Clean Harbors, Inc.

AI-generated fair value estimate for this company.

Method: 10-year two-stage unlevered FCF DCF: $450M normalized base FCF (between FY2024's $345.5M and FY2025's $441.8M); 8% FCF growth years 1-5, 5% years 6-10 reflecting continued environmental-services and re-refining capacity growth; 8.5% discount rate; 3% terminal growth; less $2,732M net debt; 52.79M shares outstanding.

Reasoning: Clean Harbors has compounded free cash flow at a high rate on secular hazardous-waste volume growth and its used-motor-oil re-refining network, so a two-stage DCF with above-trend near-term growth tapering to a moderate terminal rate best reflects its durable competitive position.