# Energy Recovery, Inc. (ERII) · Edgar & Edgarette company card

> Energy Recovery (ERII) saw revenue fall 6.9% in FY2025 to $135 million, operating margin 17.7% against a 14.2% median for special industry machinery, equity 89.1% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1421517 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/ERII) · [JSON](https://www.pops4.com/boards/company/ERII.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $135M |
| Revenue growth, 1 year | -6.9% |
| Revenue growth per year | 6.8% |
| Operating margin | 17.7% (prior year 13.6%) |
| Net margin | 17.0% |
| Operating cash flow | $19M |
| Capital spending | $1M |
| Free cash flow | $17M |
| Cash | $48M |
| Long-term debt | — |
| Total assets | $232M |
| Total equity | $206M |
| Equity ÷ assets | 89.1% |
| Return on equity | 11.1% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 15.7 (safe zone)
- Piotroski F: 6 of 9 (solid)
- Beneish M: -2.21 (below the −1.78 line)
- Health Harbor boat: Sound ship · one warning sign · filed restructuring or exit costs, material impairment in the last 12 months
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $135.0M (FY2025). Experience: revenue down 6.9% on the year, up 6.8% a year over 4 years; operating margin 17.7%, up from 13.6%. Soundness: equity 89.1% of assets, return on equity 11.1%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $108.4M and $154.6M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $99.1M to $169.8M. A statistical range, not company guidance. Against peers (11 filers, $50M+ revenue, its industry group): operating margin 17.7% against a 14.2% median; growth -6.9% against 2.3%.

Range logged 2026-10-30, receipt f1d776d4ead319bc, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 2.05 Restructuring or exit costs: 1, latest 2026-02-25 ([filing](https://www.sec.gov/Archives/edgar/data/1421517/000142151726000021/0001421517-26-000021-index.htm))
- Item 2.06 Material impairment: 1, latest 2026-02-25 ([filing](https://www.sec.gov/Archives/edgar/data/1421517/000142151726000021/0001421517-26-000021-index.htm))
- Item 5.02 Director or officer change: 3, latest 2026-07-13 ([filing](https://www.sec.gov/Archives/edgar/data/1421517/000142151726000069/0001421517-26-000069-index.htm))

## Recent filings

- 10-Q · filed 2026-08-05 · [filing](https://www.sec.gov/Archives/edgar/data/1421517/000142151726000083/0001421517-26-000083-index.htm)
- 8-K · filed 2026-08-05 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1421517/000142151726000082/0001421517-26-000082-index.htm)
- 8-K · filed 2026-07-13 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1421517/000142151726000069/0001421517-26-000069-index.htm)
- 8-K · filed 2026-06-08 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1421517/000142151726000058/0001421517-26-000058-index.htm)
- 8-K · filed 2026-05-28 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1421517/000142151726000050/0001421517-26-000050-index.htm)
- 10-Q · filed 2026-05-06 · [filing](https://www.sec.gov/Archives/edgar/data/1421517/000142151726000041/0001421517-26-000041-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001421517.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1421517

## Cite

POPS4, Edgar & Edgarette: Energy Recovery, Inc. (ERII) company card, from the company's own SEC filings, accessed 2026-11-03, https://www.pops4.com/boards/company/ERII. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.