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Side-by-side financial comparison of ALPHA PRO TECH LTD (APT) and PURE CYCLE CORP (PCYO). Click either name above to swap in a different company.
ALPHA PRO TECH LTD is the larger business by last-quarter revenue ($13.9M vs $9.1M, roughly 1.5× PURE CYCLE CORP). PURE CYCLE CORP runs the higher net margin — 50.0% vs 5.0%, a 44.9% gap on every dollar of revenue. On growth, PURE CYCLE CORP posted the faster year-over-year revenue change (58.8% vs 0.3%). Over the past eight quarters, PURE CYCLE CORP's revenue compounded faster (69.0% CAGR vs 1.4%).
Alpha Pro Tech Ltd is a leading developer, manufacturer and marketer of disposable protective apparel, face masks, and building supply products including weather-resistant barriers. It primarily serves the healthcare, industrial, and construction sectors, with core operating markets concentrated in North America.
Pure Cycles, is a bicycle company based in Los Angeles, California that was founded by Michael Fishman, Jordan Schau, Zachary Schau and Austin Stoffers in 2010, as Pure Fix Cycles.
APT vs PCYO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $13.9M | $9.1M |
| Net Profit | $698.0K | $4.6M |
| Gross Margin | 37.1% | 68.4% |
| Operating Margin | 6.9% | 48.0% |
| Net Margin | 5.0% | 50.0% |
| Revenue YoY | 0.3% | 58.8% |
| Net Profit YoY | -17.6% | 16.0% |
| EPS (diluted) | $0.06 | $0.19 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $13.9M | $9.1M | ||
| Q3 25 | $14.8M | $11.2M | ||
| Q2 25 | $16.7M | $5.1M | ||
| Q1 25 | $13.8M | $4.0M | ||
| Q4 24 | $13.8M | $5.8M | ||
| Q3 24 | $14.3M | $12.6M | ||
| Q2 24 | $16.3M | $7.6M | ||
| Q1 24 | $13.5M | $3.2M |
| Q4 25 | $698.0K | $4.6M | ||
| Q3 25 | $976.0K | $6.1M | ||
| Q2 25 | $1.2M | $2.3M | ||
| Q1 25 | $613.0K | $809.0K | ||
| Q4 24 | $847.0K | $3.9M | ||
| Q3 24 | $862.0K | $6.6M | ||
| Q2 24 | $1.6M | $2.8M | ||
| Q1 24 | $576.0K | $118.0K |
| Q4 25 | 37.1% | 68.4% | ||
| Q3 25 | 39.7% | 67.7% | ||
| Q2 25 | 36.8% | 63.4% | ||
| Q1 25 | 39.0% | 38.2% | ||
| Q4 24 | 37.6% | 63.8% | ||
| Q3 24 | 38.5% | 77.8% | ||
| Q2 24 | 42.0% | 64.0% | ||
| Q1 24 | 40.2% | 55.6% |
| Q4 25 | 6.9% | 48.0% | ||
| Q3 25 | 7.4% | 53.1% | ||
| Q2 25 | 8.0% | 26.0% | ||
| Q1 25 | 3.3% | -33.2% | ||
| Q4 24 | 4.9% | 29.9% | ||
| Q3 24 | 5.2% | 62.0% | ||
| Q2 24 | 10.5% | 40.3% | ||
| Q1 24 | 2.4% | -11.5% |
| Q4 25 | 5.0% | 50.0% | ||
| Q3 25 | 6.6% | 54.5% | ||
| Q2 25 | 7.5% | 43.9% | ||
| Q1 25 | 4.4% | 20.3% | ||
| Q4 24 | 6.1% | 68.4% | ||
| Q3 24 | 6.0% | 52.6% | ||
| Q2 24 | 10.1% | 37.2% | ||
| Q1 24 | 4.3% | 3.7% |
| Q4 25 | $0.06 | $0.19 | ||
| Q3 25 | $0.09 | $0.26 | ||
| Q2 25 | $0.12 | $0.09 | ||
| Q1 25 | $0.06 | $0.03 | ||
| Q4 24 | $0.07 | $0.16 | ||
| Q3 24 | $0.08 | $0.27 | ||
| Q2 24 | $0.15 | $0.12 | ||
| Q1 24 | $0.05 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $17.0M | $17.1M |
