Energy Recovery (ERII)
Market Price (1/22/2026): $14.4 | Market Cap: $765.5 MilSector: Industrials | Industry: Environmental & Facilities Services
Energy Recovery (ERII)
Market Price (1/22/2026): $14.4Market Cap: $765.5 MilSector: IndustrialsIndustry: Environmental & Facilities Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15% | Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -107% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 36x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 37x |
| Low stock price volatilityVol 12M is 41% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -17% | |
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Sustainable Resource Management. Themes include Desalination, Wastewater Management, Show more. | Key risksERII key risks include [1] a clouded path to revenue growth and a slow rollout of its CO2 business, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15% |
| Low stock price volatilityVol 12M is 41% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Sustainable Resource Management. Themes include Desalination, Wastewater Management, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -107% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 36x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 37x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -17% |
| Key risksERII key risks include [1] a clouded path to revenue growth and a slow rollout of its CO2 business, Show more. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
1. Revised Commercialization Timeline for CO2 Business. Energy Recovery's CO2 business, a key growth area for the company, faced a slower-than-anticipated rollout and a revised commercialization timeline. In November 2025, management indicated that a commercial agreement with a large OEM was "probably a year away," with real market adoption not expected until 2027. This pushed back previous expectations, which had anticipated an initial commercial agreement in Q3 2025, likely dampening investor enthusiasm for this segment's near-term revenue contribution.
2. Q3 2025 Revenue Miss. Energy Recovery reported a 17.1% year-over-year decline in revenue for the third quarter of 2025, reaching $32.00 million, which fell short of analyst expectations of $32.93 million. Although the company's adjusted earnings per share (EPS) of $0.12 exceeded the consensus estimate of $0.09, the significant revenue miss signaled a potential slowdown in top-line growth and could have contributed to investor concerns.
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Stock Movement Drivers
Fundamental Drivers
The -15.8% change in ERII stock from 10/31/2025 to 1/21/2026 was primarily driven by a -15.2% change in the company's Net Income Margin (%).| 10312025 | 1212026 | Change | |
|---|---|---|---|
| Stock Price ($) | 17.11 | 14.41 | -15.8% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 142 | 135 | -4.6% |
| Net Income Margin (%) | 17.0% | 14.4% | -15.2% |
| P/E Multiple | 38.5 | 39.3 | 2.0% |
| Shares Outstanding (Mil) | 54 | 53 | 2.0% |
| Cumulative Contribution | -15.8% |
Market Drivers
10/31/2025 to 1/21/2026| Return | Correlation | |
|---|---|---|
| ERII | -15.8% | |
| Market (SPY) | 0.5% | 45.0% |
| Sector (XLI) | 7.3% | 41.4% |
Fundamental Drivers
The 7.2% change in ERII stock from 7/31/2025 to 1/21/2026 was primarily driven by a 13.9% change in the company's P/E Multiple.| 7312025 | 1212026 | Change | |
|---|---|---|---|
| Stock Price ($) | 13.45 | 14.41 | 7.2% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 141 | 135 | -4.1% |
| Net Income Margin (%) | 15.2% | 14.4% | -5.1% |
| P/E Multiple | 34.5 | 39.3 | 13.9% |
| Shares Outstanding (Mil) | 55 | 53 | 3.2% |
| Cumulative Contribution | 7.1% |
Market Drivers
7/31/2025 to 1/21/2026| Return | Correlation | |
|---|---|---|
| ERII | 7.2% | |
| Market (SPY) | 8.7% | 37.8% |
| Sector (XLI) | 9.9% | 39.7% |
Fundamental Drivers
The 0.5% change in ERII stock from 1/31/2025 to 1/21/2026 was primarily driven by a 8.0% change in the company's Shares Outstanding (Mil).| 1312025 | 1212026 | Change | |
|---|---|---|---|
| Stock Price ($) | 14.34 | 14.41 | 0.5% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 135 | 135 | 0.1% |
