Clean Harbors, Inc. (CLH) vs GFL Environmental Inc. (GFL)

Clean Harbors, Inc. and GFL Environmental Inc. are both Waste Management companies. Clean Harbors, Inc. and GFL Environmental Inc. are of similar size ($18.2B and $16.7B). GFL Environmental Inc. has negative trailing earnings, so its P/E is not meaningful; Clean Harbors, Inc. trades at 37.8×. Clean Harbors, Inc. grew revenue faster over the last twelve months: 5.07% against −2.93%. Clean Harbors, Inc. has the higher net margin (7.03% vs −1.75%) and the higher return on invested capital (8.91% vs 2.00%). Across the 21 metrics below, Clean Harbors, Inc. leads on 19 and GFL Environmental Inc. on 2.

Valuation

Metric CLH GFL Waste Management median
P/E 37.81 n/m 33.79
P/S 2.65 3.03 2.85
P/B 5.64 2.80 2.54
Price to free cash flow 34.51 78.95 24.52
EV/EBITDA 15.47 15.92 15.16
EV/Sales 3.01 4.46 4.12
Earnings yield 2.65% (1.25%) 0.06%
Free cash flow yield 2.90% 1.27% 0.00%

Profitability

Metric CLH GFL Waste Management median
Gross margin 32.26% 19.96% 31.60%
Operating margin 11.84% 7.99% 0.50%
Net margin 7.03% (1.75%) 0.00%
Free cash flow margin 7.67% 3.84% 0.00%
Return on equity 15.56% (1.58%) 0.00%
Return on assets 5.75% (0.61%) 0.00%
Return on invested capital 8.91% 2.00% 0.00%

Growth

Metric CLH GFL Waste Management median
Revenue growth (TTM) 5.07% (2.93%) 5.74%
EPS growth (last fiscal year) (1.89%) 573.51% —
Revenue growth, 5-year CAGR 13.91% 8.61% 12.80%
Net income growth, 5-year CAGR 23.73% 0.00% 0.00%

Health

Metric CLH GFL Waste Management median
Debt to equity 0.95 1.34 0.88
Current ratio 2.13 0.75 1.32
Net debt to EBITDA 1.60 4.10 2.03

Dividend

Metric CLH GFL Waste Management median
Dividend yield — 0.13% 1.17%
Payout ratio 0.00 — 0.00

Size

Metric CLH GFL Waste Management median
Market cap 16.68b 18.22b 103.93m

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