Clean Harbors, Inc. research snapshot
CLH AI stock analysis currently views Clean Harbors as a durable North American environmental and industrial-services company with permitted disposal assets, emergency-response capability, and a used-oil recycling platform. After a record second quarter reported on July 29, 2026, the company raised its 2026 adjusted EBITDA and adjusted free cash flow guidance. The August 2, 2026 reference price of $312.88 values that quality at about 37.9x trailing earnings and 31.3x forward earnings. The CLH AI stock forecast is therefore scenario-based, not a price promise: upside needs continued Environmental Services volume and pricing, stronger Safety-Kleen Sustainability Solutions margins, successful ES&H integration, and delivery on the raised 2026 cash-flow guidance, while downside can follow multiple compression, weaker industrial activity, lower base-oil pricing, or environmental-liability and integration surprises.
Current price
$312.88
Market cap
$16.52 billion verified market cap
AI score
67 / 100
Rating
Durable environmental-services franchise with record momentum, raised guidance, and a premium valuation
Trend status
Constructive uptrend holding above the 50-day and 200-day moving averages
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Clean Harbors earns from hazardous-waste collection, transport, treatment and disposal, emergency response, industrial services, parts cleaning, and used-oil collection and re-refining through Safety-Kleen. Q2 2026 revenue rose 12% to a record $1.735 billion. | High |
| Moat | Permitted disposal and incineration capacity, compliance expertise, national service coverage, customer safety needs, emergency-response capability, and the Safety-Kleen collection network create meaningful barriers, although regional competitors and project mix still matter. | High |
| Management | Co-CEOs Eric Gerstenberg and Mike Battles are executing on pricing, efficiency, organic investment, a $305 million ES&H acquisition, a ten-year disposal contract, debt management, and buybacks. The test is whether capital deployment earns durable returns above the cost of capital as growth spending rises. | Medium-high |
| Financial trend | FY2025 revenue rose 2.4% to $6.031 billion while GAAP net income was $391.0 million. Q2 2026 revenue reached a record $1.735 billion, net income rose 34% to $170.5 million, and adjusted EBITDA grew 22% to $409.0 million. | High |
| Valuation | At $312.88, CLH screened near 37.9x trailing earnings, 31.3x forward earnings, 2.65x sales, 5.64x book value, 35.8x free cash flow, and 16.11x EV to EBITDA at the data cutoff. | High |
| Technical trend | The August reference was above the 50-day moving average near $295.43 and 200-day average near $271.05, within a 52-week range of $201.34 to $335.94. RSI near 57.53 is modestly constructive rather than overbought. | Medium-high |
| Risk level | Key risks are premium-multiple compression, Safety-Kleen spread reversal, industrial-services softness, base-oil and waste-oil volatility, ES&H integration, environmental and remediation liabilities, leverage, interest expense, regulation, and project timing. | Medium-high |
| AI confidence | Historical-data confidence is high because company, SEC, Macrotrends, and StockAnalysis data align. Forecast confidence is lower because the market price is sensitive to future cash conversion and valuation assumptions. | High data confidence |
| Investment certainty | CLH is a high-quality infrastructure-like services business with improving momentum, but investment certainty is medium because the current multiple still requires continued execution and leaves a modest margin of safety. | Medium |
CLH AI stock forecast
The CLH AI stock forecast uses the $312.88 reference price, the $8.85 consensus 2026E adjusted EPS, and a three-year scenario model. Pineify financial_rigor.py calculated roughly $404 in the bullish case, $268 in the base case, and $160 in the bearish case before any value from potential future capital returns. These are assumption-driven valuation ranges, not targets or recommendations.
$395 to $415
More likely if Environmental Services keeps gaining disposal, recycling, remediation, and PFAS-related work, Safety-Kleen Sustainability Solutions holds elevated re-refined product pricing, ES&H adds Field Services revenue and synergies, adjusted EBITDA reaches or exceeds the $1.35 billion to $1.41 billion 2026 range, and the market retains a high-20s to low-30s forward earnings multiple.
$255 to $285
More likely if earnings grow in line with consensus, about $8.85 adjusted EPS in 2026, but investors value Clean Harbors closer to a mid-20s forward earnings multiple as growth normalizes, capital spending and acquisition costs stay elevated, and integration absorbs management attention.
