Enviri Corp (NVRI) is overvalued and Waste Connections Inc (WCN) is overvalued.
Both trade above our estimate of their intrinsic value. WCN is the closer of the two: -48%, against -74% for NVRI.
Values as of the 19 Oct 2026 close.
Discounting its cash flows at 6.9% values the shares at $11.15; the price of $19.38 is 74% above that value, and 84% of that value comes from beyond year five.
Leak Score 15/100 on 8 of 12 signals
Discounting its cash flows at 7.6% (average of 3 methods) values the shares at $111.86; the price of $165.69 is 48% above that value, and 81% of that value comes from beyond year five.
Leak Score 38/100 on 12 of 12 signals
| Metric | NVRI | WCN |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $19.38 | $165.69 |
| Intrinsic value | $11.15 | $111.86 |
| Margin of safety | -74% | -48% |
| Leak Score | 15/100 (8/12) | 38/100 (12/12) |
| Market cap | $546M | $41.8B |
| Revenue growth, 5 years | — | 11.7% |
| Operating margin | -18.9% | 17.6% |
| Net margin | -29.5% | 10.9% |
| Return on equity | -81.2% | 13.0% |
| Debt to equity | 0.66 | 1.22 |
| P/E | — | 40.0x |
| Forward P/E | — | 26.7x |
| P/B | 0.8x | 5.3x |
| Dividend yield | — | 0.8% |