CLH vs. CWST

Last updated Apr 1, 2026

Compare and contrast key facts about Clean Harbors, Inc. (CLH) and Casella Waste Systems, Inc. (CWST).

Performance

CLH vs. CWST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Clean Harbors, Inc. (CLH) and Casella Waste Systems, Inc. (CWST). The values are adjusted to include any dividend payments, if applicable.

CLH vs. CWST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLH Clean Harbors, Inc.	22.28%	1.89%	31.88%	52.92%	14.38%	31.10%	-11.25%	73.76%	-8.95%	-2.61%
CWST Casella Waste Systems, Inc.	-18.99%	-7.44%	23.81%	7.75%	-7.15%	37.89%	34.59%	61.57%	23.76%	85.50%

Fundamentals

Market Cap CLH : $15.31B CWST : $5.04B
EPS CLH : $7.29 CWST : $0.12
PE Ratio CLH : 39.33 CWST : 640.10
PS Ratio CLH : 2.55 CWST : 2.74
PB Ratio CLH : 5.57 CWST : 3.21
Total Revenue (TTM) CLH : $6.03B CWST : $1.84B
Gross Profit (TTM) CLH : $1.89B CWST : $236.68M
EBITDA (TTM) CLH : $1.06B CWST : $391.00M

Returns By Period

In the year-to-date period, CLH achieves a 22.28% return, which is significantly higher than CWST's -18.99% return. Over the past 10 years, CLH has underperformed CWST with an annualized return of 19.12%, while CWST has yielded a comparatively higher 27.85% annualized return.

CLH

• 1D: 2.49%
• 1M: -2.21%
• YTD: 22.28%
• 6M: 23.47%
• 1Y: 45.47%
• 3Y*: 26.23%
• 5Y*: 27.19%
• 10Y*: 19.12%

CWST

• 1D: 1.22%
• 1M: -14.83%
• YTD: -18.99%
• 6M: -16.38%
• 1Y: -28.85%
• 3Y*: -1.36%
• 5Y*: 4.01%
• 10Y*: 27.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CLH vs. CWST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CLH

CLH Risk / Return Rank: 85
CLH Sharpe Ratio Rank: 88
CLH Sortino Ratio Rank: 83
CLH Omega Ratio Rank: 85
CLH Calmar Ratio Rank: 81
CLH Martin Ratio Rank: 85

CWST

CWST Risk / Return Rank: 10
CWST Sharpe Ratio Rank: 6
CWST Sortino Ratio Rank: 8
CWST Omega Ratio Rank: 9
CWST Calmar Ratio Rank: 15
CWST Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLH vs. CWST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Clean Harbors, Inc. (CLH) and Casella Waste Systems, Inc. (CWST). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CLH	CWST	Difference
Sharpe ratio Return per unit of total volatility	1.69	-0.93	+2.63
Sortino ratio Return per unit of downside risk	2.24	-1.23	+3.47
Omega ratio Gain probability vs. loss probability	1.33	0.85	+0.48
Calmar ratio Return relative to maximum drawdown	2.34	-0.75	+3.09
Martin ratio Return relative to average drawdown	7.76	-1.55	+9.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLH vs. CWST - Sharpe Ratio Comparison

The current CLH Sharpe Ratio is 1.69, which is higher than the CWST Sharpe Ratio of -0.93. The chart below compares the historical Sharpe Ratios of CLH and CWST, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CLH	CWST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	-0.93	+2.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.15	+0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.91	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.09	+0.18

Correlation

The correlation between CLH and CWST is 0.24, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CLH vs. CWST - Dividend Comparison

Neither CLH nor CWST has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

CLH vs. CWST - Drawdown Comparison

The maximum CLH drawdown since its inception was -93.48%, smaller than the maximum CWST drawdown of -98.52%. Use the drawdown chart below to compare losses from any high point for CLH and CWST.

Drawdown Indicators

	CLH	CWST	Difference
Max Drawdown Largest peak-to-trough decline	-93.48%	-98.52%	+5.04%
Max Drawdown (1Y) Largest decline over 1 year	-19.45%	-37.72%	+18.27%
Max Drawdown (5Y) Largest decline over 5 years	-30.86%	-37.72%	+6.86%
Max Drawdown (10Y) Largest decline over 10 years	-64.51%	-37.72%	-26.79%
Current Drawdown Current decline from peak	-3.51%	-34.09%	+30.58%
Average Drawdown Average peak-to-trough decline	-33.06%	-53.18%	+20.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.85%	18.32%	-12.47%

Volatility

CLH vs. CWST - Volatility Comparison

The current volatility for Clean Harbors, Inc. (CLH) is 7.97%, while Casella Waste Systems, Inc. (CWST) has a volatility of 14.69%. This indicates that CLH experiences smaller price fluctuations and is considered to be less risky than CWST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLH	CWST	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.97%	14.69%	-6.72%
Volatility (6M) Calculated over the trailing 6-month period	21.41%	24.61%	-3.20%
Volatility (1Y) Calculated over the trailing 1-year period	26.98%	31.04%	-4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.40%	26.14%	+2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.65%	30.59%	+4.06%

Financials

CLH vs. CWST - Profitability Comparison

The chart below illustrates the profitability comparison between Clean Harbors, Inc. and Casella Waste Systems, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CLH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Clean Harbors, Inc. reported a gross profit of 458.97M and revenue of 1.50B. Therefore, the gross margin over that period was 30.6%.

CWST - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Casella Waste Systems, Inc. reported a gross profit of 0.00 and revenue of 469.06M. Therefore, the gross margin over that period was 0.0%.

CLH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Clean Harbors, Inc. reported an operating income of 158.45M and revenue of 1.50B, resulting in an operating margin of 10.6%.

CWST - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Casella Waste Systems, Inc. reported an operating income of -4.73M and revenue of 469.06M, resulting in an operating margin of -1.0%.

CLH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Clean Harbors, Inc. reported a net income of 86.59M and revenue of 1.50B, resulting in a net margin of 5.8%.

CWST - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Casella Waste Systems, Inc. reported a net income of -2.51M and revenue of 469.06M, resulting in a net margin of -0.5%.