Clean Harbors, Inc

Hazardous Waste Management

CLHMixed7 of 10 basics passed

$316.93

-0.13%

Market cap $16.7B

$316.93

-0.13%

Market cap $16.7B

Clean Harbors Inc is an environmental and industrial services provider that provides parts cleaning and related environmental services to commercial, industrial, and automotive customers. Its business segments are Environmental Services and Safety-Kleen Sustainability Solutions.

It is a $16.7B utility company. Revenue grew 5.1% over the last year, it keeps 7¢ of every dollar of sales as profit, and its net debt equals ~5.7 years of free cash flow. It trades at 38.1× earnings — near the highest of its own history.

Website: cleanharbors.com
Location: Norwell, MA
Employees: 22 591
Sector: Utilities
Founded: 1980

Share price · 3 years

$165.31 → $316.93+91.7%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $6.24B
Profit: keeps 7¢ of every $1 sold; $439M
Free cash flow: cash left after running the business; $462M
Net debt: debt minus cash on hand; $2.64B
P/E: years of profit in the price; 38.1
EPS: earnings per share, TTM; $8.17
Shares: down 7% since 2016 — buybacks; 53.7M
Volatility: beta vs the market — under 1 swings less; 0.85

Revenue, last 10 years

52-week range

Low $201.73$316.93High $326.34

Today's price is 92% of the way from the year's low to its high.

P/E vs its history5y

38.1×median 29.0×

Higher than 92% of past days — near the highest of its own history.

Valuation vs own history

P/E

38.1×

P/S

2.7×

EV/EBITDA

26.3×

P/B

5.7×

FCF yield

2.8%

34%

Share of the last ~5 years that was pricier than today (unusually expensive vs its own history). Based on the daily valuation record.

Insider activity · 90 days

-$1.05Mnet selling

Purchases$0

Sales$1.05M

Insiders trading, last 14d0 buy · 0 sell

Standing in Utilities

Size$16.7Btop 86%
Revenue growth+5%top 30%
Net margin7%top 88%
Return on equity16%top 26%
P/E38.1×top 100%

Ranked against 44 Utilities companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong growth and quality; Valuation, Health and Moat lag behind.

Valuation37

P/E vs own history92th pct · 0/25
FCF yield2.8% · 5/25
P/S2.7x · 20/25
EV/EBITDA16.1x · 12/25

Growth85

Revenue CAGR12.2% · 20/25
Net income CAGR17.8% · 20/25
EPS CAGR ~5Y24.6% · 25/25
Fwd implied growth19.8% · 20/25

Profitability50

ROIC7.3% · 5/25
ROE15.6% · 20/25
Net margin7.0% · 13/25
Operating margin11.7% · 12/25

Health40

Altman Zn/a · 0/25
Current ratio2.13 · 25/25
Interest coverage4.7x · 10/25
Net cash / debtD/A 35% · 5/25

Quality100

Piotroski F8/9 · 25/25
Beneish M-2.70 · 25/25
FCF conversion105% · 25/25
Margin stabilityσ 3.6% · 25/25

Moat43

ROIC >12% years0/10 yrs · 0/25
Median gross margin30.9% · 13/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst -1.4% · 5/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2022Financial
Best year on record
$412M net income
FY2017Financial
Turned profitable
$101M net income after a loss year
FY2016Financial
Revenue already above $1B
$2.76B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak
1987IPO
The company became a public company via an initial public offering
1984Milestone
The company removed 130,000 gallons of fuel oil from the tanker Eldia
1980Founded
Clean Harbors was founded in 1980 in Brockton, Massachusetts, by Alan McKim as a four-person tank cleaning business

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$30 547 today — price return only

$6.0B revenue in FY2025

Revenue up 5.1% year over year

Profitable 9 years in a row

Positive free cash flow 10 years in a row

22 591 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Piotroski F-Score 8/9 — fundamentally strong checklist

Watch-outs

Loss-making in 1 of the recent years
Net debt equals ~5.7 years of free cash flow

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

7 of 10 checks passed

Revenue growing — the company sells more than a year ago+5.1% YoY
Profitable — makes more than it spends$439M TTM
Profit growing — earnings are higher than last year-1.2% YoY
Generates cash — cash left after running and investing$462M TTM
Debt under control — could handle its obligations~5.7y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$16.7B market cap
Not printing shares — share count not ballooning — you keep your slice-3.5% shares over ~5y
Proven track record — years of profitability behind it9/10 profitable years
Financially stable — balance sheet not near distresshealth score 35/100
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsP/E 38.1

Peer comparisonClean Harbors, Inc vs 6 largest utilities peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
CLH this company	$16.7B	38.1	+5.1%	7.0%	Mixed
NEE NextEra Energy, Inc.	$161.3B	17.4	+10.8%	32.4%	Strained
CEG Constellation Energy Corporation	$105.8B	30.5	+26.0%	11.1%	Strained
SO The Southern Company	$99.1B	21.3	+6.4%	15.4%	Strained
DUK Duke Energy Corporation	$90.9B	17.3	+6.3%	15.8%	Strained
WMB Williams Companies Inc.	$89.2B	29.0	+8.7%	25.2%	Strained
KMI Kinder Morgan, Inc.	$72.4B	20.9	+12.5%	19.3%	Strained

Head-to-head: CLH vs NEE · CLH vs CEG · CLH vs SO

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 7Buy 8Hold 6

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $6.24B · net income $439M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$6.24B

YoY 5.1%

Net income (TTM)

$439M

Margin 7.0%

Gross margin

32.3%

Operating margin

11.7%

P/E ratio

38.1

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	3.1	3.8	5.2	5.4	5.9	6.0
Gross profit	1.0	1.2	1.6	1.7	1.8	1.9
Operating income (EBIT)	0.3	0.3	0.6	0.6	0.7	0.7
Net income	0.1	0.2	0.4	0.4	0.4	0.4
EPS (diluted)	2.42	3.71	7.56	6.95	7.42	7.28

Cash flowFree cash flow $462M · operating cash flow $903M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$462M

Margin 7.4%

Operating cash flow (TTM)

$903M

FCF margin

7.4%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.4	0.5	0.6	0.7	0.8	0.9
Capital expenditure	-0.2	-0.2	-0.3	-0.4	-0.4	-0.4
Free cash flow	0.2	0.3	0.3	0.3	0.3	0.4
FCF margin	7.5%	8.0%	5.4%	5.8%	5.9%	7.3%

Balance sheetAssets $7.62B · net debt $2.64B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $7.62B of assets is financed

64%

36%

Liabilities $4.88B — borrowed moneyEquity $2.75B — owners' stake

Cash vs debt

Total debt $2.76B − cash $127M = net debt $2.64B

Cash on hand covers 5% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

4.7x

EBIT ÷ interest expense

ROE

15.6%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.1	0.1	0.1	0.1	0.1	0.1
Total assets	4.1	5.7	6.1	6.4	7.4	7.6
Total liabilities	2.8	4.1	4.2	4.1	4.8	4.9
Total debt	1.5	2.5	2.4	2.3	2.8	2.8
Equity	1.3	1.5	1.9	2.2	2.6	2.7
Net debt	1.5	2.4	2.4	2.2	2.7	2.6

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of CLH on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $316.93 · market cap $16.7B.