CLH
Clean Harbors, Inc.
$286.92
Platform & Compounding FCF
50%
Two-stage FCF DCF
Strong
·
Conviction
Overvalued
Trading 87.5% above fair value
You pay
$286.92
Bear
$104.45
Fair
$153.00
Bull
$198.60
Bear
$104.45
-63.6%
5% stage 1 growth, 11% discount
Fair
$153.00
-46.7%
8% stage 1 growth, 11% discount
Bull
$198.60
-30.8%
11% stage 1 growth, 11% discount
Key Value Driver
FCF growth rate (8% base case)
Terminal Value % of EV
37%
Implied Market Multiple
42.3x
Summary
Our base-case estimate uses a two-stage discounted cash flow model based on free cash flow. We then blend that result with the average analyst price target of $303.30 from 28 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $153.00 per share.
Warnings
Wall Street's average price target is $303.30 (from 28 analysts). Our estimate is 66% below the consensus -- consider that gap carefully.
Key Risks
- P/E alone misleads — earnings depressed by growth investment
- Cyclical or commodity businesses may be misclassified as platforms
- Terminal value dominance suggests sensitivity to long-run assumptions