Energy Recovery, Inc. (ERII)

NASDAQ: ERII · Real-Time Price · USD

6.96

-0.16 (-2.25%)

At close: Oct 30, 2026, 4:00 PM EDT

6.93

-0.03 (-0.43%)

After-hours: Oct 30, 2026, 4:48 PM EDT

Energy Recovery Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	120.57	134.99	144.95	128.35	125.59	103.9
Revenue Growth	-14.95%	-6.87%	12.93%	2.20%	20.87%	-12.68%
Gross Profit	78.81	87.93	96.93	87.08	87.36	71.23
Operating Income	19.69	24.56	22.2	19.05	24.83	13.83
Net Income	15.34	22.96	23.05	21.5	24.05	14.27
Earnings Per Share	0.28	0.42	0.40	0.37	0.42	0.24
EPS Growth	-35.32%	5.00%	8.11%	-11.91%	75.00%	-48.94%

Revenue by Segment

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Emerging Technologies	0.29	0.64	0.62	0.16	0.05
Water	134.7	144.31	127.73	125.43	103.85
Total	134.99	144.95	128.35	125.59	103.9

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	93.06	75.25	78.02	108.54	89.83	105.69
Total Debt	8.23	9.43	11.32	13.28	14.88	16.44
Net Cash (Debt)	84.82	65.82	66.7	95.26	74.96	89.25
Net Cash Growth	23.00%	-1.32%	-29.98%	27.10%	-16.01%	-8.01%
Net Cash Per Share	1.60	1.22	1.15	1.65	1.30	1.52

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	41.29	18.77	20.52	26.05	12.63	13.53
Capital Expenditures	-2.69	-1.33	-1.3	-2.57	-4.23	-6.68
Free Cash Flow	38.6	17.44	19.22	23.49	8.4	6.84
Free Cash Flow Growth	91.29%	-9.28%	-18.15%	179.64%	22.76%	-32.16%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	65.36%	65.14%	66.87%	67.84%	69.56%	68.56%
Operating Margin	16.33%	18.19%	15.32%	14.84%	19.77%	13.31%
Pretax Margin	14.58%	20.44%	17.75%	17.69%	20.76%	13.48%
Profit Margin	12.72%	17.01%	15.90%	16.75%	19.15%	13.73%
FCF Margin	32.01%	12.92%	13.26%	18.30%	6.69%	6.59%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	24.93	31.12	36.92	49.52	47.71	85.42
Forward PE	1392.00	15.87	19.41	53.83	89.09	50.36
P/FCF Ratio	9.22	40.97	44.27	45.34	136.61	178.15
PS Ratio	2.95	5.29	5.87	8.30	9.14	11.73