NYSE : DAR
Darling Ingredients Inc. — Financial statements
Consumer Staples · Packaged Foods · United States
Last price 55.73 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 8.79B
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Financial statements
Darling Ingredients Inc. (DAR) reported revenue of 6.78B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 6.78B | 6.14B | 5.72B | 6.79B | 6.53B | 4.74B |
| Cost of Revenue | 4.96B | 4.66B | 4.44B | 5.14B | 5.00B | 3.50B |
| Gross Profit | 1.82B | 1.47B | 1.28B | 1.65B | 1.53B | 1.24B |
| Selling, General & Admin | 625.74M | 558.05M | 493.90M | 544.08M | 435.47M | 391.53M |
| Operating Expenses | 1.16B | 1.07B | 997.72M | 1.05B | 830.19M | 707.92M |
| Operating Income | 652.98M | 406.90M | 280.12M | 598.93M | 699.40M | 534.07M |
| Interest Expense | -216.62M | -222.28M | -253.86M | -259.22M | -125.57M | -62.08M |
| Earnings From Equity Investments | 656.13M | -36.01M | 161.08M | 371.39M | 377.45M | 357.38M |
| Currency Exchange Gain (Loss) | 2.41M | -384.00K | -1.15M | 8.13M | -11.28M | -2.20M |
| Other Non Operating Income (Expenses) | 3.65M | 7.36M | 24.10M | 17.85M | -4.71M | -4.56M |
| EBT Excluding Unusual Items | 1.10B | 155.59M | 210.28M | 737.08M | 935.30M | 822.61M |
| Merger & Restructuring Charges | -91.10M | -73.90M | -13.64M | -32.44M | -46.04M | -2.17M |
| Gain (Loss) on Sale of Assets | 62.11M | 340.00K | 4.16M | 7.42M | 4.49M | 958.00K |
| Other Unusual Items | -995.00K | -21.00M | 46.71M | 7.89M | -38.00K | |
| Pretax Income | 1.07B | 61.03M | 247.51M | 719.96M | 893.72M | 821.40M |
| Income Tax Expense | 215.05M | -9.36M | -38.34M | 59.57M | 146.63M | 164.11M |
| Earnings From Continuing Operations | 853.52M | 70.39M | 285.85M | 660.39M | 747.09M | 657.29M |
| Minority Interest in Earnings | -7.97M | -7.58M | -6.96M | -12.66M | -9.40M | -6.38M |
| Net Income | 845.55M | 62.80M | 278.88M | 647.73M | 737.69M | 650.91M |
| Net Income to Common | 845.55M | 62.80M | 278.88M | 647.73M | 737.69M | 650.91M |
| Shares Outstanding (Basic) | 167.30M | 158.48M | 159.51M | 159.86M | 161.00M | 162.45M |
| Shares Outstanding (Diluted) | 167.30M | 160.16M | 161.42M | 162.39M | 164.12M | 167.10M |
| EPS (Basic) | 5.05 | 0.40 | 1.75 | 4.05 | 4.58 | 4.01 |
| EPS (Diluted) | 5.05 | 0.39 | 1.73 | 3.99 | 4.49 | 3.90 |
| Free Cash Flow | 679.24M | 506.82M | 343.78M | 422.43M | 430.29M | |
| Free Cash Flow Per Share | 4.24 | 3.14 | 2.12 | 2.57 | 2.58 | |
| Gross Margin | 26.79% | 24.01% | 22.36% | 24.23% | 23.42% | 26.20% |
| Operating Margin | 9.64% | 6.63% | 4.90% | 8.82% | 10.71% | 11.26% |
| Profit Margin | 12.48% | 1.02% | 4.88% | 9.54% | 11.29% | 13.73% |
| Free Cash Flow Margin | 11.07% | 8.87% | 5.07% | 6.47% | 9.07% | |
| EBITDA | 1.18B | 915.41M | 783.94M | 1.10B | 1.09B | 850.45M |
| EBITDA Margin | 17.46% | 14.92% | 13.72% | 16.22% | 16.75% | 17.94% |
| D&A For EBITDA | 530.08M | 508.50M | 503.82M | 502.01M | 394.72M | 316.39M |
| EBIT | 652.98M | 406.90M | 280.12M | 598.93M | 699.40M | 534.07M |
| EBIT Margin | 9.64% | 6.63% | 4.90% | 8.82% | 10.71% | 11.26% |
