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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and FINANCIAL INSTITUTIONS INC (FISI). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $62.7M, roughly 1.1× FINANCIAL INSTITUTIONS INC). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 33.5%, a 6.8% gap on every dollar of revenue. Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs -2.0%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
The Mizuho Financial Group, Inc. , known from 2000 to 2003 as Mizuho Holdings and abbreviated as MHFG or simply Mizuho, is a Japanese banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The group was formed in 2000–2002 by merger of Dai-Ichi Kangyo Bank, Fuji Bank, and Industrial Bank of Japan. The name mizuho (瑞穂) literally means "abundant rice" in Japanese and "harvest" in the figurative sense.
ERII vs FISI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $62.7M |
| Net Profit | $26.9M | $21.0M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | — |
| Net Margin | 40.2% | 33.5% |
| Revenue YoY | -0.3% | — |
| Net Profit YoY | 14.7% | 24.3% |
| EPS (diluted) | $0.49 | $1.04 |
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.
| Q1 26 | — | $62.7M | ||
| Q4 25 | $66.9M | $64.1M | ||
| Q3 25 | $32.0M | $63.8M | ||
| Q2 25 | $28.1M | $59.7M | ||
| Q1 25 | — | $57.2M | ||
| Q4 24 | $67.1M | $41.6M | ||
| Q3 24 | $38.6M | $50.1M | ||
| Q2 24 | $27.2M | $65.2M |
| Q1 26 | — | $21.0M | ||
| Q4 25 | $26.9M | $20.0M | ||
| Q3 25 | $3.9M | $20.5M | ||
| Q2 25 | $2.1M | $17.5M | ||
| Q1 25 | — | $16.9M | ||
| Q4 24 | $23.5M | $-82.8M | ||
| Q3 24 | $8.5M | $13.5M | ||
| Q2 24 | $-642.0K | $25.6M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 46.8% | 37.4% | ||
| Q3 25 | 11.4% | 39.5% | ||
| Q2 25 | 5.3% | 36.0% | ||
| Q1 25 | — | 36.0% | ||
| Q4 24 | 38.2% | -276.9% | ||
| Q3 24 | 18.3% | 29.0% | ||
| Q2 24 | -7.4% | 46.2% |
| Q1 26 | — | 33.5% | ||
| Q4 25 | 40.2% | 38.3% | ||
| Q3 25 | 12.1% | 32.1% | ||
| Q2 25 | 7.3% | 29.3% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | 35.0% | -198.9% | ||
| Q3 24 | 22.0% | 26.9% | ||
| Q2 24 | -2.4% | 39.3% |
| Q1 26 | — | $1.04 | ||
| Q4 25 | $0.49 | $0.96 | ||
| Q3 25 | $0.07 | $0.99 | ||
| Q2 25 | $0.04 | $0.85 | ||
| Q1 25 | — | $0.81 | ||
| Q4 24 | $0.40 | $-5.32 | ||
| Q3 24 | $0.15 | $0.84 | ||
| Q2 24 | $-0.01 | $1.62 |
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 | $85.5M |
| Total DebtLower is stronger | — | $114.0M |
| Stockholders' EquityBook value | $206.2M | — |
| Total Assets | $231.5M | $6.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $85.5M | ||
| Q4 25 | $75.2M | $108.8M | ||
| Q3 25 | $70.4M | $185.9M | ||
| Q2 25 | $79.5M | $93.0M | ||
| Q1 25 | — | $167.4M | ||
| Q4 24 | $78.0M | $87.3M | ||
| Q3 24 | $118.6M | — | ||
| Q2 24 | $101.0M | — |
| Q1 26 | — | $114.0M | ||
| Q4 25 | — | $193.7M | ||
| Q3 25 | — | $115.0M | ||
| Q2 25 | — | $115.0M | ||
| Q1 25 | — | $124.9M | ||
| Q4 24 | — | $124.8M | ||
| Q3 24 | — | $124.8M | ||
| Q2 24 | — | $124.7M |
| Q1 26 | — | — | ||
| Q4 25 | $206.2M | $628.9M | ||
| Q3 25 | $180.8M | $621.7M | ||
| Q2 25 | $185.2M | $601.7M | ||
| Q1 25 | — | $589.9M | ||
| Q4 24 | $210.0M | $569.0M | ||
| Q3 24 | $233.9M | $500.3M | ||
| Q2 24 | $218.5M | $467.7M |
| Q1 26 | — | $6.3B | ||
| Q4 25 | $231.5M | $6.3B | ||
| Q3 25 | $209.6M | $6.3B | ||
| Q2 25 | $212.3M | $6.1B | ||
| Q1 25 | — | $6.3B | ||
| Q4 24 | $242.8M | $6.1B | ||
| Q3 24 | $262.7M | $6.2B | ||
| Q2 24 | $249.0M | $6.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.18× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.25× | ||
| Q2 24 | — | 0.27× |
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 | $7.1M | — |
| Free Cash FlowOCF − Capex | $6.4M | — |
| FCF MarginFCF / Revenue | 9.6% | — |
| Capex IntensityCapex / Revenue | 1.0% | — |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $7.1M | $18.8M | ||
| Q3 25 | $-3.1M | $-6.9M | ||
| Q2 25 | $4.1M | $-5.7M | ||
| Q1 25 | — | $10.0M | ||
| Q4 24 | $9.0M | $77.1M | ||
| Q3 24 | $-3.0M | $2.1M | ||
| Q2 24 | $8.1M | $35.7M |
| Q1 26 | — | — | ||
| Q4 25 | $6.4M | $13.3M | ||
| Q3 25 | $-3.5M | $-7.9M | ||
| Q2 25 | $4.0M | $-7.3M | ||
| Q1 25 | — | $9.2M | ||
| Q4 24 | $8.9M | $72.2M | ||
| Q3 24 | $-3.2M | $-299.0K | ||
| Q2 24 | $7.9M | $34.7M |
| Q1 26 | — | — | ||
| Q4 25 | 9.6% | 20.7% | ||
| Q3 25 | -10.9% | -12.4% | ||
| Q2 25 | 14.3% | -12.3% | ||
| Q1 25 | — | 16.1% | ||
| Q4 24 | 13.2% | 173.3% | ||
| Q3 24 | -8.2% | -0.6% | ||
| Q2 24 | 28.9% | 53.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 8.7% | ||
| Q3 25 | 1.1% | 1.6% | ||
| Q2 25 | 0.5% | 2.7% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | 0.2% | 11.9% | ||
| Q3 24 | 0.4% | 4.9% | ||
| Q2 24 | 0.7% | 1.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.26× | 0.94× | ||
| Q3 25 | -0.81× | -0.34× | ||
| Q2 25 | 2.02× | -0.33× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | -0.35× | 0.16× | ||
| Q2 24 | — | 1.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 10% |
FISI
| Net Interest Income | $52.0M | 83% |
| Noninterest Income | $10.7M | 17% |
