Pure Cycle (PCYO) Financials

$9.96 -0.04 (-0.40%)

Closing price 04/17/2025 04:00 PM Eastern

Extended Trading

$9.96 0.00 (0.00%)

As of 04/17/2025 04:05 PM Eastern

Annual Income Statements for Pure Cycle

This table shows Pure Cycle's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	9.62	4.70	12
Consolidated Net Income / (Loss)	9.62	4.70	12
Net Income / (Loss) Continuing Operations	9.62	4.70	12
Total Pre-Tax Income	13	6.22	16
Total Operating Income	10	2.07	12
Total Gross Profit	16	8.04	20
Total Revenue	23	15	29
Operating Revenue	23	15	29
Total Cost of Revenue	6.63	6.55	8.99
Operating Cost of Revenue	6.63	6.55	8.99
Total Operating Expenses	6.28	5.97	7.52
Selling, General & Admin Expense	5.89	5.47	6.92
Depreciation Expense	0.39	0.50	0.60
Total Other Income / (Expense), net	2.61	4.15	3.39
Interest Expense	0.09	0.21	0.44
Interest & Investment Income	2.64	1.37	1.97
Other Income / (Expense), net	0.06	2.99	1.86
Income Tax Expense	3.09	1.52	4.02
Basic Earnings per Share	$0.40	$0.20	$0.48
Weighted Average Basic Shares Outstanding	23.95M	24.03M	24.08M
Diluted Earnings per Share	$0.40	$0.19	$0.48
Weighted Average Diluted Shares Outstanding	24.16M	24.11M	24.14M
Weighted Average Basic & Diluted Shares Outstanding	23.84M	24.09M	24.07M

This table shows Pure Cycle's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Income / (Loss) Attributable to Common Shareholders	0.84	5.58	0.16	0.19	3.30	1.06	2.07	0.12	2.83	6.61	3.94
Consolidated Net Income / (Loss)	0.84	5.58	0.16	0.19	3.30	1.06	2.07	0.12	2.83	6.61	3.94
Net Income / (Loss) Continuing Operations	0.84	5.58	0.16	0.19	3.30	1.06	2.07	0.12	2.83	6.61	3.94
Total Pre-Tax Income	1.08	7.44	0.29	0.28	4.42	1.23	2.80	0.16	3.85	8.82	5.21
Total Operating Income	0.62	6.48	-1.49	-0.24	3.76	0.04	1.76	-0.37	3.07	7.79	1.72
Total Gross Profit	1.79	8.53	0.01	1.59	4.67	1.76	3.34	1.78	4.87	9.77	3.67
Total Revenue	3.19	11	1.34	3.00	6.88	3.37	5.39	3.20	7.60	13	5.75
Operating Revenue	3.19	11	1.34	3.00	6.88	3.37	5.39	3.20	7.60	13	5.75
Total Cost of Revenue	1.39	2.35	1.33	1.41	2.21	1.60	2.04	1.42	2.74	2.79	2.09
Operating Cost of Revenue	1.39	2.35	1.33	1.41	2.21	1.60	2.04	1.42	2.74	2.79	2.09
Total Operating Expenses	1.17	2.05	1.50	1.83	0.92	1.72	1.59	2.15	1.80	1.99	1.95
Selling, General & Admin Expense	1.07	1.94	1.39	1.71	0.81	1.57	1.44	2.00	1.65	1.84	1.79
Depreciation Expense	0.10	0.11	0.12	0.12	0.11	0.15	0.15	0.15	0.15	0.15	0.16
Total Other Income / (Expense), net	0.46	0.95	1.78	0.52	0.66	1.19	1.05	0.53	0.78	1.03	3.49
Interest Expense	0.03	0.04	0.05	0.05	0.05	0.06	0.11	0.11	0.11	0.11	0.11
Interest & Investment Income	0.48	0.97	0.61	0.57	0.34	-0.16	0.36	0.57	0.69	-0.38	3.06
Other Income / (Expense), net	0.01	0.03	1.22	-0.00	0.37	1.40	0.79	0.06	0.20	1.52	0.54
Income Tax Expense	0.25	1.86	0.13	0.09	1.12	0.18	0.74	0.04	1.03	2.21	1.27
Basic Earnings per Share	$0.03	$0.24	$0.01	$0.01	$0.14	$0.04	$0.09	$0.00	$0.12	$0.27	$0.16
Weighted Average Basic Shares Outstanding	23.97M	23.95M	23.99M	24.02M	24.05M	24.03M	24.08M	24.09M	24.09M	24.08M	24.07M
Diluted Earnings per Share	$0.03	$0.24	$0.01	$0.01	$0.14	$0.03	$0.09	$0.00	$0.12	$0.27	$0.16
Weighted Average Diluted Shares Outstanding	24.12M	24.16M	24.09M	24.14M	24.17M	24.11M	24.15M	24.15M	24.14M	24.14M	24.16M
Weighted Average Basic & Diluted Shares Outstanding	23.98M	23.84M	23.99M	24.05M	24.05M	24.09M	24.08M	24.09M	24.08M	24.07M	24.08M

