Aureus Greenway (PUSA)
Market Price (6/2/2026): $6.41 | Market Cap: $89.0 MilSector: Consumer Discretionary | Industry: Leisure Facilities
Aureus Greenway (PUSA)
Market Price (6/2/2026): $6.41Market Cap: $89.0 MilSector: Consumer DiscretionaryIndustry: Leisure Facilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Renewable Energy Transition, and Sustainable Resource Management. Themes include Solar Energy Generation, Battery Storage & Grid Modernization, Show more. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -60% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.5% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.2% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.1% High stock price volatilityVol 12M is 131% Key risksPUSA key risks include [1] its total geographic concentration in the Orlando, Show more. |
| Megatrend and thematic driversMegatrends include Renewable Energy Transition, and Sustainable Resource Management. Themes include Solar Energy Generation, Battery Storage & Grid Modernization, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -60% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.5% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.2% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.1% |
| High stock price volatilityVol 12M is 131% |
| Key risksPUSA key risks include [1] its total geographic concentration in the Orlando, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Aureus Greenway (PUSA) stock has gained about 25% since it went public on 5/19/2026 because of the following key factors:
1. Anticipation of Merger with Autonomous Drone Company Powerus.
Aureus Greenway Holdings Inc. (formerly AGH) officially changed its Nasdaq ticker symbol to PUSA on May 18, 2026, in anticipation of its pending business combination with Autonomous Power Corporation, or Powerus. This strategic move positions the company within the high-growth autonomous drone and defense technology sector, shifting its previous focus as an owner and operator of golf course properties.
2. Powerus's Qualification for a Major Pentagon Program.
A significant catalyst for the stock's approximately 25% gain since May 19, 2026, was Powerus's qualification to compete in Phase II of the U.S. Department of Defense's $1 billion Drone Dominance Program. This initiative aims to procure tens of thousands of low-cost attack drones. Following this announcement, PUSA shares experienced a jump of 17%.
Show more
Stock Movement Drivers
Fundamental Drivers
nullnull
Market Drivers
2/28/2026 to 6/1/2026| Return | Correlation | |
|---|---|---|
| PUSA | ||
| Market (SPY) | 10.9% | 15.5% |
| Sector (XLY) | 1.3% | -32.7% |
Fundamental Drivers
nullnull
Market Drivers
11/30/2025 to 6/1/2026| Return | Correlation | |
|---|---|---|
| PUSA | ||
| Market (SPY) | 11.6% | 15.5% |
| Sector (XLY) | 0.4% | -32.7% |
Fundamental Drivers
nullnull
Market Drivers
5/31/2025 to 6/1/2026| Return | Correlation | |
|---|---|---|
| PUSA | ||
| Market (SPY) | 30.2% | 15.5% |
| Sector (XLY) | 11.4% | -32.7% |
Fundamental Drivers
nullnull
Market Drivers
5/31/2023 to 6/1/2026| Return | Correlation | |
|---|---|---|
| PUSA | ||
| Market (SPY) | 88.6% | 15.5% |
| Sector (XLY) | 59.8% | -32.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PUSA Return | - | - | - | - | - | 10% | 10% |
| Peers Return | 13% | -18% | 40% | 284% | 47% | 14% | 738% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| PUSA Win Rate | - | - | - | - | - | 100% | |
| Peers Win Rate | 45% | 43% | 62% | 57% | 57% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| PUSA Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -40% | -43% | -26% | -28% | -40% | -41% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AVAV, KTOS, RCAT, TXT, GOLF.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/1/2026 (YTD)
How Low Can It Go
PUSA has limited trading history. Below is the Consumer Discretionary sector ETF (XLY) in its place.
| Event | XLY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.8% | -18.8% |
| % Gain to Breakeven | 27.9% | 23.1% |
| Time to Breakeven | 105 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.2% | -7.8% |
| % Gain to Breakeven | 12.6% | 8.5% |
| Time to Breakeven | 37 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -13.6% | -9.5% |
| % Gain to Breakeven | 15.8% | 10.5% |
| Time to Breakeven | 42 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.9% | -24.5% |
| % Gain to Breakeven | 56.0% | 32.4% |
| Time to Breakeven | 874 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -33.9% | -33.7% |
| % Gain to Breakeven | 51.3% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.6% | -19.2% |
| % Gain to Breakeven | 24.4% | 23.8% |
| Time to Breakeven | 98 days | 105 days |
In The Past
State Street Consumer Discretionary Select Sector SPDR ETF's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
PUSA has limited trading history. Below is the Consumer Discretionary sector ETF (XLY) in its place.
| Event | XLY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.8% | -18.8% |
| % Gain to Breakeven | 27.9% | 23.1% |
| Time to Breakeven | 105 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.9% | -24.5% |
| % Gain to Breakeven | 56.0% | 32.4% |
| Time to Breakeven | 874 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -33.9% | -33.7% |
| % Gain to Breakeven | 51.3% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -51.0% | -53.4% |
| % Gain to Breakeven | 104.3% | 114.4% |
| Time to Breakeven | 372 days | 1085 days |
In The Past
State Street Consumer Discretionary Select Sector SPDR ETF's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Aureus Greenway (PUSA)
AI Analysis | Feedback
Think of it like Bowlero, but for golf courses instead of bowling alleys.
