For the twelve months ended May 31, 2026, Pure Cycle Corporation reported $33.73M of revenue and $14.73M of net income.
PCYO revenue was $8.22M in fiscal Q3 2026 (ended May 31, 2026), up 60.0% from a year earlier and up 59.1% from the prior quarter. For the full fiscal 2025 it was $26.09M, down 9.3% from fiscal 2024. Compound annual growth was +0.2% over 5 years and +36.1% over 10 years. It rose in 6 of the last 10 fiscal years.
PCYO net income was $2.95M in fiscal Q3 2026 (ended May 31, 2026), up 30.7% from a year earlier and up 166.8% from the prior quarter. For the full fiscal 2025 it was $13.11M, up 12.9% from fiscal 2024. Compound annual growth was +14.2% over 5 years. It rose in 5 of the last 7 fiscal years.
PCYO diluted EPS was $0.12 in fiscal Q3 2026 (ended May 31, 2026), up 33.3% from a year earlier and up 140.0% from the prior quarter. For the full fiscal 2025 it was $0.54, up 12.5% from fiscal 2024. Compound annual growth was +14.0% over 5 years.
| Line item | Aug 31, 2025 | Aug 31, 2024 | Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | Aug 31, 2020 | Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.09M | $28.75M | $14.59M | $23.00M | $17.13M | $25.86M | $20.36M | $6.96M | $1.23M | $452.2K |
| Cost of revenue | $10.06M | $8.99M | $6.55M | $6.63M | $6.40M | $18.31M | $13.94M | $4.16M | $803.3K | $528.8K |
| Gross profit | $16.03M | $19.76M | $8.04M | $16.37M | $10.72M | $7.54M | $6.42M | $2.80M | $424.5K | -$76.6K |
| Selling, general and admin | $7.77M | $6.92M | $5.47M | $5.89M | $5.14M | $4.25M | $3.11M | $2.86M | $2.20M | $1.85M |
| Operating income | $7.67M | $12.24M | $2.07M | $10.10M | $5.27M | $1.51M | $3.00M | -$308.7K | -$2.13M | -$2.18M |
| Interest expense | $426.0K | $439.0K | $206.0K | - | - | - | - | - | - | - |
| Pre-tax income | $17.47M | $15.63M | $6.22M | $12.71M | $26.59M | $8.92M | $3.53M | $132.7K | -$1.71M | -$1.31M |
| Income tax | $4.36M | $4.02M | $1.52M | $3.09M | $6.48M | $2.17M | -$1.28M | -$282.0K | $0 | $0 |
| Net income | $13.11M | $11.61M | $4.70M | $9.62M | $20.11M | $6.75M | $4.81M | $414.7K | -$1.71M | -$1.31M |
| EPS, basic | $0.54 | $0.48 | $0.20 | $0.40 | $0.84 | $0.28 | $0.20 | $0.02 | -$0.07 | -$0.06 |
| EPS, diluted | $0.54 | $0.48 | $0.19 | $0.40 | $0.83 | $0.28 | $0.20 | $0.02 | -$0.07 | -$0.06 |
| Diluted shares | 24.2M | 24.1M | 24.1M | 24.2M | 24.1M | 24.1M | 24.0M | 23.9M | 23.8M | 23.8M |
| Line item | Aug 31, 2025 | Aug 31, 2024 | Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | Aug 31, 2020 | Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $21.93M | $25.36M | $28.49M | $37.22M | $22.44M | $21.80M | $4.48M | $11.57M | $5.58M | $4.70M |
| Short-term investments | - | - | - | - | - | $0 | $5.19M | $8.72M | $20.06M | $23.18M |
| Receivables | $1.33M | $1.47M | $1.09M | $2.42M | $1.53M | $1.12M | $1.10M | $1.07M | $663.8K | $181.0K |
