Clean Harbors (CLH) AI Stock Analysis

• Market Cap: $12.79B
• Dividend Yield: N/A
• Average Volume (3M): 544.72K
• Price to Earnings (P/E): 33.2
• Beta (1Y): 0.82
• Revenue Growth: 2.85%
• EPS Growth: -6.27%
• Country: US
• Employees: 22,796
• Sector: Industrials
• Sector Strength: 72
• Industry: Waste Management
• EPS (TTM): 2.21
• Shares Outstanding: 53,431,835
• 10 Day Avg. Volume: 435,337
• 30 Day Avg. Volume: 544,717
• PEG Ratio: 4.59
• Price to Book (P/B): 4.82
• Price to Sales (P/S): 2.11
• P/FCF Ratio: 35.90
• Enterprise Value/Market Cap: 1.15
• Enterprise Value/Revenue: 2.46
• Enterprise Value/Gross Profit: 7.90
• Enterprise Value/Ebitda: 13.08
• 1Y Price Target: $250.67
• Price Target Upside: 4.75% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): 7.25
• Revenue Forecast (FY): $5.99B

• Rating: 78 Outperform
• Price Target: $273.00 ▲(14.08% Upside)

Clean Harbors' strong financial performance and positive earnings call sentiment are the primary drivers of its stock score. Technical indicators suggest a strong upward trend, though caution is warranted due to overbought signals. The stock's high valuation relative to peers slightly tempers the overall score.

Positive Factors

Strong Cash Flow Generation

The significant increase in free cash flow indicates robust cash generation capabilities, enhancing financial flexibility for future investments and debt reduction.

PFAS Market Growth

Growth in PFAS-related revenue highlights Clean Harbors' ability to capitalize on emerging environmental needs, supporting long-term revenue expansion.

New Contracts

Securing significant contracts for PFAS filtration strengthens Clean Harbors' market position and ensures steady revenue streams over the coming years.

Negative Factors

Industrial and Field Services Decline

Declines in these segments suggest challenges in maintaining growth across all service areas, potentially impacting overall revenue diversity and stability.

Higher Corporate Costs

Rising corporate costs, particularly in insurance and healthcare, could pressure profit margins and reduce financial flexibility if not managed effectively.

Healthcare Cost Challenges

Unexpected increases in healthcare costs can strain profitability and necessitate cost control measures to maintain financial health.

Clean Harbors Business Overview & Revenue Model

Company Description

Clean Harbors, Inc. is a leading provider of environmental, energy, and industrial services throughout North America. The company specializes in hazardous waste disposal, emergency response services, industrial cleaning, and recycling services, catering to a diverse range of sectors including oil and gas, manufacturing, and construction. With a commitment to sustainability and safety, Clean Harbors offers a comprehensive suite of services designed to manage waste and environmental compliance effectively.

How the Company Makes Money

Clean Harbors generates revenue primarily through its diverse service offerings, which include waste management, industrial services, and environmental solutions. The company's revenue model is built on a mix of contractual agreements and one-time service fees, enabling it to secure stable income from long-term clients while also capitalizing on project-based work. Key revenue streams include hazardous waste treatment and disposal, industrial cleaning services, and emergency response operations. Additionally, Clean Harbors benefits from strategic partnerships with various sectors such as energy and manufacturing, allowing it to provide tailored solutions that meet specific regulatory and operational needs. The company's focus on sustainability and efficiency further enhances its appeal to clients, contributing to its overall earnings.

Clean Harbors Financial Statement Overview

Summary

Clean Harbors exhibits strong financial performance with impressive revenue growth and profitability metrics. The company has effectively managed its leverage, resulting in a stable balance sheet. Cash flow generation remains robust, supporting future growth initiatives. Continued focus on cost management and maintaining cash flow growth will enhance financial resilience.

Income Statement

Clean Harbors has demonstrated strong revenue growth with a 33.5% increase in TTM, supported by solid gross and net profit margins of 31.1% and 6.5% respectively. The EBIT and EBITDA margins are also healthy at 13.95% and 21.47%, indicating efficient operational management. However, slight declines in net income from the previous year suggest room for improvement in cost control.

