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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and NATHANS FAMOUS, INC. (NATH). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $34.3M, roughly 1.9× NATHANS FAMOUS, INC.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 9.0%, a 31.3% gap on every dollar of revenue. On growth, NATHANS FAMOUS, INC. posted the faster year-over-year revenue change (8.9% vs -0.3%). Energy Recovery, Inc. produced more free cash flow last quarter ($6.4M vs $5.7M). Over the past eight quarters, NATHANS FAMOUS, INC.'s revenue compounded faster (8.8% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Nathan's Famous, Inc., is an American company that operates a chain of fast-food restaurants specializing in hot dogs. The original Nathan's restaurant stands at the corner of Surf and Stillwell avenues in the Coney Island neighborhood of Brooklyn, New York City. Its restaurants are primarily in the Northeastern United States. The company's headquarters are at One Jericho Plaza in Jericho, part of Oyster Bay, New York.
ERII vs NATH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $34.3M |
| Net Profit | $26.9M | $3.1M |
| Gross Margin | 67.2% | 32.6% |
| Operating Margin | 46.8% | 14.9% |
| Net Margin | 40.2% | 9.0% |
| Revenue YoY | -0.3% | 8.9% |
| Net Profit YoY | 14.7% | -31.2% |
| EPS (diluted) | $0.49 | $0.75 |
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 | $34.3M | ||
| Q3 25 | $32.0M | $45.7M | ||
| Q2 25 | $28.1M | $47.0M | ||
| Q1 25 | — | $30.8M | ||
| Q4 24 | $67.1M | $31.5M | ||
| Q3 24 | $38.6M | $41.1M | ||
| Q2 24 | $27.2M | $44.8M | ||
| Q1 24 | $12.1M | $29.0M |
| Q4 25 | $26.9M | $3.1M | ||
| Q3 25 | $3.9M | $5.2M | ||
| Q2 25 | $2.1M | $8.9M | ||
| Q1 25 | — | $4.2M | ||
| Q4 24 | $23.5M | $4.5M | ||
| Q3 24 | $8.5M | $6.0M | ||
| Q2 24 | $-642.0K | $9.3M | ||
| Q1 24 | $-8.3M | $3.9M |
| Q4 25 | 67.2% | 32.6% | ||
| Q3 25 | 64.2% | 29.1% | ||
| Q2 25 | 64.0% | 39.5% | ||
| Q1 25 | — | 38.7% | ||
| Q4 24 | 70.2% | 37.9% | ||
| Q3 24 | 65.1% | 36.7% | ||
| Q2 24 | 64.6% | 43.6% | ||
| Q1 24 | 59.0% | 43.3% |
| Q4 25 | 46.8% | 14.9% | ||
| Q3 25 | 11.4% | 16.4% | ||
| Q2 25 | 5.3% | 27.2% | ||
| Q1 25 | — | 20.7% | ||
| Q4 24 | 38.2% | 21.4% | ||
| Q3 24 | 18.3% | 23.4% | ||
| Q2 24 | -7.4% | 30.7% | ||
| Q1 24 | -90.4% | 23.5% |
| Q4 25 | 40.2% | 9.0% | ||
| Q3 25 | 12.1% | 11.4% | ||
| Q2 25 | 7.3% | 19.0% | ||
| Q1 25 | — | 13.8% | ||
| Q4 24 | 35.0% | 14.2% | ||
| Q3 24 | 22.0% | 14.7% | ||
| Q2 24 | -2.4% | 20.7% | ||
| Q1 24 | -68.3% | 13.5% |
| Q4 25 | $0.49 | $0.75 | ||
| Q3 25 | $0.07 | $1.26 | ||
| Q2 25 | $0.04 | $2.16 | ||
| Q1 25 | — | $1.03 | ||
| Q4 24 | $0.40 | $1.10 | ||
| Q3 24 | $0.15 | $1.47 | ||
| Q2 24 | $-0.01 | $2.27 | ||
| Q1 24 | $-0.14 | $0.95 |
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 | $24.5M |
