Latest Ratios: P/E Ratio -11.1x · EV/EBITDA 13.3x · ROE -45.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.9B | $1.4B | $617M | $718M | $500M | $1.3B | $1.4B | $1.8B | $1.7B | $1.5B | $1.1B |
| Enterprise Value | $3.6B | $3.1B | $2.1B | $2.1B | $1.9B | $2.7B | $2.7B | $2.6B | $2.2B | $2.0B | $1.7B |
| P/E Ratio → | -11.11 | — | — | — | — | — | — | — | 12.11 | 186.50 | — |
| P/S Ratio | 0.85 | 0.65 | 0.26 | 0.30 | 0.23 | 0.73 | 0.93 | 1.52 | 0.96 | 0.93 | 0.75 |
| P/B Ratio | 6.31 | 4.89 | 1.37 | 1.25 | 0.80 | 1.67 | 1.99 | 2.32 | 5.30 | 6.98 | 7.94 |
| P/FCF | — | — | — | — | 37.93 | — | — | — | 27.74 | 19.12 | 12.08 |
| P/OCF | 18.84 | 14.26 | 7.90 | 6.28 | 3.32 | 18.58 | 26.37 | — | 8.65 | 8.49 | 6.84 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.41 | 0.90 | 0.90 | 0.88 | 1.48 | 1.78 | 2.16 | 1.28 | 1.26 | 1.16 |
| EV / EBITDA | 13.34 | 11.63 | 9.95 | 8.47 | 29.80 | 10.73 | 17.76 | 12.28 | 6.96 | 7.43 | 8.20 |
| EV / EBIT | 41.57 | 36.23 | 199.54 | 39.14 | — | 27.16 | 43.27 | 30.52 | 16.28 | 19.39 | 21.94 |
| EV / FCF | — | — | — | — | 142.32 | — | — | — | 36.73 | 25.79 | 18.57 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.1% | 21.1% | 18.8% | 19.0% | 15.8% | 19.4% | 19.0% | 22.8% | 25.2% | 24.0% | 19.3% |
| Operating Margin | 3.9% | 3.9% | 1.4% | 3.4% | -4.7% | 4.8% | -0.2% | 6.3% | 11.1% | 8.9% | 4.4% |
| Net Profit Margin | -7.5% | -7.5% | -5.5% | -3.6% | -8.4% | -0.2% | -1.7% | 41.8% | 8.0% | 0.5% | -5.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -45.0% | -45.0% | -25.0% | -14.4% | -25.2% | -0.4% | -3.5% | 91.4% | 51.9% | 4.4% | -38.2% |
| ROA | -6.3% | -6.3% | -4.6% | -3.1% | -6.2% | -0.1% | -1.0% | 25.2% | 8.5% | 0.5% | -4.7% |
| ROIC | 3.3% | 3.3% | 1.2% | 3.0% | -3.6% | 3.1% | -0.1% | 4.7% | 18.0% | 14.6% | 5.1% |
| ROCE | 4.2% | 4.2% | 1.5% | 3.6% | -4.3% | 3.6% | -0.2% | 4.9% | 16.5% | 12.6% | 4.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 6.11 | 6.11 | 3.51 | 2.67 | 2.34 | 1.83 | 1.94 | 1.05 | 1.92 | 2.73 | 4.79 |
| Debt / EBITDA | 6.67 | 6.67 | 7.45 | 6.11 | 23.15 | 5.79 | 9.01 | 3.92 | 1.91 | 2.15 | 3.22 |
| Net Debt / Equity | — | 5.76 | 3.31 | 2.45 | 2.21 | 1.73 | 1.83 | 0.98 | 1.72 | 2.44 | 4.27 |
| Net Debt / EBITDA | 6.29 | 6.29 | 7.03 | 5.62 | 21.86 | 5.47 | 8.51 | 3.65 | 1.70 | 1.92 | 2.86 |
| Debt / FCF | — | — | — | — | 104.39 | — | — | — | 8.99 | 6.68 | 6.49 |
| Interest Coverage | 0.71 | 0.71 | 0.08 | 0.45 | -1.25 | 1.59 | 1.15 | 2.38 | 5.96 | 3.59 | 1.48 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.14 | 1.14 | 1.25 | 1.26 | 1.29 | 1.45 | 1.52 | 1.40 | 1.45 | 1.25 | 1.35 |
| Quick Ratio | 0.85 | 0.85 | 0.93 | 0.97 | 1.15 | 1.34 | 1.40 | 1.07 | 1.13 | 0.87 | 0.91 |
| Cash Ratio | 0.16 | 0.16 | 0.16 | 0.19 | 0.14 | 0.14 | 0.14 | 0.12 | 0.15 | 0.13 | 0.17 |
| Asset Turnover | — | 0.83 | 0.88 | 0.83 | 0.76 | 0.61 | 0.51 | 0.51 | 1.05 | 1.02 | 0.92 |
| Inventory Turnover | 9.80 | 9.80 | 10.45 | 10.12 | 22.07 | 21.14 | 20.37 | 5.92 | 9.68 | 6.85 | 6.24 |
| Days Sales Outstanding | — | 55.57 | 56.25 | 68.44 | 49.57 | 81.15 | 91.97 | 109.84 | 54.79 | 70.01 | 64.79 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | 0.4% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | 8.3% | 0.5% | — |
| FCF Yield | — | — | — | — | 2.6% | — | — | — | 3.6% | 5.2% | 8.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% | 1.7% | 1.8% | 0.1% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% | 1.7% | 1.8% | 0.1% | 0.4% |
| Shares Outstanding | — | $81M | $80M | $80M | $79M | $80M | $79M | $80M | $84M | $81M | $80M |
High Financial Leverage Constraints
According to current market data, Enviri trades at an EV/EBITDA multiple of 13.02, which, when paired with a negative P/E ratio, suggests that investors are pricing the company as a distressed industrial turnaround rather than a stable, growth-oriented environmental services provider within the broader industrial sector.