| Net Income Margin (%) | 14.4% | 14.4% | 0.6% |
| P/E Multiple | 42.7 | 39.3 | -8.1% |
| Shares Outstanding (Mil) | 58 | 53 | 8.0% |
| Cumulative Contribution | -0.1% |
Market Drivers
1/31/2025 to 1/21/2026| Return | Correlation | |
|---|---|---|
| ERII | 0.5% | |
| Market (SPY) | 14.9% | 40.7% |
| Sector (XLI) | 21.5% | 41.5% |
Fundamental Drivers
The -34.9% change in ERII stock from 1/31/2023 to 1/21/2026 was primarily driven by a -50.5% change in the company's P/E Multiple.| 1312023 | 1212026 | Change | |
|---|---|---|---|
| Stock Price ($) | 22.13 | 14.41 | -34.9% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 117 | 135 | 15.7% |
| Net Income Margin (%) | 13.3% | 14.4% | 8.3% |
| P/E Multiple | 79.3 | 39.3 | -50.5% |
| Shares Outstanding (Mil) | 56 | 53 | 4.9% |
| Cumulative Contribution | -35.0% |
Market Drivers
1/31/2023 to 1/21/2026| Return | Correlation | |
|---|---|---|
| ERII | -34.9% | |
| Market (SPY) | 74.9% | 33.7% |
| Sector (XLI) | 70.4% | 36.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ERII Return | 58% | -5% | -8% | -22% | -8% | 4% | 2% |
| Peers Return | 19% | -13% | 30% | 21% | 11% | 5% | 91% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 81% |
Monthly Win Rates [3] | |||||||
| ERII Win Rate | 67% | 42% | 50% | 50% | 58% | 100% | |
| Peers Win Rate | 60% | 33% | 58% | 60% | 57% | 100% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 0% | |
Max Drawdowns [4] | |||||||
| ERII Max Drawdown | -0% | -20% | -31% | -34% | -23% | 0% | |
| Peers Max Drawdown | -8% | -33% | -9% | -6% | -22% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: XYL, FLS, PNR, ITT, IEX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 1/21/2026 (YTD)
How Low Can It Go
| Event | ERII | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -53.7% | -25.4% |
| % Gain to Breakeven | 116.2% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -41.0% | -33.9% |
| % Gain to Breakeven | 69.5% | 51.3% |
| Time to Breakeven | 249 days | 148 days |
| 2018 Correction | ||
| % Loss | -45.7% | -19.8% |
| % Gain to Breakeven | 84.1% | 24.7% |
| Time to Breakeven | 698 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -62.0% | -56.8% |
| % Gain to Breakeven | 162.8% | 131.3% |
| Time to Breakeven | 2,599 days | 1,480 days |
Compare to XYL, FLS, PNR, ITT, IEX
In The Past
Energy Recovery's stock fell -53.7% during the 2022 Inflation Shock from a high on 7/18/2023. A -53.7% loss requires a 116.2% gain to breakeven.
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AI Analysis | Feedback
- NVIDIA for industrial energy efficiency
- Intel for desalination energy savings
- Qualcomm for industrial fluid energy recovery
AI Analysis | Feedback
- PX Pressure Exchanger®: A device that recovers up to 98% of the otherwise wasted energy from the brine stream of seawater reverse osmosis (SWRO) desalination plants.
- Turbochargers and High-Pressure Pumps: Complementary energy recovery devices and pumps used in large-scale desalination systems to optimize efficiency and performance.
- PX G1300™ and PX Q Series: Energy recovery devices specifically designed for transcritical CO2 industrial refrigeration systems to improve efficiency and reduce energy consumption.
AI Analysis | Feedback
Energy Recovery (symbol: ERII) primarily sells its products to other companies, operating on a business-to-business (B2B) model. Its energy recovery devices, such as the Pressure Exchanger, are critical components integrated into large industrial systems.
According to its recent SEC filings (e.g., 2023 10-K), no single customer accounted for 10% or more of its total consolidated revenues. This indicates that the company has a diversified customer base within its target industries, and no individual publicly traded company consistently meets a "major" threshold for specific disclosure. Instead, its major customers fall into the following categories:
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Engineering, Procurement, and Construction (EPC) Contractors: These are global firms responsible for designing, building, and procuring equipment for large-scale industrial projects, particularly water desalination plants. They integrate Energy Recovery's products into the overall plant design and construction.
