Darling Ingredients (DAR) Financials

$32.68 +0.22 (+0.69%)

As of 03:01 PM Eastern

Annual Income Statements for Darling Ingredients

This table shows Darling Ingredients' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/2/2016	12/31/2016	12/30/2017	12/29/2018	12/28/2019	1/2/2021	1/1/2022	12/31/2022	12/30/2023	12/28/2024
Net Income / (Loss) Attributable to Common Shareholders	79	102	128	101	313	297	651	738	648	279
Consolidated Net Income / (Loss)	85	107	133	106	321	300	657	747	660	286
Net Income / (Loss) Continuing Operations	85	107	133	106	321	300	657	747	660	286
Total Pre-Tax Income	99	123	64	118	380	354	821	894	720	248
Total Operating Income	143	155	169	255	476	431	884	1,029	950	468
Total Gross Profit	737	757	787	741	775	883	1,242	1,530	1,645	1,278
Total Revenue	3,391	3,392	3,662	3,388	3,364	3,572	4,741	6,532	6,788	5,715
Operating Revenue	3,391	3,392	3,662	3,388	3,364	3,572	4,741	6,532	6,788	5,715
Total Cost of Revenue	2,654	2,635	2,876	2,646	2,589	2,689	3,499	5,003	5,143	4,437
Operating Cost of Revenue	2,654	2,635	2,876	2,646	2,589	2,689	3,499	5,003	5,143	4,437
Total Operating Expenses	595	602	617	486	299	452	358	501	695	810
Selling, General & Admin Expense	316	312	344	309	359	378	392	437	543	492
Depreciation Expense	270	290	302	321	326	350	316	395	502	504
Other Operating Expenses / (Income)	-	-	-28	-160	-364	-315	-352	-372	-366	-149
Restructuring Charge	8.30	0.40	0.00	15	0.00	38	2.17	46	32	14
Other Special Charges / (Income)	-	-	-0.24	0.71	-21	0.43	-0.96	-4.49	-15	-51
Total Other Income / (Expense), net	-44	-32	-105	-137	-95	-77	-63	-135	-230	-221
Interest Expense	106	94	89	110	91	73	62	126	259	254
Interest & Investment Income	73	70	0.27	-0.55	0.43	3.19	5.75	5.10	5.01	12
Other Income / (Expense), net	-12	-8.39	-17	-27	-5.02	-7.82	-6.75	-15	24	21
Income Tax Expense	14	15	-69	12	59	53	164	147	60	-38
Net Income / (Loss) Attributable to Noncontrolling Interest	6.75	4.91	4.89	4.45	8.37	3.51	6.38	9.40	13	6.97
Basic Earnings per Share	$0.48	$0.62	$0.78	$0.62	$1.90	$1.83	$4.01	$4.58	$4.05	$1.75
Weighted Average Basic Shares Outstanding	165.03M	164.60M	164.75M	164.79M	163.92M	162.60M	161.10M	159.95M	159.61M	158.87M
Diluted Earnings per Share	$0.48	$0.62	$0.77	$0.60	$1.86	$1.78	$3.90	$4.49	$3.99	$1.73
Weighted Average Diluted Shares Outstanding	165.03M	164.60M	164.75M	164.79M	163.92M	162.60M	161.10M	159.95M	159.61M	158.87M
Weighted Average Basic & Diluted Shares Outstanding	165.03M	164.60M	164.75M	164.79M	163.92M	162.60M	161.10M	159.95M	159.61M	158.87M

This table shows Darling Ingredients' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	10/1/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024
Net Income / (Loss) Attributable to Common Shareholders	191	157	186	252	125	85	81	79	17	102
Consolidated Net Income / (Loss)	192	159	190	255	128	87	82	81	19	104
Net Income / (Loss) Continuing Operations	192	159	190	255	128	87	82	81	19	104
Total Pre-Tax Income	228	197	217	296	113	95	85	82	1.64	78
Total Operating Income	268	249	256	357	178	159	137	149	60	122
Total Gross Profit	376	389	424	398	386	436	304	327	314	334
Total Revenue	1,748	1,768	1,791	1,758	1,625	1,614	1,420	1,455	1,422	1,418
Operating Revenue	1,748	1,768	1,791	1,758	1,625	1,614	1,420	1,455	1,422	1,418
Total Cost of Revenue	1,371	1,379	1,367	1,360	1,239	1,178	1,117	1,128	1,108	1,084
Operating Cost of Revenue	1,371	1,379	1,367	1,360	1,239	1,178	1,117	1,128	1,108	1,084
Total Operating Expenses	108	140	168	41	208	278	166	178	253	211
Selling, General & Admin Expense	105	122	135	137	138	133	139	130	116	108
Depreciation Expense	105	117	116	122	126	138	128	125	124	128
Other Operating Expenses / (Income)	-103	-123	-94	-213	-54	-4.69	-78	-44	-2.43	-24
Restructuring Charge	4.50	24	12	2.60	3.43	15	4.05	1.13	0.22	8.23
Other Special Charges / (Income)	-3.12	0.07	-0.33	-7.24	-4.63	-3.12	-26	-33	16	-8.55
Total Other Income / (Expense), net	-41	-52	-39	-61	-66	-64	-52	-66	-58	-44
Interest Expense	40	46	50	70	70	68	63	69	67	55
Interest & Investment Income	2.30	-0.83	0.12	1.85	1.53	1.51	2.31	3.02	3.78	2.89
Other Income / (Expense), net	-3.30	-5.03	11	7.57	3.09	2.62	8.89	-0.16	4.60	7.82
Income Tax Expense	35	38	27	41	-15	7.25	3.91	0.77	-17	-26
Net Income / (Loss) Attributable to Noncontrolling Interest	1.22	2.67	4.05	2.81	3.06	2.74	0.43	2.50	2.17	1.87
Basic Earnings per Share	$1.19	$0.97	$1.16	$1.58	$0.78	$0.53	$0.51	$0.49	$0.11	$0.64
Weighted Average Basic Shares Outstanding	160.27M	159.95M	159.56M	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M
Diluted Earnings per Share	$1.17	$0.95	$1.14	$1.55	$0.77	$0.53	$0.50	$0.49	$0.11	$0.63
Weighted Average Diluted Shares Outstanding	160.27M	159.95M	159.56M	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M
Weighted Average Basic & Diluted Shares Outstanding	160.27M	159.95M	159.56M	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M