This table details how cash moves in and out of Pure Cycle's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	15	-8.74	-3.13
Net Cash From Operating Activities	17	-2.34	2.21
Net Cash From Continuing Operating Activities	17	-2.34	2.21
Net Income / (Loss) Continuing Operations	9.62	4.70	12
Consolidated Net Income / (Loss)	9.62	4.70	12
Depreciation Expense	2.13	2.16	2.10
Non-Cash Adjustments To Reconcile Net Income	8.84	-6.87	-15
Changes in Operating Assets and Liabilities, net	-3.13	-2.33	3.16
Net Cash From Investing Activities	-6.67	-9.24	-4.73
Net Cash From Continuing Investing Activities	-6.67	-9.24	-4.73
Purchase of Property, Plant & Equipment	-0.16	-0.39	-0.46
Purchase of Investments	0.00	-15	0.00
Sale and/or Maturity of Investments	0.00	15	0.00
Other Investing Activities, net	-6.51	-9.10	-4.27
Net Cash From Financing Activities	3.99	2.85	-0.61
Net Cash From Continuing Financing Activities	3.99	2.85	-0.61
Repayment of Debt	-0.04	-0.04	-0.03
Repurchase of Common Equity	-	0.00	-0.58
Issuance of Debt	4.00	3.00	0.00
Other Financing Activities, net	0.03	-0.11	0.00
Cash Interest Paid	0.06	0.14	0.42
Cash Income Taxes Paid	5.26	0.95	2.06

This table details how cash moves in and out of Pure Cycle's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Change in Cash & Equivalents	0.21	29	-18	-9.62	19	0.16	-3.82	-1.37	-0.06	2.12	-0.99
Net Cash From Operating Activities	1.75	29	-0.76	-7.10	4.89	0.63	-1.23	-0.46	0.89	3.01	5.67
Net Cash From Continuing Operating Activities	1.75	29	-0.76	-7.10	4.89	0.63	-1.23	-0.46	0.89	3.01	5.67
Net Income / (Loss) Continuing Operations	0.84	5.58	0.16	0.19	3.30	1.06	2.07	0.12	2.83	6.61	3.94
Consolidated Net Income / (Loss)	0.84	5.58	0.16	0.19	3.30	1.06	2.07	0.12	2.83	6.61	3.94
Depreciation Expense	0.44	0.79	0.49	0.58	0.52	0.56	0.49	0.51	0.59	0.52	0.53
Non-Cash Adjustments To Reconcile Net Income	-0.89	19	-1.42	-1.94	-0.53	-2.97	-3.09	-0.68	-5.48	-5.42	6.22
Changes in Operating Assets and Liabilities, net	1.36	4.20	0.01	-5.93	1.60	1.99	-0.69	-0.41	2.96	1.30	-5.01
Net Cash From Investing Activities	-1.55	-2.87	-17	-2.52	14	-3.44	-2.39	-0.80	-0.80	-0.74	-6.55
Net Cash From Continuing Investing Activities	-1.55	-2.87	-17	-2.52	14	-3.44	-2.39	-0.80	-0.80	-0.74	-6.55
Purchase of Property, Plant & Equipment	1.95	-0.16	-0.08	-0.12	-0.08	-0.12	0.00	-0.10	-0.31	-0.05	-0.28
Purchase of Investments	-	-	-15	-	-	-	-0.17	-0.00	-0.00	0.17	0.00
Other Investing Activities, net	-3.49	-2.72	-2.10	-2.40	-1.28	-3.32	-2.22	-0.71	-0.48	-0.86	-6.27
Net Cash From Financing Activities	-	2.96	-0.11	-0.00	-0.00	2.96	-0.21	-0.11	-0.15	-0.15	-0.11
Net Cash From Continuing Financing Activities	-	2.96	-0.11	-0.00	-0.00	2.96	-0.21	-0.11	-0.15	-0.15	-0.11
Repayment of Debt	-	-0.04	-0.00	-0.00	-0.00	-0.04	-0.01	-0.01	-0.01	-0.01	-0.01
Repurchase of Common Equity	-	-	0.00	-	-	-	-0.20	-0.10	-0.14	-0.14	-0.11
Cash Interest Paid	-	0.06	0.05	0.05	0.04	-	0.11	0.10	0.10	0.11	0.10
Cash Income Taxes Paid	-	-	0.00	4.27	-	-3.32	0.00	-0.88	-	1.99	0.00

This table presents Pure Cycle's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	129	133	147
Total Current Assets	38	30	38
Cash & Equivalents	35	26	22
Note & Lease Receivable	-	0.00	10
Accounts Receivable	2.43	1.09	1.47
Inventories, net	-	1.73	3.65
Prepaid Expenses	0.47	0.35	0.53
Plant, Property, & Equipment, net	1.22	5.46	3.16
Plant, Property & Equipment, gross	1.22	5.46	3.16
Total Noncurrent Assets	90	98	106
Long-Term Investments	59	58	60
Noncurrent Note & Lease Receivables	18	26	32
Other Noncurrent Operating Assets	13	1.72	1.32
Other Noncurrent Nonoperating Assets	-	12	12
Total Liabilities & Shareholders' Equity	129	133	147
Total Liabilities	16	15	18
Total Current Liabilities	11	6.50	9.35
Short-Term Debt	0.01	0.03	0.06
Accounts Payable	0.85	1.96	1.95
Accrued Expenses	2.59	2.78	3.72
Current Deferred Revenue	4.85	1.73	2.17
Current Deferred & Payable Income Tax Liabilities	2.53	0.00	1.44
Total Noncurrent Liabilities	5.41	8.48	8.30
Long-Term Debt	3.95	6.89	6.82
Noncurrent Deferred & Payable Income Tax Liabilities	1.08	1.35	1.40
Other Noncurrent Operating Liabilities	0.32	0.24	0.09
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	113	118	130
Total Preferred & Common Equity	113	118	130
Preferred Stock	0.00	0.00	0.00
Total Common Equity	113	118	130
Common Stock	174	175	175
Retained Earnings	-61	-57	-46

