Darling Ingred Financials
This page shows Darling Ingred (DAR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash generation now diverges sharply from accounting profit as gross margin recovery is absorbed by overhead, depreciation, and interest.
From FY2024 to FY2026, operating cash flow climbed from$839M to$1.06B . Over that same span, net income fell from$279M to$63M , so the business is turning reported earnings into cash much better than the income statement alone suggests. That gap lines up with heavy non-cash charges—depreciation was$509M in FY2026—and with moderated reinvestment, letting free cash flow reach$679M despite the thin bottom line.
Gross margin returned to
Balance-sheet posture is steadier than the small cash balance suggests: cash was only
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Darling Ingred's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Darling Ingred has an operating margin of 4.5%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 39/100, indicating healthy but not exceptional operating efficiency. This is down from 8.2% the prior year.
Darling Ingred's revenue grew 7.4% year-over-year to $6.1B, a solid pace of expansion. This earns a growth score of 25/100.
Darling Ingred carries a low D/E ratio of 0.82, meaning only $0.82 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.
Darling Ingred's current ratio of 1.50 is below the typical benchmark, resulting in a score of 26/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Darling Ingred has a free cash flow margin of 11.1%, earning a moderate score of 48/100. The company generates positive cash flow after capital investments, but with room for improvement.
Darling Ingred generates a 1.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 23/100. This is down from 6.4% the prior year.
Darling Ingred scores 2.40, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Darling Ingred passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Darling Ingred generates $16.87 in operating cash flow ($1.1B OCF vs $62.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Darling Ingred earns $1.2 in operating income for every $1 of interest expense ($273.4M vs $222.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Darling Ingred generated $6.1B in revenue in fiscal year 2026. This represents an increase of 7.4% from the prior year.
Darling Ingred's EBITDA was $781.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.6% from the prior year.
Darling Ingred reported $62.8M in net income in fiscal year 2026. This represents a decrease of 77.5% from the prior year.
Darling Ingred earned $0.39 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 77.5% from the prior year.
Cash & Balance Sheet
Darling Ingred generated $679.2M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 34.0% from the prior year.
Darling Ingred held $88.7M in cash against $3.9B in long-term debt as of fiscal year 2026.
Darling Ingred had 159M shares outstanding in fiscal year 2026.
Margins & Returns
Darling Ingred's gross margin was 24.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.
Darling Ingred's operating margin was 4.5% in fiscal year 2026, reflecting core business profitability. This is down 3.7 percentage points from the prior year.
Darling Ingred's net profit margin was 1.0% in fiscal year 2026, showing the share of revenue converted to profit. This is down 3.9 percentage points from the prior year.
Darling Ingred's ROE was 1.3% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 5.0 percentage points from the prior year.
Capital Allocation
Darling Ingred spent $34.7M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 1.2% from the prior year.
Darling Ingred invested $380.5M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 14.4% from the prior year.
