Clean Harbors Inc (CLH)

Debt-to-capital ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Long-term debt	US$ in thousands	2,771,120	2,773,660	2,775,840	2,778,620	2,291,720	2,292,950	2,294,310	2,409,650	2,414,830	2,507,950	2,510,960	2,513,940	2,517,020	1,546,280	1,547,400	1,548,520	1,549,640	1,550,760	1,626,870	1,702,990
Total stockholders’ equity	US$ in thousands	2,573,530	2,528,310	2,441,720	2,311,340	2,247,510	2,185,790	2,109,890	1,980,040	1,922,320	1,837,580	1,716,950	1,593,240	1,513,890	1,463,560	1,409,590	1,348,450	1,341,550	1,304,720	1,253,970	1,205,800
Debt-to-capital ratio		0.52	0.52	0.53	0.55	0.50	0.51	0.52	0.55	0.56	0.58	0.59	0.61	0.62	0.51	0.52	0.53	0.54	0.54	0.56	0.59

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,771,120K ÷ ($2,771,120K + $2,573,530K)
= 0.52

The debt-to-capital ratio of Clean Harbors Inc has exhibited a gradual decrease from 0.59 as of March 31, 2020, to 0.52 as of December 31, 2024. This indicates that the company has been effectively reducing its debt in proportion to its total capital over the years. However, it is important to note that there was a slight increase in the ratio in the most recent quarter, rising to 0.52 from the previous quarter's 0.51. This may suggest a temporary shift towards more debt relative to capital, which should be monitored to ensure financial stability and sustainability.