Clean Harbors Stock Beneish M Score

CLH Stock  USD 201.31  0.74  0.37%   
This module uses fundamental data of Clean Harbors to approximate the value of its Beneish M Score. Clean Harbors M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Check out Clean Harbors Piotroski F Score and Clean Harbors Altman Z Score analysis.
For more detail on how to invest in Clean Stock please use our How to Invest in Clean Harbors guide.
  
As of now, Clean Harbors' Long Term Debt is increasing as compared to previous years. The Clean Harbors' current Long Term Debt To Capitalization is estimated to increase to 0.59, while Long Term Debt Total is projected to decrease to under 1.6 B. As of now, Clean Harbors' Operating Cash Flow Per Share is increasing as compared to previous years. The Clean Harbors' current Dividend Payout Ratio is estimated to increase to 10.25, while Short Term Coverage Ratios is projected to decrease to 10.50.
At this time, Clean Harbors' M Score is unavailable. The earnings manipulation may begin if Clean Harbors' top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Clean Harbors executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Clean Harbors' earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-2.67
Beneish M Score - Unavailable
Elasticity of Receivables

1.0

Focus
Asset Quality

0.98

Focus
Expense Coverage

1.0

Focus
Gross Margin Strengs

0.75

Focus
Accruals Factor

1.0

Focus
Depreciation Resistance

1.0

Focus
Net Sales Growth

1.05

Focus
Financial Leverage Condition

1.0

Focus

Clean Harbors Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Clean Harbors' auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Net Receivables1.1 B1.1 B
Sufficiently Up
Slightly volatile
Total Revenue5.7 B5.4 B
Sufficiently Up
Slightly volatile
Total Assets6.7 B6.4 B
Sufficiently Up
Slightly volatile
Total Current Assets2.2 B2.1 B
Sufficiently Up
Slightly volatile
Non Current Assets Total4.5 B4.3 B
Sufficiently Up
Slightly volatile
Property Plant Equipment2.6 B2.5 B
Sufficiently Up
Slightly volatile
Depreciation And Amortization384 M365.8 M
Sufficiently Up
Slightly volatile
Selling General Administrative704.7 M671.2 M
Sufficiently Up
Slightly volatile
Total Current Liabilities1.1 BB
Sufficiently Up
Slightly volatile
Non Current Liabilities Total3.3 B3.1 B
Sufficiently Up
Slightly volatile
Net Debt2.1 BB
Sufficiently Up
Slightly volatile
Short Term Debt69.8 M66.4 M
Sufficiently Up
Pretty Stable
Long Term Debt2.4 B2.3 B
Sufficiently Up
Slightly volatile
Operating Income643.1 M612.4 M
Sufficiently Up
Slightly volatile
Long Term Investments4.3 M4.9 M
Fairly Down
Slightly volatile
Gross Profit Margin0.230.3074
Way Down
Pretty Stable

Clean Harbors Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Clean Harbors' different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Clean Harbors in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Clean Harbors' degree of accounting gimmicks and manipulations.

About Clean Harbors Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Other Operating Expenses

5.04 Billion

As of now, Clean Harbors' Other Operating Expenses is increasing as compared to previous years.

Clean Harbors Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Clean Harbors. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201920202021202220232024 (projected)
Net Receivables701.1M667.2M887.7M1.1B1.1B1.1B
Total Revenue3.4B3.1B3.8B5.2B5.4B5.7B
Total Assets4.1B4.1B5.7B6.1B6.4B6.7B
Total Current Assets1.4B1.5B1.7B2.0B2.1B2.2B
Net Debt1.4B1.2B2.2B2.1B2.0B2.1B
Short Term Debt48.5M44.3M65.1M59.5M66.4M69.8M
Long Term Debt1.6B1.5B2.5B2.4B2.3B2.4B
Operating Income229.5M251.3M347.9M634.7M612.4M643.1M
Investments15.4M(9.7M)(30.8M)18.8M(554.1M)(526.3M)

About Clean Harbors Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Clean Harbors's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Clean Harbors using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Clean Harbors based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Clean Harbors, Inc. provides environmental and industrial services in North America. Clean Harbors, Inc. was incorporated in 1980 and is headquartered in Norwell, Massachusetts. Clean Harbors operates under Waste Management classification in the United States and is traded on New York Stock Exchange. It employs 18300 people.

Clean Harbors Investors Sentiment

The influence of Clean Harbors' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Clean. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Clean Harbors' public news can be used to forecast risks associated with an investment in Clean. The trend in average sentiment can be used to explain how an investor holding Clean can time the market purely based on public headlines and social activities around Clean Harbors. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Clean Harbors' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Clean Harbors' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Clean Harbors' news discussions. The higher the estimated score, the more favorable is the investor's outlook on Clean Harbors.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Clean Harbors in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Clean Harbors' short interest history, or implied volatility extrapolated from Clean Harbors options trading.

Pair Trading with Clean Harbors

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Clean Harbors position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Clean Harbors will appreciate offsetting losses from the drop in the long position's value.

Moving together with Clean Stock

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  0.9WM Waste Management Financial Report 24th of April 2024 PairCorr

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The ability to find closely correlated positions to Clean Harbors could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Clean Harbors when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Clean Harbors - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Clean Harbors to buy it.
The correlation of Clean Harbors is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Clean Harbors moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Clean Harbors moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Clean Harbors can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Clean Harbors offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Clean Harbors' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Clean Harbors Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Clean Harbors Stock:
Check out Clean Harbors Piotroski F Score and Clean Harbors Altman Z Score analysis.
For more detail on how to invest in Clean Stock please use our How to Invest in Clean Harbors guide.
You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.

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Is Clean Harbors' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Clean Harbors. If investors know Clean will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Clean Harbors listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
0.194
Earnings Share
6.95
Revenue Per Share
100.038
Quarterly Revenue Growth
0.047
Return On Assets
0.0612
The market value of Clean Harbors is measured differently than its book value, which is the value of Clean that is recorded on the company's balance sheet. Investors also form their own opinion of Clean Harbors' value that differs from its market value or its book value, called intrinsic value, which is Clean Harbors' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Clean Harbors' market value can be influenced by many factors that don't directly affect Clean Harbors' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Clean Harbors' value and its price as these two are different measures arrived at by different means. Investors typically determine if Clean Harbors is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Clean Harbors' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.