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SAIHW vs CODA vs PESI vs ERII vs FTEK

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
SAIHW
SAIHEAT Limited

Information Technology Services

TechnologyNASDAQ • SG
Market Cap$19K
5Y Perf.-28.5%
CODA
Coda Octopus Group, Inc.

Aerospace & Defense

IndustrialsNASDAQ • US
Market Cap$134M
5Y Perf.+30.8%
PESI
Perma-Fix Environmental Services, Inc.

Waste Management

IndustrialsNASDAQ • US
Market Cap$207M
5Y Perf.+14.5%
ERII
Energy Recovery, Inc.

Industrial - Pollution & Treatment Controls

IndustrialsNASDAQ • US
Market Cap$498M
5Y Perf.-16.9%
FTEK
Fuel Tech, Inc.

Industrial - Pollution & Treatment Controls

IndustrialsNASDAQ • US
Market Cap$48M
5Y Perf.+56.0%

SAIHW vs CODA vs PESI vs ERII vs FTEK — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
SAIHW logoSAIHW
CODA logoCODA
PESI logoPESI
ERII logoERII
FTEK logoFTEK
IndustryInformation Technology ServicesAerospace & DefenseWaste ManagementIndustrial - Pollution & Treatment ControlsIndustrial - Pollution & Treatment Controls
Market Cap$19K$134M$207M$498M$48M
Revenue (TTM)$6M$28M$59M$127M$26M
Net Income (TTM)$-6M$4M$-18M$33M$-3M
Gross Margin-18.2%66.3%4.1%64.5%45.8%
Operating Margin-142.7%17.4%-26.3%24.1%-16.4%
Forward P/E22.5x22.9x
Total Debt$3M$395K$4M$9M$580K
Cash & Equiv.$1M$29M$12M$48M$12M

SAIHW vs CODA vs PESI vs ERII vs FTEKLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

SAIHW
CODA
PESI
ERII
FTEK
StockAug 24Feb 26Return
SAIHEAT Limited (SAIHW)10071.5-28.5%
Coda Octopus Group,… (CODA)100130.8+30.8%
Perma-Fix Environme… (PESI)100114.5+14.5%
Energy Recovery, In… (ERII)10083.1-16.9%
Fuel Tech, Inc. (FTEK)100156.0+56.0%

Price return only. Dividends and distributions are not included.

Quick Verdict: SAIHW vs CODA vs PESI vs ERII vs FTEK

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: CODA leads in 4 of 7 categories (5-stock set), making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Energy Recovery, Inc. is the stronger pick specifically for profitability and margin quality and operational efficiency and capital deployment. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
SAIHW
SAIHEAT Limited
The Lower-Volatility Pick

SAIHW plays a supporting role in this comparison — it may shine differently against other peers.

Best for: technology exposure
CODA
Coda Octopus Group, Inc.
The Income Pick

CODA carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.

  • Dividend streak 0 yrs, beta 1.00
  • Rev growth 30.7%, EPS growth 15.6%, 3Y rev CAGR 6.1%
  • 8.4% 10Y total return vs PESI's 178.6%
  • Lower volatility, beta 1.00, Low D/E 0.7%, current ratio 8.86x
Best for: income & stability and growth exposure
PESI
Perma-Fix Environmental Services, Inc.
The Industrials Pick

PESI lags the leaders in this set but could rank higher in a more targeted comparison.

Best for: industrials exposure
ERII
Energy Recovery, Inc.
The Quality Compounder

ERII is the #2 pick in this set and the best alternative if quality and efficiency is your priority.

  • 25.9% margin vs SAIHW's -106.2%
  • 15.2% ROA vs SAIHW's -32.2%, ROIC 10.3% vs -38.9%
Best for: quality and efficiency
FTEK
Fuel Tech, Inc.
The Industrials Pick

Among these 5 stocks, FTEK doesn't own a clear edge in any measured category.

Best for: industrials exposure
See the full category breakdown
CategoryWinnerWhy
GrowthCODA logoCODA30.7% revenue growth vs SAIHW's -18.2%
ValueCODA logoCODALower P/E (22.5x vs 22.9x)
Quality / MarginsERII logoERII25.9% margin vs SAIHW's -106.2%
Stability / SafetyCODA logoCODABeta 1.00 vs PESI's 1.85, lower leverage
DividendsTieNone of these 5 stocks pay a meaningful dividend
Momentum (1Y)CODA logoCODA+78.9% vs SAIHW's -70.3%
Efficiency (ROA)ERII logoERII15.2% ROA vs SAIHW's -32.2%, ROIC 10.3% vs -38.9%

SAIHW vs CODA vs PESI vs ERII vs FTEK — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

SAIHWSAIHEAT Limited

Segment breakdown not available.

