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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and Inogen Inc (INGN). Click either name above to swap in a different company.
Inogen Inc is the larger business by last-quarter revenue ($68.6M vs $66.9M, roughly 1.0× Energy Recovery, Inc.). On growth, Inogen Inc posted the faster year-over-year revenue change (3.4% vs -0.3%). Energy Recovery, Inc. produced more free cash flow last quarter ($6.4M vs $-1.9M). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs 4.2%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Inogen Inc is a medical technology firm specializing in the development, production and distribution of portable oxygen concentrators and associated respiratory care products. It caters primarily to patients with chronic respiratory conditions needing long-term oxygen therapy across North America, Europe and other global markets, focusing on home care and ambulatory patient segments to enhance users' quality of life.
ERII vs INGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $68.6M |
| Net Profit | $26.9M | — |
| Gross Margin | 67.2% | 51.4% |
| Operating Margin | 46.8% | -13.6% |
| Net Margin | 40.2% | — |
| Revenue YoY | -0.3% | 3.4% |
| Net Profit YoY | 14.7% | — |
| EPS (diluted) | $0.49 | $-0.26 |
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 | $68.6M | ||
| Q3 25 | $32.0M | $79.1M | ||
| Q2 25 | $28.1M | $79.2M | ||
| Q1 25 | — | $68.5M | ||
| Q4 24 | $67.1M | $66.3M | ||
| Q3 24 | $38.6M | $74.9M | ||
| Q2 24 | $27.2M | $74.4M | ||
| Q1 24 | $12.1M | $63.1M |
| Q4 25 | $26.9M | — | ||
| Q3 25 | $3.9M | $-5.3M | ||
| Q2 25 | $2.1M | $-4.2M | ||
| Q1 25 | — | $-6.2M | ||
| Q4 24 | $23.5M | — | ||
| Q3 24 | $8.5M | $-6.0M | ||
| Q2 24 | $-642.0K | $-5.6M | ||
| Q1 24 | $-8.3M | $-14.6M |
| Q4 25 | 67.2% | 51.4% | ||
| Q3 25 | 64.2% | 52.2% | ||
| Q2 25 | 64.0% | 52.2% | ||
| Q1 25 | — | 53.1% | ||
| Q4 24 | 70.2% | 54.7% | ||
| Q3 24 | 65.1% | 55.2% | ||
| Q2 24 | 64.6% | 57.4% | ||
| Q1 24 | 59.0% | 54.5% |
| Q4 25 | 46.8% | -13.6% | ||
| Q3 25 | 11.4% | -9.0% | ||
| Q2 25 | 5.3% | -7.7% | ||
| Q1 25 | — | -11.2% | ||
| Q4 24 | 38.2% | -17.2% | ||
| Q3 24 | 18.3% | -10.4% | ||
| Q2 24 | -7.4% | -9.5% | ||
| Q1 24 | -90.4% | -25.8% |
| Q4 25 | 40.2% | — | ||
| Q3 25 | 12.1% | -6.7% | ||
| Q2 25 | 7.3% | -5.2% | ||
| Q1 25 | — | -9.0% | ||
| Q4 24 | 35.0% | — | ||
| Q3 24 | 22.0% | -8.0% | ||
| Q2 24 | -2.4% | -7.5% | ||
| Q1 24 | -68.3% | -23.1% |
| Q4 25 | $0.49 | $-0.26 | ||
| Q3 25 | $0.07 | $-0.20 | ||
| Q2 25 | $0.04 | $-0.15 | ||
| Q1 25 | — | $-0.25 | ||
| Q4 24 | $0.40 | $-0.41 | ||
| Q3 24 | $0.15 | $-0.25 | ||
| Q2 24 | $-0.01 | $-0.24 | ||
| Q1 24 | $-0.14 | $-0.62 |
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 | $103.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $192.2M |
| Total Assets | $231.5M | $298.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $103.7M | ||
| Q3 25 | $70.4M | $106.5M | ||
| Q2 25 | $79.5M | $103.7M | ||
| Q1 25 | — | $118.9M | ||
| Q4 24 | $78.0M | $113.8M | ||
| Q3 24 | $118.6M | $105.7M | ||
| Q2 24 | $101.0M | $97.9M | ||
| Q1 24 | $117.4M | $107.4M |
| Q4 25 | $206.2M | $192.2M | ||
| Q3 25 | $180.8M | $197.2M | ||
| Q2 25 | $185.2M | $199.5M | ||
| Q1 25 | — | $198.0M | ||
| Q4 24 | $210.0M | $173.9M | ||
| Q3 24 | $233.9M | $185.4M | ||
| Q2 24 | $218.5M | $187.6M | ||
| Q1 24 | $216.0M | $191.9M |
| Q4 25 | $231.5M | $298.6M | ||
| Q3 25 | $209.6M | $307.0M | ||
| Q2 25 | $212.3M | $312.0M | ||
| Q1 25 | — | $308.4M | ||
| Q4 24 | $242.8M | $296.2M | ||
| Q3 24 | $262.7M | $306.2M | ||
| Q2 24 | $249.0M | $308.9M | ||
| Q1 24 | $244.3M | $315.6M |
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 | $-943.0K |
| Free Cash FlowOCF − Capex | $6.4M | $-1.9M |
| FCF MarginFCF / Revenue | 9.6% | -2.8% |
| Capex IntensityCapex / Revenue | 1.0% | 1.4% |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $-13.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $-943.0K | ||
| Q3 25 | $-3.1M | $2.2M | ||
| Q2 25 | $4.1M | $4.3M | ||
| Q1 25 | — | $-16.8M | ||
| Q4 24 | $9.0M | $-3.0M | ||
| Q3 24 | $-3.0M | $7.0M | ||
| Q2 24 | $8.1M | $6.7M | ||
| Q1 24 | $6.5M | $-4.7M |
| Q4 25 | $6.4M | $-1.9M | ||
| Q3 25 | $-3.5M | $1.6M | ||
| Q2 25 | $4.0M | $3.7M | ||
| Q1 25 | — | $-17.1M | ||
| Q4 24 | $8.9M | $-3.3M | ||
| Q3 24 | $-3.2M | $5.3M | ||
| Q2 24 | $7.9M | $6.6M | ||
| Q1 24 | $5.7M | $-6.1M |
| Q4 25 | 9.6% | -2.8% | ||
| Q3 25 | -10.9% | 2.0% | ||
| Q2 25 | 14.3% | 4.6% | ||
| Q1 25 | — | -24.9% | ||
| Q4 24 | 13.2% | -5.0% | ||
| Q3 24 | -8.2% | 7.1% | ||
| Q2 24 | 28.9% | 8.9% | ||
| Q1 24 | 46.9% | -9.6% |
| Q4 25 | 1.0% | 1.4% | ||
| Q3 25 | 1.1% | 0.7% | ||
| Q2 25 | 0.5% | 0.9% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 0.2% | 0.5% | ||
| Q3 24 | 0.4% | 2.2% | ||
| Q2 24 | 0.7% | 0.1% | ||
| Q1 24 | 6.8% | 2.1% |
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | -0.35× | — | ||
| Q2 24 | — | — | ||
| 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% |
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
