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Amtech Systems vs Energy Recovery: revenue, profit, margins and growth compared

Amtech Systems brought in $79.4M of revenue in fiscal 2025, Energy Recovery $135M in fiscal 2025. Revenue changed by -21.6% at Amtech Systems and -6.9% at Energy Recovery on the year before, so Energy Recovery grew faster. Amtech Systems kept -38.2% of its revenue as net profit, Energy Recovery 17.0%. Free cash flow was $6.9M at Amtech Systems and $17.4M at Energy Recovery.

Side by side, latest fiscal year

ASYSERII
Fiscal year endedFY2025 (September 30, 2025)FY2025 (December 31, 2025)
Revenue$79.4M$135M
Revenue growth-21.6%-6.9%
Net income-$30.3M$23M
Net margin-38.2%17.0%
Free cash flow$6.9M$17.4M
Free cash flow margin8.7%12.9%
Earnings per share (diluted)-$2.12$0.42
Cash$17.9M$48.1M
Debt$294Kn/a
Price to earningsn/a16.2
Market value$276.3M$347.6M
Dividend yieldn/an/a
Rank by revenue in sector#427 of 530 · Technology#405 of 530 · Technology

Over the years

Revenue
ASYS FY2018: $100.1MASYS FY2019: $85MASYS FY2020: $65.5MASYS FY2021: $85.2MASYS FY2022: $106.3MASYS FY2023: $113.3MASYS FY2024: $101.2MASYS FY2025: $79.4MERII FY2018: $74.5MERII FY2019: $86.9MERII FY2020: $119MERII FY2021: $103.9MERII FY2022: $125.6MERII FY2023: $128.3MERII FY2024: $144.9MERII FY2025: $135MFY18FY19FY20FY21FY22FY23FY24FY25
ASYS $79.4MERII $135M
Net income
ASYS FY2018: $5.3MASYS FY2019: -$5.2MASYS FY2020: -$15.7MASYS FY2021: $1.5MASYS FY2022: $17.4MASYS FY2023: -$12.6MASYS FY2024: -$8.5MASYS FY2025: -$30.3MERII FY2018: $22.1MERII FY2019: $10.9MERII FY2020: $26.4MERII FY2021: $14.3MERII FY2022: $24MERII FY2023: $21.5MERII FY2024: $23.1MERII FY2025: $23MFY18FY19FY20FY21FY22FY23FY24FY25
ASYS -$30.3MERII $23M
Net margin
ASYS FY2018: 5.3%ASYS FY2019: -6.1%ASYS FY2020: -24.0%ASYS FY2021: 1.8%ASYS FY2022: 16.3%ASYS FY2023: -11.1%ASYS FY2024: -8.4%ASYS FY2025: -38.2%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
ASYS -38.2%ERII 17.0%
Revenue growth
ASYS FY2019: -15.0%ASYS FY2020: -23.0%ASYS FY2021: +30.2%ASYS FY2022: +24.8%ASYS FY2023: +6.6%ASYS FY2024: -10.7%ASYS FY2025: -21.6%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
ASYS -21.6%ERII -6.9%
Free cash flow
ASYS FY2018: -$15.3MASYS FY2019: -$541KASYS FY2020: -$4.3MASYS FY2021: -$9MASYS FY2022: $4.1MASYS FY2023: -$10.6MASYS FY2024: $5MASYS FY2025: $6.9MERII FY2018: $2.3MERII FY2019: -$2.1MERII FY2020: $10.1MERII FY2021: $6.8MERII FY2022: $8.4MERII FY2023: $23.5MERII FY2024: $19.2MERII FY2025: $17.4MFY18FY19FY20FY21FY22FY23FY24FY25
ASYS $6.9MERII $17.4M

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

Questions about Amtech Systems and Energy Recovery

Which is bigger by revenue, Amtech Systems or Energy Recovery?

Energy Recovery is bigger by revenue: $135M in fiscal 2025, against $79.4M for Amtech Systems in fiscal 2025.

Which keeps more of its revenue as profit, Amtech Systems or Energy Recovery?

Amtech Systems had a net margin of -38.2% in fiscal 2025; Energy Recovery had 17.0% in fiscal 2025.

Which grew revenue faster, Amtech Systems or Energy Recovery?

In their latest fiscal years revenue changed by -21.6% at Amtech Systems 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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