It's like a smaller, public version of ClubCorp.
AI Analysis | Feedback
- Golf Course Access: Provides access to two multi-service golf courses for recreational play.
- Golf Memberships: Offers various membership packages for regular access and benefits at their golf country clubs.
- Retail Golf Products: Sells golf equipment, apparel, and accessories through on-site pro shops.
- Food and Beverage Services: Operates dining establishments and offers beverage options within clubhouses.
- Facilities and Equipment Rental: Rents out golf equipment and portions of their facilities for events and use.
- Ancillary Golf Services: Includes services such as aquatic golf ranges and professional golf assistance.
AI Analysis | Feedback
Aureus Greenway (PUSA) primarily serves individual customers rather than other companies. Based on the company description, its major customer categories are:- Local Residents and Members: Individuals residing in the greater Orlando region who are golf enthusiasts and/or hold memberships to the clubs, utilizing the golf courses, practice facilities, food and beverage options, and other amenities on a regular basis.
- Tourists and Visitors: Individuals visiting the greater Orlando region for leisure or business who seek out golf and recreational activities at the clubs during their stay.
- General Patrons and Event Attendees: Individuals who utilize specific amenities such as the food and beverage services, pro shops, or aquatic golf ranges, or attend events hosted at the facilities (e.g., tournaments, private parties), without necessarily being regular golfers or tourists.
AI Analysis | Feedback
nullAI Analysis | Feedback
Matthew J. Saker, Interim Chief Executive Officer
Matthew J. Saker was appointed interim Chief Executive Officer of Aureus Greenway Holdings Inc. effective January 29, 2026. He has over 23 years of experience at CBRE, where he serves as Senior Vice President in the firm's Global Advisory & Transaction Services group, a position he has held since 2003. Prior to CBRE, he held leadership roles at Peter Elliot & Co. and began his real estate practice at Grubb & Ellis. Earlier in his career, he was involved in asset management and development across a diverse portfolio, including a private golf course, at Saker Associates. Mr. Saker holds a Master of Science in Real Estate Development from Columbia University and a Bachelor of Science in Finance from St. Joseph's University.
Mr. Sam Wai Sing Lui, Chief Financial Officer
Mr. Sam Wai Sing Lui is a financial executive with over a decade of experience as Chief Financial Officer and Financial Controller for multinational corporations and companies listed on the Stock Exchange of Hong Kong (HKEX) and Nasdaq. He is a member of HKICPA and ACCA. Mr. Lui began his career in audit at firms such as Deloitte and BDO, where he worked with listed clients across Asia and Europe. His experience includes guiding companies through the IPO process, from pre-listing preparation to post-listing compliance. He served as CFO of Aureus Greenway Holdings Inc. during its listing on the Nasdaq Capital Market in February 2025 and as Financial Controller and Company Secretary of Cool Link (Holdings) Limited for its listing on the GEM Board of HKEX.
AI Analysis | Feedback
Aureus Greenway (PUSA) operates two public golf country clubs in the greater Orlando, Florida region. Based on the description of its operations, the key risks to the business are:Key Risks to Aureus Greenway's Golf Country Club Business
- Geographic Concentration and Sensitivity to Regional Factors: Aureus Greenway's entire business, including all its assets and revenue generation, is concentrated in the Florida market, specifically the greater Orlando area. This geographic concentration makes the company highly vulnerable to regional economic downturns, fluctuations in tourism to Florida, and severe weather events, such as hurricanes, which are common in the state. Such events can cause significant property damage, disrupt operations, and deter both local residents and tourists from visiting the golf country clubs, directly impacting revenue from golf recreation, memberships, and food and beverage services.
- Dependence on Discretionary Consumer Spending: The company's revenue streams, which include golf recreation, retail golf products, equipment and facilities rental, membership dues, and food and beverage services, are largely dependent on consumers' discretionary income and leisure spending. In times of economic uncertainty, reduced consumer confidence, or shifts in recreational preferences, demand for these services could decline significantly. This reliance on non-essential spending exposes the business to volatility based on economic conditions and consumer behavior.
- Reliance on and Potential Conflicts with the Homeowners Association (HOA): The property underlying both of Aureus Greenway's golf country clubs is part of and subject to a not-for-profit homeowners association. This structural arrangement implies that the HOA likely holds significant influence or control over aspects of the property and its operations. Potential disagreements, conflicting interests, or restrictive covenants imposed by the HOA could limit the company's operational flexibility, hinder future development plans, or lead to disputes, thereby impacting its ability to manage and grow the business effectively.