This table details how cash moves in and out of Darling Ingredients' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/2/2016	12/31/2016	12/30/2017	12/29/2018	12/28/2019	1/2/2021	1/1/2022	12/31/2022	12/30/2023	12/28/2024
Net Change in Cash & Equivalents	48	-42	-7.94	0.45	-34	8.68	-13	81	114	-47
Net Cash From Operating Activities	421	391	410	399	363	625	704	814	899	839
Net Cash From Continuing Operating Activities	421	391	410	399	363	625	704	814	899	839
Net Income / (Loss) Continuing Operations	85	107	133	106	321	300	657	747	660	286
Consolidated Net Income / (Loss)	85	107	133	106	321	300	657	747	660	286
Depreciation Expense	270	290	302	321	326	350	316	395	502	504
Amortization Expense	10	11	8.74	7.87	5.85	5.36	4.04	4.98	6.22	5.62
Non-Cash Adjustments To Reconcile Net Income	8.09	-16	0.82	-32	-325	-65	-404	-362	-136	185
Changes in Operating Assets and Liabilities, net	48	-0.83	-35	-4.71	35	34	130	29	-133	-141
Net Cash From Investing Activities	-230	-243	-284	-342	-338	-311	-490	-2,417	-1,675	-499
Net Cash From Continuing Investing Activities	-230	-243	-284	-342	-338	-311	-490	-2,417	-1,675	-499
Purchase of Property, Plant & Equipment	-230	-244	-274	-322	-359	-280	-274	-391	-555	-332
Acquisitions	-4.22	-8.53	-19	-112	-5.08	-34	-191	-2,039	-1,170	-207
Other Investing Activities, net	4.40	8.87	14	21	23	3.09	-25	13	50	40
Net Cash From Financing Activities	-140	-184	-155	-48	-55	-307	-221	1,679	876	-400
Net Cash From Continuing Financing Activities	-140	-184	-155	-48	-55	-307	-221	1,679	876	-400
Repayment of Debt	-795	-312	-362	-696	-1,011	-755	-665	-1,953	-2,524	-1,790
Repurchase of Common Equity	-5.91	-5.00	0.00	0.00	-19	-55	-168	-126	-53	-34
Payment of Dividends	-3.38	-1.55	-23	-10	-6.53	-6.25	-6.02	-4.53	-9.08	-11
Issuance of Debt	669	137	233	1,172	987	530	664	3,809	3,483	1,443
Issuance of Common Equity	0.17	0.19	0.02	0.18	0.04	0.07	0.05	0.00	0.00	0.45
Other Financing Activities, net	-4.87	-1.84	-3.05	-513	-4.47	-21	-47	-47	-21	-8.14
Effect of Exchange Rate Changes	-3.60	-6.30	21	-8.17	-3.99	1.64	-5.45	5.30	14	12

This table details how cash moves in and out of Darling Ingredients' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	10/1/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024
Net Change in Cash & Equivalents	0.52	2.81	112	-18	9.41	11	28	-27	-4.65	-44
Net Cash From Operating Activities	277	175	188	217	277	217	264	147	274	154
Net Cash From Continuing Operating Activities	277	175	188	217	277	217	264	147	274	154
Net Income / (Loss) Continuing Operations	192	159	190	255	128	87	82	81	19	104
Consolidated Net Income / (Loss)	192	159	190	255	128	87	82	81	19	104
Depreciation Expense	105	117	116	122	126	138	128	125	124	128
Amortization Expense	1.35	1.43	1.62	1.52	1.54	1.54	1.40	1.40	1.42	1.42
Non-Cash Adjustments To Reconcile Net Income	-55	-85	-117	-106	18	69	1.42	11	139	34
Changes in Operating Assets and Liabilities, net	34	-18	-1.56	-55	2.92	-79	52	-72	-8.33	-113
Net Cash From Investing Activities	-598	-194	-1,257	-92	-158	-169	-291	-97	-65	-46
Net Cash From Continuing Investing Activities	-598	-194	-1,257	-92	-158	-169	-291	-97	-65	-46
Purchase of Property, Plant & Equipment	-106	-134	-111	-123	-146	-175	-94	-98	-67	-73
Acquisitions	-525	-39	-1,156	-	-14	-0.00	-200	-6.98	0.20	-0.00
Other Investing Activities, net	32	-21	10	31	2.08	6.11	2.76	8.24	2.27	27
Net Cash From Financing Activities	325	-4.30	1,173	-153	-118	-26	49	-81	-201	-166
Net Cash From Continuing Financing Activities	325	-4.30	1,173	-153	-118	-26	49	-81	-201	-166
Repayment of Debt	-806	-174	-263	-867	-674	-720	-533	-587	-406	-264
Repurchase of Common Equity	-37	-22	-44	-9.15	-	-	0.00	-29	-	-5.08
Payment of Dividends	-3.65	-0.88	-	-	-3.80	-0.45	-	-	-6.65	-2.09
Issuance of Debt	1,173	194	1,495	729	561	698	588	538	212	105
Issuance of Common Equity	-	-	0.00	-	-	-	0.44	-	-	0.01
Other Financing Activities, net	-0.56	-0.55	-15	-0.26	-1.72	-3.81	-6.91	-0.30	-0.78	-0.16
Effect of Exchange Rate Changes	-4.24	26	7.28	9.25	9.02	-11	6.47	4.11	-13	15

This table presents Darling Ingredients' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/2/2016	12/31/2016	12/30/2017	12/29/2018	12/28/2019	1/2/2021	1/1/2022	12/31/2022	12/30/2023	12/28/2024
Total Assets	4,761	4,698	4,958	4,889	5,345	5,613	6,134	9,202	11,061	10,070
Total Current Assets	932	893	956	898	917	987	1,089	1,638	1,856	1,439
Cash & Equivalents	157	115	107	107	73	82	69	127	127	76
Restricted Cash	0.33	0.29	0.14	0.11	0.11	0.10	0.17	0.32	0.29	38
Accounts Receivable	371	388	392	386	406	405	469	677	798	591
Inventories, net	345	331	358	341	363	406	457	674	759	577
Prepaid Expenses	36	30	38	35	47	48	54	86	106	81
Current Deferred & Refundable Income Taxes	12	7.48	4.51	6.46	3.32	3.88	1.08	19	24	35
Other Current Assets	10	22	57	22	25	42	39	56	43	42
Plant, Property, & Equipment, net	1,508	1,516	1,646	1,688	1,802	1,864	1,840	2,462	2,935	2,714
Total Noncurrent Assets	2,321	2,289	2,356	2,304	2,626	2,763	3,205	5,102	6,270	5,917
Long-Term Investments	247	293	302	410	689	805	1,349	1,926	2,252	2,264
Goodwill	1,233	1,226	1,301	1,229	1,223	1,260	1,219	1,970	2,485	2,323
Intangible Assets	782	712	677	596	526	474	398	865	1,076	898
Noncurrent Deferred & Refundable Income Taxes	16	15	14	15	14	17	16	18	18	22
Other Noncurrent Operating Assets	42	44	62	53	172	207	222	322	440	410
Total Liabilities & Shareholders' Equity	4,761	4,698	4,958	4,889	5,345	5,613	6,134	9,202	11,061	10,070
Total Liabilities	2,786	2,622	2,631	2,554	2,702	2,659	2,786	5,306	6,367	5,606
Total Current Liabilities	442	452	559	540	688	675	753	1,068	998	1,044
Short-Term Debt	45	23	16	7.49	91	28	24	70	61	133
Accounts Payable	150	181	217	219	239	255	307	472	426	349
Accrued Expenses	240	243	314	309	311	335	351	432	441	489
Current Deferred & Payable Income Tax Liabilities	6.68	4.91	12	4.04	8.90	17	32	45	16	9.72
Other Current Liabilities	-	-	-	0.00	38	39	38	49	55	63
Total Noncurrent Liabilities	2,344	2,170	2,071	2,013	2,014	1,984	2,033	4,237	5,369	4,563
Long-Term Debt	1,886	1,728	1,698	1,667	1,558	1,481	1,439	3,315	4,366	3,909
Noncurrent Deferred & Payable Income Tax Liabilities	361	346	267	231	248	276	363	482	498	293
Other Noncurrent Operating Liabilities	98	96	106	115	207	227	231	441	505	361
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,975	2,076	2,328	2,336	2,643	2,954	3,348	3,896	4,694	4,464
Total Preferred & Common Equity	1,871	1,973	2,245	2,273	2,566	2,892	3,281	3,809	4,605	4,378
Total Common Equity	1,871	1,973	2,245	2,273	2,566	2,892	3,281	3,809	4,605	4,378
Common Stock	1,490	1,501	1,517	1,538	1,563	1,599	1,630	1,662	1,700	1,723
Retained Earnings	750	853	981	1,088	1,400	1,697	2,348	3,086	3,733	4,012
Treasury Stock	-34	-41	-44	-48	-75	-152	-375	-554	-629	-673
Accumulated Other Comprehensive Income / (Loss)	-336	-340	-210	-305	-322	-252	-322	-384	-198	-684
Noncontrolling Interest	104	103	83	63	78	62	67	87	88	86