$145 to $175
More likely if industrial demand weakens, Safety-Kleen base-oil and re-refined product economics reverse, ES&H or growth projects fail to deliver expected returns, environmental costs rise, free cash flow misses guidance, and the market re-rates CLH toward a high-teens forward earnings multiple.
CLH AI technical analysis
CLH AI technical analysis is constructive as of the August 2, 2026 cutoff. StockAnalysis listed a $312.88 reference price, a 50-day moving average of $295.43, a 200-day moving average of $271.05, RSI of 57.53, and 20-day average volume of about 483,971 shares, within a 52-week range of $201.34 to $335.94. The practical question is whether CLH can build on its post-earnings strength while cash-flow execution supports the valuation.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $312.88 | Market-data reference used for valuation and market-cap checks at the August 2, 2026 cutoff, based on the July 31, 2026 close. |
| Immediate support | $292 to $297 | This area brackets the 50-day moving average near $295.43 and is the first short-term trend test. |
| Deeper support | $268 to $274 | This zone brackets the 200-day moving average near $271.05 and would represent a larger trend reset. |
| Near resistance | $318 to $325 | A sustained move through this band would need volume and fundamental follow-through to extend the post-earnings advance. |
| Strong resistance | $335 to $340 | This area brackets the 52-week high of $335.94 and is the key level for confirming a breakout. |
| Momentum | RSI near 57.53 | The reading is modestly constructive, so it does not by itself signal either an exhausted advance or a deeply oversold reset. |
| Volume | 20-day average near 483,971 shares | Breakouts and failures are more informative when volume expands relative to this reference. |
| Volatility | Watch Q3 results, 2026 adjusted EBITDA and adjusted free cash flow execution, base-oil pricing, ES&H integration, and industrial activity | Those inputs can quickly alter the narrative behind a premium earnings multiple. |
| Invalidation | Close below $292, then below $271 for the major trend | A break below the 50-day area weakens the near-term setup. A sustained break near the 200-day area challenges the broader uptrend framework. |
CLH AI trading strategy
The CLH AI trading strategy below is a research framework, not personal investment advice. It combines technical behavior with disposal volumes, pricing, Safety-Kleen economics, adjusted EBITDA, free cash flow, debt, environmental liabilities, acquisition integration, and valuation discipline.
Watch for CLH to hold or reclaim the $292 to $297 50-day zone while quarterly results confirm Environmental Services pricing and volume, Safety-Kleen profitability, and delivery on the raised 2026 adjusted EBITDA and adjusted free cash flow guidance.
A close below $292, especially alongside weaker industrial demand, base-oil pricing, cash-flow guidance, or ES&H integration problems, reduces trend confidence. Treat a deeper break below the $271 area as a reassessment signal rather than a routine dip.
If CLH retreats toward the $255 to $285 base-case range without deterioration in disposal demand, permits, pricing, operating cash flow, or balance-sheet capacity, compare the lower valuation with the durability of the service network and regulated asset base.
Do not assume a lower price is attractive if the move is paired with environmental liabilities, acquisition integration problems, rising leverage, weak Safety-Kleen economics, or a material reduction in cash-flow guidance.
Track Environmental Services revenue and adjusted EBITDA margin, Technical Services and Field Services activity, incinerator utilization, the ten-year disposal contract ramp, ES&H integration, Safety-Kleen waste-oil collection and base-oil pricing, capex, operating cash flow, adjusted free cash flow, debt, and share repurchases.
Position sizing should reflect CLH exposure to industrial cycles, regulated environmental obligations, integration and acquisition risk, and a valuation that can move sharply when expected cash generation changes.
Investment research summary
Customers pay Clean Harbors to manage hazardous waste safely and compliantly, respond when environmental incidents occur, maintain industrial facilities, and collect, recycle, and re-refine used oil. The value proposition is risk reduction, regulatory compliance, uptime, and reliable disposal or recycling capacity.
The moat rests on permitted hazardous-waste and incineration infrastructure, operational know-how, insurance and compliance capability, national coverage, customer relationships, emergency-response readiness, and the Safety-Kleen collection and re-refining network. Building equivalent permitted capacity is difficult, but the moat does not remove project, pricing, and execution risk.
