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Pure Cycle PCYO Land Development — Deferred Revenue

Other segment segments

Water And Wastewater Resource Development
$2K0.0%

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Other financials

Income statement

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Revenue$8.2M+60.0%
Gross profit$4.3M+31.6%
Operating income$2.1M+58.5%
Net income$2.9M+30.7%
EPS (diluted)$0.12+33.3%

Balance sheet

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Cash & equivalents$8.4M-41.4%
Total debt$14.1M+106%
Total equity$151.6M+10.9%
Total assets$176.0M+16.0%

Cash flow

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Operating cash flow-$4.2M
CapEx$74.0K
Free cash flow-$4.5M

Valuation

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Market cap$257.36M+5.4%
Enterprise value$263.04M+11.2%
P/E17.5×-0.5×
P/S7.6×-1.3×

Profitability

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Gross margin62%-4.4pp
Operating margin37.7%+3.0pp
Net margin43.7%-5.9pp
FCF margin-17.5%

Returns & leverage

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Return on equity10.2%-0.3pp
Debt / equity0.1×0.0×
Current ratio1.5×-2.0×

Where this comes from

Reported directly by Pure Cycle in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The official record: Pure Cycle’s 10-Q, filed July 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Pure Cycle's land development — deferred revenue?
Pure Cycle (PCYO) reported land development — deferred revenue of $2.75M in Q1 2026.
How has Pure Cycle's land development — deferred revenue changed year-over-year?
Pure Cycle's land development — deferred revenue increased by 179.6% year-over-year, from $984K to $2.75M.
What is the long-term trend for Pure Cycle's land development — deferred revenue?
Over 4 years (2021 to 2025), Pure Cycle's land development — deferred revenue has grown at a 8.5% compound annual growth rate (CAGR), from $5M to $6.92M.
What does land development — deferred revenue mean?
Represents the total obligation to transfer goods or services to a customer for which the company has received consideration or for which an amount of consideration is due. This liability reflects deferred revenue arising from land development contracts where performance obligations remain unsatisfied. It serves as a key indicator of future revenue potential within the land development segment.