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Energy Recovery, Inc.（ERII）与VEECO INSTRUMENTS INC（VECO）财务数据对比。点击上方公司名可切换其他公司
VEECO INSTRUMENTS INC的季度营收约是Energy Recovery, Inc.的2.5倍（$165.0M vs $66.9M）。Energy Recovery, Inc.净利率更高（40.2% vs 0.7%，领先39.6%）。Energy Recovery, Inc.同比增速更快（-0.3% vs -9.4%）。VEECO INSTRUMENTS INC自由现金流更多（$21.7M vs $6.4M）。过去两年Energy Recovery, Inc.的营收复合增速更高（135.2% vs -2.8%）
Energy Recovery, Inc.是一家美国制造商，专注生产为水务及二氧化碳制冷行业提供的能量回收装置，产品可帮助相关行业在工艺流程中回收利用富余能量，助力客户降低能耗成本，提升运营的绿色低碳水平，在细分领域拥有领先的技术积累。
维易科仪器公司是全球领先的资本设备供应商，总部位于美国，专注于设计和制造半导体及化合物半导体制造、数据存储、科研领域使用的工艺系统，产品广泛应用于先进封装、光子学、电力电子和显示技术等前沿领域。
ERII vs VECO — 直观对比
营收规模更大
VECO
是对方的2.5倍
$66.9M
营收增速更快
ERII
高出9.1%
-9.4%
净利率更高
ERII
高出39.6%
0.7%
自由现金流更多
VECO
多$15.2M
$6.4M
两年增速更快
ERII
近两年复合增速
-2.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $66.9M | $165.0M |
| 净利润 | $26.9M | $1.1M |
| 毛利率 | 67.2% | 36.7% |
| 营业利润率 | 46.8% | -0.8% |
| 净利率 | 40.2% | 0.7% |
| 营收同比 | -0.3% | -9.4% |
| 净利润同比 | 14.7% | -92.6% |
| 每股收益（稀释后） | $0.49 | $0.02 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ERIIVECO
| Q4 25 | $66.9M | $165.0M | ||
| Q3 25 | $32.0M | $165.9M | ||
| Q2 25 | $28.1M | $166.1M | ||
| Q1 25 | $8.1M | $167.3M | ||
| Q4 24 | $67.1M | $182.1M | ||
| Q3 24 | $38.6M | $184.8M | ||
| Q2 24 | $27.2M | $175.9M | ||
| Q1 24 | $12.1M | $174.5M |
净利润ERIIVECO
| Q4 25 | $26.9M | $1.1M | ||
| Q3 25 | $3.9M | $10.6M | ||
| Q2 25 | $2.1M | $11.7M | ||
| Q1 25 | $-9.9M | $11.9M | ||
| Q4 24 | $23.5M | $15.0M | ||
| Q3 24 | $8.5M | $22.0M | ||
| Q2 24 | $-642.0K | $14.9M | ||
| Q1 24 | $-8.3M | $21.9M |
毛利率ERIIVECO
| Q4 25 | 67.2% | 36.7% | ||
| Q3 25 | 64.2% | 40.8% | ||
| Q2 25 | 64.0% | 41.4% | ||
| Q1 25 | 55.3% | 40.9% | ||
| Q4 24 | 70.2% | 40.6% | ||
| Q3 24 | 65.1% | 42.9% | ||
| Q2 24 | 64.6% | 42.9% | ||
| Q1 24 | 59.0% | 43.2% |
营业利润率ERIIVECO
| Q4 25 | 46.8% | -0.8% | ||
| Q3 25 | 11.4% | 6.4% | ||
| Q2 25 | 5.3% | 7.4% | ||
| Q1 25 | -155.8% | 8.5% | ||
| Q4 24 | 38.2% | 2.1% | ||
| Q3 24 | 18.3% | 13.2% | ||
| Q2 24 | -7.4% | 9.5% | ||
| Q1 24 | -90.4% | 12.6% |
净利率ERIIVECO
| Q4 25 | 40.2% | 0.7% | ||
| Q3 25 | 12.1% | 6.4% | ||
| Q2 25 | 7.3% | 7.1% | ||
| Q1 25 | -122.5% | 7.1% | ||
| Q4 24 | 35.0% | 8.2% | ||
| Q3 24 | 22.0% | 11.9% | ||
| Q2 24 | -2.4% | 8.5% | ||
| Q1 24 | -68.3% | 12.5% |
每股收益（稀释后）ERIIVECO
| Q4 25 | $0.49 | $0.02 | ||
| Q3 25 | $0.07 | $0.17 | ||
| Q2 25 | $0.04 | $0.20 | ||
| Q1 25 | $-0.18 | $0.20 | ||
| Q4 24 | $0.40 | $0.25 | ||
| Q3 24 | $0.15 | $0.36 | ||
| Q2 24 | $-0.01 | $0.25 | ||
| Q1 24 | $-0.14 | $0.37 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $75.2M | $163.5M |
| 总债务越低越好 | — | $226.0M |
| 股东权益账面价值 | $206.2M | $885.5M |
| 总资产 | $231.5M | $1.3B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资ERIIVECO
