All three tenses have at least two readings, so the archetype blend applies as printed.
All nine metrics read as filed from the record.
What did they actually do?
Has it survived what it has been through?
5 warning events since 2017; the latest 2022-09-19.
From the record
Pure Cycle Corporation's filings since 2017 show 5 warning events of 2 kinds: an auditor change (8-K item 4.01, 4 times, the latest 2022-09-19); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2017-11-15) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
+56.9% a year over 10 filed years; profitable in 8 of 10.
From the record
Pure Cycle Corporation's 10 filed years say what it did: revenue went from $452 thousand in fiscal 2016 to $26 million in fiscal 2025, up 56.9% a year; it rose in 6 of 9 years; the deepest fall was 44% from fiscal 2020 to fiscal 2023; net income was positive in 8 of 10 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
Share count steady. 7% of cash flow returned. Insiders: 0 sales, 0 purchases.
From the record
Over the 3 fiscal years to 2025-08-31, Pure Cycle Corporation's diluted share count held steady, and dividends and buybacks returned about 7% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they doing right now?
Is it financially healthy right now?
ROE 9%: 9¢ of profit per shareholder dollar. Leverage 12%: owes 12¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-08-31, Pure Cycle Corporation earned about 9 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 10 cents per dollar of everything the company owns. Leverage: it owed about 12 cents per dollar of assets, and net share issuance: its share count grew 0.1% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
bottom 42% of 14 in its family; net margin 50.3%.
From the record
Pure Cycle Corporation's standing among 14 graded names in its industry family: revenue of $26 million in fiscal 2025 ranks in the bottom 19% by size; a net margin of 50.3% ranks in the top 4%; revenue growth of 4.3% a year over the last 3 filed years ranks in the bottom 11% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
top 50% of 13 in its family for leadership; chief executive since 2020.
From the record
Pure Cycle Corporation's leadership, from its insiders' filings and its current reports: the chief executive on the record is Harding, Mark W (CHIEF EXECUTIVE OFFICER, as filed), filing under that title since 2020-09-25, 6.1 years (top 50% of its family); the 11 officers and directors filing in the last fifteen months have been on the record a median of 4.8 years (bottom 42%); 5 officer or director changes were reported on Form 8-K since 2023-11-13, against the 11 people in charge now (top 42%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
top 13% of 14 in its family for room to expand.
From the record
Pure Cycle Corporation's room to grow, from the newest filed statements (fiscal 2025): cash of $22 million against debt of $7 million leaves 9.3% of its assets as net cash, top 11% of its family; cash from operations less capital spending is 50.5% of revenue (top 4%); a gross margin of 61.4% (top 25%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
bottom 34% of 14 in its family for growth drivers.
From the record
Pure Cycle Corporation's growth drivers, from the filed years to fiscal 2025: revenue grew 4.3% a year over the last three filed years against 56.9% over all 10, slowing (bottom 4% of its family); the newest year grew -9.3% (bottom 4%); capital spending grew 195.8% a year (top 4%) (its annual reports). Pure Cycle Corporation reported 7 product lines in fiscal 2025: Lot Sales at $14 million (53%), Water Tap Fees Recognized Excluding Waste Water Tap Fee at $6 million (23%), Water and Wastewater Activities at $3 million (12%), and 4 more; 3 of 7 grew against the year before (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
top 40% of 13 in its family for expectations against reality.
From the record
Pure Cycle Corporation's newest year against its own record: revenue of $26 million in fiscal 2025 came in 18.8% below the $32 million its prior three years' pace pointed to (bottom 19% of its family); net income of $13 million against a prior three-year average of $9 million (top 12%); a net margin of 50.3% against 38.1% before (top 27%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made