This table presents Darling Ingredients' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	10/1/2022	4/1/2023	7/1/2023	9/30/2023	3/30/2024	6/29/2024	9/28/2024
Total Assets	8,809	10,861	10,973	10,810	10,943	10,621	10,573
Total Current Assets	1,562	1,903	1,876	1,843	1,619	1,508	1,497
Cash & Equivalents	126	133	112	119	145	122	115
Restricted Cash	0.10	0.30	0.30	0.30	4.09	26	39
Accounts Receivable	670	751	747	736	624	577	577
Inventories, net	642	829	825	823	687	628	618
Prepaid Expenses	80	109	117	102	98	89	85
Current Deferred & Refundable Income Taxes	18	20	23	26	32	34	40
Other Current Assets	26	61	53	38	28	32	24
Plant, Property, & Equipment, net	2,346	2,713	2,775	2,799	2,910	2,841	2,856
Total Noncurrent Assets	4,901	6,246	6,323	6,169	6,413	6,272	6,220
Long-Term Investments	1,815	2,125	2,214	2,164	2,379	2,416	2,332
Goodwill	1,900	2,588	2,566	2,447	2,498	2,418	2,456
Intangible Assets	874	1,091	1,075	1,091	1,057	993	977
Noncurrent Deferred & Refundable Income Taxes	15	21	25	25	17	17	19
Other Noncurrent Operating Assets	298	421	443	441	462	429	436
Total Liabilities & Shareholders' Equity	8,809	10,861	10,973	10,810	10,943	10,621	10,573
Total Liabilities	5,140	6,740	6,523	6,343	6,260	6,078	5,938
Total Current Liabilities	1,028	1,099	1,014	1,034	967	963	1,063
Short-Term Debt	64	119	88	74	103	92	114
Accounts Payable	398	434	427	395	343	350	332
Accrued Expenses	479	463	420	494	450	450	542
Current Deferred & Payable Income Tax Liabilities	43	38	30	18	12	13	15
Other Current Liabilities	44	45	48	52	59	58	60
Total Noncurrent Liabilities	4,112	5,641	5,509	5,310	5,292	5,115	4,876
Long-Term Debt	3,221	4,559	4,459	4,338	4,363	4,317	4,132
Noncurrent Deferred & Payable Income Tax Liabilities	462	523	562	503	464	401	375
Other Noncurrent Operating Liabilities	429	559	488	469	465	397	369
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,669	4,122	4,451	4,467	4,683	4,543	4,634
Total Preferred & Common Equity	3,580	4,033	4,368	4,381	4,593	4,461	4,551
Total Common Equity	3,580	4,033	4,368	4,381	4,593	4,461	4,551
Common Stock	1,654	1,675	1,682	1,693	1,714	1,725	1,726
Retained Earnings	2,929	3,271	3,524	3,649	3,814	3,893	3,910
Treasury Stock	-530	-615	-625	-629	-637	-667	-667
Accumulated Other Comprehensive Income / (Loss)	-473	-299	-213	-332	-298	-491	-418
Noncontrolling Interest	89	89	82	86	90	82	83

