The Short Answer
Clean Harbors stock (CLH) is currently doubtful under the asset-based screens we calculate. Hazardous-waste treatment, environmental cleaning and used-oil re-refining are generally permissible activities, but the latest filing puts interest-bearing debt above the tracked 33% limits.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
2,774.017 / 7,552.566
669.034 / 7,552.566
1,661.157 / 7,552.566
6.413 / 1,459.537
- Financial
- Fails
- Overall
- Fails
Debt/assets is 36.73%, above the examined 33.333% limit; liquidity/assets is 8.86%, receivables plus cash/assets is 22.00% and interest income/revenue is 0.44%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 36.73%, above the examined 33.33% total-assets limit; liquidity and receivables-plus-cash ratios pass the other examined limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 36.73%, above the examined 33% limit; this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset-based debt screen already fails.
Business-activity disclosure
Clean Harbors provides hazardous-waste treatment, environmental services, industrial cleaning and used-oil re-refining. These services are generally permissible and support public health, but the filing does not create a scholar-approved prohibited-activity revenue numerator.
Limitation: The filing reports segment revenue but does not quantify a universal prohibited-activity numerator for all customers, waste streams or downstream uses.
Purification
Clean Harbors discloses $6.413 million of interest income, or 0.44% of quarterly revenue, but no scholar-approved fixed purification percentage is inferred.
Inputs, assumptions and primary sources
- Amounts are USD millions from Clean Harbors' March 31, 2026 Form 10-Q.
- Debt combines $12.600 million of current debt and $2,761.417 million of long-term debt at carrying value; operating leases are excluded.
- Cash and cash equivalents are $547.994 million and short-term marketable securities are $121.040 million.
- Accounts receivable, net are $1,113.163 million; unbilled accounts receivable of $192.241 million is not added to the trade-receivable field.
- Quarterly revenue is $1,459.537 million and disclosed interest income is $6.413 million.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
What Clean Harbors Does
Clean Harbors operates environmental services and Safety-Kleen sustainability businesses, including hazardous-waste collection, treatment, disposal, industrial cleaning and used-oil re-refining. These services support public health and are generally permissible.
The filing does not provide a universal prohibited-activity revenue numerator for every waste stream or customer, so the qualitative screen remains a matter for the investor's chosen scholar or board.
Current Quantitative Screen
The March 31, 2026 Form 10-Q reports $7,552.566 million of assets, $2,774.017 million of interest-bearing debt, $547.994 million of cash, $121.040 million of short-term marketable securities and $1,113.163 million of accounts receivable.
- Debt/assets: 36.73% — above the 33.333% FTSE, 33.33% MSCI and 33% Malaysia limits.
- Liquidity/assets: 8.86% — below the examined limits.
- Receivables plus cash/assets: 22.00% — below the examined limits.
- Interest income/revenue: 0.44% from $6.413 million of disclosed interest income.
Because leverage fails each tracked asset-based methodology, the current quantitative result is a fail even though the core business is generally permissible.
Purification and Methodology Limits
The disclosed interest-income ratio is below the examined FTSE income threshold, but this is not a fixed purification prescription. Follow the guidance of a qualified scholar or the methodology you use. Market-cap denominator methods are not calculated here because a licensed historical series is not stored.
Bottom Line
CLH is doubtful at this review date: the environmental-services activity is generally halal, but the March 2026 debt/assets ratio is above the tracked limits. Re-screen after a newer filing, refinancing or material acquisition.