DAR · Darling Ingredients Inc. · Financials

$52.30 -1.32 (-2.46%) Play latest call Q3 2026 earnings call transcript

S&P 400 member Russell 1000 member Rebalance outlook locked

Market Cap

$8.46B

157.80M

Volume · Nov 4 3.84M Avg daily vol (3M) 2.42M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

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Revenue

$6.14B +7.4%

FY2025

Net Income

$62.8M -77.5%

FY2025

Gross Margin

24.01% +1.6pp

FY2025

Operating Margin

4.46% -3.7pp

FY2025

Diluted EPS

$0.39 -77.5%

FY2025

Operating Cash Flow

$1.06B +26.3%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Revenue	-2.1%	+11.4%	+6.1%	$6.55B	$6.14B	$5.72B	$6.79B	$6.53B	$4.74B	$3.57B	$3.36B	$3.39B	$3.66B	$3.39B	$3.39B	$3.96B	$1.8B	$1.77B	$1.8B	$724.91M	$597.81M	$807.49M
Cost of Revenue	-2.3%	+11.6%	+5.8%	$4.82B	$4.66B	$4.44B	$5.14B	$5B	$3.5B	$2.69B	$2.59B	$2.65B	$2.88B	$2.64B	$2.65B	$3.12B	$1.34B	$1.3B	$1.27B	$531.7M	$440.11M	$614.71M
Gross Profit	-1.2%	+10.8%	+7.2%	$1.72B	$1.47B	$1.28B	$1.65B	$1.53B	$1.24B^d	$883.11M^d	$774.82M^d	$741.35M^d	$786.57M^d	$756.6M^d	$737.23M^d	$833.27M^d	$462.45M^d	$468.83M^d	$529.03M^d	$193.21M^d	$157.7M^d	$192.78M^d
Gross Margin	—	—	—	—	24.01%	22.36%	24.23%	23.42%	26.19%^d	24.72%^d	23.03%^d	21.88%^d	21.48%^d	22.31%^d	21.74%^d	21.06%^d	25.66%^d	26.45%^d	29.44%^d	26.65%^d	26.38%^d	23.87%^d
Selling, General & Administrative	+8.1%	+7.8%	+5.7%	$591.55M	$551.16M	$492.11M	$542.53M	$436.61M	$391.54M	$378.5M	$358.52M	$309.26M	$343.5M	$311.55M	$316.38M	$374.58M	$170.83M	$151.71M	$136.14M	$68.04M	$61.06M	$59.76M
Amortization of Intangibles	+5.8%	+7.2%	+2.3%	$104.1M	$105M	$112.2M	$124.8M	$88.7M	$67.4M	$74M	$73.6M	$75.2M	$78M	$77.7M	$83.3M	$83.6M	$32.1M	$28.1M	$28M	$5.6M	—	—
Depreciation & Amortization	+8.8%	+7.7%	+6.5%	$524.7M	$508.5M	$503.83M	$502.02M	$394.72M	$316.39M	$350.18M	$325.51M	$321.19M	$302.1M	$289.91M	$269.9M	$269.52M	$98.79M	$85.37M	$78.91M	$31.91M	$25.23M	$24.43M
Total Costs & Expenses	-0.4%	+11.0%	+6.0%	$6.03B	$5.81B	$5.4B	$6.2B	$5.88B	$4.21B	$3.46B	$3.25B	$3.29B	$3.52B	$3.24B	$3.25B	$3.79B	$1.63B	$1.54B	$1.48B	$642.45M	$526.87M	$714.82M
Operating Income	-35.7%	-8.7%	+6.7%	$951.18M	$273.44M	$468.22M	$949.73M	$1.03B	$884.47M	$430.94M	$475.82M	$255M	$169.45M	$154.73M	$142.64M	$164.51M	$169.57M	$231.74M	$313.98M	$82.46M	$70.94M	$92.68M
Operating Margin	—	—	—	—	4.46%	8.19%	13.99%	15.75%	18.65%	12.06%	14.14%	7.53%	4.63%	4.56%	4.21%	4.16%	9.41%	13.07%	17.47%	11.38%	11.87%	11.48%
EBITDA	-18.1%	0.0%	+6.6%	$1.48B	$781.94M	$972.04M	$1.45B	$1.42B	$1.2B	$781.11M	$801.33M	$576.19M	$471.55M	$444.64M	$412.55M	$434.03M	$268.35M	$317.11M	$392.89M	$114.37M	$96.17M	$117.11M
