Enviri (NVRI)

Market Price (11/11/2026): $25.25 | Market Cap: $711.9 MilSector: Industrials | Industry: Environmental & Facilities Services

Enviri (NVRI)

Market Price (11/11/2026): $25.25
Market Cap: $711.9 Mil
Sector: Industrials
Industry: Environmental & Facilities Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Megatrend and thematic drivers
Megatrends include Sustainable Infrastructure, Circular Economy & Recycling, and Sustainable Resource Management. Themes include Waste Management Solutions, Show more.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -243 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -18%

Stock price has recently run up significantly
6M Rtn6 month market price return is 363%, 12M Rtn12 month market price return is 619%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -33%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -83%

High stock price volatility
Vol 12M is 214%

Key risks
NVRI key risks include [1] significant operational losses in its Rail segment stemming from disastrous long-term fixed-price contracts and [2] a distressed financial profile characterized by high leverage and poor liquidity metrics.

0	Megatrend and thematic drivers Megatrends include Sustainable Infrastructure, Circular Economy & Recycling, and Sustainable Resource Management. Themes include Waste Management Solutions, Show more.
1	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is 0.0%
2	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
3	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -243 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -18%
4	Stock price has recently run up significantly 6M Rtn6 month market price return is 363%, 12M Rtn12 month market price return is 619%
5	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -33%
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -83%
7	High stock price volatility Vol 12M is 214%
8	Key risks NVRI key risks include [1] significant operational losses in its Rail segment stemming from disastrous long-term fixed-price contracts and [2] a distressed financial profile characterized by high leverage and poor liquidity metrics.

NVRI in ETFs

Weight = NVRI's share of each fund

VTI0.00%

ITOT0.00%

IWM0.02%

IWN0.04%

FNDA0.03%

AVUV0.02%

VTWO0.02%

SCHA0.02%

+4 more covered ETFs

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	11/11/26	2025	2024	2023
Share Price			$25.25	$17.92	$7.70	$9.00
Mkt Cap ($ Mil)			711.9	503.8	-	-
+ Debt ($ Mil)			424.3	1,723.1	0.0	0.0
- Cash ($ Mil)			226.3	103.5	0.0	0.0
TEV ($ Mil)			909.9	2,226.9
Valuation Ratios
P/S	0.4	0.4	0.5	0.3	-	-
P/EBIT	7.2	7.3	-2.7	-7.9	-	-
P/E	—	—	-1.3	-2.2	-	-
P/FCF	—	—	-1.6	-4.4	-	-
Sector Ratios (* = sector average)
P/S *			1.7	1.7	1.6	1.4
P/EBIT *			12.1	12.2	12.1	12.0
P/E *			17.2	16.9	17.7	16.2
P/FCF *			12.9	13.8	14.6	11.9

FYE: 12/31	Forward FYE		Now
	2027	2026	11/11/26
Share Price			$25.25
Mkt Cap ($ Mil)			711.9
+ Debt ($ Mil)			424.3
- Cash ($ Mil)			226.3
TEV ($ Mil)			909.9
Valuation Ratios
P/S	0.4	0.4	0.5
P/EBIT	7.2	7.3	-2.7
P/E	—	—	-1.3
P/FCF	—	—	-1.6
Sector Ratios (* = sector average)
P/S *			1.7
P/EBIT *			12.1
P/E *			17.2
P/FCF *			12.9

FYE: 12/31	NVRI [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$1.4 Bil	—
FY 2026 Sales	$1.8 Bil	—
FY 2027 Sales	$1.7 Bil	—
FY 2026 Sales Growth	32.6%	—
FY 2027 Sales Growth	-8.7%	8.6%
EARNINGS
LTM Net Income (GAAP) [3]	$-552.3 Mil	—
FY 2026 Net Income (Non-GAAP)	$-9.5 Mil	—
FY 2027 Net Income (Non-GAAP)	$-7.7 Mil	—
FY 2027 Net Income Growth	—	12.6%
FY 2026 EPS (Non-GAAP)	$-0.34	—
FY 2027 EPS (Non-GAAP)	$-0.27	—
FY 2027 EPS Growth	—	—
VALUATION
FY 2026 P/S	0.4	1.7
FY 2027 P/S	0.4	—
FY 2026 P/E	—	8.8
FY 2027 P/E	—	—

[1] NVRI forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 11/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	NVRI	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	1.4
Rev Chg Q	0.1%	8.8%
Rev Chg LTM	�	8.7%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.2
CFO LTM ($ Bil)	-0.4
Net Inc LTM ($ Bil)	-0.6
Op Mgn LTM	-17.7%	19.0%
CFO/Rev LTM	-26.8%	21.4%
Net Inc Mgn	-40.2%	13.5%
VALUATION	VERY LOW
P/S	0.5	3.2
P/CFO	-1.9	15.3
P/FCF	-1.6	20.5
P/E	-1.3	21.8
STABILITY	GOOD
Debt/Equity	0.60	0.19
Cash/Assets	0.13	0.07

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Metric	Value	Date	Source
Tons of waste recycled or reused	19 million	12312023	Link
Percentage of processed steel slag recycled or reused by Harsco Environmental	93%	12312023	Link
Tons of processed steel slag recycled or reused by Harsco Environmental	8.7 million	12312023	Link
Percentage of processed waste materials recycled or reused by Clean Earth	91%	12312023	Link
Tons of processed waste materials recycled or reused by Clean Earth	3.9 million	12312023	Link
Total Recordable Incident Rate (TRIR)	less than 1.0	12312023	Link
Number of employees	12,000	12312024	Link
Average employment tenure	7 years	12312024	Link
Women in senior management roles	29%	12312024	Link
Women on Board of Directors	25%	12312024	Link
Ethnic diversity representation on the Board of Directors	13%	12312024	Link
On-time pickup service rate for Clean Earth division	99%	7292025	Link
Number of Harsco Environmental mill services customers	70	2202025	Link
Number of Harsco Environmental sites	approximately 130	2202025	Link
Number of countries with Harsco Environmental operations	30	2202025	Link

Price Chart

Upcoming
2/04/2027	Earnings Release	Rev: $308 Mil (E) EPS: $-0.39 (E)

Why The Stock Moved

Qualitative Assessment

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Prices as of 11/10/2026

Nov 5: up 13.9% on its earnings report (S&P 500 down 4.4%)
The stock gained after Enviri Corporation reported third quarter 2026 results showing a 111% increase in net income and diluted EPS compared to a year earlier.

