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Pure Cycle Corporation provides water and wastewater services in the United States. It operates in three segments: Water and Wastewater Resource Development, Land Development, and Single-Family Rental. The company engages in the wholesale water production, storage, treatment, and distribution systems; wastewater collection and treatment systems; development of land into master planned communities; and construction and leasing of single-family homes. It serves domestic, commercial, and industrial customers. Pure Cycle Corporation was incorporated in 1976 and is headquartered in Watkins, Colorado.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $26M | $20M | $13M | $4M | 9.2% | -9.3% | 12.9% |
| 2024 | $29M | $18M | $12M | $-0M | 9.0% | 97.1% | 147.1% |
| 2023 | $15M | $9M | $5M | $-10M | 4.0% | -36.6% | -51.1% |
| 2022 | $23M | $15M | $10M | $12M | 8.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 26.09 |
| Operating Revenue | 26.09 |
| Cost Of Revenue | 10.06 |
| Gross Profit | 16.03 |
| Operating Expense | 8.36 |
| Selling General And Administration | 7.77 |
| Total Expenses | 18.42 |
| Operating Income | 7.67 |
| Total Operating Income As Reported | 7.67 |
| EBITDA | 20.19 |
| Normalized EBITDA | 20.19 |
| EBIT | 17.90 |
| Interest Income | 3.27 |
| Interest Expense | 0.43 |
| Net Interest Income | 2.85 |
| Other Non Operating Income Expenses | 6.95 |
| Other Income Expense | 6.95 |
| Interest Income Non Operating | 3.27 |
| Interest Expense Non Operating | 0.43 |
| Net Non Operating Interest Income Expense | 2.85 |
| Pretax Income | 17.47 |
| Tax Provision | 4.36 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0 |
| Net Income Continuous Operations | 13.11 |
| Net Income From Continuing And Discontinued Operation | 13.11 |
| Net Income From Continuing Operation Net Minority Interest | 13.11 |
| Net Income | 13.11 |
| Net Income Common Stockholders | 13.11 |
| Net Income Including Noncontrolling Interests | 13.11 |
| Normalized Income | 13.11 |
| Diluted NI Availto Com Stockholders | 13.11 |
| Basic Average Shares | 24.08 |
| Diluted Average Shares | 24.17 |
| Reconciled Depreciation | 2.30 |
| Reconciled Cost Of Revenue | 8.35 |
| Total Unusual Items | - |
| Total Unusual Items Excluding Goodwill | - |
| Special Income Charges | - |
| Impairment Of Capital Assets | - |
| Depreciation Amortization Depletion Income Statement | 0.59 |
| Depreciation And Amortization In Income Statement | 0.59 |
| General And Administrative Expense | 7.77 |
| Other Gand A | 2.75 |
| Salaries And Wages | 4.65 |
| Insurance And Claims | 0.37 |
| Rent Expense Supplemental | 0.18 |
| Depreciation Income Statement | 0.59 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Pure Cycle Corporationthis co. | PCYO | $249M | 18.97↑ premium | 1.74 | 9.2% | 11.57 |
| OPAL Fuels Inc. | OPAL | $404M | 27.36 | -31.22 | -114.1% | 21.25 |
| Cadiz Inc. | CDZI | $383M | -11.23 | 16.49 | -146.9% | -20.46 |
| Genie Energy Ltd. | GNE | $365M | 15.20 | 1.45 | 9.6% | 4.50 |
| RGC Resources, Inc. | RGCO | $233M |
| - |
| - |
| - |
| - |
| - |
| 17.55 |
| 2.05 |
| 11.7% |
| 10.73 |
| Global Water Resources, Inc. | GWRS | $210M | 71.03 | 2.43 | 3.4% | 13.81 |
| XCF Global, Inc. | SAFX | $146M | 1.98 | 3.89 | 196.5% | 3.23 |
| NextNRG, Inc. | NXXT | $109M | -1.27 | -5.53 | 435.7% | -1.98 |
| Verde Clean Fuels, Inc. | VGAS | $68M | -9.80 | 2.28 | -23.3% | -0.92 |
| Peer Median | - | 8.59 | 2.17 | 6.5% | 3.87 | |