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Side-by-side financial comparison of CADIZ INC (CDZI) and PURE CYCLE CORP (PCYO). Click either name above to swap in a different company.
PURE CYCLE CORP is the larger business by last-quarter revenue ($9.1M vs $5.1M, roughly 1.8× CADIZ INC). On growth, PURE CYCLE CORP posted the faster year-over-year revenue change (58.8% vs 7.0%). Over the past eight quarters, CADIZ INC's revenue compounded faster (113.0% CAGR vs 69.0%).
Cadiz Inc is a U.S.-based natural resources and sustainable development company focused on managing water resources, agricultural land, and renewable energy projects. It operates primarily in California, serving municipal, agricultural, and commercial clients with reliable water supply solutions and land stewardship services.
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.
CDZI vs PCYO — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $5.1M | $9.1M |
| Net Profit | — | $4.6M |
| Gross Margin | 33.0% | 68.4% |
| Operating Margin | -145.4% | 48.0% |
| Net Margin | — | 50.0% |
| Revenue YoY | 7.0% | 58.8% |
| Net Profit YoY | — | 16.0% |
| EPS (diluted) | — | $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 | $5.1M | $9.1M | ||
| Q3 25 | $4.1M | $11.2M | ||
| Q2 25 | $4.1M | $5.1M | ||
| Q1 25 | $3.0M | $4.0M | ||
| Q4 24 | $4.8M | $5.8M | ||
| Q3 24 | $3.2M | $12.6M | ||
| Q2 24 | $513.0K | $7.6M | ||
| Q1 24 | $1.1M | $3.2M |
| Q4 25 | — | $4.6M | ||
| Q3 25 | $-7.1M | $6.1M | ||
| Q2 25 | $-7.7M | $2.3M | ||
| Q1 25 | $-9.6M | $809.0K | ||
| Q4 24 | — | $3.9M | ||
| Q3 24 | $-6.8M | $6.6M | ||
| Q2 24 | $-8.9M | $2.8M | ||
| Q1 24 | $-6.8M | $118.0K |
| Q4 25 | 33.0% | 68.4% | ||
| Q3 25 | 27.3% | 67.7% | ||
| Q2 25 | 35.4% | 63.4% | ||
| Q1 25 | 29.7% | 38.2% | ||
| Q4 24 | 36.1% | 63.8% | ||
| Q3 24 | 25.3% | 77.8% | ||
| Q2 24 | -66.1% | 64.0% | ||
| Q1 24 | 10.4% | 55.6% |
| Q4 25 | -145.4% | 48.0% | ||
| Q3 25 | -118.0% | 53.1% | ||
| Q2 25 | -140.0% | 26.0% | ||
| Q1 25 | -255.0% | -33.2% | ||
| Q4 24 | -139.5% | 29.9% | ||
| Q3 24 | -147.9% | 62.0% | ||
| Q2 24 | -1354.6% | 40.3% | ||
| Q1 24 | -437.8% | -11.5% |
| Q4 25 | — | 50.0% | ||
| Q3 25 | -170.5% | 54.5% | ||
| Q2 25 | -187.3% | 43.9% | ||
| Q1 25 | -324.7% | 20.3% | ||
| Q4 24 | — | 68.4% | ||
| Q3 24 | -210.7% | 52.6% | ||
| Q2 24 | -1729.4% | 37.2% | ||
| Q1 24 | -611.1% | 3.7% |
| Q4 25 | — | $0.19 | ||
| Q3 25 | — | $0.26 | ||
| Q2 25 | — | $0.09 | ||
| Q1 25 | — | $0.03 | ||
| Q4 24 | — | $0.16 | ||
| Q3 24 | — | $0.27 | ||
| Q2 24 | — | $0.12 | ||
| Q1 24 | — | $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 | $8.6M | $17.1M |
| Total DebtLower is stronger | $72.7M | $8.0M |
| Stockholders' EquityBook value | $23.3M | $147.5M |