Up 647.5% since its Nov 7 low (S&P 500 up 12.7%)
The stock's substantial appreciation was driven by the announcement of a major asset sale and spin-off, along with strong financial results. This included a 28.2% surge on November 21, 2025, after the company announced the sale of Clean Earth, and a 208.7% rise on June 3, 2026 without company news, alongside its November 5, 2026 earnings reaction.

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Stock Movement Drivers

Fundamental Drivers

The 13.8% change in NVRI stock from 7/31/2026 to 11/10/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.

(LTM values as of)	7312026	11102026	Change
Stock Price ($)	22.18	25.25	13.8%
Change Contribution By:
Total Revenues ($ Mil)	�	�	0.0%
Net Income Margin (%)	�	�	0.0%
P/E Multiple	�	�	0.0%
Shares Outstanding (Mil)	28	28	0.0%
Cumulative Contribution			0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/10/2026

	Return	Correlation
NVRI	13.8%
Market (SPY)	0.4%	8.6%
Sector (XLI)	-6.2%	4.9%

Fundamental Drivers

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Market Drivers

4/30/2026 to 11/10/2026

	Return	Correlation
NVRI	362.8%
Market (SPY)	4.6%	-5.5%
Sector (XLI)	-3.1%	0.6%

Fundamental Drivers

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Market Drivers

10/31/2025 to 11/10/2026

	Return	Correlation
NVRI	646.3%
Market (SPY)	10.9%	-1.2%
Sector (XLI)	9.8%	2.6%

Fundamental Drivers

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Market Drivers

10/31/2023 to 11/10/2026

	Return	Correlation
NVRI	1487.5%
Market (SPY)	85.5%	14.5%
Sector (XLI)	78.4%	16.6%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
NVRI Return	-7%	-62%	43%	-14%	133%	408%	407%
Peers Return	11%	3%	7%	44%	3%	22%	121%
S&P 500 Return	27%	-19%	24%	23%	16%	10%	101%
Monthly Win Rates [3]
NVRI Win Rate	42%	33%	58%	42%	75%	82%
Peers Win Rate	58%	45%	50%	58%	52%	55%
S&P 500 Win Rate	75%	42%	67%	75%	67%	36%
Max Drawdowns [4]
NVRI Max Drawdown	-41%	-78%	-43%	-46%	-50%	-25%
Peers Max Drawdown	-30%	-24%	-26%	-18%	-37%	-26%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: CWST, GEO, FTEK, WM, RSG.
[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 11/10/2026 (YTD)

Event	NVRI	S&P 500
2025 US Tariff Shock
% Loss	-44.1%	-18.8%
% Gain to Breakeven	78.9%	23.1%
Time to Breakeven	79 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-38.0%	-9.5%
% Gain to Breakeven	61.2%	10.5%
Time to Breakeven	140 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-25.4%	-6.7%
% Gain to Breakeven	34.1%	7.1%
Time to Breakeven	41 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-77.8%	-24.5%
% Gain to Breakeven	351.3%	32.4%
Time to Breakeven	1148 days	427 days
2020 COVID-19 Crash
% Loss	-70.7%	-33.7%
% Gain to Breakeven	241.4%	50.9%
Time to Breakeven	133 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-32.9%	-19.2%
% Gain to Breakeven	49.1%	23.8%
Time to Breakeven	2718 days	105 days

Compare to CWST, GEO, FTEK, WM, RSG

In The Past

Enviri's stock fell -44.1% during the 2025 US Tariff Shock. Such a loss loss requires a 78.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	NVRI	S&P 500
2025 US Tariff Shock
% Loss	-44.1%	-18.8%
% Gain to Breakeven	78.9%	23.1%
Time to Breakeven	79 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-38.0%	-9.5%
% Gain to Breakeven	61.2%	10.5%
Time to Breakeven	140 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-25.4%	-6.7%
% Gain to Breakeven	34.1%	7.1%
Time to Breakeven	41 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-77.8%	-24.5%
% Gain to Breakeven	351.3%	32.4%
Time to Breakeven	1148 days	427 days
2020 COVID-19 Crash
% Loss	-70.7%	-33.7%
% Gain to Breakeven	241.4%	50.9%
Time to Breakeven	133 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-32.9%	-19.2%
% Gain to Breakeven	49.1%	23.8%
Time to Breakeven	2718 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-69.3%	-12.2%
% Gain to Breakeven	225.3%	13.9%
Time to Breakeven	254 days	62 days
2014-2016 Oil Price Collapse
% Loss	-76.2%	-6.8%
% Gain to Breakeven	319.5%	7.3%
Time to Breakeven	791 days	15 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-42.5%	-17.9%
% Gain to Breakeven	74.0%	21.8%
Time to Breakeven	2440 days	123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
% Loss	-33.0%	-15.4%
% Gain to Breakeven	49.2%	18.2%
Time to Breakeven	211 days	125 days
2008-2009 Global Financial Crisis
% Loss	-73.0%	-53.4%
% Gain to Breakeven	269.9%	114.4%
Time to Breakeven	6295 days	1085 days

Compare to CWST, GEO, FTEK, WM, RSG

In The Past

Enviri's stock fell -44.1% during the 2025 US Tariff Shock. Such a loss loss requires a 78.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Enviri (NVRI)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Enviri Corporation (NVRI) provides comprehensive environmental solutions, focusing on managing and valorizing industrial and specialty waste streams both domestically and internationally. The company operates through two primary segments: Harsco Environmental and Harsco Clean Earth, each addressing distinct aspects of waste management and resource recovery for various industries.

The Harsco Environmental segment primarily serves the iron, steel, and metals manufacturing industries. It offers on-site services under long-term contracts for material logistics, product quality improvement, and resource recovery from industrial byproducts. This segment also manufactures and sells industrial abrasives, roofing granules, and systems for processing aluminum dross and scrap, effectively transforming industrial waste-streams into valuable downstream products.

Complementing this, the Harsco Clean Earth segment specializes in processing, treating, recycling, and beneficially reusing a wide range of specialty wastes. This includes managing hazardous and non-hazardous materials, as well as contaminated soils and dredged materials. Clean Earth's services are crucial for industries requiring responsible and compliant solutions for complex waste streams, promoting landfill diversion and circular economy principles.

