Pure CyclePCYO +3.08%72 Piotroski F-Score is 4 as of Jun. 25, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates PCYO with a GF Score™ of 72/100 and a GF Value™ of $14.11 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 490 Utilities - Regulated companies, Pure Cycle ranks worse than 77.35% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Pure Cycle has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Pure Cycle's Piotroski F-Score or its related term are showing as below:
PCYO'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 7
Current: 4
During the past 13 years, the highest Piotroski F-Score of Pure Cycle was 7. The lowest was 1. And the median was 5.
Pure Cycle (NAS:PCYO) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Pure Cycle Piotroski F-Score Related Terms
Pure Cycle Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Pure Cycle's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
PCYO vs GWRS, ARTNA, CDZI: Piotroski F-Score Comparison
For the Utilities - Regulated Water subindustry, Pure Cycle's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Pure Cycle Piotroski F-Score vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Pure Cycle's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Pure Cycle's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Pure Cycle's current Net Income (TTM) was 14.03.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Pure Cycle's return on assets of this year was 0.09377506. Pure Cycle's return on assets of last year was 0.10483191.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Pure Cycle's gearing of this year was 0.0405697. Pure Cycle's gearing of last year was 0.04616324.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Pure Cycle's current ratio of this year was 1.38663172. Pure Cycle's current ratio of last year was 3.7591922.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Pure Cycle's number of shares in issue this year was 24.172. Pure Cycle's number of shares in issue last year was 24.196.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Pure Cycle's gross margin of this year was 0.64847931. Pure Cycle's gross margin of last year was 0.66310053.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Pure Cycle's asset turnover of this year was 0.20476292. Pure Cycle's asset turnover of last year was 0.22119267.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
0
+
0
+
1
+
0
+
1
+
0
+
0
=
4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Pure Cycle has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Pure Cycle (PCYO) has a Piotroski F-Score of 4 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Pure Cycle and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, Pure Cycle's Piotroski F-Score has ranged from 1.00 to 7.00. According to the industry distribution chart, Pure Cycle ranks #379 out of 490 companies in the Utilities - Regulated industry, placing it in the top 77.3%.
Is Pure Cycle's Piotroski F-Score too high?
Pure Cycle's current Piotroski F-Score of 4 is 20% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 7.00. The Utilities - Regulated industry median Piotroski F-Score is 6.00. Pure Cycle's value of 4 is 33.3% below this industry median. Based on the distribution chart, Pure Cycle ranks #379 out of 490 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Pure Cycle has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pure Cycle's Piotroski F-Score compare to GWRS and ARTNA?
According to the Utilities - Regulated industry distribution chart, Pure Cycle ranks #379 out of 490 companies for Piotroski F-Score. This places Pure Cycle in the lower half of its industry. The industry median Piotroski F-Score is 6.00. Pure Cycle's value of 4 is 33.3% below this benchmark. Historically, Pure Cycle's own Piotroski F-Score has ranged from 1.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, Pure Cycle has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for an Utilities - Regulated company?
The median Piotroski F-Score among Utilities - Regulated companies is 6.00, based on 490 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Pure Cycle's current Piotroski F-Score of 4 is 33.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Pure Cycle and its competitors. For the Utilities - Regulated industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pure Cycle's current Piotroski F-Score is 4, which is 20% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pure Cycle stock overvalued right now?
Based on GuruFocus' analysis, Pure Cycle (PCYO) is currently considered Modestly Undervalued. The stock's GF Value™ is $14.11, compared to a current price of $11.37 — trading 19.4% below its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 33.3% below the Utilities - Regulated industry median of 6.00. Pure Cycle's overall GF Score™ is 72/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Pure Cycle (PCYO), the current Piotroski F-Score is 4 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Pure Cycle (PCYO) Overvalued in 2026?
Based on GuruFocus' analysis, Pure Cycle stock appears to be undervalued.
The current stock price of $11.37 is trading 19.4% below its estimated GF Value™ of $14.11.
GuruFocus considers Pure Cycle to be Modestly Undervalued.
Key valuation signals for PCYO:
Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
GF Value™: $14.11 vs. price of $11.37 (19.4% below fair value)
Industry Position: 33.3% below the Utilities - Regulated median (#379 of 490)
No single metric tells the full story. See the PCYO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pure Cycle Corp is a diversified land and water resource development company. The company designs, constructs, manages, operates, and maintains water and wastewater systems. The firm operates in three business segments namely Water and wastewater resource development, Land development, and the Single-Family Rental Segment. It generates maximum revenue from the Land development segment. The land resource development segment includes all the activities necessary to develop and sell finished lots.
72GF Score
Get the complete analysis for PCYO
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PCYO has been successfully added to your 
