DARLING INGREDIENTS INC. DAR

Consumer staples SIC 2070 - Fats & Oils NYSE

Founded by the Swift meat packing interests and the Darling family in 1882, Darling Ingredients Inc. ("Darling", and together with its subsidiaries, the "Company" or "we," "us" or "our") was incorporated in Delaware in 1962 under the name "Darling-Delaware Company, Inc." Darling changed its name from "Darling-Delaware Company, Inc." to "Darling International Inc." on December 28, 1993, and from "Darling International Inc." to "Darling Ingredients Inc." on May 6, 2014. The address of Darling's principal executive office is 5601 N MacArthur Boulevard, Irving, Texas, 75038, and its telephone number at this address is (972) 717-0300.

We are a global developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a wide range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, animal feed, industrial, fuel, bioenergy and fertilizer industries. With operations on five continents, the Company collects and transforms all aspects of animal by-product streams into useable and specialty ingredients, such as collagen, edible fats, feed-grade fats, animal proteins and meals, plasma, pet food ingredients, organic fertilizers, yellow grease, fuel feedstocks, agriculture-based biofuels, natural casings and hides. The Company also recovers and converts recycled oils (used cooking oil and animal fats) into valuable fuel and feed ingredients, and collects and processes residual bakery products into feed ingredients. In addition, the Company provides environmental services, such as grease trap collection and disposal services to food service establishments. In fiscal year 2025, the Company generated $6.1 billion in revenues and $62.8 million in net income attributable to Darling.

Last close 65.19 2026-09-04
Market cap $10.29B 2026-07-04 share count
52-week range 29.15 - 69.98

Valuation FY2025 figures against the last close

P/S1.7x
P/E167.2x
P/FCF15.1x
EV/EBITDA15.2x
Dividend yield
Diluted EPS0.39

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $6.14B$5.72B$6.79B$6.53B$4.74B$3.57B$3.36B$3.39B$3.66B$3.39B
Cost of revenue $4.66B$4.44B$5.14B$5.00B$3.50B$2.69B$2.59B$2.65B$2.88B$2.64B
Gross profit $1.47B$1.28B$1.65B$1.53B$1.24B$883.1M$774.8M$741.4M$786.6M$756.6M
SG&A $551.2M$492.1M$542.5M$436.6M$391.5M$378.5M$358.5M$309.3M$343.5M$311.6M
Total operating expenses $5.81B$5.40B$6.20B$5.88B$4.21B$3.46B$3.25B$3.29B$3.52B$3.24B
Operating income $273.4M$468.2M$949.7M$1.03B$884.5M$430.9M$475.8M$255.0M$169.4M$154.7M
Interest expense $222.3M$253.9M$259.2M$125.6M$62.1M$72.7M$78.7M$86.4M$88.9M$94.2M
Pre-tax income $61.0M$247.5M$720.0M$893.7M$821.4M$353.6M$380.4M$118.0M$64.2M$122.5M
Income tax $9.4M$38.3M$59.6M$146.6M$164.1M$53.3M$59.5M$12.0M$69.2M$15.3M
Net income $62.8M$278.9M$647.7M$737.7M$650.9M$296.8M$312.6M$101.5M$128.5M$102.3M
EPS, basic 0.401.754.054.584.011.831.900.620.780.62
EPS, diluted 0.391.733.994.493.901.781.860.600.770.62
Shares, diluted (wtd. avg.) $160.2M$161.4M$162.4M$164.1M$167.1M$167.2M$168.4M$167.9M$166.7M$165.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $88.7M$76.0M$264.4M$150.2M$69.1M$81.7M$73.0M$107.4M$106.9M$114.9M
Receivables $676.6M$469.1M$405.4M$406.3M$385.7M$391.8M$388.4M
Inventory $527.7M$576.8M$758.7M$673.6M$457.5M$405.9M$363.0M$341.0M$358.2M$330.8M
Total current assets $1.55B$1.44B$1.86B$1.64B$1.09B$987.0M$917.3M$897.9M$956.4M$893.3M
Property, plant and equipment $2.80B$2.71B$2.94B$2.46B$1.84B$1.86B$1.80B$1.69B$1.65B$1.52B
Goodwill $2.46B$2.32B$2.48B$1.97B$1.22B$1.26B$1.22B$8.4M$19.6M$1.23B
Other intangibles $845.0M$898.4M$1.08B$865.1M$397.8M$473.7M$526.4M$595.9M$676.5M$711.9M
Total assets $10.30B$10.07B$11.06B$9.20B$6.13B$5.61B$5.35B$4.89B$4.96B$4.70B
Total current liabilities $1.03B$1.04B$998.1M$1.07B$752.7M$675.3M$688.3M$540.5M$559.5M$451.9M
Total liabilities $5.49B$5.61B$6.37B$5.31B$2.79B$2.66B$2.70B$2.55B$2.63B$2.62B
Retained earnings $4.07B$4.01B$3.73B$3.09B$2.35B$1.70B$1.40B$1.09B$981.2M$852.8M
Total equity $4.74B$4.38B$4.69B$3.90B$3.35B$2.95B$2.64B$2.34B$2.33B$2.08B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.06B$839.3M$899.3M$813.7M$704.4M$624.7M$362.6M$398.6M$410.4M$391.0M
Depreciation and amortisation $403.5M$391.6M$377.2M$306.0M$249.0M$276.2M$251.9M
Stock-based compensation $21.8M$20.9M$33.2M$25.0M$21.8M$23.2M$21.0M$18.8M$17.6M$10.3M
Capital expenditure $380.5M$332.5M$555.5M$391.3M$274.1M$280.1M$359.5M$321.9M$274.2M$243.5M
Investing cash flow -$681.4M-$498.9M-$1.68B-$2.42B-$490.3M-$310.6M-$338.1M-$342.4M-$284.1M-$243.2M
Financing cash flow -$376.7M-$399.6M$876.3M$1.68B-$221.4M-$307.0M-$54.9M-$47.6M-$154.9M-$183.9M
Buybacks $34.7M$34.3M$52.9M$125.5M$167.7M$55.0M$19.3M$0$0$5.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000916540-26-000008.

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