Energy Recovery, Inc. ERII R2K

Industrials · Pollution & Treatment Controls · United States

https://www.energyrecovery.com

Energy Recovery, Inc., together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the United States, North, South and Latin America, the Middle East, Northern Africa, Asia, and Europe. It operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra high-pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation pumps for use in water treatment industries, including seawater and brackish desalination, and wastewater treatment. It also provides PX G1300, which reduces energy consumption and operating costs of carbon dioxide-based refrigeration systems; and spare parts, as well as repair, field, and commissioning services. The company sells its products under the ERI, PX, PX Pressure Exchanger, Pressure Exchanger, Ultra High-Pressure PX, PX G1300, PX PowerTrain, PX G, AT, and Aquabold brands to supermarket chains, cold storage facilities, refrigeration system installers or OEMs, and other industrial users; and aftermarket customers consisting of desalination plant owners and operators. Energy Recovery, Inc. was incorporated in 1992 and is headquartered in San Leandro, California.

Market & Price

Market Cap

$421.12M

Current Price

$8.17

High / Low (52W)

$18.11 / $8.17

Beta

1.04

Valuation

Stock P/E

22.08

Industry PE

28.38

Forward P/E

15.27

PEG Ratio

3.33

Book Value

$3.54

Price to Book

2.31

P/S

3.08

EV/EBITDA

11.47

Dividend Yield

Profitability & Returns

ROCE

11.30%

ROE

10.77%

ROA

7.54%

Profit Margin

15.07%

Op Margin

EPS (Latest Qtr)

$-0.23

EPS (TTM)

$0.37

Balance Sheet & Liquidity

Debt/Equity

4.80

Quick Ratio

7.31

Current Ratio

9.28

Debt

$8.85M

Total Assets

$231.51M

Current Assets

$181.21M

Working Capital

$163.86M

Ownership

Promoter Holding

1.79%

Chg in Prom Hold

FII / Inst Holding

98.08%

Chg in FII Hold

-0.08%

Financial Snapshot

Enterprise Value

$343.82M

Total Revenue (TTM)

$136.63M

EBITDA

$29.97M

Free Cash Flow

$20.73M

Operating Cash Flow

$29.13M

Shares Outstanding

51.55M

Gross Margin

64.27%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

2.43%

Profit 5Y

-1.53%

Revenue (YoY)

20.30%

Earnings (YoY)

PROS

Generates positive free cash flow.

CONS

Earnings shrank at -1.5% CAGR over 5 years.
Trading 54.9% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ERII Energy Recovery, Inc. R2K	8.17	22.08	$421.12M	-	11.30%	10.77%	2.43%	-1.53%
2	CAT Caterpillar Inc. SPX	875.87	43.66	$403.42B	0.69%	19.42%	51.33%	4.38%	9.83%
3	GE GE Aerospace SPX	323.76	40.17	$338.27B	0.58%	11.89%	45.43%	16.32%	195.89%
4	GEV GE Vernova Inc. SPXAI	968.32	28.33	$260.21B	0.21%	6.30%	75.71%	8.68%	92.84%
5	RTX RTX Corporation SPX	179.66	33.64	$241.95B	1.54%	9.41%	11.57%	9.72%	9.01%
6	UNP Union Pacific Corporation SPX	262.64	21.60	$155.93B	2.10%	16.19%	40.69%	-0.49%	0.66%
7	ETN Eaton Corporation plc SPXAI	400.60	39.20	$155.55B	1.10%	16.23%	20.84%	9.77%	18.41%
8	HON Honeywell International Inc. NDXSPX	237.86	38.00	$150.72B	2.00%	13.57%	24.26%	1.82%	-1.62%
9	DE Deere & Company SPX	542.18	30.67	$146.45B	1.20%	12.82%	18.35%	-4.50%	-11.00%

Quarterly Results

Figures in USD.

