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Side-by-side financial comparison of CLEAN HARBORS INC (CLH) and MSCI Inc. (MSCI). Click either name above to swap in a different company.
CLEAN HARBORS INC is the larger business by last-quarter revenue ($1.5B vs $822.5M, roughly 1.8× MSCI Inc.). MSCI Inc. runs the higher net margin — 34.6% vs 5.8%, a 28.8% gap on every dollar of revenue. On growth, MSCI Inc. posted the faster year-over-year revenue change (10.6% vs 4.8%). MSCI Inc. produced more free cash flow last quarter ($488.7M vs $233.3M). Over the past eight quarters, MSCI Inc.'s revenue compounded faster (10.0% CAGR vs 4.4%).
Clean Harbors, Inc., headquartered in Norwell, Massachusetts, is a provider of waste management and industrial services for commercial customers, specializing in the collection, transportation, treatment and disposal of hazardous waste, but also offering services for non-hazardous waste. The company has 870 operating locations in 630 properties in the U.S. and Canada including a network of over 100 waste disposal facilities such as incinerators, landfills, treatment, storage and disposal faci...
MSCI Inc. is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.
CLH vs MSCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $822.5M |
| Net Profit | $86.6M | $284.7M |
| Gross Margin | 30.6% | — |
| Operating Margin | 10.6% | 56.4% |
| Net Margin | 5.8% | 34.6% |
| Revenue YoY | 4.8% | 10.6% |
| Net Profit YoY | 3.1% | -6.8% |
| EPS (diluted) | $1.62 | $3.81 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.5B | $822.5M | ||
| Q3 25 | $1.5B | $793.4M | ||
| Q2 25 | $1.5B | $772.7M | ||
| Q1 25 | $1.4B | $745.8M | ||
| Q4 24 | $1.4B | $743.5M | ||
| Q3 24 | $1.5B | $724.7M | ||
| Q2 24 | $1.6B | $707.9M | ||
| Q1 24 | $1.4B | $680.0M |
| Q4 25 | $86.6M | $284.7M | ||
| Q3 25 | $118.8M | $325.4M | ||
| Q2 25 | $126.9M | $303.6M | ||
| Q1 25 | $58.7M | $288.6M | ||
| Q4 24 | $84.0M | $305.5M | ||
| Q3 24 | $115.2M | $280.9M | ||
| Q2 24 | $133.3M | $266.8M | ||
| Q1 24 | $69.8M | $256.0M |
| Q4 25 | 30.6% | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 33.3% | — | ||
| Q1 25 | 28.6% | — | ||
| Q4 24 | 29.9% | — | ||
| Q3 24 | 31.0% | — | ||
| Q2 24 | 33.3% | — | ||
| Q1 24 | 29.5% | — |
| Q4 25 | 10.6% | 56.4% | ||
| Q3 25 | 12.5% | 56.4% | ||
| Q2 25 | 13.6% | 55.0% | ||
| Q1 25 | 7.8% | 50.6% | ||
| Q4 24 | 9.6% | 54.5% | ||
| Q3 24 | 12.6% | 55.4% | ||
| Q2 24 | 13.9% | 54.0% | ||
| Q1 24 | 9.1% | 49.9% |
| Q4 25 | 5.8% | 34.6% | ||
| Q3 25 | 7.7% | 41.0% | ||
| Q2 25 | 8.2% | 39.3% | ||
| Q1 25 | 4.1% | 38.7% | ||
| Q4 24 | 5.9% | 41.1% | ||
| Q3 24 | 7.5% | 38.8% | ||
| Q2 24 | 8.6% | 37.7% | ||
| Q1 24 | 5.1% | 37.6% |
| Q4 25 | $1.62 | $3.81 | ||
| Q3 25 | $2.21 | $4.25 | ||
| Q2 25 | $2.36 | $3.92 | ||
| Q1 25 | $1.09 | $3.71 | ||
| Q4 24 | $1.55 | $3.89 | ||
| Q3 24 | $2.12 | $3.57 | ||
| Q2 24 | $2.46 | $3.37 | ||
