Clean Harbors, Inc. (CLH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.82	$3.22	+14.2%	—	$1.7B	—
Q1 26	$1.15	$1.19	+3.5%	—	$1.5B	—
Q4 25	$1.6	$1.73	+8.1%	—	$1.5B	—
Q3 25	$2.39	$2.21	-7.5%	—	$1.5B	—
Q2 25	$1.23	$2.36	+91.9%	—	$1.5B	—
Q1 25	$1.05	$1.09	+3.8%	—	$1.4B	—
Q4 24	$1.36	$1.62	+19.1%	—	$1.4B	—
Q3 24	$2.18	$2.12	-2.8%	—	$1.5B	—
Q2 24	$2.23	$2.46	+10.3%	—	$1.6B	—
Q1 24	$1.15	$1.29	+12.2%	—	$1.4B	—
Q4 23	$1.7	$1.82	+7.1%	—	$1.3B	—
Q3 23	$2.08	$1.68	-19.2%	—	$1.4B	—
Q2 23	$2.09	$2.13	+1.9%	—	$1.4B	—
Q1 23	$1.16	$1.36	+17.2%	—	$1.3B	—
Q4 22	$1.35	$1.44	+6.7%	—	$1.3B	—
Q3 22	$2.06	$2.43	+18.0%	—	$1.4B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$7.31	—	—	$6B	—
FY24	—	$7.46	—	—	$5.9B	—
FY23	—	$6.99	—	—	$5.4B	—
FY22	—	$7.59	—	—	$5.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.8B	$2.9B	$3.3B	$3.4B	$3.1B	$3.8B	$5.2B	$5.4B	$5.9B	$6B
YoY change	-15.9%	+6.89%	+12.1%	+3.39%	-7.86%	+21%	+35.8%	+4.69%	+8.89%	+2.39%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.8B	2.9B	3.3B	3.4B	3.1B	3.8B	5.2B	5.4B	5.9B	6B
Cost of revenue	1.9B	2.1B	2.3B	2.4B	2.1B	2.6B	3.5B	3.7B	4.1B	4.1B
Gross profit	822.4M	882.3M	994.8M	1B	1B	1.2B	1.6B	1.7B	1.8B	1.9B
Gross margin	29.8%	30%	30.1%	30%	32%	31.4%	31.4%	30.7%	31%	31.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	422M	456.6M	503.7M	484.1M	451M	538M	627.4M	671.2M	739.6M	752.5M
Operating expenses	432.2M	466.1M	513.6M	494.2M	462.1M	549.7M	640.3M	684.8M	753.1M	766.9M
Operating income	103.2M	127.8M	182.6M	229.5M	251.3M	347.9M	634.7M	612.4M	670.2M	673.4M
Operating margin	3.74%	4.34%	5.53%	6.72%	7.99%	9.14%	12.3%	11.3%	11.4%	11.2%
Non-operating income, net	-10.9M	16.7M	-7M	-2.5M	-3.7M	-515K	10.9M	-565K	-1.8M	-2.3M
Pretax income	8.7M	58.7M	94.5M	148.2M	174.6M	269.7M	538M	503.3M	533.4M	528M
Income tax	48.6M	-42M	28.8M	50.5M	39.7M	66.5M	126.3M	125.4M	131.1M	137M
Net income	-39.9M	100.7M	65.6M	97.7M	134.8M	203.2M	411.7M	377.9M	402.3M	391M
Net margin	-1.45%	3.42%	1.99%	2.86%	4.29%	5.34%	7.97%	6.99%	6.83%	6.48%
EBITDA	397.2M	412M	479.6M	537.3M	547.4M	647.7M	989.4M	992.4M	1.1B	1.2B
EPS	-0.69	1.77	1.17	1.75	2.43	3.73	7.59	6.99	7.46	7.31
Diluted EPS	-0.69	1.76	1.16	1.74	2.42	3.71	7.56	6.95	7.42	7.28