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Waste Management (WM) for industrial and specialty hazardous waste.
Stericycle (SRCL) for heavy industry's waste streams and byproducts.

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On-site Environmental Services: Provides material logistics, product quality improvement, and resource recovery services for iron, steel, and metals manufacturing facilities.
Specialty Waste Processing & Recycling: Offers treatment, recycling, and beneficial reuse solutions for hazardous, non-hazardous, and contaminated soils and dredged materials.
Industrial Abrasives: Manufactured materials used for various abrasive applications.
Roofing Granules: Components sold for use in the manufacturing of roofing materials.
Aluminum Dross: Processed aluminum waste stream material that is sold as a product.
Scrap Processing Systems: Equipment and technologies designed for processing different types of scrap materials.
Value-Added Downstream Products from Industrial Waste: Other useful materials created by transforming various industrial waste streams.

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Enviri (NVRI) primarily sells its services and products to other companies. Based on the provided background information, the specific names of Enviri's major customers are not disclosed. However, its customer base can be identified by the industries and types of entities it serves through its two segments:

Harsco Environmental: This segment serves companies in the iron, steel, and metals manufacturing industries. It provides on-site services for material logistics, product quality improvement, and resource recovery, as well as supplying industrial abrasives and roofing granules.
Harsco Clean Earth: This segment provides specialty waste processing, treatment, and recycling solutions. Its customers are typically companies and entities that generate hazardous, non-hazardous, and contaminated waste streams, including soils and dredged materials. This implies serving a broad range of industrial manufacturers, construction and remediation companies, and potentially governmental or municipal entities dealing with such waste.

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F. Nicholas Grasberger III Chairman and Chief Executive Officer

Mr. Grasberger was appointed Chief Executive Officer in August 2014 and named Chairman in May 2015. He originally joined Harsco (now Enviri) in 2010 as Chief Financial Officer.

Tom G. Vadaketh Senior Vice President and Chief Financial Officer

Mr. Vadaketh is the current Chief Financial Officer. He is slated to retire following the completion of Enviri's Clean Earth sale and the spin-off of "New Enviri," both anticipated by mid-2026.

Russell C. Hochman President and Chief Operating Officer

Mr. Hochman serves as President and Chief Operating Officer and is designated to become the Chief Executive Officer of "New Enviri" following the company's planned spin-off.

Christophe Reitemeier Senior Vice President and President, Harsco Environmental

Mr. Reitemeier was appointed to this role effective January 1, 2025. He has been with the company since 1999, having previously served as Vice President and Chief Financial Officer of Harsco Environmental since 2020.

Gary Lada President, Harsco Rail

Mr. Lada assumed the role of President of Harsco Rail effective May 5, 2025. He brings extensive experience from the rail industry, including his tenure at GE Transportation (now Wabtec), and is an Enviri Executive Leadership team member.

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The key risks to Enviri's business are as follows:

Dependence on Industrial Production and Economic Cycles: Enviri's Harsco Environmental segment primarily serves the iron, steel, and metals manufacturing industries through long-term contracts for on-site services. A significant downturn in these industrial sectors or broader economic slowdowns could lead to reduced demand for their services and products. Similarly, the Harsco Clean Earth segment, dealing with specialty waste, contaminated soils, and dredged materials, is also susceptible to economic cycles affecting industrial output and construction activity.
Environmental Regulatory and Compliance Risks, including Liabilities: As a provider of environmental solutions and waste management services, Enviri operates in a highly regulated environment. Changes in environmental laws and regulations, particularly regarding hazardous waste, emissions, or land use, could increase compliance costs, require significant capital expenditures, or limit their operational scope. Furthermore, handling hazardous and contaminated materials, especially within the Harsco Clean Earth segment, inherently carries significant environmental liability risks, including potential fines, remediation costs, and legal actions.
Market Demand and Pricing for Recycled and Recovered Materials: The Harsco Environmental segment produces and sells industrial abrasives, roofing granules, aluminum dross, and value-added downstream products from industrial waste-streams. The profitability of these activities is directly tied to the market demand and pricing for these recycled and recovered materials. Fluctuations in commodity prices, shifts in demand for recycled content, or increased competition from virgin materials could negatively impact the revenue and margins derived from these product lines.

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Enviri Corporation (NVRI) Addressable Market Sizes

Enviri Corporation (NVRI) provides environmental solutions through its Harsco Environmental and Harsco Clean Earth segments. The addressable markets for its main products and services are identified as follows:

Harsco Environmental Segment

Industrial Waste Management and Resource Recovery (Global): The global waste management market, which includes industrial waste, was valued at approximately USD 1.28 trillion in 2025 and is projected to reach around USD 2.44 trillion by 2035, growing at a compound annual growth rate (CAGR) of 6.66% from 2026 to 2035. The industrial segment holds a significant market share within the global waste management market, with industrial waste streams forecast to grow at an 8.3% CAGR through 2031.
Industrial Abrasives (Global): The global abrasives market size was valued at USD 72.98 billion in 2024 and is expected to reach USD 110.32 billion by 2032, exhibiting a CAGR of 5.30% during the forecast period.
Roofing Granules (Global): The global roofing granule market is projected to grow from USD 3.1 billion in 2024 to USD 3.9 billion by 2030, at a CAGR of 3.8% between 2025 and 2030.

Harsco Clean Earth Segment

Hazardous Waste Management (Global): The global hazardous waste management market size was valued at USD 18.94 billion in 2025. It is projected to grow from USD 20.05 billion in 2026 to USD 31.68 billion by 2034, at a CAGR of 5.88%.
Hazardous Waste Management (U.S.): The hazardous waste management market in the United States is expected to reach a projected revenue of USD 7,257.5 million by 2033, growing at a CAGR of 5.8% from 2026 to 2033.
Contaminated Soil Remediation (Global): The global soil remediation market size was estimated at USD 44.90 billion in 2024 and is expected to reach approximately USD 87.13 billion by 2034, growing at a CAGR of 6.89% from 2025 to 2034.
Contaminated Soil Remediation (U.S.): The U.S. soil remediation market size surpassed USD 8.3 billion in 2024 and is predicted to reach around USD 15.38 billion by 2034, registering a CAGR of 6.36% from 2025 to 2034.
Dredged Materials Management (Global): The global dredging market size is projected to be USD 19245.8 million in 2025 and is expected to boost sales to USD 26339.20 million by 2033, at a CAGR of 4.00% from 2025 to 2033.
Dredged Materials Management (U.S.): The U.S. dredging market is projected to be valued at USD 5,701.6 million in 2025, and is expected to reach USD 7,444.3 million in 2034, growing at a CAGR of 3.0%.

