Overall verdict
Buy
7.2/10
1-year performance
+34.46%
Score breakdown
Up 34.5% over 1 year, 82% of the 52-week range.
Strongest: Profitability 9.6/10. Weakest: Shareholder return 4.9/10.
17 analysts, target +0.2% vs the price.
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.
Sector
Industrials
Industry
Commercial Services and Supplies
Primary listing
Nyse
United States
CEO
Michael Battles
Founded
1980
Employees
22 155
Revenue / employee
272 211 USD
Next earnings
October 28, 2026 (estimated)
Institutional holders
- BlackRock, Inc.9.57%
- WELLINGTON MANAGEMENT GROUP LLP5.95%
- FMR LLC5.66%
- VANGUARD CAPITAL MANAGEMENT LLC4.12%
- VANGUARD PORTFOLIO MANAGEMENT LLC3.74%
- Jupiter Topco LLC3.02%
- STATE STREET CORP2.98%
- D1 Capital Partners L.P.2.48%
- GEODE CAPITAL MANAGEMENT, LLC2.13%
- Other institutions53.35%
- Rest of the register7.00%
656 13F filings as of June 30, 2026: US managers above $100M, filed up to 45 days after quarter end. No insiders, no retail. A share on loan is declared by its lender and by whoever bought it from the short seller, so the total can exceed 100%.
Research uses the underlying stock’s market history. The purchase quote is calculated separately when you review your order.
52-week high
335.94 USD
52-week low
201.34 USD
1-year performance
34.46%
Rising
Year-to-date performance
33.67%
Rising
Drawdown
-7.22%
Mild pullback
Position in the 52-week range
82% of range
Against the world ETF
Over 17 years, from September 2009 to August 2026, the share did not clearly beat the world ETF once risk is accounted for. It earned more, but shaking 2.3 times harder: for the risk taken, the ETF paid better.
$10,000 placed at the end of September 2009 are worth today
| Clean Harbors | $112,069 |
| World ETF | $59,358 |
| S&P 500 | $97,863 |
| Risk-free placement | $12,789 |
The risk
- Shaking:the share moves 2.3 times as much as the world ETF.
- Worst fall:-65 % between February 2020 and March 2020. $10,000 placed at the top fell to $3,549. The world ETF, at worst: -34 %. Back to its high in 11 months.
Clean Harbors earned more than the world ETF since 2009
Value of $10,000 placed at the end of September 2009, dividends reinvested, in dollars
- Clean Harbors: $112,069
- World ETF: $59,358
- S&P 500: $97,863
- Risk-free placement: $12,789
Based on past performance. This is not a recommendation.
Range: 237.69 USD - 285.51 USD (comparables only)
The price implies growth of 12.63% per year; the company grows at 24.62%.
Gross margin 24.7%, net margin 7.0%, ROIC 7.6%, ROE 15.6%.
Net margin
7.03%
High
Sector 5.30%|S&P 12.97%
Gross margin
24.74%
Fair
Return on equity (ROE)
15.56%
Exceptional
Sector 5.44%|S&P 16.52%
Return on invested capital (ROIC)
7.62%
Exceptional
Free cash flow margin (FCF)
7.38%
Exceptional
Profit-to-cash conversion (FCF conversion)
1.05x
Exceptional
Margin stability
2.7 pts
Steady
Revenue to net income
Growth
7.2/10Revenue up 11.9% over 1 year, 13.9% a year over 5, EPS 24.6% a year over 5.
Revenue (trailing 12 months)
6.2Md USD
Revenue growth (1y)
11.95%
Hyper-growth
Revenue growth (3y)
16.73%
Solid
EPS growth (1y)
36.45%
Hyper-growth
EPS CAGR (5y)
24.62%
Exceptional
EPS revisions (3 months)
15.68%
Sharply revised up
Valuation
5.5/10P/E 37.8x, forward P/E 31.7x, EV/EBITDA 14.7x, PEG 1.54. The multiple sits in the 93th percentile of its own 5-year history.