| Effective Tax Rate | 20.12% | 8.27% | 16.41% | 19.98% | ||
| Revenue as Reported | 6.78B | 6.14B | 5.72B | 6.79B | 6.53B |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 88.67M | 75.97M | 126.50M | 127.02M | 68.91M | |
| Cash & Short-Term Investments | 163.74M | 88.67M | 75.97M | 126.50M | 127.02M | 68.91M |
| Accounts Receivable | 643.21M | 590.58M | 798.29M | 676.57M | 469.09M | |
| Other Receivables | 8.28M | 35.06M | 23.60M | 18.58M | 1.07M | |
| Receivables | 651.49M | 625.65M | 821.89M | 720.16M | 495.17M | |
| Inventory | 527.74M | 576.84M | 758.74M | 673.62M | 457.46M | |
| Prepaid Expenses | 85.18M | 81.29M | 105.66M | 85.67M | 53.71M | |
| Restricted Cash | 16.69M | 37.58M | 292.00K | 315.00K | 166.00K | |
| Other Current Assets | 183.61M | 42.11M | 42.59M | 31.32M | 13.60M | |
| Total Current Assets | 1.55B | 1.44B | 1.86B | 1.64B | 1.09B | |
| Property, Plant & Equipment | 3.02B | 2.92B | 3.14B | 2.65B | 2.00B | |
| Long-Term Investments | 2.21B | 2.26B | 2.25B | 1.93B | 1.35B | |
| Goodwill | 2.46B | 2.32B | 2.48B | 1.97B | 1.22B | |
| Other Intangible Assets | 845.00M | 898.41M | 1.08B | 865.12M | 397.80M | |
| Long-Term Deferred Tax Assets | 24.54M | 22.37M | 17.71M | 17.89M | 16.21M | |
| Other Long-Term Assets | 190.18M | 199.59M | 234.96M | 136.27M | 66.80M | |
| Total Assets | 10.30B | 10.07B | 11.06B | 9.20B | 6.13B | |
| Accounts Payable | 371.08M | 348.70M | 425.59M | 472.49M | 307.12M | |
| Accrued Expenses | 468.00M | 421.81M | 441.00M | 432.02M | 350.68M | |
| Current Portion of Long-Term Debt | 73.14M | 133.02M | 60.70M | 69.85M | 24.41M | |
| Current Portion of Leases | 63.82M | 62.76M | 55.33M | 49.23M | 38.17M | |
| Current Income Taxes Payable | 16.02M | 9.72M | 15.52M | 44.85M | 32.31M | |
| Other Current Liabilities | 42.59M | 67.48M | ||||
| Total Current Liabilities | 1.03B | 1.04B | 998.14M | 1.07B | 752.68M | |
| Long-Term Debt | 3.86B | 3.91B | 4.37B | 3.31B | 1.44B | |
| Long-Term Leases | 166.08M | 152.33M | 154.90M | 141.70M | 120.31M | |
| Pension & Post-Retirement Benefits | 17.02M | 17.68M | 20.72M | 22.54M | 36.27M | |
| Long-Term Deferred Tax Liabilities | 240.56M | 293.02M | 498.17M | 481.83M | 362.94M | |
| Other Long-Term Liabilities | 172.44M | 190.67M | 329.09M | 276.39M | 74.76M | |
| Total Liabilities | 5.49B | 5.61B | 6.37B | 5.31B | 2.79B | |
| Common Stock | 1.76M | 1.75M | 1.74M | 1.74M | 1.72M | |
| Additional Paid-In Capital | 1.72B | 1.72B | 1.70B | 1.66B | 1.63B | |
| Retained Earnings | 4.07B | 4.01B | 3.73B | 3.09B | 2.35B | |
| Treasury Stock | -719.28M | -672.71M | -629.01M | -554.45M | -374.72M | |
| Comprehensive Income & Other | -339.19M | -684.24M | -198.35M | -383.87M | -321.69M | |
| Total Common Equity | 5.25B | 4.74B | 4.38B | 4.61B | 3.81B | 3.28B |
| Minority Interest | 72.60M | 86.48M | 88.26M | 87.47M | 66.83M | |
| Shareholders' Equity | 5.31B | 4.81B | 4.46B | 4.69B | 3.90B | 3.35B |
| Total Liabilities & Equity | 10.30B | 10.07B | 11.06B | 9.20B | 6.13B | |
| Total Debt | 4.17B | 4.16B | 4.26B | 4.64B | 3.58B | 1.62B |
| Net Cash (Debt) | -4.01B | -4.07B | -4.18B | -4.51B | -3.45B | -1.55B |