| Total Assets | $140.9M | $168.1M |
| Debt / EquityLower = less leverage | 3.13× | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.6M | $17.1M | ||
| Q3 25 | $4.4M | $21.9M | ||
| Q2 25 | $13.2M | $14.4M | ||
| Q1 25 | $21.6M | $16.5M | ||
| Q4 24 | $17.3M | $19.0M | ||
| Q3 24 | $3.3M | $22.1M | ||
| Q2 24 | $10.1M | $20.5M | ||
| Q1 24 | $19.2M | $20.6M |
| Q4 25 | $72.7M | $8.0M | ||
| Q3 25 | — | $6.8M | ||
| Q2 25 | — | $6.9M | ||
| Q1 25 | — | $6.9M | ||
| Q4 24 | $56.7M | $6.9M | ||
| Q3 24 | — | $6.9M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $23.3M | $147.5M | ||
| Q3 25 | $27.7M | $142.7M | ||
| Q2 25 | $35.6M | $136.7M | ||
| Q1 25 | $44.0M | $134.4M | ||
| Q4 24 | $34.0M | $133.6M | ||
| Q3 24 | $20.7M | $129.7M | ||
| Q2 24 | $27.6M | $123.2M | ||
| Q1 24 | $36.6M | $120.4M |
| Q4 25 | $140.9M | $168.1M | ||
| Q3 25 | $128.0M | $162.3M | ||
| Q2 25 | $136.4M | $151.7M | ||
| Q1 25 | $145.6M | $149.7M | ||
| Q4 24 | $134.5M | $149.7M | ||
| Q3 24 | $112.6M | $147.4M | ||
| Q2 24 | $118.1M | $140.4M | ||
| Q1 24 | $118.1M | $135.2M |
| Q4 25 | 3.13× | 0.05× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.05× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | 1.67× | 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 | $-6.9M | $-979.0K |
| Free Cash FlowOCF − Capex | $-8.2M | — |
| FCF MarginFCF / Revenue | -162.2% | — |
| Capex IntensityCapex / Revenue | 26.1% | — |
| Cash ConversionOCF / Net Profit | — | -0.21× |
| TTM Free Cash FlowTrailing 4 quarters | $-26.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.9M | $-979.0K | ||
| Q3 25 | $-7.0M | $9.4M | ||
| Q2 25 | $-1.4M | $-503.0K | ||
| Q1 25 | $-3.6M | $-1.4M | ||
| Q4 24 | $-6.2M | $5.7M | ||
| Q3 24 | $-5.4M | $3.1M | ||
| Q2 24 | $-7.1M | $892.0K | ||
| Q1 24 | $-2.9M | $-457.0K |
| Q4 25 | $-8.2M | — | ||
| Q3 25 | $-7.5M | — | ||
| Q2 25 | $-5.9M | — | ||
| Q1 25 | $-4.9M | — | ||
| Q4 24 | $-6.6M | — | ||
| Q3 24 | $-5.4M | — | ||
| Q2 24 | $-7.3M | — | ||
| Q1 24 | $-3.1M | — |
| Q4 25 | -162.2% | — | ||
| Q3 25 | -179.8% | — | ||
| Q2 25 | -142.2% | — | ||
| Q1 25 | -167.0% | — | ||
| Q4 24 | -139.4% | — | ||
| Q3 24 | -168.8% | — | ||
| Q2 24 | -1431.6% | — | ||
| Q1 24 | -272.9% | — |
| Q4 25 | 26.1% | — | ||
| Q3 25 | 10.8% | — | ||
| Q2 25 | 109.3% | — | ||
| Q1 25 | 43.6% | — | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 54.8% | — | ||
| Q1 24 | 16.6% | — |
| Q4 25 | — | -0.21× | ||
| Q3 25 | — | 1.53× | ||
| Q2 25 | — | -0.22× | ||
| Q1 25 | — | -1.70× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | -3.87× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDZI
Segment breakdown not available.
PCYO
| Construction | $6.5M | 71% |
| Water And Wastewater Resource Development Segment | $2.5M | 27% |
