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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and SMARTFINANCIAL INC. (SMBK). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $53.8M, roughly 1.2× SMARTFINANCIAL INC.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 25.4%, a 14.8% gap on every dollar of revenue. Over the past eight quarters, SMARTFINANCIAL INC.'s revenue compounded faster (15.4% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
SmartFinancial Inc. is a U.S.-based bank holding company that operates its wholly owned subsidiary SmartBank. It offers a full range of retail and commercial banking products including deposit accounts, personal and business loans, mortgage services, and wealth management solutions, primarily serving individual customers and small-to-medium enterprises across the Southeastern United States.
ERII vs SMBK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $53.8M |
| Net Profit | $26.9M | $13.7M |
| Gross Margin | 67.2% | — |
| Operating Margin | 46.8% | — |
| Net Margin | 40.2% | 25.4% |
| Revenue YoY | -0.3% | — |
| Net Profit YoY | 14.7% | 21.6% |
| EPS (diluted) | $0.49 | $0.81 |
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 | — | $53.8M | ||
| Q4 25 | $66.9M | $53.3M | ||
| Q3 25 | $32.0M | $51.1M | ||
| Q2 25 | $28.1M | $49.2M | ||
| Q1 25 | — | $46.8M | ||
| Q4 24 | $67.1M | $46.8M | ||
| Q3 24 | $38.6M | $44.2M | ||
| Q2 24 | $27.2M | $40.4M |
| Q1 26 | — | $13.7M | ||
| Q4 25 | $26.9M | $13.7M | ||
| Q3 25 | $3.9M | $13.7M | ||
| Q2 25 | $2.1M | $11.7M | ||
| Q1 25 | — | $11.3M | ||
| Q4 24 | $23.5M | $9.6M | ||
| Q3 24 | $8.5M | $9.1M | ||
| Q2 24 | $-642.0K | $8.0M |
| 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 | — | — | ||
| Q4 25 | 46.8% | 31.3% | ||
| Q3 25 | 11.4% | 33.2% | ||
| Q2 25 | 5.3% | 29.0% | ||
| Q1 25 | — | 29.0% | ||
| Q4 24 | 38.2% | 26.5% | ||
| Q3 24 | 18.3% | 24.3% | ||
| Q2 24 | -7.4% | 25.6% |
| Q1 26 | — | 25.4% | ||
| Q4 25 | 40.2% | 25.7% | ||
| Q3 25 | 12.1% | 26.8% | ||
| Q2 25 | 7.3% | 23.8% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | 35.0% | 20.6% | ||
| Q3 24 | 22.0% | 20.7% | ||
| Q2 24 | -2.4% | 19.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | $0.49 | $0.81 | ||
| Q3 25 | $0.07 | $0.81 | ||
| Q2 25 | $0.04 | $0.69 | ||
| Q1 25 | — | $0.67 | ||
| Q4 24 | $0.40 | $0.57 | ||
| Q3 24 | $0.15 | $0.54 | ||
| Q2 24 | $-0.01 | $0.48 |
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 | $346.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $562.2M |
| Total Assets | $231.5M | $5.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $346.1M | ||
| Q4 25 | $75.2M | $464.4M | ||
| Q3 25 | $70.4M | $557.1M | ||
| Q2 25 | $79.5M | $365.1M | ||
| Q1 25 | — | $423.0M | ||
| Q4 24 | $78.0M | $387.6M | ||
| Q3 24 | $118.6M | $192.9M | ||
| Q2 24 | $101.0M | $342.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.3M | ||
| Q2 25 | — | $7.0M | ||
| Q1 25 | — | $7.6M | ||
| Q4 24 | — | $8.1M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | — | $12.7M |
| Q1 26 | — | $562.2M | ||
| Q4 25 | $206.2M | $552.4M | ||
| Q3 25 | $180.8M | $538.4M | ||
| Q2 25 | $185.2M | $519.0M | ||
| Q1 25 | — | $505.8M | ||
| Q4 24 | $210.0M | $491.3M | ||
| Q3 24 | $233.9M | $489.0M | ||
| Q2 24 | $218.5M | $472.5M |
| Q1 26 | — | $5.9B | ||
| Q4 25 | $231.5M | $5.9B | ||
| Q3 25 | $209.6M | $5.8B | ||
| Q2 25 | $212.3M | $5.5B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | $242.8M | $5.3B | ||
| Q3 24 | $262.7M | $4.9B | ||
| Q2 24 | $249.0M | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | — | 0.02× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 0.03× |
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 | $61.7M | ||
| Q3 25 | $-3.1M | $16.9M | ||
| Q2 25 | $4.1M | $14.0M | ||
| Q1 25 | — | $14.3M | ||
| Q4 24 | $9.0M | $52.7M | ||
| Q3 24 | $-3.0M | $12.4M | ||
| Q2 24 | $8.1M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | $6.4M | $59.3M | ||
| Q3 25 | $-3.5M | $16.6M | ||
| Q2 25 | $4.0M | $13.2M | ||
| Q1 25 | — | $13.4M | ||
| Q4 24 | $8.9M | $46.3M | ||
| Q3 24 | $-3.2M | $11.3M | ||
| Q2 24 | $7.9M | $15.4M |
| Q1 26 | — | — | ||
| Q4 25 | 9.6% | 111.3% | ||
| Q3 25 | -10.9% | 32.4% | ||
| Q2 25 | 14.3% | 26.9% | ||
| Q1 25 | — | 28.5% | ||
| Q4 24 | 13.2% | 98.9% | ||
| Q3 24 | -8.2% | 25.7% | ||
| Q2 24 | 28.9% | 38.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 4.5% | ||
| Q3 25 | 1.1% | 0.6% | ||
| Q2 25 | 0.5% | 1.6% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | 0.2% | 13.7% | ||
| Q3 24 | 0.4% | 2.4% | ||
| Q2 24 | 0.7% | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.26× | 4.50× | ||
| Q3 25 | -0.81× | 1.23× | ||
| Q2 25 | 2.02× | 1.20× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | 0.38× | 5.47× | ||
| Q3 24 | -0.35× | 1.36× | ||
| Q2 24 | — | 2.07× |
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% |
SMBK
| Net Interest Income | $45.9M | 85% |
| Noninterest Income | $7.9M | 15% |