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Enviri Corporation (NVRI) is expected to drive future revenue growth over the next 2-3 years primarily through its Harsco Environmental segment, following the planned divestiture of its Clean Earth business. The key drivers of future revenue growth include: * New contract wins and expanded service levels within the Harsco Environmental segment. Enviri's Harsco Environmental segment has a track record of securing new contracts and increasing service levels globally. For instance, in 2023, the segment won 22 out of 23 contracts and secured five growth contracts, indicating a strong ability to attract and retain business. * Increased demand in the global steel industry, particularly in growing regions, benefiting Harsco Environmental. The Harsco Environmental segment is positioned to benefit from a modest increase in steel production at customer sites. Growth in steel production in regions such as India, the Middle East, and North America directly supports revenue expansion for Enviri's environmental solutions in these markets. * Ongoing operational improvements, efficiency initiatives, and a strategic focus on higher-margin contracts within Harsco Environmental. Enviri is implementing improvement actions at underperforming sites and is strategically exiting lower-margin contracts to concentrate on more profitable opportunities within its Harsco Environmental segment. These efforts are anticipated to enhance profitability and contribute to a more robust and sustainable revenue stream.

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Outbound Investments

Enviri has signed definitive agreements to sell its Clean Earth segment to Veolia for over $3.0 billion.
This divestiture is described as a strategic premium, representing a significant return on Enviri's historical investment in Clean Earth.
The sale of Clean Earth is part of a larger portfolio reshaping, which will also involve spinning off the Harsco Environmental and Harsco Rail businesses into a new standalone public company called "New Enviri".

Capital Expenditures

Enviri's capital expenditures were $158.3 million in 2021, $137.2 million in 2022, $139 million in 2023, and $136.6 million in 2024.
Projected capital expenditures for 2025 are between $130 million and $140 million, with a forecast of $141.3 million, and are primarily earmarked for Clean Earth to capitalize on growth opportunities.
Forecasted capital expenditures are $118.8 million for 2026 and $121.8 million for 2027.

Interactive Breakdown

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Better Bets vs. Enviri (NVRI)

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Peer Outperformance in Environmental & Facilities Services

NVRI has outperformed 100% of its 28 Environmental & Facilities Services peers over 5Y. Environmental & Facilities Services ranks 17th of 23 industries in Industrials by median 5Y return. The sector’s gains have largely come from elsewhere.

Share of Environmental & Facilities Services constituents that NVRI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.

100%

of 32 industry peers · 619.2% return

100%

of 30 industry peers · 1463.0% return

100%

of 28 industry peers · 503.8% return

No Environmental & Facilities Services peer with a comparable growth profile has beaten NVRI by more than 20pp over 5Y.

Median price return by industry across the Industrials sector, ranked by 5Y. Environmental & Facilities Services is NVRI's own industry. Use this to see which corners of the sector have carried the returns.

Industry	Names	1Y med	3Y med	5Y med	Top 3 by 5Y
Construction & Engineering	28	-15.0%	99.1%	112.8%	FIX 1049% · STRL 915% · AGX 632%
Marine Transportation	5	27.7%	30.8%	110.4%	MATX 143% · KEX 114%
Construction Machinery & Heavy Transportation Equipment	14	12.9%	68.3%	100.2%	ALSN 273% · WAB 224% · CAT 207%
Aerospace & Defense	54	3.3%	60.2%	63.1%	ATI 959% · FTAI 919% · HWM 588%
Industrial Machinery & Supplies & Components	71	4.2%	53.3%	34.7%	CRS 852% · MLI 303% · SYM 276%
Rail Transportation	7	37.1%	73.5%	29.3%	CSX 54% · UNP 39% · NSC 29%
Trading Companies & Distributors	19	11.1%	36.8%	27.9%	DXPE 340% · URI 203% · AIT 200%
Diversified Support Services	34	14.3%	46.9%	21.6%	CXW 198% · OPLN 139% · CACI 128%
Building Products	34	-3.6%	10.7%	19.0%	MOD 792% · GFF 352% · TT 137%
Cargo Ground Transportation	16	35.3%	17.4%	6.7%	XPO 306% · R 270% · ARCB 29%
Office Services & Supplies	10	18.3%	24.5%	0.0%	PBI 151% · HNI 45% · MSA 21%
Industrial Conglomerates	17	17.6%	11.1%	-3.7%	CSW 105% · DD 80% · CSL 78%
Electrical Components & Equipment	39	-5.6%	61.1%	-5.6%	POWL 1500% · VRT 632% · BE 461%
Data Processing & Outsourced Services	6	-7.1%	3.2%	-11.9%	EXLS 65% · BR 18% · G -7%
Research & Consulting Services	13	0.4%	-13.7%	-23.7%	HURN 216% · FCN 38% · BAH 9%
Agricultural & Farm Machinery	16	13.3%	-2.4%	-25.1%	DE 108% · TTC 15% · AGCO 7%
Environmental & Facilities Services ←	29	-19.1%	30.5%	-26.3%	GEO 249% · CLH 169% · RSG 96%
Passenger Airlines	11	11.7%	83.0%	-27.8%	LTM 3364% · UAL 133% · DAL 119%
Security & Alarm Services	9	-44.1%	42.7%	-29.7%	BCO 89%
Air Freight & Logistics	12	-30.0%	-5.6%	-39.4%	FDX 77% · EXPD 60% · CHRW 56%
Human Resource & Employment Services	22	24.1%	-13.6%	-39.8%	ADP 49% · FA 17% · PAYX 11%
Passenger Ground Transportation	3	-25.6%	35.8%	-48.6%	UBER 61% · CAR -49% · LYFT -69%
Airport Services	4	-39.0%	-57.3%	-82.7%	JOBY -36%

Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Enviri Earnings Notes	12/16/2025
2	Is Enviri Stock Built to Withstand a Pullback?	10/17/2025
3	Day 7 of Gains Streak for Enviri Stock with 17% Return (vs. 48% YTD) [8/26/2025]	08/27/2025
4	Day 6 of Gains Streak for Enviri Stock with 15% Return (vs. 46% YTD) [8/25/2025]	08/26/2025
5	Day 5 of Gains Streak for Enviri Stock with 14% Return (vs. 44% YTD) [8/22/2025]	08/23/2025
6	Enviri (NVRI) Operating Cash Flow Comparison	08/08/2025
7	Enviri (NVRI) Net Income Comparison	08/08/2025
8	Enviri (NVRI) Debt Comparison	08/08/2025
9	Enviri (NVRI) EBITDA Comparison	08/08/2025
10	Enviri (NVRI) Revenue Comparison	08/08/2025
11	ARTICLES
12	NVRI Stock Up 17% after 7-Day Win Streak	08/26/2025
13	NVRI Stock Up 15% after 6-Day Win Streak	08/25/2025
14	NVRI Stock Up 14% after 5-Day Win Streak	08/22/2025

	Title
0	DASHBOARDS
1	Enviri Earnings Notes
2	Is Enviri Stock Built to Withstand a Pullback?
3	Day 7 of Gains Streak for Enviri Stock with 17% Return (vs. 48% YTD) [8/26/2025]
4	Day 6 of Gains Streak for Enviri Stock with 15% Return (vs. 46% YTD) [8/25/2025]
5	Day 5 of Gains Streak for Enviri Stock with 14% Return (vs. 44% YTD) [8/22/2025]
6	Enviri (NVRI) Operating Cash Flow Comparison
7	Enviri (NVRI) Net Income Comparison
8	Enviri (NVRI) Debt Comparison
9	Enviri (NVRI) EBITDA Comparison
10	Enviri (NVRI) Revenue Comparison
11	ARTICLES
12	NVRI Stock Up 17% after 7-Day Win Streak
13	NVRI Stock Up 15% after 6-Day Win Streak
14	NVRI Stock Up 14% after 5-Day Win Streak

Trade Ideas

Select ideas related to NVRI.

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Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AMRC	Ameresco	1.5	23.0%	-5.7%
AAON	AAON	6.2	19.3%	-1.3%
BW	Babcock & Wilcox Enterprises	0.6	18.2%	-29.3%
CSQR	Csquare	2.7	14.7%	-15.2%
ACAD	Acadia Pharmaceuticals	3.1	10.8%	-31.6%
CHTR	Charter Communications	16.1	10.6%	-35.8%
MARA	MARA	2.8	10.5%	-18.3%
HROW	Harrow	1.1	10.5%	-38.0%
CBL	CBL & Associates Properties	1.6	9.4%	47.8%
LUMN	Lumen Technologies	4.7	9.0%	-39.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
EMAT	Evolution Metals & Technologies	0.8	-44.0%	-94.3%
APPS	Digital Turbine	0.9	-35.8%	45.0%
GRPN	Groupon	0.5	-23.0%	-29.0%
PAYS	PaySign	0.6	-18.9%	96.9%
JBI	Janus International	0.5	-17.9%	-40.2%
HIMS	Hims & Hers Health	4.4	-16.6%	-41.1%
WGS	GeneDx	1.6	-16.6%	-57.8%
MUX	McEwen	0.8	-16.5%	-26.8%
EQPT	EquipmentShare.com	3.4	-16.5%	-58.4%
BTGO	BitGo	0.5	-16.3%	-76.9%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
APP	AppLovin	132.8	61.1%	-41.3%
ARDT	Ardent Health	2.5	53.1%	103.1%
XERS	Xeris Biopharma	2.7	52.9%	101.7%
ONT	Onterris	0.8	50.8%	-4.7%
CRCT	Cricut	1.8	45.2%	82.9%
VCEL	Vericel	3.0	43.7%	63.9%
DCTH	Delcath Systems	0.7	39.6%	99.0%
FLY	Firefly Aerospace	3.8	39.3%	5.9%
IRWD	Ironwood Pharmaceuticals	0.8	37.4%	42.7%
AEVA	Aeva Technologies	0.8	37.2%	-7.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
VCYT	Veracyte	1.9	-52.2%	-42.9%
MNTN	MNTN	0.4	-49.6%	-59.0%
PRAA	PRA	0.5	-39.8%	-32.4%
NRIX	Nurix Therapeutics	1.8	-38.5%	-16.3%
AESI	Atlas Energy Solutions	0.7	-34.2%	-43.1%
SNDX	Syndax Pharmaceuticals	0.8	-33.6%	-54.8%
PAYS	PaySign	0.6	-33.0%	96.9%
JANX	Janux Therapeutics	0.8	-32.4%	-12.8%
IRTC	iRhythm	2.8	-31.9%	-51.5%
PCT	PureCycle Technologies	0.4	-31.7%	-75.2%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
SGRY	Surgery Partners	3.4	87.7%	73.0%
LQDA	Liquidia	4.6	85.8%	49.0%
GDYN	Grid Dynamics	1.1	79.3%	55.7%
ONT	Onterris	0.8	78.4%	-4.7%
REPL	Replimune	2.4	78.1%	139.5%
VRDN	Viridian Therapeutics	3.3	68.6%	-0.8%
ULH	Universal Logistics	0.8	67.0%	96.6%
UPBD	Upbound	1.4	60.1%	50.3%
BRZE	Braze	5.1	59.1%	34.8%
DGICB	Donegal	1.0	58.6%	60.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
AESI	Atlas Energy Solutions	0.7	-55.2%	-43.1%
FRMI	Fermi	1.0	-52.6%	-80.8%
AAOI	Applied Optoelectronics	3.9	-52.0%	38.6%
MNTN	MNTN	0.4	-50.5%	-59.0%
CIFR	Cipher Digital	2.7	-49.8%	-55.8%
DJT	Trump Media & Technology	1.2	-46.3%	-67.7%
VCYT	Veracyte	1.9	-45.3%	-42.9%
TH	Target Hospitality	1.0	-45.3%	28.6%
IOVA	Iovance Biotherapeutics	3.6	-44.5%	196.0%
PENG	Penguin Solutions	2.5	-43.6%	128.2%

Peer Comparisons

Peers to compare with:

Financials

	NVRI	CWST	GEO	FTEK	WM	RSG	Median
Name	Enviri	Casella .	GEO	Fuel Tech	Waste Ma.	Republic.
Mkt Price	25.25	92.95	31.85	1.38	237.19	247.62	62.40
Mkt Cap	0.7	5.9	4.1	0.0	94.6	75.8	5.0
Rev LTM	1,375	2,029	2,906	28	26,070	17,237	2,468
Op Inc LTM	-243	98	377	-5	4,842	3,468	238
FCF LTM	-458	80	217	-6	3,740	2,560	148
FCF 3Y Avg	-	71	146	-2	2,748	2,332	146
CFO LTM	-368	338	328	-5	6,565	4,500	333
CFO 3Y Avg	-	309	269	-1	5,894	4,217	309

