# Pollution & Treatment Controls — company-by-company sector analysis

> Pollution & Treatment Controls: CECO Environmental Corp. owns the largest revenue base; CleanCore Solutions, Inc. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-04. Not investment advice.

## Bottom line

Pollution & Treatment Controls has underperformed S&P 500 by 16.3% over 52 weeks and 8.6% over 13 weeks. 2 of 7 covered companies beat the S&P 500 on Mansfield relative strength, while 1 of 7 beat the sector itself. CECO Environmental Corp. leads with revenue of $804 million, based on 4 of 7 comparable companies through Mar 2026.

## Sector relative strength

Pollution & Treatment Controls has underperformed S&P 500 by 16.3% over the last 52 weeks. Over 13 weeks the gap is a lead of 8.6%. 2 of 7 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Aduro Clean Technologies Inc. is the strongest against the sector itself at +5.7%.

13-week sector return versus NIFTY 500: 8.6%
52-week sector return versus NIFTY 500: -16%
Stocks leading NIFTY: 2/7
Stocks leading sector: 1/7

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 7
Combined market value: ₹39.0K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Zurn Elkay Water Solutions Corporation (ZWS): 58/100 — Thin evidence · provisional; evidence 53%
   - Growth & earnings 21.4/35 | Capital efficiency 17.0/25 | Valuation 10.0/20 | Relative strength 9.2/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 21.4 + 17 + 10 + 9.2 = 57.6
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
2. Veralto Corporation (VLTO): 54/100 — Thin evidence · provisional; evidence 50%
   - Growth & earnings 17.3/35 | Capital efficiency 16.8/25 | Valuation 10.0/20 | Relative strength 9.6/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 17.3 + 16.8 + 10 + 9.6 = 53.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3. CECO Environmental Corp. (CECO): 43/100 — Thin evidence · provisional; evidence 53%
   - Growth & earnings 14.1/35 | Capital efficiency 11.3/25 | Valuation 10.0/20 | Relative strength 7.2/20
   - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks
   - Exact sum: 14.1 + 11.3 + 10 + 7.2 = 42.6
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4. Energy Recovery, Inc. (ERII): 37/100 — Thin evidence · provisional; evidence 52%
   - Growth & earnings 15.2/35 | Capital efficiency 8.4/25 | Valuation 9.4/20 | Relative strength 3.5/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 15.2 + 8.4 + 9.4 + 3.5 = 36.5
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5. Aduro Clean Technologies Inc. (ADUR): 55/100 — Thin evidence · provisional; evidence 34%
   - Growth & earnings 20.5/35 | Capital efficiency 7.9/25 | Valuation 10.0/20 | Relative strength 17.0/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of the last 12 weeks
   - Exact sum: 20.5 + 7.9 + 10 + 17 = 55.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6. PureCycle Technologies, Inc. (PCT): 45/100 — Thin evidence · provisional; evidence 34%
   - Growth & earnings 18.6/35 | Capital efficiency 10.2/25 | Valuation 10.0/20 | Relative strength 6.0/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks
   - Exact sum: 18.6 + 10.2 + 10 + 6 = 44.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7. CleanCore Solutions, Inc. (ZONE): 35/100 — Thin evidence · provisional; evidence 39%
   - Growth & earnings 14.4/35 | Capital efficiency 7.0/25 | Valuation 10.0/20 | Relative strength 4.0/20
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of 11 weeks with a reading, within the last 12
   - Exact sum: 14.4 + 7 + 10 + 4 = 35.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Market action

CECO Environmental Corp. has the strongest one-year price move in Pollution & Treatment Controls at +60%. Aduro Clean Technologies Inc. leads on Mansfield relative strength against the S&P 500 at +7.5%. 2 of 7 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

### Strongest one-year price performers
1. CECO Environmental Corp. (CECO): 60%
2. Aduro Clean Technologies Inc. (ADUR): 35%
3. Zurn Elkay Water Solutions Corporation (ZWS): 20%
4. Veralto Corporation (VLTO): -10%
5. Energy Recovery, Inc. (ERII): -36%

### Strongest relative strength versus NIFTY 500
1. Aduro Clean Technologies Inc. (ADUR): 7.5%
2. Zurn Elkay Water Solutions Corporation (ZWS): 0.0%
3. CECO Environmental Corp. (CECO): -0.8%
4. Veralto Corporation (VLTO): -10%
5. PureCycle Technologies, Inc. (PCT): -33%

## Revenue Scale & Growth Durability

What the numbers say: CECO Environmental Corp. is the scale leader at $804 million, 486.9% ahead of Energy Recovery, Inc.. CleanCore Solutions, Inc.'s growth is stored at the ≥100% scoring cap from a $4 million base, with 13 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: CECO Environmental Corp. is the scale benchmark; CleanCore Solutions, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: CECO Environmental Corp.'s growth falls below CleanCore Solutions, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: CECO Environmental Corp. · $804 million | 486.9% versus #2 · Energy Recovery, Inc. | 7/8 recent comparable periods | 4/7 companies · 98 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. CECO Environmental Corp. (CECO): ₹804 Cr — older report
2. Energy Recovery, Inc. (ERII): ₹137 Cr — older report
3. PureCycle Technologies, Inc. (PCT): ₹11 Cr — older report
4. CleanCore Solutions, Inc. (ZONE): ₹4 Cr — older report