This table displays calculated financial ratios and metrics derived from Darling Ingredients' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/2/2016	12/31/2016	12/30/2017	12/29/2018	12/28/2019	1/2/2021	1/1/2022	12/31/2022	12/30/2023	12/28/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-14.29%	0.02%	7.97%	-7.50%	-0.70%	6.18%	32.74%	37.77%	3.92%	-15.81%
EBITDA Growth	-4.59%	8.88%	3.64%	20.23%	43.88%	-2.93%	53.88%	18.01%	4.85%	-32.62%
EBIT Growth	-13.46%	11.81%	4.45%	49.46%	106.08%	-10.13%	107.44%	15.55%	-3.95%	-49.77%
NOPAT Growth	-10.74%	9.95%	159.95%	-34.94%	75.31%	-8.83%	93.38%	21.54%	1.27%	-37.93%
Net Income Growth	24.84%	25.73%	24.37%	-20.55%	202.96%	-6.43%	118.86%	13.66%	-11.61%	-56.72%
EPS Growth	23.08%	29.17%	24.19%	-22.08%	210.00%	-4.30%	119.10%	15.13%	-11.14%	-56.64%
Operating Cash Flow Growth	52.98%	-7.12%	4.97%	-2.88%	-9.03%	72.26%	12.77%	15.52%	10.51%	-6.67%
Free Cash Flow Firm Growth	128.04%	-57.76%	-36.11%	166.36%	-1.48%	-11.90%	177.94%	-209.40%	33.95%	279.31%
Invested Capital Growth	-10.04%	-2.33%	6.24%	-3.86%	1.08%	1.29%	-5.12%	54.08%	28.98%	-9.10%
Revenue Q/Q Growth	-5.48%	2.34%	1.99%	-2.85%	0.19%	4.70%	6.52%	7.54%	-2.22%	-3.32%
EBITDA Q/Q Growth	-2.97%	4.72%	5.87%	29.35%	16.55%	-21.55%	11.18%	5.40%	-4.02%	-3.95%
EBIT Q/Q Growth	-9.47%	9.43%	17.73%	115.73%	31.55%	-34.57%	18.38%	3.62%	-7.83%	-5.99%
NOPAT Q/Q Growth	5.78%	-4.61%	225.64%	-9.76%	38.00%	-34.78%	18.32%	3.87%	-5.92%	4.96%
Net Income Q/Q Growth	25.06%	-29.19%	95.85%	-37.95%	168.22%	-39.65%	20.42%	0.22%	-9.83%	6.13%
EPS Q/Q Growth	26.32%	-30.34%	97.44%	-39.39%	181.82%	-39.66%	21.12%	0.00%	-9.52%	6.14%
Operating Cash Flow Q/Q Growth	7.24%	-3.43%	8.24%	16.77%	-21.44%	9.52%	16.19%	-8.65%	4.86%	-6.94%
Free Cash Flow Firm Q/Q Growth	1.54%	-12.68%	93.01%	24.64%	10.82%	-40.37%	42.80%	-37.34%	2.02%	61.10%
Invested Capital Q/Q Growth	-3.47%	-2.86%	2.15%	-0.61%	1.54%	2.15%	-2.36%	4.29%	2.23%	-4.15%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.74%	22.31%	21.48%	21.88%	23.03%	24.72%	26.19%	23.42%	24.23%	22.36%
EBITDA Margin	12.12%	13.19%	12.66%	16.46%	23.85%	21.80%	25.27%	21.64%	21.84%	17.48%
Operating Margin	4.21%	4.56%	4.63%	7.53%	14.14%	12.06%	18.65%	15.75%	13.99%	8.19%
EBIT Margin	3.86%	4.31%	4.17%	6.74%	14.00%	11.85%	18.51%	15.53%	14.35%	8.56%
Profit (Net Income) Margin	2.51%	3.16%	3.64%	3.13%	9.54%	8.41%	13.86%	11.44%	9.73%	5.00%
Tax Burden Percent	86.33%	87.50%	207.72%	89.80%	84.37%	84.93%	80.02%	83.59%	91.73%	115.49%
Interest Burden Percent	75.47%	83.73%	42.00%	51.64%	80.80%	83.58%	93.58%	88.12%	73.90%	50.58%
Effective Tax Rate	13.67%	12.50%	-107.72%	10.20%	15.63%	15.07%	19.98%	16.41%	8.27%	-15.49%
Return on Invested Capital (ROIC)	3.33%	3.91%	9.98%	6.43%	11.43%	10.30%	20.31%	19.96%	14.56%	8.40%
ROIC Less NNEP Spread (ROIC-NNEP)	1.08%	1.95%	-6.53%	-3.57%	3.56%	1.60%	5.17%	3.51%	2.08%	-5.33%
Return on Net Nonoperating Assets (RNNOA)	0.91%	1.38%	-3.93%	-1.88%	1.46%	0.43%	0.55%	0.67%	0.82%	-2.16%
Return on Equity (ROE)	4.24%	5.29%	6.06%	4.54%	12.89%	10.73%	20.86%	20.63%	15.38%	6.24%
Cash Return on Invested Capital (CROIC)	13.90%	6.27%	3.93%	10.36%	10.36%	9.02%	25.57%	-22.61%	-10.75%	17.93%
Operating Return on Assets (OROA)	2.65%	3.09%	3.17%	4.64%	9.20%	7.72%	14.94%	13.23%	9.62%	4.63%
Return on Assets (ROA)	1.73%	2.27%	2.76%	2.15%	6.27%	5.48%	11.19%	9.74%	6.52%	2.71%
Return on Common Equity (ROCE)	4.02%	5.02%	5.80%	4.40%	12.53%	10.46%	20.43%	20.19%	15.06%	6.12%
Return on Equity Simple (ROE_SIMPLE)	4.56%	5.43%	5.94%	4.66%	12.51%	10.39%	20.03%	19.61%	14.34%	6.53%
Net Operating Profit after Tax (NOPAT)	123	135	352	229	401	366	708	860	871	541
NOPAT Margin	3.63%	3.99%	9.61%	6.76%	11.93%	10.25%	14.93%	13.17%	12.83%	9.46%
Net Nonoperating Expense Percent (NNEP)	2.25%	1.96%	16.51%	10.00%	7.87%	8.71%	15.14%	16.44%	12.47%	13.73%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	11.81%	9.55%	6.36%
Cost of Revenue to Revenue	78.26%	77.69%	78.52%	78.12%	76.97%	75.28%	73.81%	76.58%	75.77%	77.64%
SG&A Expenses to Revenue	9.33%	9.19%	9.38%	9.13%	10.66%	10.60%	8.26%	6.68%	7.99%	8.61%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	17.53%	17.74%	16.85%	14.36%	8.89%	12.66%	7.54%	7.66%	10.24%	14.17%
Earnings before Interest and Taxes (EBIT)	131	146	153	228	471	423	878	1,014	974	489
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	411	447	464	558	802	779	1,198	1,414	1,482	999
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.93	1.08	1.33	1.38	1.79	3.23	3.42	2.63	1.73	1.22
Price to Tangible Book Value (P/TBV)	0.00	60.42	11.17	7.00	5.62	8.07	6.74	10.30	7.61	4.60
Price to Revenue (P/Rev)	0.51	0.63	0.82	0.93	1.36	2.62	2.36	1.54	1.17	0.93
Price to Earnings (P/E)	22.07	20.77	23.24	30.89	14.66	31.49	17.22	13.60	12.28	19.08
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.53%	4.81%	4.30%	3.24%	6.82%	3.18%	5.81%	7.35%	8.15%	5.24%
Enterprise Value to Invested Capital (EV/IC)	0.96	1.04	1.20	1.25	1.57	2.81	3.34	2.19	1.50	1.15
Enterprise Value to Revenue (EV/Rev)	0.99	1.05	1.19	1.29	1.65	2.81	2.39	1.75	1.49	1.24
Enterprise Value to EBITDA (EV/EBITDA)	8.18	7.98	9.43	7.81	6.92	12.88	9.45	8.10	6.81	7.08
Enterprise Value to EBIT (EV/EBIT)	25.70	24.41	28.61	19.06	11.79	23.71	12.90	11.29	10.36	14.45
Enterprise Value to NOPAT (EV/NOPAT)	27.31	26.38	12.43	19.02	13.82	27.41	16.00	13.31	11.58	13.08
Enterprise Value to Operating Cash Flow (EV/OCF)	7.99	9.13	10.66	10.92	15.30	16.06	16.08	14.07	11.22	8.43
Enterprise Value to Free Cash Flow (EV/FCFF)	6.55	16.46	31.55	11.79	15.25	31.30	12.71	0.00	0.00	6.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.98	0.84	0.74	0.72	0.62	0.51	0.44	0.87	0.94	0.91
Long-Term Debt to Equity	0.96	0.83	0.73	0.71	0.59	0.50	0.43	0.85	0.93	0.88
Financial Leverage	0.84	0.71	0.60	0.53	0.41	0.27	0.11	0.19	0.39	0.41
Leverage Ratio	2.46	2.34	2.19	2.11	2.06	1.96	1.86	2.12	2.36	2.31