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Original Equipment Manufacturers (OEMs): Companies that produce and sell larger industrial systems, such as industrial refrigeration units, CO2 compression systems, or specialized desalination modules. They incorporate Energy Recovery's energy recovery devices as key components within their offerings.
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Large Industrial End-Users and Utilities: Energy Recovery sometimes sells directly to large utility providers (like major water utilities) or substantial industrial operators in sectors such as oil & gas or industrial refrigeration, especially for new installations or upgrades. Historically, the Saline Water Conversion Corporation (SWCC) of Saudi Arabia, a government-owned entity (not publicly traded), has been a significant end-user customer for desalination projects, though its percentage of ERII's total revenue fluctuates and may not consistently exceed the 10% disclosure threshold.
AI Analysis | Feedback
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David Moon, President and Chief Executive OfficerDavid Moon was appointed President and Chief Executive Officer of Energy Recovery in January 2024, after serving as interim President and CEO since October 2023. He brings over 25 years of leadership experience in commercial and industrial technology development, manufacturing, and marketing. Prior to his current role, Mr. Moon served as President of Carrier Commercial Refrigeration (CCR) from 2020 to 2021. He also advised Ares Management LLC on the acquisition of CoolSys and subsequently joined its Board. From 2006 to 2017, he was the President and Chief Operating Officer of Heatcraft Worldwide Refrigeration, a division of Lennox International, Inc. Earlier in his career, he held various management positions at Allied Signal, Inc., Case Corporation, and Tenneco Oil Company.
Michael Mancini, Chief Financial OfficerMichael Mancini was appointed Chief Financial Officer of Energy Recovery, effective August 5, 2024. He is an experienced CFO and business strategist with extensive capital markets expertise. Before joining Energy Recovery, Mr. Mancini served as CFO for four years at Astranis Space Technologies Corp. He also held the role of CFO and Executive Vice President of Strategy for Aerion Supersonic, where he established the finance and accounting organization and led significant partnership and financing strategy efforts. His background includes experience as a private equity and hedge fund investor, focusing on both growth-stage and value-based investment strategies.
Ram Ramanan, Chief Technology OfficerRam Ramanan was appointed Chief Technology Officer in 2025. He previously served as the Executive Vice President of Engineering for Rondo Energy and held multiple leadership roles at Bloom Energy.
William W. Yeung, Chief Legal OfficerWilliam W. Yeung serves as the Chief Legal Officer. He has 20 years of experience in securities laws, corporate governance and compliance, corporate strategy, SEC reporting and regulatory compliance, mergers and acquisitions, and general contracts. His previous roles include General Counsel of SharesPost, Inc. and Senior Legal Executive for Thomas Weisel Partners Group Inc. and Socialuons Inc.
Matt Hostetler, Chief Human Resources OfficerMatt Hostetler was appointed Chief Human Resources Officer in 2024. He brings over 20 years of experience in global human resources leadership across various industries, including OEM, biotechnology, and consumer products. Prior to Energy Recovery, he served as Chief People Officer of Sientra from 2022 to 2024.
