Symbols / ERII Stock $10.78 -2.80% Energy Recovery, Inc.

Industrials • Pollution & Treatment Controls • United States • NMS
ERII (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Industrials
Industry Pollution & Treatment Controls
CEO Mr. David W. Moon
Exch · Country NMS · United States
Market Cap 569.49M
Enterprise Value 520.05M
Income 22.96M
Sales 134.99M
FCF (ttm) 8.59M
Book/sh 3.90
Cash/sh 1.42
Employees 230
Insider 10d —
IPO Jul 02, 2008
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E 25.67
Forward P/E 11.63
PEG 3.33
P/S 4.22
P/B 2.76
P/C —
EV/EBITDA 18.37
EV/Sales 3.85
Quick Ratio 8.75
Current Ratio 10.44
Debt/Eq 4.57
LT Debt/Eq —
EPS (ttm) 0.42
EPS next Y 0.93
EPS Growth 20.10%
Revenue Growth -0.30%
EPS Gr Q/Q 14.70%
Rev Gr Q/Q —
Earnings (next) 2026-05-06
Earnings (prior) 2026-02-25
ROA 6.47%
ROE 11.03%
ROIC —
Gross Margin 65.14%
Oper. Margin 46.49%
Profit Margin 17.01%
Shs Outstand 52.83M
Shs Float 50.96M
Insider Own 1.74%
Instit Own 97.08%
Short Float 4.42%
Short Ratio 2.66
Short Interest 2.07M
52W High 18.32
vs 52W High -41.16%
52W Low 9.35
vs 52W Low 15.29%
Beta 1.08
Impl. Vol. 44.12%
Rel Volume 0.26
Avg Volume 800.05K
Volume 209.85K
Target (mean) $14.00
Tgt Median $14.00
Tgt Low $12.00
Tgt High $16.00
# Analysts 4
Recom Buy
Prev Close $11.09
Price $10.78
Change -2.80%
About

Energy Recovery, Inc., together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the United States, North, South and Latin America, the Middle East, Northern Africa, Asia, and Europe. It operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra high-pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation pumps for use in water treatment industries, including seawater and brackish desalination, and wastewater treatment. It also provides PX G1300, which reduces energy consumption and operating costs of carbon dioxide-based refrigeration systems; and spare parts, as well as repair, field, and commissioning services. The company sells its products under the ERI, PX, PX Pressure Exchanger, Pressure Exchanger, Ultra High-Pressure PX, PX G1300, PX PowerTrain, PX G, AT, and Aquabold brands to supermarket chains, cold storage facilities, refrigeration system installers or OEMs, and other industrial users; and aftermarket customers consisting of desalination plant owners and operators. Energy Recovery, Inc. was incorporated in 1992 and is headquartered in San Leandro, California.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$14.00
Mean price target
2. Current target
$10.78
Latest analyst target
3. DCF / Fair value
$2.93
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$10.78
Low
$12.00
High
$16.00
Mean
$14.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-11-10 main Freedom Broker Buy → Buy $18
2025-09-16 init CJS Securities — → Market Outperform $19
2025-08-07 main B. Riley Securities Neutral → Neutral $14
2025-05-08 down B. Riley Securities Buy → Neutral $13
2024-12-05 init Scotiabank — → Buy $22
2024-12-05 init Seaport Global — → Buy $22
2024-11-19 main B. Riley Securities Buy → Buy $20
2024-11-19 main Evercore ISI Group Outperform → Outperform $20
2024-07-09 up Raymond James Outperform → Strong Buy $21
2024-02-28 main Evercore ISI Group Outperform → Outperform $24
2023-11-02 main Raymond James Outperform → Outperform $20
2023-10-03 main Raymond James Outperform → Outperform $30
2023-08-03 main Raymond James Outperform → Outperform $32
2023-07-12 main Raymond James Outperform → Outperform $31
2023-05-09 up Fearnleys Hold → Buy $28
2023-04-05 main Raymond James — → Outperform $26
2022-11-17 init B. Riley Securities — → Buy $28
2022-11-08 up Raymond James Market Perform → Outperform $23
2021-07-07 down Raymond James Outperform → Market Perform —
2021-05-07 main Raymond James — → Outperform $23
News
RSS: Latest ERII news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-06 HANSTVEIT ARVE Director — 2,419 $10.29 $24,892
2026-04-02 HANSTVEIT ARVE Director — 165,292 $10.14 $1,676,061
2026-03-10 HANSTVEIT ARVE Director — 25,000 $10.96 $273,975
2026-03-06 HANSTVEIT ARVE Director — 50,000 $10.62 $534,400
2026-03-05 RAMANAN NATARAJAN Chief Technology Officer — 272 $10.57 $2,875
2026-03-04 CLEMENTE RODNEY Officer — 20,568 $10.61 $218,309
2026-02-17 CLEMENTE RODNEY Officer — 45,626 $0.00 $0
2026-02-17 YEUNG WILLIAM Officer — 25,959 $0.00 $0
2026-02-17 MANCINI MICHAEL S Chief Financial Officer — 45,626 $0.00 $0
2026-02-17 HOSTETLER MATTHEW Officer — 25,959 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
134.99
-6.87%
144.95
+12.93%
128.35
+2.20%
125.59
Operating Revenue
134.99
-6.87%
144.95
+12.93%
128.35
+2.20%
125.59
Cost Of Revenue
47.06
-2.00%
48.02
+16.34%
41.27
+7.94%
38.23
Reconciled Cost Of Revenue
47.06
-2.00%
48.02
+16.34%
41.27
+7.94%
38.23
Gross Profit
87.93
-9.29%
96.93
+11.32%
87.08
-0.32%
87.36
Operating Expense
63.73
-14.72%
74.73
+9.85%
68.03
+8.80%
62.53
Research And Development
13.03
-19.72%
16.24
-4.50%
17.00
-5.07%
17.91
Selling General And Administration
50.70
-13.34%
58.50
+14.64%
51.03
+14.37%
44.62
Selling And Marketing Expense
20.93
-17.69%
25.42
+14.70%
22.16
+36.17%
16.28
General And Administrative Expense
29.77
-9.99%
33.07
+14.59%
28.86
+1.85%
28.34
Other Gand A
29.77
-9.99%
33.07
+14.59%
28.86
+1.85%
28.34
Total Expenses
110.78
-9.75%
122.75
+12.30%
109.30
+8.47%
100.76
Operating Income
24.20
+9.02%
22.20
+16.54%
19.05
-23.28%
24.83
Total Operating Income As Reported
23.89
+21.12%
19.72
+3.54%
19.05
-23.28%
24.83
EBITDA
27.96
+6.54%
26.25
+13.36%
23.15
-25.63%
31.13
Normalized EBITDA
28.27
-1.56%
28.72
+24.06%
23.15
-25.63%
31.13
Reconciled Depreciation
3.76
-7.07%
4.05
-1.37%
4.10
-34.91%
6.30
EBIT
24.20
+9.02%
22.20
+16.54%
19.05
-23.28%
24.83
Total Unusual Items
-0.31
+87.36%
-2.48
0.00
0.00
Total Unusual Items Excluding Goodwill
-0.31
+87.36%
-2.48
0.00
0.00
Special Income Charges
-0.31
+87.36%
-2.48
0.00
0.00
Impairment Of Capital Assets
—
—
—
0.00
Restructuring And Mergern Acquisition
0.31
-87.36%
2.48
0.00
0.00
Net Income
22.96
-0.38%
23.05
+7.19%
21.50
-10.58%
24.05
Pretax Income
27.59
+7.23%
25.73
+13.35%
22.70
-12.91%
26.07
Net Non Operating Interest Income Expense
3.61
-41.88%
6.22
+65.55%
3.76
+313.66%
0.91
Net Interest Income
3.61
-41.88%
6.22
+65.55%
3.76
+313.66%
0.91
Interest Income Non Operating
3.61
-41.88%
6.22
+65.55%
3.76
+313.66%
0.91
Interest Income
3.61
-41.88%
6.22
+65.55%
3.76
+313.66%
0.91
Other Income Expense
-0.22
+91.76%
-2.68
-2556.44%
-0.10
-130.24%
0.33
Other Non Operating Income Expenses
0.09
+144.44%
-0.21
-104.95%
-0.10
-130.24%
0.33
Tax Provision
4.63
+72.55%
2.69
+123.56%
1.20
-40.60%
2.02
Tax Rate For Calcs
0.00
+60.92%
0.00
+108.67%
0.00
-37.50%
0.00
Tax Effect Of Unusual Items
-0.05
+79.66%
-0.26
0.00
0.00
Net Income Including Noncontrolling Interests
22.96
-0.38%
23.05
+7.19%
21.50
-10.58%
24.05
Net Income From Continuing Operation Net Minority Interest
22.96
-0.38%
23.05
+7.19%
21.50
-10.58%
24.05
Net Income From Continuing And Discontinued Operation
22.96
-0.38%
23.05
+7.19%
21.50
-10.58%
24.05
Net Income Continuous Operations
22.96
-0.38%
23.05
+7.19%
21.50
-10.58%
24.05
Normalized Income
23.22
-8.09%
25.27
+17.50%
21.50
-10.58%
24.05
Net Income Common Stockholders
22.96
-0.38%
23.05
+7.19%
21.50
-10.58%
24.05
Diluted EPS
0.42
+5.00%
0.40
+8.11%
0.37
-11.90%
0.42
Basic EPS
0.43
+7.50%
0.40
+5.26%
0.38
-11.63%
0.43
Basic Average Shares
53.80
-5.96%
57.21
+1.36%
56.44
+0.40%
56.22
Diluted Average Shares
54.16
-6.34%
57.82
+0.14%
57.74
+0.17%
57.64
Diluted NI Availto Com Stockholders
22.96
-0.38%
23.05
+7.19%
21.50
-10.58%
24.05
Amortization
—
—
—
—
Amortization Of Intangibles Income Statement
—
—
—
—
Depreciation Amortization Depletion Income Statement
—
—
—
—
Depreciation And Amortization In Income Statement
—
—
—
—
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
231.51
-4.65%
242.79
-4.02%
252.97
+16.56%
217.04
Current Assets
181.21
+4.35%
173.66
-6.37%
185.47
+17.49%
157.87
Cash Cash Equivalents And Short Term Investments
75.25
-3.55%
78.02
-28.12%
108.54
+20.83%
89.83
Cash And Cash Equivalents
48.08
+62.27%
29.63
-56.49%
68.10
+20.84%
56.35
Other Short Term Investments
27.17
-43.85%
48.39
+19.65%
40.45
+20.81%
33.48
Receivables
76.64
+19.63%
64.07
+33.17%
48.11
+33.27%
36.10
Accounts Receivable
76.64
+19.63%
64.07
+36.49%
46.94
+37.80%
34.06
Gross Accounts Receivable
76.97
+19.73%
64.29
+36.56%
47.08
+37.61%
34.21
Allowance For Doubtful Accounts Receivable
-0.34
-51.58%
-0.22
-60.14%
-0.14
+6.76%
-0.15
Other Receivables
—
2.78
+368.92%
0.59
-65.58%
1.72
Accrued Interest Receivable
—
0.64
+9.64%
0.58
+82.13%
0.32
Inventory
24.26
-2.59%
24.91
-4.75%
26.15
-7.82%
28.37
Raw Materials
8.29
-6.12%
8.83
+0.88%
8.75
-21.70%
11.18
Work In Process
6.27
-2.29%
6.42
+22.60%
5.23
+99.16%
2.63
Finished Goods
10.77
+2.92%
10.46
-21.44%
13.32
-11.57%
15.06
Prepaid Assets
—
1.49
+206.16%
0.49
-62.77%
1.31
Current Deferred Assets
—
—
—
0.78
Other Current Assets
5.06
-24.04%
6.67
+205.31%
2.18
-3.36%
2.26
Total Non Current Assets
50.30
-27.24%
69.14
+2.42%
67.50
+14.08%
59.17
Net PPE
20.64
-17.85%
25.12
-16.74%
30.17
-7.73%
32.70
Gross PPE
62.72
-2.32%
64.21
-5.04%
67.62
+1.47%
66.64
Accumulated Depreciation
-42.09
-7.65%
-39.09
-4.39%
-37.45
-10.33%
-33.94
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
35.01
+0.14%
34.96
-3.02%
36.05
+7.48%
33.54
Construction In Progress
0.21
+54.68%
0.14
-88.48%
1.21
-49.85%
2.41
Other Properties
7.70
-20.57%
9.70
-15.47%
11.47
-12.55%
13.12
Leases
19.80
+1.95%
19.42
+2.77%
18.89
+7.50%
17.58
Goodwill And Other Intangible Assets
12.79
+0.00%
12.79
+0.00%
12.79
+0.00%
12.79
Goodwill
12.79
+0.00%
12.79
+0.00%
12.79
+0.00%
12.79
Other Intangible Assets
—
—
—
—
Investments And Advances
8.03
-63.20%
21.83
+57.84%
13.83
+352.32%
3.06
Non Current Deferred Assets
8.27
-8.19%
9.00
-12.79%
10.32
+0.59%
10.26
Non Current Deferred Taxes Assets
8.27
-8.19%
9.00
-12.79%
10.32
+0.59%
10.26
Other Non Current Assets
0.58
+47.57%
0.39
+0.77%
0.39
+6.01%
0.37
Total Liabilities Net Minority Interest
25.32
-22.76%
32.78
-1.16%
33.17
+4.62%
31.70
Current Liabilities
17.35
-25.93%
23.43
+9.11%
21.47
+17.32%
18.30
Payables And Accrued Expenses
13.58
-31.24%
19.75
+12.67%
17.53
+20.54%
14.54
Payables
4.51
+11.32%
4.06
-0.52%
4.08
+276.80%
1.08
Accounts Payable
2.11
-32.00%
3.11
+3.63%
3.00
+268.55%
0.81
Other Payable
—
—
—
10.48
Current Accrued Expenses
9.06
-42.23%
15.69
+16.67%
13.45
-0.06%
13.46
Total Tax Payable
2.40
+153.54%
0.95
-12.07%
1.08
+301.87%
0.27
Income Tax Payable
2.40
+153.54%
0.95
-12.07%
1.08
+301.87%
0.27
Current Debt And Capital Lease Obligation
2.53
+25.30%
2.02
+12.79%
1.79
+11.94%
1.60
Current Capital Lease Obligation
2.53
+25.30%
2.02
+12.79%
1.79
+11.94%
1.60
Current Deferred Liabilities
1.04
+81.96%
0.57
-47.95%
1.10
-8.20%
1.20
Current Deferred Revenue
1.04
+81.96%
0.57
-47.95%
1.10
-8.20%
1.20
Total Non Current Liabilities Net Minority Interest
7.97
-14.82%
9.35
-20.02%
11.70
-12.72%
13.40
Long Term Debt And Capital Lease Obligation
6.90
-25.80%
9.30
-19.07%
11.49
-13.48%
13.28
Long Term Capital Lease Obligation
6.90
-25.80%
9.30
-19.07%
11.49
-13.48%
13.28
Other Non Current Liabilities
1.07
+1777.19%
0.06
-72.46%
0.21
+71.07%
0.12
Stockholders Equity
206.19
-1.82%
210.01
-4.46%
219.81
+18.60%
185.34
Common Stock Equity
206.19
-1.82%
210.01
-4.46%
219.81
+18.60%
185.34
Capital Stock
0.07
+1.52%
0.07
+1.54%
0.07
+1.56%
0.06
Common Stock
0.07
+1.52%
0.07
+1.54%
0.07
+1.56%
0.06
Preferred Stock
—
0.00
0.00
0.00
Share Issued
66.77
+0.89%
66.18
+1.77%
65.03
+1.25%
64.23
Ordinary Shares Number
52.81
-3.61%
54.79
-3.68%
56.88
+1.43%
56.08
Treasury Shares Number
13.97
+22.55%
11.40
+39.87%
8.15
+0.00%
8.15
Additional Paid In Capital
244.40
+3.99%
235.01
+7.99%
217.62
+6.18%
204.96
Retained Earnings
128.67
+21.72%
105.71
+27.89%
82.66
+35.16%
61.15
Gains Losses Not Affecting Retained Earnings
-0.09
-195.92%
0.10
+322.73%
-0.04
+87.39%
-0.35
Treasury Stock
166.85
+27.49%
130.87
+62.60%
80.49
+0.00%
80.49
Other Equity Adjustments
-0.09
-195.92%
0.10
+322.73%
-0.04
+87.39%
-0.35
Total Equity Gross Minority Interest
206.19
-1.82%
210.01
-4.46%
219.81
+18.60%
185.34
Total Capitalization
206.19
-1.82%
210.01
-4.46%
219.81
+18.60%
185.34
Working Capital
163.86
+9.07%
150.23
-8.40%
164.00
+17.51%
139.56
Invested Capital
206.19
-1.82%
210.01
-4.46%
219.81
+18.60%
185.34
Total Debt
9.43
-16.68%
11.32
-14.78%
13.28
-10.75%
14.88
Capital Lease Obligations
9.43
-16.68%
11.32
-14.78%
13.28
-10.75%
14.88
Net Tangible Assets
193.40
-1.94%
197.22
-4.73%
207.02
+19.98%
172.55
Tangible Book Value
193.40
-1.94%
197.22
-4.73%
207.02
+19.98%
172.55
Available For Sale Securities
1.97
+97.10%
1.00
—
—
Current Provisions
0.20
-81.19%
1.09
+3.12%
1.06
+9.19%
0.97
Held To Maturity Securities
6.06
-70.90%
20.83
+50.61%
13.83
—
Inventories Adjustments Allowances
-1.07
-32.88%
-0.80
+30.54%
-1.16
-130.28%
-0.50
Investmentin Financial Assets
8.03
-63.20%
21.83
+57.84%
13.83
—
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
18.77
-8.54%
20.52
-21.23%
26.05
+106.27%
12.63
Cash Flow From Continuing Operating Activities
18.77
-8.54%
20.52
-21.23%
26.05
+106.27%
12.63
Net Income From Continuing Operations
22.96
-0.38%
23.05
+7.19%
21.50
-10.58%
24.05
Depreciation Amortization Depletion
3.76
-7.07%
4.05
-1.37%
4.10
-34.91%
6.30
Depreciation
3.76
-7.07%
4.05
-1.37%
4.10
-34.91%
6.30
Depreciation And Amortization
3.76
-7.07%
4.05
-1.37%
4.10
-34.91%
6.30
Other Non Cash Items
-0.78
-365.19%
0.29
+14.90%
0.26
+226.87%
-0.20
Stock Based Compensation
7.72
-25.22%
10.32
+28.42%
8.04
+23.51%
6.51
Provisionand Write Offof Assets
0.48
+328.10%
-0.21
-127.24%
0.77
—
Asset Impairment Charge
0.35
0.00
0.00
0.00
Deferred Tax
0.74
-44.17%
1.32
+2263.93%
-0.06
-105.27%
1.16
Deferred Income Tax
0.74
-44.17%
1.32
+2263.93%
-0.06
-105.27%
1.16
Change In Working Capital
-16.14
+4.90%
-16.97
-120.56%
-7.69
+70.26%
-25.86
Change In Receivables
-11.56
+40.41%
-19.40
-65.14%
-11.74
+20.14%
-14.71
Changes In Account Receivables
-12.69
+26.29%
-17.21
-33.71%
-12.87
+4.50%
-13.48
Change In Inventory
0.01
-99.42%
1.20
-11.23%
1.35
+116.35%
-8.28
Change In Prepaid Assets
0.24
+131.22%
-0.76
-687.50%
-0.10
-169.57%
0.14
Change In Payables And Accrued Expense
-5.29
-303.62%
2.60
-11.12%
2.92
+416.34%
-0.92
Change In Accrued Expense
-3.83
-311.37%
1.81
+515.99%
0.29
+127.68%
-1.06
Change In Payable
-1.46
-285.77%
0.79
-70.06%
2.63
+1805.07%
0.14
Change In Account Payable
-1.46
-285.77%
0.79
-70.06%
2.63
+1805.07%
0.14
Change In Other Working Capital
0.47
+175.97%
-0.62
-377.52%
-0.13
+93.83%
-2.09
Investing Cash Flow
33.98
+317.10%
-15.65
+18.10%
-19.11
-175.18%
-6.95
Cash Flow From Continuing Investing Activities
33.98
+317.10%
-15.65
+18.10%
-19.11
-175.18%
-6.95
Net PPE Purchase And Sale
0.01
-92.48%
0.13
+52.87%
0.09
-92.11%
1.10
Sale Of PPE
0.01
-92.48%
0.13
+52.87%
0.09
-92.11%
1.10
Capital Expenditure
-1.33
-2.47%
-1.30
+49.44%
-2.57
+39.34%
-4.23
Capital Expenditure Reported
-1.33
-2.47%
-1.30
+49.44%
-2.57
+39.34%
-4.23
Net Investment Purchase And Sale
35.30
+343.67%
-14.49
+12.90%
-16.63
-335.90%
-3.82
Purchase Of Investment
-31.37
+65.53%
-91.00
-7.62%
-84.56
-94.06%
-43.57
Sale Of Investment
66.67
-12.85%
76.51
+12.64%
67.92
+70.84%
39.76
Financing Cash Flow
-34.53
+20.22%
-43.28
-1002.88%
4.79
+120.26%
-23.67
Cash Flow From Continuing Financing Activities
-34.53
+20.22%
-43.28
-1002.88%
4.79
+120.26%
-23.67
Net Common Stock Issuance
-33.83
+21.85%
-43.28
-1002.88%
4.79
+120.26%
-23.67
Common Stock Payments
-35.62
+29.30%
-50.38
0.00
+100.00%
-26.65
Repurchase Of Capital Stock
-35.62
+29.30%
-50.38
0.00
+100.00%
-26.65
Net Other Financing Charges
-0.71
—
—
—
Changes In Cash
18.22
+147.43%
-38.42
-427.39%
11.73
+165.25%
-17.98
Effect Of Exchange Rate Changes
0.10
+288.46%
-0.05
-257.58%
0.03
+265.00%
-0.02
Beginning Cash Position
29.76
-56.38%
68.22
+20.84%
56.46
-24.18%
74.46
End Cash Position
48.08
+61.56%
29.76
-56.38%
68.22
+20.84%
56.46
Free Cash Flow
17.44
-9.28%
19.22
-18.15%
23.49
+179.64%
8.40
Income Tax Paid Supplemental Data
1.40
-9.98%
1.55
+207.52%
0.51
-8.01%
0.55
Amortization Of Securities
-0.33
+75.51%
-1.33
-54.41%
-0.86
-226.76%
0.68
Common Stock Issuance
1.80
-74.70%
7.10
+48.10%
4.79
+60.55%
2.99
Issuance Of Capital Stock
1.80
-74.70%
7.10
+48.10%
4.79
+60.55%
2.99
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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