PURE CYCLE CORP
PCYONasdaqUtilities · Water Supply · CO · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $26.1M | $28.7M | $14.6M | $23.0M | $17.1M | $25.9M |
| Operating income | $7.7M | $12.2M | $2.1M | $10.1M | $5.3M | $1.5M |
| Net income | $13.1M | $11.6M | $4.7M | $9.6M | $20.1M | $6.8M |
| Total assets | $162.3M | $147.4M | $133.2M | $129.2M | $117.2M | $89.8M |
| Total liabilities | $19.5M | $17.7M | $15.0M | $16.2M | $14.4M | $7.7M |
| Equity | $142.7M | $129.7M | $118.2M | $113.0M | $102.7M | $82.0M |
| EPS (diluted) | $0.54 | $0.48 | $0.19 | $0.40 | $0.83 | $0.28 |
| Shares out. | 24.1M | 24.1M | 24.1M | 23.8M | 23.9M | 23.9M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- 29.4%
- Net margin
- 50.3%
- Return on equity
- 9.2%
- Return on assets
- 8.1%
- Return on capital (ROCE)
- 5.1%
- Liabilities / assets
- 12.0%
- Debt / equity
- 0.14×
- Book value / share
- $5.93
- Revenue growth (YoY)
- −9.3%
- Net income growth (YoY)
- 12.9%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 8.14safe
- Accruals / assets
- −0.0%clean
- Piotroski F-Score
- 4/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 severe● 1 warning● 5 good- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Revenue declined year-over-year
- Operating margin is positive
- Conservative leverage (liabilities < 50% of assets)
- Positive operating cash flow
- Clean earnings (low accruals)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Kmissed a reporting deadline ↗Nov 15, 2017
- NT 10-Qmissed a reporting deadline ↗Apr 9, 2007
- NT 10-Qmissed a reporting deadline ↗Jan 9, 2007
- NT 10-Kmissed a reporting deadline ↗Nov 15, 2006
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Maran Capital Management, LlcActivist (13D)Jan 16, 2026
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Kozlowski Daniel RDirector | Jan 14, 2026 | Grant | 2,653 | $0.00 |
| Abel Wanda JDirector | Jan 14, 2026 | Grant | 2,653 | $0.00 |
| Roller Daniel JDirector | Jan 14, 2026 | Grant | 2,653 | $0.00 |
| Heitmann Susan DianeDirector | Jan 14, 2026 | Grant | 2,653 | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 350,937 | 8.1 | -0.3% |
| Apr 30, 2026 | 351,912 | 8.6 | -4.2% |
| Apr 15, 2026 | 367,185 | 4.9 | +2.2% |
| Mar 31, 2026 | 359,219 | 5.3 | +7.0% |
| Mar 13, 2026 | 335,614 | 7.2 | +13.5% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Director / officer changeMay 26, 2026
- Results of operations · Regulation FD disclosureApr 9, 2026
- Entered a material agreement · Director / officer change · Shareholder vote · Regulation FD disclosureJan 16, 2026
- Results of operations · Regulation FD disclosureJan 8, 2026
- Results of operations · Regulation FD disclosureNov 13, 2025
- Results of operations · Regulation FD disclosureJul 10, 2025
- Results of operations · Regulation FD disclosureApr 10, 2025
- Shareholder voteJan 17, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.