The absence of a meaningful forward P/E ratio highlights the market's skepticism regarding the company's ability to achieve consistent profitability in the near term. This valuation profile appears to discount the scarcity value of its permitted waste facilities, favoring instead a focus on the significant debt-servicing burden that currently overshadows potential operational upside.
Based on reported financial statements, Enviri's ROIC has struggled to maintain positive territory, oscillating between -3.5% and 1.4% over the last ten quarters, which indicates that the company is failing to generate returns that exceed its cost of capital in its current configuration.
The inability to consistently compound returns on invested capital suggests that the capital-intensive nature of the Harsco Environmental segment is not being adequately offset by the higher-margin potential of the Clean Earth business. This trend warrants further investigation into whether the current asset base is fundamentally over-capitalized relative to its actual revenue-generating capacity.
As indicated by quarterly filings, the company's cash conversion cycle has fluctuated between 41 and 58 days, reflecting a persistent inability to optimize working capital efficiency despite the company's strategic pivot toward specialized environmental services and away from its legacy industrial conglomerate structure.
The stability of the asset turnover ratio at approximately 0.20 suggests that the company's revenue generation is structurally tethered to its heavy machinery footprint, limiting the potential for rapid efficiency gains. Investors should monitor whether the recent increase in the cash conversion cycle to 43 days in 2026Q1 signals a potential slowdown in collections or an accumulation of inventory.
According to recent balance sheet data, Enviri's debt-to-equity ratio has surged to 6.28, a significant escalation from 2.67 in 2023Q4, which indicates that the company's financial foundation is becoming increasingly fragile as it attempts to navigate a high-interest-rate environment with limited equity support.
The interest coverage ratio, which dipped to 0.06 in 2026Q1, suggests that the company is operating with virtually no margin for error regarding its debt service obligations. This leverage profile appears to be the primary driver of the company's risk premium, as any further contraction in operating income could trigger covenant breaches or necessitate dilutive financing.
Based on an analysis of peer benchmarks, the most commonly misapplied metric for Enviri is the P/E ratio, which obscures the company's true earning power by failing to account for the non-cash charges and high interest expenses inherent in its current, highly levered industrial service model.
Analysts often compare Enviri to stable waste utilities like Waste Management, but this ignores the fact that Enviri's revenue is tied to cyclical industrial production rather than recurring municipal waste volumes. A more appropriate metric would be EV/EBITDA, adjusted for the specific capital intensity of the environmental remediation segment, to better capture the underlying cash-generating potential of the business.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying NVRI stock.
Enviri Corporation's current P/E ratio is -11.1x. The historical average is 33.1x.
Enviri Corporation's current EV/EBITDA is 13.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.0x.
Enviri Corporation's return on equity (ROE) is -45.0%. The historical average is 5.6%.
Based on historical data, Enviri Corporation is trading at a P/E of -11.1x. Compare with industry peers and growth rates for a complete picture.
Enviri Corporation has 21.1% gross margin and 3.9% operating margin.
Enviri Corporation's Debt/EBITDA ratio is 6.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.