Positioning no disclosures inside 60 days, left as found
Options put/call open interest 4.02, read 2026-10-29
Ethical does not pass the values gate
Price302.12 USD
Fair value284.11
Ethical score70.0/100
Our investment reviews on this name
2026-10-21Read Accumulation319.78-5.5% to today Markdown gives way to Accumulation with results news in the headlines
2026-10-02Read Markdown311.43-3.0% to today ✓Markup gives way to Markdown
2026-07-25Read Markup310.58-2.7% to today Distribution gives way to Markup after an 8% rise in 3 weeks
2026-07-02Read Distribution287.78+5.0% to today First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Clean Harbors Inc holds its Markdown at $302.12. Consolidating, no directional conviction, held for 6 days.
As held on the ledger · 2026-10-30
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 6 days
Price at the screen
$302.12
Valuation
38.64 trailing · 31.37 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.88
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
39.82%
Below 33%
Interest-bearing debt is 39.8% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
1.67%
Below 33%
Cash held in interest-bearing accounts and securities is 1.7% of assets, under the one-third limit.
Pass
Receivables
24.53%
Below 49%
Money owed to the company is 24.5% of assets, under the 49% limit.
Pass
Revenue purity
0.43%
Below 5%
Only 0.4% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Clean Harbors's business is in a permissible area, but its interest-bearing debt is about 40% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-01. It updates when the underlying figures move, and past reads are kept below.
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Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. The price runs 6.0% above the base estimate.
Third-party analyst targets: 15 covering, consensus Strong Buy. The average target sits +21% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Where our models see it going: fair-value estimate $284.11, with a range of $284.11 to $326.72, dated to the 2026-10-30 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Cleanup Business Priced for Faster Growth
Picture every factory spill and oil change across North America eventually needing a truck and a permit. Clean Harbors handles that flow, yet the shares sit 16 percent above our fair value with revenue barely rising 2 percent a year. A 32 times forward earnings multiple on a narrow-moat business that earns a 7 percent profit margin leaves little room for the modest returns on equity the company actually delivers.
We pass for the simple reason that the price already bakes in optimism the numbers do not support. Growth is tepid, the moat is narrow, and the valuation offers no margin of safety despite an ethical screen that clears.
The main risk is that any slowdown in industrial activity quickly hits volumes while the high multiple leaves scant cushion if margins slip. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CLH trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Accumulation$318.76+0.0%Entry 15
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Accumulation$318.76+0.0%Entry 14
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Accumulation$318.76+0.0%Entry 13
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Accumulation$318.76+0.0%Entry 12
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Accumulation$318.76-0.3%Entry 11
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Accumulation$319.78+0.0%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Accumulation$319.78+0.0%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Markdown$316.93+1.8%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326.
2026-10-02Markdown · changed$311.43-2.8%Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (14 analysts) rates it buy, with a mean price target of $326.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
