4 models fit Clean Harbors Inc. Common Stock and they disagree: 0 of 4 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Silver65
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionClean Harbors Inc. Common Stock (CLH)
Fair value (4 models)
$161
ACCE price target
$306
Rating
Overvalued
Horizon
12 months
Fair value published on 20 Oct 2026, 16:04 CEST; previously $188 since 16 Oct 2026, 00:00 CEST.
ACCE price target published on 18 Oct 2026, 00:00 CEST; previously $325 since 19 May 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 16:04 CEST.
Price used: $319 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
98.1% above
-49.5% to fair value
ACCE score
64
out of 100
Analysts
76% buy
17 covering
P/E
38.9x
forward 34.5x
1-year return
+30.9%
Dividend yield
0.00%
Clean Harbors Inc. Common Stock in four questions
Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
Overview
ACCE thesis
Clean Harbors runs environmental services across hazardous waste incineration, treatment and disposal, field services for industrial clean-outs and emergency response, and a re-refining business that turns used oil into base oil. The moat is physical: permitted incinerators and landfills are slow and expensive to site, so the incumbent network is hard to replicate and pricing holds up through industrial cycles. Revenue is growing 11.9%, with a 32.3% gross margin and a 15.5% operating margin, and a 15.6% ROE, which is respectable for a capital-heavy operator. The stock trades at 38.5 times trailing earnings and 34.5 times forward, a premium that assumes the growth and margin profile keeps compounding. The question for a deeper look is whether that premium is earned by the cash flows coming out of the permitted asset base, and whether the re-refining and field services mix can hold margins as industrial volumes move.