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CLEAN HARBORS INC（CLH）与国际香精香料（IFF）财务数据对比。点击上方公司名可切换其他公司
国际香精香料的季度营收约是CLEAN HARBORS INC的1.7倍（$2.6B vs $1.5B），CLEAN HARBORS INC净利率更高（5.8% vs 0.2%，领先5.6%），CLEAN HARBORS INC同比增速更快（4.8% vs -6.6%），CLEAN HARBORS INC自由现金流更多（$233.3M vs $130.0M），过去两年CLEAN HARBORS INC的营收复合增速更高（4.4% vs -5.5%）
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。
国际香精香料（IFF）是美国知名企业，业务覆盖风味、质感、香氛、营养、酶制剂、菌种、大豆蛋白、益生菌等多品类产品研发，产品行销全球。公司总部位于纽约，在44个国家设有创意、销售及生产基地，是标普500指数成分股企业。
CLH vs IFF — 直观对比
营收规模更大
IFF
是对方的1.7倍
$1.5B
营收增速更快
CLH
高出11.4%
-6.6%
净利率更高
CLH
高出5.6%
0.2%
自由现金流更多
CLH
多$103.3M
$130.0M
两年增速更快
CLH
近两年复合增速
-5.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $2.6B |
| 净利润 | $86.6M | $5.0M |
| 毛利率 | 30.6% | 34.4% |
| 营业利润率 | 10.6% | 3.7% |
| 净利率 | 5.8% | 0.2% |
| 营收同比 | 4.8% | -6.6% |
| 净利润同比 | 3.1% | 110.9% |
| 每股收益（稀释后） | $1.62 | $0.03 |
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CLHIFF
| Q4 25 | $1.5B | $2.6B | ||
| Q3 25 | $1.5B | $2.7B | ||
| Q2 25 | $1.5B | $2.8B | ||
| Q1 25 | $1.4B | $2.8B | ||
| Q4 24 | $1.4B | $2.8B | ||
| Q3 24 | $1.5B | $2.9B | ||
| Q2 24 | $1.6B | $2.9B | ||
| Q1 24 | $1.4B | $2.9B |
净利润CLHIFF
| Q4 25 | $86.6M | $5.0M | ||
| Q3 25 | $118.8M | $40.0M | ||
| Q2 25 | $126.9M | $612.0M | ||
| Q1 25 | $58.7M | $-1.0B | ||
| Q4 24 | $84.0M | $-46.0M | ||
| Q3 24 | $115.2M | $59.0M | ||
| Q2 24 | $133.3M | $170.0M | ||
| Q1 24 | $69.8M | $60.0M |
毛利率CLHIFF
| Q4 25 | 30.6% | 34.4% | ||
| Q3 25 | 32.3% | 36.5% | ||
| Q2 25 | 33.3% | 37.3% | ||
| Q1 25 | 28.6% | 36.4% | ||
| Q4 24 | 29.9% | 35.4% | ||
| Q3 24 | 31.0% | 36.0% | ||
| Q2 24 | 33.3% | 37.0% | ||
| Q1 24 | 29.5% | 35.3% |
营业利润率CLHIFF
| Q4 25 | 10.6% | 3.7% | ||
| Q3 25 | 12.5% | 8.4% | ||
| Q2 25 | 13.6% | 7.2% | ||
| Q1 25 | 7.8% | -31.8% | ||
| Q4 24 | 9.6% | 4.6% | ||
| Q3 24 | 12.6% | 8.5% | ||
| Q2 24 | 13.9% | 6.6% | ||
| Q1 24 | 9.1% | 6.9% |
净利率CLHIFF
| Q4 25 | 5.8% | 0.2% | ||
| Q3 25 | 7.7% | 1.5% | ||
| Q2 25 | 8.2% | 22.1% | ||
| Q1 25 | 4.1% | -35.8% | ||
| Q4 24 | 5.9% | -1.7% | ||
| Q3 24 | 7.5% | 2.0% | ||
| Q2 24 | 8.6% | 5.9% | ||
| Q1 24 | 5.1% | 2.1% |
每股收益（稀释后）CLHIFF
| Q4 25 | $1.62 | $0.03 | ||
| Q3 25 | $2.21 | $0.16 | ||
| Q2 25 | $2.36 | $2.38 | ||
| Q1 25 | $1.09 | $-3.98 | ||
| Q4 24 | $1.55 | $-0.17 | ||
| Q3 24 | $2.12 | $0.23 | ||
| Q2 24 | $2.46 | $0.66 | ||
| Q1 24 | $1.29 | $0.23 |
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 | $590.0M |
| 总债务越低越好 | — | $5.6B |
| 股东权益账面价值 | $2.7B | $14.2B |
| 总资产 | $7.6B | $25.5B |
| 负债/权益比越低杠杆越低 | — | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资CLHIFF
