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Clean Harbors Inc Financials

CLH
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Clean Harbors Inc (CLH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 49 / 100
Financial Profile 49/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
47

Clean Harbors Inc has an operating margin of 11.2%, meaning the company retains $11 of operating profit per $100 of revenue. This results in a moderate score of 47/100, indicating healthy but not exceptional operating efficiency. This is down from 11.4% the prior year.

Growth
37

Clean Harbors Inc's revenue grew a modest 2.4% year-over-year to $6.0B. This slow but positive growth earns a score of 37/100.

Leverage
82

Clean Harbors Inc carries a low D/E ratio of 1.01, meaning only $1.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
43

Clean Harbors Inc's current ratio of 2.33 indicates adequate short-term liquidity, earning a score of 43/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
43

Clean Harbors Inc has a free cash flow margin of 7.3%, earning a moderate score of 43/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
43

Clean Harbors Inc's ROE of 14.2% shows moderate profitability relative to equity, earning a score of 43/100. This is down from 15.6% the prior year.

Altman Z-Score Safe
3.76

Clean Harbors Inc scores 3.76, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($15.7B) relative to total liabilities ($4.9B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong
7/9

Clean Harbors Inc passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
2.22x

For every $1 of reported earnings, Clean Harbors Inc generates $2.22 in operating cash flow ($866.7M OCF vs $391.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
4.7x

Clean Harbors Inc earns $4.7 in operating income for every $1 of interest expense ($673.4M vs $143.1M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$6.0B
YoY+2.4%
5Y CAGR+13.9%
10Y CAGR+6.3%

Clean Harbors Inc generated $6.0B in revenue in fiscal year 2025. This represents an increase of 2.4% from the prior year.

EBITDA
$1.1B
YoY+4.5%
5Y CAGR+15.5%
10Y CAGR+9.3%

Clean Harbors Inc's EBITDA was $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4.5% from the prior year.

Net Income
$391.0M
YoY-2.8%
5Y CAGR+23.7%
10Y CAGR+24.4%

Clean Harbors Inc reported $391.0M in net income in fiscal year 2025. This represents a decrease of 2.8% from the prior year.

EPS (Diluted)
$7.28
YoY-1.9%
5Y CAGR+24.6%
10Y CAGR+25.4%

Clean Harbors Inc earned $7.28 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$441.8M
YoY+27.9%
5Y CAGR+13.5%
10Y CAGR+12.2%

Clean Harbors Inc generated $441.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 27.9% from the prior year.

Cash & Debt
$826.3M
YoY+20.2%
5Y CAGR+9.7%
10Y CAGR+16.2%

Clean Harbors Inc held $826.3M in cash against $2.8B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
53M
YoY-1.8%
5Y CAGR-0.7%
10Y CAGR-0.8%

Clean Harbors Inc had 53M shares outstanding in fiscal year 2025. This represents a decrease of 1.8% from the prior year.

Margins & Returns

Gross Margin
31.3%
YoY+0.3pp
5Y CAGR-0.7pp
10Y CAGR+3.2pp

Clean Harbors Inc's gross margin was 31.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.3 percentage points from the prior year.

Operating Margin
11.2%
YoY-0.2pp
5Y CAGR+3.2pp
10Y CAGR+5.4pp

Clean Harbors Inc's operating margin was 11.2% in fiscal year 2025, reflecting core business profitability. This is down 0.2 percentage points from the prior year.

Net Margin
6.5%
YoY-0.4pp
5Y CAGR+2.2pp
10Y CAGR+5.1pp

Clean Harbors Inc's net profit margin was 6.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.4 percentage points from the prior year.

Return on Equity
14.2%
YoY-1.4pp
5Y CAGR+4.2pp
10Y CAGR+10.2pp

Clean Harbors Inc's ROE was 14.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.4 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$250.0M
YoY+353.1%
5Y CAGR+27.3%
10Y CAGR+13.0%

Clean Harbors Inc spent $250.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 353.1% from the prior year.

Capital Expenditures
$424.9M
YoY-1.7%
5Y CAGR+16.7%
10Y CAGR+5.1%

Clean Harbors Inc invested $424.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 1.7% from the prior year.

