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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and HEALTHSTREAM INC (HSTM). Click either name above to swap in a different company.
HEALTHSTREAM INC is the larger business by last-quarter revenue ($79.7M vs $66.9M, roughly 1.2× Energy Recovery, Inc.). On growth, HEALTHSTREAM INC posted the faster year-over-year revenue change (7.4% vs -0.3%). HEALTHSTREAM INC produced more free cash flow last quarter ($13.0M vs $6.4M). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs 4.7%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
HealthStream Inc is a leading U.S.-based provider of workforce development, compliance, and training solutions tailored for the healthcare industry. It offers cloud-based platforms covering clinical skill training, talent management, patient safety education, and regulatory adherence tools, serving over 4,000 healthcare organizations including hospitals, clinics, and long-term care facilities nationwide.
ERII vs HSTM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $79.7M |
| Net Profit | $26.9M | — |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | 3.0% |
| Net Margin | 40.2% | — |
| Revenue YoY | -0.3% | 7.4% |
| Net Profit YoY | 14.7% | — |
| EPS (diluted) | $0.49 | $0.09 |
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 | $79.7M | ||
| Q3 25 | $32.0M | $76.5M | ||
| Q2 25 | $28.1M | $74.4M | ||
| Q1 25 | — | $73.5M | ||
| Q4 24 | $67.1M | $74.2M | ||
| Q3 24 | $38.6M | $73.1M | ||
| Q2 24 | $27.2M | $71.6M | ||
| Q1 24 | $12.1M | $72.8M |
| Q4 25 | $26.9M | — | ||
| Q3 25 | $3.9M | $6.1M | ||
| Q2 25 | $2.1M | $5.4M | ||
| Q1 25 | — | $4.3M | ||
| Q4 24 | $23.5M | — | ||
| Q3 24 | $8.5M | $5.7M | ||
| Q2 24 | $-642.0K | $4.2M | ||
| Q1 24 | $-8.3M | $5.2M |
| 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% | 3.0% | ||
| Q3 25 | 11.4% | 9.9% | ||
| Q2 25 | 5.3% | 7.9% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | 38.2% | 6.3% | ||
| Q3 24 | 18.3% | 8.9% | ||
| Q2 24 | -7.4% | 6.2% | ||
| Q1 24 | -90.4% | 7.8% |
| Q4 25 | 40.2% | — | ||
| Q3 25 | 12.1% | 8.0% | ||
| Q2 25 | 7.3% | 7.2% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | 35.0% | — | ||
| Q3 24 | 22.0% | 7.8% | ||
| Q2 24 | -2.4% | 5.8% | ||
| Q1 24 | -68.3% | 7.2% |
| Q4 25 | $0.49 | $0.09 | ||
| Q3 25 | $0.07 | $0.20 | ||
| Q2 25 | $0.04 | $0.18 | ||
| Q1 25 | — | $0.14 | ||
| Q4 24 | $0.40 | $0.16 | ||
| Q3 24 | $0.15 | $0.19 | ||
| Q2 24 | $-0.01 | $0.14 | ||
| Q1 24 | $-0.14 | $0.17 |
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 | $36.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $354.0M |
| Total Assets | $231.5M | $520.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $36.2M | ||
| Q3 25 | $70.4M | $53.5M | ||
| Q2 25 | $79.5M | $52.1M | ||
| Q1 25 | — | $77.3M | ||
| Q4 24 | $78.0M | $59.5M | ||
| Q3 24 | $118.6M | $57.5M | ||
| Q2 24 | $101.0M | $46.1M | ||
| Q1 24 | $117.4M | $52.4M |
| Q4 25 | $206.2M | $354.0M | ||
| Q3 25 | $180.8M | $349.2M | ||
| Q2 25 | $185.2M | $350.6M | ||
| Q1 25 | — | $362.8M | ||
| Q4 24 | $210.0M | $359.4M | ||
| Q3 24 | $233.9M | $355.5M | ||
| Q2 24 | $218.5M | $349.2M | ||
| Q1 24 | $216.0M | $344.9M |
| Q4 25 | $231.5M | $520.4M | ||
| Q3 25 | $209.6M | $499.9M | ||
| Q2 25 | $212.3M | $500.1M | ||
| Q1 25 | — | $524.0M | ||
| Q4 24 | $242.8M | $510.8M | ||
| Q3 24 | $262.7M | $502.8M | ||
| Q2 24 | $249.0M | $499.6M | ||
| Q1 24 | $244.3M | $511.6M |
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 | $13.2M |
| Free Cash FlowOCF − Capex | $6.4M | $13.0M |
| FCF MarginFCF / Revenue | 9.6% | 16.3% |
| Capex IntensityCapex / Revenue | 1.0% | 0.3% |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $59.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $13.2M | ||
| Q3 25 | $-3.1M | $18.0M | ||
| Q2 25 | $4.1M | $5.0M | ||
| Q1 25 | — | $27.1M | ||
| Q4 24 | $9.0M | $11.2M | ||
| Q3 24 | $-3.0M | $19.1M | ||
| Q2 24 | $8.1M | $6.5M | ||
| Q1 24 | $6.5M | $20.9M |
| Q4 25 | $6.4M | $13.0M | ||
| Q3 25 | $-3.5M | $17.9M | ||
| Q2 25 | $4.0M | $2.7M | ||
| Q1 25 | — | $26.0M | ||
| Q4 24 | $8.9M | $11.0M | ||
| Q3 24 | $-3.2M | $18.8M | ||
| Q2 24 | $7.9M | $6.3M | ||
| Q1 24 | $5.7M | $20.2M |
| Q4 25 | 9.6% | 16.3% | ||
| Q3 25 | -10.9% | 23.4% | ||
| Q2 25 | 14.3% | 3.6% | ||
| Q1 25 | — | 35.4% | ||
| Q4 24 | 13.2% | 14.8% | ||
| Q3 24 | -8.2% | 25.8% | ||
| Q2 24 | 28.9% | 8.8% | ||
| Q1 24 | 46.9% | 27.8% |
| Q4 25 | 1.0% | 0.3% | ||
| Q3 25 | 1.1% | 0.1% | ||
| Q2 25 | 0.5% | 3.1% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | 0.2% | 0.3% | ||
| Q3 24 | 0.4% | 0.4% | ||
| Q2 24 | 0.7% | 0.2% | ||
| Q1 24 | 6.8% | 1.0% |
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | 2.96× | ||
| Q2 25 | 2.02× | 0.93× | ||
| Q1 25 | — | 6.25× | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | -0.35× | 3.34× | ||
| Q2 24 | — | 1.55× | ||
| Q1 24 | — | 4.01× |
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% |
HSTM
| Subscription Services | $77.0M | 97% |
| Professional Services | $2.7M | 3% |
