Pure Cycle Corp (PCYO) financials
Pure Cycle revenue and earnings by year
Pure Cycle's revenue was $26.1 million in the fiscal year to August 31, 2025, down 9.3% from the year before. Net income was $13.1 million, 50.3% of revenue. Since the fiscal year to August 31, 2016, revenue has grown 56.9% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Aug 2025 | Aug 2024 | Aug 2023 | Aug 2022 | Aug 2021 | Aug 2020 | Aug 2019 | Aug 2018 | Aug 2017 | Aug 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 26 | 29 | 15 | 23 | 17 | 26 | 20 | 7 | 1 | 0 |
| Revenue growth | -9.3% | 97.1% | -36.6% | 34.3% | -33.8% | 27.0% | 192.6% | 466.8% | 171.5% | — |
| Gross profit | 16 | 20 | 8 | 16 | 11 | 8 | 6 | 3 | 0 | -0 |
| Gross margin | 61.4% | 68.7% | 55.1% | 71.2% | 62.6% | 29.2% | 31.5% | 40.2% | 34.6% | -16.9% |
| Operating income | 8 | 12 | 2 | 10 | 5 | 2 | 3 | -0 | -2 | -2 |
| Operating margin | 29.4% | 42.6% | 14.2% | 43.9% | 30.8% | 5.9% | 14.7% | -4.4% | -173.6% | -482.1% |
| Net income | 13 | 12 | 5 | 10 | 20 | 7 | 5 | 0 | -2 | -1 |
| Net margin | 50.3% | 40.4% | 32.2% | 41.8% | 117.4% | 26.1% | 23.6% | 6.0% | -139.3% | -289.9% |
| Diluted EPS | $0.54 | $0.48 | $0.19 | $0.40 | $0.83 | $0.28 | $0.20 | — | -$0.06 | — |
| Free cash flow | 4 | -3 | -12 | 11 | 1 | 12 | -11 | -6 | -9 | -2 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open PCYO in Markets.
How Pure Cycle makes money
Revenue by segment in the quarter to May 31, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Water & Wastewater Resource Development | $4.66M | 56.7% |
| Land Development | $3.33M | 40.5% |
| Single Family Rentals | $231K | 2.8% |
See also: PCYO valuation and P/E history · PCYO returns
No forecast, no recommendation. This page describes Pure Cycle Corp from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.