Clean Harbors Inc (CLH)

Debt-to-equity 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-equity ratio		1.08	1.10	1.14	1.20	1.02	1.05	1.09	1.22	1.26	1.36	1.46	1.58	1.66	1.06	1.10	1.15	1.16	1.19	1.30	1.41

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,771,120K ÷ $2,573,530K
= 1.08

The debt-to-equity ratio of Clean Harbors Inc has shown a downward trend from 1.41 as of March 31, 2020, to 1.08 as of December 31, 2024. This indicates that the company's level of debt in relation to its equity has been decreasing over the years. A decreasing debt-to-equity ratio can signify improved financial health and lower financial risk for the company.

However, it is important to note that the ratio experienced some fluctuations during this period, with intermittent increases and decreases. The ratio peaked at 1.66 as of December 31, 2021, suggesting a higher reliance on debt at that point in time. Subsequently, there was a decline in the ratio over the following quarters.

Overall, the decreasing trend in the debt-to-equity ratio of Clean Harbors Inc implies a potentially improving financial position in terms of capital structure and debt management, although periodic fluctuations should be monitored for a more comprehensive assessment of the company's financial leverage.