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Side-by-side financial comparison of Ellington Financial Inc. (EFC) and Energy Recovery, Inc. (ERII). Click either name above to swap in a different company.
Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $66.9M, roughly 1.2× Energy Recovery, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 28.9%, a 11.3% gap on every dollar of revenue. On growth, Ellington Financial Inc. posted the faster year-over-year revenue change (8.7% vs -0.3%). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs 1.8%).
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
EFC vs ERII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $66.9M |
| Net Profit | $22.6M | $26.9M |
| Gross Margin | — | 67.2% |
| Operating Margin | 7.4% | 46.8% |
| Net Margin | 28.9% | 40.2% |
| Revenue YoY | 8.7% | -0.3% |
| Net Profit YoY | -26.2% | 14.7% |
| EPS (diluted) | $0.10 | $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 | $78.2M | $66.9M | ||
| Q3 25 | $82.8M | $32.0M | ||
| Q2 25 | $92.5M | $28.1M | ||
| Q1 25 | $82.9M | — | ||
| Q4 24 | $72.0M | $67.1M | ||
| Q3 24 | $67.0M | $38.6M | ||
| Q2 24 | $91.2M | $27.2M | ||
| Q1 24 | $75.5M | $12.1M |
| Q4 25 | $22.6M | $26.9M | ||
| Q3 25 | $29.5M | $3.9M | ||
| Q2 25 | $42.9M | $2.1M | ||
| Q1 25 | $31.6M | — | ||
| Q4 24 | $30.7M | $23.5M | ||
| Q3 24 | $16.2M | $8.5M | ||
| Q2 24 | $52.3M | $-642.0K | ||
| Q1 24 | $26.9M | $-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 | 7.4% | 46.8% | ||
| Q3 25 | 31.1% | 11.4% | ||
| Q2 25 | 38.3% | 5.3% | ||
| Q1 25 | 37.3% | — | ||
| Q4 24 | 28.0% | 38.2% | ||
| Q3 24 | 24.0% | 18.3% | ||
| Q2 24 | 52.8% | -7.4% | ||
| Q1 24 | 42.2% | -90.4% |
| Q4 25 | 28.9% | 40.2% | ||
| Q3 25 | 35.7% | 12.1% | ||
| Q2 25 | 46.4% | 7.3% | ||
| Q1 25 | 38.2% | — | ||
| Q4 24 | 42.6% | 35.0% | ||
| Q3 24 | 24.1% | 22.0% | ||
| Q2 24 | 57.4% | -2.4% | ||
| Q1 24 | 35.6% | -68.3% |
| Q4 25 | $0.10 | $0.49 | ||
| Q3 25 | $0.29 | $0.07 | ||
| Q2 25 | $0.45 | $0.04 | ||
| Q1 25 | $0.35 | — | ||
| Q4 24 | $0.23 | $0.40 | ||
| Q3 24 | $0.19 | $0.15 | ||
| Q2 24 | $0.62 | $-0.01 | ||
| Q1 24 | $0.32 | $-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 | $201.9M | $75.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $206.2M |
| Total Assets | $19.4B | $231.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $201.9M | $75.2M | ||
| Q3 25 | $184.8M | $70.4M | ||
| Q2 25 | $211.0M | $79.5M | ||
| Q1 25 | $203.3M | — | ||
| Q4 24 | $192.4M | $78.0M | ||
| Q3 24 | $217.7M | $118.6M | ||
| Q2 24 | $198.5M | $101.0M | ||
| Q1 24 | $187.5M | $117.4M |
| Q4 25 | $1.8B | $206.2M | ||
| Q3 25 | $1.8B | $180.8M | ||
| Q2 25 | $1.7B | $185.2M | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | $210.0M | ||
| Q3 24 | $1.6B | $233.9M | ||
| Q2 24 | $1.6B | $218.5M | ||
| Q1 24 | $1.5B | $216.0M |
| Q4 25 | $19.4B | $231.5M | ||
| Q3 25 | $17.8B | $209.6M | ||
| Q2 25 | $17.1B | $212.3M | ||
| Q1 25 | $16.6B | — | ||
| Q4 24 | $16.3B | $242.8M | ||
| Q3 24 | $16.0B | $262.7M | ||
| Q2 24 | $15.1B | $249.0M | ||
| Q1 24 | $15.1B | $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 | $-925.5M | $7.1M |
| Free Cash FlowOCF − Capex | — | $6.4M |
| FCF MarginFCF / Revenue | — | 9.6% |
| Capex IntensityCapex / Revenue | 0.0% | 1.0% |
| Cash ConversionOCF / Net Profit | -40.92× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | $15.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-925.5M | $7.1M | ||
| Q3 25 | $-290.4M | $-3.1M | ||
| Q2 25 | $-210.5M | $4.1M | ||
| Q1 25 | $-126.4M | — | ||
| Q4 24 | $-430.5M | $9.0M | ||
| Q3 24 | $-141.7M | $-3.0M | ||
| Q2 24 | $-88.6M | $8.1M | ||
| Q1 24 | $-59.5M | $6.5M |
| Q4 25 | — | $6.4M | ||
| Q3 25 | — | $-3.5M | ||
| Q2 25 | — | $4.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.9M | ||
| Q3 24 | — | $-3.2M | ||
| Q2 24 | — | $7.9M | ||
| Q1 24 | — | $5.7M |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | -10.9% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | -8.2% | ||
| Q2 24 | — | 28.9% | ||
| Q1 24 | — | 46.9% |
| Q4 25 | 0.0% | 1.0% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | 0.2% | ||
| Q3 24 | 0.0% | 0.4% | ||
| Q2 24 | 0.0% | 0.7% | ||
| Q1 24 | 0.0% | 6.8% |
| Q4 25 | -40.92× | 0.26× | ||
| Q3 25 | -9.84× | -0.81× | ||
| Q2 25 | -4.90× | 2.02× | ||
| Q1 25 | -3.99× | — | ||
| Q4 24 | -14.04× | 0.38× | ||
| Q3 24 | -8.76× | -0.35× | ||
| Q2 24 | -1.69× | — | ||
| Q1 24 | -2.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EFC
Segment breakdown not available.
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 10% |