This table presents Pure Cycle's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Total Assets	115	128	125	128	137	135	140	150
Total Current Assets	24	34	27	30	29	26	29	28
Cash & Equivalents	5.42	17	7.22	26	22	20	20	19
Note & Lease Receivable	16	-	-	-	-	-	-	0.00
Accounts Receivable	1.20	1.24	2.12	2.67	4.78	1.71	2.30	4.99
Inventories, net	-	-	-	-	2.16	3.44	5.18	3.72
Prepaid Expenses	0.69	0.31	0.60	0.39	0.25	0.64	0.58	0.46
Plant, Property, & Equipment, net	3.29	2.48	3.38	4.93	5.87	6.23	4.24	2.58
Plant, Property & Equipment, gross	3.29	2.48	3.38	4.93	5.87	6.23	4.24	2.58
Total Noncurrent Assets	88	92	95	93	102	103	108	119
Long-Term Investments	53	59	58	58	58	57	59	64
Noncurrent Note & Lease Receivables	20	20	22	25	30	30	35	37
Other Noncurrent Operating Assets	15	14	15	11	-	-	-	1.52
Other Noncurrent Nonoperating Assets	-	-	-	-	15	15	14	17
Total Liabilities & Shareholders' Equity	115	128	125	128	137	135	140	150
Total Liabilities	8.08	15	12	11	17	15	17	16
Total Current Liabilities	5.34	9.56	6.47	6.15	8.78	6.44	9.03	7.91
Short-Term Debt	0.01	0.01	0.01	0.01	0.03	0.03	0.03	0.16
Accounts Payable	2.81	1.69	1.25	0.91	2.78	1.17	3.31	2.23
Accrued Expenses	0.93	0.92	1.20	1.74	1.92	2.42	2.74	2.27
Current Deferred Revenue	1.28	4.44	4.01	3.49	3.84	2.64	1.56	0.54
Current Deferred & Payable Income Tax Liabilities	0.31	2.49	0.00	0.00	0.20	0.18	1.38	2.71
Total Noncurrent Liabilities	2.74	5.23	5.14	4.82	8.37	8.34	8.20	8.19
Long-Term Debt	0.99	3.95	3.95	3.94	6.87	6.87	6.86	6.72
Noncurrent Deferred & Payable Income Tax Liabilities	1.43	1.24	1.17	0.87	1.35	1.35	1.23	1.40
Other Noncurrent Operating Liabilities	0.32	0.00	0.00	0.00	0.14	0.12	0.11	0.08
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	107	113	114	117	120	120	123	134
Total Preferred & Common Equity	107	113	114	117	120	120	123	134
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	107	113	114	117	120	120	123	134
Common Stock	174	174	175	175	175	175	175	175
Retained Earnings	-67	-61	-61	-58	-55	-55	-52	-42