The thesis can fail if industrial demand stays weak, Safety-Kleen base-oil or re-refined product economics turn unfavorable, environmental and remediation costs exceed estimates, growth capex or the ES&H acquisition earn poor returns, integration strains the balance sheet, or investors stop paying a premium multiple for growth.
Management is allocating capital to disposal and recycling capacity, the ES&H acquisition, the ten-year disposal contract, debt management, and repurchases, with about $52.1 million of stock repurchased in the first half of 2026. The discipline test is whether those uses generate durable cash returns after interest costs, remediation obligations, and maintenance and growth capital spending.
Reshoring, environmental regulation, PFAS and remediation work, industrial compliance needs, recycling, and a larger installed base of hazardous materials support long-term demand. The U.S. Manufacturing PMI was above 50 for the first six months of 2026, but industrial projects, oil-related economics, and customer activity remain cyclical.
At $312.88, the market is valuing Clean Harbors for continued acceleration and strong cash conversion. The margin of safety improves if the price resets toward a lower multiple or if results demonstrate that the raised 2026 adjusted EBITDA and adjusted free cash flow guidance can be exceeded without excessive capital intensity or leverage.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| CLH quote reference | $312.88 close on July 31, 2026 | StockAnalysis CLH statistics | August 2, 2026 |
| Market capitalization verification | $16.52 billion reported, $16.52 billion calculated from $312.88 x 52.79 million shares, a 0.02% difference | Pineify financial_rigor.py and StockAnalysis statistics | August 2, 2026 |
| Shares outstanding | 52.79 million shares outstanding | StockAnalysis CLH statistics | August 2, 2026 |
| FY2025 revenue and net income | $6.031 billion revenue and $391.0 million GAAP net income | Clean Harbors 2025 Form 10-K | August 2, 2026 |
| FY2025 revenue and net income cross-check | $6.031 billion revenue and $391.0 million net income, matching Macrotrends and StockAnalysis after rounding | Macrotrends CLH income statement | August 2, 2026 |
| Q2 2026 results and raised guidance | Revenue $1.735 billion, net income $170.5 million, diluted EPS $3.22, adjusted EBITDA $409.0 million, and raised 2026 adjusted EBITDA guidance of $1.35 billion to $1.41 billion and adjusted free cash flow of $520 million to $580 million | Clean Harbors Q2 2026 results release (8-K exhibit 99.1) | August 2, 2026 |
| Balance sheet at June 30, 2026 | $408.4 million cash, $108.4 million short-term marketable securities, $12.6 million current debt, and $2.759 billion long-term debt at June 30, 2026 | Clean Harbors Q2 2026 Form 10-Q | August 2, 2026 |
| TTM financials | TTM revenue $6.244 billion, net income $439.05 million, EPS $8.25, operating cash flow $902.55 million, and free cash flow $461.72 million | StockAnalysis CLH statistics | August 2, 2026 |
| Valuation ratios | 37.93x trailing PE, 31.28x forward PE, 2.65x sales, 5.64x book value, 35.77x price to free cash flow, and 16.11x EV to EBITDA | StockAnalysis CLH statistics | August 2, 2026 |
| Technical references | 50-day moving average $295.43, 200-day moving average $271.05, RSI 57.53, 20-day average volume 483,971 shares, and 52-week range $201.34 to $335.94 | StockAnalysis CLH statistics | August 2, 2026 |
| Analyst consensus | Buy rating with an average price target of $358.93, from 16 analysts, in a range of $315 to $390 | StockAnalysis CLH forecast | August 2, 2026 |
| Three-scenario valuation audit | Pineify financial_rigor.py model: bullish $404, base $268, bearish $160 using $8.85 consensus 2026E adjusted EPS, three-year 15%, 8%, and 2% growth cases, and 30x, 24x, and 17x target PE assumptions | Pineify financial_rigor.py scenario model | August 2, 2026 |
This CLH AI stock analysis is an informational research tool only and is not investment advice, a recommendation, or a promise of return. Forecast scenarios are based on public data available through August 2, 2026, use explicit assumptions, and may be wrong if Clean Harbors fundamentals, technical conditions, environmental liabilities, regulation, oil pricing, industrial demand, integration, or market sentiment change.
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