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CLEAN HARBORS INC（CLH）与格罗方德（GFS）财务数据对比。点击上方公司名可切换其他公司
格罗方德的季度营收约是CLEAN HARBORS INC的1.1倍（$1.7B vs $1.5B），格罗方德净利率更高（14.8% vs 5.8%，领先9.0%），CLEAN HARBORS INC同比增速更快（4.8% vs -2.9%），过去两年CLEAN HARBORS INC的营收复合增速更高（4.4% vs -4.3%）
总部位于美国马萨诸塞州诺韦尔的Clean Harbors是专业的商业客户废弃物管理与工业服务提供商，主营危险废弃物的收集、运输、处理及处置业务，同时提供非危险废弃物相关服务，目前在美加两国拥有870个运营网点，及包含焚烧厂、填埋场在内的100余座废弃物处置设施。
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
CLH vs GFS — 直观对比
营收规模更大
GFS
是对方的1.1倍
$1.5B
营收增速更快
CLH
高出7.7%
-2.9%
净利率更高
GFS
高出9.0%
5.8%
两年增速更快
CLH
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.7B |
| 净利润 | $86.6M | $249.0M |
| 毛利率 | 30.6% | 24.8% |
| 营业利润率 | 10.6% | 11.6% |
| 净利率 | 5.8% | 14.8% |
| 营收同比 | 4.8% | -2.9% |
| 净利润同比 | 3.1% | 39.9% |
| 每股收益（稀释后） | $1.62 | $0.44 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CLHGFS
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.5B | $1.7B | ||
| Q2 24 | $1.6B | $1.6B | ||
| Q1 24 | $1.4B | $1.5B |
净利润CLHGFS
| Q4 25 | $86.6M | — | ||
| Q3 25 | $118.8M | $249.0M | ||
| Q2 25 | $126.9M | $228.0M | ||
| Q1 25 | $58.7M | $211.0M | ||
| Q4 24 | $84.0M | — | ||
| Q3 24 | $115.2M | $178.0M | ||
| Q2 24 | $133.3M | $155.0M | ||
| Q1 24 | $69.8M | $134.0M |
毛利率CLHGFS
| Q4 25 | 30.6% | — | ||
| Q3 25 | 32.3% | 24.8% | ||
| Q2 25 | 33.3% | 24.2% | ||
| Q1 25 | 28.6% | 22.4% | ||
| Q4 24 | 29.9% | — | ||
| Q3 24 | 31.0% | 23.8% | ||
| Q2 24 | 33.3% | 24.2% | ||
| Q1 24 | 29.5% | 25.4% |
营业利润率CLHGFS
| Q4 25 | 10.6% | — | ||
| Q3 25 | 12.5% | 11.6% | ||
| Q2 25 | 13.6% | 11.6% | ||
| Q1 25 | 7.8% | 9.5% | ||
| Q4 24 | 9.6% | — | ||
| Q3 24 | 12.6% | 10.6% | ||
| Q2 24 | 13.9% | 9.5% | ||
| Q1 24 | 9.1% | 9.5% |
净利率CLHGFS
| Q4 25 | 5.8% | — | ||
| Q3 25 | 7.7% | 14.8% | ||
| Q2 25 | 8.2% | 13.5% | ||
| Q1 25 | 4.1% | 13.3% | ||
| Q4 24 | 5.9% | — | ||
| Q3 24 | 7.5% | 10.2% | ||
| Q2 24 | 8.6% | 9.5% | ||
| Q1 24 | 5.1% | 8.7% |
每股收益（稀释后）CLHGFS
| Q4 25 | $1.62 | — | ||
| Q3 25 | $2.21 | $0.44 | ||
| Q2 25 | $2.36 | $0.41 | ||
| Q1 25 | $1.09 | $0.38 | ||
| Q4 24 | $1.55 | — | ||
| Q3 24 | $2.12 | $0.32 | ||
| Q2 24 | $2.46 | $0.28 | ||
| Q1 24 | $1.29 | $0.24 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $127.4M | $2.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.7B | $11.8B |
| 总资产 | $7.6B | $16.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CLHGFS
| Q4 25 | $127.4M | — | ||
| Q3 25 | $91.2M | $2.0B | ||
| Q2 25 | $98.9M | $1.8B | ||
| Q1 25 | $105.9M | $1.6B | ||
| Q4 24 | $102.6M | — | ||
| Q3 24 | $82.4M | $2.3B | ||
| Q2 24 | $91.3M | $2.2B | ||
| Q1 24 | $104.8M | $2.2B |
股东权益CLHGFS
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.8B | $11.8B | ||
| Q2 25 | $2.7B | $11.5B | ||
| Q1 25 | $2.6B | $11.1B | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.5B | $11.6B | ||
| Q2 24 | $2.4B | $11.3B | ||
| Q1 24 | $2.3B | $11.3B |
总资产CLHGFS
| Q4 25 | $7.6B | — | ||
| Q3 25 | $7.5B | $16.7B | ||
| Q2 25 | $7.4B | $16.8B | ||
| Q1 25 | $7.2B | $16.5B | ||
| Q4 24 | $7.4B | — | ||
| Q3 24 | $7.3B | $18.1B | ||
| Q2 24 | $7.1B | — | ||
| Q1 24 | $6.9B | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $355.1M | $595.0M |
| 自由现金流经营现金流 - 资本支出 | $233.3M | — |
| 自由现金流率自由现金流/营收 | 15.6% | — |
| 资本支出强度资本支出/营收 | 8.1% | — |
| 现金转化率经营现金流/净利润 | 4.10× | 2.39× |
| 过去12个月自由现金流最近4个季度 | $441.8M | — |
8季度趋势，按日历期对齐
经营现金流CLHGFS
| Q4 25 | $355.1M | — | ||
| Q3 25 | $302.0M | $595.0M | ||
| Q2 25 | $208.0M | $431.0M | ||
| Q1 25 | $1.6M | $331.0M | ||
| Q4 24 | $303.9M | — | ||
| Q3 24 | $239.2M | $375.0M | ||
| Q2 24 | $216.0M | $402.0M | ||
| Q1 24 | $18.5M | $488.0M |
自由现金流CLHGFS
| Q4 25 | $233.3M | — | ||
| Q3 25 | $207.5M | — | ||
| Q2 25 | $118.0M | — | ||
| Q1 25 | $-117.1M | — | ||
| Q4 24 | $241.5M | — | ||
| Q3 24 | $142.4M | — | ||
| Q2 24 | $80.9M | — | ||
| Q1 24 | $-119.4M | — |
自由现金流率CLHGFS
| Q4 25 | 15.6% | — | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | 7.6% | — | ||
| Q1 25 | -8.2% | — | ||
| Q4 24 | 16.9% | — | ||
| Q3 24 | 9.3% | — | ||
| Q2 24 | 5.2% | — | ||
| Q1 24 | -8.7% | — |
资本支出强度CLHGFS
| Q4 25 | 8.1% | — | ||
| Q3 25 | 6.1% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 8.3% | — | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 6.3% | — | ||
| Q2 24 | 8.7% | — | ||
| Q1 24 | 10.0% | — |
现金转化率CLHGFS
| Q4 25 | 4.10× | — | ||
| Q3 25 | 2.54× | 2.39× | ||
| Q2 25 | 1.64× | 1.89× | ||
| Q1 25 | 0.03× | 1.57× | ||
| Q4 24 | 3.62× | — | ||
| Q3 24 | 2.08× | 2.11× | ||
| Q2 24 | 1.62× | 2.59× | ||
| Q1 24 | 0.27× | 3.64× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
