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MARKETS / NASDAQ / Industrials / Machinery and equipment / ERII
NASDAQ · SPECIAL INDUSTRY MACHINERY, NEC · LARGE CAP

Energy Recovery, Inc. ERII

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$135.0M
▼ 6.9% YoY
$23.0M
▼ 0.4% YoY
$17.4M
▼ 9.3% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company's products, including its PX, hydraulic turbochargers, high-pressure pumps, and circulation booster pumps, are designed, manufactured, assembled, and tested in two facilities located in California. The company separates its Water segment sales into three distinct channels: megaproject, original equipment manufacturers, and aftermarket. Its corporate headquarters, principal research and development, and manufacturing facility are located in San Leandro, California, and it also has manufacturing and warehouse space in Tracy, California. Worldwide seawater desalination plants using its products produce over 43 million cubic meters of water per day. As of December 31, 2025, the company had 230 full-time employees. The company has been incorporated in the state of Delaware since 2001.

Written from the business description in Energy Recovery, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 135.0M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 135.0 · Net income 23.0
100M200M-10M-20M
2009201220152018202120242025
Compound annual growth
+2.4%
+2.6%
+11.9%
+7.5%
−1.5%
−2.7%
+0.0%
−2.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +2.6% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

17 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 17.7% · Net 17.0%
10%20%-50%
200920172025
ROE
FY2025 · ROE 11.0%
10%20%-10%-20%
200920172025
Three returns, three denominators.
Gross margin65.1%
Operating margin17.7%
Net margin17.0%
EBITDAUSD 27.6M

Each USD of equity produced 11 cents of profit this year.

Cash & shareholders

USD 33.8M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 17.4
25.0M50.0M-5.0M-10.0M
200920172025
Net buybacks $M Dividends $M
FY2025 · Dividends · · Net buybacks 33.8
20.0M40.0M-2.5M-5.0M
2012201520172019202120232025
Dividends paid·
Net buybacksUSD 33.8M
Share of profit147.3%
Consecutive raises·

USD 33.8M in buybacks — 147% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 231.5M
EquityUSD 206.2M
CashUSD 48.1M
Current ratio10.44×

Equity funds 89% of total assets.

The 17-year record

17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
ERII, 17-year financial record
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.10.10.10.10.10.10.10.10.10.10.00.00.00.00.00.00.0
Operating income $B0.00.00.00.00.00.00.00.00.00.0−0.0−0.0−0.0−0.0−0.0−0.00.0
EBITDA $B0.00.00.00.00.00.00.00.00.00.0−0.0−0.00.0−0.0−0.0−0.0◌
Income tax $B0.00.00.00.0−0.00.00.0−0.0−0.0−0.0−0.00.00.0−0.00.0−0.00.0
Net income $B0.00.00.00.00.00.00.00.00.00.0−0.0−0.0−0.0−0.0−0.0−0.00.0
Free cash flow $B0.00.00.00.00.00.0−0.00.0−0.00.00.1−0.00.0−0.0−0.0−0.00.0
EPS, diluted $0.420.400.370.420.240.470.190.400.330.07−0.22−0.36−0.06−0.16−0.50−0.070.07
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend—————————————————
ROE %11.010.710.613.28.117.28.821.522.95.6−17.3−23.9−3.6−9.0−24.3−3.03.0
Shares out B0.050.050.060.060.060.060.060.050.050.050.050.050.050.050.050.05◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 80 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Six checks were skipped: the balance sheet is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009. Two checks were skipped: revenue is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivitySpecial Industry Machinery, NEC
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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