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    Clean Harbors (CLH) Stock Still Looks Undervalued After New Debt Deal

    Simply Wall St·09/17/2026 23:27:32
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    Clean Harbors has delivered a powerful run over the last few years, and the stock now changes hands at around US$315.55 after a softer recent patch. With that kind of long term gain already booked by early holders, the live question for anyone looking at Clean Harbors today is whether the current price is properly grounded in the cash flows the business can generate.

    • Clean Harbors has returned about 204.1% over 5 years, which puts a lot of expectations into the share price and makes the link back to underlying cash generation especially important.
    • The planned US$600 million senior notes issue and the US$470 million EnviroServe acquisition can reshape future cash flows by changing both the earnings base and the debt load that those cash flows need to service.
    • Prefer to judge Clean Harbors on earnings? See why Clean Harbors's 37.9x P/E tells a different valuation story.

    The issue now is whether the stock's current market value is fully supported by the intrinsic value suggested by its cash flows.

    If you are weighing Clean Harbors after that 5 year, 204.1% run, it can help to see how it stacks up beside 29 high quality undervalued stocks.

    Is Clean Harbors Still Cheap on Cash Flow?

    The Discounted Cash Flow (DCF) model here looks at the cash that Clean Harbors can return to shareholders over time and then discounts it back to today. On the latest numbers, the business is generating around $441.6 million of free cash flow over the last twelve months, with analysts and modelled estimates pointing to higher annual cash flows by the early 2030s rather than shrinking ones.

    Those projected cash flows, when discounted, suggest an intrinsic value that the DCF model indicates is substantially above the current $315.55 share price. The planned $600 million senior notes and the $470 million EnviroServe deal feed directly into this because they change the mix of future free cash flow and leverage that the model is trying to capture. Because the EnviroServe acquisition comes with its own revenue and EBITDA contribution, the market may still be weighing the extra debt against the potential uplift in cash generation. Find out what Clean Harbors could be worth using our Discounted Cash Flow (DCF) estimate.

    The Clean Harbors Narrative: What Would Justify Today's Price?

    Narratives for Clean Harbors pick up where the DCF puzzle leaves off by spelling out which future outcomes on growth, margins and earnings would need to play out for the stock to be worth materially more or less than today's price on Simply Wall St's Community page. Instead of stopping at a single output from a ratio or model, they unpack the path those numbers assume so you can monitor whether the real business is tracking that story over time.

    One of the top community narratives on Clean Harbors: 10% undervalued

    "Clean Harbors owns one of the most difficult-to-replicate infrastructure networks required to safely handle hazardous waste across North America..."

    Discover why this Narrative puts Clean Harbors at 10% undervalued.

    One more piece of the Clean Harbors puzzle

    Before acting on any view of what Clean Harbors is worth, it helps to ask who is steering the ship, how their rewards are set, and whether those incentives align with your goals. See who runs Clean Harbors and how they are paid.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.