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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and HBT Financial, Inc. (HBT). Click either name above to swap in a different company.
HBT Financial, Inc. is the larger business by last-quarter revenue ($67.3M vs $66.9M, roughly 1.0× Energy Recovery, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 16.6%, a 23.6% gap on every dollar of revenue. Over the past eight quarters, HBT Financial, Inc.'s revenue compounded faster (9.0% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
HBT Financial, Inc. is a U.S.-headquartered regional bank holding company based in Illinois. It offers a full range of retail and commercial banking services including deposit accounts, consumer and business loan products, wealth management advisory, and mortgage services, primarily serving local community residents and small to mid-sized enterprise clients in its operating areas.
ERII vs HBT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $67.3M |
| Net Profit | $26.9M | $11.2M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | — |
| Net Margin | 40.2% | 16.6% |
| Revenue YoY | -0.3% | — |
| Net Profit YoY | 14.7% | -41.3% |
| EPS (diluted) | $0.49 | $0.34 |
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 | — | $67.3M | ||
| Q4 25 | $66.9M | $60.4M | ||
| Q3 25 | $32.0M | $59.8M | ||
| Q2 25 | $28.1M | $58.8M | ||
| Q1 25 | — | $58.0M | ||
| Q4 24 | $67.1M | $59.0M | ||
| Q3 24 | $38.6M | $56.4M | ||
| Q2 24 | $27.2M | $56.6M |
| Q1 26 | — | $11.2M | ||
| Q4 25 | $26.9M | — | ||
| Q3 25 | $3.9M | $19.8M | ||
| Q2 25 | $2.1M | $19.2M | ||
| Q1 25 | — | $19.1M | ||
| Q4 24 | $23.5M | $20.3M | ||
| Q3 24 | $8.5M | $18.2M | ||
| Q2 24 | $-642.0K | $18.1M |
| 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% | 42.9% | ||
| Q3 25 | 11.4% | 44.7% | ||
| Q2 25 | 5.3% | 44.8% | ||
| Q1 25 | — | 44.0% | ||
| Q4 24 | 38.2% | 46.4% | ||
| Q3 24 | 18.3% | 43.4% | ||
| Q2 24 | -7.4% | 44.1% |
| Q1 26 | — | 16.6% | ||
| Q4 25 | 40.2% | — | ||
| Q3 25 | 12.1% | 33.0% | ||
| Q2 25 | 7.3% | 32.7% | ||
| Q1 25 | — | 32.9% | ||
| Q4 24 | 35.0% | 42.8% | ||
| Q3 24 | 22.0% | 32.2% | ||
| Q2 24 | -2.4% | 31.9% |
| Q1 26 | — | $0.34 | ||
| Q4 25 | $0.49 | $0.60 | ||
| Q3 25 | $0.07 | $0.63 | ||
| Q2 25 | $0.04 | $0.61 | ||
| Q1 25 | — | $0.60 | ||
| Q4 24 | $0.40 | $0.64 | ||
| Q3 24 | $0.15 | $0.57 | ||
| Q2 24 | $-0.01 | $0.57 |
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 | $287.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $747.4M |
| Total Assets | $231.5M | $6.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $287.7M | ||
| Q4 25 | $75.2M | $122.3M | ||
| Q3 25 | $70.4M | $155.1M | ||
| Q2 25 | $79.5M | $195.7M | ||
| Q1 25 | — | $211.6M | ||
| Q4 24 | $78.0M | $137.7M | ||
| Q3 24 | $118.6M | $179.7M | ||
| Q2 24 | $101.0M | $195.2M |
| Q1 26 | — | $747.4M | ||
| Q4 25 | $206.2M | $615.5M | ||
| Q3 25 | $180.8M | $599.1M | ||
| Q2 25 | $185.2M | $580.9M | ||
| Q1 25 | — | $565.1M | ||
| Q4 24 | $210.0M | $544.6M | ||
| Q3 24 | $233.9M | $537.7M | ||
| Q2 24 | $218.5M | $509.5M |
| Q1 26 | — | $6.8B | ||
| Q4 25 | $231.5M | $5.1B | ||
| Q3 25 | $209.6M | $5.0B | ||
| Q2 25 | $212.3M | $5.0B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | $242.8M | $5.0B | ||
| Q3 24 | $262.7M | $5.0B | ||
| Q2 24 | $249.0M | $5.0B |
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 | $85.1M | ||
| Q3 25 | $-3.1M | $17.2M | ||
| Q2 25 | $4.1M | $13.6M | ||
| Q1 25 | — | $30.4M | ||
| Q4 24 | $9.0M | $89.4M | ||
| Q3 24 | $-3.0M | $25.5M | ||
| Q2 24 | $8.1M | $19.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 1.0% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | 0.87× | ||
| Q2 25 | 2.02× | 0.70× | ||
| Q1 25 | — | 1.60× | ||
| Q4 24 | 0.38× | 4.41× | ||
| Q3 24 | -0.35× | 1.40× | ||
| Q2 24 | — | 1.10× |
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% |
HBT
| Net Interest Income | $56.4M | 84% |
| Noninterest Income | $10.9M | 16% |