CODACoda Octopus Group, Inc.
FY 2025
Equipment Sales
71.3%$14M
Service
17.3%$4M
Equipment Rentals
7.3%$1M
Software Sales
4.0%$811,912
PESIPerma-Fix Environmental Services, Inc.
FY 2025
Segments Total
50.0%$62M
Treatment
36.6%$45M
Services
13.4%$17M
ERIIEnergy Recovery, Inc.
FY 2025
Water Segment
99.8%$135M
Emerging Technologies Segment
0.2%$285,000
FTEKFuel Tech, Inc.
FY 2025
FUEL CHEM
76.6%$18M
Air Pollution Control
23.4%$5M

SAIHW vs CODA vs PESI vs ERII vs FTEK — Financial Metrics

Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLCODALAGGINGFTEK

Income & Cash Flow (Last 12 Months)

Evenly matched — CODA and ERII each lead in 3 of 6 comparable metrics.

ERII is the larger business by revenue, generating $127M annually — 22.9x SAIHW's $6M. ERII is the more profitable business, keeping 25.9% of every revenue dollar as net income compared to SAIHW's -106.2%. On growth, CODA holds the edge at +28.8% YoY revenue growth, suggesting stronger near-term business momentum.

MetricSAIHW logoSAIHWSAIHEAT LimitedCODA logoCODACoda Octopus Grou…PESI logoPESIPerma-Fix Environ…ERII logoERIIEnergy Recovery, …FTEK logoFTEKFuel Tech, Inc.
RevenueTrailing 12 months$6M$28M$59M$127M$26M
EBITDAEarnings before interest/tax$6M-$14M$41M-$4M
Net IncomeAfter-tax profit$4M-$18M$33M-$3M
Free Cash FlowCash after capex$7M-$14M$27M$88,001
Gross MarginGross profit ÷ Revenue-18.2%+66.3%+4.1%+64.5%+45.8%
Operating MarginEBIT ÷ Revenue-142.7%+17.4%-26.3%+24.1%-16.4%
Net MarginNet income ÷ Revenue-106.2%+14.8%-30.1%+25.9%-11.1%
FCF MarginFCF ÷ Revenue-113.1%+24.6%-23.4%+21.4%+0.3%
Rev. Growth (YoY)Latest quarter vs prior year+28.8%-20.1%-97.5%-4.7%
EPS Growth (YoY)Latest quarter vs prior year+3.0%-110.5%+100.0%-66.0%
Evenly matched — CODA and ERII each lead in 3 of 6 comparable metrics.

Valuation Metrics

Evenly matched — SAIHW and FTEK each lead in 2 of 6 comparable metrics.

At 22.5x trailing earnings, ERII trades at a 30% valuation discount to CODA's 32.2x P/E. On an enterprise value basis, ERII's 16.2x EV/EBITDA is more attractive than CODA's 17.9x.

MetricSAIHW logoSAIHWSAIHEAT LimitedCODA logoCODACoda Octopus Grou…PESI logoPESIPerma-Fix Environ…ERII logoERIIEnergy Recovery, …FTEK logoFTEKFuel Tech, Inc.
Market CapShares × price$19,325$134M$207M$498M$48M
Enterprise ValueMkt cap + debt − cash$2M$106M$200M$460M$36M
Trailing P/EPrice ÷ TTM EPS-0.01x32.16x-14.89x22.45x-20.37x
Forward P/EPrice ÷ next-FY EPS est.22.45x22.91x
PEG RatioP/E ÷ EPS growth rate7.51x
EV / EBITDAEnterprise value multiple17.85x16.23x
Price / SalesMarket cap ÷ Revenue0.00x5.05x3.36x3.70x1.79x
Price / BookPrice ÷ Book value/share0.00x2.30x4.11x2.48x1.19x
Price / FCFMarket cap ÷ FCF22.20x28.57x20.35x
Evenly matched — SAIHW and FTEK each lead in 2 of 6 comparable metrics.

Profitability & Efficiency

Evenly matched — CODA and ERII each lead in 4 of 8 comparable metrics.

ERII delivers a 17.4% return on equity — every $100 of shareholder capital generates $17 in annual profit, vs $-38 for SAIHW. CODA carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to SAIHW's 0.19x. On the Piotroski fundamental quality scale (0–9), CODA scores 7/9 vs SAIHW's 1/9, reflecting strong financial health.

