NVRI (Enviri) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


NVRI Enviri Corp NVRI
8 GF Score
Price $21.60
! 3 Warning Signs
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What is Enviri Beneish M-Score?

Enviri NVRI -0.99% 8 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates NVRI with a GF Score™ of 8/100. The stock has 3 warning signs investors should review. Among 228 Waste Management companies, Enviri ranks worse than 438596.05% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Enviri's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Enviri was 0.00. The lowest was 0.00. And the median was 0.00.

Enviri Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Enviri's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Enviri Beneish M-Score Chart

Enviri Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

Enviri Semi-Annual Data
Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 0.00

NVRI vs : Beneish M-Score Comparison

For the Waste Management subindustry, Enviri's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Enviri Beneish M-Score vs Waste Management Industry

For the Waste Management industry and Industrials sector, Enviri's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Enviri's Beneish M-Score falls into.


NVRI
8GF Score
Enviri Corp NVRI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Enviri Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Enviri for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.043+0.528 * 1.0283+0.404 * 1.0031+0.892 * 0.9028+0.115 * 1.0354
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.099+4.679 * -0.10529-0.327 * 1.0659
=-3.04

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $335 Mil.
Revenue was $1,267 Mil.
Gross Profit was $165 Mil.
Total Current Assets was $696 Mil.
Total Assets was $1,671 Mil.
Property, Plant and Equipment(Net PPE) was $458 Mil.
Depreciation, Depletion and Amortization(DDA) was $121 Mil.
Selling, General, & Admin. Expense(SGA) was $180 Mil.
Total Current Liabilities was $456 Mil.
Long-Term Debt & Capital Lease Obligation was $1,686 Mil.
Net Income was $-228 Mil.
Gross Profit was $-29 Mil.
Cash Flow from Operations was $-23 Mil.
 Total Receivables was $356 Mil.
Revenue was $1,403 Mil.
Gross Profit was $188 Mil.
Total Current Assets was $687 Mil.
Total Assets was $1,638 Mil.
Property, Plant and Equipment(Net PPE) was $446 Mil.
Depreciation, Depletion and Amortization(DDA) was $123 Mil.
Selling, General, & Admin. Expense(SGA) was $182 Mil.
Total Current Liabilities was $399 Mil.
Long-Term Debt & Capital Lease Obligation was $1,572 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(335.055 / 1266.506) / (355.799 / 1402.8)
=0.264551 / 0.253635
=1.043

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(187.826 / 1402.8) / (164.91 / 1266.506)
=0.133894 / 0.130209
=1.0283

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (695.749 + 458.366) / 1670.647) / (1 - (686.959 + 446.492) / 1638.476)
=0.309181 / 0.308229
=1.0031

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=1266.506 / 1402.8
=0.9028

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(122.707 / (122.707 + 446.492)) / (120.535 / (120.535 + 458.366))
=0.215578 / 0.208213
=1.0354

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(180.219 / 1266.506) / (181.625 / 1402.8)
=0.142296 / 0.129473
=1.099

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((1685.558 + 456.451) / 1670.647) / ((1572.264 + 398.557) / 1638.476)
=1.282143 / 1.202838
=1.0659

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-228.111 - -29.432 - -22.777) / 1670.647
=-0.10529

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Enviri has a M-score of -3.04 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Enviri (NVRI) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Enviri and its competitors. According to the industry distribution chart, Enviri ranks #999999 out of 228 companies in the Waste Management industry.
Is Enviri's Beneish M-Score too high?
Enviri's current Beneish M-Score is 0.00. Based on the distribution chart, Enviri ranks #999999 out of 228 companies in the Waste Management industry, which is in the bottom quartile relative to peers. Overall, Enviri has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does Enviri's Beneish M-Score compare to ?
According to the Waste Management industry distribution chart, Enviri ranks #999999 out of 228 companies for Beneish M-Score. This places Enviri in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Waste Management company?
A good Beneish M-Score depends on the Waste Management industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Enviri and its competitors. Enviri's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Enviri stock overvalued right now?
Enviri (NVRI) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Enviri's overall GF Score™ is 8/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Enviri (NVRI), the current Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Enviri Business Description

Comparable Companies
Address 100-120 North 18th Street, Two Logan Square, 17th Floor, Philadelphia, PA, USA, 19103
Enviri Corp provides environmental and operational solutions to the metal and rail industries. It is based in Philadelphia, Pennsylvania, and operates in more than 30 countries. The company leverages over 170 years of industrial expertise to help customers improve operational performance, recover value from byproducts, enhance sustainability, and maintain critical infrastructure. Its divisions are Harsco Environmental and Harsco Rail, which combine deep operational capabilities with technologies and world-wide scale to deliver long-term value for customers, communities, and shareholders.
8GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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