Interest Expense	+21.0%	+25.1%	+7.7%	$222.08M	$222.28M	$253.86M	$259.22M	$125.57M	$62.08M	$72.69M	$78.67M	$86.43M	$88.93M	$94.19M	$105.53M	$135.42M	$38.11M	$24.05M	$37.16M	$8.74M	$3.11M	$3.02M
Interest Income	—	—	—	—	—	$16M	$16.4M	$5.3M	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Non-Operating Income	—	—	—	-$220.33M	-$225.17M	-$232.7M	-$234.78M	-$140.45M	-$68.83M	-$80.51M	-$95.82M	-$136.48M	-$105.51M	-$102.57M	-$117.28M	-$148.67M	-$13.55M	-$22.29M	-$40.12M	-$12.12M	-$4.06M	-$2.76M
Equity in Earnings of Unconsolidated Entities	+35.7%	+31.9%	-16.1%	$12.41M	$12.76M	$11.99M	$5.01M	$5.1M	$5.75M	$3.19M	$428K	-$550K	$265K	$70.38M	$73.42M	$65.61M	$7.66M	-$2.66M	-$1.57M	$0	$0	—
Pretax Income	-59.1%	-29.6%	-4.7%	$743.25M	$61.03M	$247.51M	$719.96M	$893.72M	$821.4M	$353.62M	$380.43M	$117.98M	$64.2M	$122.54M	$98.78M	$81.45M	$163.68M	$206.79M	$272.29M	$70.34M	$66.88M	$89.92M
Income Tax	—	—	—	$136.99M	-$9.36M	-$38.34M	$59.57M	$146.63M	$164.11M	$53.29M	$59.47M	$12.03M	-$69.15M	$15.32M	$13.5M	$13.14M	$54.71M	$76.02M	$102.88M	$26.1M	$25.09M	$35.35M
Net Income	-56.0%	-26.7%	-2.2%	$595.58M	$62.8M	$278.88M	$647.73M	$737.69M	$650.91M	$296.82M	$312.6M	$101.5M	$128.47M	$102.31M	$78.53M	$64.22M	$108.97M	$130.77M	$169.42M	$44.24M	$41.79M	$54.56M
Net Margin	—	—	—	—	1.02%	4.88%	9.54%	11.29%	13.73%	8.31%	9.29%	3%	3.51%	3.02%	2.32%	1.62%	6.05%	7.38%	9.43%	6.1%	6.99%	6.76%
Net Income Attributable to Noncontrolling Interests	-6.9%	+16.6%	+1.2%	$8.33M	$7.58M	$6.97M	$12.66M	$9.4M	$6.38M	$3.51M	$8.37M	$4.45M	$4.89M	$4.91M	$6.75M	$4.1M	$0	$0	—	—	—	—
Net Income Available to Common Stockholders	-56.0%	-26.7%	-2.2%	$597.93M	$62.8M	$278.88M	$647.73M	$737.69M	$650.91M	$296.82M	$312.6M	$101.5M	$128.47M	$102.31M	$78.53M	$64.22M	$108.97M	$130.77M	$169.42M	$44.24M	$41.79M	—
Comprehensive Income	-15.5%	+2.2%	—	$719.05M	$407.86M	-$207.02M	$833.25M	$675.51M	$581.66M	$366.23M	$295.29M	$11.26M	$258.95M	$98.23M	-$80.33M	-$83.42M	$110.87M	$130.35M	$159.5M	$47.04M	$47.86M	$33.24M
EPS (Basic) USD/shares	-55.6%	-26.2%	-1.8%	$3.77	$0.40	$1.75	$4.05	$4.58	$4.01	$1.83	$1.90	$0.62	$0.78	$0.62	$0.48	$0.39	$0.91	$1.11	$1.47	$0.53	$0.51	$0.67
EPS (Diluted) USD/shares	-55.7%	-26.2%	-2.1%	$3.71	$0.39	$1.73	$3.99	$4.49	$3.90	$1.78	$1.86	$0.60	$0.77	$0.62	$0.48	$0.39	$0.91	$1.11	$1.47	$0.53	$0.51	$0.66
Shares Outstanding (Basic Avg) shares	-0.5%	-0.5%	-0.4%	—	158.48M	159.51M	159.86M	161M	162.45M	162.57M	164.63M	164.79M	164.75M	164.6M	165.03M	164.63M	119.53M	117.59M	114.92M	82.85M	82.14M	—
Shares Outstanding (Diluted Avg) shares	-0.8%	-0.9%	-0.3%	—	160.16M	161.42M	162.39M	164.12M	167.1M	167.21M	168.38M	167.91M	166.73M	165.21M	165.12M	165.06M	119.92M	118.09M	115.53M	83.24M	82.48M	—

