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Axcelis Technologies vs Energy Recovery: revenue, profit, margins and growth compared

Axcelis Technologies brought in $839M of revenue in fiscal 2025, Energy Recovery $135M in fiscal 2025. Revenue changed by -17.6% at Axcelis Technologies and -6.9% at Energy Recovery on the year before, so Energy Recovery grew faster. Axcelis Technologies kept 14.3% of its revenue as net profit, Energy Recovery 17.0%. Free cash flow was $107M at Axcelis Technologies and $17.4M at Energy Recovery.

Side by side, latest fiscal year

ACLSERII
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$839M$135M
Revenue growth-17.6%-6.9%
Net income$120.2M$23M
Net margin14.3%17.0%
Free cash flow$107M$17.4M
Free cash flow margin12.8%12.9%
Earnings per share (diluted)$3.80$0.42
Cash$145.5M$48.1M
Debtn/an/a
Price to earnings32.416.2
Market value$3.8B$347.6M
Dividend yieldn/an/a
Rank by revenue in sector#242 of 530 · Technology#405 of 530 · Technology

Over the years

Revenue
ACLS FY2018: $442.6MACLS FY2019: $343MACLS FY2020: $474.6MACLS FY2021: $662.4MACLS FY2022: $920MACLS FY2023: $1.1BACLS FY2024: $1BACLS FY2025: $839MERII FY2018: $74.5MERII FY2019: $86.9MERII FY2020: $119MERII FY2021: $103.9MERII FY2022: $125.6MERII FY2023: $128.3MERII FY2024: $144.9MERII FY2025: $135MFY18FY19FY20FY21FY22FY23FY24FY25
ACLS $839MERII $135M
Net income
ACLS FY2018: $45.9MACLS FY2019: $17MACLS FY2020: $50MACLS FY2021: $98.7MACLS FY2022: $183.1MACLS FY2023: $246.3MACLS FY2024: $201MACLS FY2025: $120.2MERII FY2018: $22.1MERII FY2019: $10.9MERII FY2020: $26.4MERII FY2021: $14.3MERII FY2022: $24MERII FY2023: $21.5MERII FY2024: $23.1MERII FY2025: $23MFY18FY19FY20FY21FY22FY23FY24FY25
ACLS $120.2MERII $23M
Net margin
ACLS FY2018: 10.4%ACLS FY2019: 5.0%ACLS FY2020: 10.5%ACLS FY2021: 14.9%ACLS FY2022: 19.9%ACLS FY2023: 21.8%ACLS FY2024: 19.7%ACLS FY2025: 14.3%ERII FY2018: 29.6%ERII FY2019: 12.6%ERII FY2020: 22.2%ERII FY2021: 13.7%ERII FY2022: 19.1%ERII FY2023: 16.8%ERII FY2024: 15.9%ERII FY2025: 17.0%FY18FY19FY20FY21FY22FY23FY24FY25
ACLS 14.3%ERII 17.0%
Revenue growth
ACLS FY2019: -22.5%ACLS FY2020: +38.4%ACLS FY2021: +39.6%ACLS FY2022: +38.9%ACLS FY2023: +22.9%ACLS FY2024: -10.0%ACLS FY2025: -17.6%ERII FY2019: +16.7%ERII FY2020: +36.9%ERII FY2021: -12.7%ERII FY2022: +20.9%ERII FY2023: +2.2%ERII FY2024: +12.9%ERII FY2025: -6.9%FY19FY20FY21FY22FY23FY24FY25
ACLS -17.6%ERII -6.9%
Free cash flow
ACLS FY2018: $42.3MACLS FY2019: -$25.6MACLS FY2020: $62.3MACLS FY2021: $141.5MACLS FY2022: $204.9MACLS FY2023: $136.2MACLS FY2024: $128.6MACLS FY2025: $107MERII FY2018: $2.3MERII FY2019: -$2.1MERII FY2020: $10.1MERII FY2021: $6.8MERII FY2022: $8.4MERII FY2023: $23.5MERII FY2024: $19.2MERII FY2025: $17.4MFY18FY19FY20FY21FY22FY23FY24FY25
ACLS $107MERII $17.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Axcelis Technologies and Energy Recovery

Which is bigger by revenue, Axcelis Technologies or Energy Recovery?

Axcelis Technologies is bigger by revenue: $839M in fiscal 2025, against $135M for Energy Recovery in fiscal 2025.

Which keeps more of its revenue as profit, Axcelis Technologies or Energy Recovery?

Axcelis Technologies had a net margin of 14.3% in fiscal 2025; Energy Recovery had 17.0% in fiscal 2025.

Which grew revenue faster, Axcelis Technologies or Energy Recovery?

In their latest fiscal years revenue changed by -17.6% at Axcelis Technologies and -6.9% at Energy Recovery.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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