Compound Leverage Factor	1.85	1.96	0.92	1.09	1.66	1.64	1.74	1.87	1.74	1.17
Debt to Total Capital	49.44%	45.75%	42.41%	41.75%	38.42%	33.80%	30.42%	46.49%	48.54%	47.52%
Short-Term Debt to Total Capital	1.16%	0.61%	0.40%	0.19%	2.12%	0.62%	0.51%	0.96%	0.67%	1.56%
Long-Term Debt to Total Capital	48.29%	45.14%	42.01%	41.57%	36.30%	33.18%	29.91%	45.53%	47.87%	45.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	2.66%	2.70%	2.05%	1.57%	1.81%	1.40%	1.39%	1.20%	0.97%	1.02%
Common Equity to Total Capital	47.90%	51.55%	55.54%	56.68%	59.77%	64.81%	68.19%	52.31%	50.49%	51.47%
Debt to EBITDA	4.70	3.91	3.70	3.00	2.06	1.94	1.22	2.39	2.99	4.05
Net Debt to EBITDA	3.71	3.00	2.81	2.08	1.11	0.80	0.04	0.94	1.38	1.67
Long-Term Debt to EBITDA	4.59	3.86	3.66	2.99	1.94	1.90	1.20	2.34	2.95	3.91
Debt to NOPAT	15.68	12.93	4.87	7.31	4.11	4.12	2.07	3.93	5.08	7.47
Net Debt to NOPAT	12.40	9.92	3.71	5.05	2.21	1.70	0.06	1.55	2.35	3.08
Long-Term Debt to NOPAT	15.31	12.76	4.82	7.28	3.88	4.05	2.03	3.85	5.01	7.23
Altman Z-Score	1.52	1.68	1.89	1.98	2.36	3.48	4.26	2.75	2.22	1.90
Noncontrolling Interest Sharing Ratio	5.02%	5.11%	4.22%	3.12%	2.82%	2.50%	2.05%	2.13%	2.05%	1.91%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.11	1.98	1.71	1.66	1.33	1.46	1.45	1.53	1.86	1.38
Quick Ratio	1.20	1.11	0.89	0.91	0.70	0.72	0.71	0.75	0.93	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	514	217	139	369	364	320	891	-974	-644	1,154
Operating Cash Flow to CapEx	183.15%	160.56%	149.70%	123.83%	100.87%	223.00%	256.97%	207.95%	161.89%	252.44%
Free Cash Flow to Firm to Interest Expense	4.87	2.30	1.56	3.36	4.01	4.41	14.35	-7.76	-2.48	4.55
Operating Cash Flow to Interest Expense	3.99	4.15	4.62	3.63	3.99	8.59	11.35	6.48	3.47	3.31
Operating Cash Flow Less CapEx to Interest Expense	1.81	1.57	1.53	0.70	0.03	4.74	6.93	3.36	1.33	2.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.69	0.72	0.76	0.69	0.66	0.65	0.81	0.85	0.67	0.54
Accounts Receivable Turnover	8.68	8.93	9.39	8.71	8.49	8.80	10.84	11.40	9.21	8.23
Inventory Turnover	7.11	7.80	8.35	7.57	7.36	6.99	8.11	8.85	7.18	6.64
Fixed Asset Turnover	2.20	2.24	2.32	2.03	1.93	1.95	2.56	3.04	2.52	2.02
Accounts Payable Turnover	16.66	15.93	14.44	12.11	11.29	10.87	12.44	12.83	11.45	11.46
Days Sales Outstanding (DSO)	42.04	40.88	38.88	41.89	42.97	41.47	33.66	32.01	39.65	44.35
Days Inventory Outstanding (DIO)	51.31	46.77	43.73	48.22	49.62	52.19	45.03	41.26	50.83	54.93
Days Payable Outstanding (DPO)	21.90	22.91	25.28	30.13	32.34	33.57	29.33	28.44	31.87	31.85
Cash Conversion Cycle (CCC)	71.45	64.74	57.33	59.98	60.26	60.09	49.35	44.83	58.61	67.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,501	3,420	3,633	3,493	3,530	3,576	3,393	5,228	6,742	6,129
Invested Capital Turnover	0.92	0.98	1.04	0.95	0.96	1.01	1.36	1.52	1.13	0.89
Increase / (Decrease) in Invested Capital	-391	-82	213	-140	38	46	-183	1,835	1,515	-613
Enterprise Value (EV)	3,363	3,572	4,374	4,355	5,548	10,032	11,324	11,450	10,088	7,073
Market Capitalization	1,733	2,125	2,986	3,135	4,584	9,348	11,212	10,031	7,951	5,322
Book Value per Share	$11.36	$11.99	$13.63	$13.80	$15.67	$17.84	$20.28	$23.77	$28.87	$27.53
Tangible Book Value per Share	($0.88)	$0.21	$1.62	$2.72	$4.99	$7.15	$10.28	$6.07	$6.55	$7.27
Total Capital	3,906	3,827	4,042	4,010	4,293	4,462	4,811	7,281	9,121	8,506
Total Debt	1,931	1,751	1,714	1,674	1,649	1,508	1,463	3,385	4,427	4,042
Total Long-Term Debt	1,886	1,728	1,698	1,667	1,558	1,481	1,439	3,315	4,366	3,909
Net Debt	1,527	1,343	1,305	1,157	887	622	45	1,331	2,049	1,665
Capital Expenditures (CapEx)	230	244	274	322	359	280	274	391	555	332
Debt-free, Cash-free Net Working Capital (DFCFNWC)	378	350	306	258	247	258	292	512	791	415
Debt-free Net Working Capital (DFNWC)	535	465	413	365	320	339	361	640	918	529
Net Working Capital (NWC)	490	441	397	357	229	312	336	570	858	396
Net Nonoperating Expense (NNE)	38	28	219	123	80	66	50	113	211	255
Net Nonoperating Obligations (NNO)	1,527	1,343	1,305	1,157	887	622	45	1,331	2,049	1,665
Total Depreciation and Amortization (D&A)	280	301	311	329	331	356	320	400	508	509
Debt-free, Cash-free Net Working Capital to Revenue	11.15%	10.31%	8.36%	7.60%	7.34%	7.21%	6.15%	7.84%	11.66%	7.27%
Debt-free Net Working Capital to Revenue	15.78%	13.70%	11.28%	10.77%	9.51%	9.50%	7.61%	9.79%	13.53%	9.26%
Net Working Capital to Revenue	14.45%	13.01%	10.84%	10.55%	6.81%	8.73%	7.09%	8.72%	12.63%	6.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.48	$0.62	$0.78	$0.62	$1.90	$1.83	$4.01	$4.58	$4.05	$1.75
Adjusted Weighted Average Basic Shares Outstanding	164.17M	164.71M	164.68M	164.66M	163.92M	162.60M	161.10M	159.95M	159.61M	158.87M
Adjusted Diluted Earnings per Share	$0.48	$0.62	$0.77	$0.60	$1.86	$1.78	$3.90	$4.49	$3.99	$1.73
Adjusted Weighted Average Diluted Shares Outstanding	164.17M	164.71M	164.68M	164.66M	163.92M	162.60M	161.10M	159.95M	159.61M	158.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	164.17M	164.71M	164.68M	164.66M	163.92M	162.60M	161.10M	159.95M	159.61M	158.87M
Normalized Net Operating Profit after Tax (NOPAT)	130	136	118	243	384	399	709	895	887	302
Normalized NOPAT Margin	3.84%	4.00%	3.23%	7.18%	11.42%	11.16%	14.95%	13.70%	13.06%	5.28%
Pre Tax Income Margin	2.91%	3.61%	1.75%	3.48%	11.31%	9.90%	17.32%	13.68%	10.61%	4.33%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.24	1.55	1.72	2.08	5.19	5.82	14.14	8.08	3.76	1.93
NOPAT to Interest Expense	1.17	1.44	3.96	2.08	4.42	5.04	11.40	6.85	3.36	2.13
EBIT Less CapEx to Interest Expense	-0.94	-1.03	-1.36	-0.85	1.23	1.97	9.72	4.96	1.62	0.62
NOPAT Less CapEx to Interest Expense	-1.01	-1.15	0.87	-0.85	0.46	1.18	6.99	3.73	1.22	0.82
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	3.97%	1.45%	17.05%	9.68%	2.04%	2.08%	0.92%	0.61%	1.38%	3.77%
Augmented Payout Ratio	10.90%	6.11%	17.05%	9.68%	8.04%	20.41%	26.43%	17.41%	9.39%	15.76%

