Here are the 10-K annual reports from Pure Cycle Corporation (PCYO) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow PCYO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PCYO filings page.
Pure Cycle Corporation (PCYO) filed its 2025 Form 10‑K, detailing three operating segments: water and wastewater services, land development, and single‑family rentals. The company reports 1,169 finished lots delivered at Sky Ranch, with 204 lots under construction for fiscal 2026 and 148 lots planned for fiscal 2027. It has 14 rental homes operating and expects five rental townhomes online by the end of calendar 2025.
Water assets total 30,602 acre‑feet across groundwater, designated groundwater, and surface water, with service through the Rangeview Metropolitan District. As of August 31, 2025, the system served more than 1,600 SFE water and 1,153 SFE wastewater connections. Tap fees are listed at $34,200 per SFE for water and $8,240 for wastewater.
The company advanced the Sky Ranch Community Authority Board $85.6 million for reimbursable public improvements accruing 6% interest. In oil and gas royalties, it received $6.7 million in 2025. A Water Court decision denied a new 1,635 acre‑feet right and certain reservoir changes; existing rights were not affected. Non‑affiliate market value was $200,552,430, with 24,080,605 shares outstanding as of November 10, 2025.