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Key Risks to Energy Recovery (ERII)
Energy Recovery Inc. (ERII) faces several key risks that could impact its business performance and financial outlook. These primarily revolve around intense market competition, challenges in revenue growth and market dependency, and the inherent risk of technological obsolescence in a rapidly evolving industry.1. Intense Competition and Market Dependency
Energy Recovery operates in a highly competitive sector with numerous established players and new entrants continuously innovating. Major competitors such as GE Renewable Energy, Covanta, Waste Management, Veolia, AquaVenture, Siemens, and SUEZ are all actively investing in and offering alternative energy recovery solutions. This intense competition can exert pressure on Energy Recovery's market share, pricing, and profitability. Furthermore, the company faces risks related to the future demand for its products and potential market dependencies. Concerns have been raised regarding "stagnant revenues" and a "clouded path" to future revenue targets, with ERII's growth reportedly lagging the broader desalination market. Financial reports also acknowledge risks tied to the future demand for the company's products and the timing of revenue from contracted projects. A slower-than-anticipated rollout and muted expectations for its CO2 business have also been identified as a concern.2. Technological Obsolescence
As a technology-driven company in the energy efficiency sector, Energy Recovery is susceptible to the risk of technological obsolescence. While the energy recovery market is driven by technological innovation and increasing demand for sustainable solutions, this rapid pace of development also means that existing technologies can quickly become outdated. If Energy Recovery does not continuously innovate and adapt its product offerings, its current solutions could be superseded by newer, more efficient, or more cost-effective technologies developed by competitors. This could erode its competitive advantage and market position over time.3. Stock-Based Compensation
A notable financial risk for Energy Recovery is its significant reliance on stock-based compensation. Reports indicate that "heavy stock-based compensation" continues to weigh on the company's earnings, potentially diluting shareholder value and leading to an inflation of adjusted profitability metrics. This practice can impact the perceived and actual financial health of the company by increasing expenses and potentially obscuring true operational profitability.AI Analysis | Feedback
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Energy Recovery (ERII) primarily focuses on energy efficiency technology solutions across several key industries, with their main products including Pressure Exchangers (PX), hydraulic turbochargers, and high-pressure pumps. These technologies are applied in desalination, wastewater treatment, and CO2 refrigeration systems.
Addressable Markets:
- Seawater Reverse Osmosis (SWRO) Desalination: The global desalination market is projected to be over $25 billion in 2025. The market was estimated at $13.8 billion globally in 2019 and has been compounding at approximately 13-14% per year since then. Energy Recovery's PX Pressure Exchanger is a flagship product in this industry, where the company holds a majority market share.
- Wastewater Treatment: The global wastewater recovery system market was valued at USD 44.5 billion in 2024 and is estimated to reach USD 107.3 billion by 2034, growing at a compound annual growth rate (CAGR) of 9.2% from 2025 to 2034. The U.S. wastewater recovery system market alone was valued at USD 15.1 billion in 2024.
- CO2 Refrigeration: The global subcritical CO2 refrigeration system market is projected to grow from USD 3.8 billion in 2025 to USD 8.2 billion by 2035, at a CAGR of 8.0%. Energy Recovery's PX G1300 is specifically designed for CO2-based refrigeration systems.
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Expected Drivers of Future Revenue Growth for Energy Recovery (ERII)
Energy Recovery (NASDAQ: ERII) is poised for future revenue growth over the next 2-3 years, driven by its established core business and strategic expansion into new and emerging markets. The key drivers include:
- Sustained Growth in the Desalination Market: Energy Recovery's core desalination business continues to demonstrate durable growth and maintains a strong market position. The global desalination equipment market is projected to grow at a compound annual growth rate (CAGR) of 10.6%, providing a solid foundation for ERII's primary revenue stream. The recent expansion of the design life of their PX® Pressure Exchanger® devices to 30 years further reinforces the reliability and attractiveness of their offerings in this sector.
- Expansion in the Industrial and Municipal Wastewater Treatment Sector: The company is actively growing its presence in the wastewater treatment market, particularly targeting municipal and industrial plants in regions like India and China. This segment has shown significant traction, doubling its revenue for three consecutive years, with a target of $13-16 million in revenue for 2025. Energy Recovery has already generated revenue from 16 diverse industry verticals within wastewater and has a pipeline of potential projects, with 12 industries each exceeding $1 million in potential revenue. Their Ultra PX™ device is specifically designed to meet the increasing demand for energy-efficient solutions in industrial wastewater treatment, especially for Ultra High-Pressure Reverse Osmosis (UHPRO) applications.
- Penetration of the CO2 Refrigeration Market with the PX G1300: Energy Recovery's PX G1300 product represents a significant growth opportunity in the commercial CO2 refrigeration market. This technology offers substantial energy savings, ranging from 15-30% in supermarket installations, and enhances cooling capacity and system stability. While the rollout in this sector is anticipated to be more gradual than initially projected due to customer adoption curves, the shift towards climate-friendly CO2 refrigerants, especially in Europe and the commencing transition in the United States, positions the PX G1300 as a vital energy-saving solution.
