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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and InfuSystem Holdings, Inc (INFU). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $36.2M, roughly 1.8× InfuSystem Holdings, Inc). On growth, InfuSystem Holdings, Inc posted the faster year-over-year revenue change (7.0% vs -0.3%). InfuSystem Holdings, Inc produced more free cash flow last quarter ($7.0M vs $6.4M). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs 6.4%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
InfuSystem Holdings, Inc. is a U.S.-headquartered healthcare provider specializing in infusion therapy solutions. It supplies programmable infusion pumps, matching disposable medical consumables, and professional clinical support services, serving oncology clinics, home healthcare providers, and acute care facilities across North America.
ERII vs INFU — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $36.2M |
| Net Profit | $26.9M | — |
| Gross Margin | 67.2% | 56.4% |
| Operating Margin | 46.8% | 10.3% |
| Net Margin | 40.2% | — |
| Revenue YoY | -0.3% | 7.0% |
| 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 | $36.2M | ||
| Q3 25 | $32.0M | $36.5M | ||
| Q2 25 | $28.1M | $36.0M | ||
| Q1 25 | — | $34.7M | ||
| Q4 24 | $67.1M | $33.8M | ||
| Q3 24 | $38.6M | $35.3M | ||
| Q2 24 | $27.2M | $33.7M | ||
| Q1 24 | $12.1M | $32.0M |
| Q4 25 | $26.9M | — | ||
| Q3 25 | $3.9M | $2.3M | ||
| Q2 25 | $2.1M | $2.6M | ||
| Q1 25 | — | $-267.0K | ||
| Q4 24 | $23.5M | — | ||
| Q3 24 | $8.5M | $1.8M | ||
| Q2 24 | $-642.0K | $717.0K | ||
| Q1 24 | $-8.3M | $-1.1M |
| Q4 25 | 67.2% | 56.4% | ||
| Q3 25 | 64.2% | 57.1% | ||
| Q2 25 | 64.0% | 55.2% | ||
| Q1 25 | — | 55.2% | ||
| Q4 24 | 70.2% | 53.8% | ||
| Q3 24 | 65.1% | 53.9% | ||
| Q2 24 | 64.6% | 49.5% | ||
| Q1 24 | 59.0% | 51.5% |
| Q4 25 | 46.8% | 10.3% | ||
| Q3 25 | 11.4% | 10.4% | ||
| Q2 25 | 5.3% | 10.5% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | 38.2% | 7.7% | ||
| Q3 24 | 18.3% | 9.2% | ||
| Q2 24 | -7.4% | 5.5% | ||
| Q1 24 | -90.4% | -2.6% |
| Q4 25 | 40.2% | — | ||
| Q3 25 | 12.1% | 6.2% | ||
| Q2 25 | 7.3% | 7.2% | ||
| Q1 25 | — | -0.8% | ||
| Q4 24 | 35.0% | — | ||
| Q3 24 | 22.0% | 5.1% | ||
| Q2 24 | -2.4% | 2.1% | ||
| Q1 24 | -68.3% | -3.5% |
| Q4 25 | $0.49 | $0.09 | ||
| Q3 25 | $0.07 | $0.11 | ||
| Q2 25 | $0.04 | $0.12 | ||
| Q1 25 | — | $-0.01 | ||
| Q4 24 | $0.40 | $0.05 | ||
| Q3 24 | $0.15 | $0.08 | ||
| Q2 24 | $-0.01 | $0.03 | ||
| Q1 24 | $-0.14 | $-0.05 |
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 | $3.2M |
| Total DebtLower is stronger | — | $19.6M |
| Stockholders' EquityBook value | $206.2M | $57.3M |
| Total Assets | $231.5M | $100.6M |
| Debt / EquityLower = less leverage | — | 0.34× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $3.2M | ||
| Q3 25 | $70.4M | $955.0K | ||
| Q2 25 | $79.5M | $720.0K | ||
| Q1 25 | — | $1.5M | ||
| Q4 24 | $78.0M | $527.0K | ||
| Q3 24 | $118.6M | $380.0K | ||
| Q2 24 | $101.0M | $146.0K | ||
| Q1 24 | $117.4M | $822.0K |
| Q4 25 | — | $19.6M | ||
| Q3 25 | — | $20.9M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $28.7M | ||
| Q4 24 | — | $23.9M | ||
| Q3 24 | — | $28.0M | ||
| Q2 24 | — | $34.2M | ||
| Q1 24 | — | $29.9M |
| Q4 25 | $206.2M | $57.3M | ||
| Q3 25 | $180.8M | $55.5M | ||
| Q2 25 | $185.2M | $54.5M | ||
| Q1 25 | — | $55.1M | ||
| Q4 24 | $210.0M | $57.5M | ||
| Q3 24 | $233.9M | $55.5M | ||
| Q2 24 | $218.5M | $53.5M | ||
| Q1 24 | $216.0M | $52.3M |
| Q4 25 | $231.5M | $100.6M | ||
| Q3 25 | $209.6M | $98.9M | ||
| Q2 25 | $212.3M | $100.8M | ||
| Q1 25 | — | $104.3M | ||
| Q4 24 | $242.8M | $103.6M | ||
| Q3 24 | $262.7M | $105.3M | ||
| Q2 24 | $249.0M | $108.5M | ||
| Q1 24 | $244.3M | $104.8M |
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | 0.38× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.52× | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | 0.50× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.57× |
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 | $7.1M |
| Free Cash FlowOCF − Capex | $6.4M | $7.0M |
| FCF MarginFCF / Revenue | 9.6% | 19.3% |
| Capex IntensityCapex / Revenue | 1.0% | 0.4% |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $23.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $7.1M | ||
| Q3 25 | $-3.1M | $8.5M | ||
| Q2 25 | $4.1M | $7.0M | ||
| Q1 25 | — | $1.8M | ||
| Q4 24 | $9.0M | $7.9M | ||
| Q3 24 | $-3.0M | $9.8M | ||
| Q2 24 | $8.1M | $2.3M | ||
| Q1 24 | $6.5M | $377.0K |
| Q4 25 | $6.4M | $7.0M | ||
| Q3 25 | $-3.5M | $8.4M | ||
| Q2 25 | $4.0M | $6.8M | ||
| Q1 25 | — | $1.6M | ||
| Q4 24 | $8.9M | $7.4M | ||
| Q3 24 | $-3.2M | $9.8M | ||
| Q2 24 | $7.9M | $2.0M | ||
| Q1 24 | $5.7M | $195.0K |
| Q4 25 | 9.6% | 19.3% | ||
| Q3 25 | -10.9% | 23.1% | ||
| Q2 25 | 14.3% | 18.9% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | 13.2% | 21.9% | ||
| Q3 24 | -8.2% | 27.7% | ||
| Q2 24 | 28.9% | 5.9% | ||
| Q1 24 | 46.9% | 0.6% |
| Q4 25 | 1.0% | 0.4% | ||
| Q3 25 | 1.1% | 0.2% | ||
| Q2 25 | 0.5% | 0.6% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 0.2% | 1.6% | ||
| Q3 24 | 0.4% | 0.1% | ||
| Q2 24 | 0.7% | 1.0% | ||
| Q1 24 | 6.8% | 0.6% |
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | 3.76× | ||
| Q2 25 | 2.02× | 2.70× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | -0.35× | 5.45× | ||
| Q2 24 | — | 3.22× | ||
| Q1 24 | — | — |
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% |
INFU
| Patient Services | $20.0M | 55% |
| Device Solutions | $14.4M | 40% |
| Other | $1.9M | 5% |
