Clean Harbors (CLH) AI Stock Analysis

• Market Cap: $11.11B
• Dividend Yield: N/A
• Average Volume (3M): 649.03K
• Price to Earnings (P/E): 28.8
• Beta (1Y): 0.86
• 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: 914,809
• 30 Day Avg. Volume: 649,031
• 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: 1.32
• Enterprise Value/Revenue: 2.46
• Enterprise Value/Gross Profit: 7.90
• Enterprise Value/Ebitda: 13.08
• 1Y Price Target: $259.20
• Price Target Upside: 24.66% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): 7.31
• Revenue Forecast (FY): $6.00B

• Rating: 70 Outperform
• Price Target: $240.00 ▲(15.42% Upside)

Clean Harbors demonstrates strong financial performance and strategic growth initiatives, particularly in the Environmental Services segment. However, the stock faces challenges with its current valuation and technical indicators suggesting a bearish trend. The earnings call provided a balanced view with both positive growth prospects and operational challenges, resulting in a moderate overall score.

Positive Factors

Revenue Growth

Consistent revenue and EBITDA growth indicate strong market demand and effective operational strategies, supporting long-term business expansion.

Cash Flow Generation

Strong cash flow generation enhances financial flexibility, allowing for strategic investments and resilience against economic fluctuations.

PFAS Market Growth

Growth in PFAS-related revenue reflects a strategic positioning in a niche market, capitalizing on regulatory trends and environmental needs.

Negative Factors

Industrial and Field Services Decline

Declines in Industrial and Field Services could signal structural challenges in these segments, potentially impacting overall revenue stability.

Higher Corporate Costs

Rising corporate costs, especially in insurance and healthcare, may pressure margins, reducing profitability and cash flow in the long term.

Healthcare Cost Challenges

Unexpected increases in healthcare costs can strain financial resources, necessitating cost management strategies to maintain profitability.

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 management, industrial cleaning, spill response, and environmental remediation. Operating across multiple sectors including oil and gas, manufacturing, and utilities, Clean Harbors offers a comprehensive range of services such as waste disposal, recycling, and site decommissioning, catering to a diverse clientele focused on compliance and sustainability.

How the Company Makes Money

Clean Harbors generates revenue through various key streams, primarily from its Environmental Services and Technical Services segments. The Environmental Services segment includes hazardous and non-hazardous waste management, which is a significant source of income as companies must comply with stringent environmental regulations. The Technical Services segment encompasses industrial cleaning, emergency response, and waste recycling services. Additionally, the company earns revenue from long-term contracts with major industries, including oil and gas, where ongoing service agreements provide steady income. Significant partnerships with government agencies and private sector companies enhance its revenue potential, as these relationships often lead to multi-year contracts for essential services. Finally, Clean Harbors benefits from market trends focusing on sustainability and environmental compliance, driving demand for its services.

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: Negative
• Last Price: 207.93
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLH, the sentiment is Negative. The current price of 207.93 is below the 20-day moving average (MA) of 227.60, below the 50-day MA of 232.09, and below the 200-day MA of 224.82, indicating a bearish trend. The MACD of -7.69 indicates Positive momentum. The RSI at 32.40 is Neutral, neither overbought nor oversold. The STOCH value of 5.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CLH.

Clean Harbors Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLH	70 Outperform	$11.11B	28.85	14.64%	―	2.85%	-6.27%
WM	68 Neutral	$81.35B	31.82	29.31%	1.60%	15.88%	-3.11%
RSG	65 Neutral	$63.64B	30.56	18.24%	1.06%	4.33%	7.59%
MEG	65 Neutral	$915.95M	―	-4.17%	―	22.77%	44.73%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
CWST	61 Neutral	$5.59B	367.15	0.98%	―	20.54%	106.35%
NVRI	47 Neutral	$983.10M	―	-35.66%	―	-0.83%	-61.90%

Clean Harbors Corporate Events

Clean Harbors Reports Strong Q3 2025 Financial Results

Clean Harbors, Inc., a leading provider of environmental and industrial services in North America, offers a wide range of solutions including hazardous waste management, emergency spill response, and recycling services. In its latest earnings report, Clean Harbors announced a third-quarter revenue of $1.55 billion, with significant growth in its Technical Services and Safety-Kleen Environmental Services segments. The company reported a net income of $118.8 million and an adjusted EBITDA of $320.2 million, marking a 6% increase from the previous year. Clean Harbors also revised its full-year 2025 adjusted EBITDA guidance upwards and raised its adjusted free cash flow expectations.

Clean Harbors’ Earnings Call: Growth Amid Challenges

Clean Harbors’ recent earnings call reflected a generally positive sentiment, despite some challenges. The company reported strong safety performance, revenue growth, and successful initiatives in the PFAS market. However, these positive aspects were tempered by difficulties in the Industrial and Field Services sectors and increased corporate costs. Nevertheless, Clean Harbors’ strategic initiatives and robust cash flow generation suggest a promising outlook for future growth.

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.

The most recent analyst rating on (CLH) stock is a Buy with a $258.00 price target. To see the full list of analyst forecasts on Clean Harbors stock, see the CLH Stock Forecast page.

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.

The most recent analyst rating on (CLH) stock is a Buy with a $259.00 price target. To see the full list of analyst forecasts on Clean Harbors stock, see the CLH Stock Forecast page.

Clean Harbors Reports Stable Q2 2025 Financial Performance

Clean Harbors, Inc. is a leading provider of environmental and industrial services in North America, offering a wide range of services including hazardous waste management, emergency spill response, and recycling services. The company also operates through its Safety-Kleen subsidiary, providing parts washers and environmental services to various industries.

Clean Harbors’ Earnings Call Highlights Strong Growth

Clean Harbors’ Recent Earnings Call Highlights Strong Performance and Strategic Growth