareholders’ equity up 88% to $130 million, net cash of $15.2 million, and ROE stabilizing at 9.4-9.6%. Stock prices closely track EBT peaks (correlation ~0.85), with highs rising 147% since 2016 amid compounding book value. Valuation multiples have compressed to a reasonable P/E of 21.4 (2024) and 19.2 projected (2025), with EV/FCF at 19.7x on normalizing free cash flow.
Looking ahead, 2025 forecasts show revenue dipping 9% to $26.1 million but EBT rising 12% to $17.5 million on margin gains from backlog taps, supported by demographics and mid-single-digit CAGR potential. Risks include regulatory hurdles and housing slowdowns, tempered by negative net debt for buybacks. Analyst targets imply 42% downside from recent highs, contrasting PCYO’s 20%+ EPS CAGR history—signaling a potential valuation reset amid cyclicality and recent insider selling.
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