| Q1 24 | $1.29 | $3.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $127.4M | $515.3M |
| Total DebtLower is stronger | — | $6.2B |
| Stockholders' EquityBook value | $2.7B | $-2.7B |
| Total Assets | $7.6B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $127.4M | $515.3M | ||
| Q3 25 | $91.2M | $400.1M | ||
| Q2 25 | $98.9M | $347.3M | ||
| Q1 25 | $105.9M | $360.7M | ||
| Q4 24 | $102.6M | $409.4M | ||
| Q3 24 | $82.4M | $501.0M | ||
| Q2 24 | $91.3M | $451.4M | ||
| Q1 24 | $104.8M | $519.3M |
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.5B |
| Q4 25 | $2.7B | $-2.7B | ||
| Q3 25 | $2.8B | $-1.9B | ||
| Q2 25 | $2.7B | $-886.2M | ||
| Q1 25 | $2.6B | $-958.6M | ||
| Q4 24 | $2.6B | $-940.0M | ||
| Q3 24 | $2.5B | $-751.0M | ||
| Q2 24 | $2.4B | $-734.5M | ||
| Q1 24 | $2.3B | $-650.5M |
| Q4 25 | $7.6B | $5.7B | ||
| Q3 25 | $7.5B | $5.4B | ||
| Q2 25 | $7.4B | $5.4B | ||
| Q1 25 | $7.2B | $5.3B | ||
| Q4 24 | $7.4B | $5.4B | ||
| Q3 24 | $7.3B | $5.4B | ||
| Q2 24 | $7.1B | $5.5B | ||
| Q1 24 | $6.9B | $5.5B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $355.1M | $501.1M |
| Free Cash FlowOCF − Capex | $233.3M | $488.7M |
| FCF MarginFCF / Revenue | 15.6% | 59.4% |
| Capex IntensityCapex / Revenue | 8.1% | 1.5% |
| Cash ConversionOCF / Net Profit | 4.10× | 1.76× |
| TTM Free Cash FlowTrailing 4 quarters | $441.8M | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.1M | $501.1M | ||
| Q3 25 | $302.0M | $449.4M | ||
| Q2 25 | $208.0M | $336.1M | ||
| Q1 25 | $1.6M | $301.7M | ||
| Q4 24 | $303.9M | $430.6M | ||
| Q3 24 | $239.2M | $421.6M | ||
| Q2 24 | $216.0M | $349.2M | ||
| Q1 24 | $18.5M | $300.1M |
| Q4 25 | $233.3M | $488.7M | ||
| Q3 25 | $207.5M | $445.5M | ||
| Q2 25 | $118.0M | $324.7M | ||
| Q1 25 | $-117.1M | $290.2M | ||
| Q4 24 | $241.5M | $416.4M | ||
| Q3 24 | $142.4M | $415.0M | ||
| Q2 24 | $80.9M | $340.6M | ||
| Q1 24 | $-119.4M | $295.9M |
| Q4 25 | 15.6% | 59.4% | ||
| Q3 25 | 13.4% | 56.2% | ||
| Q2 25 | 7.6% | 42.0% | ||
| Q1 25 | -8.2% | 38.9% | ||
| Q4 24 | 16.9% | 56.0% | ||
| Q3 24 | 9.3% | 57.3% | ||
| Q2 24 | 5.2% | 48.1% | ||
| Q1 24 | -8.7% | 43.5% |
| Q4 25 | 8.1% | 1.5% | ||
| Q3 25 | 6.1% | 0.5% | ||
| Q2 25 | 5.8% | 1.5% | ||
| Q1 25 | 8.3% | 1.5% | ||
| Q4 24 | 4.4% | 1.9% | ||
| Q3 24 | 6.3% | 0.9% | ||
| Q2 24 | 8.7% | 1.2% | ||
| Q1 24 | 10.0% | 0.6% |
| Q4 25 | 4.10× | 1.76× | ||
| Q3 25 | 2.54× | 1.38× | ||
| Q2 25 | 1.64× | 1.11× | ||
| Q1 25 | 0.03× | 1.05× | ||
| Q4 24 | 3.62× | 1.41× | ||
| Q3 24 | 2.08× | 1.50× | ||
| Q2 24 | 1.62× | 1.31× | ||
| Q1 24 | 0.27× | 1.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLH
| Technical Services | $479.3M | 32% |
| Safetly Kleen Environmental Services | $252.9M | 17% |
| Fieldand Emergency Response | $246.6M | 16% |
| Products | $205.3M | 14% |
| Safety Kleen Sustainability Solutions Segment | $188.4M | 13% |
| Safety Kleen Oil | $132.6M | 9% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
