Stocks · Utilities · Regulated Water

Pure Cycle Corporation PCYO

$10.86 -0.37% Close, Oct 5, 2026 · NASDAQ · Market cap $262.7M

Strong growthHigh qualityStrong trend

Next earnings report: Nov 11, 2026

Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.

Three things to know

  1. The shares trade at 17.8× trailing earnings, lower than 86% of the company's own readings over the past five years.
  2. Revenue over the last four quarters was $33.7M, up 22.9% from a year earlier, accelerating from 2.5% a quarter earlier.
  3. Diluted EPS over the last four quarters was $0.61, up 9.6% year over year.

PromtFinance scores

Each score is a percentile within the Utilities sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.

Growth99Exceptional

How fast revenue, earnings and cash flow are growing.

  • Revenue growth (TTM, YoY)Top 9%
  • EPS growth (TTM, YoY)Top 33%
  • Revenue growth, 3-year CAGRTop 41%
  • Revenue growth accelerationTop 1%
Quality89Strong

Returns on capital, margins, earnings quality and balance-sheet strength.

  • Return on invested capitalTop 5%
  • Gross marginTop 25%
  • Operating marginTop 3%
  • Cash conversion (OCF / net income)Bottom 2%
  • Accruals (lower is better)Bottom 1%
  • Net debt / EBITDA (lower is better)Top 3%
  • Interest coverTop 2%
Value45Neutral

How cheap the shares are relative to earnings, cash flow and their own history.

  • Earnings yieldTop 46%
  • Free-cash-flow yieldTop 21%
  • EBITDA / enterprise valueBottom 29%
  • Sales / enterprise valueBottom 7%
  • P/E vs own 5-year history (lower is better)Top 39%
Momentum80Strong

Strength and persistence of the price trend, including versus the S&P 500.

  • 12-month return excluding last monthTop 47%
  • 6-month returnTop 3%
  • 1-year return vs S&P 500Top 36%
  • Distance from 52-week highTop 19%
  • Trend checklist (0–4)Top 24%
Revisions—Not enough data

Earnings surprises and analyst sentiment (estimate-revision history is being collected).

Stability28Very weak

Low volatility, shallow drawdowns, low market sensitivity and modest leverage.

  • Volatility, 60 days (lower is better)Bottom 26%
  • Maximum drawdown, 3 yearsBottom 28%
  • Beta vs S&P 500 (lower is better)Bottom 14%
  • Net debt / EBITDA (lower is better)Top 3%

What changed

Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).

MeasureBeforeNow
Revenue growth (YoY)2.5%22.9%↑
EPS growth (YoY)0.0%9.6%↑
Gross margin66.4%57.8%↓
Operating margin34.7%37.7%↑
FCF margin-5.1%14.3%↑

Fundamental momentum

MeasureNow (TTM)Year / quarter beforeSector rank
Revenue growth (TTM, YoY)22.9%2.5%↑Top 9%
EPS growth (TTM, YoY)9.6%0.0%↑Top 33%
Gross margin57.8%66.4%↓Top 25%
Operating margin37.7%34.7%↑Top 3%
Net margin43.7%49.6%↓—
Free-cash-flow margin14.3%-5.1%↑—
Return on invested capital6.6%—Top 5%
Revenue growth, 3-year CAGR4.3%—Top 41%

Quality of earnings and balance sheet

Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
0.52×
Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
4.0%
Stock-based compensation / revenueA cost to shareholders through dilution.
1.3%
Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
+3.7 pp
Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
0.29×
Interest cover (operating income / interest)How many times operating profit covers interest.
25.4×

Shareholder returns

Dividend yield (dividends paid, TTM)
0.00%
Net buyback yield (TTM)
0.10%
Shareholder yield
0.10%
Share count change, 1 year
+0.1%
Share count change, 3-year CAGR
-0.0%

Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.

Based on the four quarters through May 31, 2026 (filed Jul 8, 2026).

Earnings and expectations

Earnings momentum

Average 2-day reaction, last 8
+1.5%
Positive 20 days after report
5 of 8

How the stock reacted to recent reports

Report dateEPS surprise2 days5 days20 days60 days
Jul 8, 2026—-0.1%-1.6%-0.7%+3.7%
Apr 8, 2026—+6.3%+2.4%+4.0%-2.1%
Jan 7, 2026—-1.3%+6.1%+4.6%-3.5%
Nov 12, 2025—+1.0%-0.8%+7.0%-1.7%
Jul 9, 2025—-1.0%-6.5%-9.2%+2.2%
Apr 9, 2025—+8.3%+0.6%+4.3%+7.4%
Jan 8, 2025—-0.7%-3.1%-2.4%-13.5%
Nov 13, 2024—-0.5%+12.9%+19.7%-0.9%

Returns from the close before each report. Past reactions do not determine future ones.