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1.4B	1.3B	1.4B	1.6B	1.5B	1.4B	1.4B	1.5B	1.5B	1.5B	1.5B	1.7B
Cost of revenue	944M	923.1M	971.1M	1B	1.1B	1B	1B	1B	1B	1B	1B	1.1B
Gross profit	421.7M	415M	405.6M	517.2M	473.8M	427.6M	410.1M	516.4M	500.8M	459M	445.4M	608.8M
Gross margin	30.9%	31%	29.5%	33.3%	31%	29.9%	28.6%	33.3%	32.3%	30.6%	30.5%	35.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	171M	166M	181.9M	197.9M	177.8M	182M	182.8M	186.2M	189.6M	193.9M	207.1M	214.6M
Operating expenses	174.4M	169.4M	185.1M	201.2M	181.5M	185.4M	186.5M	189.8M	193.1M	197.5M	210.7M	218.1M
Operating income	154.4M	147.3M	125.5M	215.5M	192.3M	137M	111.6M	210.3M	193M	158.4M	118.9M	268.9M
Operating margin	11.3%	11%	9.11%	13.9%	12.6%	9.57%	7.79%	13.6%	12.5%	10.6%	8.15%	15.5%
Non-operating income, net	334K	2.6M	-1.1M	-167K	-1.1M	606K	-932K	-603K	3.5M	-4.3M	-731K	430K
Pretax income	125M	121.7M	95.8M	178.9M	155.4M	103.4M	74.6M	172.6M	160.8M	119.9M	84.3M	232.1M
Income tax	33.7M	23.4M	26M	45.6M	40.2M	19.4M	15.9M	45.7M	42M	33.4M	21.1M	61.7M
Net income	91.3M	98.3M	69.8M	133.3M	115.2M	84M	58.7M	126.9M	118.8M	86.6M	63.2M	170.5M
Net margin	6.69%	7.35%	5.07%	8.58%	7.53%	5.87%	4.1%	8.19%	7.67%	5.77%	4.33%	9.82%
EBITDA	250.5M	252.9M	222.9M	320.2M	296.6M	249.4M	228.3M	331.1M	317.8M	265.7M	240.4M	394.8M
EPS	1.69	1.82	1.29	2.47	2.14	1.56	1.09	2.37	2.22	1.63	1.2	3.23
Diluted EPS	1.68	1.81	1.29	2.46	2.12	1.55	1.09	2.36	2.21	1.62	1.19	3.22

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.2B	3.1B	2.8B	4.8B	4.2B	5.4B	6.2B	9.4B	12.4B	12.5B	16.5B
Enterprise value	4.5B	4.4B	4.1B	6.1B	5.4B	7.6B	8.2B	11.4B	14.7B	14.6B	19.3B
Shares outstanding	57.5M	57.1M	56.1M	55.8M	55.5M	54.5M	54.2M	54.1M	53.9M	53.5M	53.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	30.7	42.2	49	31.3	26.8	15	25	30.8	32.1	37.9
P/S	1.16	1.05	0.84	1.4	1.34	1.43	1.2	1.74	2.11	2.08	2.64
P/B	2.95	2.6	2.37	3.77	3.15	3.59	3.22	4.2	4.82	4.57	5.64
EV/EBITDA	11.4	10.6	8.47	11.3	9.79	11.7	8.31	11.5	13.5	12.7	16.1
EV/Sales	1.64	1.48	1.23	1.79	1.7	2	1.59	2.1	2.49	2.43	3.08
Earnings yield	—	3.26%	2.37%	2.04%	3.19%	3.74%	6.65%	4%	3.24%	3.12%	2.64%
FCF yield	1.17%	3.78%	6.32%	4.03%	5.5%	5.52%	4.51%	3.28%	2.71%	3.49%	2.32%
PEG	—	—	—	—	—	—	—	—	—	—	1.04