Metric	Mar 2015	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	14.49M	13.91M	17.06M	-	13.81M	20.76M	22.24M	-	19.80M	22.80M	24.85M	-	21.54M	43.61M	27.41M	28.94M	20.61M	20.78M	32.55M	20.29M	30.46M	13.40M	20.72M	37.04M	12.09M	27.20M	38.58M	8.06M	28.05M	32.00M	66.87M	9.71M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.61M	10.10M	11.44M	21.91M	7.00M
Gross Profit	3.33M	5.65M	7.16M	8.41M	6.38M	7.74M	7.06M	10.70M	7.63M	7.29M	9.58M	14.47M	7.74M	11.43M	-	-	-	-	-	-	-	-	-	19.96M	13.43M	14.69M	23.05M	13.37M	21.05M	8.15M	13.54M	25.88M	7.13M	17.57M	25.11M	4.46M	17.95M	20.56M	44.96M	2.70M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16.48M	16.48M	16.90M	13.87M	14.36M
Operating Income	-8.07M	-3.28M	-254.00K	-191.00K	-2.15M	480.00K	-654.00K	2.68M	353.00K	1.01M	3.55M	4.34M	-1.33M	4.24M	5.65M	1.42M	2.71M	4.00M	4.57M	-911.00K	128.00K	21.27M	6.08M	6.14M	287.00K	1.43M	8.22M	-2.90M	4.91M	-8.11M	-2.59M	9.13M	-10.93M	-2.01M	7.06M	-12.02M	1.47M	3.66M	31.09M	-11.66M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11.06M	3.35M	5.07M	31.09M	-10.68M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11.48M	2.39M	4.55M	32.14M	-14.03M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1.60M	334.00K	680.00K	5.22M	-1.77M
Net Income	-8.28M	-3.33M	-340.00K	312.00K	-1.97M	456.00K	-579.00K	3.12M	422.00K	929.00K	3.47M	13.53M	-726.00K	15.74M	4.66M	2.42M	2.65M	3.72M	5.15M	-609.00K	621.00K	16.93M	5.39M	6.87M	1.07M	1.07M	7.89M	-2.36M	4.79M	-6.30M	-1.67M	9.66M	-8.26M	-642.00K	8.48M	-9.88M	2.05M	3.87M	26.91M	-12.25M
Diluted EPS	-0.16	-0.06	-0.01	0.01	-0.04	0.01	-0.01	0.06	0.02	0.02	0.06	0.24	-0.01	0.28	0.08	0.04	0.05	0.07	0.09	-0.01	0.01	0.30	0.10	0.12	0.02	0.02	0.14	-0.04	0.08	-0.11	-0.03	0.17	-0.14	-0.01	0.15	-0.18	0.04	0.07	0.50	-0.23
R&D Expense	2.53M	1.41M	1.47M	2.24M	2.67M	2.42M	2.32M	2.73M	2.51M	3.08M	3.04M	4.82M	3.92M	3.60M	4.27M	5.22M	4.25M	5.48M	6.62M	7.05M	6.71M	6.35M	5.10M	4.50M	4.42M	4.42M	4.91M	5.43M	3.83M	4.31M	3.77M	3.97M	4.35M	3.94M	3.97M	3.00M	3.45M	3.67M	-	2.79M

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	57.78M	69.13M	74.52M	86.94M	118.99M	-	125.59M	128.35M	144.95M	134.99M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	38.23M	41.27M	48.02M	47.06M
Gross Profit	29.42M	22.07M	7.80M	20.21M	25.72M	16.71M	24.56M	31.87M	39.09M	-	-	-	-	87.36M	87.08M	96.93M	87.93M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	62.53M	68.03M	74.73M	63.73M
Operating Income	6.15M	-5.02M	-25.29M	-8.65M	-2.89M	-18.48M	-11.79M	3.43M	9.25M	9.98M	10.36M	31.29M	-	24.83M	19.05M	22.20M	24.20M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	31.13M	23.15M	26.25M	27.96M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	26.07M	22.70M	25.73M	27.59M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	2.02M	1.20M	2.69M	4.63M
Net Income	3.69M	-3.61M	-26.44M	-8.25M	-3.11M	-18.70M	-11.64M	3.72M	18.35M	22.09M	10.91M	26.39M	-	24.05M	21.50M	23.05M	22.96M
Diluted EPS	0.07	-0.07	-0.50	-	-	-0.36	-0.22	0.07	0.33	0.40	0.19	0.47	-	0.42	0.37	0.40	0.42
R&D Expense	3.04M	3.94M	3.53M	4.77M	4.36M	9.69M	7.66M	10.14M	13.44M	17.01M	23.40M	23.45M	20.07M	17.91M	17.00M	16.24M	13.03M

