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Darling Ingredients Inc. (DAR)

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Darling Ingredients Inc. (DAR) reported revenue of $1.7 billion for Q2 FY2026, the quarter ended 4 July 2026, up 16.4% on the same quarter a year earlier. Net income was $387 million, up 2959.1% on the year, and diluted earnings per share $2.41. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2026.

Revenue$1.7 billionup 16.4%
Net income$387 millionup 2959.1%
Diluted EPS$2.41
QuarterQ2 FY2026ended 4 July 2026

Darling Ingredients (DAR) in brief

Darling Ingredients (DAR) reported revenue of $6.1 billion for fiscal 2025, the year ended 3 January 2026, up 7.4% on the year before.
Read moreNet income was $63 million and diluted earnings per share $0.39. Revenue was $5.7 billion in fiscal 2024, $6.8 billion in fiscal 2023, $6.5 billion in fiscal 2022 and $4.7 billion in fiscal 2021. Net income in the same years was $279 million, $648 million, $738 million and $651 million. Over the twelve months to 4 July 2026, Darling Ingredients reported revenue of $6.5 billion and net income of $598 million. Revenue grew 11.4% a year, compounded, over the five years to fiscal 2025. Darling Ingredients had 158 million shares outstanding at the latest filed count. At 4 July 2026 it carried $3.9 billion of debt and $161 million of cash. At the close of 8 October 2026 the market cap of Darling Ingredients was $9.8 billion, 16.8 times its earnings over the last twelve months.

Ratios

From the filings

ROE11.4%
ROCE10.5%
Operating margin14.5%
Net margin9.1%
FCF marginn/a
Interest cover4.28
Debt to equity0.73
Cash conversion2.26
Share count, 1 year-0.2%
Sales CAGR, 3 years-2.1%
Profit CAGR, 3 years-56.0%
EPS, TTM$3.71

At the close of 8 October 2026

Price$62.25
Market cap$9.8 billion
Stock P/E16.78
Price to book1.87
EV / EBITDA9.16
Dividend yieldn/a
Market cap / sales1.50
52-week high$68.34
52-week low$29.91
Price, 1 year97.4%
Price CAGR, 3 years9.6%
Price CAGR, 5 years-3.1%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on the one borrowings figure Darling Ingredients Inc. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.
DARgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on DAR

Filings20 in twelve months: 12 current reports (8-K), about 5 regulation fd disclosure; 5 results of operations; 3 officer or director change; 1 shareholder vote
Planned insider sales13 Form 144 notices in twelve months, $11.0 million; latest 2 September 2026
Options tapeput/call 0.23 by open interest at the 8 October 2026 close; the straddle prices a 4.8% move to 16 October 2026
13F holders8 of the followed funds hold it; largest Citadel Advisors; 4 Schedule 13D or 13G filings in twelve months
Insider trading19 sales and 2 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest6.7 million shares short, 3.23 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,6251,6141,4201,4551,4221,4181,3811,4821,5641,7101,5511,724
Cost of revenue1,2391,1781,1171,1281,1081,0841,0691,1361,1771,2811,1461,221
Gross profit386436304327314334311346387429405503
Gross margin24%27%21%22%22%24%23%23%25%25%26%29%
SG&A138133139130116108122138140152149151
Operating income17815913714960.112228.475.971.797.4227555
Operating margin11%10%10%10%4%9%2%5%5%6%15%32%
Interest expensen/an/a62.969.266.854.958.051.956.955.554.155.5
Pre-tax income11394.585.582.11.678.2-25.018.319.847.9176500
Tax rate-14%8%5%1%-1063%-33%n/a22%-6%-23%22%22%
Net income12584.581.278.916.9102-26.212.719.456.9134387
Net margin8%5%6%5%1%7%-2%1%1%3%9%22%
Diluted EPS$0.77$0.52$0.50$0.49$0.11$0.63-$0.16$0.08$0.12$0.35$0.83$2.41
Operating cash flow277217264147274154249146224441153533
Buybacks0.00.00.029.20.05.134.70.00.00.00.073.4
Shares outstanding160m160m160m159m159m159m158m158m158m159m159m158m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue3,9563,3973,3923,6623,3883,3643,5724,7416,5326,7885,7156,1366,549
Cost of revenue3,1232,6542,6352,8762,6472,5892,6893,4995,0035,1434,4374,6624,824
Gross profit8337437577867417758831,2421,5301,6451,2781,4731,724
Gross margin21.1%21.9%22.3%21.5%21.9%23.0%24.7%26.2%23.4%24.2%22.4%24.0%26.3%
Selling, general and administrative375316312344309359378392437543492551592
Operating income1651431551692554764318841,029950468273951
Operating margin4.2%4.2%4.6%4.6%7.5%14.1%12.1%18.7%15.8%14.0%8.2%4.5%14.5%
Interest expense13510694.288.986.478.772.762.1126259254222222
Pre-tax income81.598.812364.211838035482189472024861.0743
Income tax13.113.515.3-69.212.059.553.316414759.6-38.3-9.4137
Effective tax rate16.1%13.7%12.5%-107.7%10.2%15.6%15.1%20.0%16.4%8.3%-15.5%-15.3%18.4%
Net income64.278.510212810131329765173864827962.8598
Net margin1.6%2.3%3.0%3.5%3.0%9.3%8.3%13.7%11.3%9.5%4.9%1.0%9.1%
Diluted EPS$0.39$0.48$0.62$0.77$0.60$1.86$1.78$3.90$4.49$3.99$1.73$0.39$3.71
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2026Share
latest year
Feed Ingredients4,4733,6763,99065.0%
Food Ingredients1,7521,4891,54525.2%
Fuel Ingredients5635506019.8%
Feed IngredientsFood IngredientsFuel Ingredients
6,788FY20235,715FY20246,136FY2026

