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Energy Recovery Balance Sheet 2025-2008 | ERII
Brief overview of Energy Recovery's financial position
The comparison uses five available annual reports from the 2021–2025 interval.
Across five periods, assets reached $231.5 million versus $213.7 million initially. Growth of +8.3% reflects gradual development.
Liabilities increased less than assets, posting -27.5% versus +8.3%. That relationship usually strengthens the balance sheet.
Equity funds 89.1% of assets versus 83.7% initially. This creates a conservative balance sheet structure.
Negative net debt of -$38.6 million means cash holdings are larger than debt obligations.
The cash share moved from 34.8% to 20.8%. A higher figure generally provides more room in an adverse scenario.
Accumulated earnings ended at $128.7 million, a change of +246.8%. They remain an important part of the capital base.
Overall picture
Energy Recovery's financial position is positive on balance sheet evidence. Growth in resources has not undermined capital strength.
Annual Balance Sheet Energy Recovery
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-38.6 M | -18.3 M | -54.8 M | -41.5 M | -57.9 M | -76.6 M | -13.8 M | -8.47 M | -27.8 M | -61.3 M | -99.9 M | -15.5 M | -14.4 M | -16.6 M | -18.3 M | -55.1 M | - | - |
Long Term Debt |
6.9 M | 9.3 M | 11.5 M | 13.3 M | 14.9 M | 16.4 M | - | - | 16 K | 27 K | 38 K | - | - | - | - | 85 K | - | - |
Long Term Debt Current |
2.53 M | 2.02 M | 1.79 M | 1.6 M | 1.56 M | 1.24 M | 1.02 M | 926 K | 1.6 M | 11 K | 10 K | - | - | - | 85 K | 128 K | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 24.9 M | 39.3 M | 59.4 M | 66.8 M | 72.1 M | 4.5 M | 4.34 M | 4.32 M | 3.88 M | - | - | - |
Total Current Liabilities |
17.4 M | 23.4 M | 21.5 M | 18.3 M | 19.8 M | 15.7 M | 27.8 M | 27.1 M | 30.4 M | 17.2 M | 16 M | 11.5 M | 10.7 M | 12.9 M | 9.88 M | 10.3 M | - | - |
Total Liabilities |
25.3 M | 32.8 M | 33.2 M | 31.7 M | 34.9 M | 32.7 M | 52.8 M | 66.5 M | 79.2 M | 83.9 M | 88.1 M | 16 M | 15 M | 17.2 M | 13.8 M | 13.1 M | - | - |
Deferred Revenue |
1.04 M | 571 K | 1.1 M | 1.2 M | 3.32 M | 1.55 M | 15.7 M | 16.3 M | 6.42 M | 7.27 M | 5.88 M | 519 K | 779 K | 918 K | 859 K | 2.34 M | - | - |
Retained Earnings |
129 M | 106 M | 82.7 M | 61.2 M | 37.1 M | 22.8 M | -3.55 M | -14.5 M | -45.9 M | -58.3 M | -59.3 M | -47.7 M | -29 M | -25.9 M | -17.6 M | 8.84 M | - | - |
Total Assets |
232 M | 243 M | 253 M | 217 M | 214 M | 204 M | 189 M | 180 M | 162 M | 149 M | 152 M | 85.9 M | 102 M | 105 M | 111 M | 134 M | - | - |
Cash and Cash Equivalents |
48.1 M | 29.6 M | 68.1 M | 56.4 M | 74.4 M | 94.3 M | 26.4 M | 22 M | 27.8 M | 61.4 M | 99.9 M | 15.5 M | 14.4 M | 16.6 M | 18.5 M | 55.3 M | 59.1 M | 79.3 M |