| Q4 25 | $75.2M | $163.5M | ||
| Q3 25 | $70.4M | $193.2M | ||
| Q2 25 | $79.5M | $188.9M | ||
| Q1 25 | $83.5M | $174.9M | ||
| Q4 24 | $78.0M | $145.6M | ||
| Q3 24 | $118.6M | $163.2M | ||
| Q2 24 | $101.0M | $174.2M | ||
| Q1 24 | $117.4M | $174.0M |
总债务ERIIVECO
| Q4 25 | — | $226.0M | ||
| Q3 25 | — | $225.7M | ||
| Q2 25 | — | $225.4M | ||
| Q1 25 | — | $250.0M | ||
| Q4 24 | — | $276.2M | ||
| Q3 24 | — | $275.9M | ||
| Q2 24 | — | $275.6M | ||
| Q1 24 | — | $275.2M |
股东权益ERIIVECO
| Q4 25 | $206.2M | $885.5M | ||
| Q3 25 | $180.8M | $876.0M | ||
| Q2 25 | $185.2M | $856.2M | ||
| Q1 25 | $198.1M | $811.9M | ||
| Q4 24 | $210.0M | $770.8M | ||
| Q3 24 | $233.9M | $746.5M | ||
| Q2 24 | $218.5M | $715.0M | ||
| Q1 24 | $216.0M | $687.9M |
总资产ERIIVECO
| Q4 25 | $231.5M | $1.3B | ||
| Q3 25 | $209.6M | $1.3B | ||
| Q2 25 | $212.3M | $1.3B | ||
| Q1 25 | $225.4M | $1.3B | ||
| Q4 24 | $242.8M | $1.3B | ||
| Q3 24 | $262.7M | $1.3B | ||
| Q2 24 | $249.0M | $1.2B | ||
| Q1 24 | $244.3M | $1.2B |
负债/权益比ERIIVECO
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.39× | ||
| Q1 24 | — | 0.40× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $7.1M | $24.9M |
| 自由现金流经营现金流 - 资本支出 | $6.4M | $21.7M |
| 自由现金流率自由现金流/营收 | 9.6% | 13.1% |
| 资本支出强度资本支出/营收 | 1.0% | 2.0% |
| 现金转化率经营现金流/净利润 | 0.26× | 22.38× |
| 过去12个月自由现金流最近4个季度 | $17.4M | $53.3M |
8季度趋势，按日历期对齐
经营现金流ERIIVECO
| Q4 25 | $7.1M | $24.9M | ||
| Q3 25 | $-3.1M | $15.5M | ||
| Q2 25 | $4.1M | $9.0M | ||
| Q1 25 | $10.7M | $20.0M | ||
| Q4 24 | $9.0M | $28.4M | ||
| Q3 24 | $-3.0M | $17.6M | ||
| Q2 24 | $8.1M | $8.5M | ||
| Q1 24 | $6.5M | $9.4M |
自由现金流ERIIVECO
| Q4 25 | $6.4M | $21.7M | ||
| Q3 25 | $-3.5M | $13.0M | ||
| Q2 25 | $4.0M | $5.4M | ||
| Q1 25 | $10.5M | $13.2M | ||
| Q4 24 | $8.9M | $23.2M | ||
| Q3 24 | $-3.2M | $13.6M | ||
| Q2 24 | $7.9M | $5.5M | ||
| Q1 24 | $5.7M | $3.4M |
自由现金流率ERIIVECO
| Q4 25 | 9.6% | 13.1% | ||
| Q3 25 | -10.9% | 7.8% | ||
| Q2 25 | 14.3% | 3.3% | ||
| Q1 25 | 130.0% | 7.9% | ||
| Q4 24 | 13.2% | 12.7% | ||
| Q3 24 | -8.2% | 7.4% | ||
| Q2 24 | 28.9% | 3.1% | ||
| Q1 24 | 46.9% | 1.9% |
资本支出强度ERIIVECO
| Q4 25 | 1.0% | 2.0% | ||
| Q3 25 | 1.1% | 1.6% | ||
| Q2 25 | 0.5% | 2.2% | ||
| Q1 25 | 2.4% | 4.0% | ||
| Q4 24 | 0.2% | 2.8% | ||
| Q3 24 | 0.4% | 2.2% | ||
| Q2 24 | 0.7% | 1.7% | ||
| Q1 24 | 6.8% | 3.4% |
现金转化率ERIIVECO
| Q4 25 | 0.26× | 22.38× | ||
| Q3 25 | -0.81× | 1.47× | ||
| Q2 25 | 2.02× | 0.77× | ||
| Q1 25 | — | 1.67× | ||
| Q4 24 | 0.38× | 1.90× | ||
| Q3 24 | -0.35× | 0.80× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.43× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 10% |
VECO
| Asia Pacific Excluding China | $89.9M | 54% |
| Other | $44.8M | 27% |
| Compound Semiconductor | $20.1M | 12% |
| Data Storage | $10.2M | 6% |