This table displays calculated financial ratios and metrics derived from Pure Cycle's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	34.32%	-36.59%	97.09%
EBITDA Growth	-50.65%	-41.24%	124.46%
EBIT Growth	-56.06%	-50.17%	178.58%
NOPAT Growth	91.82%	-79.52%	481.00%
Net Income Growth	-52.17%	-51.15%	147.14%
EPS Growth	-51.81%	-52.50%	152.63%
Operating Cash Flow Growth	405.03%	-113.40%	194.57%
Free Cash Flow Firm Growth	-62.44%	-133.03%	26.74%
Invested Capital Growth	-19.09%	25.30%	41.94%
Revenue Q/Q Growth	89.98%	-33.99%	47.01%
EBITDA Q/Q Growth	112.01%	-42.32%	134.80%
EBIT Q/Q Growth	153.99%	-50.02%	196.32%
NOPAT Q/Q Growth	79.79%	-75.21%	168.16%
Net Income Q/Q Growth	80.37%	-49.02%	91.51%
EPS Q/Q Growth	100.00%	-52.50%	100.00%
Operating Cash Flow Q/Q Growth	301.31%	-108.85%	1,465.43%
Free Cash Flow Firm Q/Q Growth	-62.49%	-122.78%	-192.58%
Invested Capital Q/Q Growth	-53.06%	-20.91%	12.41%
Profitability Metrics	-	-	-
Gross Margin	71.18%	55.12%	68.73%
EBITDA Margin	53.39%	49.48%	56.35%
Operating Margin	43.89%	14.21%	42.59%
EBIT Margin	44.16%	34.70%	49.05%
Profit (Net Income) Margin	41.82%	32.22%	40.40%
Tax Burden Percent	75.71%	75.55%	74.29%
Interest Burden Percent	125.09%	122.90%	110.87%
Effective Tax Rate	24.29%	24.45%	25.71%
Return on Invested Capital (ROIC)	29.27%	5.95%	25.68%
ROIC Less NNEP Spread (ROIC-NNEP)	26.85%	2.44%	22.84%
Return on Net Nonoperating Assets (RNNOA)	-20.35%	-1.88%	-16.32%
Return on Equity (ROE)	8.92%	4.06%	9.37%
Cash Return on Invested Capital (CROIC)	50.38%	-16.51%	-8.99%
Operating Return on Assets (OROA)	8.24%	3.86%	10.05%
Return on Assets (ROA)	7.81%	3.58%	8.28%
Return on Common Equity (ROCE)	8.92%	4.06%	9.37%
Return on Equity Simple (ROE_SIMPLE)	8.51%	3.97%	8.95%
Net Operating Profit after Tax (NOPAT)	7.64	1.57	9.09
NOPAT Margin	33.23%	10.73%	31.64%
Net Nonoperating Expense Percent (NNEP)	2.42%	3.51%	2.84%
Cost of Revenue to Revenue	28.82%	44.88%	31.27%
SG&A Expenses to Revenue	25.62%	37.50%	24.08%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.29%	40.92%	26.15%
Earnings before Interest and Taxes (EBIT)	10	5.06	14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	12	7.22	16
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	2.19	2.24	1.98
Price to Tangible Book Value (P/TBV)	2.19	2.24	1.98
Price to Revenue (P/Rev)	10.76	18.12	8.92
Price to Earnings (P/E)	25.73	56.26	22.08
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	3.89%	1.78%	4.53%
Enterprise Value to Invested Capital (EV/IC)	6.76	6.40	4.35
Enterprise Value to Revenue (EV/Rev)	6.86	12.85	6.29
Enterprise Value to EBITDA (EV/EBITDA)	12.85	25.98	11.15
Enterprise Value to EBIT (EV/EBIT)	15.54	37.04	12.82
Enterprise Value to NOPAT (EV/NOPAT)	20.65	119.76	19.87
Enterprise Value to Operating Cash Flow (EV/OCF)	9.04	0.00	81.69
Enterprise Value to Free Cash Flow (EV/FCFF)	12.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.04	0.06	0.05
Long-Term Debt to Equity	0.04	0.06	0.05
Financial Leverage	-0.76	-0.77	-0.71
Leverage Ratio	1.14	1.14	1.13
Compound Leverage Factor	1.43	1.39	1.25
Debt to Total Capital	3.44%	5.53%	5.04%
Short-Term Debt to Total Capital	0.01%	0.02%	0.05%
Long-Term Debt to Total Capital	3.43%	5.50%	4.99%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	96.56%	94.47%	94.96%
Debt to EBITDA	0.33	0.96	0.43
Net Debt to EBITDA	-7.30	-10.65	-4.67
Long-Term Debt to EBITDA	0.33	0.95	0.42
Debt to NOPAT	0.53	4.42	0.76
Net Debt to NOPAT	-11.73	-49.12	-8.33
Long-Term Debt to NOPAT	0.52	4.40	0.75
Altman Z-Score	9.17	10.44	9.03
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	3.49	4.57	4.05
Quick Ratio	3.45	4.17	3.60
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	13	-4.35	-3.18
Operating Cash Flow to CapEx	11,117.20%	-593.65%	482.97%
Free Cash Flow to Firm to Interest Expense	146.19	-21.10	-7.25
Operating Cash Flow to Interest Expense	193.93	-11.35	5.04
Operating Cash Flow Less CapEx to Interest Expense	192.19	-13.27	4.00
Efficiency Ratios	-	-	-
Asset Turnover	0.19	0.11	0.20
Accounts Receivable Turnover	11.63	8.29	22.42
Inventory Turnover	0.00	0.00	3.35
Fixed Asset Turnover	10.16	4.37	6.67
Accounts Payable Turnover	2.40	4.66	4.60
Days Sales Outstanding (DSO)	31.39	44.00	16.28
Days Inventory Outstanding (DIO)	0.00	0.00	109.10
Days Payable Outstanding (DPO)	151.89	78.31	79.35
Cash Conversion Cycle (CCC)	-120.49	-34.31	46.02
Capital & Investment Metrics	-	-	-
Invested Capital	23	29	42
Invested Capital Turnover	0.88	0.55	0.81
Increase / (Decrease) in Invested Capital	-5.51	5.91	12
Enterprise Value (EV)	158	187	181
Market Capitalization	247	264	256
Book Value per Share	$4.71	$4.92	$5.39
Tangible Book Value per Share	$4.71	$4.92	$5.39
Total Capital	117	125	137
Total Debt	4.02	6.92	6.89
Total Long-Term Debt	4.01	6.89	6.82
Net Debt	-90	-77	-76
Capital Expenditures (CapEx)	0.16	0.39	0.46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-7.92	-2.76	6.46
Debt-free Net Working Capital (DFNWC)	27	23	29
Net Working Capital (NWC)	27	23	29
Net Nonoperating Expense (NNE)	-1.98	-3.13	-2.52
Net Nonoperating Obligations (NNO)	-90	-89	-88
Total Depreciation and Amortization (D&A)	2.13	2.16	2.10
Debt-free, Cash-free Net Working Capital to Revenue	-34.43%	-18.90%	22.49%
Debt-free Net Working Capital to Revenue	117.26%	159.43%	99.41%
Net Working Capital to Revenue	117.22%	159.22%	99.19%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.40	$0.20	$0.48
Adjusted Weighted Average Basic Shares Outstanding	23.95M	24.03M	24.08M
Adjusted Diluted Earnings per Share	$0.40	$0.19	$0.48
Adjusted Weighted Average Diluted Shares Outstanding	24.16M	24.11M	24.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	23.84M	24.09M	24.07M
Normalized Net Operating Profit after Tax (NOPAT)	7.64	1.57	9.09
Normalized NOPAT Margin	33.23%	10.73%	31.64%
Pre Tax Income Margin	55.23%	42.64%	54.38%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	112.86	24.57	32.12
NOPAT to Interest Expense	84.93	7.60	20.72
EBIT Less CapEx to Interest Expense	111.11	22.66	31.07
NOPAT Less CapEx to Interest Expense	83.19	5.69	19.67
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	5.00%

