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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and NATURAL RESOURCE PARTNERS LP (NRP). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $51.3M, roughly 1.3× NATURAL RESOURCE PARTNERS LP). NATURAL RESOURCE PARTNERS LP runs the higher net margin — 78.5% vs 40.2%, a 38.3% gap on every dollar of revenue. On growth, Energy Recovery, Inc. posted the faster year-over-year revenue change (-0.3% vs -21.8%). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs -8.3%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Natural Resource Partners LP is a U.S.-headquartered master limited partnership that owns, manages and leases mineral reserve interests. Its asset portfolio covers coal, aggregates, industrial minerals and oil & gas, with operations primarily across North America, deriving most revenue from royalties paid by third-party resource extraction operators.
ERII vs NRP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $51.3M |
| Net Profit | $26.9M | $40.3M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | 83.7% |
| Net Margin | 40.2% | 78.5% |
| Revenue YoY | -0.3% | -21.8% |
| Net Profit YoY | 14.7% | -28.4% |
| EPS (diluted) | $0.49 | — |
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 | — | ||
| Q3 25 | $32.0M | — | ||
| Q2 25 | $28.1M | — | ||
| Q1 25 | — | $51.3M | ||
| Q4 24 | $67.1M | $61.8M | ||
| Q3 24 | $38.6M | $50.4M | ||
| Q2 24 | $27.2M | $54.6M | ||
| Q1 24 | $12.1M | $65.6M |
| Q4 25 | $26.9M | — | ||
| Q3 25 | $3.9M | — | ||
| Q2 25 | $2.1M | — | ||
| Q1 25 | — | $40.3M | ||
| Q4 24 | $23.5M | $42.8M | ||
| Q3 24 | $8.5M | $38.6M | ||
| Q2 24 | $-642.0K | $46.1M | ||
| Q1 24 | $-8.3M | $56.2M |
| 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% | — | ||
| Q3 25 | 11.4% | — | ||
| Q2 25 | 5.3% | — | ||
| Q1 25 | — | 83.7% | ||
| Q4 24 | 38.2% | 74.9% | ||
| Q3 24 | 18.3% | 84.9% | ||
| Q2 24 | -7.4% | 92.3% | ||
| Q1 24 | -90.4% | 91.0% |
| Q4 25 | 40.2% | — | ||
| Q3 25 | 12.1% | — | ||
| Q2 25 | 7.3% | — | ||
| Q1 25 | — | 78.5% | ||
| Q4 24 | 35.0% | 69.2% | ||
| Q3 24 | 22.0% | 76.6% | ||
| Q2 24 | -2.4% | 84.4% | ||
| Q1 24 | -68.3% | 85.7% |
| Q4 25 | $0.49 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.04 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0.40 | — | ||
| Q3 24 | $0.15 | — | ||
| Q2 24 | $-0.01 | — | ||
| Q1 24 | $-0.14 | — |
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 | $30.9M |
| Total DebtLower is stronger | — | $138.8M |
| Stockholders' EquityBook value | $206.2M | — |
| Total Assets | $231.5M | $772.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | — | ||
| Q3 25 | $70.4M | — | ||
| Q2 25 | $79.5M | — | ||
| Q1 25 | — | $30.9M | ||
| Q4 24 | $78.0M | $30.4M | ||
| Q3 24 | $118.6M | $30.9M | ||
| Q2 24 | $101.0M | $32.3M | ||
| Q1 24 | $117.4M | $11.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $138.8M | ||
| Q4 24 | — | $142.1M | ||
| Q3 24 | — | $197.4M | ||
| Q2 24 | — | $210.3M | ||
| Q1 24 | — | $188.8M |
| Q4 25 | $206.2M | — | ||
| Q3 25 | $180.8M | — | ||
| Q2 25 | $185.2M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $210.0M | — | ||
| Q3 24 | $233.9M | — | ||
| Q2 24 | $218.5M | — | ||
| Q1 24 | $216.0M | — |
| Q4 25 | $231.5M | — | ||
| Q3 25 | $209.6M | — | ||
| Q2 25 | $212.3M | — | ||
| Q1 25 | — | $772.5M | ||
| Q4 24 | $242.8M | $772.9M | ||
| Q3 24 | $262.7M | $772.9M | ||
| Q2 24 | $249.0M | $789.6M | ||
| Q1 24 | $244.3M | $772.9M |
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 | $34.4M |
| Free Cash FlowOCF − Capex | $6.4M | — |
| FCF MarginFCF / Revenue | 9.6% | — |
| Capex IntensityCapex / Revenue | 1.0% | — |
| Cash ConversionOCF / Net Profit | 0.26× | 0.86× |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | — | ||
| Q3 25 | $-3.1M | — | ||
| Q2 25 | $4.1M | — | ||
| Q1 25 | — | $34.4M | ||
| Q4 24 | $9.0M | $66.2M | ||
| Q3 24 | $-3.0M | $54.1M | ||
| Q2 24 | $8.1M | $56.6M | ||
| Q1 24 | $6.5M | $71.5M |
| Q4 25 | $6.4M | — | ||
| Q3 25 | $-3.5M | — | ||
| Q2 25 | $4.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.9M | — | ||
| Q3 24 | $-3.2M | — | ||
| Q2 24 | $7.9M | — | ||
| Q1 24 | $5.7M | — |
| Q4 25 | 9.6% | — | ||
| Q3 25 | -10.9% | — | ||
| Q2 25 | 14.3% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | -8.2% | — | ||
| Q2 24 | 28.9% | — | ||
| Q1 24 | 46.9% | — |
| Q4 25 | 1.0% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.2% | 0.0% | ||
| Q3 24 | 0.4% | 0.0% | ||
| Q2 24 | 0.7% | 0.0% | ||
| Q1 24 | 6.8% | 0.0% |
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | 0.38× | 1.55× | ||
| Q3 24 | -0.35× | 1.40× | ||
| Q2 24 | — | 1.23× | ||
| Q1 24 | — | 1.27× |
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% |
NRP
| Coal Royalty Revenues | $35.5M | 69% |
| Soda Ash Segment | $4.6M | 9% |
| Transportation And Processing Services | $4.4M | 9% |
| Production Lease Minimum Revenues | $2.7M | 5% |
| Oil And Gas Royalty Revenues | $2.4M | 5% |
| Other | $1.6M | 3% |