Balance Sheet

The company's balance sheet shows a strong equity position with a low debt-to-equity ratio of 0.09 in TTM, reflecting reduced leverage and improved financial stability. The return on equity is robust at 14.61%, indicating effective use of shareholder funds. However, the equity ratio of 36.8% suggests moderate reliance on debt financing.

Cash Flow

Cash flow analysis reveals a positive trajectory with a 17.44% growth in free cash flow, indicating strong cash generation capabilities. The operating cash flow to net income ratio of 0.76 and free cash flow to net income ratio of 0.54 highlight efficient cash management. Continued focus on maintaining cash flow growth will be beneficial.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	5.96B	5.89B	5.41B	5.17B	3.81B	3.14B
Gross Profit	1.85B	1.82B	1.66B	1.62B	1.20B	1.01B
EBITDA	1.12B	1.09B	989.57M	997.86M	647.73M	544.05M
Net Income	388.36M	402.30M	377.86M	411.74M	203.25M	134.84M
Balance Sheet
Total Assets	7.54B	7.38B	6.38B	6.13B	5.65B	4.13B
Cash, Cash Equivalents and Short-Term Investments	850.37M	789.83M	550.80M	554.64M	534.30M	570.96M
Total Debt	260.48M	3.04B	2.49B	2.59B	2.70B	1.71B
Total Liabilities	4.76B	4.80B	4.14B	4.21B	4.14B	2.79B
Stockholders Equity	2.78B	2.57B	2.25B	1.92B	1.51B	1.34B
Cash Flow
Free Cash Flow	442.92M	345.53M	309.60M	279.19M	300.29M	232.31M
Operating Cash Flow	815.57M	777.77M	734.55M	626.21M	546.00M	430.60M
Investing Cash Flow	-367.32M	-903.67M	-575.05M	-388.94M	-1.51B	-199.46M
Financing Cash Flow	-198.05M	377.03M	-208.89M	-187.31M	898.25M	-88.95M

Clean Harbors Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 239.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLH, the sentiment is Positive. The current price of 239.3 is above the 20-day moving average (MA) of 234.23, above the 50-day MA of 226.70, and above the 200-day MA of 225.03, indicating a bullish trend. The MACD of 5.04 indicates Negative momentum. The RSI at 62.00 is Neutral, neither overbought nor oversold. The STOCH value of 44.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CLH.

Clean Harbors Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLH	78 Outperform	$12.79B	33.20	14.64%	―	2.85%	-6.27%
WM	76 Outperform	$87.16B	34.09	29.31%	1.53%	15.88%	-3.11%
RSG	72 Outperform	$65.98B	31.68	18.24%	1.11%	4.33%	7.59%
MEG	69 Neutral	$923.37M	-27.69	-4.17%	―	22.77%	44.73%
CWST	69 Neutral	$6.25B	410.55	0.98%	―	20.54%	106.35%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
NVRI	56 Neutral	$1.47B	-8.79	-38.53%	―	-2.91%	-67.18%

Clean Harbors Corporate Events

Clean Harbors Issues $745M Senior Notes for Refinancing

On October 9, 2025, Clean Harbors, Inc. issued $745 million in 5.750% senior notes due 2033 to refinance existing debt and redeem outstanding notes. The issuance, under an Indenture with U.S. Bank Trust Company, includes covenants restricting certain financial activities, with conditions for redemption and default events. Concurrently, Clean Harbors amended its credit agreement, securing $1.26 billion in new term loans to refinance prior loans, with interest options tied to SOFR or U.S. Base Rate, and secured by liens on company assets.

Clean Harbors Announces $845M Senior Notes Offering

On September 25, 2025, Clean Harbors announced the commencement of a private offering of $845 million in senior notes due 2033. The company plans to use the proceeds, along with borrowings from a new secured term loan credit facility and cash on hand, to refinance existing debts, including repaying $1,457.3 million in secured senior term loans and redeeming $545 million of 4.875% senior notes due 2027. This strategic financial move aims to optimize the company’s capital structure, though its completion is subject to market conditions.