CLH
CLEAN HARBORS INC
Next earnings Jul 28, 2026 (before open) · consensus $2.77 EPS, $1.65B rev
Last earnings -8.2% on 2026-05-06
$291.20
▼ -2.87%$291.20▲ +26.03%
over 1Y
L $201.73H $313.70
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-2.9%
1W-2.7%
1M+5.5%
3M-2.0%
YTD+19.6%
1Y+26.0%
Hold
Conviction
Horizon
Long (>12mo)
Street · 20 analysts
Buy
Premier hazardous-waste franchise with a permit moat and 14.2% ROE — but at 39.6x EPS with flat earnings, the price is full.
Revenue $6.03B · FY2025
The read
Middling fundamentals and a rich price (~79% above fair value) leave little margin of safety — a wait-and-see.
Clean Harbors operates North America's leading hazardous-waste disposal and incineration network — a business with a genuine moat because new incineration permits are extraordinarily difficult to obtain. The fundamentals are steady and high quality: FY2025 revenue grew 2.4% to $6.03B, operating income held at $673M (11.2% margin), and the company generated $867M of operating cash flow (+11.4%) with a 14.2% ROE. The balance sheet is solid — $2.75B equity against $2.76B long-term debt (0.94x liabilities/equity) and $826M cash (+20.2%).
Management is returning more cash: buybacks surged to $250M (+353%), reducing shares 1.8%, and retained earnings rose 16.5% to $2.76B. Revenue has compounded impressively from $3.81B in FY2021 to $6.03B in FY2025, though net income has plateaued around $400M for three years, suggesting growth is becoming harder to convert into per-share earnings as D&A (+11.2%) and reinvestment ($425M capex) absorb the gains.
Is CLH a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~90d expiry
- Long 100 shares @ ~291.20
- Short call 305 @ ~11.34 est
debit $27,986max +$2,514max −$27,985BE 279.86
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $3.81B | $5.17B | $5.41B | $5.89B | $6.03B |
| Gross profit | — | — | — | — | — |
| Operating income | $348M | $635M | $612M | $670M | $673M |
| Net income | $203M | $412M | $378M | $402M | $391M |
| Diluted EPS | $3.71 | $7.56 | $6.95 | $7.42 | $7.28 |
| Net margin | 5.3% | 8.0% | 7.0% | 6.8% | 6.5% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$17.3B
EV / EBITDA15.5
EV / Sales2.9
EV / FCF39.2
P / FCF34.8
PEG (trailing)—
Earnings yield2.5%
FCF yield2.9%
Quality & risk
ROIC (est.)9.6%
Free cash flow$442M
Total debt$2.78B
Net cash-$1.95B
Altman Z-Score5.42 safe
Piotroski F-Score6/8
Capital returns
Buyback yield1.6%
Dividend yield (est.)—
Shareholder yield1.6%
Shares Δ YoY-1.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-06-012026-06-03open ↗4Period ending 2026-05-262026-05-27open ↗144Filing2026-05-26open ↗4Period ending 2026-05-202026-05-22open ↗4Period ending 2026-05-202026-05-22open ↗4Period ending 2026-05-202026-05-22open ↗4Period ending 2026-05-202026-05-22open ↗4Period ending 2026-05-202026-05-22open ↗4Period ending 2026-05-202026-05-22open ↗4Period ending 2026-05-202026-05-22open ↗4Period ending 2026-05-202026-05-22open ↗4Period ending 2026-05-202026-05-22open ↗
Frequently asked
- Is CLEAN HARBORS INC (CLH) a buy?
- CLH currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Premier hazardous-waste franchise with a permit moat and 14.2% ROE — but at 39.6x EPS with flat earnings, the price is full.
- What is CLH's fair value?
- A Modified-Graham model based on CLH's SEC fundamentals estimates a fair value of about $61.88. It is an estimate from reported earnings, not a price target.
- Is CLH overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, CLH currently appears overvalued relative to its SEC-grounded earnings power.
- What is CLEAN HARBORS INC's quality score?
- CLH scores 63.59310631288452/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000822818, latest 10-Q filed 2026-05-06) · EODHD · Proprietary analysis · as of 6/21/2026, 8:44:23 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:44 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.