Energy Recovery, Inc.(ERII)Earnings, Financials & Key Ratios

ERII•NASDAQ

$8.80

21.0× P/E·Price updated Jul 7, 2026

SectorIndustrials IndustryEnvironmental Services Sub-IndustryFiltration and Flow Control Components

AboutEnergy Recovery, Inc., together with its subsidiaries, designs, manufactures, and sells various solutions for the seawater reverse osmosis desalination and industrial wastewater treatment industries worldwide. The company operates through Water and Emerging Technologies segments. It offers a suite of products, including energy recovery devices, and high-pressure feed and recirculation pumps; hydraulic turbochargers and boosters; and spare parts, as well as repair, field, and commissioning services. The company also offers a solution to reduce energy consumption in natural gas processing and in refrigeration systems that use carbon dioxide. It provides its products under the ERI, Ultra PX, PX, Pressure Exchanger, PX Pressure Exchanger, PX PowerTrain, VorTeq, IsoBoost, AT, and AquaBold names to large engineering, procurement, and construction firms; end-users and industry consultants; original equipment manufacturers; and aftermarket customers. The company was incorporated in 1992 and is headquartered in San Leandro, California.Show more

Revenue$135M-7.1%
EBITDA$28M+10.8%
Net Income$23M-0.4%
EPS (Diluted)0.42+5.0%
Gross Margin65.17%-2.6%
EBITDA Margin21.02%+19.3%
Operating Margin18.23%+34.0%
Net Margin17.05%+7.2%
ROE11.03%+2.9%

ERII Price & Volume

Energy Recovery, Inc. (ERII) stock price & volume — 10-year historical chart

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Project Volatility Masks Underlying Operational Margin Sensitivity

Investment Thesis • Updated 2026Q1

VerdictNeutral

Growth:Mixed

Profitability:Strained

Financial:Fortress

Cash Flow:Mixed

Primary Risk:Project-based revenue volatility

Key Thesis Takeaways

Energy Recovery, Inc.
maintains a fortress balance sheet with a debt-to-equity ratio of 0.05, yet its reliance on lumpy, project-based desalination revenue creates significant earnings instability.
While the company is attempting to pivot toward CO2 refrigeration, the historical failure of the VorTeq project suggests substantial execution risk in new markets.
Investors should monitor the disconnect between GAAP net income and cash flow, as evidenced by the 2026Q1 OCF/NI ratio of -1.72, which complicates the valuation of the core business.

Verdict Logic

while the company holds a strong balance sheet with $50.1M in cash, the extreme volatility in quarterly revenue and the -103.3% operating margin in 2026Q1 warrant a cautious wait-and-see approach.

ERII Growth Metrics

Energy Recovery, Inc. (ERII) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years11.66%

5 Years7.9%

3 Years2.36%

TTM-3.25%

Profit CAGR

10 Years-

5 Years-2.74%

3 Years-1.53%

TTM-3.92%

EPS CAGR

10 Years-

5 Years-2.22%

3 Years0%

TTM3.09%

Return on Capital

10 Years8.28%

5 Years9.76%

3 Years9.64%

Last Year11.33%

ERII Recent Earnings

Energy Recovery, Inc. (ERII) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 7/12 qtrs (58%)●Beat Revenue 3/12 qtrs (25%)

Q2 2026Latest

May 6, 2026

Metric

Actual

Est

EPS

$0.23-130.0%

$0.10

Rev

$10M+15.9%

$8M

Q1 2026

Feb 25, 2026

Metric

Actual

Est

EPS

$0.53-20.9%

$0.67

Rev

$67M-19.0%

$83M

Q4 2025

Nov 5, 2025

Metric

Actual

Est

EPS

$0.12+33.3%

$0.09

Rev

$32M-61.3%

$83M

Q3 2025

Aug 6, 2025

Metric

Actual

Est

EPS

$0.07+250.0%

$0.02

Rev

$28M-34.5%

$43M

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 6, 2026	$0.23vs $0.10-130.0%	$10Mvs $8M+15.9%
Q1 2026	Feb 25, 2026	$0.53vs $0.67-20.9%	$67Mvs $83M-19.0%
Q4 2025	Nov 5, 2025	$0.12vs $0.09+33.3%	$32Mvs $83M-61.3%
Q3 2025	Aug 6, 2025	$0.07vs $0.02+250.0%	$28Mvs $43M-34.5%