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	29.8%	30%	30.1%	30%	32%	31.4%	31.4%	30.7%	31%	31.3%	35.1%
Operating margin	3.74%	4.34%	5.53%	6.72%	7.99%	9.14%	12.3%	11.3%	11.4%	11.2%	15.5%
Net margin	-1.45%	3.42%	1.99%	2.86%	4.29%	5.34%	7.97%	6.99%	6.83%	6.48%	7.03%
ROE	-3.68%	8.48%	5.61%	7.7%	10.1%	13.4%	21.4%	16.8%	15.6%	14.2%	15.6%
ROA	-1.08%	2.72%	1.76%	2.38%	3.26%	3.59%	6.72%	5.92%	5.45%	5.13%	6.07%
ROIC	0%	5.19%	5.15%	5.87%	7.83%	7.12%	12.3%	11%	10.5%	10.3%	9.98%
Return on tangible assets	-2.27%	5.56%	3.59%	4.4%	5.85%	10.6%	17.2%	14.5%	13.3%	11.6%	14.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.17	2.29	2	1.95	2.4	1.88	1.99	1.98	2.21	2.33	2.13
Quick ratio	1.81	1.94	1.66	1.65	2.05	1.61	1.68	1.66	1.86	2	1.8
Debt / equity	1.51	1.37	1.34	1.36	1.27	1.78	1.35	1.11	1.18	1.11	1.11
Debt / assets	0.44	0.44	0.42	0.42	0.41	0.48	0.42	0.39	0.41	0.4	0.39
Net debt / EBITDA	3.34	3.09	2.7	2.44	2.08	3.34	2.06	1.95	2.07	1.81	2.07
Interest coverage	1.1	1.67	2.12	2.79	3.28	4.38	5.79	5.18	4.45	4.13	4.6
Effective tax rate	100%	0%	30.5%	34.1%	22.8%	24.6%	23.5%	24.9%	24.6%	25.9%	26.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	47.9	51.6	58.8	61.1	56.7	69.8	95.3	100	109.3	112.7	117.6
EPS (basic)	-0.69	1.77	1.17	1.75	2.43	3.73	7.59	6.99	7.46	7.31	7.31
EPS (diluted)	-0.69	1.76	1.16	1.74	2.42	3.71	7.56	6.95	7.42	7.28	8.26
Book value per share	18.8	20.8	20.8	22.7	24.2	27.8	35.5	41.6	47.7	51.3	55.5
FCF per share	0.65	2.05	3.12	3.46	4.19	5.51	5.15	5.73	6.23	8.19	8.65
Cash per share	5.34	6.27	4.98	7.42	10.3	9.8	10.2	10.2	14.7	17.8	9.79
Capex per share	3.45	2.8	3.17	3.66	3.36	4.03	6.2	7.63	7.85	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	7.21%	5.43%	5.39%	6%	5.94%	5.77%	6.51%	7.63%	7.18%	—	—
Capex / operating cash flow	79.2%	51.7%	48.5%	50.5%	44.7%	40.8%	53.6%	56.9%	55%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%
Dividend yield	—	—	—	—	—	—	—	—	—	—	0%

Yield

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.0026

ex-dividend Feb 2, 2007

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Feb 2, 2007	$0.0026
Jan 29, 2007	$0.4609
Jul 27, 2006	$0.4609
Jul 27, 2005	$0.4609
Jan 27, 2005	$0.4609
Jul 28, 2004	$0.4609
Jan 28, 2004	$0.4609
Jul 29, 2003	$0.4609