This table displays calculated financial ratios and metrics derived from Pure Cycle's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.54%	68,093.75%	-68.64%	-35.70%	115.85%	-69.04%	301.94%	6.60%	10.54%	272.92%	6.80%
EBITDA Growth	37.50%	797.17%	-88.50%	-82.65%	330.98%	-72.52%	1,267.57%	-40.35%	-16.98%	389.59%	-8.17%
EBIT Growth	79.60%	1,749.43%	-118.18%	-115.83%	551.10%	-77.80%	1,040.96%	-26.14%	-20.74%	543.94%	-11.29%
NOPAT Growth	84.26%	229.02%	-172.79%	-113.97%	480.89%	-99.22%	257.97%	-67.98%	-19.68%	15,374.42%	0.41%
Net Income Growth	34.13%	332.51%	-89.50%	-88.84%	293.67%	-81.06%	1,198.74%	-37.57%	-14.26%	525.47%	90.65%
EPS Growth	0.00%	500.00%	-83.33%	-85.71%	366.67%	-87.50%	800.00%	-100.00%	-14.29%	800.00%	77.78%
Operating Cash Flow Growth	525.71%	800.61%	87.27%	8.19%	178.88%	-97.85%	-62.01%	93.56%	-81.74%	376.23%	562.05%
Free Cash Flow Firm Growth	290.26%	-68.10%	316.74%	426.96%	-50.28%	-156.62%	-107.21%	-96.46%	-85.24%	-9.76%	-49.46%
Invested Capital Growth	-38.24%	-19.09%	-71.25%	-62.92%	-25.64%	25.30%	22.52%	-6.73%	-0.13%	41.94%	25.52%
Revenue Q/Q Growth	-31.67%	241.36%	-87.68%	123.81%	129.38%	-51.04%	59.92%	-40.64%	137.85%	65.18%	-54.20%
EBITDA Q/Q Growth	-45.31%	577.46%	-96.96%	54.05%	1,258.48%	-56.80%	51.27%	-91.18%	1,790.69%	154.76%	-71.63%
EBIT Q/Q Growth	-58.34%	926.81%	-104.16%	11.07%	1,812.86%	-65.00%	76.47%	-116.65%	1,176.32%	184.38%	-75.69%
NOPAT Q/Q Growth	-58.56%	907.88%	-116.85%	80.15%	1,823.07%	-98.65%	3,334.18%	-121.10%	923.86%	159.17%	-77.72%
Net Income Q/Q Growth	-50.56%	566.07%	-97.15%	18.87%	1,643.39%	-67.95%	95.55%	-94.29%	2,294.07%	133.81%	-40.39%
EPS Q/Q Growth	-57.14%	700.00%	-95.83%	0.00%	1,300.00%	-78.57%	200.00%	-100.00%	0.00%	125.00%	-40.74%
Operating Cash Flow Q/Q Growth	122.66%	1,577.34%	-102.58%	-836.41%	168.84%	-87.09%	-294.61%	62.79%	295.19%	236.88%	88.82%
Free Cash Flow Firm Q/Q Growth	263.69%	-66.86%	527.22%	-3.89%	-75.11%	-137.74%	20.12%	147.19%	3.76%	-380.65%	-8.78%
Invested Capital Q/Q Growth	-50.05%	-53.06%	13.79%	39.00%	0.17%	-20.91%	11.26%	5.81%	7.26%	12.41%	-1.61%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	56.26%	78.44%	1.04%	52.98%	67.93%	52.38%	62.05%	55.58%	63.99%	77.82%	63.73%
EBITDA Margin	33.82%	67.13%	16.57%	11.40%	67.54%	59.59%	56.37%	6.38%	50.72%	78.23%	48.47%
Operating Margin	19.58%	59.60%	-111.12%	-8.00%	54.62%	1.31%	32.60%	-11.51%	40.35%	61.99%	29.89%
EBIT Margin	19.89%	59.84%	-20.22%	-8.04%	60.01%	42.90%	47.35%	-9.51%	43.03%	74.08%	39.33%
Profit (Net Income) Margin	26.26%	51.25%	11.87%	6.30%	47.90%	31.35%	38.34%	3.69%	37.15%	52.59%	68.45%
Tax Burden Percent	77.29%	74.96%	55.02%	67.74%	74.56%	85.64%	73.70%	74.21%	73.34%	74.90%	75.60%
Interest Burden Percent	170.82%	114.24%	-106.64%	-115.77%	107.05%	85.33%	109.88%	-52.30%	117.73%	94.78%	230.24%
Effective Tax Rate	22.71%	25.04%	44.98%	32.26%	25.44%	14.36%	26.30%	25.79%	26.66%	25.10%	24.40%
Return on Invested Capital (ROIC)	2.81%	39.35%	-20.61%	-1.46%	20.74%	0.62%	15.14%	-4.51%	15.64%	37.69%	17.91%
ROIC Less NNEP Spread (ROIC-NNEP)	1.90%	38.48%	-22.60%	-2.30%	20.02%	-0.52%	14.25%	-4.99%	14.95%	36.82%	14.98%
Return on Net Nonoperating Assets (RNNOA)	-0.71%	-29.16%	10.24%	0.87%	-12.28%	0.40%	-10.64%	3.47%	-10.35%	-26.30%	-10.65%
Return on Equity (ROE)	2.10%	10.19%	-10.38%	-0.59%	8.46%	1.02%	4.50%	-1.04%	5.29%	11.39%	7.26%
Cash Return on Invested Capital (CROIC)	53.81%	50.38%	119.68%	97.66%	43.97%	-16.51%	-6.64%	17.99%	9.30%	-8.99%	2.21%
Operating Return on Assets (OROA)	2.15%	11.17%	-3.32%	-1.24%	10.89%	4.77%	6.65%	-1.37%	6.27%	15.18%	7.98%
Return on Assets (ROA)	2.83%	9.57%	1.95%	0.97%	8.69%	3.49%	5.38%	0.53%	5.41%	10.78%	13.89%
Return on Common Equity (ROCE)	2.10%	10.19%	-10.38%	-0.59%	8.46%	1.02%	4.50%	-1.04%	5.29%	11.39%	7.26%
Return on Equity Simple (ROE_SIMPLE)	4.97%	0.00%	7.30%	5.94%	7.87%	0.00%	5.50%	5.42%	4.92%	0.00%	10.09%
Net Operating Profit after Tax (NOPAT)	0.48	4.86	-0.82	-0.16	2.80	0.04	1.29	-0.27	2.25	5.83	1.30
NOPAT Margin	15.13%	44.68%	-61.13%	-5.42%	40.72%	1.12%	24.03%	-8.54%	29.59%	46.43%	22.59%
