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Forensic Analysis · General / Diversified · as of Nov 9, 2026

Clean Harbors Inc (CLH)

A forensic read on Clean Harbors Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality, modest growth
Forensic grade
Safe
Financial health
3.7
Distress distance
Clean
Earnings quality
1
Forensic signals
14.7%
ROE
2.4%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Clean Harbors Inc earns an A (High-quality, modest growth) forensic quality grade, and its balance-sheet distress test reads 3.7, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

8.8%
FY2025
Return on invested capital. Return on invested capital is 8.8% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.8-point range. After-tax operating profit was $460M in FY2023 and $499M in FY2025, with operating income at 11.3% of revenue in FY2023, 11.4% in FY2024 and 11.2% in FY2025. The capital base behind it grew +15% across FY2023–FY2025, from $4.9B to $5.6B, while the return fell 0.6 points, so the dollars added over that window earned less than the 9.4% the older base was already earning.

Key fundamentals

Latest Revenue$6.03B
Revenue Growth YoY+2.4%
Revenue CAGR (2yr)+5.6%
Net Margin6.5%
Free Cash Flow$441.8M
Return on Equity14.7%
Debt / Equity1.01x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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