| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 29 | 39.1x | 17.8x | Bottom tier | |
Growth | 31 | 5.1% | 7.1% | Bottom tier | |
Quality | 53 | 9.9% | 4.5% | Around median | |
Safety | 51 | 2.2x | 2.6x | Around median | |
Capital Return | 53 | — | 2.12% | Around median | |
Momentum | 88 | 25.0% | 2.9% | Top tier | |
Sentiment | 38 | 7 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Clean Harbors operates through two interconnected segments: Environmental Services, which includes hazardous waste treatment, disposal and recycling, field services, emergency response and industrial services; and Safety-Kleen Sustainability Solutions, which collects used oil, re-refines it and sells base oils, blends and lubricants. Its competitive strength is based on a nationwide network of incinerators, landfills, treatment facilities, branches and fleets, enabling it to manage multiple waste streams and provide integrated solutions to customers.
In Q2 fiscal 2026, revenue rose 12% to $1.74 billion, and adjusted earnings before interest, taxes, depreciation and amortization increased 22% to $409 million. The adjusted margin reached 23.6%, the highest quarterly margin in the company’s history and an increase of 190 basis points, while operating income rose 28% to $269 million and net income increased 34%, with earnings per share of $3.22. By comparison, EDGAR data for Q1 fiscal 2026 showed revenue of $1.5 billion, gross profit of $445.4 million, net income of $63.2 million and earnings per share of $1.19.
Growth came from both segments, with clearly different drivers; Technical Services revenue within Environmental Services increased 18%, Safety-Kleen Environmental Services revenue rose 11%, and Field Services revenue grew 3%. Adjusted earnings before interest, taxes, depreciation and amortization for Environmental Services increased 8%, and its margin reached 27.9%, while SKSS revenue jumped more than 40% and its adjusted earnings rose 143% due to tight supplies of base oils and blended products and higher prices resulting from global supply disruptions.
The analyst consensus rates CLH shares as “Buy,” with an average price target of $353 and a relatively wide range of $315 to $390. The average target is above the 52-week range high of $335.94, while the low target is below it, reflecting optimism about growth alongside differing views on the sustainability of the SKSS surge and the returns from new investments; the data does not include a usable price-to-earnings multiple.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Revenue rose 12% to $1.74 billion, and adjusted earnings before interest, taxes, depreciation and amortization increased 22% to $409 million. The adjusted margin reached a record 23.6%, an increase of 190 basis points, while operating income rose 28% to $269 million and earnings per share reached $3.22. Environmental Services benefited from higher utilization, volumes and projects, while SKSS benefited from tight supplies of base oils and blended products and higher prices.
The contract spans 10 years and focuses on incineration waste and complex wastewater for an industrial customer expanding its operations within the United States. The contract begins in Q4 fiscal 2026, with expected revenue of approximately $10 million during fiscal 2026, then increases by approximately $15–$20 million annually during the expansion period. Management expects an annual revenue run rate of between $80 million and $100 million upon reaching full capacity in 2030, with the potential to expand the scope and duration under the contract options.
The company offers an integrated solution encompassing eight lines of business, beginning with mechanical flushing, chemical passivation and water filtration services during the construction phase. As of July 29, 2026, it had won work at 10 sites and was bidding for approximately 12 additional sites, with expected revenue of between $15 million and $20 million in fiscal 2026. It plans to invest an additional $50 million over three years, targeting annual revenue of approximately $200 million by the end of 2028 based on the prepared presentation, with margins in the mid-to-high twenties range.
Automated analysis for informational purposes only — not investment advice.
SKSS revenue rose more than 40% and its adjusted earnings increased 143% in Q2 fiscal 2026, driven by supply disruptions in the Middle East and Asia and tight domestic product supplies. The company collected 61 million gallons of used oil, while blended gallons sold directly represented 11% of total volumes. However, management described the business as cyclical and assumed that Q3 fiscal 2026 would remain strong before base oil prices declined in Q4, making the sustainability of the current level uncertain.
Clean Harbors agreed on July 29, 2026, to acquire ES&H for $305 million in cash, with closing expected in the second half of 2026 subject to regulatory approval and customary conditions. ES&H owns thirteen branches in Louisiana and Texas and operates in Field Services and emergency response, including marine response and the Forefront service for planning, training and preparedness management. Clean Harbors expects annual revenue of approximately $90 million and adjusted earnings of approximately $30 million, in addition to cost savings of approximately $5 million after the first full year of operations.
The company targets adjusted earnings before interest, taxes, depreciation and amortization of between $1.35 billion and $1.41 billion, with a midpoint of $1.38 billion and growth of approximately 18% from fiscal 2025. It also expects adjusted free cash flow of between $520 million and $580 million, with a midpoint of $550 million, and adjusted earnings growth of between 24% and 28% during Q3 fiscal 2026. The midpoint of the guidance includes approximately $275 million from SKSS and growth of between 6% and 9% in Environmental Services, but it does not include any contribution from ES&H.