^d Gross profit for periods the company did not report it, or tagged its operating income as gross profit, is Revenue − Cost of Revenue. Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2013–FY2025: $500.34M in buybacks.

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Read debt and covenant terms in your AI or your code through MCP and the API →

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balance	As of	Amount	Source
Current operating lease liabilities	2026-07-04	USD 64,102,000	10-Q filed 2026-08-07
Debt and lease obligations	2026-07-04	USD 3,947,724,000	10-Q filed 2026-08-07
Related accounting measures — not additional borrowing Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year. Current long-term debt and lease obligations USD 96,761,000 Noncurrent long-term debt and lease obligations USD 3,850,963,000
Finance lease liabilities	2026-07-04	EUR 3,400,000	10-Q filed 2026-08-07
Finance lease liabilities	2026-07-04	USD 1,200,000	10-Q filed 2026-08-07
Noncurrent operating lease liabilities	2026-07-04	USD 159,373,000	10-Q filed 2026-08-07

1 filing observation remains unmatched and is excluded from instrument histories.

Instrument and agreement coverage is incomplete. Additional filings are awaiting review.

1 filing has incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.

Covenants

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

The instrument breakdown is not yet verified. Read the debt note in the linked report for borrowing terms and maturity conditions.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

1.87×

Peer median 1.18×

EV/EBIT

12.88×

Peer median 15.60×

P/E (TTM)

14.45×

Peer median 17.29×

Price/Sales (TTM)

1.29×

Peer median 0.85×

Price/Book

1.61×

Peer median 1.68×

EV/Adj. EBITDA (FY2025)

13.58×

Peer median 11.27×

Peer medians compare against the 25 similar-size Packaged Foods companies (of 80 listed).

EV/Adj. EBITDA uses the company-stated “Pro forma Adjusted EBITDA to Foreign Currency (Non-GAAP)”, extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.

Valuation over time computed as of each quarter's filing date

EV/Adj. EBITDA uses the company-stated “Pro forma Adjusted EBITDA to Foreign Currency (Non-GAAP)”, extracted from the reconciliation in its SEC filings as it existed at each sample date — the company's own non-GAAP definition, not an XBRL-tagged figure. Each point's tooltip names its TTM or fiscal-year basis.