This table displays calculated financial ratios and metrics derived from Darling Ingredients' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	10/1/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	47.36%	34.96%	31.09%	6.51%	-7.00%	-8.71%	-20.71%	-17.20%	-12.51%	-12.17%
EBITDA Growth	31.02%	24.92%	23.50%	32.54%	-16.79%	-17.11%	-28.51%	-43.76%	-38.61%	-13.65%
EBIT Growth	29.53%	16.95%	15.56%	32.99%	-31.53%	-33.89%	-45.30%	-59.27%	-64.34%	-19.32%
NOPAT Growth	42.00%	18.20%	9.34%	35.92%	-10.63%	-27.12%	-41.57%	-52.18%	244.81%	10.76%
Net Income Growth	29.75%	1.04%	-0.46%	24.59%	-33.40%	-45.20%	-57.03%	-68.12%	-85.08%	18.93%
EPS Growth	32.95%	0.00%	0.00%	26.02%	-34.19%	-44.21%	-56.14%	-68.39%	-85.71%	18.87%
Operating Cash Flow Growth	80.00%	-30.54%	23.81%	4.04%	-0.29%	23.77%	40.06%	-32.57%	-0.77%	-28.84%
Free Cash Flow Firm Growth	-807.24%	-562.42%	-1,980.46%	-103.72%	-5.28%	16.25%	101.84%	124.33%	165.21%	156.70%
Invested Capital Growth	44.25%	54.08%	84.49%	45.11%	31.58%	28.98%	1.22%	-4.24%	-3.05%	-9.10%
Revenue Q/Q Growth	5.90%	1.17%	1.31%	-1.87%	-7.53%	-0.68%	-12.01%	2.46%	-2.30%	-0.30%
EBITDA Q/Q Growth	0.89%	-2.25%	5.96%	26.84%	-36.66%	-2.61%	-8.62%	-0.22%	-30.86%	36.99%
EBIT Q/Q Growth	-3.24%	-7.86%	9.34%	36.42%	-50.18%	-11.03%	-9.53%	1.57%	-56.38%	101.30%
NOPAT Q/Q Growth	0.21%	-11.28%	11.33%	37.32%	-34.11%	-27.65%	-10.74%	12.38%	375.09%	-76.76%
Net Income Q/Q Growth	-6.12%	-17.20%	19.23%	34.42%	-49.81%	-31.87%	-6.50%	-0.27%	-76.51%	442.91%
EPS Q/Q Growth	-4.88%	-18.80%	20.00%	35.96%	-50.32%	-31.17%	-5.66%	-2.00%	-77.55%	472.73%
Operating Cash Flow Q/Q Growth	32.83%	-36.81%	7.49%	15.31%	27.30%	-21.55%	21.63%	-44.48%	87.33%	-43.75%
Free Cash Flow Firm Q/Q Growth	-51.19%	-24.61%	-69.67%	36.27%	21.87%	0.87%	103.74%	740.92%	109.42%	-13.81%
Invested Capital Q/Q Growth	9.04%	4.29%	25.13%	1.99%	-1.14%	2.23%	-1.80%	-3.51%	0.09%	-4.15%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.54%	21.99%	23.68%	22.64%	23.78%	27.04%	21.38%	22.46%	22.05%	23.54%
EBITDA Margin	21.25%	20.53%	21.47%	27.76%	19.01%	18.64%	19.36%	18.85%	13.34%	18.33%
Operating Margin	15.35%	14.10%	14.28%	20.29%	10.98%	9.84%	9.66%	10.20%	4.23%	8.64%
EBIT Margin	15.17%	13.81%	14.91%	20.72%	11.17%	10.00%	10.28%	10.19%	4.55%	9.19%
Profit (Net Income) Margin	11.00%	9.01%	10.60%	14.52%	7.88%	5.41%	5.74%	5.59%	1.34%	7.32%
Tax Burden Percent	84.52%	80.74%	87.56%	86.24%	113.63%	92.33%	95.43%	99.06%	1,162.71%	132.66%
Interest Burden Percent	85.85%	80.77%	81.21%	81.24%	62.12%	58.53%	58.53%	55.37%	2.54%	60.06%
Effective Tax Rate	15.48%	19.26%	12.44%	13.76%	-13.63%	7.67%	4.57%	0.94%	-1,062.71%	-32.66%
Return on Invested Capital (ROIC)	18.58%	17.25%	17.25%	21.94%	14.92%	10.30%	8.99%	9.47%	44.74%	10.17%
ROIC Less NNEP Spread (ROIC-NNEP)	14.12%	11.15%	14.49%	18.72%	10.62%	6.79%	6.72%	6.23%	9.77%	7.02%
Return on Net Nonoperating Assets (RNNOA)	3.15%	2.12%	4.70%	7.59%	4.53%	2.67%	3.33%	2.82%	4.18%	2.84%
Return on Equity (ROE)	21.73%	19.36%	21.95%	29.54%	19.45%	12.98%	12.31%	12.28%	48.91%	13.02%
Cash Return on Invested Capital (CROIC)	-16.72%	-22.61%	-41.98%	-19.77%	-11.32%	-10.75%	10.63%	13.95%	11.03%	17.93%
Operating Return on Assets (OROA)	12.50%	11.77%	11.87%	15.41%	7.90%	6.70%	6.05%	5.77%	2.52%	4.97%
Return on Assets (ROA)	9.07%	7.67%	8.44%	10.80%	5.58%	3.62%	3.38%	3.17%	0.74%	3.96%
Return on Common Equity (ROCE)	21.25%	18.95%	21.49%	28.96%	19.03%	12.71%	12.06%	12.06%	48.00%	12.77%
Return on Equity Simple (ROE_SIMPLE)	20.82%	0.00%	18.50%	18.24%	16.72%	0.00%	12.02%	8.48%	5.92%	0.00%
Net Operating Profit after Tax (NOPAT)	227	201	224	308	203	147	131	147	699	162
NOPAT Margin	12.98%	11.38%	12.51%	17.50%	12.47%	9.09%	9.22%	10.11%	49.15%	11.46%
Net Nonoperating Expense Percent (NNEP)	4.45%	6.10%	2.77%	3.22%	4.30%	3.51%	2.26%	3.23%	34.96%	3.16%
Return On Investment Capital (ROIC_SIMPLE)	-	2.76%	-	-	-	1.61%	-	-	-	1.91%
Cost of Revenue to Revenue	78.46%	78.01%	76.32%	77.36%	76.22%	72.96%	78.62%	77.54%	77.95%	76.46%
SG&A Expenses to Revenue	6.01%	6.88%	7.56%	7.78%	8.47%	8.22%	9.80%	8.91%	8.14%	7.58%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	6.18%	7.89%	9.40%	2.35%	12.80%	17.20%	11.72%	12.26%	17.83%	14.91%
Earnings before Interest and Taxes (EBIT)	265	244	267	364	181	161	146	148	65	130
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	371	363	385	488	309	301	275	274	190	260
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.96	2.63	2.32	2.33	1.90	1.73	1.62	1.32	1.32	1.22
Price to Tangible Book Value (P/TBV)	13.16	10.30	26.40	13.99	9.89	7.61	7.15	5.59	5.37	4.60
Price to Revenue (P/Rev)	1.75	1.54	1.34	1.44	1.20	1.17	1.16	0.96	1.02	0.93
Price to Earnings (P/E)	14.40	13.60	12.70	12.95	11.57	12.28	13.66	15.89	22.96	19.08
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.95%	7.35%	7.87%	7.72%	8.65%	8.15%	7.32%	6.29%	4.35%	5.24%
Enterprise Value to Invested Capital (EV/IC)	2.40	2.19	1.81	1.87	1.60	1.50	1.43	1.22	1.23	1.15
Enterprise Value to Revenue (EV/Rev)	1.98	1.75	1.70	1.77	1.52	1.49	1.47	1.28	1.33	1.24
Enterprise Value to EBITDA (EV/EBITDA)	8.98	8.10	7.97	7.77	6.82	6.81	6.88	6.73	7.55	7.08
Enterprise Value to EBIT (EV/EBIT)	12.30	11.29	11.28	10.94	9.97	10.36	11.07	12.24	15.08	14.45
Enterprise Value to NOPAT (EV/NOPAT)	14.54	13.31	13.49	13.00	11.38	11.58	12.12	12.41	15.23	13.08
Enterprise Value to Operating Cash Flow (EV/OCF)	13.52	14.07	13.94	14.54	12.29	11.22	9.69	8.63	8.70	8.43
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	13.50	8.56	10.95	6.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.90	0.87	1.13	1.02	0.99	0.94	0.95	0.97	0.92	0.91
Long-Term Debt to Equity	0.88	0.85	1.11	1.00	0.97	0.93	0.93	0.95	0.89	0.88
Financial Leverage	0.22	0.19	0.32	0.41	0.43	0.39	0.49	0.45	0.43	0.41
Leverage Ratio	2.12	2.12	2.29	2.37	2.41	2.36	2.48	2.40	2.35	2.31