| Total DebtLower is stronger | — | $8.0M |
| Stockholders' EquityBook value | $62.5M | $147.5M |
| Total Assets | $74.1M | $168.1M |
| Debt / EquityLower = less leverage | — | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.0M | $17.1M | ||
| Q3 25 | $17.7M | $21.9M | ||
| Q2 25 | $14.5M | $14.4M | ||
| Q1 25 | $13.4M | $16.5M | ||
| Q4 24 | $18.6M | $19.0M | ||
| Q3 24 | $18.4M | $22.1M | ||
| Q2 24 | $16.2M | $20.5M | ||
| Q1 24 | $18.5M | $20.6M |
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $6.8M | ||
| Q2 25 | — | $6.9M | ||
| Q1 25 | — | $6.9M | ||
| Q4 24 | — | $6.9M | ||
| Q3 24 | — | $6.9M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $62.5M | $147.5M | ||
| Q3 25 | $62.5M | $142.7M | ||
| Q2 25 | $62.2M | $136.7M | ||
| Q1 25 | $61.7M | $134.4M | ||
| Q4 24 | $62.2M | $133.6M | ||
| Q3 24 | $62.1M | $129.7M | ||
| Q2 24 | $62.0M | $123.2M | ||
| Q1 24 | $61.6M | $120.4M |
| Q4 25 | $74.1M | $168.1M | ||
| Q3 25 | $73.9M | $162.3M | ||
| Q2 25 | $73.2M | $151.7M | ||
| Q1 25 | $72.2M | $149.7M | ||
| Q4 24 | $73.7M | $149.7M | ||
| Q3 24 | $73.3M | $147.4M | ||
| Q2 24 | $72.7M | $140.4M | ||
| Q1 24 | $72.7M | $135.2M |
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.05× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.05× | ||
| Q3 24 | — | 0.05× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $318.0K | $-979.0K |
| Free Cash FlowOCF − Capex | $51.0K | — |
| FCF MarginFCF / Revenue | 0.4% | — |
| Capex IntensityCapex / Revenue | 1.9% | — |
| Cash ConversionOCF / Net Profit | 0.46× | -0.21× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.0K | $-979.0K | ||
| Q3 25 | $3.9M | $9.4M | ||
| Q2 25 | $2.1M | $-503.0K | ||
| Q1 25 | $-4.0M | $-1.4M | ||
| Q4 24 | $2.4M | $5.7M | ||
| Q3 24 | $5.3M | $3.1M | ||
| Q2 24 | $-873.0K | $892.0K | ||
| Q1 24 | $-1.2M | $-457.0K |
| Q4 25 | $51.0K | — | ||
| Q3 25 | $3.8M | — | ||
| Q2 25 | $1.9M | — | ||
| Q1 25 | $-4.1M | — | ||
| Q4 24 | $970.0K | — | ||
| Q3 24 | $3.2M | — | ||
| Q2 24 | $-1.0M | — | ||
| Q1 24 | $-1.3M | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 25.9% | — | ||
| Q2 25 | 11.7% | — | ||
| Q1 25 | -29.6% | — | ||
| Q4 24 | 7.0% | — | ||
| Q3 24 | 22.3% | — | ||
| Q2 24 | -6.2% | — | ||
| Q1 24 | -9.3% | — |
| Q4 25 | 1.9% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 15.1% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 0.6% | — |
| Q4 25 | 0.46× | -0.21× | ||
| Q3 25 | 4.02× | 1.53× | ||
| Q2 25 | 1.68× | -0.22× | ||
| Q1 25 | -6.46× | -1.70× | ||
| Q4 24 | 2.85× | 1.44× | ||
| Q3 24 | 6.18× | 0.47× | ||
| Q2 24 | -0.53× | 0.32× | ||
| Q1 24 | -2.03× | -3.87× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APT
| Other | $7.3M | 53% |
| Disposable Protective Apparel | $6.6M | 47% |
PCYO
| Construction | $6.5M | 71% |
| Water And Wastewater Resource Development Segment | $2.5M | 27% |
