Clean Harbors Inc (CLH) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Clean Harbors Inc stock $156, price $288, that is 46.0% below the price, quality 58 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range $82.86 – $326.34 · fair‑value band $95.07 – $194.42 · the $288.24 price screens above the $155.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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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.
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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.
Stock analysis
Clean Harbors Inc (CLH) currently trades at $288.24, while our model-based Fair Value estimate is $155.54, 46% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $173.82 per share, and 0 of the 24 models we run sit above the $288.24 price.
Bear case: the Economic Profit group reads lowest at $65.74, and 24 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $95.07 (bear) to $194.42 (bull), the price of $288.24 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Clean Harbors Inc reported revenue of $6.0B in FY2025 versus $3.8B in FY2021, a compound +12.2%/yr. Reported net income was $391M in FY2025, compounding +17.8%/yr from FY2021.
Key figures
Market cap $15.4B Large · P/E ratio 34.9 · P/S ratio 2.47 · EPS (TTM) $8.25 · Net margin 7.0% · Return on equity 15.6% · Return on assets (EBIT) 8.8% · Operating margin 15.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (medium confidence).
What moves the price
The share trades about 12% below its 52-week high and 43% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −17% fair-value upside, at −46%, CLH screens richer than that median.
Fair Value models
Bear$95.07Fair Value $155.54Bull$194.42
Price $288.24 · Downside -46.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($6.98 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $175,114, on Oct 29, 2026. Over the same period, 3 people sold shares worth $1.3M.
BuyKaryn PolitoDirector2× since May 11, 2026: 585 shares, avg. $299.34$175,114Oct 29, 2026
SaleEric W GerstenbergCO-CEO4× since Dec 16, 2025: 6,601 shares, avg. $294.01$1.9MAug 14, 2026
SaleAndrea RobertsonDirector789 shares at $314.01$247,754Aug 3, 2026
SaleLauren StatesDirector789 shares at $286.19$225,804May 26, 2026
SaleMarcy L. ReedDirector836 shares at $287.94$240,718Mar 18, 2026
SaleBrian P WeberEVP (CHESI)4,683 shares at $293.39$1.4MMar 17, 2026
SaleAlan S McKimEXEC CHAIR, CTO., Director2× since Feb 19, 2026: 200,000 shares, avg. $286.90$57.4MMar 4, 2026
SaleEric J. DugasEVP CHIEF FINANCIAL OFFICER2,788 shares at $281.31$784,292Feb 20, 2026
SaleSharon M. GabrielEVP/CIO (CHESI)3,540 shares at $282.07$998,528Feb 20, 2026
SaleJohn R. WelchDirector750 shares at $273.07$204,803Feb 19, 2026
Plus 24 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+2.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.9%
Start year 2020 (pandemic). Over 10 years: +6.3% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+24.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.24.8% vs 25.5%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+19.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +16.9% a year for the price and +3.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Moderate organization capital and pricing stability form the main strength, while thin evidence overall for a durable moat remains the key weakness in waste services.
Main risk: Repeated EPA fines and RCRA violations at incineration and treatment facilities could raise compliance costs, trigger operational restrictions or permit challenges and thereby pressure margins or available capacity.
Bull case: By maintaining strong compliance and leveraging its permitted network the company could capture rising demand for regulated hazardous-waste services amid tighter environmental rules.
Bear case: Ongoing regulatory scrutiny and enforcement actions could lead to facility restrictions or higher ongoing costs that limit operational scale and cash generation from the expanded network.
Clean Harbors recently completed two acquisitions that broaden its technical services and field services reach across North America. The moves were supported by a new debt issuance on top of existing cash. Our models currently see the stock as overvalued. Will the expanded network and cross-selling potential generate enough additional cash flows to ease the leverage, or will the added debt load weigh on returns going forward?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Waste Management · 155 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Top 25%
Fair Value upside−46.0% · Below median
Profitability
Return on equity (12 months)15.6% · Top 25%
Return on assets5.1% · Above median
Net margin (12 months)7.0% · Above median
Operating margin (12 months)15.5% · Above median
Growth and dividend
Revenue growth (quarter YoY)11.9% · Above median
Balance sheet
Debt / equity1.01× · Highest 25%
Valuation Multiplesvs Waste Management median · lower = cheaper
P/E (12 months)34.9× · Priciest 25%
P/B5.61× · Priciest 25%
P/S (12 months)2.47× · Pricier than median
Price / free cash flow34.9× · Priciest 25%
EV/EBITDA14.5× · Pricier than median
PEG0.27× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 29
FUTURE (revenue growth)60· sector 37
PAST (return on equity)62· sector 23
HEALTH (low debt)50· sector 83
DIVIDEND (yield)0· sector 51
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Clean Harbors Inc (CLH) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $155.54 versus a price of $288.24, about 46% lower (overvalued).
What is the fair value of CLH?
Our model-based fair value for Clean Harbors Inc is $155.54 (as of Nov 3, 2026), built from audited fundamentals. The current price: $288.24.
What is the quality score of CLH?
Clean Harbors Inc has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Clean Harbors Inc (CLH)?
Our model-based price target is the fair value of $155.54 (as of Nov 3, 2026) from 24 valuation models. Cautious scenario $95.07, optimistic scenario $194.42. It is a calculation from audited fundamentals, not an analyst target.
What is the Clean Harbors Inc stock forecast for 2026?
Our models put fair value at $155.54, about 46% lower versus a price of $288.24 (overvalued). Cautious scenario $95.07, optimistic scenario $194.42. The calculation is refreshed regularly with new filings.
What is the revenue of Clean Harbors Inc (CLH)?
Clean Harbors Inc reported trailing-twelve-month revenue of about $6.2B (latest available figure, as of Nov 3, 2026).
What growth is priced into Clean Harbors Inc (CLH)?
For today's price to be fair in a discounted-cash-flow model, Clean Harbors Inc would have to grow free cash flow by +19.7 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.9 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of CLH use?
Our models discount Clean Harbors Inc at 8.9 %: a base by market capitalisation (large), damped by beta 0.88, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Clean Harbors Inc that is +19.7 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Clean Harbors Inc (CLH) delivered so far?
Over the past 5 years revenue at Clean Harbors Inc grew +13.9 % a year. The price currently implies +19.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Clean Harbors Inc (CLH) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Clean Harbors Inc (+19.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Clean Harbors Inc (CLH)?
The free-cash-flow yield on the price is 2.89 %: that much free cash flow Clean Harbors Inc produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Clean Harbors Inc (CLH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Clean Harbors Inc it is $155.54 per share (as of Nov 3, 2026), against a price of $288.24. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Clean Harbors Inc stock overvalued or undervalued in 2026?
As of Nov 3, 2026, CLH trades above its calculated fair value: price $288.24, fair value $155.54, a gap of about −46% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CLH?
No. The price is what the market pays today ($288.24); the fair value is what the company's own numbers justify ($155.54). For Clean Harbors Inc the two are $132.70 per share apart. That gap is exactly why we show both numbers side by side.
How much is Clean Harbors Inc worth?
The market values Clean Harbors Inc at about $15.4B (market capitalisation, as of Nov 3, 2026). Per share that is $288.24; our models calculate a fair value of $155.54 per share.
What do the bullish and bearish scenarios say about CLH?
Our models span a range for Clean Harbors Inc: cautious scenario $95.07, base $155.54, optimistic $194.42 per share (as of Nov 3, 2026, price $288.24). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CLH?
Clean Harbors Inc trades at a price-to-earnings ratio of 34.9 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $155.54 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings, 4 of the years ex one-offs: 31.0. Other multiples: PEG 0.3, P/B 5.6, P/S 2.5, EV/EBITDA 14.5.
What is the PEG ratio of CLH?
The PEG ratio of Clean Harbors Inc is 0.27 (P/E divided by earnings growth, as of Nov 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Clean Harbors Inc (CLH)?
Balance-sheet figures for Clean Harbors Inc (as of Nov 3, 2026): return on equity 15.6%, debt of 1.01 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is CLH from its 52-week high?
Clean Harbors Inc trades at $288.24, about 12% below its 52-week high of $326.34 and 43% above the low of $201.73 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $155.54 is for.
Which stocks are comparable to Clean Harbors Inc?
From the same area (Industrials) we also value Waste Management, Inc, Republic Services, Inc, Waste Connections, Inc, Veolia Environnement SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Clean Harbors Inc stock attractive at the current price?
The data as of Nov 3, 2026: price $288.24, calculated fair value $155.54 (−46%), Quality Score 58/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CLH calculated?
We run Clean Harbors Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $155.54, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0% above its aggregate fair value. Clean Harbors Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Clean Harbors Inc (CLH)?
The closing price on Nov 4, 2026 was $288.24. Our model-based fair value is $155.54, about 46% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Clean Harbors Inc right now?
The price sits above even our optimistic bull case ($194.42). The favourable scenario is already priced in. Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($95.07 to $194.42) leaves room in how you read the outcome.
Key figures of Clean Harbors Inc
How large is the market capitalisation of Clean Harbors Inc (CLH)?
The market capitalisation of Clean Harbors Inc is $15.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Clean Harbors Inc (CLH)?
The price-to-sales ratio of Clean Harbors Inc is 2.47 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Clean Harbors Inc (CLH)?
Earnings per share at Clean Harbors Inc are $8.25 (price ÷ EPS = P/E 34.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Clean Harbors Inc (CLH)?
The net margin of Clean Harbors Inc is 7.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Clean Harbors Inc (CLH)?
The return on equity (ROE) of Clean Harbors Inc is 15.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Clean Harbors Inc (CLH)?
On an EBIT basis the return on assets of Clean Harbors Inc is 8.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Clean Harbors Inc (CLH)?
The operating margin of Clean Harbors Inc is 15.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Clean Harbors Inc (CLH)?
Revenue at Clean Harbors Inc is growing +11.9% versus a year earlier (3y avg +5.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Clean Harbors Inc (CLH)?
Earnings per share at Clean Harbors Inc are growing +36.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Clean Harbors Inc (CLH) carry?
The net debt of Clean Harbors Inc is $2.6B (fiscal year 2025, ≈ 5.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 3, 2026