Enviri Corporation (NVRI)
NYSE:NVRI
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Enviri Corporation
(NYSE:NVRI)
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Rating:50Neutral
Price Target:
$19.00
▼(-2.01% Downside)
Action:Reiterated
Date:05/21/26
The score is held back primarily by weak financial performance—ongoing net losses, negative/volatile free cash flow, and very high leverage. Offsetting this somewhat are a neutral technical setup and a more constructive earnings-call backdrop (guidance maintained, Environmental strength, and the pending transaction), though Rail execution and cash risks remain meaningful. Valuation provides limited support due to the negative P/E and no dividend yield data.
Positive Factors
Harsco Environmental Strength
Sustained organic growth and above‑expectation EBITDA in the Environmental segment indicate a durable, higher‑margin core business. That steady cash‑earnings engine supports operational resilience, funds reinvestment in services, and provides a foundation for the spun‑off company to pursue margin expansion.
Negative Factors
Very High Leverage
Extremely elevated leverage materially constrains strategic optionality and increases vulnerability to adverse shocks. High debt amplifies refinancing and covenant risk, forces prioritization of cash to interest and principal, and limits the company's ability to fund capex, invest in growth, or absorb cyclical downturns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Harsco Environmental Strength
Sustained organic growth and above‑expectation EBITDA in the Environmental segment indicate a durable, higher‑margin core business. That steady cash‑earnings engine supports operational resilience, funds reinvestment in services, and provides a foundation for the spun‑off company to pursue margin expansion.
Read all positive factors
Enviri Corporation (NVRI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$618.56M
Dividend YieldN/A
Average Volume (3M)2.29M
Price to Earnings (P/E)―
Beta (1Y)-0.55
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees12,000
SectorIndustrials
Sector Strength72
IndustryWaste Management
Share Statistics
EPS (TTM)-0.38
Shares Outstanding28,103,750
10 Day Avg. Volume1,941,442
30 Day Avg. Volume2,291,680
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)-0.93
Price to Sales (P/S)0.45
P/FCF Ratio-4.92
Enterprise Value/Market Cap5.49
Enterprise Value/Revenue6.18
Enterprise Value/Gross Profit32.18
Enterprise Value/Ebitda129.34
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.2
Revenue Forecast (FY)N/A
Enviri Corporation Business Overview & Revenue Model
Company Description
Founded in 1853 and headquartered in Philadelphia, Pennsylvania, Enviri Corporation provides environmental solutions for industrial and specialized waste streams both domestically and abroad. The company, formerly known as Harsco Corporation until...
How the Company Makes Money
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Enviri Corporation Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call conveyed several meaningful positives: the Clean Earth sale and spin-off cleared major regulatory milestones with an expected cash payout, Harsco Environmental delivered solid organic growth (+6% revenue) and beat expectations on EBITDA, and management laid out a clear de-risking and restructuring plan for Rail including focus on higher‑margin aftermarket. Offsetting these positives are persistent Rail challenges—ongoing ETO contract risk, $18M of Rail cash consumption in Q1, an order book behind historical pacing, and a small negative free cash flow for the quarter (-$6M). Management maintained 2026 guidance and emphasized actions to improve margins and reduce risk. Overall, the operational and strategic positives (transaction completion, Harsco Environmental strength, clear remediation plans for Rail) outweigh the nearer-term cash and contract headwinds, though Rail remains a key risk to execution.Positive Updates
Clean Earth Sale and Spin-off Approved
Shareholders approved the Clean Earth sale and the Form 10 for the new Enviri spin-off was declared effective. Expect closing in approximately three weeks (around June 1). Company expects a cash conversion range of $14.50 to $16.50 per share and will announce the cash payout to shareholders shortly prior to closing.
Negative Updates
Rail Cash Consumption and ETO Contract Risk
Rail consumed negative cash of $18 million in Q1, largely attributable to ETO contracts. Equipment demand remains weak, order book is behind historical pacing (OEM equipment in North America), and Rail has a full-year EBITDA loss guidance of ($19M)–($26M). Significant focus is required to de-risk contracts with Deutsche Bahn and Network Rail; volatility and downside risk remain material.
Read all updates
Q1-2026 Updates
Positive
Negative
Clean Earth Sale and Spin-off Approved
Shareholders approved the Clean Earth sale and the Form 10 for the new Enviri spin-off was declared effective. Expect closing in approximately three weeks (around June 1). Company expects a cash conversion range of $14.50 to $16.50 per share and will announce the cash payout to shareholders shortly prior to closing.
