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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
SHENANDOAH TELECOMMUNICATIONS CO is the larger business by last-quarter revenue ($91.6M vs $66.9M, roughly 1.4× Energy Recovery, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs -5.9%, a 46.1% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs -0.3%). Energy Recovery, Inc. produced more free cash flow last quarter ($6.4M vs $-78.6M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
ERII vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $91.6M |
| Net Profit | $26.9M | $-5.4M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | -1.0% |
| Net Margin | 40.2% | -5.9% |
| Revenue YoY | -0.3% | 7.2% |
| Net Profit YoY | 14.7% | -95.8% |
| EPS (diluted) | $0.49 | $-0.13 |
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 | $91.6M | ||
| Q3 25 | $32.0M | $89.8M | ||
| Q2 25 | $28.1M | $88.6M | ||
| Q1 25 | — | $87.9M | ||
| Q4 24 | $67.1M | $85.4M | ||
| Q3 24 | $38.6M | $87.6M | ||
| Q2 24 | $27.2M | $85.8M | ||
| Q1 24 | $12.1M | $69.2M |
| Q4 25 | $26.9M | $-5.4M | ||
| Q3 25 | $3.9M | $-9.4M | ||
| Q2 25 | $2.1M | $-9.0M | ||
| Q1 25 | — | $-9.1M | ||
| Q4 24 | $23.5M | $-2.7M | ||
| Q3 24 | $8.5M | $-5.3M | ||
| Q2 24 | $-642.0K | $-12.9M | ||
| Q1 24 | $-8.3M | $214.7M |
| 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% | -1.0% | ||
| Q3 25 | 11.4% | -8.0% | ||
| Q2 25 | 5.3% | -10.3% | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | 38.2% | -6.7% | ||
| Q3 24 | 18.3% | -4.8% | ||
| Q2 24 | -7.4% | -18.5% | ||
| Q1 24 | -90.4% | -4.0% |
| Q4 25 | 40.2% | -5.9% | ||
| Q3 25 | 12.1% | -10.5% | ||
| Q2 25 | 7.3% | -10.2% | ||
| Q1 25 | — | -10.4% | ||
| Q4 24 | 35.0% | -3.2% | ||
| Q3 24 | 22.0% | -6.0% | ||
| Q2 24 | -2.4% | -15.0% | ||
| Q1 24 | -68.3% | 310.0% |
| Q4 25 | $0.49 | $-0.13 | ||
| Q3 25 | $0.07 | $-0.20 | ||
| Q2 25 | $0.04 | $-0.19 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | $0.40 | $-0.34 | ||
| Q3 24 | $0.15 | $-0.13 | ||
| Q2 24 | $-0.01 | $-0.24 | ||
| Q1 24 | $-0.14 | $4.25 |
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 | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $206.2M | $880.8M |
| Total Assets | $231.5M | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $27.3M | ||
| Q3 25 | $70.4M | $22.6M | ||
| Q2 25 | $79.5M | $29.1M | ||
| Q1 25 | — | $87.5M | ||
| Q4 24 | $78.0M | $46.3M | ||
| Q3 24 | $118.6M | $43.1M | ||
| Q2 24 | $101.0M | $43.8M | ||
| Q1 24 | $117.4M | $389.7M |
| Q4 25 | — | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | — | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | — | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $206.2M | $880.8M | ||
| Q3 25 | $180.8M | $892.7M | ||
| Q2 25 | $185.2M | $902.0M | ||
| Q1 25 | — | $910.5M | ||
| Q4 24 | $210.0M | $918.6M | ||
| Q3 24 | $233.9M | $925.4M | ||
| Q2 24 | $218.5M | $933.1M | ||
| Q1 24 | $216.0M | $871.6M |
| Q4 25 | $231.5M | $1.9B | ||
| Q3 25 | $209.6M | $1.9B | ||
| Q2 25 | $212.3M | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $242.8M | $1.7B | ||
| Q3 24 | $262.7M | $1.7B | ||
| Q2 24 | $249.0M | $1.7B | ||
| Q1 24 | $244.3M | $1.4B |
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.34× |
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 | $28.8M |
| Free Cash FlowOCF − Capex | $6.4M | $-78.6M |
| FCF MarginFCF / Revenue | 9.6% | -85.8% |
| Capex IntensityCapex / Revenue | 1.0% | 117.2% |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $28.8M | ||
| Q3 25 | $-3.1M | $30.7M | ||
| Q2 25 | $4.1M | $20.9M | ||
| Q1 25 | — | $20.5M | ||
| Q4 24 | $9.0M | $20.6M | ||
| Q3 24 | $-3.0M | $24.3M | ||
| Q2 24 | $8.1M | $2.5M | ||
| Q1 24 | $6.5M | $15.2M |
| Q4 25 | $6.4M | $-78.6M | ||
| Q3 25 | $-3.5M | $-51.4M | ||
| Q2 25 | $4.0M | $-65.3M | ||
| Q1 25 | — | $-62.7M | ||
| Q4 24 | $8.9M | $-72.0M | ||
| Q3 24 | $-3.2M | $-51.3M | ||
| Q2 24 | $7.9M | $-78.3M | ||
| Q1 24 | $5.7M | $-54.9M |
| Q4 25 | 9.6% | -85.8% | ||
| Q3 25 | -10.9% | -57.2% | ||
| Q2 25 | 14.3% | -73.7% | ||
| Q1 25 | — | -71.3% | ||
| Q4 24 | 13.2% | -84.3% | ||
| Q3 24 | -8.2% | -58.5% | ||
| Q2 24 | 28.9% | -91.3% | ||
| Q1 24 | 46.9% | -79.3% |
| Q4 25 | 1.0% | 117.2% | ||
| Q3 25 | 1.1% | 91.4% | ||
| Q2 25 | 0.5% | 97.3% | ||
| Q1 25 | — | 94.7% | ||
| Q4 24 | 0.2% | 108.4% | ||
| Q3 24 | 0.4% | 86.2% | ||
| Q2 24 | 0.7% | 94.2% | ||
| Q1 24 | 6.8% | 101.2% |
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | -0.35× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.07× |
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% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