### Revenue growth — fastest growers
1. CleanCore Solutions, Inc. (ZONE): 100% — older report
2. CECO Environmental Corp. (CECO): 32% — older report
3. Energy Recovery, Inc. (ERII): -2.8% — older report

### 20-quarter Revenue history
- VLTO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.2K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 — | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 — | Jun 2026 ₹1.4K Cr | Sep 2026 —
- ZWS: Dec 2021 ₹232 Cr | Mar 2022 ₹240 Cr | Jun 2022 ₹284 Cr | Sep 2022 ₹418 Cr | Dec 2022 ₹340 Cr | Mar 2023 ₹372 Cr | Jun 2023 ₹403 Cr | Sep 2023 ₹398 Cr | Dec 2023 ₹357 Cr | Mar 2024 ₹374 Cr | Jun 2024 ₹412 Cr | Sep 2024 ₹410 Cr | Dec 2024 ₹371 Cr | Mar 2025 ₹389 Cr | Jun 2025 ₹445 Cr | Sep 2025 ₹455 Cr | Dec 2025 ₹407 Cr | Mar 2026 ₹433 Cr | Jun 2026 — | Sep 2026 —
- CECO: Dec 2021 ₹94 Cr | Mar 2022 ₹92 Cr | Jun 2022 ₹105 Cr | Sep 2022 ₹108 Cr | Dec 2022 ₹116 Cr | Mar 2023 ₹113 Cr | Jun 2023 ₹129 Cr | Sep 2023 ₹149 Cr | Dec 2023 ₹154 Cr | Mar 2024 ₹126 Cr | Jun 2024 ₹138 Cr | Sep 2024 ₹136 Cr | Dec 2024 ₹159 Cr | Mar 2025 ₹177 Cr | Jun 2025 ₹185 Cr | Sep 2025 ₹198 Cr | Dec 2025 ₹215 Cr | Mar 2026 ₹206 Cr | Jun 2026 — | Sep 2026 —
- PCT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹2 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹3 Cr | Mar 2026 ₹4 Cr | Jun 2026 — | Sep 2026 —
- ADUR: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 — | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 ₹34 Cr | Mar 2022 ₹33 Cr | Jun 2022 ₹20 Cr | Sep 2022 ₹30 Cr | Dec 2022 ₹42 Cr | Mar 2023 ₹13 Cr | Jun 2023 ₹21 Cr | Sep 2023 ₹37 Cr | Dec 2023 ₹57 Cr | Mar 2024 ₹12 Cr | Jun 2024 ₹27 Cr | Sep 2024 ₹39 Cr | Dec 2024 ₹67 Cr | Mar 2025 ₹8 Cr | Jun 2025 ₹28 Cr | Sep 2025 ₹32 Cr | Dec 2025 ₹67 Cr | Mar 2026 ₹10 Cr | Jun 2026 — | Sep 2026 —
- ZONE: Dec 2021 — | Mar 2022 — | Jun 2022 ₹3 Cr | Sep 2022 — | Dec 2022 — | Mar 2023 ₹1 Cr | Jun 2023 — | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹1 Cr | Jun 2026 — | Sep 2026 —

### 20-quarter Revenue growth history
- VLTO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 3.0% | Dec 2023 3.2% | Mar 2024 1.7% | Jun 2024 2.8% | Sep 2024 4.7% | Dec 2024 4.4% | Mar 2025 — | Jun 2025 3.4% | Sep 2025 4.3% | Dec 2025 4.4% | Mar 2026 — | Jun 2026 6.8% | Sep 2026 —
- ZWS: Dec 2021 — | Mar 2022 — | Jun 2022 16% | Sep 2022 82% | Dec 2022 47% | Mar 2023 55% | Jun 2023 42% | Sep 2023 -4.8% | Dec 2023 5.0% | Mar 2024 0.5% | Jun 2024 2.2% | Sep 2024 3.0% | Dec 2024 3.9% | Mar 2025 4.0% | Jun 2025 8.0% | Sep 2025 11% | Dec 2025 9.7% | Mar 2026 11% | Jun 2026 — | Sep 2026 —
- CECO: Dec 2021 — | Mar 2022 — | Jun 2022 33% | Sep 2022 35% | Dec 2022 23% | Mar 2023 23% | Jun 2023 23% | Sep 2023 38% | Dec 2023 33% | Mar 2024 12% | Jun 2024 7.0% | Sep 2024 -8.7% | Dec 2024 3.3% | Mar 2025 40% | Jun 2025 34% | Sep 2025 46% | Dec 2025 35% | Mar 2026 16% | Jun 2026 — | Sep 2026 —
- PCT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 100% | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 — | Mar 2022 — | Jun 2022 -4.8% | Sep 2022 43% | Dec 2022 24% | Mar 2023 -61% | Jun 2023 5.0% | Sep 2023 23% | Dec 2023 36% | Mar 2024 -7.7% | Jun 2024 29% | Sep 2024 5.4% | Dec 2024 18% | Mar 2025 -33% | Jun 2025 3.7% | Sep 2025 -18% | Dec 2025 0.0% | Mar 2026 25% | Jun 2026 — | Sep 2026 —
- ZONE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -100% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 0.0% | Sep 2025 — | Dec 2025 — | Mar 2026 0.0% | Jun 2026 — | Sep 2026 —

## Operating Economics & Margin Trend

What the numbers say: Veralto Corporation leads opm at 23.8%; Aduro Clean Technologies Inc. leads margin change at +3610.8 percentage points.