AI Analysis | Feedback
The emergence of entertainment-focused golf venues (e.g., Topgolf) in the greater Orlando region presents a clear emerging threat. These venues offer a distinct, technology-driven golf experience integrated with food, beverages, and social entertainment, appealing to a broad demographic including casual golfers, non-golfers, families, and groups seeking leisure activities. This model directly competes for the recreational time and spending of Aureus Greenway's target customers, local residents and tourists, by offering an alternative to traditional golf rounds and club amenities.AI Analysis | Feedback
For Aureus Greenway (PUSA), the addressable market for their main products and services is encompassed within the Golf Courses & Country Clubs industry in Florida.
The market size of the Golf Courses & Country Clubs industry in Florida is projected to be $4.6 billion in 2026. This market size includes revenue generated from collecting membership fees, green fees (golf recreation), food and beverage sales, and golf equipment rental services, among other related sales and services.
AI Analysis | Feedback
Aureus Greenway (PUSA) is expected to undergo a significant transformation in the near future, with a planned merger with Autonomous Power Corporation, which does business as Powerus. The combined entity is anticipated to operate as Powerus Corporation and focus on autonomous drone and defense technologies, with the ticker symbol PUSA representing this new enterprise, effective May 15, 2026, or May 18, 2026. Over the next 2-3 years, the key drivers of future revenue growth for Powerus Corporation are expected to be:
- Growth in Autonomous Drone and Defense Technologies: The core business of the combined company will be the development and deployment of autonomous aerial systems, counter-unmanned aerial systems (C-UAS), and critical infrastructure protection platforms. This focus on advanced defense and aerospace technology is expected to drive revenue as these solutions are adopted by government and commercial clients.
- Expansion within Government and Commercial Markets: Powerus intends to serve both government and commercial customers, aiming to capture a greater share of the defense and homeland security market, which is increasingly focused on unmanned systems and related countermeasures. This broader market reach for its specialized technology will contribute to revenue growth.
- Leveraging Subsidiary Expertise and Diversification: Powerus operates through wholly-owned subsidiaries, including Kaizen Aerospace, Tandem Defense, and Agile Autonomy. These subsidiaries provide diversification across various defense and aerospace niches, allowing the company to develop and offer a range of specialized solutions that can attract a wider client base and generate multiple revenue streams.
- Capitalizing on Increasing Global Demand for Autonomous Defense Capabilities: The company is positioned to benefit from a rising global interest in autonomous defense technologies. This market trend is expected to fuel demand for Powerus's products and services, driving future revenue growth.
AI Analysis | Feedback
Capital Expenditures
- Capital expenditures were approximately $0.2 million in 2022, $0.3 million in 2023, and $0.1 million in 2024.
- In 2025, capital expenditures totaled approximately $1.1 million.
- A significant portion of the 2025 capital expenditures focused on renovations, which included the closure of one golf course from May 17, 2025, to October 2, 2025.
Share Issuance
- The company issued common stock totaling approximately $34.2 million in 2025.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 76.06 |
| Mkt Cap | 10.2 |
| Rev LTM | 1,513 |
| Op Inc LTM | 14 |
| FCF LTM | -59 |
| FCF 3Y Avg | -49 |
| CFO LTM | -20 |
| CFO 3Y Avg | 24 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.7% |
| Rev Chg 3Y Avg | 15.0% |
| Rev Chg Q | 17.2% |
| QoQ Delta Rev Chg LTM | 3.9% |
| Op Inc Chg LTM | -72.1% |
| Op Inc Chg 3Y Avg | 7.9% |
| Op Mgn LTM | -1.8% |
| Op Mgn 3Y Avg | 2.6% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | -0.1% |
| CFO/Rev 3Y Avg | 2.4% |
| FCF/Rev LTM | -5.3% |
| FCF/Rev 3Y Avg | -3.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 10.2 |
| P/S | 6.3 |
| P/Op Inc | 15.2 |
| P/EBIT | 12.1 |
| P/E | 16.7 |
| P/CFO | -17.1 |
| Total Yield | 0.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -0.3% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 6.3% |
| 3M Rtn | -6.5% |
| 6M Rtn | 8.0% |
| 12M Rtn | 28.1% |
| 3Y Rtn | 100.1% |
| 1M Excs Rtn | -2.7% |
| 3M Excs Rtn | -17.0% |
| 6M Excs Rtn | -4.9% |
| 12M Excs Rtn | -0.7% |
| 3Y Excs Rtn | 13.3% |
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Leisure Facilities Resources |
| Blooloop |
| Attractions Management |
| IAAPA |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.