Clean Harbors Inc Dossier
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SectorIndustrials IndustryWaste Management Beta (adjusted)0.90 Intrinsic Value $216.41median of 6 methods · middle span $186-$471based on filings through 31 Mar 2026 Market Price $312.51Price as of 1 Oct 2026 OvervaluedIntrinsic value is 31% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $16.5B Enterprise Value $18.7B Shares Outstanding 52.7M diluted Moat Rating Narrow Next Earnings Date4 Nov 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Clean Harbors entered the second half of 2026 with strong operating momentum: second-quarter revenue increased 12%, adjusted EBITDA increased 22%, adjusted EBITDA margin reached 23.6%, and management materially raised full-year guidance. Environmental Services continued to benefit from disposal demand, PFAS activity, remediation work and high incinerator utilization, while Safety-Kleen Sustainability Solutions benefited from favorable product pricing. The ten-year disposal contract and pending EnviroServe acquisition strengthen the growth runway, but they also increase execution and integration demands. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$325.00 Mean target$359.93 High · most bullish analyst$390.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $325.0020% The bear case would emerge if adjusted EBITDA or adjusted free cash flow falls below the lower ends of management's ranges. Potential causes include normalization of favorable re-refined-product pricing, weaker industrial activity, lower disposal-network utilization, acquisition integration problems, higher financing requirements or an adverse safety or environmental event. Base CaseCentral scenario $359.9355% Matches the consensus meanThe base case assumes 2026 adjusted EBITDA and adjusted free cash flow remain within management's raised ranges, Environmental Services continues to offset variability in Safety-Kleen product pricing, and the pending acquisitions close and integrate without material disruption. The strong second-quarter performance supports this outcome, although acquisition spending and commodity-sensitive re-refining economics warrant a balanced stance. Bull CaseUpside scenario $390.0025% The bull case requires results near or above the upper ends of the 2026 adjusted EBITDA and adjusted free cash flow ranges. Sustained PFAS and remediation demand, continued incineration utilization near second-quarter levels, the new ten-year disposal contract and successful integration of EnviroServe could extend Environmental Services margin expansion and support durable cash generation. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |