CLHNYSEHazardous Waste ManagementFiscal year ends December 31
CLEAN HARBORS INC
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 29, 2026
$316.61−3.45 (-1.08%)
Close on Oct 19, 2026
- Market cap
- $16.78B
- P/E (TTM)
- 42.8
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
31.3%−0.7 pts over 5 years
Operating margin
11.2%+3.2 pts over 5 years
Net margin
6.5%+2.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.4% | +5.3% | +13.9% | +6.3% | |
| Gross profit | +3.4% | +5.1% | +13.4% | +7.5% | |
| Operating income | +0.5% | +2.0% | +21.8% | +13.6% | |
| Net income | -2.8% | -1.7% | +23.7% | – | |
| EPS, diluted | -1.9% | -1.3% | +24.6% | +25.4% | |
| Free cash flow | +27.9% | +16.3% | +13.5% | +12.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -3.7% | 10.3% | 14.7% | |
| Return on assets | -1.1% | 3.3% | 5.2% | |
| Current ratio | 2.17 | 2.40 | 2.33 | |
| Debt to equity | 1.51 | 1.16 | 1.01 | |
| Net debt to EBITDA | 3.72× | 1.91× | 1.74× | |
| Inventory turnover | – | 9.8× | 11.0× | |
| Capex to revenue | 8.0% | 6.2% | 7.0% | |
| Diluted shares | 58M | 56M | 54M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Clean Harbors generated $3.55B from operations and spent $2.33B on capital expenditure, dividends and share buybacks. 80% of that went back into the business.
Generated
$3.55B
Used
$2.33B
Capital expenditure$1.87B80%Dividends$00%Share buybacks$460.94M20%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin6.5%
×Asset turnover0.80×
×Equity multiplier2.82×
=Return on equity, FY202514.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 6.5% | 0.80× | 2.82× | 14.7% |
| FY2024 | 6.8% | 0.86× | 2.85× | 16.7% |
| FY2023 | 7.0% | 0.86× | 3.00× | 18.1% |
| FY2022 | 8.0% | 0.88× | 3.43× | 24.0% |
| FY2021 | 5.3% | 0.78× | 3.43× | 14.2% |
| FY2020 | 4.3% | 0.76× | 3.16× | 10.3% |
| FY2019 | 2.9% | 0.87× | 3.22× | 8.0% |
| FY2018 | 2.0% | 0.89× | 3.16× | 5.6% |
| FY2017 | 3.4% | 0.80× | 3.25× | 8.9% |
| FY2016 | -1.4% | 0.77× | 3.26× | -3.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$390.97M
- Cash generatingOperating cash flow above zero$866.73M
- Return on assets improvedROA up on the prior year6.3% → 5.3%
- Earnings backed by cashOperating cash flow above net income$866.73M vs $390.97M
- Less leverageLong-term debt to assets fell37.6% → 36.2%
- Better liquidityCurrent ratio rose2.21 → 2.33
- No dilutionShare count did not rise54M → 54M
- Gross margin improvedGross margin up on the prior year30.97% → 31.28%
- More efficientAsset turnover rose0.92 → 0.82