Compound Leverage Factor	1.82	1.71	1.86	1.93	1.50	1.38	1.45	1.33	0.06	1.39
Debt to Total Capital	47.24%	46.49%	53.16%	50.54%	49.69%	48.54%	48.81%	49.26%	47.82%	47.52%
Short-Term Debt to Total Capital	0.92%	0.96%	1.35%	0.98%	0.83%	0.67%	1.13%	1.03%	1.29%	1.56%
Long-Term Debt to Total Capital	46.32%	45.53%	51.81%	49.56%	48.86%	47.87%	47.69%	48.23%	46.53%	45.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.28%	1.20%	1.01%	0.92%	0.97%	0.97%	0.98%	0.91%	0.93%	1.02%
Common Equity to Total Capital	51.49%	52.31%	45.83%	48.55%	49.34%	50.49%	50.20%	49.83%	51.25%	51.47%
Debt to EBITDA	2.45	2.39	3.15	2.83	2.86	2.99	3.25	3.80	4.08	4.05
Net Debt to EBITDA	1.00	0.94	1.63	1.38	1.38	1.38	1.41	1.59	1.69	1.67
Long-Term Debt to EBITDA	2.40	2.34	3.07	2.77	2.81	2.95	3.18	3.72	3.97	3.91
Debt to NOPAT	3.97	3.93	5.33	4.74	4.76	5.08	5.73	7.01	8.24	7.47
Net Debt to NOPAT	1.62	1.55	2.75	2.31	2.30	2.35	2.49	2.94	3.42	3.08
Long-Term Debt to NOPAT	3.89	3.85	5.19	4.64	4.69	5.01	5.60	6.87	8.02	7.23
Altman Z-Score	2.57	2.48	2.06	2.23	2.05	1.98	1.90	1.78	1.75	1.78
Noncontrolling Interest Sharing Ratio	2.20%	2.13%	2.09%	1.94%	2.15%	2.05%	2.03%	1.82%	1.86%	1.91%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.52	1.53	1.73	1.85	1.78	1.86	1.67	1.57	1.41	1.38
Quick Ratio	0.77	0.75	0.80	0.85	0.83	0.93	0.80	0.73	0.65	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,311	-1,634	-2,772	-1,766	-1,380	-1,368	51	430	900	776
Operating Cash Flow to CapEx	262.59%	130.64%	169.25%	176.67%	189.12%	124.04%	281.43%	149.58%	407.19%	210.55%
Free Cash Flow to Firm to Interest Expense	-32.93	-35.40	-55.10	-25.17	-19.64	-19.99	0.81	6.21	13.46	14.13
Operating Cash Flow to Interest Expense	6.97	3.80	3.75	3.10	3.94	3.17	4.20	2.12	4.11	2.81
Operating Cash Flow Less CapEx to Interest Expense	4.31	0.89	1.53	1.34	1.85	0.61	2.71	0.70	3.10	1.48
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.82	0.85	0.80	0.74	0.71	0.67	0.59	0.57	0.55	0.54
Accounts Receivable Turnover	10.57	11.40	10.97	10.69	9.88	9.21	9.33	9.24	9.01	8.23
Inventory Turnover	8.25	8.85	8.10	7.80	7.30	7.18	6.45	6.42	6.29	6.64
Fixed Asset Turnover	2.91	3.04	3.04	2.82	2.70	2.52	2.28	2.18	2.09	2.02
Accounts Payable Turnover	13.75	12.83	13.63	13.02	13.48	11.45	12.59	12.01	12.47	11.46
Days Sales Outstanding (DSO)	34.53	32.01	33.28	34.14	36.95	39.65	39.10	39.51	40.51	44.35
Days Inventory Outstanding (DIO)	44.25	41.26	45.05	46.77	50.02	50.83	56.56	56.88	58.02	54.93
Days Payable Outstanding (DPO)	26.55	28.44	26.79	28.04	27.08	31.87	28.99	30.40	29.26	31.85
Cash Conversion Cycle (CCC)	52.23	44.83	51.55	52.86	59.89	58.61	66.67	65.98	69.27	67.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,013	5,228	6,541	6,671	6,596	6,742	6,621	6,389	6,394	6,129
Invested Capital Turnover	1.43	1.52	1.38	1.25	1.20	1.13	0.98	0.94	0.91	0.89
Increase / (Decrease) in Invested Capital	1,538	1,835	2,996	2,074	1,583	1,515	80	-283	-201	-613
Enterprise Value (EV)	12,041	11,450	11,849	12,482	10,540	10,088	9,448	7,800	7,848	7,073
Market Capitalization	10,609	10,031	9,341	10,179	8,325	7,951	7,420	5,872	6,005	5,322
Book Value per Share	$22.32	$23.77	$25.21	$27.38	$27.47	$28.87	$28.75	$27.92	$28.62	$27.53
Tangible Book Value per Share	$5.03	$6.07	$2.21	$4.56	$5.28	$6.55	$6.49	$6.57	$7.03	$7.27
Total Capital	6,953	7,281	8,799	8,997	8,879	9,121	9,149	8,952	8,881	8,506
Total Debt	3,285	3,385	4,677	4,547	4,412	4,427	4,466	4,409	4,246	4,042
Total Long-Term Debt	3,221	3,315	4,559	4,459	4,338	4,366	4,363	4,317	4,132	3,909
Net Debt	1,344	1,331	2,419	2,221	2,129	2,049	1,938	1,846	1,760	1,665
Capital Expenditures (CapEx)	106	134	111	123	146	175	94	98	67	73
Debt-free, Cash-free Net Working Capital (DFCFNWC)	472	512	789	839	764	791	606	489	395	415
Debt-free Net Working Capital (DFNWC)	598	640	922	950	883	918	755	637	549	529
Net Working Capital (NWC)	534	570	803	862	809	858	652	544	434	396
Net Nonoperating Expense (NNE)	34	42	34	52	75	59	49	66	680	59
Net Nonoperating Obligations (NNO)	1,344	1,331	2,419	2,221	2,129	2,049	1,938	1,846	1,760	1,665
Total Depreciation and Amortization (D&A)	106	119	118	124	128	139	129	126	125	130
Debt-free, Cash-free Net Working Capital to Revenue	7.76%	7.84%	11.35%	11.87%	11.00%	11.66%	9.44%	7.99%	6.67%	7.27%
Debt-free Net Working Capital to Revenue	9.84%	9.79%	13.26%	13.45%	12.72%	13.53%	11.77%	10.41%	9.28%	9.26%
Net Working Capital to Revenue	8.79%	8.72%	11.55%	12.21%	11.66%	12.63%	10.16%	8.90%	7.35%	6.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.19	$0.97	$1.16	$1.58	$0.78	$0.53	$0.51	$0.49	$0.11	$0.64
Adjusted Weighted Average Basic Shares Outstanding	160.27M	159.95M	159.56M	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M
Adjusted Diluted Earnings per Share	$1.17	$0.95	$1.14	$1.55	$0.77	$0.53	$0.50	$0.49	$0.11	$0.63
Adjusted Weighted Average Diluted Shares Outstanding	160.27M	159.95M	159.56M	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	160.27M	159.95M	159.56M	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M
Normalized Net Operating Profit after Tax (NOPAT)	228	221	234	304	124	157	110	116	54	85
Normalized NOPAT Margin	13.04%	12.47%	13.06%	17.27%	7.63%	9.76%	7.75%	7.95%	3.78%	6.03%
Pre Tax Income Margin	13.02%	11.15%	12.11%	16.84%	6.94%	5.85%	6.02%	5.64%	0.12%	5.52%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.66	5.29	5.31	5.19	2.58	2.36	2.32	2.14	0.97	2.37
NOPAT to Interest Expense	5.70	4.36	4.45	4.38	2.88	2.14	2.08	2.13	10.46	2.96
EBIT Less CapEx to Interest Expense	4.00	2.38	3.10	3.44	0.50	-0.20	0.83	0.73	-0.04	1.04
NOPAT Less CapEx to Interest Expense	3.04	1.45	2.24	2.63	0.80	-0.41	0.59	0.71	9.45	1.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.78%	0.61%	0.00%	1.17%	1.30%	1.38%	0.00%	1.67%	3.40%	3.77%
Augmented Payout Ratio	23.97%	17.41%	20.39%	15.31%	11.60%	9.39%	1.66%	9.38%	14.24%	15.76%