| Inventory | - | - | - | - | - | - | $11.61M | $5.20M | $0 | - |
| Current assets | $31.65M | $37.86M | $29.73M | $37.79M | $38.72M | $25.99M | $23.54M | $27.92M | $27.12M | $28.81M |
| Total assets | $162.28M | $147.35M | $133.22M | $129.23M | $117.18M | $89.76M | $83.72M | $71.91M | $69.79M | $70.88M |
| Current liabilities | $11.62M | $9.35M | $6.50M | $10.82M | $12.46M | $6.22M | $8.30M | $2.05M | $940.2K | $482.2K |
| Short-term debt | $411.0K | - | - | - | - | - | - | - | - | - |
| Long-term debt | $6.38M | - | - | - | $0 | $0 | $0 | $0 | $0 | - |
| Total debt | $6.79M | $6.88M | - | - | $0 | $0 | $0 | $0 | $0 | - |
| Total liabilities | $19.54M | $17.65M | $14.98M | $16.23M | $14.44M | $7.72M | $8.99M | $2.45M | $2.28M | $1.88M |
| Shareholders' equity | $142.74M | $129.70M | $118.23M | $113.00M | $102.74M | $82.04M | $74.73M | $69.45M | $67.51M | $69.00M |
| Line item | Aug 31, 2025 | Aug 31, 2024 | Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | Aug 31, 2020 | Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $13.16M | $2.31M | -$2.34M | $17.45M | $3.46M | $20.72M | $3.53M | $482 | -$1.05M | -$270.7K |
| Capital expenditures | - | - | - | - | - | - | - | $445.3K | $95.4K | $472.3K |
| Free cash flow | - | - | - | - | - | - | - | -$444.8K | -$1.15M | -$743.0K |
| Investing cash flow | -$9.65M | -$4.83M | -$9.24M | -$6.67M | -$2.90M | -$3.45M | -$10.80M | $5.70M | $1.93M | -$32.12M |
| Financing cash flow | -$491.0K | -$612.0K | $2.85M | $3.99M | $87.0K | $45.0K | $186.2K | $288.0K | -$2.4K | -$2.0K |
| Share repurchases | $397.0K | $581.0K | - | - | - | - | - | - | - | - |
| Stock-based compensation | $323.0K | $436.0K | $539.0K | $603.0K | $497.0K | $517.0K | $336.2K | $324.8K | $233.2K | $219.9K |
| Depreciation and amortization | $2.30M | $2.10M | $2.16M | $2.13M | $1.77M | $1.72M | $1.28M | $902.7K | $734.3K | $420.1K |
| Line item | Aug 31, 2025 | Aug 31, 2024 | Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | Aug 31, 2020 | Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -9.3% | 97.1% | -36.6% | 34.3% | -33.8% | 27.0% | 192.6% | 466.8% | 171.5% | -62.2% |
| Net income growth, YoY | 12.9% | 147.1% | -51.1% | -52.2% | 197.9% | 40.3% | 1060.2% | - | - | - |
| EPS growth, YoY | 12.5% | 152.6% | -52.5% | -51.8% | 196.4% | 40.0% | 900.0% | - | - | - |
| Gross margin | 61.4% | 68.7% | 55.1% | 71.2% | 62.6% | 29.2% | 31.5% | 40.2% | 34.6% | -16.9% |
| Operating margin | 29.4% | 42.6% | 14.2% | 43.9% | 30.8% | 5.9% | 14.7% | -4.4% | -173.6% | -482.1% |
| Net margin | 50.3% | 40.4% | 32.2% | 41.8% | 117.4% | 26.1% | 23.6% | 6.0% | -139.3% | -289.9% |
| Free cash flow margin | - | - | - | - | - | - | - | -6.4% | -93.5% | -164.3% |
| Return on equity | 9.2% | 9.0% | 4.0% | 8.5% | 19.6% | 8.2% | 6.4% | 0.6% | -2.5% | -1.9% |
| Return on assets | 8.1% | 7.9% | 3.5% | 7.4% | 17.2% | 7.5% | 5.7% | 0.6% | -2.5% | -1.8% |