Compounded Sales Growth

5 Years:	2.43%
1 Year:	20.30%

Compounded Profit Growth

5 Years:	-1.53%
1 Year:	-

Stock Price Performance

1 Year:	-35.21%
6 Months:	-42.67%
3 Months:	-21.67%
1 Month:	-23.64%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	133.92M	110.71M	104.55M	101.94M	85.94M	151.80M	149.06M	164.49M	179.84M	188.77M	204.31M	-	217.04M	252.97M	242.79M	231.51M
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	157.87M	185.47M	173.66M	181.21M
Cash & Equivalents	79.29M	59.12M	55.34M	18.51M	16.64M	14.37M	15.50M	99.93M	61.36M	27.78M	21.95M	26.39M	94.25M	-	56.35M	68.10M	29.63M	48.08M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	28.37M	26.15M	24.91M	24.26M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34.06M	46.94M	64.07M	76.64M
Total Liabilities	-	-	13.12M	13.76M	17.17M	15.02M	16.02M	88.14M	83.93M	72.59M	66.46M	52.76M	32.69M	-	31.70M	33.17M	32.78M	25.32M
Current Liabilities	-	-	10.35M	9.88M	12.86M	10.68M	11.52M	16.02M	17.16M	30.36M	27.13M	27.83M	15.73M	-	18.30M	21.47M	23.43M	17.35M
Long Term Debt	-	-	85.00K	-	-	-	-	38.00K	27.00K	16.00K	0	-	-	-	-	-	-	-
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14.88M	13.28M	11.32M	9.43M
Total Equity	107.00M	120.97M	120.80M	96.95M	87.38M	86.92M	69.92M	64.33M	68.49M	91.89M	113.38M	136.01M	171.62M	-	185.34M	219.81M	210.01M	206.19M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	64.23M	65.03M	66.18M	66.77M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	12.82M	1.70M	-8.26M	-4.43M	2.09M	-	-	4.96M	2.90M	7.57M	5.27M	16.87M	13.53M	12.63M	26.05M	20.52M	18.77M
Investing Cash Flow	-31.89M	-5.54M	-28.27M	6.66M	-4.85M	-	-	-40.13M	-38.91M	-10.16M	-6.88M	46.60M	-20.56M	-6.95M	-19.11M	-15.65M	33.98M
Financing Cash Flow	-1.06M	121.00K	-267.00K	-4.11M	486.00K	-	-	-2.79M	951.00K	-5.89M	5.96M	4.37M	-12.79M	-23.67M	4.79M	-43.28M	-34.53M
Capital Expenditure	-7.69M	-9.53M	-1.97M	-2.81M	-1.13M	-2.56M	-572.00K	-1.11M	-7.38M	-5.24M	-7.38M	-6.79M	-6.68M	-4.23M	-2.57M	-1.30M	-1.33M
Free Cash Flow	5.13M	-7.83M	-10.22M	-7.24M	956.00K	-	-	3.85M	-4.48M	2.33M	-2.11M	10.09M	6.84M	8.40M	23.49M	19.22M	17.44M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-17.98M	11.73M	-38.42M	18.22M
Share Buybacks	-	-	-	4.00M	-	2.83M	0	9.38M	4.28M	10.00M	0	0	23.35M	26.65M	0	50.38M	35.62M

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	55.1%	56.6%	-	-	-	-	69.6%	67.8%	66.9%	65.1%
Operating Margin %	-	-	-	-	-	-	-	5.9%	13.4%	13.4%	11.9%	26.3%	-	19.8%	14.8%	15.3%	17.9%
Net Margin %	-	-	-	-	-	-	-	6.4%	26.6%	29.6%	12.6%	22.2%	-	19.1%	16.8%	15.9%	17.0%
ROE %	3.0%	-3.0%	-27.3%	-9.4%	-3.6%	-26.8%	-18.1%	5.4%	20.0%	19.5%	8.0%	15.4%	-	13.0%	9.8%	11.0%	11.1%
ROCE %	-	-4.1%	-25.1%	-9.4%	-3.2%	-24.8%	-8.7%	2.6%	6.9%	6.5%	6.4%	16.6%	-	12.5%	8.2%	10.1%	11.3%

Shareholding Pattern

Insiders

1.79%

Institutions

98.08%

Public Float

99.86%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	11.82%	6.09M	$49.76M
2	Ameriprise Financial, Inc.	10.20%	5.26M	$42.97M
3	Amundi	7.26%	3.74M	$30.56M
4	Vanguard Capital Management LLC	4.33%	2.23M	$18.22M
5	FIL LTD	3.86%	1.99M	$16.24M
6	Legal & General Group PLC	3.69%	1.90M	$15.54M
7	State Street Corporation	3.44%	1.77M	$14.48M
8	Geode Capital Management, LLC	2.51%	1.30M	$10.58M
9	Vanguard Portfolio Management LLC	2.45%	1.26M	$10.31M
10	Dimensional Fund Advisors LP	1.70%	877.43K	$7.17M

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