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ACM Research vs Energy Recovery: revenue, profit, margins and growth compared

ACM Research brought in $901.3M of revenue in fiscal 2025, Energy Recovery $135M in fiscal 2025. Revenue changed by +15.2% at ACM Research and -6.9% at Energy Recovery on the year before, so ACM Research grew faster. ACM Research kept 10.4% of its revenue as net profit, Energy Recovery 17.0%. Free cash flow was -$66.6M at ACM Research and $17.4M at Energy Recovery.

Side by side, latest fiscal year

ACMRERII
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$901.3M$135M
Revenue growth+15.2%-6.9%
Net income$94.1M$23M
Net margin10.4%17.0%
Free cash flow-$66.6M$17.4M
Free cash flow margin-7.4%12.9%
Earnings per share (diluted)$1.37$0.42
Cash$757.4M$48.1M
Debt$214Mn/a
Price to earnings56.416.2
Market value$5.4B$347.6M
Dividend yieldn/an/a
Rank by revenue in sector#228 of 530 · Technology#405 of 530 · Technology

Over the years

Revenue
ACMR FY2018: $74.6MACMR FY2019: $107.5MACMR FY2020: $156.6MACMR FY2021: $259.8MACMR FY2022: $388.8MACMR FY2023: $557.7MACMR FY2024: $782.1MACMR FY2025: $901.3MERII FY2018: $74.5MERII FY2019: $86.9MERII FY2020: $119MERII FY2021: $103.9MERII FY2022: $125.6MERII FY2023: $128.3MERII FY2024: $144.9MERII FY2025: $135MFY18FY19FY20FY21FY22FY23FY24FY25
ACMR $901.3MERII $135M
Net income
ACMR FY2018: $6.6MACMR FY2019: $18.9MACMR FY2020: $18.8MACMR FY2021: $37.8MACMR FY2022: $39.3MACMR FY2023: $77.3MACMR FY2024: $103.6MACMR FY2025: $94.1MERII FY2018: $22.1MERII FY2019: $10.9MERII FY2020: $26.4MERII FY2021: $14.3MERII FY2022: $24MERII FY2023: $21.5MERII FY2024: $23.1MERII FY2025: $23MFY18FY19FY20FY21FY22FY23FY24FY25
ACMR $94.1MERII $23M
Net margin
ACMR FY2018: 8.8%ACMR FY2019: 17.6%ACMR FY2020: 12.0%ACMR FY2021: 14.5%ACMR FY2022: 10.1%ACMR FY2023: 13.9%ACMR FY2024: 13.2%ACMR FY2025: 10.4%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
ACMR 10.4%ERII 17.0%
Revenue growth
ACMR FY2019: +44.1%ACMR FY2020: +45.7%ACMR FY2021: +65.8%ACMR FY2022: +49.7%ACMR FY2023: +43.4%ACMR FY2024: +40.2%ACMR FY2025: +15.2%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
ACMR +15.2%ERII -6.9%
Free cash flow
ACMR FY2018: $5.1MACMR FY2019: $8.4MACMR FY2020: -$18.8MACMR FY2021: -$49.2MACMR FY2022: -$153.3MACMR FY2023: -$137.2MACMR FY2024: $70MACMR FY2025: -$66.6MERII FY2018: $2.3MERII FY2019: -$2.1MERII FY2020: $10.1MERII FY2021: $6.8MERII FY2022: $8.4MERII FY2023: $23.5MERII FY2024: $19.2MERII FY2025: $17.4MFY18FY19FY20FY21FY22FY23FY24FY25
ACMR -$66.6MERII $17.4M

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

Questions about ACM Research and Energy Recovery

Which is bigger by revenue, ACM Research or Energy Recovery?

ACM Research is bigger by revenue: $901.3M in fiscal 2025, against $135M for Energy Recovery in fiscal 2025.

Which keeps more of its revenue as profit, ACM Research or Energy Recovery?

ACM Research had a net margin of 10.4% in fiscal 2025; Energy Recovery had 17.0% in fiscal 2025.

Which grew revenue faster, ACM Research or Energy Recovery?

In their latest fiscal years revenue changed by +15.2% at ACM Research 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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