| Total DebtLower is stronger | — | $48.7M |
| Stockholders' EquityBook value | $206.2M | $-15.3M |
| Total Assets | $231.5M | $50.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $24.5M | ||
| Q3 25 | $70.4M | $32.2M | ||
| Q2 25 | $79.5M | $26.9M | ||
| Q1 25 | — | $27.8M | ||
| Q4 24 | $78.0M | $23.7M | ||
| Q3 24 | $118.6M | $31.2M | ||
| Q2 24 | $101.0M | $26.0M | ||
| Q1 24 | $117.4M | $21.0M |
| Q4 25 | — | $48.7M | ||
| Q3 25 | — | $49.3M | ||
| Q2 25 | — | $49.9M | ||
| Q1 25 | — | $50.5M | ||
| Q4 24 | — | $51.1M | ||
| Q3 24 | — | $59.6M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $59.6M |
| Q4 25 | $206.2M | $-15.3M | ||
| Q3 25 | $180.8M | $-5.9M | ||
| Q2 25 | $185.2M | $-9.3M | ||
| Q1 25 | — | $-16.5M | ||
| Q4 24 | $210.0M | $-19.0M | ||
| Q3 24 | $233.9M | $-21.3M | ||
| Q2 24 | $218.5M | $-25.5M | ||
| Q1 24 | $216.0M | $-32.9M |
| Q4 25 | $231.5M | $50.9M | ||
| Q3 25 | $209.6M | $62.9M | ||
| Q2 25 | $212.3M | $63.4M | ||
| Q1 25 | — | $53.5M | ||
| Q4 24 | $242.8M | $48.7M | ||
| Q3 24 | $262.7M | $57.7M | ||
| Q2 24 | $249.0M | $58.5M | ||
| Q1 24 | $244.3M | $48.9M |
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 | $5.8M |
| Free Cash FlowOCF − Capex | $6.4M | $5.7M |
| FCF MarginFCF / Revenue | 9.6% | 16.6% |
| Capex IntensityCapex / Revenue | 1.0% | 0.2% |
| Cash ConversionOCF / Net Profit | 0.26× | 1.87× |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $22.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $5.8M | ||
| Q3 25 | $-3.1M | $10.2M | ||
| Q2 25 | $4.1M | $-220.0K | ||
| Q1 25 | — | $6.8M | ||
| Q4 24 | $9.0M | $3.6M | ||
| Q3 24 | $-3.0M | $9.8M | ||
| Q2 24 | $8.1M | $5.0M | ||
| Q1 24 | $6.5M | $6.4M |
| Q4 25 | $6.4M | $5.7M | ||
| Q3 25 | $-3.5M | $10.0M | ||
| Q2 25 | $4.0M | $-335.0K | ||
| Q1 25 | — | $6.7M | ||
| Q4 24 | $8.9M | $3.6M | ||
| Q3 24 | $-3.2M | $9.7M | ||
| Q2 24 | $7.9M | $5.0M | ||
| Q1 24 | $5.7M | $6.3M |
| Q4 25 | 9.6% | 16.6% | ||
| Q3 25 | -10.9% | 21.9% | ||
| Q2 25 | 14.3% | -0.7% | ||
| Q1 25 | — | 21.9% | ||
| Q4 24 | 13.2% | 11.4% | ||
| Q3 24 | -8.2% | 23.7% | ||
| Q2 24 | 28.9% | 11.1% | ||
| Q1 24 | 46.9% | 21.9% |
| Q4 25 | 1.0% | 0.2% | ||
| Q3 25 | 1.1% | 0.4% | ||
| Q2 25 | 0.5% | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.2% | 0.1% | ||
| Q3 24 | 0.4% | 0.2% | ||
| Q2 24 | 0.7% | 0.1% | ||
| Q1 24 | 6.8% | 0.2% |
| Q4 25 | 0.26× | 1.87× | ||
| Q3 25 | -0.81× | 1.95× | ||
| Q2 25 | 2.02× | -0.02× | ||
| Q1 25 | — | 1.60× | ||
| Q4 24 | 0.38× | 0.81× | ||
| Q3 24 | -0.35× | 1.63× | ||
| Q2 24 | — | 0.54× | ||
| Q1 24 | — | 1.64× |
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% |
NATH
| Branded Product Program | $23.7M | 69% |
| Product Licensing | $7.4M | 22% |
| Company Operated Restaurants | $1.6M | 5% |
| Franchise Fees And Royalties | $1.0M | 3% |
