Updated
The most significant concentration Enviri discloses is top five customers (Harsco Environmental segment) at 17%, classified LOW by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Enviri’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'For the year ended December 31, 2025, the Company's top five customers in HE accounted for approximately 37% of revenues in that Segment and 17% of the Company's consolidated revenues.'”
“10-K Item 1A: 'For the year ended December 31, 2025, the Company's top five customers in CE accounted for approximately 27% of the revenues in that Segment and 12% of the Company's consolidated revenues.'”
Enviri Corporation's disclosed concentration risk is customer-based and low in scale across both of its named segments. In Harsco Environmental, the top five customers accounted for approximately 37% of that segment's revenue but only 17% of the company's consolidated revenue. In Clean Earth, the top five customers made up approximately 27% of segment revenue and 12% of consolidated revenue. Both are dependency exposures — reliance on a handful of named-tier customers within each segment — rather than structural, industry-wide features. The segment-level percentages are meaningfully higher than the consolidated figures in both cases, which indicates that within each individual segment, customer concentration is more pronounced than it appears at the whole-company level; a loss of top-five customers in either segment would be felt acutely within that segment even though the consolidated impact is comparatively contained. Because both segments' consolidated shares are low, and the two concentrations sit in different segments rather than overlapping on the same customers, this profile reads as diversified at the company level — the segment-level customer dependencies are the detail worth watching, not a company-wide vulnerability.
For the engine’s reasoning on NVRI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ONT | Onterris, Inc. | 1 | 1 | 1 | 3 |
| CWST | Casella Waste Systems, Inc. | 0 | 1 | 0 | 1 |
| NVRI● | Enviri Corporation | 0 | 0 | 2 | 2 |
| CLH | Clean Harbors, Inc. | 0 | 0 | 0 | 0 |
| RSG | Republic Services, Inc. | 0 | 0 | 0 | 0 |
| WCN | Waste Connections, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.