Growth & Margins

	NVRI	CWST	GEO	FTEK	WM	RSG	Median
Name	Enviri	Casella .	GEO	Fuel Tech	Waste Ma.	Republic.
Rev Chg LTM	-	13.0%	14.8%	15.3%	5.2%	4.5%	13.0%
Rev Chg 3Y Avg	-	20.0%	6.4%	1.3%	9.1%	5.6%	6.4%
Rev Chg Q	0.1%	15.2%	11.5%	15.8%	6.3%	8.2%	9.9%
QoQ Delta Rev Chg LTM	0.0%	3.8%	2.8%	4.3%	1.6%	2.1%	2.4%
Op Inc Chg LTM	-	5.0%	35.1%	-16.9%	10.8%	4.2%	5.0%
Op Inc Chg 3Y Avg	-	-1.3%	2.3%	-35.6%	10.5%	9.6%	2.3%
Op Mgn LTM	-17.7%	4.8%	13.0%	-17.9%	18.6%	20.1%	8.9%
Op Mgn 3Y Avg	-	5.6%	12.5%	-16.2%	18.7%	19.9%	12.5%
QoQ Delta Op Mgn LTM	1.6%	0.0%	0.5%	-1.2%	0.1%	0.1%	0.1%
CFO/Rev LTM	-26.8%	16.7%	11.3%	-17.5%	25.2%	26.1%	14.0%
CFO/Rev 3Y Avg	-	17.5%	10.2%	-3.7%	24.5%	25.5%	17.5%
FCF/Rev LTM	-33.3%	3.9%	7.5%	-20.8%	14.3%	14.9%	5.7%
FCF/Rev 3Y Avg	-	4.0%	5.5%	-5.9%	11.3%	14.1%	5.5%

Valuation

	NVRI	CWST	GEO	FTEK	WM	RSG	Median
Name	Enviri	Casella .	GEO	Fuel Tech	Waste Ma.	Republic.
Mkt Cap	0.7	5.9	4.1	0.0	94.6	75.8	5.0
P/S	0.5	2.9	1.4	1.5	3.6	4.4	2.2
P/Op Inc	-2.9	60.4	11.0	-8.4	19.5	21.9	15.3
P/EBIT	-2.7	100.5	10.7	-8.4	19.7	23.4	15.2
P/E	-1.3	-523.5	24.8	-10.6	30.8	34.1	11.8
P/CFO	-1.9	17.5	12.6	-8.6	14.4	16.9	13.5
Total Yield	-77.6%	-0.2%	4.0%	-9.5%	4.8%	4.0%	1.9%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	1.6%	1.0%	0.0%
FCF Yield 3Y Avg	-	1.3%	5.8%	-5.0%	3.3%	3.5%	3.3%
D/E	0.6	0.2	0.4	0.0	0.2	0.2	0.2
Net D/E	0.3	0.2	0.3	-0.4	0.2	0.2	0.2

Returns

	NVRI	CWST	GEO	FTEK	WM	RSG	Median
Name	Enviri	Casella .	GEO	Fuel Tech	Waste Ma.	Republic.
1M Rtn	27.8%	10.9%	2.3%	-16.7%	13.6%	14.2%	12.3%
3M Rtn	25.4%	0.5%	0.3%	-1.8%	5.0%	15.5%	2.7%
6M Rtn	363.2%	9.5%	48.8%	-5.8%	9.9%	23.1%	16.5%
12M Rtn	619.2%	5.8%	112.6%	-33.6%	20.3%	22.8%	21.5%
3Y Rtn	1,463.0%	18.1%	241.0%	31.0%	44.6%	62.4%	53.5%
1M Excs Rtn	31.7%	12.4%	3.7%	-13.4%	15.6%	16.0%	14.0%
3M Excs Rtn	24.4%	5.2%	3.8%	-3.9%	7.8%	18.5%	6.5%
6M Excs Rtn	361.2%	7.5%	46.8%	-7.8%	7.9%	21.1%	14.5%
12M Excs Rtn	635.3%	-6.7%	98.3%	-47.1%	7.2%	9.7%	8.5%
3Y Excs Rtn	1,241.7%	-55.7%	179.3%	-37.4%	-25.5%	-6.3%	-15.9%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Clinical Pipeline

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Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023
Period End	9/30/2026	12/31/2025	12/31/2024	12/31/2023
Filing Date	11/5/2026	5/6/2026	5/6/2026	5/6/2026
Key Financials
Total Revenue	1,375	1,267	1,403	1,439
Gross Profit	44	165	188	220
EBITDA	-147	35	70	130
Operating Income	-243	-48	-2	42
Net Income	-552	-228	-195	-137
EPS	-19.77	-8.11	-6.93	-4.88
Growth Rates
Total Revenue Growth	-	-9.7%	-2.5%	-
EBITDA Growth	-	-50.2%	-46.1%	-
Operating Income Growth	-	-2791.0%	-103.9%	-
Net Income Growth	-	-17.0%	-42.0%	-
Margins
Gross Margin	3.2%	13.0%	13.4%	15.3%
EBITDA Margin	-10.7%	2.8%	5.0%	9.0%
Operating Income Margin	-17.7%	-3.8%	-0.1%	3.0%
Net Income Margin	-40.2%	-18.0%	-13.9%	-9.5%
Cash & Debt
Total Cash	226	103	88	�
Total Debt	424	1,723	1,603	0
Net Debt / (Cash)	198	1,620	1,515	�
Cash Flows & CapEx
Net Cash from Operations	-368	-23	-45	-14
Total CapEx	-90	-92	-105	-107
Free Cash from Operations	-458	-115	-149	-121
Returns to Shareholders
Dividends	0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0
Share Count
Basic Shares (Wtd Avg, Mil)		28.1	28.1	28.1
Diluted Shares (Wtd Avg, Mil)		28.1	28.1	28.1