Investor read: Veralto Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Veralto Corporation · 23.8% | 25.3% versus #2 · Zurn Elkay Water Solutions Corporation | 5/8 recent comparable periods | 4/7 companies · 79 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Veralto Corporation (VLTO): 24%
2. Zurn Elkay Water Solutions Corporation (ZWS): 19%
3. CECO Environmental Corp. (CECO): 0.9% — older report
4. Energy Recovery, Inc. (ERII): -153% — older report

### Margin change — fastest expanders
1. Aduro Clean Technologies Inc. (ADUR): +3,610.8 pp — older report
2. PureCycle Technologies, Inc. (PCT): +1,374.7 pp — older report
3. Energy Recovery, Inc. (ERII): +2.7 pp — older report
4. Zurn Elkay Water Solutions Corporation (ZWS): +2.7 pp
5. Veralto Corporation (VLTO): −0.4 pp

### 20-quarter OPM history
- VLTO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 23% | Dec 2022 24% | Mar 2023 24% | Jun 2023 23% | Sep 2023 22% | Dec 2023 22% | Mar 2024 24% | Jun 2024 23% | Sep 2024 23% | Dec 2024 23% | Mar 2025 — | Jun 2025 24% | Sep 2025 23% | Dec 2025 23% | Mar 2026 — | Jun 2026 24% | Sep 2026 —
- ZWS: Dec 2021 5.7% | Mar 2022 18% | Jun 2022 19% | Sep 2022 -2.4% | Dec 2022 5.8% | Mar 2023 12% | Jun 2023 14% | Sep 2023 15% | Dec 2023 9.2% | Mar 2024 14% | Jun 2024 18% | Sep 2024 17% | Dec 2024 13% | Mar 2025 16% | Jun 2025 18% | Sep 2025 17% | Dec 2025 15% | Mar 2026 19% | Jun 2026 — | Sep 2026 —
- CECO: Dec 2021 5.6% | Mar 2022 5.6% | Jun 2022 5.5% | Sep 2022 2.6% | Dec 2022 7.2% | Mar 2023 4.9% | Jun 2023 6.7% | Sep 2023 5.3% | Dec 2023 8.2% | Mar 2024 6.1% | Jun 2024 6.7% | Sep 2024 5.3% | Dec 2024 7.1% | Mar 2025 35% | Jun 2025 9.7% | Sep 2025 4.8% | Dec 2025 7.7% | Mar 2026 0.9% | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 18% | Mar 2022 25% | Jun 2022 -14% | Sep 2022 16% | Dec 2022 35% | Mar 2023 -61% | Jun 2023 -13% | Sep 2023 25% | Dec 2023 36% | Mar 2024 -90% | Jun 2024 -7.4% | Sep 2024 18% | Dec 2024 38% | Mar 2025 -156% | Jun 2025 5.3% | Sep 2025 11% | Dec 2025 47% | Mar 2026 -153% | Jun 2026 — | Sep 2026 —
- ZONE: Dec 2021 — | Mar 2022 — | Jun 2022 -10% | Sep 2022 — | Dec 2022 — | Mar 2023 -41% | Jun 2023 — | Sep 2023 -116% | Dec 2023 -99% | Mar 2024 -139% | Jun 2024 -124% | Sep 2024 -224% | Dec 2024 -375% | Mar 2025 -129% | Jun 2025 -436% | Sep 2025 -911% | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —

