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Upturn AI Summary - About
Pure Cycle Corporation(PCYO)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for PCYO
10/02/2026: PCYO (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Pure Cycle Corporation is a specialized land development and water utility company primarily operating in the Denver, Colorado area. Its strength lies in owning valuable, proprietary water rights and vast tracts of land, which allows it to control the development of master-planned communities like Sky Ranch. The main investment story centers on the multi-year monetization of these assets to meet growing residential housing demand. However, investors must monitor risks related to geographic concentration, real estate cycle sensitivity, and the execution of complex infrastructure projects. The company may suit value investors who appreciate tangible asset backing, though the lack of a dividend and cyclicality require a long-term perspective.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The company offers growth tied to real estate development but is subject to cyclical industry timing. |
| Momentum investor | Weak fit | The stock often exhibits long periods of consolidation rather than short-term high-velocity momentum. |
| Value investor | Strong fit | The underlying asset value of water rights and land holdings often exceeds current market capitalization. |
| Dividend investor | Weak fit | The company does not pay a dividend, making it unsuitable for income-focused portfolios. |
| Low-risk investor | Mixed fit | While assets are tangible and durable, the concentration risk and real estate sensitivity create volatility. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | Medium / high | Thin trading volumes and real estate cycle sensitivity can lead to sharp price fluctuations. |
| Valuation risk | Medium | The complexity of valuing water rights and future land sales makes traditional valuation methods challenging. |
| Competition risk (Housing and Utility) | Medium | Competition from large, well-capitalized national homebuilders can squeeze lot margins. |
| Business quality | Medium | The business relies on successful execution of complex, multi-year infrastructure and land development projects. |
| Dividend income | Low / none | Income seekers will find no support as the company reinvests all cash into growth. |
| Execution risk | Medium | Delays in development timelines or regulatory approval can significantly impact cash flow timing. |
Price Behavior
Flat / Range-Bound
The stock price has been trading within a narrow range with minimal directional movement.
Smooth
The stock has moved along a generally orderly path with only modest fluctuations.
Analysis of Past Performance
Type Stock | Historic Profit -20.96% | Avg. Invested days 42 | Today’s Advisory WEAK BUY |
Upturn Advisory Rating  | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 10/02/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 262.42M USD | Price to earnings Ratio 17.85 | 1Y Target Price 6.55 |
Price to earnings Ratio 17.85 | 1Y Target Price 6.55 | ||
Volume (30-day avg) 87.8K shares | Beta 1.23 | 52 Weeks Range 9.71 - 12.44 | Updated Date 10/01/2026 |
52 Weeks Range 9.71 - 12.44 | Updated Date 10/01/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.61 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Land Sales | Sale of developed residential lots to third-party homebuilders at Sky Ranch. | Revenue comes from selling 'shovel-ready' land to homebuilders. |
| Utility Services | Water and wastewater billing to residents and businesses. | Stable, recurring revenue from water and sewer utility fees. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Valuation
Trailing PE 17.85 | Forward PE 56.5 | Enterprise Value 270.87M | Price to Sales(TTM) 7.78 |
Enterprise Value 270.87M | Price to Sales(TTM) 7.78 | ||
Enterprise Value to Revenue 8.03 | Enterprise Value to EBITDA 12.98 | Shares Outstanding 24.10M | Shares Floating 18.71M |
Shares Outstanding 24.10M | Shares Floating 18.71M | ||
Percent Insiders 4.88 | Percent Institutions 74.73 |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
About Pure Cycle Corporation
Exchange NASDAQ | Headquarters Watkins, CO, United States | ||
IPO Launch date 1997-01-02 | President, CEO, Principal Executive Officer & Director Mr. Mark W. Harding | ||
Sector Utilities | Industry Utilities - Regulated Water | Full time employees 44 | Website https://www.purecyclewater.com |
Full time employees 44 | Website https://www.purecyclewater.com | ||
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.
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