$ Mil \| FY: 12/31	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1
Period End	9/30/2026	6/30/2026	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025
Filing Date	11/5/2026	8/11/2026	6/8/2026	5/6/2026	11/5/2026	8/11/2026	6/8/2026
Key Financials Quarterly
Total Revenue	325	187	550	313	325	316	548
Ebitda	51	-189	26	-35	34	24	50
Operating Income	20	-244	14	-32	-3	-24	34
Net Income	2	-396	-11	-148	-23	-48	-9
EPS	0.09	-14.21	-0.38	-5.27	-0.82	-1.70	-0.32
Key Financials TTM
Total Revenue TTM	1,375	1,375	1,503	1,501	-	-	-
Ebitda TTM	-147	-164	49	73	-	-	-
Operating Income TTM	-243	-266	-46	-26	-	-	-
Net Income TTM	-552	-578	-230	-228	-	-	-
Growth Rates Quarterly
Total Revenue Growth	0.1%	-40.7%	0.3%	-	-	-	-
EBITDA Growth	50.7%	-885.1%	-47.8%	-	-	-	-
Operating Income Growth	836.7%	-910.1%	-59.3%	-	-	-	-
Net Income Growth	110.6%	-728.2%	-18.3%	-	-	-	-
Margins Quarterly
EBITDA Margin	15.8%	-100.8%	4.8%	-11.3%	10.5%	7.6%	9.2%
Operating Income Margin	6.1%	-130.5%	2.5%	-10.3%	-0.8%	-7.7%	6.1%
Net Income Margin	0.8%	-211.4%	-1.9%	-47.4%	-7.1%	-15.1%	-1.6%
Cash & Debt
Total Cash	226	253	106	103	-	-	-
Total Debt	424	420	1,752	1,723	0	0	0
Net Debt / (Cash)	198	167	1,646	1,620	-	-	-
Cash Flows Quarterly
Net Cash from Operations	-7	-262	-13	-86	34	49	-21
Total CapEx	-21	-49	-19	0	-32	-46	-15
Free Cash from Operations	-28	-311	-33	-86	3	4	-36
Cash Flows TTM
Net Cash from Operations TTM	-368	-327	-15	-23	-	-	-
Total CapEx TTM	-90	-100	-97	-93	-93	-61	-15
Free Cash from Operations TTM	-458	-427	-112	-115	-	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	18.1%	-586.0%	0.9%	-8.0%	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-122.8%	-159.3%	-2.8%	-1.6%	-	-	-
Share Count
Basic Shares (Wtd Avg, Mil)	28.2	27.9	28.1	28.1	28.1	28.1	28.1
Diluted Shares (Wtd Avg, Mil)	28.6	27.9	28.1	28.1	28.1	28.1	28.1

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023
Harsco Environmental	1,019	1,112	1,142
Harsco Rail	247	291	297
Corporate	0	0	0
Total	1,267	1,403	1,439

Operating Income by Segment

$ Mil	2025	2024	2023
Harsco Environmental	21	18	62
Corporate	-12	6	1
Harsco Rail	-64	-55	-35
Total	-55	-30	28

Assets by Segment

$ Mil	2025	2024
Harsco Environmental	1,329	1,263
Harsco Rail	333	351
Corporate	8	24
Total	1,671	1,638

Price Behavior

Price Behavior

Market Price	$25.25
Market Cap ($ Bil)	0.7
First Trading Date	12/29/2006
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$20.59	$14.21
DMA Trend	down	up
Distance from DMA	22.7%	77.7%
	3M	1YR
Volatility	52.0%	213.9%
Downside Capture	77.26	-106.00
Upside Capture	190.25	139.61
Correlation (S&P 500)	2.9%	-1.4%

NVRI Betas & Captures as of 10/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	1.95	1.73	1.82	-1.12	-0.02	1.33
Up Beta	1.49	0.21	-0.23	0.01	1.08	1.67
Down Beta	2.91	2.63	2.40	-0.82	0.09	1.61
Up Capture	121%	108%	179%	125%	137%	443%
Bmk +ve Days	12	18	28	62	130	427
Stock +ve Days	10	20	30	63	128	391
Down Capture	184%	222%	250%	-361%	-182%	94%
Bmk -ve Days	10	25	36	64	121	325
Stock -ve Days	12	22	32	59	117	339

[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 NVRI
NVRI	143.0%	49.0%	1.97	-
Sector ETF (XLI)	11.0%	18.2%	0.42	13.9%
Equity (SPY)	12.7%	13.7%	0.62	17.3%
Gold (GLD)	0.3%	28.9%	0.00	16.8%
Commodities (DBC)	34.5%	21.3%	1.28	-14.6%
Real Estate (VNQ)	11.7%	14.2%	0.53	20.6%
Bitcoin (BTCUSD)	-27.7%	43.5%	-0.63	2.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with NVRI
NVRI	15.3%	55.6%	0.47	-
Sector ETF (XLI)	11.5%	17.8%	0.48	45.0%
Equity (SPY)	11.6%	17.3%	0.50	42.7%
Gold (GLD)	17.2%	19.1%	0.72	13.7%
Commodities (DBC)	7.4%	19.6%	0.26	11.8%
Real Estate (VNQ)	1.4%	18.9%	-0.04	38.9%
Bitcoin (BTCUSD)	3.4%	51.5%	0.25	17.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with NVRI
NVRI	11.7%	58.0%	0.43	-
Sector ETF (XLI)	13.3%	20.1%	0.58	52.9%
Equity (SPY)	15.2%	18.0%	0.71	47.9%
Gold (GLD)	11.7%	16.6%	0.58	5.8%
Commodities (DBC)	7.5%	18.1%	0.33	23.4%
Real Estate (VNQ)	5.9%	20.7%	0.24	39.4%
Bitcoin (BTCUSD)	59.5%	66.3%	0.99	15.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	10302026
Short Interest: Shares Quantity	3.1 Mil
Short Interest: % Change Since 10152026	2.2%
Average Daily Volume	0.3 Mil
Days-to-Cover Short Interest	9.2 days
Basic Shares Quantity	28.2 Mil
Short % of Basic Shares	11.2%

Returns Analyses

	Title
0	Is Enviri Stock Built to Withstand a Pullback?