### 20-quarter Margin change history
- VLTO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 −1.6 pp | Dec 2023 −1.4 pp | Mar 2024 −0.3 pp | Jun 2024 +0.1 pp | Sep 2024 +1.6 pp | Dec 2024 +0.7 pp | Mar 2025 — | Jun 2025 +1.0 pp | Sep 2025 −0.6 pp | Dec 2025 +0.3 pp | Mar 2026 — | Jun 2026 −0.4 pp | Sep 2026 —
- ZWS: Dec 2021 — | Mar 2022 — | Jun 2022 +3.5 pp | Sep 2022 −16.5 pp | Dec 2022 +0.1 pp | Mar 2023 −6.6 pp | Jun 2023 −5.2 pp | Sep 2023 +17.5 pp | Dec 2023 +3.4 pp | Mar 2024 +2.5 pp | Jun 2024 +3.9 pp | Sep 2024 +2.0 pp | Dec 2024 +4.1 pp | Mar 2025 +2.1 pp | Jun 2025 0.0 pp | Sep 2025 −0.1 pp | Dec 2025 +1.5 pp | Mar 2026 +2.7 pp | Jun 2026 — | Sep 2026 —
- CECO: Dec 2021 — | Mar 2022 — | Jun 2022 +2.8 pp | Sep 2022 +3.3 pp | Dec 2022 +1.6 pp | Mar 2023 −0.7 pp | Jun 2023 +1.2 pp | Sep 2023 +2.7 pp | Dec 2023 +1.0 pp | Mar 2024 +1.2 pp | Jun 2024 0.0 pp | Sep 2024 0.0 pp | Dec 2024 −1.1 pp | Mar 2025 +28.9 pp | Jun 2025 +3.0 pp | Sep 2025 −0.5 pp | Dec 2025 +0.6 pp | Mar 2026 −34.1 pp | Jun 2026 — | Sep 2026 —
- PCT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 +1,374.7 pp | Jun 2026 — | Sep 2026 —
- ADUR: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +1,209.8 pp | Jun 2024 +1,384.0 pp | Sep 2024 −1,790.0 pp | Dec 2024 −5,217.3 pp | Mar 2025 −2,889.9 pp | Jun 2025 −2,654.9 pp | Sep 2025 −6,591.8 pp | Dec 2025 +3,610.8 pp | Mar 2026 — | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 — | Mar 2022 — | Jun 2022 −15.7 pp | Sep 2022 +9.2 pp | Dec 2022 +16.7 pp | Mar 2023 −85.8 pp | Jun 2023 +1.8 pp | Sep 2023 +8.6 pp | Dec 2023 +1.5 pp | Mar 2024 −29.9 pp | Jun 2024 +5.1 pp | Sep 2024 −6.4 pp | Dec 2024 +2.2 pp | Mar 2025 −65.4 pp | Jun 2025 +12.7 pp | Sep 2025 −6.9 pp | Dec 2025 +8.6 pp | Mar 2026 +2.7 pp | Jun 2026 — | Sep 2026 —
- ZONE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 −98.6 pp | Jun 2024 — | Sep 2024 −108.3 pp | Dec 2024 −275.3 pp | Mar 2025 +10.6 pp | Jun 2025 −311.5 pp | Sep 2025 −686.7 pp | Dec 2025 −1,563.6 pp | Mar 2026 −3,362.4 pp | Jun 2026 — | Sep 2026 —

## Profit Scale & Acceleration

What the numbers say: Energy Recovery, Inc. leads with $21 million of TTM profit, 23.5% above CECO Environmental Corp.. CECO Environmental Corp. shows -65.3% growth from a $17 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Energy Recovery, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Energy Recovery, Inc. · $21 million | 23.5% versus #2 · CECO Environmental Corp. | 5/8 recent comparable periods | 5/7 companies · 117 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Energy Recovery, Inc. (ERII): ₹21 Cr — older report
2. CECO Environmental Corp. (CECO): ₹17 Cr — older report
3. Aduro Clean Technologies Inc. (ADUR): ₹-18 Cr — older report
4. CleanCore Solutions, Inc. (ZONE): ₹-158 Cr — older report
5. PureCycle Technologies, Inc. (PCT): ₹-224 Cr — older report

