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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and VIEMED HEALTHCARE, INC. (VMD). Click either name above to swap in a different company.
VIEMED HEALTHCARE, INC. is the larger business by last-quarter revenue ($76.2M vs $66.9M, roughly 1.1× Energy Recovery, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 7.4%, a 32.8% gap on every dollar of revenue. On growth, VIEMED HEALTHCARE, INC. posted the faster year-over-year revenue change (25.5% vs -0.3%). VIEMED HEALTHCARE, INC. produced more free cash flow last quarter ($9.7M vs $6.4M). Over the past eight quarters, VIEMED HEALTHCARE, INC.'s revenue compounded faster (22.7% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Viemed Healthcare, Inc. is a medical technology firm specializing in respiratory care solutions. It develops, manufactures and distributes portable ventilators, respiratory therapy devices and related support services, catering to acute care, post-acute care and home care segments across North America, Europe and key Asia-Pacific markets for patients with respiratory conditions.
ERII vs VMD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $76.2M |
| Net Profit | $26.9M | $5.6M |
| Gross Margin | 67.2% | 57.9% |
| Operating Margin | 46.8% | 11.0% |
| Net Margin | 40.2% | 7.4% |
| Revenue YoY | -0.3% | 25.5% |
| Net Profit YoY | 14.7% | 30.7% |
| EPS (diluted) | $0.49 | $0.14 |
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 | $76.2M | ||
| Q3 25 | $32.0M | $71.9M | ||
| Q2 25 | $28.1M | $63.1M | ||
| Q1 25 | — | $59.1M | ||
| Q4 24 | $67.1M | $60.7M | ||
| Q3 24 | $38.6M | $58.0M | ||
| Q2 24 | $27.2M | $55.0M | ||
| Q1 24 | $12.1M | $50.6M |
| Q4 25 | $26.9M | $5.6M | ||
| Q3 25 | $3.9M | $3.5M | ||
| Q2 25 | $2.1M | $3.2M | ||
| Q1 25 | — | $2.6M | ||
| Q4 24 | $23.5M | $4.3M | ||
| Q3 24 | $8.5M | $3.9M | ||
| Q2 24 | $-642.0K | $1.5M | ||
| Q1 24 | $-8.3M | $1.6M |
| Q4 25 | 67.2% | 57.9% | ||
| Q3 25 | 64.2% | 57.5% | ||
| Q2 25 | 64.0% | 58.3% | ||
| Q1 25 | — | 56.3% | ||
| Q4 24 | 70.2% | 59.5% | ||
| Q3 24 | 65.1% | 59.3% | ||
| Q2 24 | 64.6% | 59.8% | ||
| Q1 24 | 59.0% | 58.9% |
| Q4 25 | 46.8% | 11.0% | ||
| Q3 25 | 11.4% | 7.8% | ||
| Q2 25 | 5.3% | 8.1% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | 38.2% | 10.6% | ||
| Q3 24 | 18.3% | 9.7% | ||
| Q2 24 | -7.4% | 6.6% | ||
| Q1 24 | -90.4% | 4.4% |
| Q4 25 | 40.2% | 7.4% | ||
| Q3 25 | 12.1% | 4.9% | ||
| Q2 25 | 7.3% | 5.0% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | 35.0% | 7.1% | ||
| Q3 24 | 22.0% | 6.7% | ||
| Q2 24 | -2.4% | 2.7% | ||
| Q1 24 | -68.3% | 3.2% |
| Q4 25 | $0.49 | $0.14 | ||
| Q3 25 | $0.07 | $0.09 | ||
| Q2 25 | $0.04 | $0.08 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | $0.40 | $0.10 | ||
| Q3 24 | $0.15 | $0.10 | ||
| Q2 24 | $-0.01 | $0.04 | ||
| Q1 24 | $-0.14 | $0.04 |
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 | $13.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $141.5M |
| Total Assets | $231.5M | $199.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $13.5M | ||
| Q3 25 | $70.4M | $11.1M | ||
| Q2 25 | $79.5M | $20.0M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | $78.0M | $17.5M | ||
| Q3 24 | $118.6M | $11.3M | ||
| Q2 24 | $101.0M | $8.8M | ||
| Q1 24 | $117.4M | $7.3M |
| Q4 25 | $206.2M | $141.5M | ||
| Q3 25 | $180.8M | $133.6M | ||
| Q2 25 | $185.2M | $139.7M | ||
| Q1 25 | — | $134.8M | ||
| Q4 24 | $210.0M | $131.4M | ||
| Q3 24 | $233.9M | $125.0M | ||
| Q2 24 | $218.5M | $119.4M | ||
| Q1 24 | $216.0M | $116.3M |
| Q4 25 | $231.5M | $199.2M | ||
| Q3 25 | $209.6M | $202.4M | ||
| Q2 25 | $212.3M | $184.6M | ||
| Q1 25 | — | $178.1M | ||
| Q4 24 | $242.8M | $177.1M | ||
| Q3 24 | $262.7M | $169.5M | ||
| Q2 24 | $249.0M | $163.9M | ||
| Q1 24 | $244.3M | $154.9M |
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 | $18.4M |
| Free Cash FlowOCF − Capex | $6.4M | $9.7M |
| FCF MarginFCF / Revenue | 9.6% | 12.7% |
| Capex IntensityCapex / Revenue | 1.0% | 11.5% |
| Cash ConversionOCF / Net Profit | 0.26× | 3.27× |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $11.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $18.4M | ||
| Q3 25 | $-3.1M | $18.4M | ||
| Q2 25 | $4.1M | $12.3M | ||
| Q1 25 | — | $2.9M | ||
| Q4 24 | $9.0M | $15.0M | ||
| Q3 24 | $-3.0M | $12.7M | ||
| Q2 24 | $8.1M | $10.2M | ||
| Q1 24 | $6.5M | $1.2M |
| Q4 25 | $6.4M | $9.7M | ||
| Q3 25 | $-3.5M | $10.7M | ||
| Q2 25 | $4.0M | $4.1M | ||
| Q1 25 | — | $-12.6M | ||
| Q4 24 | $8.9M | $3.2M | ||
| Q3 24 | $-3.2M | $1.7M | ||
| Q2 24 | $7.9M | $1.2M | ||
| Q1 24 | $5.7M | $-4.8M |
| Q4 25 | 9.6% | 12.7% | ||
| Q3 25 | -10.9% | 14.9% | ||
| Q2 25 | 14.3% | 6.5% | ||
| Q1 25 | — | -21.4% | ||
| Q4 24 | 13.2% | 5.2% | ||
| Q3 24 | -8.2% | 3.0% | ||
| Q2 24 | 28.9% | 2.3% | ||
| Q1 24 | 46.9% | -9.5% |
| Q4 25 | 1.0% | 11.5% | ||
| Q3 25 | 1.1% | 10.6% | ||
| Q2 25 | 0.5% | 12.9% | ||
| Q1 25 | — | 26.2% | ||
| Q4 24 | 0.2% | 19.5% | ||
| Q3 24 | 0.4% | 19.0% | ||
| Q2 24 | 0.7% | 16.3% | ||
| Q1 24 | 6.8% | 11.9% |
| Q4 25 | 0.26× | 3.27× | ||
| Q3 25 | -0.81× | 5.23× | ||
| Q2 25 | 2.02× | 3.88× | ||
| Q1 25 | — | 1.09× | ||
| Q4 24 | 0.38× | 3.47× | ||
| Q3 24 | -0.35× | 3.29× | ||
| Q2 24 | — | 6.94× | ||
| Q1 24 | — | 0.73× |
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% |
VMD
Segment breakdown not available.