Read all positive updates
Company Guidance
Management left 2026 guidance unchanged: Harsco Environmental adjusted EBITDA is expected to be $170–$180 million and Rail an EBITDA loss of $19–$26 million (midpoints imply pro forma new Enviri EBITDA of ~ $140 million), with management expecting modest free cash flow for the year; Q2 guidance calls for Environmental performance comparable to 2025 and a decrease in Rail EBITDA due to lower volumes. Relevant Q1 metrics included total revenue of $550 million, adjusted EBITDA of $65 million, adjusted diluted EPS of $0.10, adjusted free cash flow of -$6 million, Harsco Environmental revenue of $257 million (+6%) and adjusted EBITDA of $38 million, Rail revenue of $67 million and an adjusted EBITDA loss of $1 million (Rail cash consumption of $18 million), and the Clean Earth sale/spin is expected to close ~June 1 with a cash conversion range of $14.50–$16.50 per share.Enviri Corporation Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
18
Very Negative
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 549.80M | 1.27B | 1.40B |
| Gross Profit | 105.58M | 164.91M | 187.83M |
| EBITDA | 26.27M | 34.92M | 70.15M |
| Net Income | -10.66M | -228.11M | -194.90M |
Balance Sheet | |||
| Total Assets | 1.66B | 1.67B | 1.64B |
| Cash, Cash Equivalents and Short-Term Investments | 105.62M | 103.49M | 88.09M |
| Total Debt | 1.75B | 1.72B | 1.60B |
| Total Liabilities | 2.27B | 2.24B | 2.08B |
| Stockholders Equity | -658.29M | -608.89M | -476.23M |
Cash Flow | |||
| Free Cash Flow | -32.69M | -114.60M | -149.18M |
| Operating Cash Flow | -13.39M | -22.78M | -44.59M |
| Investing Cash Flow | -16.18M | -101.09M | -1.87M |
| Financing Cash Flow | 28.60M | 155.80M | 26.95M |
Enviri Corporation Technical Analysis
Positive
19.39
Price Trends
Market Momentum
0.39
Negative
63.24
Neutral
70.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVRI, the sentiment is Positive. The current price of 19.39 is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of 0.39 indicates Negative momentum. The RSI at 63.24 is Neutral, neither overbought nor oversold. The STOCH value of 70.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NVRI.
Enviri Corporation Risk Analysis
Enviri Corporation disclosed 35 risk factors in its most recent earnings report. Enviri Corporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Enviri Corporation Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $63.05B | 29.21 | 18.12% | 1.11% | 3.19% | 5.11% | |
69 Neutral | $15.25B | 38.54 | 14.37% | ― | 1.90% | 2.13% | |
67 Neutral | $86.18B | 30.97 | 28.85% | 1.50% | 10.87% | 4.11% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | $5.53B | 773.88 | 0.46% | ― | 14.92% | -48.77% | |
50 Neutral | $618.56M | -31.45 | 2.99% | ― | ― | ― | |
42 Neutral | $233.24M | -11.52 | -34.48% | ― | -0.91% | 23.41% |
* Industrials Sector Average
NVRI
Enviri Corporation
22.01
5.84
36.12%
CWST
Casella Waste
86.98
-30.85
-26.18%
CLH
Clean Harbors
288.60
58.60
25.48%
PESI
Perma-Fix
11.00
0.86
8.48%
RSG
Republic Services
204.94
-43.02
-17.35%
WM
Waste Management
214.60
-16.41
-7.10%
Enviri Corporation Corporate Events
Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsShareholder Meetings
Enviri to Sell Clean Earth, Spin Off New Enviri
Positive
May 20, 2026
On May 20, 2026, Enviri Corporation detailed plans to sell its Clean Earth segment to Veolia Environnement and to spin off its Harsco Environmental and Rail segments into a separate, publicly traded entity called Enviri II Corporation, or New Envi...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Enviri Shareholders Approve Clean Earth Sale to Veolia
Positive
May 4, 2026
On May 4, 2026, Enviri shareholders overwhelmingly approved the $3.04 billion cash sale of its Clean Earth division to Veolia Environnement, with about 99.54% of votes cast in favor, while a separate advisory vote on merger-related executive compe...
Business Operations and StrategyLegal ProceedingsM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Enviri Issues Supplemental Disclosures on Clean Earth Transaction
Neutral
Apr 27, 2026
On November 20, 2025, Enviri agreed to sell its Clean Earth Business to France’s Veolia Environnement and pursue a spin-off of New Enviri, and it has since been preparing for a May 4, 2026 virtual special shareholders’ meeting to appro...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.