Earnings history

Report dateEPSEstimateSurpriseRevenue
Jul 8, 2026$0.12——$8.2M
Apr 8, 2026$0.05——$5.2M
Jan 7, 2026$0.19——$9.1M
Nov 12, 2025$0.25——$11.2M
Jul 9, 2025$0.09——$5.1M
Apr 9, 2025$0.03——$4.0M
Jan 8, 2025$0.16——$5.8M
Nov 13, 2024$0.27——$12.6M

Valuation in context

MultipleNow5-year median5-year percentileSector rank (cheapness)
P/E (trailing)17.8×21.6×14thTop 46%
EV / EBITDA13.5×——Bottom 29%
EV / Sales7.96×——Bottom 7%
Free-cash-flow yield1.83%——Top 21%
Earnings yield5.62%——Top 46%

P/E over the past five years

Range 15.0× – 51.6× since May 31, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.

What moved the stock over the past year

Price return, 1 year
-1.6%
Earnings per share growth (TTM)
+9.6%
Change in P/E multiple
-8.7%

Most of the move came from a change in the valuation multiple.

Technical state

Trend checklist

  • ✗ Price above 20-day average
  • ✗ Price above 50-day average
  • ✗ Price above 200-day average
  • ✓ 50-day average above 200-day
  • ✗ MACD histogram positive

Trend quality

Days above the 50-day average
0
Days above the 200-day average
0
50-day average slope (20 days)
+1.0%
200-day average slope (20 days)
-0.4%
Distance from 50-day average
-2.0%
Distance from 200-day average
-0.7%
RSI (14)
41.6
Relative volume
1.11×

Risk and drawdowns

Volatility, 60 days (annualized)
21.0%
Volatility vs own 5-year history
4th percentile · Low for this stock
Beta vs S&P 500 (2 years, weekly)
0.69
Correlation with S&P 500
0.38
Current drawdown from 1-year high
-9.0%
Maximum drawdown, 3 years
-33.4%

Largest declines in the past six years

From peakTo lowDeclineLengthRecovery
Apr 16, 2021Oct 14, 2022-52.5%378 daysNot yet recovered
Oct 12, 2020Oct 26, 2020-14.3%10 days11 days (Nov 10, 2020)
Mar 18, 2021Mar 24, 2021-11.4%4 days13 days (Apr 13, 2021)
Jan 6, 2021Jan 29, 2021-11.3%16 days21 days (Mar 2, 2021)

Declines of 10% or more from a closing high, measured on daily closes.

Financial statements

Market cap
$262.7M
P/E (TTM)
17.8
EPS, diluted (TTM)
$0.61
Revenue (TTM)
$33.7M
52-week range
$9.71 – $12.44
FY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$17.1M$23.0M$14.6M$28.7M$26.1M
Gross profit$10.7M$16.4M$8.0M$19.8M$16.0M
Operating income$5.3M$10.1M$2.1M$12.2M$7.7M
Net income$20.1M$9.6M$4.7M$11.6M$13.1M
EPS (diluted)$0.83$0.40$0.19$0.48$0.54
Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$12.6M$5.8M$4.0M$5.1M$11.2M$9.1M$5.2M$8.2M
Net income$6.6M$3.9M$809,000$2.3M$6.1M$4.6M$1.1M$2.9M
EPS (diluted)$0.27$0.16$0.03$0.09$0.25$0.19$0.05$0.12
FY 2021FY 2022FY 2023FY 2024FY 2025
Operating cash flow$3.5M$17.5M-$2.3M$2.2M$13.2M
Capital expenditure-$2.9M-$5.7M-$7.8M-$2.7M-$9.5M
Free cash flow$560,000$11.8M-$10.2M-$461,000$3.7M
Dividends paid$0$0$0$0$0
Net share buybacks$89,000$34,000$0-$581,000-$397,000

Cash outflows are shown as negative numbers.

Cash and short-term investments
$8.4M
Total assets
$176.0M
Total liabilities
$24.4M
Total debt
$14.1M
Net debt
$5.7M
Shareholders’ equity
$151.6M

As of May 31, 2026 (filed Jul 8, 2026).

Short interest

Shares sold short
486,726
Days to cover
6.10
Change vs previous report
+2.3%

FINRA short interest, settlement date Sep 15, 2026.

Stock splits

Apr 26, 2004
1-for-10