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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and FIRST MID BANCSHARES, INC. (FMBH). Click either name above to swap in a different company.
FIRST MID BANCSHARES, INC. is the larger business by last-quarter revenue ($88.2M vs $66.9M, roughly 1.3× Energy Recovery, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 26.8%, a 13.4% gap on every dollar of revenue. On growth, FIRST MID BANCSHARES, INC. posted the faster year-over-year revenue change (3.4% vs -0.3%). FIRST MID BANCSHARES, INC. produced more free cash flow last quarter ($124.0M vs $6.4M). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs 5.0%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
First Mid Bancshares Inc. is a U.S.-headquartered regional financial services holding company. It provides full-range retail and commercial banking products, wealth management, insurance solutions, and agricultural financing, mainly serving individual consumers, small and medium-sized enterprises, and agricultural clients across multiple Midwestern states including Illinois, Missouri, and Indiana.
ERII vs FMBH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $88.2M |
| Net Profit | $26.9M | $23.7M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | 34.0% |
| Net Margin | 40.2% | 26.8% |
| Revenue YoY | -0.3% | 3.4% |
| Net Profit YoY | 14.7% | 23.5% |
| EPS (diluted) | $0.49 | $0.98 |
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 | $66.9M | $88.2M | ||
| Q3 25 | $32.0M | $89.3M | ||
| Q2 25 | $28.1M | $87.5M | ||
| Q1 25 | — | $84.3M | ||
| Q4 24 | $67.1M | $85.3M | ||
| Q3 24 | $38.6M | $80.6M | ||
| Q2 24 | $27.2M | $79.2M | ||
| Q1 24 | $12.1M | $79.9M |
| Q4 25 | $26.9M | $23.7M | ||
| Q3 25 | $3.9M | $22.5M | ||
| Q2 25 | $2.1M | $23.4M | ||
| Q1 25 | — | $22.2M | ||
| Q4 24 | $23.5M | $19.2M | ||
| Q3 24 | $8.5M | $19.5M | ||
| Q2 24 | $-642.0K | $19.7M | ||
| Q1 24 | $-8.3M | $20.5M |
| 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 | 46.8% | 34.0% | ||
| Q3 25 | 11.4% | 32.2% | ||
| Q2 25 | 5.3% | 34.4% | ||
| Q1 25 | — | 33.4% | ||
| Q4 24 | 38.2% | 29.7% | ||
| Q3 24 | 18.3% | 31.5% | ||
| Q2 24 | -7.4% | 33.7% | ||
| Q1 24 | -90.4% | 33.7% |
| Q4 25 | 40.2% | 26.8% | ||
| Q3 25 | 12.1% | 25.2% | ||
| Q2 25 | 7.3% | 26.8% | ||
| Q1 25 | — | 26.3% | ||
| Q4 24 | 35.0% | 22.5% | ||
| Q3 24 | 22.0% | 24.2% | ||
| Q2 24 | -2.4% | 24.9% | ||
| Q1 24 | -68.3% | 25.6% |
| Q4 25 | $0.49 | $0.98 | ||
| Q3 25 | $0.07 | $0.94 | ||
| Q2 25 | $0.04 | $0.98 | ||
| Q1 25 | — | $0.93 | ||
| Q4 24 | $0.40 | $0.81 | ||
| Q3 24 | $0.15 | $0.81 | ||
| Q2 24 | $-0.01 | $0.82 | ||
| Q1 24 | $-0.14 | $0.86 |
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 | — | $354.5M |
| Stockholders' EquityBook value | $206.2M | $958.7M |
| Total Assets | $231.5M | $8.0B |
| Debt / EquityLower = less leverage | — | 0.37× |
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 | $118.6M | — | ||
| Q2 24 | $101.0M | — | ||
| Q1 24 | $117.4M | — |
| Q4 25 | — | $354.5M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $206.2M | $958.7M | ||
| Q3 25 | $180.8M | $932.2M | ||
| Q2 25 | $185.2M | $894.1M | ||
| Q1 25 | — | $870.9M | ||
| Q4 24 | $210.0M | $846.4M | ||
| Q3 24 | $233.9M | $858.5M | ||
| Q2 24 | $218.5M | $813.6M | ||
| Q1 24 | $216.0M | $798.0M |
| Q4 25 | $231.5M | $8.0B | ||
| Q3 25 | $209.6M | $7.8B | ||
| Q2 25 | $212.3M | $7.7B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | $242.8M | $7.5B | ||
| Q3 24 | $262.7M | $7.6B | ||
| Q2 24 | $249.0M | $7.6B | ||
| Q1 24 | $244.3M | $7.7B |
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $130.9M |
| Free Cash FlowOCF − Capex | $6.4M | $124.0M |
| FCF MarginFCF / Revenue | 9.6% | 140.6% |
| Capex IntensityCapex / Revenue | 1.0% | 7.8% |
| Cash ConversionOCF / Net Profit | 0.26× | 5.53× |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $207.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $130.9M | ||
| Q3 25 | $-3.1M | $33.0M | ||
| Q2 25 | $4.1M | $7.7M | ||
| Q1 25 | — | $47.9M | ||
| Q4 24 | $9.0M | $124.4M | ||
| Q3 24 | $-3.0M | $33.1M | ||
| Q2 24 | $8.1M | $24.0M | ||
| Q1 24 | $6.5M | $29.0M |
| Q4 25 | $6.4M | $124.0M | ||
| Q3 25 | $-3.5M | $31.9M | ||
| Q2 25 | $4.0M | $6.0M | ||
| Q1 25 | — | $46.0M | ||
| Q4 24 | $8.9M | $119.5M | ||
| Q3 24 | $-3.2M | $32.0M | ||
| Q2 24 | $7.9M | $22.9M | ||
| Q1 24 | $5.7M | $27.6M |
| Q4 25 | 9.6% | 140.6% | ||
| Q3 25 | -10.9% | 35.8% | ||
| Q2 25 | 14.3% | 6.8% | ||
| Q1 25 | — | 54.5% | ||
| Q4 24 | 13.2% | 140.0% | ||
| Q3 24 | -8.2% | 39.7% | ||
| Q2 24 | 28.9% | 28.9% | ||
| Q1 24 | 46.9% | 34.5% |
| Q4 25 | 1.0% | 7.8% | ||
| Q3 25 | 1.1% | 1.2% | ||
| Q2 25 | 0.5% | 2.0% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | 0.2% | 5.8% | ||
| Q3 24 | 0.4% | 1.4% | ||
| Q2 24 | 0.7% | 1.4% | ||
| Q1 24 | 6.8% | 1.9% |
| Q4 25 | 0.26× | 5.53× | ||
| Q3 25 | -0.81× | 1.47× | ||
| Q2 25 | 2.02× | 0.33× | ||
| Q1 25 | — | 2.16× | ||
| Q4 24 | 0.38× | 6.49× | ||
| Q3 24 | -0.35× | 1.70× | ||
| Q2 24 | — | 1.21× | ||
| Q1 24 | — | 1.42× |
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% |
FMBH
Segment breakdown not available.