DAR Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7B+9.3% | $1.6B+5.6% | $1.5B+7.3% | $1.4B-2.6% | $1.4B-0.3% | $1.4B-2.3% | $1.5B+2.5% | $1.4B |
| Cost of Revenue | $1.3B+8.8% | $1.2B+3.6% | $1.1B+6.2% | $1.1B-1.4% | $1.1B-2.2% | $1.1B-1.8% | $1.1B+1.1% | $1.1B |
| Gross Profit | $429.2M+10.9% | $387.0M+11.9% | $345.9M+11.1% | $311.4M-6.7% | $333.8M+6.4% | $313.6M-4.1% | $326.9M+7.7% | $303.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $151.9M+8.8% | $139.6M+1.1% | $138.1M+13.6% | $121.6M+13.1% | $107.5M-7.1% | $115.7M-10.8% | $129.7M-6.8% | $139.1M |
| Operating Income | $97.4M+35.9% | $71.7M-5.5% | $75.9M+167.1% | $28.4M-76.8% | $122.4M+103.7% | $60.1M-59.5% | $148.5M+8.3% | $137.2M |
| Interest Expense | $55.5M-2.5% | $56.9M+9.7% | $51.9M-10.5% | $58.0M+5.6% | $54.9M-17.9% | $66.8M-3.4% | $69.2M+10.1% | $62.9M |
| Income Tax | -$11.0M-783.2% | -$1.2M-130.7% | $4.1M+452.3% | -$1.2M+95.5% | -$25.5M-46.2% | -$17.5M-2357.2% | $774K-80.2% | $3.9M |
| Net Income | $56.9M+194.1% | $19.4M+52.9% | $12.7M+148.4% | -$26.2M-125.7% | $101.9M+501.3% | $16.9M-78.5% | $78.9M-2.8% | $81.2M |
| EPS (Diluted) | N/A | $0.12+50.0% | $0.08+150.0% | $-0.16 | N/A | $0.11-77.6% | $0.49-2.0% | $0.50 |
DAR Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.3B-1.5% | $10.5B+1.7% | $10.3B+2.4% | $10.0B-0.4% | $10.1B-4.8% | $10.6B-0.5% | $10.6B-2.9% | $10.9B |
| Current Assets | $1.6B+3.4% | $1.5B+0.5% | $1.5B+2.8% | $1.5B+1.1% | $1.4B-3.8% | $1.5B-0.7% | $1.5B-6.9% | $1.6B |
| Cash & Equivalents | $88.7M-3.1% | $91.5M-3.3% | $94.6M+16.1% | $81.5M+7.2% | $76.0M-33.8% | $114.8M-5.6% | $121.6M-16.4% | $145.5M |
| Inventory | $527.7M-15.2% | $622.3M+2.8% | $605.3M+1.7% | $595.4M+3.2% | $576.8M-6.6% | $617.8M-1.6% | $627.7M-8.7% | $687.5M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $2.5B-1.6% | $2.5B+0.9% | $2.5B+3.7% | $2.4B+2.9% | $2.3B-5.4% | $2.5B+1.6% | $2.4B-3.2% | $2.5B |
| Total Liabilities | $5.5B-3.4% | $5.7B+1.8% | $5.6B+1.6% | $5.5B-2.0% | $5.6B-5.6% | $5.9B-2.3% | $6.1B-2.9% | $6.3B |
| Current Liabilities | $1.0B+2.4% | $1.0B+1.3% | $996.7M-3.8% | $1.0B-0.7% | $1.0B-1.8% | $1.1B+10.3% | $963.1M-0.4% | $967.3M |
| Long-Term Debt | $3.9B-4.1% | $4.0B+2.5% | $3.9B+3.3% | $3.8B-2.7% | $3.9B-5.4% | $4.1B-4.3% | $4.3B-1.0% | $4.4B |
| Total Equity | $4.7B+1.0% | $4.7B+1.6% | $4.6B+3.7% | $4.4B+1.6% | $4.4B-3.8% | $4.6B+2.0% | $4.5B-2.9% | $4.6B |
| Retained Earnings | $4.1B+1.4% | $4.0B+0.5% | $4.0B+0.3% | $4.0B-0.7% | $4.0B+2.6% | $3.9B+0.4% | $3.9B+2.1% | $3.8B |
DAR Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $440.6M+96.4% | $224.3M+53.9% | $145.8M-41.4% | $249.0M+61.2% | $154.4M-43.7% | $274.5M+87.3% | $146.5M-44.5% | $263.9M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$234.6M+18.4% | -$287.5M-164.4% | -$108.7M-114.6% | -$50.7M-9.4% | -$46.3M+28.7% | -$64.9M+32.8% | -$96.7M+66.8% | -$291.0M |
| Financing Cash Flow | -$208.2M-541.0% | $47.2M+254.6% | -$30.5M+83.5% | -$185.2M-11.4% | -$166.3M+17.3% | -$201.0M-148.3% | -$81.0M-266.1% | $48.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0-100.0% | $34.7M+582.4% | $5.1M | $0-100.0% | $29.2M | $0 |
DAR Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.1%+0.4pp | 24.8%+1.4pp | 23.4%+0.8pp | 22.6%-1.0pp | 23.5%+1.5pp | 22.1%-0.4pp | 22.5%+1.1pp | 21.4% |
| Operating Margin | 5.7%+1.1pp | 4.6%-0.5pp | 5.1%+3.1pp | 2.1%-6.6pp | 8.6%+4.4pp | 4.2%-6.0pp | 10.2%+0.5pp | 9.7% |
| Net Margin | 3.3%+2.1pp | 1.2%+0.4pp | 0.9%+2.7pp | -1.9%-9.1pp | 7.2%+6.0pp | 1.2%-4.2pp | 5.4%-0.3pp | 5.7% |
