Energy Recovery, Inc. balance sheet

At the end of fiscal 2025, Energy Recovery, Inc. had total assets of $232m, total liabilities of $25.3m and shareholders' equity of $206m. It held $48.1m in cash against $0 of debt: net cash of $48.1m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Energy Recovery, Inc.: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	59	55	19	17	14	16	100	61	28	22	26	94	74	56	68	30	48	61
Receivables	—	10	6	13	15	11	12	12	12	10	13	12	21	34	47	64	77	14
Inventory	—	10	8	5	5	8	7	5	6	7	10	12	20	28	26	25	24	38
Total current assets	—	88	58	61	52	53	124	122	126	120	113	143	152	158	185	174	181	149
Goodwill	—	13	13	13	13	13	13	13	13	13	13	13	13	13	13	13	13	11
Total assets	—	134	111	105	102	86	152	149	164	180	189	204	214	217	253	243	232	198
Accounts payable	—	1	2	2	1	2	2	2	4	1	1	1	1	1	3	3	2	5
Deferred revenue (current)	—	2	1	1	1	1	6	6	16	16	16	2	3	1	1	1	1	1
Total current liabilities	—	10	10	13	11	12	16	17	30	27	28	16	20	18	21	23	17	19
Short-term debt	—	0	0	—	—	—	0	0	0	0	—	—	—	—	—	—	—	—
Long-term debt	—	0	0	—	—	—	0	0	0	0	—	—	—	—	—	—	—	—
Total debt	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total liabilities	—	13	14	17	15	16	88	84	73	66	53	33	35	32	33	33	25	25
Shareholders' equity	121	121	97	87	87	70	64	68	92	113	136	172	179	185	220	210	206	172
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	—	—	−3	—	—	—	—	—	—	—	—	—	—
Net debt (negative = net cash)	−59	−55	−18	−17	−14	−16	−100	−61	−28	−22	−26	−94	−74	−56	−68	−30	−48	−61
Shares outstanding	—	53m	53m	51m	51m	52m	52m	53m	54m	54m	55m	56m	57m	56m	57m	55m	53m	51m

US$ millions unless shown otherwise. Fiscal quarters.

Energy Recovery, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	32	64	32	33	44	77	39	14
Inventory	33	25	32	33	34	24	31	38
Total current assets	190	174	155	152	156	181	161	149
Goodwill	13	13	13	13	13	13	11	11
Total assets	263	243	225	212	210	232	209	198
Accounts payable	3	3	3	3	5	2	3	5
Deferred revenue (current)	3	1	1	2	2	1	1	1
Total current liabilities	19	23	18	19	21	17	17	19
Total liabilities	29	33	27	27	29	25	25	25
Shareholders' equity	234	210	198	185	181	206	184	172
Shares outstanding	58m	55m	55m	54m	53m	53m	52m	51m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Energy Recovery, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Energy Recovery, Inc.