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by product or service

FY2023FY2024FY2026Share
latest year
Fats1,9041,4641,78029.0%
Proteins1,6721,4851,40923.0%
Food Ingredients, Products and Services1,4771,2331,25420.4%
Bioenergy5635506019.8%
Used Cooking Oil4983514457.3%
Other Rendering2442942964.8%
Bakery2551901953.2%
Other, Products And Services1751481562.5%
FatsProteinsFood Ingredients, Products and ServicesBioenergyUsed Cooking OilOther RenderingBakeryOther, Products And Services
6,788FY20235,715FY20246,136FY2026

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2026Share
latest year
North America4,1663,2503,45656.3%
Europe1,6911,6271,78629.1%
South America5345055719.3%
China3092662614.3%
Other Geographical Areas88.367.361.41.0%
North AmericaEuropeSouth AmericaChinaOther Geographical Areas
6,788FY20235,715FY20246,136FY2026

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow2754213914113993636257048148998391,0601,351
Capital expenditure229230244274322359280274391555332380n/a
Free cash flow46.319214813676.73.1345430422344507679n/a
Free cash flow margin1.2%5.6%4.3%3.7%2.3%0.1%9.6%9.1%6.5%5.1%8.9%11.1%n/a
Cash from investing-2,324-230-243-284-342-338-311-490-2,417-1,675-499-681-1,046
Cash from financing1,276-140-184-155-47.6-54.9-307-2211,679876-400-377-240
Depreciation and amortisation270270290302321326350316395502504509525
Share-based compensation20.89.010.317.618.821.023.221.825.033.220.921.836.7
Buybacks0.05.95.00.00.019.355.016812652.934.334.773.4
Diluted shares, weighted165m165m165m167m168m168m167m167m164m162m161m160m161m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/a158m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity1,9531,8711,9732,2452,2732,5662,8923,2813,8094,6054,3784,7375,246
Non-controlling interest98.110410382.862.877.562.366.887.588.386.572.660.5
Depositsn/an/an/an/an/a18.314.415.9n/an/an/an/an/a
Debt2,1521,9601,7281,6981,6671,5581,4811,4393,3154,3663,9093,8623,851
Operating lease liabilitiesn/an/an/an/a0.091.4110120142155152162159
Other liabilities9238268949328871,0341,0541,2111,8491,8461,5451,4651,668
Total liabilities and equity5,1274,7614,6984,9584,8895,3455,6136,1349,20211,06110,07010,29910,984
Owned
Fixed assets1,5741,5081,5161,6461,6881,8021,8641,8402,4622,9352,7142,7962,828
Goodwill1,3201,2331,2261,3011,2291,2231,2601,2191,9702,4852,3232,4592,554
Intangible assets9327827126765965264743988651,076898845822
Cash and equivalents10915711510710772.981.668.912712776.088.7161
Receivables410371388392386406405469677n/an/an/an/a
Inventory402345331358341363406457674759577528605
Other assets3793644114785429511,1231,6812,4283,6803,4833,5824,013
Total assets5,1274,7614,6984,9584,8895,3455,6136,1349,20211,06110,07010,29910,984
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.1%11.4%-2.1%14.9%
Profit growth, compounded-2.2%-26.7%-56.0%467.5%
Return on equity, average9.9%12.2%7.3%1.3%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Food Products

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Archer-Daniels-Midland Co. ADM$39.7 billion22.597.5%n/a-0.8%0.272.5%
Kraft Heinz Co. KHC$26.7 billionn/a-9.4%-12.8%-1.6%0.497.1%
Bunge Global SA BG$20.9 billion20.946.3%n/a80.5%0.956.6%
Tyson Foods, Inc. TSN$18.6 billion32.313.2%2.3%2.9%0.36n/a
General Mills Inc. GIS$17.4 billionn/a-12.0%-1.1%-4.5%1.667.5%
J.M. Smucker Co. SJM$12.8 billion55.804.0%9.0%5.1%1.143.7%
Mccormick & Co. Inc. MKC$12.4 billion8.3121.3%13.4%13.2%0.534.0%
Hormel Foods Corp. HRL$10.7 billion30.834.4%4.7%0.7%0.306.0%
Darling Ingredients Inc. DAR$9.8 billion16.7811.4%14.5%14.9%0.73n/a
Pilgrims Pride Corp. PPC$6.8 billion12.3914.6%5.0%1.4%0.76n/a
Ingredion Inc. INGR$6.0 billion10.3713.1%11.9%-1.4%0.393.4%
Post Holdings, Inc. POST$3.3 billion13.659.5%9.6%6.2%2.484.0%
All 15 in Food Products
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Mondelez International, Inc. MDLZ$77.9 billion22.3113.2%11.2%6.9%0.623.2%
Archer-Daniels-Midland Co. ADM$39.7 billion22.597.5%n/a-0.8%0.272.5%
Hershey Co. HSY$33.0 billion22.2032.6%17.8%7.7%1.14n/a
Kraft Heinz Co. KHC$26.7 billionn/a-9.4%-12.8%-1.6%0.497.1%
Bunge Global SA BG$20.9 billion20.946.3%n/a80.5%0.956.6%
Tyson Foods, Inc. TSN$18.6 billion32.313.2%2.3%2.9%0.36n/a
General Mills Inc. GIS$17.4 billionn/a-12.0%-1.1%-4.5%1.667.5%
J.M. Smucker Co. SJM$12.8 billion55.804.0%9.0%5.1%1.143.7%
Mccormick & Co. Inc. MKC$12.4 billion8.3121.3%13.4%13.2%0.534.0%
Hormel Foods Corp. HRL$10.7 billion30.834.4%4.7%0.7%0.306.0%
Darling Ingredients Inc. DAR$9.8 billion16.7811.4%14.5%14.9%0.73n/a
Pilgrims Pride Corp. PPC$6.8 billion12.3914.6%5.0%1.4%0.76n/a
Ingredion Inc. INGR$6.0 billion10.3713.1%11.9%-1.4%0.393.4%
Post Holdings, Inc. POST$3.3 billion13.659.5%9.6%6.2%2.484.0%
Marzetti Co. MZTI$2.7 billion14.4118.2%12.4%1.1%0.193.9%
2 companies share its SEC industry code (Fats & Oils); the rest are the names nearest in size in its wider industry, Food Products, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q4 July 20267 August 2026EDGAR
10-Q4 April 20268 May 2026EDGAR
10-K3 January 20263 March 2026EDGAR
10-Q27 September 20255 November 2025EDGAR
10-Q28 June 20256 August 2025EDGAR
10-Q29 March 20257 May 2025EDGAR
10-K28 December 202425 February 2025EDGAR
10-Q28 September 20246 November 2024EDGAR
10-Q29 June 20247 August 2024EDGAR
10-Q30 March 20247 May 2024EDGAR

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