### Profit growth — fastest growers
1. CECO Environmental Corp. (CECO): -65% — older report

### 20-quarter Net profit history
- VLTO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹218 Cr | Dec 2022 ₹216 Cr | Mar 2023 ₹225 Cr | Jun 2023 ₹209 Cr | Sep 2023 ₹205 Cr | Dec 2023 ₹200 Cr | Mar 2024 ₹184 Cr | Jun 2024 ₹203 Cr | Sep 2024 ₹219 Cr | Dec 2024 ₹227 Cr | Mar 2025 — | Jun 2025 ₹225 Cr | Sep 2025 ₹222 Cr | Dec 2025 ₹239 Cr | Mar 2026 — | Jun 2026 ₹254 Cr | Sep 2026 —
- ZWS: Dec 2021 ₹3 Cr | Mar 2022 ₹29 Cr | Jun 2022 ₹36 Cr | Sep 2022 ₹-19 Cr | Dec 2022 ₹10 Cr | Mar 2023 ₹23 Cr | Jun 2023 ₹33 Cr | Sep 2023 ₹35 Cr | Dec 2023 ₹14 Cr | Mar 2024 ₹34 Cr | Jun 2024 ₹45 Cr | Sep 2024 ₹44 Cr | Dec 2024 ₹36 Cr | Mar 2025 ₹41 Cr | Jun 2025 ₹50 Cr | Sep 2025 ₹60 Cr | Dec 2025 ₹42 Cr | Mar 2026 ₹59 Cr | Jun 2026 — | Sep 2026 —
- CECO: Dec 2021 ₹2 Cr | Mar 2022 ₹3 Cr | Jun 2022 ₹5 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹9 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹4 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹5 Cr | Mar 2025 ₹36 Cr | Jun 2025 ₹10 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹0 Cr | Jun 2026 — | Sep 2026 —
- PCT: Dec 2021 ₹-19 Cr | Mar 2022 ₹-25 Cr | Jun 2022 ₹-15 Cr | Sep 2022 ₹-35 Cr | Dec 2022 ₹-9 Cr | Mar 2023 ₹-26 Cr | Jun 2023 ₹-55 Cr | Sep 2023 ₹9 Cr | Dec 2023 ₹-29 Cr | Mar 2024 ₹-86 Cr | Jun 2024 ₹-48 Cr | Sep 2024 ₹-91 Cr | Dec 2024 ₹-65 Cr | Mar 2025 ₹9 Cr | Jun 2025 ₹-144 Cr | Sep 2025 ₹-28 Cr | Dec 2025 ₹-19 Cr | Mar 2026 ₹-33 Cr | Jun 2026 — | Sep 2026 —
- ADUR: Dec 2021 ₹-1 Cr | Mar 2022 ₹-1 Cr | Jun 2022 ₹-1 Cr | Sep 2022 ₹-1 Cr | Dec 2022 ₹-1 Cr | Mar 2023 ₹-2 Cr | Jun 2023 ₹-2 Cr | Sep 2023 ₹-2 Cr | Dec 2023 ₹-2 Cr | Mar 2024 ₹-2 Cr | Jun 2024 ₹-2 Cr | Sep 2024 ₹-2 Cr | Dec 2024 ₹-3 Cr | Mar 2025 ₹-3 Cr | Jun 2025 ₹-4 Cr | Sep 2025 ₹-6 Cr | Dec 2025 ₹-6 Cr | Mar 2026 ₹-2 Cr | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 ₹5 Cr | Mar 2022 ₹8 Cr | Jun 2022 ₹-2 Cr | Sep 2022 ₹5 Cr | Dec 2022 ₹14 Cr | Mar 2023 ₹-6 Cr | Jun 2023 ₹-2 Cr | Sep 2023 ₹10 Cr | Dec 2023 ₹20 Cr | Mar 2024 ₹-8 Cr | Jun 2024 ₹-1 Cr | Sep 2024 ₹8 Cr | Dec 2024 ₹23 Cr | Mar 2025 ₹-10 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹27 Cr | Mar 2026 ₹-12 Cr | Jun 2026 — | Sep 2026 —
- ZONE: Dec 2021 — | Mar 2022 — | Jun 2022 ₹-1 Cr | Sep 2022 — | Dec 2022 — | Mar 2023 ₹0 Cr | Jun 2023 — | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹-1 Cr | Jun 2024 ₹-1 Cr | Sep 2024 ₹-1 Cr | Dec 2024 ₹-1 Cr | Mar 2025 ₹-1 Cr | Jun 2025 ₹-4 Cr | Sep 2025 ₹-13 Cr | Dec 2025 ₹-104 Cr | Mar 2026 ₹-37 Cr | Jun 2026 — | Sep 2026 —

### 20-quarter Profit growth history
- VLTO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -6.0% | Dec 2023 -7.4% | Mar 2024 -18% | Jun 2024 -2.9% | Sep 2024 6.8% | Dec 2024 14% | Mar 2025 — | Jun 2025 11% | Sep 2025 1.4% | Dec 2025 5.3% | Mar 2026 — | Jun 2026 13% | Sep 2026 —
- ZWS: Dec 2021 — | Mar 2022 — | Jun 2022 71% | Sep 2022 -219% | Dec 2022 233% | Mar 2023 -21% | Jun 2023 -8.3% | Sep 2023 — | Dec 2023 40% | Mar 2024 48% | Jun 2024 36% | Sep 2024 26% | Dec 2024 157% | Mar 2025 21% | Jun 2025 11% | Sep 2025 36% | Dec 2025 17% | Mar 2026 44% | Jun 2026 — | Sep 2026 —
- CECO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 350% | Mar 2023 -33% | Jun 2023 -20% | Sep 2023 100% | Dec 2023 -56% | Mar 2024 0.0% | Jun 2024 25% | Sep 2024 -25% | Dec 2024 25% | Mar 2025 1,700% | Jun 2025 100% | Sep 2025 -33% | Dec 2025 0.0% | Mar 2026 -100% | Jun 2026 — | Sep 2026 —
- PCT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 -1,111% | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -467% | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 — | Mar 2022 — | Jun 2022 -300% | Sep 2022 400% | Dec 2022 180% | Mar 2023 -175% | Jun 2023 — | Sep 2023 100% | Dec 2023 43% | Mar 2024 — | Jun 2024 — | Sep 2024 -20% | Dec 2024 15% | Mar 2025 — | Jun 2025 — | Sep 2025 -50% | Dec 2025 17% | Mar 2026 — | Jun 2026 — | Sep 2026 —

## Return On Capital Employed

What the numbers say: Zurn Elkay Water Solutions Corporation leads ROCE at 6.3%, 1.2 percentage points above Veralto Corporation. Aduro Clean Technologies Inc. has the strongest latest improvement at +43.6 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Zurn Elkay Water Solutions Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Zurn Elkay Water Solutions Corporation · 6.3% | 23.5% versus #2 · Veralto Corporation | 8/8 recent comparable periods | 7/7 companies · 119 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Zurn Elkay Water Solutions Corporation (ZWS): 6.3%
2. Veralto Corporation (VLTO): 5.1%
3. CECO Environmental Corp. (CECO): 0.3% — older report
4. PureCycle Technologies, Inc. (PCT): -5.6% — older report
5. Energy Recovery, Inc. (ERII): -7.5% — older report

