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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and NETSTREIT Corp. (NTST). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $57.1M, roughly 1.2× NETSTREIT Corp.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 10.0%, a 30.2% gap on every dollar of revenue. On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs -0.3%). Over the past eight quarters, NETSTREIT Corp.'s revenue compounded faster (20.1% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
ERII vs NTST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $57.1M |
| Net Profit | $26.9M | $5.7M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | 34.1% |
| Net Margin | 40.2% | 10.0% |
| Revenue YoY | -0.3% | 24.3% |
| Net Profit YoY | 14.7% | 235.9% |
| EPS (diluted) | $0.49 | $0.32 |
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.
| Q1 26 | — | $57.1M | ||
| Q4 25 | $66.9M | $52.5M | ||
| Q3 25 | $32.0M | $48.3M | ||
| Q2 25 | $28.1M | $48.3M | ||
| Q1 25 | — | $45.9M | ||
| Q4 24 | $67.1M | $44.1M | ||
| Q3 24 | $38.6M | $41.4M | ||
| Q2 24 | $27.2M | $39.6M |
| Q1 26 | — | $5.7M | ||
| Q4 25 | $26.9M | $1.3M | ||
| Q3 25 | $3.9M | $618.0K | ||
| Q2 25 | $2.1M | $3.3M | ||
| Q1 25 | — | $1.7M | ||
| Q4 24 | $23.5M | $-5.4M | ||
| Q3 24 | $8.5M | $-5.3M | ||
| Q2 24 | $-642.0K | $-2.3M |
| Q1 26 | — | — | ||
| 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 26 | — | 34.1% | ||
| Q4 25 | 46.8% | 2.6% | ||
| Q3 25 | 11.4% | 1.3% | ||
| Q2 25 | 5.3% | 6.8% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | 38.2% | -12.3% | ||
| Q3 24 | 18.3% | -12.8% | ||
| Q2 24 | -7.4% | -5.8% |
| Q1 26 | — | 10.0% | ||
| Q4 25 | 40.2% | 2.5% | ||
| Q3 25 | 12.1% | 1.3% | ||
| Q2 25 | 7.3% | 6.8% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | 35.0% | -12.3% | ||
| Q3 24 | 22.0% | -12.8% | ||
| Q2 24 | -2.4% | -5.8% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $0.49 | $0.01 | ||
| Q3 25 | $0.07 | $0.01 | ||
| Q2 25 | $0.04 | $0.04 | ||
| Q1 25 | — | $0.02 | ||
| Q4 24 | $0.40 | $-0.07 | ||
| Q3 24 | $0.15 | $-0.07 | ||
| Q2 24 | $-0.01 | $-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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $1.5B |
| Total Assets | $231.5M | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $75.2M | — | ||
| Q3 25 | $70.4M | — | ||
| Q2 25 | $79.5M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $78.0M | — | ||
| Q3 24 | $118.6M | — | ||
| Q2 24 | $101.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $926.6M | ||
| Q1 25 | — | $913.3M | ||
| Q4 24 | — | $868.3M | ||
| Q3 24 | — | $778.7M | ||
| Q2 24 | — | $726.2M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $206.2M | $1.4B | ||
| Q3 25 | $180.8M | $1.3B | ||
| Q2 25 | $185.2M | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $210.0M | $1.3B | ||
| Q3 24 | $233.9M | $1.3B | ||
| Q2 24 | $218.5M | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $231.5M | $2.6B | ||
| Q3 25 | $209.6M | $2.5B | ||
| Q2 25 | $212.3M | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | $242.8M | $2.3B | ||
| Q3 24 | $262.7M | $2.2B | ||
| Q2 24 | $249.0M | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.84× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.55× |
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 | — |
| Free Cash FlowOCF − Capex | $6.4M | — |
| FCF MarginFCF / Revenue | 9.6% | — |
| Capex IntensityCapex / Revenue | 1.0% | — |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $7.1M | $109.5M | ||
| Q3 25 | $-3.1M | $28.0M | ||
| Q2 25 | $4.1M | $30.6M | ||
| Q1 25 | — | $22.1M | ||
| Q4 24 | $9.0M | $90.2M | ||
| Q3 24 | $-3.0M | $25.1M | ||
| Q2 24 | $8.1M | $25.4M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 1.0% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.26× | 82.46× | ||
| Q3 25 | -0.81× | 45.27× | ||
| Q2 25 | 2.02× | 9.36× | ||
| Q1 25 | — | 13.06× | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | -0.35× | — | ||
| Q2 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% |
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