Frequently Asked Questions About Darling Ingredients' Financials

When does Darling Ingredients's financial year end?

According to the most recent income statement we have on file, Darling Ingredients' fiscal year ends in December. Their fiscal year 2024 ended on December 28, 2024.

How has Darling Ingredients' net income changed over the last 9 years?

Darling Ingredients' net income appears to be on an upward trend, with a most recent value of $285.85 million in 2024, rising from $85.28 million in 2015. The previous period was $660.39 million in 2023. View Darling Ingredients' forecast to see where analysts expect Darling Ingredients to go next.

What is Darling Ingredients's operating income?

Darling Ingredients's total operating income in 2024 was $468.22 million, based on the following breakdown:

Total Gross Profit: $1.28 billion
Total Operating Expenses: $809.62 million

How has Darling Ingredients revenue changed over the last 9 years?

Over the last 9 years, Darling Ingredients' total revenue changed from $3.39 billion in 2015 to $5.72 billion in 2024, a change of 68.5%.

How much debt does Darling Ingredients have?

Darling Ingredients' total liabilities were at $5.61 billion at the end of 2024, a 12.0% decrease from 2023, and a 101.2% increase since 2015.

How much cash does Darling Ingredients have?

In the past 9 years, Darling Ingredients' cash and equivalents has ranged from $68.91 million in 2021 to $156.88 million in 2015, and is currently $75.97 million as of their latest financial filing in 2024.

How has Darling Ingredients' book value per share changed over the last 9 years?

Over the last 9 years, Darling Ingredients' book value per share changed from 11.36 in 2015 to 27.53 in 2024, a change of 142.4%.

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This page (NYSE:DAR) was last updated on 5/6/2025 by MarketBeat.com Staff

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Darling Ingredients (DAR) Financials

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