PCYO FINANCIAL STATEMENTS

Pure Cycle Corporation — balance sheet, income statement and cash flow trends

PCYOPure Cycle Corporation

🇺🇸 USA · NASDAQ · Utilities · Utilities - Regulated Water

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue30.6 M $+2.5%

Gross Profit18.5 M $-6.3%

Operating Income11.9 M $+6.0%

EBITDA21.4 M $-0.8%

Net Income14 M $-1.0%

Peer Comparison· Utilities - Regulated Water

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
PCYO	2.5%	60.2%	70.0%	45.8%
UU	22.0%	48.6%	61.1%	22.4%
SVT	16.7%	30.4%	50.8%	13.1%
Industry median	5.7%	43.6%	48.4%	20.3%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
PCYO	2.5%	60.2%	70.0%	45.8%
GWRS	5.7%	57.9%	44.0%	3.5%
CDZI	31.0%	31.3%	-146.3%	-221.3%
ARTNA	5.1%	40.3%	47.0%	20.3%
YORW	-97.9%	-1,234.6%	2,091.8%	1,312.4%
CWCO	0.3%	36.5%	19.4%	13.5%
Industry median	5.7%	43.6%	48.4%	20.3%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity148.7 M $89%
Current Liabilities9.9 M $6%
Long-term Liabilities8 M $5%

Key Figures

YoY change

Total Assets166.6 M $+11.3%

Total Liabilities17.9 M $+17.7%

Total Equity148.7 M $+10.6%

Cash & ST Investments4.8 M $-71.3%

Total Debt8 M $+13.8%

Net Debt3.2 M $—

Peer Comparison· Utilities - Regulated Water

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
PCYO	1.39	5.4%	0.15	89.2%
UU	2.55	512.7%	6.06	12.4%
SVT	1.39	596.6%	7.08	10.5%
Industry median	1.01	98.0%	4.85	31.3%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
PCYO	1.39	5.4%	0.15	89.2%
GWRS	0.68	165.1%	5.52	17.4%
CDZI	1.88	753.0%	-4.61	10.7%
ARTNA	1.01	73.7%	3.37	29.2%
YORW	0.72	98.0%	7.01	35.1%
CWCO	6.04	1.2%	-4.96	85.9%
Industry median	1.01	98.0%	4.85	31.3%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow3.8 M $-53.8%

Capital Expenditures3.9 M $-48.4%

Free Cash Flow-111 K $-115.4%

Dividends Paid——

Peer Comparison· Utilities - Regulated Water

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
PCYO	12.2%	-0.4%	12.6%	26.7%
UU	52.8%	-4.2%	57.0%	235.5%
SVT	32.6%	-34.3%	67.0%	249.1%
Industry median	32.6%	-19.9%	57.0%	184.5%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
PCYO	12.2%	-0.4%	12.6%	26.7%
GWRS	30.3%	-72.8%	103.2%	858.3%
CDZI	-138.7%	-182.3%	43.6%	62.7%
ARTNA	33.1%	-1.2%	80.0%	163.1%
YORW	1,806.1%	-2,493.9%	4,300.1%	137.6%
CWCO	28.4%	21.7%	6.7%	210.7%
Industry median	32.6%	-19.9%	57.0%	184.5%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.