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Feed Ingredients	$3,990,088,000	$3,675,609,000	$4,472,592,000	$4,539,000,000	$3,039,500,000	$2,072,104,000	$1,970,561,000	$1,952,555,000
Food Ingredients	$1,545,030,000	$1,489,101,000	$1,752,065,000	$1,459,630,000	$1,271,629,000	$1,185,701,000	$1,119,085,000	$1,139,126,000
Fuel Ingredients	$600,759,000	$550,465,000	$563,423,000	$533,574,000	$430,240,000	$314,118,000	$274,259,000	$296,045,000
Corporate	—	—	$0	$0	$0	$0	$0	$0

By Geography (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
North America	$3,455,625,000	$3,249,871,000	$4,165,712,000	$4,222,058,000	$2,867,934,000	$1,960,503,000	$1,889,573,000	$1,817,001,000
Europe	$1,786,488,000	$1,627,060,000	$1,691,449,000	$1,769,973,000	$1,521,031,000	$1,296,668,000	$1,153,787,000	$1,225,461,000
South America	$570,891,000	$504,516,000	$534,082,000	$187,343,000	$31,446,000	$38,238,000	$51,168,000	$53,206,000
China	$261,433,000	$266,468,000	$308,572,000	$284,684,000	$253,212,000	$202,093,000	$194,625,000	$210,657,000
Other Geographical Areas	$61,440,000	$67,260,000	$88,265,000	$68,146,000	$67,746,000	$74,421,000	$74,752,000	$81,401,000

By Product & Service (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Fats	$1,779,595,000	$1,464,012,000	$1,904,079,000	$2,156,857,000	$1,380,796,000	$804,737,000	$718,234,000	$728,605,000
Proteins	$1,409,395,000	$1,484,581,000	$1,672,027,000	$1,476,553,000	$1,022,694,000	$830,195,000	$791,284,000	$842,878,000
Food Ingredients Products and Services	$1,253,900,000	$1,232,521,000	$1,476,875,000	$1,121,995,000	$961,617,000	$947,928,000	$894,761,000	$886,042,000
Bioenergy	$600,759,000	$550,465,000	$563,423,000	$533,574,000	$426,863,000	$293,249,000	$234,691,000	$247,187,000
Used Cooking Oil	$445,494,000	$351,309,000	$497,657,000	$519,119,000	$319,145,000	$176,691,000	$185,705,000	$166,634,000
Other Rendering	$295,700,000	$293,648,000	$243,525,000	$200,945,000	$173,405,000	$178,601,000	$167,870,000	$129,273,000
Bakery	$195,444,000	$190,462,000	$255,214,000	$333,442,000	$287,424,000	$183,759,000	$191,551,000	$180,227,000
Other Products and Services	$155,590,000	$148,177,000	$175,280,000	$189,719,000	$166,048,000	$135,894,000	$140,241,000	$158,022,000
Biofuels	—	—	—	—	$3,377,000	$20,869,000	$39,568,000	$48,858,000

Segment Operating Income

Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Feed Ingredients	$215,208,000	$203,952,000	$419,172,000	$506,333,000	$394,782,000	$96,626,000	$54,742,000	$82,843,000
Food Ingredients	$151,790,000	$144,682,000	$211,646,000	$176,569,000	$134,001,000	$83,379,000	$90,608,000	$33,768,000
Fuel Ingredients	$3,355,000	$197,167,000	$425,265,000	$435,937,000	$425,069,000	$317,280,000	$398,819,000	$195,087,000
Corporate	—	—	-$106,357,000	-$89,771,000	-$69,382,000	-$66,349,000	-$68,348,000	-$56,697,000

Operating Margin by Segment (%)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Feed Ingredients	5.4%	5.5%	9.4%	11.2%	13%	4.7%	2.8%	4.2%
Food Ingredients	9.8%	9.7%	12.1%	12.1%	10.5%	7%	8.1%	3%
Fuel Ingredients	0.6%	35.8%	75.5%	81.7%	98.8%	101%	145.4%	65.9%

Key facts CIK 916540 CUSIP 237266101 13F (30d) 251 filings 232 filers Visit website Investor relations