PCYONasdaqWater SupplyFiscal year ends August 31
PURE CYCLE CORP
Financials through Q3 FY2026, quarter ended May 31, 2026Last filing: 10-Q on Jul 8, 2026
$10.85−0.17 (-1.54%)
Close on Oct 19, 2026
- Market cap
- $262.17M
- P/E (TTM)
- 17.8
- Dividend yield
- –
PURE CYCLE CORP revenue by segment
By business segment
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Land Development Segment | $15.26M | $17.60M | $7.10M | $12.87M | $7.47M | – | – | – | – | – | 58.5% | -13.3% |
| Water and Wastewater Resource Development Segment | $10.33M | $10.67M | $7.32M | $10.05M | $9.66M | – | – | – | – | – | 39.6% | -3.1% |
| Single-family rentals | $496.00K | $481.00K | $165.00K | $82.00K | – | – | – | – | – | – | 1.9% | +3.1% |
| Land Development Activities [Member] | – | – | – | – | $7.47M | $18.93M | $11.96M | $2.16M | $0 | $0 | – | – |
| Wholesale Water and Wastewater Services [Member] | – | – | – | – | – | – | $8.41M | $4.79M | $1.23M | $452.16K | – | – |
| Water and Wastewater Utility Services [Member] | – | – | – | – | $9.66M | $6.92M | $8.41M | – | – | – | – | – |
| Operating income | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Land Development Activities [Member] | – | – | – | – | – | $3.06M | $651.03K | $150.61K | – | – | – |
| Wholesale Water and Wastewater Services [Member] | – | – | – | – | – | – | $5.77M | $2.65M | – | – | – |
| Water and Wastewater Utility Services [Member] | – | – | – | – | – | $4.48M | $5.77M | – | – | – | – |
By product or service
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Land Development | $15.26M | $17.60M | – | – | – | – | – | – | – | – | 58.5% | -13.3% |
| Lot sales | $13.69M | $16.00M | $6.82M | $12.19M | $5.84M | $5.64M | $11.96M | $2.14M | $0 | $0 | 52.5% | -14.4% |
| Water and Wastewater | $10.33M | $10.67M | – | – | – | – | – | – | – | – | 39.6% | -3.1% |
| Water and wastewater tap fees | $7.34M | $3.38M | $2.99M | $4.92M | $5.16M | $18.93M | $3.64M | – | – | – | 28.1% | +116.8% |
| Water tap fee recognized excluding waste water tap fee | $5.90M | $2.90M | $2.50M | $4.10M | – | – | – | – | – | – | 22.6% | +103.4% |
| Water and wastewater activities | $3.00M | $7.28M | – | – | – | – | – | – | – | – | 11.5% | -58.8% |
| Wastewater Tap Fees | $1.40M | $500.00K | $500.00K | $800.00K | $800.00K | $900.00K | $526.40K | $0 | – | – | 5.4% | +180.0% |
| Special Facility Projects [Member] | $800.00K | $900.00K | $400.00K | $100.00K | $100.00K | – | – | – | – | – | 3.1% | -11.1% |
| Special facility projects and other | $785.00K | $894.00K | $467.00K | $334.00K | $656.00K | – | – | – | – | – | 3.0% | -12.2% |
| Project management fees | $781.00K | $707.00K | $283.00K | $683.00K | $1.63M | – | – | – | – | – | 3.0% | +10.5% |
| Single-family rentals | $496.00K | $481.00K | $165.00K | $82.00K | – | – | – | – | – | – | 1.9% | +3.1% |
| Water Tap Fees | – | – | – | – | – | – | $3.54M | $49.95K | $217.52K | $14.29K | – | – |
| Wastewater treatment fees | – | $343.00K | $302.00K | $248.00K | $199.00K | $96.00K | $35.82K | $46.20K | $45.11K | $43.71K | – | – |
| Special Facility Funding Recognized | – | $100.00K | $100.00K | $200.00K | $400.00K | $0 | $0 | $0 | $41.51K | $41.51K | – | – |
| Other [Member] | – | – | – | – | $656.00K | $147.00K | $170.62K | $168.19K | $98.60K | $131.65K | – | – |
| Metered water usage | – | – | – | – | – | – | $4.65M | $4.56M | $825.06K | $221.00K | – | – |
| Consulting Fees | – | – | – | – | $100.00K | $100.00K | $158.60K | $142.70K | $98.60K | $131.65K | – | – |
| Oil and Gas [Member] | – | – | – | – | – | – | $4.24M | $4.04M | $478.50K | – | – | – |
| Water Tap Fees [Member] | – | – | – | $4.10M | $4.40M | $4.80M | $3.12M | $49.90K | – | – | – | – |
| Lot Sales - Agreement with Purchaser [Member] | – | – | – | – | $1.60M | $4.90M | $4.05M | $0 | – | – | – | – |
| Lot Sales - Agreement with Builder | – | – | – | – | $4.20M | $14.00M | $7.90M | $2.10M | – | – | – | – |
| Metered Water Usage - Industrial Oil and Gas [Member] | – | – | – | – | $2.79M | $513.00K | $4.24M | – | – | – | – | – |
| Metered Water Usage - Municipal Customers | – | $788.00K | $504.00K | $440.00K | $339.00K | $524.00K | $318.20K | – | – | – | – | – |
| Forfeited Water - Oil and Gas Operations [Member] | – | – | – | $1.20M | $1.20M | – | – | – | – | – | – | – |
| Metered Water Usage-Commercial Customers | – | $6.10M | $3.06M | $4.11M | $3.30M | – | – | – | – | – | – | – |
| Phase 2 | – | – | $6.80M | $6.80M | $12.20M | – | – | – | – | – | – | – |
| Phase 2 Development | – | $16.00M | $6.80M | $12.20M | $5.80M | – | – | – | – | – | – | – |
| Drilling Activities [Member] | – | – | $500.00K | – | – | – | – | – | – | – | – | – |
By region
From the segment and revenue-disaggregation notes of Pure Cycle's 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.