| Net Cash Per Share | -23.95 | -25.43 | -25.90 | -27.78 | -21.01 | -9.29 |
| Filing Date Shares Outstanding | 157.05M | 158.60M | 158.87M | 159.61M | 159.95M | 161.10M |
| Total Common Shares Outstanding | 157.05M | 158.19M | 158.90M | 159.53M | 159.97M | 160.79M |
| Working Capital | 518.72M | 395.93M | 857.53M | 569.65M | 336.33M | |
| Book Value Per Share | 33.24 | 29.94 | 27.55 | 28.87 | 23.81 | 20.40 |
| Tangible Book Value | 1.87B | 1.43B | 1.16B | 1.05B | 973.52M | 1.66B |
| Tangible Book Value Per Share | 11.85 | 9.06 | 7.28 | 6.55 | 6.09 | 10.35 |
| Land | 212.23M | 203.51M | 217.11M | 201.57M | 161.24M | |
| Buildings | 1.09B | 1.02B | 1.03B | 873.08M | 701.59M | |
| Machinery | 4.01B | 3.63B | 3.56B | 3.13B | 2.64B | |
| Construction In Progress | 474.69M | 440.65M | 487.34M | 310.18M | 194.77M |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 62.80M | 278.88M | 647.73M | 737.69M | 650.91M | |
| Depreciation & Amortization | 508.50M | 503.82M | 502.01M | 394.72M | 316.39M | |
| Other Amortization | 5.50M | 5.62M | 6.87M | 4.98M | 5.17M | |
| Loss (Gain) From Sale of Assets | -340.00K | -4.16M | -7.42M | -4.49M | -958.00K | |
| Asset Writedown & Restructuring Costs | 57.80M | 4.73M | 29.67M | 138.00K | ||
| Loss (Gain) on Equity Investments | 407.78M | 23.84M | -203.11M | -281.90M | -352.77M | |
| Stock-Based Compensation | 21.80M | 20.92M | 33.16M | 25.00M | 21.84M | |
| Other Operating Activities | -47.00M | -244.95M | -32.52M | 49.10M | 98.45M | |
| Change in Accounts Receivable | -50.09M | 179.84M | -10.83M | -56.54M | -79.95M | |
| Change in Inventory | 24.00M | 163.78M | 49.58M | -130.17M | -72.92M | |
| Change in Accounts Payable | 27.37M | -17.88M | -82.94M | 65.94M | 84.58M | |
| Change in Income Taxes | 33.44M | -17.34M | -39.93M | -3.50M | 18.83M | |
| Change in Other Net Operating Assets | 8.15M | -53.08M | 31.94M | -16.76M | 14.72M | |
| Operating Cash Flow | 1.06B | 839.29M | 899.26M | 813.74M | 704.42M | |
| Capital Expenditures | -380.48M | -332.46M | -555.48M | -391.31M | -274.13M | |
| Sale of Property, Plant & Equipment | 12.24M | 21.30M | 10.75M | 13.44M | 4.64M | |
| Cash Acquisitions | -116.71M | -1.09B | -1.77B | -2.06M | ||
| Sale (Purchase) of Intangibles | -12.00K | -16.00K | -1.52M | -1.49M | -274.00K | |
| Investment in Securities | -328.23M | -90.03M | -75.03M | -264.75M | -193.45M | |
| Other Investing Activities | 15.03M | 19.02M | 39.01M | -25.00M | ||
| Investing Cash Flow | -681.45M | -498.90M | -1.68B | -2.42B | -490.26M | |
| Short-Term Debt Issued | 41.45M | 24.07M | ||||
| Long-Term Debt Issued | 3.06B | 1.44B | 3.48B | 3.81B | 664.42M | |
| Total Debt Issued | 3.06B | 1.48B | 3.48B | 3.83B | 664.42M | |
| Short-Term Debt Repaid | -4.07M | -9.78M | -3.85M | |||
| Long-Term Debt Repaid | -3.23B | -1.83B | -2.51B | -1.96B | -657.56M | |
| Total Debt Repaid | -3.24B | -1.83B | -2.52B | -1.96B | -661.40M | |
| Net Debt Issued (Repaid) | -180.66M | -346.81M | 959.41M | 1.87B | 3.02M | |
| Issuance of Common Stock | 413.00K | 447.00K | 50.00K | |||
