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Side-by-side financial comparison of AMTECH SYSTEMS INC (ASYS) and Energy Recovery, Inc. (ERII). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $19.0M, roughly 3.5× AMTECH SYSTEMS INC). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 0.6%, a 39.7% gap on every dollar of revenue. On growth, Energy Recovery, Inc. posted the faster year-over-year revenue change (-0.3% vs -22.2%). Energy Recovery, Inc. produced more free cash flow last quarter ($6.4M vs $3.8M). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (135.2% CAGR vs -13.6%).
Amtech Systems Inc is a global manufacturer of advanced thermal processing and automation equipment primarily serving the semiconductor, solar photovoltaic, and LED production sectors. Its product portfolio includes soldering, diffusion, and deposition systems, with key markets spanning North America, East Asia, and Western Europe, catering to leading electronic component and clean energy manufacturing clients.
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
ASYS vs ERII — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $19.0M | $66.9M |
| Net Profit | $108.0K | $26.9M |
| Gross Margin | 44.8% | 67.2% |
| Operating Margin | 4.1% | 46.8% |
| Net Margin | 0.6% | 40.2% |
| Revenue YoY | -22.2% | -0.3% |
| Net Profit YoY | -65.4% | 14.7% |
| EPS (diluted) | $0.01 | $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 | $19.0M | $66.9M | ||
| Q3 25 | $19.8M | $32.0M | ||
| Q2 25 | $19.6M | $28.1M | ||
| Q1 25 | $15.6M | $8.1M | ||
| Q4 24 | $24.4M | $67.1M | ||
| Q3 24 | $24.1M | $38.6M | ||
| Q2 24 | $26.7M | $27.2M | ||
| Q1 24 | $25.4M | $12.1M |
| Q4 25 | $108.0K | $26.9M | ||
| Q3 25 | $1.1M | $3.9M | ||
| Q2 25 | $106.0K | $2.1M | ||
| Q1 25 | $-31.8M | $-9.9M | ||
| Q4 24 | $312.0K | $23.5M | ||
| Q3 24 | $-536.0K | $8.5M | ||
| Q2 24 | $438.0K | $-642.0K | ||
| Q1 24 | $970.0K | $-8.3M |
| Q4 25 | 44.8% | 67.2% | ||
| Q3 25 | 44.4% | 64.2% | ||
| Q2 25 | 46.7% | 64.0% | ||
| Q1 25 | -2.1% | 55.3% | ||
| Q4 24 | 38.4% | 70.2% | ||
| Q3 24 | 40.7% | 65.1% | ||
| Q2 24 | 36.5% | 64.6% | ||
| Q1 24 | 33.2% | 59.0% |
| Q4 25 | 4.1% | 46.8% | ||
| Q3 25 | 9.3% | 11.4% | ||
| Q2 25 | 4.7% | 5.3% | ||
| Q1 25 | -202.7% | -155.8% | ||
| Q4 24 | 1.4% | 38.2% | ||
| Q3 24 | 0.1% | 18.3% | ||
| Q2 24 | 3.1% | -7.4% | ||
| Q1 24 | 5.4% | -90.4% |
| Q4 25 | 0.6% | 40.2% | ||
| Q3 25 | 5.4% | 12.1% | ||
| Q2 25 | 0.5% | 7.3% | ||
| Q1 25 | -204.2% | -122.5% | ||
| Q4 24 | 1.3% | 35.0% | ||
| Q3 24 | -2.2% | 22.0% | ||
| Q2 24 | 1.6% | -2.4% | ||
| Q1 24 | 3.8% | -68.3% |
| Q4 25 | $0.01 | $0.49 | ||
| Q3 25 | $0.08 | $0.07 | ||
| Q2 25 | $0.01 | $0.04 | ||
| Q1 25 | $-2.23 | $-0.18 | ||
| Q4 24 | $0.02 | $0.40 | ||
| Q3 24 | $-0.04 | $0.15 | ||
| Q2 24 | $0.03 | $-0.01 | ||
| Q1 24 | $0.07 | $-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 | $22.1M | $75.2M |
| Total DebtLower is stronger | $162.0K | — |
| Stockholders' EquityBook value | $54.1M | $206.2M |
| Total Assets | $94.1M | $231.5M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.1M | $75.2M | ||
| Q3 25 | $17.9M | $70.4M | ||
| Q2 25 | $15.6M | $79.5M | ||
| Q1 25 | $13.4M | $83.5M | ||
| Q4 24 | $13.2M | $78.0M | ||
| Q3 24 | $11.1M | $118.6M | ||
| Q2 24 | $13.2M | $101.0M | ||
| Q1 24 | $13.0M | $117.4M |
| Q4 25 | $162.0K | — | ||
| Q3 25 | $168.0K | — | ||
| Q2 25 | $127.0K | — | ||
| Q1 25 | $135.0K | — | ||
| Q4 24 | $161.0K | — | ||
| Q3 24 | $189.0K | — | ||
| Q2 24 | $177.0K | — | ||
| Q1 24 | $65.0K | — |
| Q4 25 | $54.1M | $206.2M | ||
| Q3 25 | $53.4M | $180.8M | ||
| Q2 25 | $51.7M | $185.2M | ||
| Q1 25 | $51.0M | $198.1M | ||
| Q4 24 | $82.4M | $210.0M | ||
| Q3 24 | $82.4M | $233.9M | ||
| Q2 24 | $81.7M | $218.5M | ||
| Q1 24 | $80.9M | $216.0M |
| Q4 25 | $94.1M | $231.5M | ||
| Q3 25 | $92.9M | $209.6M | ||
| Q2 25 | $89.5M | $212.3M | ||
| Q1 25 | $83.4M | $225.4M | ||
| Q4 24 | $117.8M | $242.8M | ||
| Q3 24 | $119.3M | $262.7M | ||
| Q2 24 | $127.1M | $249.0M | ||
| Q1 24 | $116.5M | $244.3M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.00× | — |
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 | $4.1M | $7.1M |
| Free Cash FlowOCF − Capex | $3.8M | $6.4M |
| FCF MarginFCF / Revenue | 20.2% | 9.6% |
| Capex IntensityCapex / Revenue | 1.5% | 1.0% |
| Cash ConversionOCF / Net Profit | 37.99× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $8.0M | $17.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.1M | $7.1M | ||
| Q3 25 | $2.3M | $-3.1M | ||
| Q2 25 | $2.5M | $4.1M | ||
| Q1 25 | $210.0K | $10.7M | ||
| Q4 24 | $2.9M | $9.0M | ||
| Q3 24 | $879.0K | $-3.0M | ||
| Q2 24 | $3.7M | $8.1M | ||
| Q1 24 | $336.0K | $6.5M |
| Q4 25 | $3.8M | $6.4M | ||
| Q3 25 | $2.0M | $-3.5M | ||
| Q2 25 | $2.0M | $4.0M | ||
| Q1 25 | $201.0K | $10.5M | ||
| Q4 24 | $2.7M | $8.9M | ||
| Q3 24 | $447.0K | $-3.2M | ||
| Q2 24 | $322.0K | $7.9M | ||
| Q1 24 | $-884.0K | $5.7M |
| Q4 25 | 20.2% | 9.6% | ||
| Q3 25 | 10.2% | -10.9% | ||
| Q2 25 | 10.1% | 14.3% | ||
| Q1 25 | 1.3% | 130.0% | ||
| Q4 24 | 11.2% | 13.2% | ||
| Q3 24 | 1.9% | -8.2% | ||
| Q2 24 | 1.2% | 28.9% | ||
| Q1 24 | -3.5% | 46.9% |
| Q4 25 | 1.5% | 1.0% | ||
| Q3 25 | 1.2% | 1.1% | ||
| Q2 25 | 2.8% | 0.5% | ||
| Q1 25 | 0.1% | 2.4% | ||
| Q4 24 | 0.6% | 0.2% | ||
| Q3 24 | 1.8% | 0.4% | ||
| Q2 24 | 12.5% | 0.7% | ||
| Q1 24 | 4.8% | 6.8% |
| Q4 25 | 37.99× | 0.26× | ||
| Q3 25 | 2.12× | -0.81× | ||
| Q2 25 | 23.89× | 2.02× | ||
| Q1 25 | — | — | ||
| Q4 24 | 9.19× | 0.38× | ||
| Q3 24 | — | -0.35× | ||
| Q2 24 | 8.35× | — | ||
| Q1 24 | 0.35× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASYS
| Thermal Processing Solutions | $14.0M | 74% |
| Semiconductor Fabrication Solutions | $5.0M | 26% |
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 10% |