Earnings Returns History

Updated 11/10/2026

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/5/2026	13.9%
8/11/2026	-7.9%	-4.4%	3.1%
SUMMARY STATS
# Positive	1	0	1
# Negative	1	1	0
Median Positive	13.9%		3.1%
Median Negative	-7.9%	-4.4%
Max Positive	13.9%		3.1%
Max Negative	-7.9%	-4.4%

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/5/2026	13.9%
8/11/2026	-7.9%	-4.4%	3.1%
SUMMARY STATS
# Positive	1	0	1
# Negative	1	1	0
Median Positive	13.9%		3.1%
Median Negative	-7.9%	-4.4%
Max Positive	13.9%		3.1%
Max Negative	-7.9%	-4.4%

SEC Filings

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Report Date	Filing Date	Filing
09/30/2026	11/05/2026	10-Q
06/30/2026	08/11/2026	10-Q
03/31/2026	06/08/2026	10-Q
12/31/2025	05/06/2026	10-12B/A

Recent Forward Guidance

Updated 11/6/2026

Latest: Q3 2026 Earnings Reported 11/5/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Harsco Rail Projected Operating Loss	Reported		-210.00 Mil		-13.9%		Raised	Guidance: -244.00 Mil for 2026
2026 Harsco Rail Operating Loss Adjusted	Reported		-14.00 Mil		-50.0%		Raised	Guidance: -28.00 Mil for 2026
2026 Harsco Environmental Adjusted Revenues	Reported		1.04 Bil		1.9%		Raised	Guidance: 1.02 Bil for 2026
2026 Harsco Rail Adjusted Revenues	Reported		231.00 Mil		1.8%		Raised	Guidance: 227.00 Mil for 2026
2026 Harsco Environmental Projected Operating Income	Reported		63.00 Mil		16.7%		Raised	Guidance: 54.00 Mil for 2026
2026 Harsco Environmental Operating Income Adjusted	Reported		71.00 Mil		20.3%		Raised	Guidance: 59.00 Mil for 2026
2026 Harsco Environmental Adjusted EBITDA	Reported	180.00 Mil	182.00 Mil	184.00 Mil	4.0%		Raised	Guidance: 175.00 Mil for 2026
2026 Harsco Rail Adjusted EBITDA	Reported	-10.00 Mil	-8.50 Mil	-7.00 Mil	-62.2%		Raised	Guidance: -22.50 Mil for 2026
2026 Harsco Environmental Adjusted EBITDA Margin	Reported		17.6%			0.4%	Raised	Guidance: 17.2% for 2026
2026 Harsco Rail Adjusted EBITDA Margin	Reported		-3.6%			6.3%	Raised	Guidance: -9.9% for 2026
2028 Internal Improvement Program Earnings Benefits	Reported		40.00 Mil
2027 GBM Additional Project Asset Proceeds	Reported		34.00 Mil	34.00 Mil

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Insider Activity

Updated 8/18/2026

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Haznedar, Carolann I		Direct	Buy	8182026	20.46	4,875	99,747	878,902	Form
2	Minan, Peter Francis	Executive Vice President & CFO	Direct	Buy	6082026	19.25	8,333	160,410	316,354	Form
3	Purvis, Edgar M JR		Direct	Buy	6042026	18.10	14,000	253,400	868,348	Form
4	Hochman, Russell C	President and CEO	Direct	Buy	6042026	19.43	51,519	1,001,014	2,807,829	Form
5	Kozak, Jennifer Ott	Senior Vice President & CHRO	Direct	Sell	12092025	18.18	9,692	176,198	148,728	Form

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Haznedar, Carolann I		Direct	Buy	8182026	20.46	4,875	99,747	878,902	Form
2	Minan, Peter Francis	Executive Vice President & CFO	Direct	Buy	6082026	19.25	8,333	160,410	316,354	Form
3	Purvis, Edgar M JR		Direct	Buy	6042026	18.10	14,000	253,400	868,348	Form
4	Hochman, Russell C	President and CEO	Direct	Buy	6042026	19.43	51,519	1,001,014	2,807,829	Form
5	Kozak, Jennifer Ott	Senior Vice President & CHRO	Direct	Sell	12092025	18.18	9,692	176,198	148,728	Form

Investor Activity (13F)

Updated Nov 11, 2026

13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Mason Capital Management LLC	$88.2 Mil	14.4%	7	New	13F
Newtyn Management, LLC	$108.0 Mil	11.5%	33	ADD +19.6%	13F
Scoggin Management LP	$9.8 Mil	3.9%	30	ADD +33.3%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Mason Capital Management LLC	$88.2 Mil	14.4%	7	New	13F
Scoggin Management LP	$9.8 Mil	3.9%	30	ADD +33.3%	13F
Newtyn Management, LLC	$108.0 Mil	11.5%	33	ADD +19.6%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Angelo Gordon & Co., L.P.	$63.1 Mil	6.0%	46	Exited	13F
Pertento Partners LLP	$27.4 Mil	3.0%	17	Exited	13F
HG Vora Capital Management, LLC	$22.4 Mil	8.5%	7	Exited	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Newtyn Management, LLC	$108.0 Mil	11.5%	33	ADD +19.6%	13F
Mason Capital Management LLC	$88.2 Mil	14.4%	7	New	13F
Scoggin Management LP	$9.8 Mil	3.9%	30	ADD +33.3%	13F

NVRI Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Status	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

Diversification Alternatives

How Is The Market Pricing NVRI?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What NVRI Makes & Who Pays

TTM figures based on

NVRI Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Enviri — Investor Video Playlist

Investor / Analyst

Enviri 2023 ESG Report

Enviri · 2024-07-25

Products & Services

Harsco Environmental- AgroSilício

Enviri · 2023-10-12

Industry Resources

Industrials Resources

IndustryWeek

Manufacturing.net

Aviation Week

Environmental & Facilities Services Resources

Waste360

Waste Dive

FacilitiesNet

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Core Cache Last Updated: 11/10/2026

Enviri (NVRI)

Market Price (11/11/2026): $25.25 | Market Cap: $711.9 MilSector: Industrials | Industry: Environmental & Facilities Services

Enviri (NVRI)

Market Price (11/11/2026): $25.25Market Cap: $711.9 MilSector: IndustrialsIndustry: Environmental & Facilities Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

NVRI in ETFs

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Price Chart

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About Enviri (NVRI)

Enviri Corporation (NVRI) Addressable Market Sizes

Harsco Environmental Segment

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Peer Outperformance in Environmental & Facilities Services

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Investor Activity (13F)

NVRI Trade Sentinel

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CONVICTION RATIONALE

STOCK ARCHETYPE

Market Price (11/11/2026): $25.25
Market Cap: $711.9 Mil
Sector: Industrials
Industry: Environmental & Facilities Services