Net Nonoperating Expense Percent (NNEP)	0.91%	0.87%	1.98%	0.84%	0.72%	1.14%	0.88%	0.48%	0.69%	0.87%	2.93%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	1.02%	-	-	-	0.93%
Cost of Revenue to Revenue	43.74%	21.56%	98.96%	47.02%	32.07%	47.62%	37.95%	44.42%	36.01%	22.18%	36.27%
SG&A Expenses to Revenue	33.70%	17.85%	103.58%	56.92%	11.70%	46.62%	26.70%	62.46%	21.66%	14.64%	31.15%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.68%	18.84%	112.16%	60.99%	13.32%	51.07%	29.45%	67.09%	23.65%	15.83%	33.85%
Earnings before Interest and Taxes (EBIT)	0.63	6.51	-0.27	-0.24	4.13	1.45	2.55	-0.30	3.27	9.31	2.26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1.08	7.30	0.22	0.34	4.65	2.01	3.04	0.20	3.86	9.83	2.79
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.52	2.19	2.23	1.86	2.00	2.24	2.00	1.99	1.82	1.98	2.62
Price to Tangible Book Value (P/TBV)	2.52	2.19	2.23	1.86	2.00	2.24	2.00	1.99	1.82	1.98	2.62
Price to Revenue (P/Rev)	22.36	10.76	12.60	11.51	10.58	18.12	12.91	12.75	11.46	8.92	12.02
Price to Earnings (P/E)	84.34	25.73	30.61	31.33	25.36	56.26	36.42	36.74	36.94	22.08	25.96
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.19%	3.89%	3.27%	3.19%	3.94%	1.78%	2.75%	2.72%	2.71%	4.53%	3.85%
Enterprise Value to Invested Capital (EV/IC)	4.28	6.76	6.26	3.65	4.15	6.40	5.15	4.90	4.09	4.35	6.71
Enterprise Value to Revenue (EV/Rev)	17.61	6.86	8.29	7.33	6.95	12.85	9.01	8.97	7.74	6.29	9.42
Enterprise Value to EBITDA (EV/EBITDA)	36.80	12.85	15.73	15.09	12.28	25.98	16.73	21.98	21.93	11.15	17.18
Enterprise Value to EBIT (EV/EBIT)	53.31	15.54	19.81	20.35	15.17	37.04	21.29	30.10	31.80	12.82	19.85
Enterprise Value to NOPAT (EV/NOPAT)	50.15	20.65	31.07	33.73	24.33	119.76	41.73	42.93	44.61	19.87	30.04
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	9.04	7.34	5.80	5.82	0.00	0.00	44.10	0.00	81.69	30.07
Enterprise Value to Free Cash Flow (EV/FCFF)	6.08	12.00	2.33	2.02	8.05	0.00	0.00	26.31	44.00	0.00	337.43
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.01	0.04	0.04	0.04	0.03	0.06	0.06	0.06	0.06	0.05	0.05
Long-Term Debt to Equity	0.01	0.04	0.04	0.03	0.03	0.06	0.06	0.06	0.06	0.05	0.05
Financial Leverage	-0.37	-0.76	-0.45	-0.38	-0.61	-0.77	-0.75	-0.70	-0.69	-0.71	-0.71
Leverage Ratio	1.08	1.14	1.12	1.08	1.08	1.14	1.14	1.11	1.12	1.13	1.13
Compound Leverage Factor	1.84	1.30	-1.20	-1.26	1.16	0.97	1.25	-0.58	1.32	1.07	2.60
Debt to Total Capital	0.92%	3.44%	3.41%	3.38%	3.27%	5.53%	5.44%	5.42%	5.30%	5.04%	4.90%
Short-Term Debt to Total Capital	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.03%	0.03%	0.03%	0.05%	0.11%
Long-Term Debt to Total Capital	0.91%	3.43%	3.40%	3.37%	3.26%	5.50%	5.41%	5.39%	5.27%	4.99%	4.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.08%	96.56%	96.59%	96.62%	96.73%	94.47%	94.56%	94.58%	94.70%	94.96%	95.10%
Debt to EBITDA	0.17	0.33	0.38	0.44	0.32	0.96	0.69	0.90	1.00	0.43	0.43
Net Debt to EBITDA	-9.93	-7.30	-8.20	-8.59	-6.41	-10.65	-7.25	-9.25	-10.54	-4.67	-4.76
Long-Term Debt to EBITDA	0.17	0.33	0.38	0.44	0.32	0.95	0.69	0.89	0.99	0.42	0.42
Debt to NOPAT	0.24	0.53	0.75	0.99	0.63	4.42	1.72	1.75	2.03	0.76	0.75
Net Debt to NOPAT	-13.53	-11.73	-16.19	-19.21	-12.70	-49.12	-18.09	-18.06	-21.44	-8.33	-8.32
Long-Term Debt to NOPAT	0.23	0.52	0.75	0.99	0.63	4.40	1.71	1.74	2.02	0.75	0.74
Altman Z-Score	19.62	9.08	9.97	10.60	12.66	10.35	8.23	9.49	7.67	8.92	13.06
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.49	3.49	3.51	4.14	4.88	4.57	3.32	4.10	3.17	4.05	3.56
Quick Ratio	4.24	3.45	3.47	3.80	4.67	4.17	3.04	3.46	2.53	3.60	3.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	31	10	65	63	16	-5.87	-4.69	2.21	2.30	-6.45	-7.01
Operating Cash Flow to CapEx	0.00%	18,717.83%	-997.37%	-6,015.25%	6,032.10%	530.25%	0.00%	-481.05%	284.08%	6,132.65%	2,019.22%
Free Cash Flow to Firm to Interest Expense	1,009.88	265.99	1,301.32	1,330.48	299.32	-103.04	-43.44	19.95	21.07	-58.08	-64.34
Operating Cash Flow to Interest Expense	56.52	753.51	-15.16	-151.02	93.96	11.07	-11.37	-4.12	8.18	27.07	52.06
Operating Cash Flow Less CapEx to Interest Expense	119.35	749.49	-16.68	-153.53	92.40	8.98	-11.37	-4.97	5.30	26.63	49.48
