15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $135M | $23M | 65.1% | 17.7% | $17M | — | $48M |
| 2024 | $145M | $23M | 66.9% | 13.6% | $19M | — | $30M |
| 2023 | $128M | $22M | 67.8% | 14.8% | $23M | — | $68M |
| 2022 | $126M | $24M | 69.6% | 19.8% | $8M | — | $56M |
| 2021 | $104M | $14M | 68.6% | 13.3% | $7M | — | $74M |
| 2020 | $119M | $26M | 0.0% | 26.3% | $10M | — | $94M |
| 2019 | $87M | $11M | 0.0% | 11.9% | -$2M | — | $26M |
| 2018 | $75M | $22M | 0.0% | 13.4% | $2M | $0 | $22M |
| 2017 | $69M | $18M | 56.6% | 13.4% | -$4M | $27000 | $28M |
| 2016 | $58M | $4M | 55.1% | 5.9% | $4M | $38000 | $61M |
| 2015 | — | -$12M | — | — | — | $48000 | $100M |
| 2014 | — | -$19M | — | — | — | — | $16M |
| 2013 | — | -$3M | — | — | $956000 | — | $14M |
| 2012 | — | -$8M | — | — | -$7M | — | $17M |
| 2011 | — | -$26M | — | — | -$10M | $85000 | $19M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $10M | -$12M | 27.8% | -153.1% | $20M | — | $50M |
| Dec '25 | $67M | $27M | 67.2% | 46.8% | $6M | — | $48M |
| Sep '25 | $32M | $4M | 64.2% | 11.4% | -$3M | — | $47M |
| Jun '25 | $28M | $2M | 64.0% | 5.3% | $4M | — | $57M |
| Mar '25 | $8M | -$10M | 55.3% | -155.8% | $10M | — | $49M |
| Dec '24 | $67M | $23M | 70.2% | 38.2% | $9M | — | $30M |
| Sep '24 | $39M | $8M | 65.1% | 18.3% | -$3M | — | $63M |
| Jun '24 | $27M | -$642000 | 64.6% | -7.4% | $8M | — | $40M |
| Mar '24 | $12M | -$8M | 59.0% | -90.4% | $6M | — | $71M |
| Dec '23 | $57M | $20M | 69.1% | 36.0% | $12M | — | $68M |
| Sep '23 | $37M | $10M | 69.9% | 24.7% | $7M | — | $51M |
| Jun '23 | $21M | -$2M | 65.4% | -12.5% | -$5M | — | $44M |
| Mar '23 | $13M | -$6M | 60.9% | -60.5% | $8M | — | $66M |
| Dec '22 | $42M | $14M | 70.7% | 34.5% | $5M | — | $56M |
| Sep '22 | $30M | $5M | 69.1% | 16.1% | -$2M | — | $52M |
| Jun '22 | $20M | -$2M | 65.9% | -14.3% | $9M | — | $43M |
| Mar '22 | $33M | $8M | 70.8% | 25.3% | -$4M | — | $45M |
| Dec '21 | $34M | $5M | 0.0% | 17.8% | $4M | — | $74M |
| Sep '21 | $21M | $1M | 70.7% | 6.9% | -$7M | — | $66M |
| Jun '21 | $21M | $1M | 65.2% | 1.4% | $10M | — | $103M |
How the market has priced ERII against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Energy Recovery, Inc.'s revenue has grown 2.6% per year, and net income declined 2.7% per year. These are computed facts, not advice.
As of FY2025, Energy Recovery, Inc. reported — of total debt against $48M of cash.
In FY2025, gross margin was 65.1%, operating margin 17.7%, and net margin 17.0%.
As of Jun '26, Energy Recovery, Inc. traded at a price-to-earnings ratio of about 19.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.