| Current ratio | 2.72 | 4.05 | 4.57 | 3.49 | 3.11 | 4.18 | 2.84 | 13.59 | 28.85 | 59.74 |
| Debt to equity | 0.05 | 0.05 | - | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | - |
| Line item | May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.22M | $5.17M | $9.13M | $11.20M | $5.14M | $4.00M | $5.75M | $12.56M | $7.60M | $3.20M | $5.39M | $3.37M |
| Cost of revenue | $3.94M | $2.38M | $2.88M | $3.62M | $1.88M | $2.47M | $2.08M | $2.79M | $2.74M | $1.42M | $2.04M | $1.60M |
| Gross profit | $4.29M | $2.78M | $6.25M | $7.58M | $3.26M | $1.53M | $3.67M | $9.77M | $4.87M | $1.78M | $3.34M | $1.76M |
| Selling, general and admin | $1.94M | $2.35M | $1.71M | $1.48M | $1.80M | $2.71M | $1.79M | $1.84M | $1.65M | $2.00M | $1.44M | $1.57M |
| Operating income | $2.11M | $263.0K | $4.38M | $5.94M | $1.33M | -$1.33M | $1.72M | $7.79M | $3.07M | -$368.0K | $1.76M | $44.0K |
| Interest expense | $157.0K | $142.0K | $94.0K | $107.0K | $101.0K | $109.0K | $109.0K | $111.0K | $109.0K | $111.0K | $108.0K | $57.0K |
| Pre-tax income | $3.90M | $1.51M | $6.03M | $8.19M | $2.99M | $1.08M | $5.21M | $8.82M | $3.85M | $159.0K | $2.80M | $1.23M |
| Income tax | $955.0K | $407.0K | $1.47M | $2.08M | $737.0K | $267.0K | $1.27M | $2.21M | $1.03M | $41.0K | $737.0K | $177.0K |
| Net income | $2.95M | $1.10M | $4.57M | $6.11M | $2.26M | $809.0K | $3.94M | $6.61M | $2.83M | $118.0K | $2.06M | $1.06M |
| EPS, basic | $0.12 | $0.05 | $0.19 | $0.26 | $0.09 | $0.03 | $0.16 | $0.27 | $0.12 | $0.00 | $0.09 | $0.04 |
| EPS, diluted | $0.12 | $0.05 | $0.19 | $0.26 | $0.09 | $0.03 | $0.16 | $0.27 | $0.12 | $0.00 | $0.09 | $0.03 |
| Diluted shares | 24.2M | 24.2M | 24.2M | - | 24.1M | 24.2M | 24.2M | - | 24.1M | 24.1M | 24.2M | - |
| Line item | May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $8.44M | $4.82M | $17.14M | $21.93M | $14.39M | $16.48M | $19.03M | $25.36M | $20.36M | $20.42M | $21.78M | $28.49M |
| Short-term investments | - | - | - | - | - | - | - | - | $171.0K | $169.0K | $167.0K | - |
| Receivables | $2.49M | $2.75M | $2.50M | $1.33M | $1.33M | $3.40M | $4.99M | $1.47M | $2.30M | $1.71M | $4.78M | $1.09M |
| Current assets | $15.61M | $13.75M | $26.26M | $31.65M | $25.20M | $26.99M | $28.20M | $37.86M | $28.60M | $26.38M | $29.14M | $29.73M |
| Total assets | $175.98M | $166.64M | $168.07M | $162.28M | $151.74M | $149.66M | $149.69M | $147.35M | $140.40M | $135.23M | $137.33M | $133.22M |
| Current liabilities | $10.18M | $9.92M | $11.49M | $11.62M | $7.15M | $7.18M | $7.91M | $9.35M | $9.03M | $6.44M | $8.78M | $6.50M |
| Short-term debt | $1.45M | $1.49M | $440.0K | $411.0K | $346.0K | $252.0K | $161.0K | - | $34.0K | $33.0K | $34.0K | - |
| Long-term debt | $12.67M | $6.48M | $7.55M | $6.38M | $6.51M | $6.62M | $6.72M | - | $6.86M | $6.87M | $6.87M | - |
