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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and IMAX CORP (IMAX). Click either name above to swap in a different company.
IMAX CORP is the larger business by last-quarter revenue ($125.2M vs $66.9M, roughly 1.9× Energy Recovery, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 0.5%, a 39.7% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs -0.3%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $6.4M). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
ERII vs IMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $125.2M |
| Net Profit | $26.9M | $637.0K |
| Gross Margin | 67.2% | 57.6% |
| Operating Margin | 46.8% | 19.3% |
| Net Margin | 40.2% | 0.5% |
| Revenue YoY | -0.3% | 35.1% |
| Net Profit YoY | 14.7% | -88.0% |
| EPS (diluted) | $0.49 | $0.02 |
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 | $125.2M | ||
| Q3 25 | $32.0M | $106.7M | ||
| Q2 25 | $28.1M | $91.7M | ||
| Q1 25 | — | $86.7M | ||
| Q4 24 | $67.1M | $92.7M | ||
| Q3 24 | $38.6M | $91.5M | ||
| Q2 24 | $27.2M | $89.0M | ||
| Q1 24 | $12.1M | $79.1M |
| Q4 25 | $26.9M | $637.0K | ||
| Q3 25 | $3.9M | $20.7M | ||
| Q2 25 | $2.1M | $11.3M | ||
| Q1 25 | — | $2.3M | ||
| Q4 24 | $23.5M | $5.3M | ||
| Q3 24 | $8.5M | $13.9M | ||
| Q2 24 | $-642.0K | $3.6M | ||
| Q1 24 | $-8.3M | $3.3M |
| Q4 25 | 67.2% | 57.6% | ||
| Q3 25 | 64.2% | 63.1% | ||
| Q2 25 | 64.0% | 58.5% | ||
| Q1 25 | — | 61.4% | ||
| Q4 24 | 70.2% | 52.2% | ||
| Q3 24 | 65.1% | 55.8% | ||
| Q2 24 | 64.6% | 49.4% | ||
| Q1 24 | 59.0% | 59.3% |
| Q4 25 | 46.8% | 19.3% | ||
| Q3 25 | 11.4% | 27.2% | ||
| Q2 25 | 5.3% | 15.6% | ||
| Q1 25 | — | 19.3% | ||
| Q4 24 | 38.2% | 10.3% | ||
| Q3 24 | 18.3% | 21.2% | ||
| Q2 24 | -7.4% | 3.2% | ||
| Q1 24 | -90.4% | 15.3% |
| Q4 25 | 40.2% | 0.5% | ||
| Q3 25 | 12.1% | 19.4% | ||
| Q2 25 | 7.3% | 12.3% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | 35.0% | 5.7% | ||
| Q3 24 | 22.0% | 15.2% | ||
| Q2 24 | -2.4% | 4.0% | ||
| Q1 24 | -68.3% | 4.1% |
| Q4 25 | $0.49 | $0.02 | ||
| Q3 25 | $0.07 | $0.37 | ||
| Q2 25 | $0.04 | $0.20 | ||
| Q1 25 | — | $0.04 | ||
| Q4 24 | $0.40 | $0.09 | ||
| Q3 24 | $0.15 | $0.26 | ||
| Q2 24 | $-0.01 | $0.07 | ||
| Q1 24 | $-0.14 | $0.06 |
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 | $151.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $337.9M |
| Total Assets | $231.5M | $894.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $151.2M | ||
| Q3 25 | $70.4M | $143.1M | ||
| Q2 25 | $79.5M | $109.3M | ||
| Q1 25 | — | $97.1M | ||
| Q4 24 | $78.0M | $100.6M | ||
| Q3 24 | $118.6M | $104.5M | ||
| Q2 24 | $101.0M | $91.6M | ||
| Q1 24 | $117.4M | $81.0M |
| Q4 25 | $206.2M | $337.9M | ||
| Q3 25 | $180.8M | $349.5M | ||
| Q2 25 | $185.2M | $320.4M | ||
| Q1 25 | — | $299.5M | ||
| Q4 24 | $210.0M | $299.5M | ||
| Q3 24 | $233.9M | $289.4M | ||
| Q2 24 | $218.5M | $267.2M | ||
| Q1 24 | $216.0M | $258.8M |
| Q4 25 | $231.5M | $894.0M | ||
| Q3 25 | $209.6M | $889.6M | ||
| Q2 25 | $212.3M | $868.6M | ||
| Q1 25 | — | $848.3M | ||
| Q4 24 | $242.8M | $830.4M | ||
| Q3 24 | $262.7M | $847.6M | ||
| Q2 24 | $249.0M | $827.4M | ||
| Q1 24 | $244.3M | $824.1M |
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 | $29.4M |
| Free Cash FlowOCF − Capex | $6.4M | $28.0M |
| FCF MarginFCF / Revenue | 9.6% | 22.3% |
| Capex IntensityCapex / Revenue | 1.0% | 1.1% |
| Cash ConversionOCF / Net Profit | 0.26× | 46.11× |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $118.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $29.4M | ||
| Q3 25 | $-3.1M | $67.5M | ||
| Q2 25 | $4.1M | $23.2M | ||
| Q1 25 | — | $7.0M | ||
| Q4 24 | $9.0M | $11.5M | ||
| Q3 24 | $-3.0M | $35.3M | ||
| Q2 24 | $8.1M | $35.0M | ||
| Q1 24 | $6.5M | $-11.0M |
| Q4 25 | $6.4M | $28.0M | ||
| Q3 25 | $-3.5M | $64.8M | ||
| Q2 25 | $4.0M | $20.9M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | $8.9M | $6.9M | ||
| Q3 24 | $-3.2M | $34.2M | ||
| Q2 24 | $7.9M | $33.5M | ||
| Q1 24 | $5.7M | $-12.1M |
| Q4 25 | 9.6% | 22.3% | ||
| Q3 25 | -10.9% | 60.7% | ||
| Q2 25 | 14.3% | 22.8% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | 13.2% | 7.4% | ||
| Q3 24 | -8.2% | 37.3% | ||
| Q2 24 | 28.9% | 37.6% | ||
| Q1 24 | 46.9% | -15.3% |
| Q4 25 | 1.0% | 1.1% | ||
| Q3 25 | 1.1% | 2.6% | ||
| Q2 25 | 0.5% | 2.6% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | 0.2% | 5.0% | ||
| Q3 24 | 0.4% | 1.2% | ||
| Q2 24 | 0.7% | 1.8% | ||
| Q1 24 | 6.8% | 1.4% |
| Q4 25 | 0.26× | 46.11× | ||
| Q3 25 | -0.81× | 3.27× | ||
| Q2 25 | 2.02× | 2.06× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | 0.38× | 2.16× | ||
| Q3 24 | -0.35× | 2.54× | ||
| Q2 24 | — | 9.78× | ||
| Q1 24 | — | -3.35× |
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% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