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.11	0.19	0.16	0.15	0.18	0.11	0.14	0.14	0.15	0.20	0.20
Accounts Receivable Turnover	7.73	11.63	16.34	8.85	11.42	8.29	6.19	9.83	7.86	22.42	5.96
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.35	3.07
Fixed Asset Turnover	0.41	10.16	0.72	0.65	5.38	4.37	4.46	3.92	4.26	6.67	6.89
Accounts Payable Turnover	3.15	2.40	2.28	4.64	3.93	4.66	3.25	6.01	3.70	4.60	3.60
Days Sales Outstanding (DSO)	47.21	31.39	22.34	41.24	31.96	44.00	58.95	37.15	46.42	16.28	61.25
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	109.10	118.88
Days Payable Outstanding (DPO)	115.99	151.89	159.95	78.72	92.92	78.31	112.43	60.74	98.57	79.35	101.31
Cash Conversion Cycle (CCC)	-68.79	-120.49	-137.61	-37.48	-60.95	-34.31	-53.48	-23.59	-52.15	46.02	78.81
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	50	23	27	37	37	29	33	34	37	42	41
Invested Capital Turnover	0.19	0.88	0.34	0.27	0.51	0.55	0.63	0.53	0.53	0.81	0.79
Increase / (Decrease) in Invested Capital	-31	-5.51	-66	-63	-13	5.91	5.99	-2.49	-0.05	12	8.31
Enterprise Value (EV)	213	158	166	135	154	187	168	169	151	181	274
Market Capitalization	271	247	253	212	234	264	241	240	224	256	350
Book Value per Share	$4.48	$4.71	$4.75	$4.74	$4.87	$4.92	$4.99	$5.00	$5.11	$5.39	$5.55
Tangible Book Value per Share	$4.48	$4.71	$4.75	$4.74	$4.87	$4.92	$4.99	$5.00	$5.11	$5.39	$5.55
Total Capital	108	117	117	118	121	125	127	127	130	137	140
Total Debt	1.00	4.02	4.00	3.98	3.96	6.92	6.91	6.90	6.89	6.89	6.88
Total Long-Term Debt	0.99	4.01	3.99	3.97	3.95	6.89	6.87	6.87	6.86	6.82	6.72
Net Debt	-58	-90	-87	-77	-80	-77	-73	-71	-73	-76	-76
Capital Expenditures (CapEx)	-1.95	0.16	0.08	0.12	0.08	0.12	0.00	0.10	0.31	0.05	0.28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	13	-7.92	-7.99	-2.13	-2.16	-2.76	-1.55	-0.62	-0.93	6.46	1.42
Debt-free Net Working Capital (DFNWC)	19	27	24	20	24	23	20	20	20	29	20
Net Working Capital (NWC)	19	27	24	20	24	23	20	20	20	29	20
Net Nonoperating Expense (NNE)	-0.35	-0.71	-0.98	-0.35	-0.49	-1.02	-0.77	-0.39	-0.57	-0.77	-2.64
Net Nonoperating Obligations (NNO)	-58	-90	-87	-77	-80	-89	-88	-86	-86	-88	-93
Total Depreciation and Amortization (D&A)	0.44	0.79	0.49	0.58	0.52	0.56	0.49	0.51	0.59	0.52	0.53
Debt-free, Cash-free Net Working Capital to Revenue	109.15%	-34.43%	-39.83%	-11.55%	-9.78%	-18.90%	-8.34%	-3.27%	-4.74%	22.49%	4.88%
Debt-free Net Working Capital to Revenue	153.93%	117.26%	119.40%	110.54%	107.88%	159.43%	109.47%	106.06%	100.26%	99.41%	70.25%
Net Working Capital to Revenue	153.83%	117.22%	119.35%	110.48%	107.83%	159.22%	109.29%	105.88%	100.08%	99.19%	69.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.03	$0.24	$0.01	$0.01	$0.14	$0.04	$0.09	$0.00	$0.12	$0.27	$0.16
Adjusted Weighted Average Basic Shares Outstanding	23.97M	23.95M	23.99M	24.02M	24.05M	24.03M	24.08M	24.09M	24.09M	24.08M	24.07M
Adjusted Diluted Earnings per Share	$0.03	$0.24	$0.01	$0.01	$0.14	$0.03	$0.09	$0.00	$0.12	$0.27	$0.16
Adjusted Weighted Average Diluted Shares Outstanding	24.12M	24.16M	24.09M	24.14M	24.17M	24.11M	24.15M	24.15M	24.14M	24.14M	24.16M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	23.98M	23.84M	23.99M	24.05M	24.05M	24.09M	24.08M	24.09M	24.08M	24.07M	24.08M
Normalized Net Operating Profit after Tax (NOPAT)	0.48	4.86	-0.82	-0.16	2.80	0.04	1.29	-0.27	2.25	5.83	1.30
Normalized NOPAT Margin	15.13%	44.68%	-61.13%	-5.42%	40.72%	1.12%	24.03%	-8.54%	29.59%	46.43%	22.59%
Pre Tax Income Margin	33.98%	68.36%	21.57%	9.30%	64.24%	36.61%	52.02%	4.97%	50.66%	70.22%	90.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	20.45	166.92	-5.42	-5.13	79.38	25.35	23.61	-2.74	30.02	83.83	20.75
NOPAT to Interest Expense	15.56	124.63	-16.38	-3.46	53.87	0.66	11.98	-2.46	20.64	52.53	11.92
EBIT Less CapEx to Interest Expense	83.29	162.90	-6.94	-7.64	77.83	23.26	23.61	-3.59	27.14	83.39	18.17
NOPAT Less CapEx to Interest Expense	78.40	120.61	-17.90	-5.97	52.32	-1.43	11.98	-3.32	17.76	52.09	9.34
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.00%	0.00%	0.00%	5.00%	3.64%

