Clean Earth Makes Enviri Worth The Risk

Jun. 10, 2025 6:22 PM ETEnviri Corporation (NVRI) StockNVRI
Vince Martin
7.41K Followers
(13min)

Summary

  • Enviri has underperformed for years, as the steel business has flat-lined and the Rail segment entered a series of disastrous contracts.
  • But the failures there overshadow the high-quality Clean Earth asset, which likely covers at least half of the current enterprise value.
  • Multiple fundamental perspectives suggest a 100%-plus upside, and Clean Earth is a business worth owning.
  • Management and Rail remain risks but risks worth taking at this price.
Heap of steel slags and iron lumps from metallurgical industry ready for recycling.

Luca Piccini Basile/iStock via Getty Images

As a value play, Enviri (NYSE:NVRI) stock has it all — both good and bad. On the plus side, there are multiple ways to build fundamental upside on paper. The Clean Earth business — clearly the most valuable — can underpin a solid sum-of-the-parts case and, perhaps, an "investors get the

This article was written by

7.41K Followers
I've been contributing to Seeking Alpha and other investment websites since 2011, with a general (though far from rigid) focus on value over growth. I got my Series 7 and 63 back in 1999, and watched the dot-com bubble peak and then burst in real time at a small, tech-focused retail brokerage in NYC.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of NVRI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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