MetricSAIHW logoSAIHWSAIHEAT LimitedCODA logoCODACoda Octopus Grou…PESI logoPESIPerma-Fix Environ…ERII logoERIIEnergy Recovery, …FTEK logoFTEKFuel Tech, Inc.
ROE (TTM)Return on equity-37.7%+7.2%-34.5%+17.4%-7.3%
ROA (TTM)Return on assets-32.2%+6.6%-20.2%+15.2%-6.3%
ROICReturn on invested capital-38.9%+11.2%-21.7%+10.3%-8.8%
ROCEReturn on capital employed-49.1%+8.1%-16.7%+11.3%-8.8%
Piotroski ScoreFundamental quality 0–917566
Debt / EquityFinancial leverage0.19x0.01x0.09x0.05x0.01x
Net DebtTotal debt minus cash$2M-$28M-$7M-$39M-$11M
Cash & Equiv.Liquid assets$1M$29M$12M$48M$12M
Total DebtShort + long-term debt$3M$394,932$4M$9M$580,000
Interest CoverageEBIT ÷ Interest expense-42.14x
Evenly matched — CODA and ERII each lead in 4 of 8 comparable metrics.

Total Returns (Dividends Reinvested)

CODA leads this category, winning 6 of 6 comparable metrics.

A $10,000 investment in CODA five years ago would be worth $14,969 today (with dividends reinvested), compared to $4,567 for ERII. Over the past 12 months, CODA leads with a +78.9% total return vs SAIHW's -70.3%. The 3-year compound annual growth rate (CAGR) favors CODA at 10.4% vs ERII's -26.3% — a key indicator of consistent wealth creation.

MetricSAIHW logoSAIHWSAIHEAT LimitedCODA logoCODACoda Octopus Grou…PESI logoPESIPerma-Fix Environ…ERII logoERIIEnergy Recovery, …FTEK logoFTEKFuel Tech, Inc.
YTD ReturnYear-to-date+0.3%+25.1%-8.8%-31.3%-10.5%
1-Year ReturnPast 12 months-70.3%+78.9%+26.2%-37.3%+60.7%
3-Year ReturnCumulative with dividends-28.5%+34.5%+21.7%-60.0%+19.5%
5-Year ReturnCumulative with dividends-28.5%+49.7%+45.6%-54.3%-27.1%
10-Year ReturnCumulative with dividends-28.5%+844.4%+178.6%-11.9%-7.8%
CAGR (3Y)Annualised 3-year return-10.6%+10.4%+6.8%-26.3%+6.1%
CODA leads this category, winning 6 of 6 comparable metrics.

Risk & Volatility

Evenly matched — SAIHW and CODA each lead in 1 of 2 comparable metrics.

SAIHW is the less volatile stock with a -0.33 beta — it tends to amplify market swings less than PESI's 1.85 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CODA currently trades 68.9% from its 52-week high vs SAIHW's 6.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricSAIHW logoSAIHWSAIHEAT LimitedCODA logoCODACoda Octopus Grou…PESI logoPESIPerma-Fix Environ…ERII logoERIIEnergy Recovery, …FTEK logoFTEKFuel Tech, Inc.
Beta (5Y)Sensitivity to S&P 500-0.33x1.00x1.85x1.53x1.40x
52-Week HighHighest price in past year$0.45$17.28$16.50$18.32$3.65
52-Week LowLowest price in past year$0.02$5.98$8.02$9.30$0.93
% of 52W HighCurrent price vs 52-week peak+6.7%+68.9%+67.7%+51.5%+41.9%
RSI (14)Momentum oscillator 0–10030.448.641.560.647.3
Avg Volume (50D)Average daily shares traded200256K164K996K211K
Evenly matched — SAIHW and CODA each lead in 1 of 2 comparable metrics.

Analyst Outlook

PESI leads this category, winning 1 of 1 comparable metric.

Analyst consensus: CODA as "Buy", PESI as "Hold", ERII as "Buy". Consensus price targets imply 61.1% upside for PESI (target: $18) vs 17.6% for CODA (target: $14).

MetricSAIHW logoSAIHWSAIHEAT LimitedCODA logoCODACoda Octopus Grou…PESI logoPESIPerma-Fix Environ…ERII logoERIIEnergy Recovery, …FTEK logoFTEKFuel Tech, Inc.
Analyst RatingConsensus buy/hold/sellBuyHoldBuy
Price TargetConsensus 12-month target$14.00$18.00$13.00
# AnalystsCovering analysts1116
Dividend YieldAnnual dividend ÷ price
Dividend StreakConsecutive years of raises01
Dividend / ShareAnnual DPS
Buyback YieldShare repurchases ÷ mkt cap0.0%0.0%0.0%+7.2%0.0%
PESI leads this category, winning 1 of 1 comparable metric.
Key Takeaway

CODA leads in 1 of 6 categories (Total Returns). PESI leads in 1 (Analyst Outlook). 4 tied.