### ROCE change — fastest improvers
1. Aduro Clean Technologies Inc. (ADUR): +43.6 pp — older report
2. Zurn Elkay Water Solutions Corporation (ZWS): +3.1 pp
3. PureCycle Technologies, Inc. (PCT): −0.2 pp — older report
4. Veralto Corporation (VLTO): −0.8 pp
5. Energy Recovery, Inc. (ERII): −1.7 pp — older report

### 20-quarter ROCE history
- VLTO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 15% | Dec 2022 16% | Mar 2023 — | Jun 2023 — | Sep 2023 7.0% | Dec 2023 7.0% | Mar 2024 13% | Jun 2024 13% | Sep 2024 6.7% | Dec 2024 6.4% | Mar 2025 — | Jun 2025 6.4% | Sep 2025 5.9% | Dec 2025 6.3% | Mar 2026 — | Jun 2026 6.1% | Sep 2026 5.1%
- ZWS: Dec 2021 0.7% | Mar 2022 2.2% | Jun 2022 2.6% | Sep 2022 -0.3% | Dec 2022 1.2% | Mar 2023 2.5% | Jun 2023 3.1% | Sep 2023 2.3% | Dec 2023 1.3% | Mar 2024 2.1% | Jun 2024 2.9% | Sep 2024 2.8% | Dec 2024 2.0% | Mar 2025 2.6% | Jun 2025 3.2% | Sep 2025 3.2% | Dec 2025 2.5% | Mar 2026 3.4% | Jun 2026 6.3% | Sep 2026 —
- CECO: Dec 2021 1.7% | Mar 2022 1.6% | Jun 2022 1.8% | Sep 2022 0.9% | Dec 2022 2.6% | Mar 2023 1.5% | Jun 2023 2.4% | Sep 2023 2.1% | Dec 2023 3.4% | Mar 2024 1.9% | Jun 2024 2.4% | Sep 2024 1.8% | Dec 2024 2.5% | Mar 2025 12% | Jun 2025 3.7% | Sep 2025 1.9% | Dec 2025 3.0% | Mar 2026 0.3% | Jun 2026 — | Sep 2026 —
- PCT: Dec 2021 -4.4% | Mar 2022 -2.5% | Jun 2022 -2.6% | Sep 2022 -2.9% | Dec 2022 -2.9% | Mar 2023 -2.6% | Jun 2023 -3.1% | Sep 2023 -3.4% | Dec 2023 -3.8% | Mar 2024 -5.2% | Jun 2024 -5.3% | Sep 2024 -3.6% | Dec 2024 -4.2% | Mar 2025 -5.4% | Jun 2025 -5.8% | Sep 2025 -4.9% | Dec 2025 -5.7% | Mar 2026 -5.6% | Jun 2026 — | Sep 2026 —
- ADUR: Dec 2021 -303% | Mar 2022 -424% | Jun 2022 -187% | Sep 2022 -134% | Dec 2022 -128% | Mar 2023 -168% | Jun 2023 -83% | Sep 2023 -103% | Dec 2023 -125% | Mar 2024 -126% | Jun 2024 -115% | Sep 2024 -84% | Dec 2024 -73% | Mar 2025 -80% | Jun 2025 -96% | Sep 2025 -65% | Dec 2025 -79% | Mar 2026 -36% | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 3.1% | Mar 2022 4.1% | Jun 2022 -1.6% | Sep 2022 2.6% | Dec 2022 7.1% | Mar 2023 -4.2% | Jun 2023 -1.4% | Sep 2023 4.7% | Dec 2023 9.2% | Mar 2024 -5.2% | Jun 2024 -1.0% | Sep 2024 3.1% | Dec 2024 11% | Mar 2025 -5.8% | Jun 2025 0.7% | Sep 2025 1.7% | Dec 2025 14% | Mar 2026 -7.5% | Jun 2026 — | Sep 2026 —
- ZONE: Dec 2021 — | Mar 2022 0.0% | Jun 2022 4.5% | Sep 2022 — | Dec 2022 — | Mar 2023 8.4% | Jun 2023 0.0% | Sep 2023 -43% | Dec 2023 -36% | Mar 2024 -83% | Jun 2024 -29% | Sep 2024 -24% | Dec 2024 -34% | Mar 2025 -31% | Jun 2025 -67% | Sep 2025 -9.3% | Dec 2025 -42% | Mar 2026 -59% | Jun 2026 — | Sep 2026 —