| Return on Equity | 1.2%+0.8pp | 0.4%+0.1pp | 0.3%+0.9pp | -0.6%-2.9pp | 2.3%+2.0pp | 0.4%-1.4pp | 1.8%0.0pp | 1.8% |
| Return on Assets | 0.5%+0.4pp | 0.2%+0.1pp | 0.1%+0.4pp | -0.3%-1.3pp | 1.0%+0.8pp | 0.2%-0.6pp | 0.7%0.0pp | 0.7% |
| Current Ratio | 1.50+0.0 | 1.49-0.0 | 1.50+0.1 | 1.40+0.0 | 1.38-0.0 | 1.41-0.2 | 1.57-0.1 | 1.67 |
| Debt-to-Equity | 0.82-0.0 | 0.860.0 | 0.850.0 | 0.86-0.0 | 0.89-0.0 | 0.91-0.1 | 0.97+0.0 | 0.95 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Similar Companies
Frequently Asked Questions
What is Darling Ingred's annual revenue?
Darling Ingred (DAR) reported $6.1B in total revenue for fiscal year 2026. This represents a 7.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Darling Ingred's revenue growing?
Darling Ingred (DAR) revenue grew by 7.4% year-over-year, from $5.7B to $6.1B in fiscal year 2026.
Is Darling Ingred profitable?
Yes, Darling Ingred (DAR) reported a net income of $62.8M in fiscal year 2026, with a net profit margin of 1.0%.
What is Darling Ingred's EBITDA?
Darling Ingred (DAR) had EBITDA of $781.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Darling Ingred have?
As of fiscal year 2026, Darling Ingred (DAR) had $88.7M in cash and equivalents against $3.9B in long-term debt.
What is Darling Ingred's gross margin?
Darling Ingred (DAR) had a gross margin of 24.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Darling Ingred's operating margin?
Darling Ingred (DAR) had an operating margin of 4.5% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Darling Ingred's net profit margin?
Darling Ingred (DAR) had a net profit margin of 1.0% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Darling Ingred's return on equity (ROE)?
Darling Ingred (DAR) has a return on equity of 1.3% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Darling Ingred's free cash flow?
Darling Ingred (DAR) generated $679.2M in free cash flow during fiscal year 2026. This represents a 34.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Darling Ingred's operating cash flow?
Darling Ingred (DAR) generated $1.1B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Darling Ingred's total assets?
Darling Ingred (DAR) had $10.3B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Darling Ingred's capital expenditures?
Darling Ingred (DAR) invested $380.5M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Darling Ingred's current ratio?
Darling Ingred (DAR) had a current ratio of 1.50 as of fiscal year 2026, which is generally considered healthy.
What is Darling Ingred's debt-to-equity ratio?
Darling Ingred (DAR) had a debt-to-equity ratio of 0.82 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Darling Ingred's return on assets (ROA)?
Darling Ingred (DAR) had a return on assets of 0.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Darling Ingred's Altman Z-Score?
Darling Ingred (DAR) has an Altman Z-Score of 2.40, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Darling Ingred's Piotroski F-Score?
Darling Ingred (DAR) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Darling Ingred's earnings high quality?
Darling Ingred (DAR) has an earnings quality ratio of 16.87x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Darling Ingred cover its interest payments?
Darling Ingred (DAR) has an interest coverage ratio of 1.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Darling Ingred?
Darling Ingred (DAR) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.