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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and PennyMac Mortgage Investment Trust (PMT). Click either name above to swap in a different company.
PennyMac Mortgage Investment Trust is the larger business by last-quarter revenue ($93.6M vs $66.9M, roughly 1.4× Energy Recovery, Inc.). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs 40.2%, a 15.7% gap on every dollar of revenue. On growth, Energy Recovery, Inc. posted the faster year-over-year revenue change (-0.3% vs -13.3%). Over the past eight quarters, PennyMac Mortgage Investment Trust's revenue compounded faster (12.3% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
ERII vs PMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $93.6M |
| Net Profit | $26.9M | $52.4M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | 38.6% |
| Net Margin | 40.2% | 56.0% |
| Revenue YoY | -0.3% | -13.3% |
| Net Profit YoY | 14.7% | 12.5% |
| EPS (diluted) | $0.49 | $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 | $93.6M | ||
| Q3 25 | $32.0M | $99.2M | ||
| Q2 25 | $28.1M | $70.2M | ||
| Q1 25 | — | $44.5M | ||
| Q4 24 | $67.1M | $107.9M | ||
| Q3 24 | $38.6M | $80.9M | ||
| Q2 24 | $27.2M | $71.2M | ||
| Q1 24 | $12.1M | $74.2M |
| Q4 25 | $26.9M | $52.4M | ||
| Q3 25 | $3.9M | $58.3M | ||
| Q2 25 | $2.1M | $7.5M | ||
| Q1 25 | — | $9.7M | ||
| Q4 24 | $23.5M | $46.5M | ||
| Q3 24 | $8.5M | $41.4M | ||
| Q2 24 | $-642.0K | $25.4M | ||
| Q1 24 | $-8.3M | $47.6M |
| 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% | 38.6% | ||
| Q3 25 | 11.4% | 47.4% | ||
| Q2 25 | 5.3% | 24.2% | ||
| Q1 25 | — | -14.2% | ||
| Q4 24 | 38.2% | 51.1% | ||
| Q3 24 | 18.3% | 32.8% | ||
| Q2 24 | -7.4% | 40.2% | ||
| Q1 24 | -90.4% | 43.6% |
| Q4 25 | 40.2% | 56.0% | ||
| Q3 25 | 12.1% | 58.7% | ||
| Q2 25 | 7.3% | 10.7% | ||
| Q1 25 | — | 21.8% | ||
| Q4 24 | 35.0% | 43.1% | ||
| Q3 24 | 22.0% | 51.2% | ||
| Q2 24 | -2.4% | 35.7% | ||
| Q1 24 | -68.3% | 64.2% |
| Q4 25 | $0.49 | $0.49 | ||
| Q3 25 | $0.07 | $0.55 | ||
| Q2 25 | $0.04 | $-0.04 | ||
| Q1 25 | — | $-0.01 | ||
| Q4 24 | $0.40 | $0.45 | ||
| Q3 24 | $0.15 | $0.36 | ||
| Q2 24 | $-0.01 | $0.17 | ||
| Q1 24 | $-0.14 | $0.39 |
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 | $190.5M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $206.2M | $1.9B |
| Total Assets | $231.5M | $21.3B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $190.5M | ||
| Q3 25 | $70.4M | $181.0M | ||
| Q2 25 | $79.5M | $108.6M | ||
| Q1 25 | — | $204.2M | ||
| Q4 24 | $78.0M | $103.2M | ||
| Q3 24 | $118.6M | $102.8M | ||
| Q2 24 | $101.0M | $336.3M | ||
| Q1 24 | $117.4M | $343.3M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $299.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $968.4M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.4B | ||
| Q1 24 | — | $5.1B |
| Q4 25 | $206.2M | $1.9B | ||
| Q3 25 | $180.8M | $1.9B | ||
| Q2 25 | $185.2M | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $210.0M | $1.9B | ||
| Q3 24 | $233.9M | $1.9B | ||
| Q2 24 | $218.5M | $1.9B | ||
| Q1 24 | $216.0M | $2.0B |
| Q4 25 | $231.5M | $21.3B | ||
| Q3 25 | $209.6M | $18.5B | ||
| Q2 25 | $212.3M | $16.8B | ||
| Q1 25 | — | $14.9B | ||
| Q4 24 | $242.8M | $14.4B | ||
| Q3 24 | $262.7M | $13.1B | ||
| Q2 24 | $249.0M | $12.1B | ||
| Q1 24 | $244.3M | $12.3B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 2.70× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 2.60× |
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 | $-7.2B |
| Free Cash FlowOCF − Capex | $6.4M | — |
| FCF MarginFCF / Revenue | 9.6% | — |
| Capex IntensityCapex / Revenue | 1.0% | — |
| Cash ConversionOCF / Net Profit | 0.26× | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $-7.2B | ||
| Q3 25 | $-3.1M | $-1.3B | ||
| Q2 25 | $4.1M | $-2.0B | ||
| Q1 25 | — | $-594.3M | ||
| Q4 24 | $9.0M | $-2.7B | ||
| Q3 24 | $-3.0M | $-983.8M | ||
| Q2 24 | $8.1M | $243.8M | ||
| Q1 24 | $6.5M | $-342.4M |
| 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% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 6.8% | — |
| Q4 25 | 0.26× | -137.76× | ||
| Q3 25 | -0.81× | -22.26× | ||
| Q2 25 | 2.02× | -267.53× | ||
| Q1 25 | — | -61.39× | ||
| Q4 24 | 0.38× | -58.08× | ||
| Q3 24 | -0.35× | -23.76× | ||
| Q2 24 | — | 9.59× | ||
| Q1 24 | — | -7.19× |
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% |
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
