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Side-by-side financial comparison of CLEAN HARBORS INC (CLH) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Toast, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.5B, roughly 1.1× CLEAN HARBORS INC). Toast, Inc. runs the higher net margin — 6.2% vs 5.8%, a 0.4% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 4.8%). CLEAN HARBORS INC produced more free cash flow last quarter ($233.3M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% 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...
Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.
CLH vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $1.6B |
| Net Profit | $86.6M | $101.0M |
| Gross Margin | 30.6% | 25.9% |
| Operating Margin | 10.6% | 5.2% |
| Net Margin | 5.8% | 6.2% |
| Revenue YoY | 4.8% | 22.0% |
| Net Profit YoY | 3.1% | 215.6% |
| EPS (diluted) | $1.62 | $0.18 |
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 | $1.6B | ||
| Q3 25 | $1.5B | $1.6B | ||
| Q2 25 | $1.5B | $1.6B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.5B | $1.3B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.4B | $1.1B |
| Q4 25 | $86.6M | $101.0M | ||
| Q3 25 | $118.8M | $105.0M | ||
| Q2 25 | $126.9M | $80.0M | ||
| Q1 25 | $58.7M | $56.0M | ||
| Q4 24 | $84.0M | $32.0M | ||
| Q3 24 | $115.2M | $56.0M | ||
| Q2 24 | $133.3M | $14.0M | ||
| Q1 24 | $69.8M | $-83.0M |
| Q4 25 | 30.6% | 25.9% | ||
| Q3 25 | 32.3% | 26.5% | ||
| Q2 25 | 33.3% | 25.3% | ||
| Q1 25 | 28.6% | 25.9% | ||
| Q4 24 | 29.9% | 24.9% | ||
| Q3 24 | 31.0% | 24.7% | ||
| Q2 24 | 33.3% | 23.0% | ||
| Q1 24 | 29.5% | 23.2% |
| Q4 25 | 10.6% | 5.2% | ||
| Q3 25 | 12.5% | 5.1% | ||
| Q2 25 | 13.6% | 5.2% | ||
| Q1 25 | 7.8% | 3.2% | ||
| Q4 24 | 9.6% | 2.5% | ||
| Q3 24 | 12.6% | 2.6% | ||
| Q2 24 | 13.9% | 0.4% | ||
| Q1 24 | 9.1% | -5.2% |
| Q4 25 | 5.8% | 6.2% | ||
| Q3 25 | 7.7% | 6.4% | ||
| Q2 25 | 8.2% | 5.2% | ||
| Q1 25 | 4.1% | 4.2% | ||
| Q4 24 | 5.9% | 2.4% | ||
| Q3 24 | 7.5% | 4.3% | ||
| Q2 24 | 8.6% | 1.1% | ||
| Q1 24 | 5.1% | -7.7% |
| Q4 25 | $1.62 | $0.18 | ||
| Q3 25 | $2.21 | $0.16 | ||
| Q2 25 | $2.36 | $0.13 | ||
| Q1 25 | $1.09 | $0.09 | ||
| Q4 24 | $1.55 | $0.09 | ||
| Q3 24 | $2.12 | $0.07 | ||
| Q2 24 | $2.46 | $0.02 | ||
| Q1 24 | $1.29 | $-0.15 |
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 | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $2.1B |
| Total Assets | $7.6B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $127.4M | $1.4B | ||
| Q3 25 | $91.2M | $1.4B | ||
| Q2 25 | $98.9M | $1.2B | ||
| Q1 25 | $105.9M | $1.0B | ||
| Q4 24 | $102.6M | $903.0M | ||
| Q3 24 | $82.4M | $761.0M | ||
| Q2 24 | $91.3M | $691.0M | ||
| Q1 24 | $104.8M | $578.0M |
| Q4 25 | $2.7B | $2.1B | ||
| Q3 25 | $2.8B | $2.0B | ||
| Q2 25 | $2.7B | $1.8B | ||
| Q1 25 | $2.6B | $1.7B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.5B | $1.4B | ||
| Q2 24 | $2.4B | $1.3B | ||
| Q1 24 | $2.3B | $1.2B |
| Q4 25 | $7.6B | $3.1B | ||
| Q3 25 | $7.5B | $3.0B | ||
| Q2 25 | $7.4B | $2.8B | ||
| Q1 25 | $7.2B | $2.6B | ||
| Q4 24 | $7.4B | $2.4B | ||
| Q3 24 | $7.3B | $2.2B | ||
| Q2 24 | $7.1B | $2.2B | ||
| Q1 24 | $6.9B | $2.1B |
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 | $194.0M |
| Free Cash FlowOCF − Capex | $233.3M | $178.0M |
| FCF MarginFCF / Revenue | 15.6% | 10.9% |
| Capex IntensityCapex / Revenue | 8.1% | 1.0% |
| Cash ConversionOCF / Net Profit | 4.10× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $441.8M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.1M | $194.0M | ||
| Q3 25 | $302.0M | $165.0M | ||
| Q2 25 | $208.0M | $223.0M | ||
| Q1 25 | $1.6M | $79.0M | ||
| Q4 24 | $303.9M | $147.0M | ||
| Q3 24 | $239.2M | $109.0M | ||
| Q2 24 | $216.0M | $124.0M | ||
| Q1 24 | $18.5M | $-20.0M |
| Q4 25 | $233.3M | $178.0M | ||
| Q3 25 | $207.5M | $153.0M | ||
| Q2 25 | $118.0M | $208.0M | ||
| Q1 25 | $-117.1M | $69.0M | ||
| Q4 24 | $241.5M | $134.0M | ||
| Q3 24 | $142.4M | $97.0M | ||
| Q2 24 | $80.9M | $108.0M | ||
| Q1 24 | $-119.4M | $-33.0M |
| Q4 25 | 15.6% | 10.9% | ||
| Q3 25 | 13.4% | 9.4% | ||
| Q2 25 | 7.6% | 13.4% | ||
| Q1 25 | -8.2% | 5.2% | ||
| Q4 24 | 16.9% | 10.0% | ||
| Q3 24 | 9.3% | 7.4% | ||
| Q2 24 | 5.2% | 8.7% | ||
| Q1 24 | -8.7% | -3.1% |
| Q4 25 | 8.1% | 1.0% | ||
| Q3 25 | 6.1% | 0.7% | ||
| Q2 25 | 5.8% | 1.0% | ||
| Q1 25 | 8.3% | 0.7% | ||
| Q4 24 | 4.4% | 1.0% | ||
| Q3 24 | 6.3% | 0.9% | ||
| Q2 24 | 8.7% | 1.3% | ||
| Q1 24 | 10.0% | 1.2% |
| Q4 25 | 4.10× | 1.92× | ||
| Q3 25 | 2.54× | 1.57× | ||
| Q2 25 | 1.64× | 2.79× | ||
| Q1 25 | 0.03× | 1.41× | ||
| Q4 24 | 3.62× | 4.59× | ||
| Q3 24 | 2.08× | 1.95× | ||
| Q2 24 | 1.62× | 8.86× | ||
| Q1 24 | 0.27× | — |
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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
