Enviri Corporation — Earnings Quality Grade F
NVRI · Industrials
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 44 days, change +3 days YoY
AR growth 2.0% vs revenue growth -4.4%
Revenue -4.4%, CFFO 29.9%. Cash follows revenue
Expense Quality
Inventory -1.4% vs COGS -4.8%. Normal
CapEx growth 2.6% vs revenue -4.4%. Normal
SG&A/Gross Profit = 89.4%, exceeds 70%
Gross margin 19.1%, change +0.3pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.0B)
Accruals ratio = -9.9%. Low accruals
Cash $0.1B covers only 6% of debt $1.7B
Balance Sheet Health
Goodwill+Intangibles $1.0B = 405% of equity. Over 50%
Debt/EBITDA = 10.8x (>4x). Interest coverage = 0.4x (<2x). Financial stress
Other assets 3.5% vs revenue -4.4%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.98 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25