Frequently Asked Questions About Pure Cycle's Financials

When does Pure Cycle's fiscal year end?

According to the most recent income statement we have on file, Pure Cycle's financial year ends in August. Their financial year 2024 ended on August 31, 2024.

How has Pure Cycle's net income changed over the last 2 years?

Pure Cycle's net income appears to be on an upward trend, with a most recent value of $11.61 million in 2024, rising from $9.62 million in 2022. The previous period was $4.70 million in 2023.

What is Pure Cycle's operating income?

Pure Cycle's total operating income in 2024 was $12.24 million, based on the following breakdown:

Total Gross Profit: $19.76 million
Total Operating Expenses: $7.52 million

How has Pure Cycle revenue changed over the last 2 years?

Over the last 2 years, Pure Cycle's total revenue changed from $23.00 million in 2022 to $28.75 million in 2024, a change of 25.0%.

How much debt does Pure Cycle have?

Pure Cycle's total liabilities were at $17.65 million at the end of 2024, a 17.8% increase from 2023, and a 8.7% increase since 2022.

How much cash does Pure Cycle have?

In the past 2 years, Pure Cycle's cash and equivalents has ranged from $22.11 million in 2024 to $34.89 million in 2022, and is currently $22.11 million as of their latest financial filing in 2024.

How has Pure Cycle's book value per share changed over the last 2 years?

Over the last 2 years, Pure Cycle's book value per share changed from 4.71 in 2022 to 5.39 in 2024, a change of 14.3%.

Related Companies

This page (NASDAQ:PCYO) was last updated on 4/18/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Pure Cycle (PCYO) Financials

Frequently Asked Questions About Pure Cycle's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Pure Cycle (PCYO) Financials

Annual Income Statements for Pure Cycle

Quarterly Income Statements for Pure Cycle

Annual Cash Flow Statements for Pure Cycle

Quarterly Cash Flow Statements for Pure Cycle

Annual Balance Sheets for Pure Cycle

Quarterly Balance Sheets for Pure Cycle

Annual Metrics and Ratios for Pure Cycle

Quarterly Metrics and Ratios for Pure Cycle

Frequently Asked Questions About Pure Cycle's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools