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Companies / Industrials / Energy Recovery, Inc.
ERII

Energy Recovery, Inc.

IndustrialsIndustrial Machinery
Ticker ERIISAN LEANDRO, CAFiscal year ends DecemberBook value per share $3.19Diluted shares 51.7M

Energy Recovery, Inc. (Nasdaq: ERII) designs and manufactures pressure-exchanger technology and related equipment that recovers energy in pressurized fluid systems. Its core products serve seawater and brackish-water reverse osmosis desalination, wastewater treatment and water reuse, helping plant operators reduce… From the company’s description.

Over the twelve months to Sep 30, 2026, Energy Recovery, Inc. reported revenue of $99.77M, down 26.2% from a year earlier, and net income of $5.13M. Its operating margin was 0.8%, and operations generated $35.17M in cash. In fiscal 2025, it reported revenue of $134.99M, down 6.9% from fiscal 2024, and net income of $22.96M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$134.99MFY2025
−6.9% year over year
Last 12 mo $99.77M
17.70%FY2025
+4.1 percentage points
Last 12 mo 0.78%
$22.96MFY2025
−0.4% year over year
Last 12 mo $5.13M
11.26%FY2025
−0.8 percentage points
Last 12 mo 6.23%
Cash & financing
$18.77MFY2025
−8.5% year over year
Last 12 mo $35.17M
$17.44MFY2025
−9.3% year over year
Last 12 mo $32.36M
—
54.2MFY2025
−6.3% year over year
Last 12 mo 51.7M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Energy Recovery, Inc. does

In the company’s own words

Energy Recovery, Inc. (Nasdaq: ERII) designs and manufactures pressure-exchanger technology and related equipment that recovers energy in pressurized fluid systems. Its core products serve seawater and brackish-water reverse osmosis desalination, wastewater treatment and water reuse, helping plant operators reduce energy use; offerings include PX pressure exchangers, hydraulic turbochargers, high-pressure pumps and circulation pumps. Customers include large desalination project developers and engineering, procurement and construction firms, equipment manufacturers serving smaller plants, and plant owners and operators buying aftermarket parts and services. The company reports Water and Emerging Technologies segments: Water serves desalination and wastewater markets, while Emerging Technologies applies pressure-exchanger technology to new uses, including CO2 refrigeration through the PX G1300. In February 2026, it decided to wind down its CO2 retail grocery business. Its PX devices are used in desalination plants producing more than 43 million cubic meters of water per day. The company manufactures products in California and serves customers globally. Its website is www.energyrecovery.com.

Company details
Sector
Industrials
Industry (SIC)
Industrial Machinery
Headquarters
SAN LEANDRO, CA
Fiscal year end
December
CIK
1421517
SIC
3559

Financial performance, year by year

Fiscal 2011–2025 · USD
$-43.58M$7.84M$59.25M$110.67M$162.09M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Energy Recovery, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

178
funds hold it
0 of 35
superinvestors hold it
$129.93M
held by funds, at market
27.2%
of shares held by funds

Largest fund holders · Energy Recovery, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.01%of fund net assets
Meridian Contrarian Fund
MVALX · Meridian Fund Inc
1.12%of fund net assets
Fidelity Small Cap Index Fund
FSSNX · Fidelity Salem Street Trust
—of fund net assets
Calvert Global Water Fund
CFWAX · Calvert Impact Fund, Inc.
1.00%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Energy Recovery, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Energy Recovery, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Energy Recovery, Inc.'s last four quarterly filings that the numbers alone won't show?”
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