| Q4 25 | $127.4M | $590.0M | ||
| Q3 25 | $91.2M | $621.0M | ||
| Q2 25 | $98.9M | $816.0M | ||
| Q1 25 | $105.9M | $613.0M | ||
| Q4 24 | $102.6M | $469.0M | ||
| Q3 24 | $82.4M | $567.0M | ||
| Q2 24 | $91.3M | $671.0M | ||
| Q1 24 | $104.8M | $732.0M |
总债务CLHIFF
| Q4 25 | — | $5.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CLHIFF
| Q4 25 | $2.7B | $14.2B | ||
| Q3 25 | $2.8B | $14.2B | ||
| Q2 25 | $2.7B | $14.4B | ||
| Q1 25 | $2.6B | $13.2B | ||
| Q4 24 | $2.6B | $13.9B | ||
| Q3 24 | $2.5B | $14.8B | ||
| Q2 24 | $2.4B | $14.3B | ||
| Q1 24 | $2.3B | $14.3B |
总资产CLHIFF
| Q4 25 | $7.6B | $25.5B | ||
| Q3 25 | $7.5B | $25.8B | ||
| Q2 25 | $7.4B | $26.1B | ||
| Q1 25 | $7.2B | $28.3B | ||
| Q4 24 | $7.4B | $28.7B | ||
| Q3 24 | $7.3B | $29.9B | ||
| Q2 24 | $7.1B | $29.5B | ||
| Q1 24 | $6.9B | $30.6B |
负债/权益比CLHIFF
| Q4 25 | — | 0.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.64× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $318.0M |
| 自由现金流经营现金流 - 资本支出 | $233.3M | $130.0M |
| 自由现金流率自由现金流/营收 | 15.6% | 5.0% |
| 资本支出强度资本支出/营收 | 8.1% | 7.3% |
| 现金转化率经营现金流/净利润 | 4.10× | 63.60× |
| 过去12个月自由现金流最近4个季度 | $441.8M | $256.0M |
8季度趋势，按日历期对齐
经营现金流CLHIFF
| Q4 25 | $355.1M | $318.0M | ||
| Q3 25 | $302.0M | $164.0M | ||
| Q2 25 | $208.0M | $241.0M | ||
| Q1 25 | $1.6M | $127.0M | ||
| Q4 24 | $303.9M | $368.0M | ||
| Q3 24 | $239.2M | $366.0M | ||
| Q2 24 | $216.0M | $237.0M | ||
| Q1 24 | $18.5M | $99.0M |
自由现金流CLHIFF
| Q4 25 | $233.3M | $130.0M | ||
| Q3 25 | $207.5M | $32.0M | ||
| Q2 25 | $118.0M | $146.0M | ||
| Q1 25 | $-117.1M | $-52.0M | ||
| Q4 24 | $241.5M | $208.0M | ||
| Q3 24 | $142.4M | $263.0M | ||
| Q2 24 | $80.9M | $155.0M | ||
| Q1 24 | $-119.4M | $-19.0M |
自由现金流率CLHIFF
| Q4 25 | 15.6% | 5.0% | ||
| Q3 25 | 13.4% | 1.2% | ||
| Q2 25 | 7.6% | 5.3% | ||
| Q1 25 | -8.2% | -1.8% | ||
| Q4 24 | 16.9% | 7.5% | ||
| Q3 24 | 9.3% | 9.0% | ||
| Q2 24 | 5.2% | 5.4% | ||
| Q1 24 | -8.7% | -0.7% |
资本支出强度CLHIFF
| Q4 25 | 8.1% | 7.3% | ||
| Q3 25 | 6.1% | 4.9% | ||
| Q2 25 | 5.8% | 3.4% | ||
| Q1 25 | 8.3% | 6.3% | ||
| Q4 24 | 4.4% | 5.8% | ||
| Q3 24 | 6.3% | 3.5% | ||
| Q2 24 | 8.7% | 2.8% | ||
| Q1 24 | 10.0% | 4.1% |
现金转化率CLHIFF
| Q4 25 | 4.10× | 63.60× | ||
| Q3 25 | 2.54× | 4.10× | ||
| Q2 25 | 1.64× | 0.39× | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 3.62× | — | ||
| Q3 24 | 2.08× | 6.20× | ||
| Q2 24 | 1.62× | 1.39× | ||
| Q1 24 | 0.27× | 1.65× |
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% |
IFF
| Food Ingredients | $802.0M | 31% |
| Scent | $610.0M | 24% |
| Other | $589.0M | 23% |
| Taste | $588.0M | 23% |