| Repurchase of Common Stock | -41.58M | -42.26M | -70.24M | -172.47M | -214.60M | |
| Other Financing Activities | -154.90M | -10.94M | -12.88M | -21.31M | -9.83M | |
| Financing Cash Flow | -376.73M | -399.56M | 876.29M | 1.68B | -221.36M | |
| Foreign Exchange Rate Adjustments | -15.31M | 12.03M | 14.18M | 5.30M | -5.45M | |
| Net Cash Flow | -13.77M | -47.14M | 114.28M | 81.10M | -12.65M | |
| Free Cash Flow | 679.24M | 506.82M | 343.78M | 422.43M | 430.29M | |
| Free Cash Flow Margin | 11.07% | 8.87% | 5.07% | 6.47% | 9.07% | |
| Free Cash Flow Per Share | 4.24 | 3.14 | 2.12 | 2.57 | 2.58 | |
| Levered Free Cash Flow | 219.43M | 545.61M | -87.99M | 158.84M | 331.06M | |
| Unlevered Free Cash Flow | 352.85M | 698.65M | 67.16M | 232.34M | 364.69M | |
| Cash Interest Paid | 202.96M | 243.68M | 261.32M | 113.36M | 58.45M | |
| Cash Income Tax Paid | 58.42M | -102.70M | -152.70M | 113.01M | 46.40M | |
| Change in Working Capital | 42.87M | 255.32M | -52.18M | -141.03M | -34.74M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.56B | 5.95B | 5.32B | 7.95B | 10.03B | 11.21B |
| Enterprise Value | 12.57B | 10.28B | 9.75B | 12.54B | 13.46B | 12.75B |
| Last Close Price | 55.73 | 37.64 | 33.46 | 49.84 | 62.59 | 69.29 |
| PE Ratio | 10.75 | 94.81 | 19.08 | 12.28 | 13.60 | 17.23 |
| Forward PE | 7.54 | 18.26 | 11.09 | 11.84 | 9.39 | 13.43 |
| PS Ratio | 1.26 | 0.97 | 0.93 | 1.17 | 1.54 | 2.37 |
| PB Ratio | 1.68 | 1.24 | 1.19 | 1.69 | 2.57 | 3.35 |
| P/TBV Ratio | 4.55 | 4.16 | 4.60 | 7.61 | 10.30 | 6.74 |
| P/FCF Ratio | 9.66 | 8.77 | 10.50 | 23.13 | 23.75 | 26.06 |
| P/OCF Ratio | 6.30 | 5.62 | 6.34 | 8.84 | 12.33 | 15.92 |
| PEG Ratio | 0.05 | 0.58 | 0.32 | 1.18 | 1.04 | 1.16 |
| EV/Sales Ratio | 1.85 | 1.68 | 1.71 | 1.85 | 2.06 | 2.69 |
| EV/EBITDA Ratio | 10.58 | 11.23 | 12.44 | 11.39 | 12.30 | 14.99 |
| EV/EBIT Ratio | 19.17 | 25.27 | 34.82 | 20.93 | 19.24 | 23.88 |
| EV/FCF Ratio | 14.20 | 15.14 | 19.25 | 36.47 | 31.85 | 29.64 |
| Debt / Equity Ratio | 0.79 | 0.86 | 0.95 | 0.99 | 0.92 | 0.48 |
| Debt / EBITDA Ratio | 3.53 | 4.08 | 4.81 | 3.88 | 3.04 | 1.76 |
| Debt / FCF Ratio | 6.13 | 8.40 | 13.49 | 8.46 | 3.77 | |
| Net Debt / Equity Ratio | 0.76 | 0.85 | 0.94 | 0.96 | 0.89 | 0.46 |
| Net Debt / EBITDA Ratio | 3.39 | 4.45 | 5.33 | 4.10 | 3.15 | 1.83 |
| Net Debt / FCF Ratio | 6.00 | 8.25 | 13.12 | 8.16 | 3.61 | |
| Asset Turnover | 0.60 | 0.54 | 0.67 | 0.85 | 0.81 | |
| Inventory Turnover | 8.44 | 6.64 | 7.18 | 8.85 | 8.11 | |
| Quick Ratio | 0.71 | 0.67 | 0.95 | 0.77 | 0.72 | |
| Current Ratio | 1.50 | 1.38 | 1.86 | 1.53 | 1.45 | |
| Return on Equity (ROE) | 1.52% | 6.24% | 15.38% | 20.63% | 20.86% | |
| Return on Assets (ROA) | 2.50% | 1.66% | 3.69% | 5.70% | 5.68% | |
| Return on Invested Capital (ROIC) | 5.60% | 4.64% | 3.14% | 6.64% | 9.55% | 9.06% |
| Return on Capital Employed (ROCE) | 4.40% | 3.10% | 6.00% | 8.60% | 9.90% | |
| Earnings Yield | 9.30% | 1.05% | 5.24% | 8.15% | 7.35% | 5.81% |
| FCF Yield | 10.36% | 11.41% | 9.52% | 4.32% | 4.21% | 3.84% |
| Buyback Yield / Dilution | -4.91% | 0.78% | 0.60% | 1.06% | 1.78% | 0.07% |