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PCYO

Pure Cycle Corporation

Utilities · $264M market cap

Verdict

Share price

$10.90

close of Oct 3, 2026

Fair value

$8.36

Sticker Price

Payback Price

$3.34

buy price

Overpriced

PCYO is Overpriced: at $10.90 it trades 30% above its fair value of $8.36. Its buy price (Payback Price) is $3.34, 69% below today's price. Business quality is mixed: 2 of 5 key numbers clear the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

2 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth14.3% a year✓
Equity per share growth5.2% a year✗
Sales growth22.5% a year✓
Free cash flow growth-11.8% a year✗
Return on invested capital3.9%✗

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About Pure Cycle Corporation

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…

Regulated Water

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works