Clean Harbors vs Rollins
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The short version
- Clean Harbors is the larger business, with $6.0B of revenue in fiscal 2025 against $3.8B for Rollins, about 1.6 times as much.
- Rollins grew revenue faster (11.0%, against 2.4%).
- Rollins kept more of each dollar of sales as operating profit (19.3% operating margin, against 11.2%).
- Rollins turned more of its sales into free cash flow (17.3% FCF margin, against 7.3%).
- Rollins earned a higher return on the capital invested in it (31.0%, against 10.4%).
- Investors pay more for each dollar of Clean Harbors’s earnings: a P/E of 43.1x against 31.9x for Rollins.
| Latest fiscal year | CLH · FY25 | ROL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $16.9B | $16.7B |
| Revenue | $6.0B | $3.8B |
| Free cash flow | $442M | $650M |
| Net income | $391M | $527M |
| Growth | ||
| Revenue growth | 2.4% | 11.0% |
| 5-year growth | 13.9% | 11.7% |
| Share count change | −0.9% | −0.0% |
| Profitability | ||
| Gross margin | 31.3% | — |
| Operating margin | 11.2% | 19.3% |
| Net margin | 6.5% | 14.0% |
| FCF margin | 7.3% | 17.3% |
| Return on capital | 10.4% | 31.0% |
| Return on equity | 14.7% | 38.9% |
| Balance sheet | ||
| Net debt | $2.1B | $510M |
| Net debt / EBITDA | 1.8x | 0.6x |
| Dividends and buybacks | $250M | $545M |
| Valuation & quality | ||
| P/E | 43.1x | 31.9x |
| Piotroski F-score | 7 | 6 |
Revenue
FY16
CLH $2.8B
ROL $1.6B
FY17
CLH $2.9B
ROL $1.7B
FY18
CLH $3.3B
ROL $1.8B
FY19
CLH $3.4B
ROL $2.0B
FY20
CLH $3.1B
ROL $2.2B
FY21
CLH $3.8B
ROL $2.4B
FY22
CLH $5.2B
ROL $2.7B
FY23
CLH $5.4B
ROL $3.1B
FY24
CLH $5.9B
ROL $3.4B
FY25
CLH $6.0B
ROL $3.8B
CLH
ROL
Operating margin
FY16
CLH 2.5%
ROL —
FY17
CLH 4.3%
ROL —
FY18
CLH 5.5%
ROL —
FY19
CLH 6.7%
ROL 15.8%
FY20
CLH 8.0%
ROL 17.4%
FY21
CLH 9.1%
ROL 18.5%
FY22
CLH 12.3%
ROL 18.3%
FY23
CLH 11.3%
ROL 19.0%
FY24
CLH 11.4%
ROL 19.4%
FY25
CLH 11.2%
ROL 19.3%
CLH
ROL
Free cash flow
FY16
CLH $40.2M
ROL $193M
FY17
CLH $119M
ROL $211M
FY18
CLH $180M
ROL $272M
FY19
CLH $197M
ROL $292M
FY20
CLH $234M
ROL $413M
FY21
CLH $304M
ROL $375M
FY22
CLH $281M
ROL $435M
FY23
CLH $312M
ROL $496M
FY24
CLH $346M
ROL $580M
FY25
CLH $442M
ROL $650M
CLH
ROL
Return on capital
FY16
CLH 1.5%
ROL 41.1%
FY17
CLH 5.3%
ROL 36.8%
FY18
CLH 5.2%
ROL 40.5%
FY19
CLH 6.2%
ROL 30.4%
FY20
CLH 8.0%
ROL 26.4%
FY21
CLH 8.8%
ROL 29.7%
FY22
CLH 13.0%
ROL 30.5%
FY23
CLH 11.5%
ROL 31.3%
FY24
CLH 11.4%
ROL 30.6%
FY25
CLH 10.4%
ROL 31.0%
CLH
ROL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.