Book Value |
206 M | 210 M | 220 M | 185 M | 179 M | 172 M | 136 M | 113 M | 82.5 M | 65.1 M | 63.7 M | 69.9 M | 86.9 M | 87.4 M | 97 M | 121 M | - | - |
Total Shareholders Equity |
206 M | 210 M | 220 M | 185 M | 179 M | 172 M | 136 M | 113 M | 91.9 M | 68.5 M | 64.3 M | 69.9 M | 86.9 M | 87.4 M | 97 M | 121 M | 121 M | 107 M |
All numbers in USD currency
Quarterly Balance Sheet Energy Recovery
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
5.58 M | 6.25 M | 7.53 M | 8.14 M | 8.75 M | 9.86 M | 10.4 M | 11 M | 12 M | 12.5 M | 13 M | 13.3 M | 13.7 M | - | 14.6 M | 14.9 M | 15.3 M | 15.7 M | 16.1 M | 16.4 M | 16.4 M | 16.4 M | 16.4 M | 11.5 M | 11.5 M | 11.5 M | 11.5 M | - | 7 K | 10 K | 13 K | 16 K | 16 K | 16 K | 16 K | 27 K | 27 K | 27 K | 27 K | 38 K | 38 K | 38 K | 38 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 21 K | - |
Total Liabilities |
25.3 M | 24.7 M | 28.8 M | 27.1 M | 27.3 M | 28.8 M | 30.5 M | 28.2 M | 28.6 M | 27.9 M | 26.5 M | 31.7 M | 30.8 M | - | 30.8 M | 34.9 M | 32 M | 29.5 M | 28.9 M | 32.7 M | 32.7 M | 32.7 M | 32.7 M | 52.8 M | 52.8 M | 52.8 M | 52.8 M | 66.5 M | 66.5 M | 66.5 M | 64.4 M | 72.6 M | 72.6 M | 72.6 M | 72.6 M | 83.9 M | 83.9 M | 83.9 M | 83.9 M | 88.1 M | 88.1 M | 88.1 M | 88.1 M | 16 M | 16 M | 16 M | 16 M | 15 M | 15 M | 15 M | 15 M | 17.2 M | 17.2 M | 17.2 M | 17.2 M | 13.8 M | 13.8 M | 13.8 M | 13.8 M |
Deferred Revenue |
1.11 M | 1.08 M | 1.93 M | 1.73 M | 1.4 M | 2.97 M | 3.21 M | 3.45 M | 1.47 M | 1.27 M | 1.45 M | 1.2 M | 2.16 M | - | 2.06 M | 3.32 M | 1.45 M | 1.12 M | 1.14 M | 1.55 M | 1.55 M | 1.55 M | 1.55 M | 15.7 M | 15.7 M | 15.7 M | 15.7 M | 16.3 M | 16.3 M | 16.3 M | 16.8 M | 15.9 M | 6.23 M | 5.86 M | 5.9 M | 6.2 M | 6.2 M | 6.2 M | 6.2 M | 5.88 M | 5.88 M | 5.88 M | 5.88 M | 519 K | 519 K | 519 K | 519 K | 779 K | 779 K | 779 K | 779 K | 918 K | 918 K | 918 K | 918 K | 859 K | 859 K | 859 K | 859 K |
Retained Earnings |
113 M | 116 M | 102 M | 97.9 M | 95.8 M | 82.2 M | 73.8 M | 74.4 M | 62.9 M | 53.2 M | 54.9 M | 61.2 M | 47.4 M | - | 45 M | 37.1 M | 31.8 M | 30.8 M | 29.7 M | 22.8 M | 22.8 M | 22.8 M | 22.8 M | -3.55 M | -3.55 M | -3.55 M | -3.55 M | -14.5 M | -14.5 M | -14.5 M | -37.3 M | -36.6 M | -36.6 M | -36.6 M | -36.6 M | -58.3 M | -58.3 M | -58.3 M | -58.3 M | -59.3 M | -59.3 M | -59.3 M | -59.3 M | -47.7 M | -47.7 M | -47.7 M | -47.7 M | -29 M | -29 M | -29 M | -29 M | -25.9 M | -25.9 M | -25.9 M | -25.9 M | -17.6 M | -17.6 M | -17.6 M | -17.6 M |
Total Assets |
