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Side-by-side financial comparison of FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) and Energy Recovery, Inc. (ERII). Click either name above to swap in a different company.
FEDERAL AGRICULTURAL MORTGAGE CORP is the larger business by last-quarter revenue ($107.5M vs $66.9M, roughly 1.6× Energy Recovery, Inc.). On growth, FEDERAL AGRICULTURAL MORTGAGE CORP posted the faster year-over-year revenue change (6.1% vs -0.3%). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs 7.1%).
The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, federally chartered corporation established by the U.S. Congress in 1988 under the Agricultural Credit Act of 1987. It was created to establish a secondary market for agricultural real estate and housing mortgage loans, to increase liquidity and the availability of long-term, stable credit for farmers, ranchers, and rural communities.
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
AGM vs ERII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $107.5M | $66.9M |
| Net Profit | — | $26.9M |
| Gross Margin | — | 67.2% |
| Operating Margin | 56.3% | 46.8% |
| Net Margin | — | 40.2% |
| Revenue YoY | 6.1% | -0.3% |
| Net Profit YoY | — | 14.7% |
| EPS (diluted) | $3.69 | $0.49 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $107.5M | $66.9M | ||
| Q3 25 | $104.0M | $32.0M | ||
| Q2 25 | $102.6M | $28.1M | ||
| Q1 25 | $94.3M | — | ||
| Q4 24 | $101.3M | $67.1M | ||
| Q3 24 | $90.3M | $38.6M | ||
| Q2 24 | $89.9M | $27.2M | ||
| Q1 24 | $93.7M | $12.1M |
| Q4 25 | — | $26.9M | ||
| Q3 25 | $55.0M | $3.9M | ||
| Q2 25 | $54.8M | $2.1M | ||
| Q1 25 | $49.7M | — | ||
| Q4 24 | $56.5M | $23.5M | ||
| Q3 24 | $49.8M | $8.5M | ||
| Q2 24 | $47.1M | $-642.0K | ||
| Q1 24 | $53.7M | $-8.3M |
| Q4 25 | — | 67.2% | ||
| Q3 25 | — | 64.2% | ||
| Q2 25 | — | 64.0% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 70.2% | ||
| Q3 24 | — | 65.1% | ||
| Q2 24 | — | 64.6% | ||
| Q1 24 | — | 59.0% |
| Q4 25 | 56.3% | 46.8% | ||
| Q3 25 | 64.1% | 11.4% | ||
| Q2 25 | 63.8% | 5.3% | ||
| Q1 25 | 66.9% | — | ||
| Q4 24 | 67.5% | 38.2% | ||
| Q3 24 | 69.0% | 18.3% | ||
| Q2 24 | 65.9% | -7.4% | ||
| Q1 24 | 72.8% | -90.4% |
| Q4 25 | — | 40.2% | ||
| Q3 25 | 52.9% | 12.1% | ||
| Q2 25 | 53.4% | 7.3% | ||
| Q1 25 | 52.6% | — | ||
| Q4 24 | 55.8% | 35.0% | ||
| Q3 24 | 55.2% | 22.0% | ||
| Q2 24 | 52.4% | -2.4% | ||
| Q1 24 | 57.4% | -68.3% |
| Q4 25 | $3.69 | $0.49 | ||
| Q3 25 | $4.44 | $0.07 | ||
| Q2 25 | $4.48 | $0.04 | ||
| Q1 25 | $4.01 | — | ||
| Q4 24 | $4.62 | $0.40 | ||
| Q3 24 | $3.86 | $0.15 | ||
| Q2 24 | $3.68 | $-0.01 | ||
| Q1 24 | $4.28 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $75.2M |
| Total DebtLower is stronger | $30.8B | — |
| Stockholders' EquityBook value | $1.7B | $206.2M |
| Total Assets | $35.4B | $231.5M |
