Clean Harbors, Inc.
Rank #279HypergrowthCLH · NYSE · Industrials
Clean Harbors, Inc. (CLH) — Rank #279 by gross profitability (GP/assets 0.25) · ROE 14.1% · Piotroski F-Score 9 / 9.
As-of 2026-09-15 · CIK 0000822818 · all metrics point-in-time as of the filing date.
About
Clean Harbors, Inc. provides environmental and industrial services in the United States and Canada.
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The company operates through two segments: Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, recycles, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste. This segment also provides industrial maintenance and specialty industrial services; and utilizes specialty equipment and resources that perform field services. The Safety-Kleen Sustainability Solutions segment provides containerized waste, parts-washer, and vacuum services for automobile repair shops, car and truck dealers, metal fabricators, machine manufacturers, fleet maintenance shops, and other automotive, industrial, and retail customers; collects and transports for hazardous and non-hazardous containerized waste for recycling or disposal; machine cleaning and maintenance, and disposal and replenishment of clean solvent or aqueous fluids; and vacuum services to remove solids, residual oily water, and sludge and other fluids from customers' oil/water separators, sumps, and collection tanks, as well as removes and collects waste fluids found at large and small industrial locations, including metal fabricators, auto maintenance providers, and general manufacturers. This segment also manufactures, formulates, and packages lubricants and other products. Clean Harbors, Inc.
was incorporated in 1980 and is headquartered in Norwell, Massachusetts.
- Industry
- Waste Management
- Sector
- Industrials
- State
- MA
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- cleanharbors.com
Price History
Company Snapshot
P/S is the primary valuation lens — earnings are reinvested, not available for P/E.
Market Cap
$16.97B
P/E (annual)
44.2
P/S (annual)
2.8
P/B
6.1
P/OCF (annual)
19.6
Shareholder Yield
6.6%
Employees
22,155
Industry
Waste Management
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
16.8%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -6.6% — per-share value needs a total required return of 10.2% once share-count change is priced in.
vs. own 6-year median revenue growth: 1.9%
priced above its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
12.0%
r = 10% (base)
16.8%
r = 12%
21.0%
Net debt / market cap: 12.2%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Disclosure regression check
A previously-disclosed line item is no longer reported. Worth checking the filing for why.
Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.25
Primary signal (Novy-Marx).
1st of 8 SIC 49 peers
Return on equity
14.1%
Gross margin
31.3%
3rd of 8 SIC 49 peers
Revenue growth (YoY)
118.9%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
—
Revenue CAGR (5Y)
—
Earnings CAGR (3Y)
-1.7%
FCF CAGR (3Y)
—
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.72
2nd of 5 SIC 49 peers (best = lowest)
Current ratio
2.34×
2nd of 8 SIC 49 peers
Quick ratio
1.71×
Net cash
-$2.10B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$441.81M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.13
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.5%
Stock-based comp intensity.
Piotroski F-Score
F-Score
9 / 9
Fundamental-strength score (0-9).