vs
Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and HORIZON BANCORP INC (HBNC). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $63.5M, roughly 1.1× HORIZON BANCORP INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs 40.2%, a 2.2% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs -0.3%). HORIZON BANCORP INC produced more free cash flow last quarter ($74.3M vs $6.4M). Over the past eight quarters, HORIZON BANCORP INC's revenue compounded faster (9.2% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
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.
ERII vs HBNC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $63.5M |
| Net Profit | $26.9M | $26.9M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | 51.5% |
| Net Margin | 40.2% | 42.4% |
| Revenue YoY | -0.3% | 19.5% |
| Net Profit YoY | 14.7% | 347.4% |
| EPS (diluted) | $0.49 | $0.44 |
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 | $63.5M | ||
| Q3 25 | $32.0M | $58.4M | ||
| Q2 25 | $28.1M | $66.3M | ||
| Q1 25 | — | $68.8M | ||
| Q4 24 | $67.1M | $53.1M | ||
| Q3 24 | $38.6M | $58.4M | ||
| Q2 24 | $27.2M | $55.8M | ||
| Q1 24 | $12.1M | $53.2M |
| Q4 25 | $26.9M | $26.9M | ||
| Q3 25 | $3.9M | $-222.0M | ||
| Q2 25 | $2.1M | $20.6M | ||
| Q1 25 | — | $23.9M | ||
| Q4 24 | $23.5M | $-10.9M | ||
| Q3 24 | $8.5M | $18.2M | ||
| Q2 24 | $-642.0K | $14.1M | ||
| Q1 24 | $-8.3M | $14.0M |
| 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% | 51.5% | ||
| Q3 25 | 11.4% | -490.4% | ||
| Q2 25 | 5.3% | 36.8% | ||
| Q1 25 | — | 40.8% | ||
| Q4 24 | 38.2% | -41.3% | ||
| Q3 24 | 18.3% | 31.0% | ||
| Q2 24 | -7.4% | 28.5% | ||
| Q1 24 | -90.4% | 28.8% |
| Q4 25 | 40.2% | 42.4% | ||
| Q3 25 | 12.1% | -380.2% | ||
| Q2 25 | 7.3% | 31.1% | ||
| Q1 25 | — | 34.8% | ||
| Q4 24 | 35.0% | -20.5% | ||
| Q3 24 | 22.0% | 31.1% | ||
| Q2 24 | -2.4% | 25.4% | ||
| Q1 24 | -68.3% | 26.3% |
| Q4 25 | $0.49 | $0.44 | ||
| Q3 25 | $0.07 | $-4.69 | ||
| Q2 25 | $0.04 | $0.47 | ||
| Q1 25 | — | $0.54 | ||
| Q4 24 | $0.40 | $-0.25 | ||
| Q3 24 | $0.15 | $0.41 | ||
| Q2 24 | $-0.01 | $0.32 | ||
| Q1 24 | $-0.14 | $0.32 |
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 | $139.5M |
| Total DebtLower is stronger | — | $248.6M |
| Stockholders' EquityBook value | $206.2M | $688.3M |
| Total Assets | $231.5M | $6.4B |
| Debt / EquityLower = less leverage | — | 0.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $139.5M | ||
| Q3 25 | $70.4M | $458.3M | ||
| Q2 25 | $79.5M | $137.9M | ||
| Q1 25 | — | $169.7M | ||
| Q4 24 | $78.0M | $293.4M | ||
| Q3 24 | $118.6M | $234.8M | ||
| Q2 24 | $101.0M | $146.1M | ||
| Q1 24 | $117.4M | — |
| Q4 25 | — | $248.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $206.2M | $688.3M | ||
| Q3 25 | $180.8M | $660.8M | ||
| Q2 25 | $185.2M | $790.9M | ||
| Q1 25 | — | $776.1M | ||
| Q4 24 | $210.0M | $763.6M | ||
| Q3 24 | $233.9M | $754.8M | ||
| Q2 24 | $218.5M | $726.7M | ||
| Q1 24 | $216.0M | $721.3M |
| Q4 25 | $231.5M | $6.4B | ||
| Q3 25 | $209.6M | $6.7B | ||
| Q2 25 | $212.3M | $7.7B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | $242.8M | $7.8B | ||
| Q3 24 | $262.7M | $7.9B | ||
| Q2 24 | $249.0M | $7.9B | ||
| Q1 24 | $244.3M | $7.9B |
| Q4 25 | — | 0.36× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.61× | ||
| 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 | $79.2M |
| Free Cash FlowOCF − Capex | $6.4M | $74.3M |
| FCF MarginFCF / Revenue | 9.6% | 117.0% |
| Capex IntensityCapex / Revenue | 1.0% | 7.8% |
| Cash ConversionOCF / Net Profit | 0.26× | 2.94× |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $115.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $79.2M | ||
| Q3 25 | $-3.1M | $10.9M | ||
| Q2 25 | $4.1M | $19.5M | ||
| Q1 25 | — | $15.2M | ||
| Q4 24 | $9.0M | $6.4M | ||
| Q3 24 | $-3.0M | $32.3M | ||
| Q2 24 | $8.1M | $15.9M | ||
| Q1 24 | $6.5M | $6.5M |
| Q4 25 | $6.4M | $74.3M | ||
| Q3 25 | $-3.5M | $9.4M | ||
| Q2 25 | $4.0M | $18.1M | ||
| Q1 25 | — | $14.1M | ||
| Q4 24 | $8.9M | $1.3M | ||
| Q3 24 | $-3.2M | $31.0M | ||
| Q2 24 | $7.9M | $15.1M | ||
| Q1 24 | $5.7M | $5.4M |
| Q4 25 | 9.6% | 117.0% | ||
| Q3 25 | -10.9% | 16.1% | ||
| Q2 25 | 14.3% | 27.3% | ||
| Q1 25 | — | 20.5% | ||
| Q4 24 | 13.2% | 2.4% | ||
| Q3 24 | -8.2% | 53.1% | ||
| Q2 24 | 28.9% | 27.1% | ||
| Q1 24 | 46.9% | 10.1% |
| Q4 25 | 1.0% | 7.8% | ||
| Q3 25 | 1.1% | 2.6% | ||
| Q2 25 | 0.5% | 2.1% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | 0.2% | 9.6% | ||
| Q3 24 | 0.4% | 2.2% | ||
| Q2 24 | 0.7% | 1.5% | ||
| Q1 24 | 6.8% | 2.2% |
| Q4 25 | 0.26× | 2.94× | ||
| Q3 25 | -0.81× | — | ||
| Q2 25 | 2.02× | 0.94× | ||
| Q1 25 | — | 0.64× | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | -0.35× | 1.78× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 0.47× |
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% |
HBNC
Segment breakdown not available.