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Share Repurchases
- Energy Recovery authorized a new share repurchase program of up to $25 million in August 2025, following previous authorizations.
- In February 2025, a $30 million share repurchase program was approved, which was nearing completion as of August 2025.
- A $50 million share repurchase program authorized in November 2024 was completed in Q4 2024, resulting in the repurchase of 3.2 million shares at an average price of $15.39 per share.
Share Issuance
- Share issuances are primarily related to equity from employee incentive plans.
- Stock-based compensation, which contributes to share issuance, was $10.32 million in 2024, $8.04 million in 2023, and $6.51 million in 2022.
- The number of shares outstanding decreased from 58.3 million as of September 30, 2024, to 52,979,801 as of September 30, 2025, indicating that share repurchases have offset or exceeded new issuances.
Capital Expenditures
- Capital expenditures were approximately $1.17 million in 2024, $2.48 million in 2023, and $3.13 million in 2022.
- Expected capital expenditures are $5 million for 2025 and $5 million for 2026.
- The company consistently generates free cash flow exceeding its capital expenditure and growth capital needs.
Latest Trefis Analyses
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|---|---|
| ARTICLES |
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Peer Comparisons for Energy Recovery
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 124.45 |
| Mkt Cap | 14.7 |
| Rev LTM | 3,971 |
| Op Inc LTM | 684 |
| FCF LTM | 607 |
| FCF 3Y Avg | 527 |
| CFO LTM | 684 |
| CFO 3Y Avg | 621 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.4% |
| Rev Chg 3Y Avg | 7.5% |
| Rev Chg Q | 5.7% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Mgn LTM | 16.5% |
| Op Mgn 3Y Avg | 14.9% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 16.3% |
| CFO/Rev 3Y Avg | 16.5% |
| FCF/Rev LTM | 14.5% |
| FCF/Rev 3Y Avg | 14.1% |
Price Behavior
| Market Price | $14.41 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 07/02/2008 | |
| Distance from 52W High | -20.4% | |
| 50 Days | 200 Days | |
| DMA Price | $14.21 | $14.26 |
| DMA Trend | down | down |
| Distance from DMA | 1.4% | 1.1% |
| 3M | 1YR | |
| Volatility | 45.5% | 41.2% |
| Downside Capture | 220.37 | 106.27 |
| Upside Capture | 96.30 | 86.67 |
| Correlation (SPY) | 39.1% | 40.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.99 | 1.81 | 1.21 | 1.30 | 0.87 | 1.03 |
| Up Beta | 0.76 | 1.59 | 1.14 | 1.43 | 0.82 | 1.00 |
| Down Beta | 0.39 | 1.90 | 0.95 | 1.42 | 0.81 | 0.78 |
| Up Capture | 50% | 77% | 90% | 115% | 76% | 86% |
| Bmk +ve Days | 11 | 23 | 37 | 72 | 143 | 431 |
| Stock +ve Days | 10 | 20 | 32 | 66 | 128 | 379 |
| Down Capture | 191% | 250% | 166% | 127% | 106% | 108% |
| Bmk -ve Days | 11 | 18 | 27 | 55 | 108 | 320 |
| Stock -ve Days | 12 | 21 | 32 | 59 | 119 | 363 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ERII | |
|---|---|---|---|---|
| ERII | -2.4% | 41.2% | 0.05 | - |
| Sector ETF (XLI) | 22.1% | 19.1% | 0.92 | 41.8% |
