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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and IRONWOOD PHARMACEUTICALS INC (IRWD). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $47.7M, roughly 1.4× IRONWOOD PHARMACEUTICALS INC). Energy Recovery, Inc. runs the higher net margin — 40.2% vs -4.8%, a 45.0% gap on every dollar of revenue. On growth, Energy Recovery, Inc. posted the faster year-over-year revenue change (-0.3% vs -47.3%). IRONWOOD PHARMACEUTICALS INC produced more free cash flow last quarter ($74.6M vs $6.4M). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs -20.2%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
ERII vs IRWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $47.7M |
| Net Profit | $26.9M | $-2.3M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | 14.3% |
| Net Margin | 40.2% | -4.8% |
| Revenue YoY | -0.3% | -47.3% |
| Net Profit YoY | 14.7% | -200.9% |
| EPS (diluted) | $0.49 | $0.01 |
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 | $47.7M | ||
| Q3 25 | $32.0M | $122.1M | ||
| Q2 25 | $28.1M | $85.2M | ||
| Q1 25 | — | $41.1M | ||
| Q4 24 | $67.1M | $90.5M | ||
| Q3 24 | $38.6M | $91.6M | ||
| Q2 24 | $27.2M | $94.4M | ||
| Q1 24 | $12.1M | $74.9M |
| Q4 25 | $26.9M | $-2.3M | ||
| Q3 25 | $3.9M | $40.1M | ||
| Q2 25 | $2.1M | $23.6M | ||
| Q1 25 | — | $-37.4M | ||
| Q4 24 | $23.5M | $2.3M | ||
| Q3 24 | $8.5M | $3.6M | ||
| Q2 24 | $-642.0K | $-860.0K | ||
| Q1 24 | $-8.3M | $-4.2M |
| 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% | 14.3% | ||
| Q3 25 | 11.4% | 61.8% | ||
| Q2 25 | 5.3% | 53.2% | ||
| Q1 25 | — | -70.7% | ||
| Q4 24 | 38.2% | 34.8% | ||
| Q3 24 | 18.3% | 28.0% | ||
| Q2 24 | -7.4% | 26.5% | ||
| Q1 24 | -90.4% | 14.7% |
| Q4 25 | 40.2% | -4.8% | ||
| Q3 25 | 12.1% | 32.8% | ||
| Q2 25 | 7.3% | 27.7% | ||
| Q1 25 | — | -90.9% | ||
| Q4 24 | 35.0% | 2.5% | ||
| Q3 24 | 22.0% | 4.0% | ||
| Q2 24 | -2.4% | -0.9% | ||
| Q1 24 | -68.3% | -5.6% |
| Q4 25 | $0.49 | $0.01 | ||
| Q3 25 | $0.07 | $0.23 | ||
| Q2 25 | $0.04 | $0.14 | ||
| Q1 25 | — | $-0.23 | ||
| Q4 24 | $0.40 | $0.03 | ||
| Q3 24 | $0.15 | $0.02 | ||
| Q2 24 | $-0.01 | $-0.01 | ||
| Q1 24 | $-0.14 | $-0.03 |
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 | $215.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $-261.8M |
| Total Assets | $231.5M | $396.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $215.5M | ||
| Q3 25 | $70.4M | $140.4M | ||
| Q2 25 | $79.5M | $92.9M | ||
| Q1 25 | — | $108.5M | ||
| Q4 24 | $78.0M | $88.6M | ||
| Q3 24 | $118.6M | $88.2M | ||
| Q2 24 | $101.0M | $105.5M | ||
| Q1 24 | $117.4M | $121.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $199.5M | ||
| Q2 25 | — | $199.3M | ||
| Q1 25 | — | $199.2M | ||
| Q4 24 | — | $199.0M | ||
| Q3 24 | — | $198.8M | ||
| Q2 24 | — | $198.6M | ||
| Q1 24 | — | $398.3M |
| Q4 25 | $206.2M | $-261.8M | ||
| Q3 25 | $180.8M | $-264.2M | ||
| Q2 25 | $185.2M | $-308.2M | ||
| Q1 25 | — | $-334.1M | ||
| Q4 24 | $210.0M | $-301.3M | ||
| Q3 24 | $233.9M | $-311.3M | ||
| Q2 24 | $218.5M | $-321.7M | ||
| Q1 24 | $216.0M | $-330.5M |
| Q4 25 | $231.5M | $396.9M | ||
| Q3 25 | $209.6M | $396.1M | ||
| Q2 25 | $212.3M | $342.9M | ||
| Q1 25 | — | $327.2M | ||
| Q4 24 | $242.8M | $350.9M | ||
| Q3 24 | $262.7M | $389.5M | ||
| Q2 24 | $249.0M | $395.6M | ||
| Q1 24 | $244.3M | $438.8M |
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 | $74.6M |
| Free Cash FlowOCF − Capex | $6.4M | $74.6M |
| FCF MarginFCF / Revenue | 9.6% | 156.3% |
| Capex IntensityCapex / Revenue | 1.0% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $127.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $74.6M | ||
| Q3 25 | $-3.1M | $47.6M | ||
| Q2 25 | $4.1M | $-15.1M | ||
| Q1 25 | — | $20.0M | ||
| Q4 24 | $9.0M | $15.2M | ||
| Q3 24 | $-3.0M | $9.9M | ||
| Q2 24 | $8.1M | $33.5M | ||
| Q1 24 | $6.5M | $45.0M |
| Q4 25 | $6.4M | $74.6M | ||
| Q3 25 | $-3.5M | $47.6M | ||
| Q2 25 | $4.0M | $-15.1M | ||
| Q1 25 | — | $19.9M | ||
| Q4 24 | $8.9M | — | ||
| Q3 24 | $-3.2M | $9.9M | ||
| Q2 24 | $7.9M | $33.4M | ||
| Q1 24 | $5.7M | $44.9M |
| Q4 25 | 9.6% | 156.3% | ||
| Q3 25 | -10.9% | 39.0% | ||
| Q2 25 | 14.3% | -17.7% | ||
| Q1 25 | — | 48.4% | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | -8.2% | 10.8% | ||
| Q2 24 | 28.9% | 35.4% | ||
| Q1 24 | 46.9% | 60.0% |
| Q4 25 | 1.0% | 0.0% | ||
| Q3 25 | 1.1% | 0.0% | ||
| Q2 25 | 0.5% | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 0.2% | 0.0% | ||
| Q3 24 | 0.4% | 0.0% | ||
| Q2 24 | 0.7% | 0.1% | ||
| Q1 24 | 6.8% | 0.1% |
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | 1.19× | ||
| Q2 25 | 2.02× | -0.64× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.38× | 6.74× | ||
| Q3 24 | -0.35× | 2.71× | ||
| 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% |
IRWD
Segment breakdown not available.
