Pure Cycle (PCYO) Operating Margin (2010 - 2026)
Pure Cycle (PCYO) posted quarterly Operating Margin of 25.71% for Q2 2026, down 24.0% year-over-year from 33.83% in Q2 2025, and up 405.33% quarter-over-quarter from 5.09% in Q1 2026.
Pure Cycle (PCYO) Operating Margin (2010 - 2026) Analysis & Trends
Pure Cycle (PCYO) has reported Operating Margin for 17 consecutive years, with 25.71% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin fell 24.0% year-over-year to 25.71%; the TTM figure through May 2026 stood at 37.67% (up 301.0% YoY), while the FY2025 annual figure was 29.4%, down 1318.0% from the prior year.
- Operating Margin rose to 25.71% in Q2 2026 per PCYO's latest filing, from 5.09% in the prior quarter.
- Across five years, Operating Margin topped out at 61.99% in Q3 2024 and bottomed at 111.12% in Q4 2022.
- Historically, Operating Margin has averaged 18.12% across 5 years, with a median of 27.93% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin slumped 14576 bps — and 2023, when it jumped 14372 bps.
- Pure Cycle's Operating Margin stood at 111.12% in 2022, then soared by 129 bps to 32.6% in 2023, then declined by 8 bps to 29.9% in 2024, then soared by 60 bps to 47.98% in 2025, then plunged by 46 bps to 25.71% in 2026.
- Business Quant data shows PCYO's Operating Margin at 25.71% in Q2 2026, 5.09% in Q1 2026, and 47.98% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | American Water Works Company | 26.66 Bn | 26.47 Bn | - | 40.00% |
| 2 | Essential Utilities | 11.36 Bn | 11.35 Bn | - | 36.41% |
| 3 | American States Water | 3.38 Bn | 3.36 Bn | 278.03 Mn | 14.81% |
| 4 | California Water Service | 3.02 Bn | 2.93 Bn | 263.45 Mn | 22.97% |
| 5 | H2O America | 2.60 Bn | 2.49 Bn | 197.11 Mn | 20.31% |
| 6 | Middlesex Water | 1.09 Bn | 1.09 Bn | - | 32.35% |
| 7 | Consolidated Water | 517.12 Mn | 390.79 Mn | 10.92 Mn | 11.48% |
| 8 | York Water | 517.01 Mn | 516.45 Mn | - | 41.71% |
| 9 | Artesian Resources | 362.21 Mn | 357.96 Mn | 26.56 Mn | 22.60% |
| 10 | Pure Cycle | 274.66 Mn | 266.22 Mn | 4.29 Mn | 25.71% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 25.71% |
| Feb 28, 2026 | 5.09% |
| Nov 30, 2025 | 47.98% |
| Aug 31, 2025 | 53.07% |
| May 31, 2025 | 25.95% |
| Feb 28, 2025 | -33.22% |
| Nov 30, 2024 | 29.90% |
| Aug 31, 2024 | 61.99% |
| May 31, 2024 | 40.35% |
| Feb 29, 2024 | -11.51% |
| Nov 30, 2023 | 32.60% |
| Aug 31, 2023 | 1.31% |
| May 31, 2023 | 54.62% |
| Feb 28, 2023 | -8.00% |
| Nov 30, 2022 | -111.12% |
| Aug 31, 2022 | 59.60% |
| May 31, 2022 | 19.58% |
| Feb 28, 2022 | 32.33% |
| Nov 30, 2021 | 34.64% |
| Aug 31, 2021 | 39.80% |