| Total debt | $14.12M | $7.97M | $7.99M | $6.79M | $6.86M | $6.87M | $6.88M | $6.88M | $6.89M | $6.90M | $6.91M | - |
| Total liabilities | $24.39M | $17.94M | $20.58M | $19.54M | $15.06M | $15.24M | $16.10M | $17.65M | $17.22M | $14.78M | $17.15M | $14.98M |
| Shareholders' equity | $151.58M | $148.70M | $147.49M | $142.74M | $136.68M | $134.41M | $133.59M | $129.70M | $123.18M | $120.44M | $120.18M | $118.23M |
| Line item | May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.47M | -$4.21M | -$979.0K | $9.29M | -$428.0K | -$1.37M | $5.67M | $3.10M | $892.0K | -$457.0K | -$1.23M | $631.0K |
| Investing cash flow | -$6.51M | -$7.92M | -$4.73M | -$1.23M | -$1.22M | -$651.0K | -$6.55M | -$838.0K | -$799.0K | -$803.0K | -$2.39M | -$3.44M |
| Financing cash flow | $6.08M | -$149.0K | $1.20M | -$141.0K | -$32.0K | -$205.0K | -$113.0K | -$150.0K | -$149.0K | -$107.0K | -$206.0K | $2.96M |
| Share repurchases | $79.0K | - | - | $74.0K | $22.0K | $193.0K | $108.0K | $142.0K | $141.0K | $100.0K | $198.0K | - |
| Stock-based compensation | $17.0K | $228.0K | $183.0K | $29.0K | $29.0K | $209.0K | $56.0K | $56.0K | $55.0K | $244.0K | $81.0K | -$20.0K |
| Depreciation and amortization | $625.0K | $556.0K | $566.0K | $620.0K | $534.0K | $617.0K | $526.0K | $521.0K | $585.0K | $508.0K | $486.0K | $562.0K |
| Line item | May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 60.0% | 29.4% | 58.8% | -10.8% | -32.4% | 25.0% | 6.8% | 272.9% | 10.5% | 6.6% | 301.9% | -69.0% |
| Net income growth, YoY | 30.7% | 36.6% | 16.0% | -7.5% | -20.1% | 585.6% | 90.7% | 525.5% | -14.3% | -37.6% | 1198.7% | -81.1% |
| EPS growth, YoY | 33.3% | 66.7% | 18.8% | -3.7% | -25.0% | - | 77.8% | - | -14.3% | -100.0% | 800.0% | - |
| Gross margin | 52.1% | 53.9% | 68.4% | 67.7% | 63.4% | 38.2% | 63.8% | 77.8% | 64.0% | 55.6% | 62.0% | 52.4% |
| Operating margin | 25.7% | 5.1% | 48.0% | 53.1% | 26.0% | -33.2% | 29.9% | 62.0% | 40.3% | -11.5% | 32.6% | 1.3% |
| Net margin | 35.9% | 21.4% | 50.0% | 54.5% | 43.9% | 20.3% | 68.4% | 52.6% | 37.2% | 3.7% | 38.3% | 31.4% |
| Current ratio | 1.53 | 1.39 | 2.29 | 2.72 | 3.52 | 3.76 | 3.56 | 4.05 | 3.17 | 4.10 | 3.32 | 4.57 |
| Debt to equity | 0.09 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | - |
Source: XBRL data Pure Cycle Corporation files with the SEC, latest filing dated Jul 8, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| PCYO | $33.73M | +22.9% | $14.73M | 43.7% | $266.8M |
| AWK | $5.34B | +5.3% | $1.14B | 21.3% | $29.71B |
| SBS | R$39.91B | +2.7% | R$8.46B | 21.2% | $17.45B |
| WTRG | $2.60B | +9.2% | $566.63M | 21.8% | $12.92B |
| AWR | $697.48M | +13.2% | $143.13M | 20.5% | $3.57B |
| CWT | $1.02B | +4.8% | $137.39M | 13.5% | $3.15B |
| HTO | $846.18M | +4.8% | $104.87M | 12.4% | $3.00B |
| MSEX | $212.25M | +8.9% | $52.01M | 24.5% | $1.14B |
| YORW | $87.39M | +13.7% | $25.41M | 29.1% | $525.6M |