Split history

Date	Ratio
Jul 27, 2011	2:1

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1.4B	$1.3B	$1.4B	$1.6B	$1.5B	$1.4B	$1.4B	$1.5B	$1.5B	$1.5B	$1.5B	$1.7B
YoY change	+0.19%	+4.7%	+5.3%	+11.1%	+12%	+6.95%	+4.01%	-0.18%	+1.3%	+4.79%	+1.93%	+11.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	307M	357.6M	279.4M	414.4M	571M	534.3M	554.6M	550.8M	789.8M	953.7M
Receivables	496.2M	528.9M	607M	644.7M	611.5M	792.7M	964.6M	983.1M	1B	1B
Inventory	178.4M	176M	199.5M	214.7M	220.5M	250.7M	325M	327.5M	384.7M	372.1M
Total current assets	1.1B	1.2B	1.2B	1.4B	1.5B	1.7B	2B	2.1B	2.4B	2.6B
Property, plant & equipment	1.2B	1.2B	1.1B	1.3B	1.2B	1.5B	1.6B	1.7B	2B	2B
Goodwill & intangibles	1.9B	1.9B	1.9B	1.9B	1.8B	3.7B	3.7B	3.8B	4.4B	4.3B
Total assets	3.7B	3.7B	3.7B	4.1B	4.1B	5.7B	6.1B	6.4B	7.4B	7.6B
Accounts payable	229.5M	224.2M	276.5M	298.4M	195.9M	359.9M	446.6M	451.8M	487.3M	506.6M
Short-term debt	—	4M	7.5M	48.5M	44.3M	65.1M	59.5M	66.4M	86.8M	87.8M
Total current liabilities	504.7M	503.8M	602.3M	720.1M	636.1M	925.3M	1B	1B	1.1B	1.1B
Long-term debt	1.6B	1.6B	1.6B	1.7B	1.7B	2.6B	2.5B	2.4B	3B	2.9B
Total liabilities	2.6B	2.5B	2.6B	2.8B	2.8B	4.1B	4.2B	4.1B	4.8B	4.9B
Shareholders' equity	1.1B	1.2B	1.2B	1.3B	1.3B	1.5B	1.9B	2.2B	2.6B	2.7B
Total debt	1.6B	1.6B	1.6B	1.7B	1.7B	2.7B	2.6B	2.5B	3B	3B
Net debt	1.3B	1.3B	1.3B	1.4B	1.2B	2.2B	2.1B	2B	2.4B	2.2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	420M	550.8M	442.6M	493.3M	594.7M	789.8M	595.3M	699.1M	850.4M	953.7M	669M	516.7M
Receivables	1B	983.1M	1B	1.1B	1.1B	1B	1.1B	1.1B	1.1B	1B	1.1B	1.3B
Inventory	311.5M	327.5M	354.3M	365.4M	376.6M	384.7M	376M	383.4M	377.3M	372.1M	363.9M	382.9M
Total current assets	2B	2.1B	2.1B	2.2B	2.4B	2.4B	2.3B	2.5B	2.6B	2.6B	2.4B	2.5B
Property, plant & equipment	1.7B	1.7B	1.9B	2B	2B	2B	2B	2B	2B	2B	2.1B	2.1B
Goodwill & intangibles	3.8B	3.8B	4.5B	4.4B	4.4B	4.4B	4.3B	4.3B	4.3B	4.3B	4.5B	4.8B
Total assets	6.2B	6.4B	6.9B	7.1B	7.3B	7.4B	7.2B	7.4B	7.5B	7.6B	7.6B	7.8B
Accounts payable	415M	451.8M	452.8M	447.9M	504.2M	487.3M	443.7M	432.8M	444.1M	506.6M	464.2M	518.2M
Short-term debt	67.1M	66.4M	79.6M	81M	85.6M	86.8M	87M	88.1M	87.3M	87.8M	90.7M	92.9M
Total current liabilities	975.4M	1B	1B	1.1B	1.1B	1.1B	976.3M	1B	1.1B	1.1B	1B	1.2B
Long-term debt	2.4B	2.4B	2.9B	2.9B	3B	3B	2.9B	2.9B	2.9B	2.9B	3B	2.9B
Total liabilities	4.1B	4.1B	4.6B	4.7B	4.8B	4.8B	4.7B	4.7B	4.8B	4.9B	4.8B	4.9B