Best OverallCoda Octopus Group, Inc. (CODA)Leads 1 of 6 categories
Loading custom metrics...

SAIHW vs CODA vs PESI vs ERII vs FTEK: Key Questions Answered

10 questions · data-driven answers · updated daily

01

Is SAIHW or CODA or PESI or ERII or FTEK a better buy right now?

For growth investors, Coda Octopus Group, Inc.

(CODA) is the stronger pick with 30. 7% revenue growth year-over-year, versus -18. 2% for SAIHEAT Limited (SAIHW). Energy Recovery, Inc. (ERII) offers the better valuation at 22. 5x trailing P/E (22. 9x forward), making it the more compelling value choice. Analysts rate Coda Octopus Group, Inc. (CODA) a "Buy" — based on 1 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which has the better valuation — SAIHW or CODA or PESI or ERII or FTEK?

On trailing P/E, Energy Recovery, Inc.

(ERII) is the cheapest at 22. 5x versus Coda Octopus Group, Inc. at 32. 2x. On forward P/E, Coda Octopus Group, Inc. is actually cheaper at 22. 5x — notably different from the trailing picture, reflecting expected earnings growth.

03

Which is the better long-term investment — SAIHW or CODA or PESI or ERII or FTEK?

Over the past 5 years, Coda Octopus Group, Inc.

(CODA) delivered a total return of +49. 7%, compared to -54. 3% for Energy Recovery, Inc. (ERII). Over 10 years, the gap is even starker: CODA returned +844. 4% versus SAIHW's -28. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

04

Which is safer — SAIHW or CODA or PESI or ERII or FTEK?

By beta (market sensitivity over 5 years), SAIHEAT Limited (SAIHW) is the lower-risk stock at -0.

33β versus Perma-Fix Environmental Services, Inc. 's 1. 85β — meaning PESI is approximately -665% more volatile than SAIHW relative to the S&P 500. On balance sheet safety, Coda Octopus Group, Inc. (CODA) carries a lower debt/equity ratio of 1% versus 19% for SAIHEAT Limited — giving it more financial flexibility in a downturn.

05

Which is growing faster — SAIHW or CODA or PESI or ERII or FTEK?

By revenue growth (latest reported year), Coda Octopus Group, Inc.

(CODA) is pulling ahead at 30. 7% versus -18. 2% for SAIHEAT Limited (SAIHW). On earnings-per-share growth, the picture is similar: Perma-Fix Environmental Services, Inc. grew EPS 43. 6% year-over-year, compared to -18. 1% for Fuel Tech, Inc.. Over a 3-year CAGR, CODA leads at 6. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

06

Which has better profit margins — SAIHW or CODA or PESI or ERII or FTEK?

Energy Recovery, Inc.

(ERII) is the more profitable company, earning 17. 0% net margin versus -106. 2% for SAIHEAT Limited — meaning it keeps 17. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ERII leads at 18. 2% versus -142. 7% for SAIHW. At the gross margin level — before operating expenses — CODA leads at 66. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

07

Is SAIHW or CODA or PESI or ERII or FTEK more undervalued right now?

On forward earnings alone, Coda Octopus Group, Inc.

(CODA) trades at 22. 5x forward P/E versus 22. 9x for Energy Recovery, Inc. — 0. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PESI: 61. 1% to $18. 00.

08

Which pays a better dividend — SAIHW or CODA or PESI or ERII or FTEK?

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

09

Is SAIHW or CODA or PESI or ERII or FTEK better for a retirement portfolio?

For long-horizon retirement investors, SAIHEAT Limited (SAIHW) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0.

33)). Perma-Fix Environmental Services, Inc. (PESI) carries a higher beta of 1. 85 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (SAIHW: -28. 5%, PESI: +178. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

10

What are the main differences between SAIHW and CODA and PESI and ERII and FTEK?

These companies operate in different sectors (SAIHW (Technology) and CODA (Industrials) and PESI (Industrials) and ERII (Industrials) and FTEK (Industrials)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: SAIHW is a small-cap quality compounder stock; CODA is a small-cap high-growth stock; PESI is a small-cap quality compounder stock; ERII is a small-cap quality compounder stock; FTEK is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

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  • Gross Margin > 27%
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(SAIHW: -18.2% · CODA: 28.8%)

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