| Equity (SPY) | 15.8% | 19.3% | 0.63 | 40.7% |
| Gold (GLD) | 79.5% | 20.4% | 2.78 | 5.7% |
| Commodities (DBC) | 5.7% | 15.3% | 0.16 | 11.5% |
| Real Estate (VNQ) | 5.8% | 16.7% | 0.17 | 35.4% |
| Bitcoin (BTCUSD) | -14.7% | 39.8% | -0.31 | 16.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ERII | |
|---|---|---|---|---|
| ERII | 0.4% | 46.2% | 0.17 | - |
| Sector ETF (XLI) | 14.8% | 17.2% | 0.69 | 41.1% |
| Equity (SPY) | 14.0% | 17.1% | 0.66 | 41.2% |
| Gold (GLD) | 20.8% | 15.7% | 1.07 | 8.4% |
| Commodities (DBC) | 11.4% | 18.7% | 0.49 | 10.0% |
| Real Estate (VNQ) | 5.7% | 18.8% | 0.21 | 38.3% |
| Bitcoin (BTCUSD) | 19.0% | 58.0% | 0.53 | 18.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ERII | |
|---|---|---|---|---|
| ERII | 9.2% | 49.4% | 0.37 | - |
| Sector ETF (XLI) | 14.7% | 19.9% | 0.66 | 43.9% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 42.7% |
| Gold (GLD) | 15.7% | 14.9% | 0.87 | 4.5% |
| Commodities (DBC) | 8.2% | 17.6% | 0.38 | 20.4% |
| Real Estate (VNQ) | 5.8% | 20.8% | 0.25 | 34.4% |
| Bitcoin (BTCUSD) | 70.3% | 66.7% | 1.09 | 11.8% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/5/2025 | -16.0% | -17.4% | -16.0% |
| 8/6/2025 | 7.6% | 7.3% | 5.9% |
| 5/7/2025 | -18.6% | -18.2% | -16.0% |
| 2/26/2025 | 2.5% | 6.3% | 10.2% |
| 10/30/2024 | 0.0% | 9.7% | -12.9% |
| 7/31/2024 | 20.6% | 9.4% | 12.8% |
| 5/1/2024 | -11.0% | -7.9% | -7.8% |
| 2/21/2024 | -3.3% | -2.2% | -0.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 11 |
| # Negative | 7 | 8 | 10 |
| Median Positive | 3.6% | 6.3% | 12.1% |
| Median Negative | -14.6% | -14.1% | -9.4% |
| Max Positive | 22.9% | 24.6% | 31.0% |
| Max Negative | -27.5% | -25.7% | -27.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/05/2025 | 10-Q (09/30/2025) |
| 06/30/2025 | 08/06/2025 | 10-Q (06/30/2025) |
| 03/31/2025 | 05/07/2025 | 10-Q (03/31/2025) |
| 12/31/2024 | 02/26/2025 | 10-K (12/31/2024) |
| 09/30/2024 | 10/30/2024 | 10-Q (09/30/2024) |
| 06/30/2024 | 07/31/2024 | 10-Q (06/30/2024) |
| 03/31/2024 | 05/01/2024 | 10-Q (03/31/2024) |
| 12/31/2023 | 02/21/2024 | 10-K (12/31/2023) |
| 09/30/2023 | 11/01/2023 | 10-Q (09/30/2023) |
| 06/30/2023 | 08/02/2023 | 10-Q (06/30/2023) |
| 03/31/2023 | 05/03/2023 | 10-Q (03/31/2023) |
| 12/31/2022 | 02/22/2023 | 10-K (12/31/2022) |
| 09/30/2022 | 11/02/2022 | 10-Q (09/30/2022) |
| 06/30/2022 | 08/03/2022 | 10-Q (06/30/2022) |
| 03/31/2022 | 05/04/2022 | 10-Q (03/31/2022) |
| 12/31/2021 | 02/24/2022 | 10-K (12/31/2021) |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hanstveit, Arve | Direct | Sell | 12082025 | 14.97 | 15,000 | 224,505 | 9,582,173 | Form | |
| 2 | Hanstveit, Arve | Direct | Sell | 12082025 | 14.71 | 15,000 | 220,605 | 9,195,111 | Form | |
| 3 | Yeung, William | Chief Legal Officer | Direct | Sell | 10272025 | 17.50 | 3,530 | 61,775 | 1,703,958 | Form |
| 4 | Yeung, William | Chief Legal Officer | Direct | Sell | 10272025 | 18.00 | 9,168 | 165,024 | 1,752,642 | Form |
| 5 | Yeung, William | Chief Legal Officer | Direct | Sell | 10222025 | 17.00 | 3,530 | 60,010 | 1,655,273 | Form |
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