P/E (TTM)
37.8x
Expensive
Sector 22.0x|S&P 23.0x
Forward P/E
31.7x
Expensive
EV / EBITDA
14.7x
Fair
Sector 13.6x|S&P 14.6x
PEG
1.54
Expensive
Sector 0.79|S&P 0.86
Fair value (reverse DCF)
261.60 USD
Overvalued
P/E vs its own 5-year history
among the 7% highest valuations
At its historical high
Market cap
16.5Md USD
Financial strength
5.3/10Cash covers 17.0% of the debt, net debt/EBITDA 2.0x.
Net debt / EBITDA
2.0x
Solid
Gearing (net debt / equity)
85.97%
Tight
Cash
517M USD
Cash / market cap
3.13%
Tight
Cash / total debt
17.03%
Tight
Net debt
2.5Md USD
Equity
2.9Md USD
Closed daily candles, 2 years
Last close on September 29, 2026: 311.68 USD
- MM20316.29
- MM50314.37
- MM200289.81
- RSI 1444.6
Top panel: closed candles, 20, 50 and 200-day moving averages, with volume in grey. Bottom panel: 14-day RSI with dashed 30 and 70 levels.
200-day average slope, 1 month
+3.53%
200-day average slope, 3 months
+10.11%
50-day average slope, 1 month
+2.28%
Price structure
higher-low
Bullish RSI divergence
No
20-day volatility
0.78 % per day
Volatility change
-51.40%
Forecasts by fiscal year
| Fiscal year | EPS | Normalised EPS | Revenue | EBITDA | Net income |
|---|---|---|---|---|---|
| 2026 | 9.82 (15) | 9.82 (14) | 6 534 (15) | 1 395 (14) | 520 (13) |
| 2027 | 9.94 (15) | 9.97 (14) | 6 823 (15) | 1 421 (14) | 524 (13) |
Amounts in millions of USD, EPS in USD per share. In brackets, the number of analysts. Consensus as of September 28, 2026.
Same sub-industry: 128 companies behind the medians.
| # | Company | Code | Country | Overall / 10 | Fundamentals / 10 | Mkt cap | P/E | Net margin | Revenue growth | ROIC | Net debt / EBITDA | FCF yield | 1-year perf. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | CLH | 7.2 | 6.8 | 16.5Md USD | 37.8x | 7.0 % | 11.9 % | 7.6 % | 2.0x | 2.8 % | 34.5 % | ||
| 2 | TTEK | 6.9 | 7.0 | 8.7Md USD | 20.4x | 8.6 % | -4.5 % | 15.7 % | 1.2x | 6.3 % | 1.8 % | ||
| 3 | VLTO | 6.9 | 7.0 | 23.7Md USD | 24.5x | 17.3 % | 7.5 % | 17.8 % | 0.6x | 4.4 % | -8.4 % | ||
| 4 | RSG | 6.8 | 7.1 | 64.9Md USD | 30.0x | 12.9 % | 4.6 % | 8.7 % | 2.6x | 4.1 % | -7.0 % | ||
| 5 | ROL | 6.8 | 7.5 | 14.4Md USD | 27.3x | 13.6 % | 7.9 % | 24.1 % | 1.1x | 4.3 % | -46.6 % | ||
| 6 | WM | 6.7 | 6.6 | 82.7Md USD | 29.3x | 11.1 % | 4.0 % | 8.9 % | 3.1x | 4.3 % | -6.2 % | ||
| 7 | WCN | 6.3 | 6.4 | 39.2Md USD | 38.6x | 10.9 % | 2.0 % | 6.1 % | 3.0x | 2.9 % | -8.7 % | ||
| 8 | RTO | 5.1 | 6.0 | 10.3Md USD | 21.6x | 4.5 % | 1.2 % | 3.3 % | 2.5x | 7.3 % | -14.7 % | ||
| 9 | GFL | 4.4 | 2.4 | 18.4Md USD | Not meaningful (loss) | -2.6 % | 16.3 % | -1.1 % | 4.4x | 1.5 % | -9.8 % |