CLH Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $1.5B-3.2% $1.5B0.0% $1.5B+8.2% $1.4B+0.1% $1.4B-6.4% $1.5B-1.5% $1.6B+12.8% $1.4B
Cost of Revenue $1.0B-0.7% $1.0B+1.5% $1.0B+1.1% $1.0B+1.8% $1.0B-4.9% $1.1B+1.9% $1.0B+6.6% $971.1M
Gross Profit $459.0M-8.4% $500.8M-3.0% $516.4M+25.9% $410.1M-4.1% $427.6M-9.8% $473.8M-8.4% $517.2M+27.5% $405.6M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $193.9M+2.3% $189.6M+1.8% $186.2M+1.8% $182.8M+0.4% $182.0M+2.4% $177.8M-10.1% $197.9M+8.8% $181.9M
Operating Income $158.4M-17.9% $193.0M-8.2% $210.3M+88.4% $111.6M-18.5% $137.0M-28.8% $192.3M-10.8% $215.5M+71.7% $125.5M
Interest Expense -$34.2M+4.1% -$35.7M+3.8% -$37.1M-2.9% -$36.1M-5.5% -$34.2M+4.4% -$35.8M+1.8% -$36.4M-27.7% -$28.5M
Income Tax $33.4M-20.6% $42.0M-8.0% $45.7M+186.8% $15.9M-17.9% $19.4M-51.7% $40.2M-11.9% $45.6M+75.6% $26.0M
Net Income $86.6M-27.1% $118.8M-6.4% $126.9M+116.3% $58.7M-30.1% $84.0M-27.1% $115.2M-13.6% $133.3M+90.9% $69.8M
EPS (Diluted) N/A $2.21-6.4% $2.36+116.5% $1.09 N/A $2.12-13.8% $2.46+90.7% $1.29

CLH Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $7.6B+1.1% $7.5B+1.3% $7.4B+2.7% $7.2B-1.8% $7.4B+1.0% $7.3B+2.4% $7.1B+2.8% $6.9B
Current Assets $2.6B+1.5% $2.6B+5.4% $2.5B+7.1% $2.3B-5.1% $2.4B+3.4% $2.4B+5.6% $2.2B+5.9% $2.1B
Cash & Equivalents $826.3M+8.8% $759.2M+26.5% $600.2M+22.6% $489.4M-28.8% $687.2M+34.1% $512.4M+27.5% $402.0M+19.0% $337.8M
Inventory $372.1M-1.4% $377.3M-1.6% $383.4M+1.9% $376.0M-2.2% $384.7M+2.1% $376.6M+3.1% $365.4M+3.1% $354.3M
Accounts Receivable $1.0B-5.5% $1.1B-1.2% $1.1B+3.7% $1.1B+6.1% $1.0B-7.8% $1.1B+1.0% $1.1B+4.8% $1.0B
Goodwill $1.5B0.0% $1.5B-0.1% $1.5B+0.2% $1.5B0.0% $1.5B-0.5% $1.5B+0.2% $1.5B-0.4% $1.5B
Total Liabilities $4.9B+2.4% $4.8B+0.8% $4.7B+1.1% $4.7B-2.7% $4.8B+0.5% $4.8B+1.8% $4.7B+1.4% $4.6B
Current Liabilities $1.1B+6.5% $1.1B+5.5% $1.0B+3.6% $976.3M-11.5% $1.1B-1.7% $1.1B+5.7% $1.1B+4.3% $1.0B
Long-Term Debt $2.8B0.0% $2.8B-0.1% $2.8B-0.1% $2.8B-0.1% $2.8B-0.1% $2.8B-0.1% $2.8B-0.1% $2.8B
Total Equity $2.7B-1.1% $2.8B+2.3% $2.7B+5.6% $2.6B-0.1% $2.6B+1.8% $2.5B+3.5% $2.4B+5.6% $2.3B
Retained Earnings $2.8B+3.2% $2.7B+4.7% $2.6B+5.2% $2.4B+2.5% $2.4B+3.7% $2.3B+5.3% $2.2B+6.6% $2.0B

CLH Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $355.1M+17.6% $302.0M+45.2% $208.0M+12862.0% $1.6M-99.5% $303.9M+27.0% $239.2M+10.7% $216.0M+1064.7% $18.5M
Capital Expenditures $121.7M+28.9% $94.4M+4.9% $90.0M-24.2% $118.7M+90.2% $62.4M-35.5% $96.8M-28.4% $135.1M-2.0% $137.9M
Free Cash Flow $233.3M+12.4% $207.5M+75.9% $118.0M+200.8% -$117.1M-148.5% $241.5M+69.6% $142.4M+76.0% $80.9M+167.8% -$119.4M
Investing Cash Flow -$149.2M-96.7% -$75.8M+5.7% -$80.4M+33.2% -$120.3M-32.6% -$90.7M-10.3% -$82.3M+31.9% -$120.8M+80.2% -$609.9M
Financing Cash Flow -$142.8M-118.5% -$65.4M-198.3% -$21.9M+72.4% -$79.3M-151.4% -$31.5M+32.9% -$46.9M-53.8% -$30.5M-106.3% $486.0M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $133.0M+166.0% $50.0M+316.6% $12.0M-78.2% $55.0M+120.3% $25.0M+24.8% $20.0M+283.5% $5.2M+4.3% $5.0M

CLH Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 30.6%-1.7pp 32.3%-1.0pp 33.3%+4.7pp 28.6%-1.2pp 29.9%-1.1pp 31.0%-2.3pp 33.3%+3.9pp 29.5%
Operating Margin 10.6%-1.9pp 12.5%-1.1pp 13.6%+5.8pp 7.8%-1.8pp 9.6%-3.0pp 12.6%-1.3pp 13.9%+4.8pp 9.1%
Net Margin 5.8%-1.9pp 7.7%-0.5pp 8.2%+4.1pp 4.1%-1.8pp 5.9%-1.7pp 7.5%-1.0pp 8.6%+3.5pp 5.1%
Return on Equity 3.1%-1.1pp 4.3%-0.4pp 4.7%+2.4pp 2.3%-1.0pp 3.3%-1.3pp 4.6%-0.9pp 5.5%+2.4pp 3.0%
Return on Assets 1.1%-0.4pp 1.6%-0.1pp 1.7%+0.9pp 0.8%-0.3pp 1.1%-0.4pp 1.6%-0.3pp 1.9%+0.9pp 1.0%
Current Ratio 2.33-0.1 2.440.0 2.45+0.1 2.37+0.2 2.21+0.1 2.100.0 2.10+0.0 2.07
Debt-to-Equity 1.01+0.0 1.00-0.0 1.02-0.1 1.080.0 1.08-0.0 1.10-0.0 1.14-0.1 1.20
FCF Margin 15.6%+2.2pp 13.4%+5.8pp 7.6%+15.8pp -8.2%-25.1pp 16.9%+7.6pp 9.3%+4.1pp 5.2%+13.9pp -8.7%

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Frequently Asked Questions

Clean Harbors Inc (CLH) reported $6.0B in total revenue for fiscal year 2025. This represents a 2.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Clean Harbors Inc (CLH) revenue grew by 2.4% year-over-year, from $5.9B to $6.0B in fiscal year 2025.

Yes, Clean Harbors Inc (CLH) reported a net income of $391.0M in fiscal year 2025, with a net profit margin of 6.5%.

Clean Harbors Inc (CLH) reported diluted earnings per share of $7.28 for fiscal year 2025. This represents a -1.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Clean Harbors Inc (CLH) had EBITDA of $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Clean Harbors Inc (CLH) had $826.3M in cash and equivalents against $2.8B in long-term debt.

Clean Harbors Inc (CLH) had a gross margin of 31.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Clean Harbors Inc (CLH) had an operating margin of 11.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Clean Harbors Inc (CLH) had a net profit margin of 6.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Clean Harbors Inc (CLH) has a return on equity of 14.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Clean Harbors Inc (CLH) generated $441.8M in free cash flow during fiscal year 2025. This represents a 27.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Clean Harbors Inc (CLH) generated $866.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Clean Harbors Inc (CLH) had $7.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Clean Harbors Inc (CLH) invested $424.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Clean Harbors Inc (CLH) spent $250.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Clean Harbors Inc (CLH) had 53M shares outstanding as of fiscal year 2025.

Clean Harbors Inc (CLH) had a current ratio of 2.33 as of fiscal year 2025, which is generally considered healthy.

Clean Harbors Inc (CLH) had a debt-to-equity ratio of 1.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Clean Harbors Inc (CLH) had a return on assets of 5.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Clean Harbors Inc (CLH) has an Altman Z-Score of 3.76, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Clean Harbors Inc (CLH) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Clean Harbors Inc (CLH) has an earnings quality ratio of 2.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Clean Harbors Inc (CLH) has an interest coverage ratio of 4.7x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Clean Harbors Inc (CLH) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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