vs
Side-by-side financial comparison of Bank First Corp (BFC) 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 $44.9M, roughly 1.5× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs 40.2%, a 5.5% gap on every dollar of revenue. On growth, Bank First Corp posted the faster year-over-year revenue change (12.1% vs -0.3%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $6.4M). Over the past eight quarters, Bank First Corp's revenue compounded faster (9.1% CAGR vs 8.1%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
BFC vs ERII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $66.9M |
| Net Profit | $18.4M | $26.9M |
| Gross Margin | — | 67.2% |
| Operating Margin | 51.0% | 46.8% |
| Net Margin | 45.8% | 40.2% |
| Revenue YoY | 12.1% | -0.3% |
| Net Profit YoY | 4.8% | 14.7% |
| EPS (diluted) | $1.87 | $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 | $44.9M | $66.9M | ||
| Q3 25 | $44.2M | $32.0M | ||
| Q2 25 | $41.6M | $28.1M | ||
| Q1 25 | $43.1M | — | ||
| Q4 24 | $40.1M | $67.1M | ||
| Q3 24 | $40.8M | $38.6M | ||
| Q2 24 | $38.9M | $27.2M | ||
| Q1 24 | $37.7M | $12.1M |
| Q4 25 | $18.4M | $26.9M | ||
| Q3 25 | $18.0M | $3.9M | ||
| Q2 25 | $16.9M | $2.1M | ||
| Q1 25 | $18.2M | — | ||
| Q4 24 | $17.5M | $23.5M | ||
| Q3 24 | $16.6M | $8.5M | ||
| Q2 24 | $16.1M | $-642.0K | ||
| Q1 24 | $15.4M | $-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 | 51.0% | 46.8% | ||
| Q3 25 | 50.8% | 11.4% | ||
| Q2 25 | 49.7% | 5.3% | ||
| Q1 25 | 51.3% | — | ||
| Q4 24 | 54.4% | 38.2% | ||
| Q3 24 | 50.7% | 18.3% | ||
| Q2 24 | 51.0% | -7.4% | ||
| Q1 24 | 45.6% | -90.4% |
| Q4 25 | 45.8% | 40.2% | ||
| Q3 25 | 40.7% | 12.1% | ||
| Q2 25 | 40.5% | 7.3% | ||
| Q1 25 | 42.3% | — | ||
| Q4 24 | 49.3% | 35.0% | ||
| Q3 24 | 40.6% | 22.0% | ||
| Q2 24 | 41.3% | -2.4% | ||
| Q1 24 | 40.8% | -68.3% |
| Q4 25 | $1.87 | $0.49 | ||
| Q3 25 | $1.83 | $0.07 | ||
| Q2 25 | $1.71 | $0.04 | ||
| Q1 25 | $1.82 | — | ||
| Q4 24 | $1.75 | $0.40 | ||
| Q3 24 | $1.65 | $0.15 | ||
| Q2 24 | $1.59 | $-0.01 | ||
| Q1 24 | $1.51 | $-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 | $243.2M | $75.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $643.8M | $206.2M |
| Total Assets | $4.5B | $231.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $243.2M | $75.2M | ||
| Q3 25 | $126.2M | $70.4M | ||
| Q2 25 | $120.3M | $79.5M | ||
| Q1 25 | $300.9M | — | ||
| Q4 24 | $261.3M | $78.0M | ||
| Q3 24 | $204.4M | $118.6M | ||
| Q2 24 | $99.0M | $101.0M | ||
| Q1 24 | $83.4M | $117.4M |
| Q4 25 | $643.8M | $206.2M | ||
| Q3 25 | $628.1M | $180.8M | ||
| Q2 25 | $612.3M | $185.2M | ||
| Q1 25 | $648.4M | — | ||
| Q4 24 | $639.7M | $210.0M | ||
| Q3 24 | $628.9M | $233.9M | ||
| Q2 24 | $614.6M | $218.5M | ||
| Q1 24 | $609.3M | $216.0M |
| Q4 25 | $4.5B | $231.5M | ||
| Q3 25 | $4.4B | $209.6M | ||
| Q2 25 | $4.4B | $212.3M | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.5B | $242.8M | ||
| Q3 24 | $4.3B | $262.7M | ||
| Q2 24 | $4.1B | $249.0M | ||
| Q1 24 | $4.1B | $244.3M |
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 | $62.5M | $7.1M |
| Free Cash FlowOCF − Capex | $51.0M | $6.4M |
| FCF MarginFCF / Revenue | 113.6% | 9.6% |
| Capex IntensityCapex / Revenue | 25.5% | 1.0% |
| Cash ConversionOCF / Net Profit | 3.40× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | $15.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.5M | $7.1M | ||
| Q3 25 | $15.5M | $-3.1M | ||
| Q2 25 | $11.9M | $4.1M | ||
| Q1 25 | $6.2M | — | ||
| Q4 24 | $65.8M | $9.0M | ||
| Q3 24 | $18.8M | $-3.0M | ||
| Q2 24 | $14.9M | $8.1M | ||
| Q1 24 | $1.3M | $6.5M |
| Q4 25 | $51.0M | $6.4M | ||
| Q3 25 | $12.5M | $-3.5M | ||
| Q2 25 | $8.2M | $4.0M | ||
| Q1 25 | $4.0M | — | ||
| Q4 24 | $58.6M | $8.9M | ||
| Q3 24 | $16.9M | $-3.2M | ||
| Q2 24 | $13.7M | $7.9M | ||
| Q1 24 | $551.0K | $5.7M |
| Q4 25 | 113.6% | 9.6% | ||
| Q3 25 | 28.2% | -10.9% | ||
| Q2 25 | 19.8% | 14.3% | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | 146.3% | 13.2% | ||
| Q3 24 | 41.5% | -8.2% | ||
| Q2 24 | 35.3% | 28.9% | ||
| Q1 24 | 1.5% | 46.9% |
| Q4 25 | 25.5% | 1.0% | ||
| Q3 25 | 6.7% | 1.1% | ||
| Q2 25 | 8.7% | 0.5% | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 18.0% | 0.2% | ||
| Q3 24 | 4.5% | 0.4% | ||
| Q2 24 | 3.1% | 0.7% | ||
| Q1 24 | 2.1% | 6.8% |
| Q4 25 | 3.40× | 0.26× | ||
| Q3 25 | 0.86× | -0.81× | ||
| Q2 25 | 0.70× | 2.02× | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 3.75× | 0.38× | ||
| Q3 24 | 1.13× | -0.35× | ||
| Q2 24 | 0.93× | — | ||
| Q1 24 | 0.09× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFC
Segment breakdown not available.
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 10% |