### 20-quarter ROCE change history
- VLTO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 −8.4 pp | Dec 2023 −8.9 pp | Mar 2024 — | Jun 2024 — | Sep 2024 −0.3 pp | Dec 2024 −0.6 pp | Mar 2025 — | Jun 2025 −6.3 pp | Sep 2025 −0.8 pp | Dec 2025 −0.1 pp | Mar 2026 — | Jun 2026 −0.3 pp | Sep 2026 −0.8 pp
- ZWS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.5 pp | Mar 2023 +0.3 pp | Jun 2023 +0.5 pp | Sep 2023 +2.6 pp | Dec 2023 +0.1 pp | Mar 2024 −0.4 pp | Jun 2024 −0.2 pp | Sep 2024 +0.5 pp | Dec 2024 +0.7 pp | Mar 2025 +0.5 pp | Jun 2025 +0.3 pp | Sep 2025 +0.4 pp | Dec 2025 +0.5 pp | Mar 2026 +0.8 pp | Jun 2026 +3.1 pp | Sep 2026 —
- CECO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.9 pp | Mar 2023 −0.1 pp | Jun 2023 +0.6 pp | Sep 2023 +1.2 pp | Dec 2023 +0.8 pp | Mar 2024 +0.4 pp | Jun 2024 0.0 pp | Sep 2024 −0.3 pp | Dec 2024 −0.9 pp | Mar 2025 +9.7 pp | Jun 2025 +1.3 pp | Sep 2025 +0.1 pp | Dec 2025 +0.5 pp | Mar 2026 −11.3 pp | Jun 2026 — | Sep 2026 —
- PCT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.5 pp | Mar 2023 −0.1 pp | Jun 2023 −0.5 pp | Sep 2023 −0.5 pp | Dec 2023 −0.9 pp | Mar 2024 −2.6 pp | Jun 2024 −2.2 pp | Sep 2024 −0.2 pp | Dec 2024 −0.4 pp | Mar 2025 −0.2 pp | Jun 2025 −0.5 pp | Sep 2025 −1.3 pp | Dec 2025 −1.5 pp | Mar 2026 −0.2 pp | Jun 2026 — | Sep 2026 —
- ADUR: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +175.3 pp | Mar 2023 +256.6 pp | Jun 2023 +104.7 pp | Sep 2023 +31.7 pp | Dec 2023 +3.4 pp | Mar 2024 +41.3 pp | Jun 2024 −32.1 pp | Sep 2024 +18.7 pp | Dec 2024 +51.9 pp | Mar 2025 +46.3 pp | Jun 2025 +18.4 pp | Sep 2025 +18.9 pp | Dec 2025 −5.8 pp | Mar 2026 +43.6 pp | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +4.0 pp | Mar 2023 −8.3 pp | Jun 2023 +0.2 pp | Sep 2023 +2.1 pp | Dec 2023 +2.1 pp | Mar 2024 −1.0 pp | Jun 2024 +0.4 pp | Sep 2024 −1.6 pp | Dec 2024 +2.2 pp | Mar 2025 −0.6 pp | Jun 2025 +1.7 pp | Sep 2025 −1.4 pp | Dec 2025 +3.0 pp | Mar 2026 −1.7 pp | Jun 2026 — | Sep 2026 —
- ZONE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +8.4 pp | Jun 2023 −4.5 pp | Sep 2023 — | Dec 2023 — | Mar 2024 −91.7 pp | Jun 2024 −29.4 pp | Sep 2024 +19.5 pp | Dec 2024 +2.1 pp | Mar 2025 +52.4 pp | Jun 2025 −37.7 pp | Sep 2025 +14.2 pp | Dec 2025 −8.2 pp | Mar 2026 −28.3 pp | Jun 2026 — | Sep 2026 —

## Valuation Against Growth & Quality

What the numbers say: Energy Recovery, Inc. has the lowest comparable PEG at 1.82×. Only 1 of 7 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Energy Recovery, Inc. · 1.82× | Not enough peers | 0/8 recent comparable periods | 1/7 companies · 12 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG
1. Energy Recovery, Inc. (ERII): 1.8 — older report

### P/E — lowest P/E
1. Veralto Corporation (VLTO): 23.4
2. Energy Recovery, Inc. (ERII): 26.5 — older report
3. Zurn Elkay Water Solutions Corporation (ZWS): 31.2
4. CECO Environmental Corp. (CECO): 161.0 — older report

### 20-quarter PEG history
- ZWS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 1.3 | Dec 2023 1.5 | Mar 2024 — | Jun 2024 — | Sep 2024 1.3 | Dec 2024 0.8 | Mar 2025 0.7 | Jun 2025 0.9 | Sep 2025 1.0 | Dec 2025 1.5 | Mar 2026 1.4 | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 2.0 | Dec 2024 3.4 | Mar 2025 — | Jun 2025 1.8 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —

### 20-quarter P/E history
- VLTO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 24.4 | Dec 2023 24.2 | Mar 2024 27.5 | Jun 2024 29.9 | Sep 2024 34.0 | Dec 2024 30.5 | Mar 2025 — | Jun 2025 25.4 | Sep 2025 29.0 | Dec 2025 29.4 | Mar 2026 — | Jun 2026 22.7 | Sep 2026 23.4
- ZWS: Dec 2021 91.0 | Mar 2022 38.1 | Jun 2022 26.2 | Sep 2022 58.3 | Dec 2022 57.2 | Mar 2023 59.3 | Jun 2023 99.6 | Sep 2023 48.3 | Dec 2023 46.0 | Mar 2024 50.7 | Jun 2024 40.3 | Sep 2024 46.1 | Dec 2024 40.5 | Mar 2025 33.7 | Jun 2025 36.2 | Sep 2025 42.0 | Dec 2025 40.4 | Mar 2026 36.2 | Jun 2026 31.2 | Sep 2026 —
- CECO: Dec 2021 155.8 | Mar 2022 68.6 | Jun 2022 29.9 | Sep 2022 29.5 | Dec 2022 23.4 | Mar 2023 28.6 | Jun 2023 28.4 | Sep 2023 31.9 | Dec 2023 54.8 | Mar 2024 65.8 | Jun 2024 80.1 | Sep 2024 85.5 | Dec 2024 84.0 | Mar 2025 17.7 | Jun 2025 19.8 | Sep 2025 36.3 | Dec 2025 43.7 | Mar 2026 161.0 | Jun 2026 — | Sep 2026 —
- ERII: Dec 2021 89.5 | Mar 2022 74.6 | Jun 2022 92.5 | Sep 2022 80.5 | Dec 2022 48.8 | Mar 2023 135.6 | Jun 2023 155.3 | Sep 2023 78.6 | Dec 2023 50.9 | Mar 2024 46.4 | Jun 2024 36.9 | Sep 2024 51.2 | Dec 2024 36.8 | Mar 2025 43.0 | Jun 2025 30.4 | Sep 2025 45.4 | Dec 2025 32.1 | Mar 2026 26.5 | Jun 2026 — | Sep 2026 —


## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 5 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.
- Thin comparisons: Valuation have fewer than three usable current readings.

## Every company
- Veralto Corporation (VLTO) — market value ₹23.5K Cr; latest fundamentals Sep 2026
- Zurn Elkay Water Solutions Corporation (ZWS) — market value ₹8.8K Cr; latest fundamentals Jun 2026
- CECO Environmental Corp. (CECO) — market value ₹4.1K Cr; latest fundamentals Mar 2026
- PureCycle Technologies, Inc. (PCT) — market value ₹1.4K Cr; latest fundamentals Mar 2026
- Aduro Clean Technologies Inc. (ADUR) — market value ₹544 Cr; latest fundamentals Mar 2026
- Energy Recovery, Inc. (ERII) — market value ₹470 Cr; latest fundamentals Mar 2026
- CleanCore Solutions, Inc. (ZONE) — market value ₹71 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Sep 2026; prices through 2026-08-04.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the Pollution & Treatment Controls sector outperforming S&P 500?

Pollution & Treatment Controls has underperformed S&P 500 by 16.3% over 52 weeks and 8.6% over 13 weeks. 2 of 7 covered companies beat the S&P 500 on Mansfield relative strength, while 1 of 7 beat the sector itself.

### Which Pollution & Treatment Controls company is largest by revenue?

CECO Environmental Corp. leads with revenue of $804 million, based on 4 of 7 comparable companies through Mar 2026.

### Which Pollution & Treatment Controls company is growing fastest?

CleanCore Solutions, Inc. has the fastest current revenue growth at 100%, across 3 of 7 comparable companies.

### Which Pollution & Treatment Controls company has the strongest 4-Factor Sector Score?

Zurn Elkay Water Solutions Corporation ranks first at 57.6/100 with 52.5% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Pollution & Treatment Controls company has the lowest comparable PEG?

Energy Recovery, Inc. has the lowest comparable PEG at 1.82, among 1 of 7 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Pollution & Treatment Controls comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Sep 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

### Which Pollution & Treatment Controls company is the biggest?

CECO Environmental Corp. is the largest, with trailing-twelve-month revenue of $804 million, ahead of Energy Recovery, Inc. at $137 million. That covers 4 of 7 companies with comparable reporting through Mar 2026.

### Which Pollution & Treatment Controls company has the best profit margins?

Veralto Corporation has the highest operating margin at 23.8%, from 4 of 7 comparable companies. Aduro Clean Technologies Inc. shows the biggest recent improvement, at +3610.8 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Pollution & Treatment Controls company makes the most profit?

Energy Recovery, Inc. earns the most, at $21 million of trailing-twelve-month net profit, from 5 of 7 comparable companies. CECO Environmental Corp. has the fastest profit growth at -65.3%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Pollution & Treatment Controls company earns the highest return on capital?

Zurn Elkay Water Solutions Corporation leads on return on capital employed at 6.3%, across 7 of 7 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Pollution & Treatment Controls stock is the cheapest?

On PEG — where a LOWER number is cheaper — Energy Recovery, Inc. screens cheapest at 1.82×. Only 1 of 7 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the Pollution & Treatment Controls sector beating the market?

Pollution & Treatment Controls has underperformed S&P 500 by 16.3% over the last 52 weeks and 8.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 7 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Pollution & Treatment Controls stock has the strongest price momentum?

Aduro Clean Technologies Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Pollution & Treatment Controls company scores highest for research priority?

Zurn Elkay Water Solutions Corporation scores 57.6 out of 100 with 52.5% evidence confidence, from 21.4 points on growth and earnings, 17 on capital efficiency, 10 on valuation and 9.2 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Pollution & Treatment Controls companies does this comparison cover, and over what period?

It compares 7 listed companies over up to 20 reported quarters of fundamentals, ending Sep 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Pollution & Treatment Controls sector?

The 7 Pollution & Treatment Controls companies on this page carry $38,959 million of combined market value. Veralto Corporation is the largest at $23,514 million, about 60% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

### How is the Pollution & Treatment Controls sector performing?

2 of the 7 covered Pollution & Treatment Controls companies are beating S&P 500 on Mansfield relative strength. The sector itself is 16.3% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

### How many Pollution & Treatment Controls stocks are listed in the US?

This comparison covers 7 listed Pollution & Treatment Controls companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Sep 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.