| Debt / EquityLower = less leverage | 17.93× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $75.2M | ||
| Q3 25 | — | $70.4M | ||
| Q2 25 | — | $79.5M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $78.0M | ||
| Q3 24 | $842.1M | $118.6M | ||
| Q2 24 | $923.0M | $101.0M | ||
| Q1 24 | $745.1M | $117.4M |
| Q4 25 | $30.8B | — | ||
| Q3 25 | $29.2B | — | ||
| Q2 25 | $28.9B | — | ||
| Q1 25 | $28.0B | — | ||
| Q4 24 | $27.5B | — | ||
| Q3 24 | $27.2B | — | ||
| Q2 24 | $26.8B | — | ||
| Q1 24 | $26.8B | — |
| Q4 25 | $1.7B | $206.2M | ||
| Q3 25 | $1.7B | $180.8M | ||
| Q2 25 | $1.5B | $185.2M | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | $210.0M | ||
| Q3 24 | $1.5B | $233.9M | ||
| Q2 24 | $1.5B | $218.5M | ||
| Q1 24 | $1.5B | $216.0M |
| Q4 25 | $35.4B | $231.5M | ||
| Q3 25 | $33.4B | $209.6M | ||
| Q2 25 | $33.0B | $212.3M | ||
| Q1 25 | $31.8B | — | ||
| Q4 24 | $31.3B | $242.8M | ||
| Q3 24 | $30.6B | $262.7M | ||
| Q2 24 | $30.2B | $249.0M | ||
| Q1 24 | $29.8B | $244.3M |
| Q4 25 | 17.93× | — | ||
| Q3 25 | 17.31× | — | ||
| Q2 25 | 18.70× | — | ||
| Q1 25 | 18.39× | — | ||
| Q4 24 | 18.48× | — | ||
| Q3 24 | 18.60× | — | ||
| Q2 24 | 17.87× | — | ||
| Q1 24 | 18.11× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $80.1M | $7.1M |
| Free Cash FlowOCF − Capex | — | $6.4M |
| FCF MarginFCF / Revenue | — | 9.6% |
| Capex IntensityCapex / Revenue | 0.0% | 1.0% |
| Cash ConversionOCF / Net Profit | — | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | $15.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.1M | $7.1M | ||
| Q3 25 | $74.2M | $-3.1M | ||
| Q2 25 | $-47.7M | $4.1M | ||
| Q1 25 | $-49.8M | — | ||
| Q4 24 | $612.6M | $9.0M | ||
| Q3 24 | $-44.4M | $-3.0M | ||
| Q2 24 | $56.1M | $8.1M | ||
| Q1 24 | $233.3M | $6.5M |
| Q4 25 | — | $6.4M | ||
| Q3 25 | — | $-3.5M | ||
| Q2 25 | — | $4.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | $607.4M | $8.9M | ||
| Q3 24 | $-44.4M | $-3.2M | ||
| Q2 24 | $52.6M | $7.9M | ||
| Q1 24 | $231.7M | $5.7M |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | -10.9% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | 599.8% | 13.2% | ||
| Q3 24 | -49.2% | -8.2% | ||
| Q2 24 | 58.5% | 28.9% | ||
| Q1 24 | 247.3% | 46.9% |
| Q4 25 | 0.0% | 1.0% | ||
| Q3 25 | 0.0% | 1.1% | ||
| Q2 25 | 0.0% | 0.5% | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 5.2% | 0.2% | ||
| Q3 24 | 0.1% | 0.4% | ||
| Q2 24 | 4.0% | 0.7% | ||
| Q1 24 | 1.7% | 6.8% |
| Q4 25 | — | 0.26× | ||
| Q3 25 | 1.35× | -0.81× | ||
| Q2 25 | -0.87× | 2.02× | ||
| Q1 25 | -1.00× | — | ||
| Q4 24 | 10.84× | 0.38× | ||
| Q3 24 | -0.89× | -0.35× | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | 4.34× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AGM
Segment breakdown not available.
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 10% |