Based on last 12 quarters of dataView full earnings history →

Latest ERII News

Recent stock market news and headlines for Energy Recovery, Inc. (ERII)

Business Wire·Jun 29, 2026

Energy Recovery Announces New Wastewater Project Wins Across India

SAN LEANDRO, Calif.--(BUSINESS WIRE)--Energy Recovery (NASDAQ: ERII) today announced five new contracted wastewater projects in India, with multiple PX® Pressure Exchanger® (PX) energy recovery devices to be installed in industrial reverse osmosis (RO) plants across the country. The projects reflect India's tightening wastewater discharge regulations and a growing push towards water reuse in the industrial sector. India has approximately 18% of the global population, with only 4% of the world's.

Peers Comparison

Key metrics vs top competitors for Energy Recovery, Inc. (ERII)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
ERIIEnergy Recovery, Inc.Current	$8.80	$453.6M	20.95	-7.07%	17.05%	11.03%	—
FELEFranklin Electric Co., Inc.	$102.77	$4.54B	31.62	5.44%	6.91%	11.44%	—
PUMPProPetro Holding Corp.	$12.30	$1.51B	1576.92	-12.13%	-1.05%	-1.43%	—
HLIOHelios Technologies, Inc.	$80.01	$2.64B	55.18	4.11%	6.98%	6.59%	—
PNRPentair plc	$75.18	$12.15B	18.98	2.28%	15.97%	17.74%	—
XYLXylem Inc.	$120.65	$28.68B	30.78	5.52%	10.7%	8.51%	—

Compare ERII vs Peers

Energy Recovery, Inc. (ERII) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FELE

Most directly comparable listed peer for ERII.

Scale Benchmark

vs DHR

Larger-name benchmark to compare ERII against a more recognizable public peer.

Peer Set

Compare Top 5

vs FELE, PUMP, HLIO, PNR

ERII SEC Filings & Documents

Energy Recovery, Inc. (ERII) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 6, 2026·SEC

Material company update

Feb 25, 2026·SEC

Material company update

Nov 5, 2025·SEC

10-K Annual Reports

FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 21, 2024·SEC

10-Q Quarterly Reports

FY 2026

May 6, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 6, 2025·SEC

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ERII Frequently Asked Questions

Energy Recovery, Inc. (ERII) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Energy Recovery, Inc.'s revenue?

Energy Recovery, Inc. (ERII) reported $136.3M in revenue for fiscal year 2025. This represents a 580% increase from $20.1M in 2006.

How fast is Energy Recovery, Inc. growing?

Energy Recovery, Inc. (ERII) saw revenue decline by 7.1% over the past year.

Is ERII profitable?

Yes, Energy Recovery, Inc. (ERII) is profitable, generating $20.6M in net income for fiscal year 2025 (17.0% net margin).

Dividend & Returns

What is ERII's return on equity?

Energy Recovery, Inc. (ERII) has a return on equity (ROE) of 11.0%. This is reasonable for most industries.

What is Energy Recovery, Inc.'s free cash flow?

Energy Recovery, Inc. (ERII) generated $27.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in ERII back in 2006?

Total return calculator · dividends reinvested · 20+ years of data

See returns →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

May 6, 2026

$0.23vs $0.10-130.0%

$10Mvs $8M+15.9%

Q1 2026

Feb 25, 2026

$0.53vs $0.67-20.9%

$67Mvs $83M-19.0%

Q4 2025

Nov 5, 2025

$0.12vs $0.09+33.3%

$32Mvs $83M-61.3%

Q3 2025

Aug 6, 2025

$0.07vs $0.02+250.0%

$28Mvs $43M-34.5%

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

ERIIEnergy Recovery, Inc.Current

$8.80

$453.6M

20.95

-7.07%

17.05%

11.03%

—

FELEFranklin Electric Co., Inc.

$102.77

$4.54B

31.62

5.44%

6.91%

11.44%

—

PUMPProPetro Holding Corp.

$12.30

$1.51B

1576.92

-12.13%

-1.05%

-1.43%

—

HLIOHelios Technologies, Inc.

$80.01

$2.64B

55.18

4.11%

6.98%

6.59%

—

PNRPentair plc

$75.18

$12.15B

18.98

2.28%

15.97%

17.74%

—

XYLXylem Inc.

$120.65

$28.68B

30.78

5.52%

10.7%

8.51%

—