Clean Harbors (CLH) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Clean Harbors

NYSE•Industrials•Waste Management

$317.71+4.79(0.02%)Market open

Market Cap

$15.62B

P/E

29.6x

P/S

2.4x

P/B

5.0x

Clean Harbors, Inc. provides environmental and industrial services in the United States and Canada. 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.

How this company scores

ExcellentMetricSide Score: 81/100

Strongest: Profitability (23/25); weakest: Balance Sheet & Red Flags (14/25).

Profitability23/25

Growth23/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality21/25

Strengths

High ROERising earningsCash-backed earningsProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 29.6x5y range 27.1x – 63.6x

Currently near its 20-quarter median.

P/S · 2.4x5y range 1.8x – 3.4x

Currently near its 20-quarter median.

P/B · 5.0x5y range 4.1x – 8.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $15.62B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $6.56B
Q. Revenue: $1.87B
TTM EBITDA: $1.33B
TTM Op. Income: $864.39M
Q. Op. Income: $318.11M
TTM Net Income: $528.36M
Q. Net Income: $208.10M
EPS: $3.94
Shares Out.: $52.75M

$6.56B in TTM revenue grew 10.1% YoY, reaching $1.87B last quarter. TTM EBITDA of $1.33B and TTM operating income of $864.39M show growth is flowing through to the bottom line. TTM net income of $528.36M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 5 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 23.6%
Op. Margin: 17.0%
Net Margin: 11.1%

Op. margin of 17.0% is up 4.6% YoY — cost efficiency is improving. Net margin at 11.1% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 29.6x
P/S Ratio: 2.4x
P/B Ratio: 5.0x

At 29.6x P/E, the stock trades within typical market levels. P/S of 2.4x and P/B of 5.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $8.28B
Cash: $423.54M
Long-Term Debt: $2.88B
Book Value: $3.12B
D/E Ratio: 0.9
Debt/EBITDA: 6.5

With $8.28B in assets and $2.88B in long-term debt, D/E is 0.9and book value is $3.12B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 3 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $419.20M
TTM Free Cash Flow: $500.54M
FCF Margin: 7.6%
FCF / Net Income: 0.9

TTM FCF of $500.54M on $419.20M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 11% — an improving trend.