198 M | 209 M | 210 M | 212 M | 225 M | 263 M | 249 M | 244 M | 223 M | 210 M | 208 M | 217 M | 200 M | - | 212 M | 214 M | 209 M | 209 M | 215 M | 204 M | 204 M | 204 M | 204 M | 189 M | 189 M | 189 M | 189 M | 180 M | 180 M | 180 M | 156 M | 164 M | 164 M | 164 M | 164 M | 149 M | 149 M | 149 M | 149 M | 152 M | 152 M | 152 M | 152 M | 85.9 M | 85.9 M | 85.9 M | 85.9 M | 102 M | 102 M | 102 M | 102 M | 105 M | 105 M | 105 M | 105 M | 111 M | 111 M | 111 M | 111 M |
Cash and Cash Equivalents |
61.4 M | 50.1 M | 47.1 M | 57 M | 49.1 M | 63.3 M | 40.3 M | 70.9 M | 51.4 M | 44.2 M | 66.3 M | 56.4 M | 52.1 M | 43.2 M | 44.5 M | 74.4 M | 65.7 M | 103 M | 105 M | 94.3 M | 94.3 M | 94.3 M | 94.3 M | 26.4 M | 26.4 M | 26.4 M | 26.4 M | 22 M | 22 M | 22 M | 22 M | 27.8 M | 27.8 M | 27.8 M | 27.8 M | 61.4 M | 61.4 M | 61.4 M | 61.4 M | 99.9 M | 99.9 M | 99.9 M | 99.9 M | 15.5 M | 15.5 M | 15.5 M | 15.5 M | 14.4 M | 14.4 M | 14.4 M | 14.4 M | 16.6 M | 16.6 M | 16.6 M | 16.6 M | 18.5 M | 18.5 M | 18.5 M | 18.5 M |
Book Value |
172 M | 184 M | 181 M | 185 M | 198 M | 234 M | 219 M | 216 M | 194 M | 182 M | 182 M | 185 M | 169 M | - | 181 M | 179 M | 177 M | 180 M | 186 M | 172 M | 172 M | 172 M | 172 M | 136 M | 136 M | 136 M | 136 M | 113 M | 113 M | 113 M | 91.5 M | 91.9 M | 91.9 M | 91.9 M | 91.9 M | 65.1 M | 65.1 M | 65.1 M | 65.1 M | 63.7 M | 63.7 M | 63.7 M | 63.7 M | 69.9 M | 69.9 M | 69.9 M | 69.9 M | 86.9 M | 86.9 M | 86.9 M | 86.9 M | 87.4 M | 87.4 M | 87.4 M | 87.4 M | 97 M | 97 M | 97 M | 97 M |
Total Shareholders Equity |
172 M | 184 M | 181 M | 185 M | 198 M | 234 M | 219 M | 216 M | 194 M | 182 M | 182 M | 185 M | 169 M | 162 M | 181 M | 179 M | 177 M | 180 M | 186 M | 172 M | 172 M | 172 M | 172 M | 136 M | 136 M | 136 M | 136 M | 113 M | 113 M | 113 M | 113 M | 91.9 M | 91.9 M | 91.9 M | 91.9 M | 68.5 M | 65.1 M | 65.1 M | 65.1 M | 64.3 M | 63.7 M | 63.7 M | 63.7 M | 69.9 M | 69.9 M | 69.9 M | 69.9 M | 86.9 M | 86.9 M | 86.9 M | 86.9 M | 87.4 M | 87.4 M | 87.4 M | 87.4 M | 97 M | 97 M | 97 M | 97 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Energy Recovery, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Pollution treatment
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
 |
TOMI Environmental Solutions
TOMZ
|
$ 1.66 | 3.01 % | $ 33.3 M |  USA |
 |
Unifi
UFI
|
$ 6.79 | 1.28 % | $ 126 M | USA |
 |
Federal Signal Corporation
FSS
|
$ 118.25 | 0.61 % | $ 7.19 B | USA |
 |
BioHiTech Global, Inc.
BHTG
|
- | -3.67 % | $ 23.9 M | USA |
 |
ClearSign Technologies Corporation
CLIR
|
$ 4.31 | 8.3 % | $ 23.9 M | USA |
 |
Fuel Tech
FTEK
|
$ 1.65 | 6.45 % | $ 51 M | USA |
 |
LiqTech International
LIQT
|
$ 0.66 | 16.95 % | $ 6.35 M |  Danmark |
 |
Advanced Emissions Solutions
ADES
|
- | 5.1 % | $ 63.3 M | USA |
 |
CECO Environmental Corp.
CECE
|
- | 2.19 % | $ 402 M | USA |
 |
Calyxt
CLXT
|
- | 5.53 % | $ 31.3 M | USA |