Shareholders' equity	2.2B	2.2B	2.3B	2.4B	2.5B	2.6B	2.6B	2.7B	2.8B	2.7B	2.8B	2.9B
Total debt	2.5B	2.5B	3B	3B	3B	3B	3B	3B	3B	3B	3B	3B
Net debt	2.2B	2B	2.7B	2.6B	2.5B	2.4B	2.5B	2.4B	2.3B	2.2B	2.5B	2.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-39.9M	100.7M	65.6M	97.7M	134.8M	203.2M	411.7M	377.9M	402.3M	391M
Depreciation & amortization	287M	288.4M	298.6M	300.7M	292.9M	298.1M	347.6M	365.8M	400.9M	446M
Stock-based compensation	10.5M	13.1M	16.8M	17.8M	18.5M	18.8M	26.8M	20.7M	28M	32.7M
Change in working capital	-14.9M	-15.7M	-43.3M	-11M	-32.7M	12.3M	-188M	-43.8M	-78.2M	-33.5M
Operating cash flow	250.6M	309.1M	367M	405.3M	417.1M	538M	626.9M	725.7M	769.3M	866.7M
Capital expenditure	-198.6M	-159.9M	-177.9M	-204.7M	-186.6M	-219.7M	-336.3M	-412.6M	-423.1M	—
Investing cash flow	-361.8M	-203.3M	-345M	-214M	-197.4M	-1.5B	-387M	-572.4M	-894.1M	-18.8M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-22.2M	-49M	-45.1M	-21.4M	-74.8M	-54.4M	-50.2M	-51.2M	-55.2M	-250M
Financing cash flow	219.6M	-72.8M	-161M	-53.4M	-88.9M	898.2M	-187.3M	-322.9M	374M	-316.5M
Net change in cash	108.5M	33.1M	-138.9M	138M	130.7M	-67.5M	52.6M	-169.6M	249.2M	531.4M
Free cash flow	37.4M	117.1M	175.2M	193M	232.3M	300.3M	279.2M	309.6M	335.9M	438.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	91.3M	98.3M	69.8M	133.3M	115.2M	84M	58.7M	126.9M	118.8M	86.6M	63.2M	170.5M
Depreciation & amortization	93M	98.3M	95.1M	100.5M	100.1M	105.3M	112M	116.3M	114.7M	103M	115.8M	121.8M
Stock-based compensation	4.3M	5.9M	6.3M	8.5M	5.8M	7.3M	7.6M	6.1M	8.9M	10.1M	9.6M	14.8M
Change in working capital	30.6M	61.2M	-156.2M	-31.8M	20.1M	89.7M	-173.3M	-44M	58.5M	125.2M	-185.1M	-71.9M
Operating cash flow	218.7M	275M	16.8M	213.4M	237.9M	301.1M	-1.2M	208M	302M	355.1M	6.3M	239.2M
Capital expenditure	-105.4M	-105.9M	-136.9M	-131.8M	-94.7M	-59.7M	-117.4M	—	—	—	—	—
Investing cash flow	-99.4M	-126.8M	-609.3M	-119.5M	-81.6M	-83.7M	-120.1M	7.4M	8.2M	-31.6M	-125.6M	-212.9M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-10M	-33.2M	-5M	-5.2M	-20M	-25M	-55M	-12M	-50M	-133M	-25M	-27.1M
Financing cash flow	-22.5M	-43.6M	486M	-30.5M	-46.9M	-34.5M	-79.3M	-25.3M	-65.4M	-146.6M	-58.3M	-43.6M
Net change in cash	96.8M	104.6M	-106.5M	63.4M	109.4M	182.9M	-200.6M	190.2M	244.8M	176.8M	-177.6M	-17.4M
Free cash flow	112.1M	167.3M	-119.9M	79.6M	141.8M	234.5M	-117.3M	117.5M	206.8M	231.2M	-92.3M	112.2M

Clean Harbors, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement