# Clean Harbors, Inc (CLH) — Stock CV

Clean Harbors, Inc is a $16.7B utility company. Revenue grew 5.1% over the last year, it keeps 7¢ of every dollar of sales as profit, and its net debt equals ~5.7 years of free cash flow. It trades at 38.1× earnings — near the highest of its own history.

> Clean Harbors Inc is an environmental and industrial services provider that provides parts cleaning and related environmental services to commercial, industrial, and automotive customers. Its business segments are Environmental Services and Safety-Kleen Sustainability Solutions.

## Identity

- **Ticker**: CLH
- **Sector**: Utilities
- **Industry**: Hazardous Waste Management
- **Headquarters**: NORWELL, MA
- **Employees**: 22 591
- **Website**: https://www.cleanharbors.com
- **Market cap**: $16.7B
- **Last price**: $316.93
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $6.24B
- **Net income**: $439M
- **Free cash flow**: $462M
- **Net debt**: $2.64B
- **P/E**: 38.1
- **Revenue growth (YoY)**: 5.1%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 37 |
| Growth | 85 |
| Profitability | 50 |
| Health | 40 |
| Quality | 100 |
| Moat | 43 |

## Qualifications (beginner checklist) — 7 of 10 passed

- [x] Revenue growing — +5.1% YoY
- [x] Profitable — $439M TTM
- [ ] Profit growing — -1.2% YoY
- [x] Generates cash — $462M TTM
- [ ] Debt under control — ~5.7y of cash flow to repay
- [x] Established company — $16.7B market cap
- [x] Not printing shares — -3.5% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 35/100
- [x] Valuation not extreme — P/E 38.1

## Experience (career milestones)

- **FY2022** — Best year on record: $412M net income
- **FY2017** — Turned profitable: $101M net income after a loss year
- **FY2016** — Revenue already above $1B: $2.76B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **1987** — The company became a public company via an initial public offering
- **1984** — The company removed 130,000 gallons of fuel oil from the tanker Eldia
- **1980** — Clean Harbors was founded in 1980 in Brockton, Massachusetts, by Alan McKim as a four-person tank cleaning business

## Strengths

- Piotroski F-Score 8/9 — fundamentally strong checklist

## Watch-outs

- Loss-making in 1 of the recent years
- Net debt equals ~5.7 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.81B | $203M | $304M |
| FY2022 | $5.17B | $412M | $281M |
| FY2023 | $5.41B | $378M | $312M |
| FY2024 | $5.89B | $402M | $346M |
| FY2025 | $6.03B | $391M | $442M |

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Source: https://stockcv.com/CLH — derived from company filings; may be delayed or incomplete. Information, not investment advice.