Darling Ingredients (DAR) Financials

$31.24 +0.11 (+0.35%)

Closing price 03:59 PM Eastern

Extended Trading

$31.16 -0.08 (-0.26%)

As of 04:34 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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019	12/29/2018	12/30/2017	12/31/2016	1/2/2016
Net Income / (Loss) Attributable to Common Shareholders	279	648	738	651	297	313	101	128	102	79
Consolidated Net Income / (Loss)	286	660	747	657	300	321	106	133	107	85
Net Income / (Loss) Continuing Operations	286	660	747	657	300	321	106	133	107	85
Total Pre-Tax Income	248	720	894	821	354	380	118	64	123	99
Total Operating Income	468	950	1,029	884	431	476	255	169	155	143
Total Gross Profit	1,278	1,645	1,530	1,242	883	775	741	787	757	737
Total Revenue	5,715	6,788	6,532	4,741	3,572	3,364	3,388	3,662	3,392	3,391
Operating Revenue	5,715	6,788	6,532	4,741	3,572	3,364	3,388	3,662	3,392	3,391
Total Cost of Revenue	4,437	5,143	5,003	3,499	2,689	2,589	2,646	2,876	2,635	2,654
Operating Cost of Revenue	4,437	5,143	5,003	3,499	2,689	2,589	2,646	2,876	2,635	2,654
Total Operating Expenses	810	695	501	358	452	299	486	617	602	595
Selling, General & Admin Expense	492	543	437	392	378	359	309	344	312	316
Depreciation Expense	504	502	395	316	350	326	321	302	290	270
Other Operating Expenses / (Income)	-149	-366	-372	-352	-315	-364	-160	-28	-	-
Restructuring Charge	14	32	46	2.17	38	0.00	15	0.00	0.40	8.30
Other Special Charges / (Income)	-51	-15	-4.49	-0.96	0.43	-21	0.71	-0.24	-	-
Total Other Income / (Expense), net	-221	-230	-135	-63	-77	-95	-137	-105	-32	-44
Interest Expense	254	259	126	62	73	91	110	89	94	106
Interest & Investment Income	12	5.01	5.10	5.75	3.19	0.43	-0.55	0.27	70	73
Other Income / (Expense), net	21	24	-15	-6.75	-7.82	-5.02	-27	-17	-8.39	-12
Income Tax Expense	-38	60	147	164	53	59	12	-69	15	14
Net Income / (Loss) Attributable to Noncontrolling Interest	6.97	13	9.40	6.38	3.51	8.37	4.45	4.89	4.91	6.75
Basic Earnings per Share	$1.75	$4.05	$4.58	$4.01	$1.83	$1.90	$0.62	$0.78	$0.62	$0.48
Weighted Average Basic Shares Outstanding	158.87M	159.61M	159.95M	161.10M	162.60M	163.92M	164.79M	164.75M	164.60M	165.03M
Diluted Earnings per Share	$1.73	$3.99	$4.49	$3.90	$1.78	$1.86	$0.60	$0.77	$0.62	$0.48
Weighted Average Diluted Shares Outstanding	158.87M	159.61M	159.95M	161.10M	162.60M	163.92M	164.79M	164.75M	164.60M	165.03M
Weighted Average Basic & Diluted Shares Outstanding	158.87M	159.61M	159.95M	161.10M	162.60M	163.92M	164.79M	164.75M	164.60M	165.03M

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Net Income / (Loss) Attributable to Common Shareholders	-26	102	17	79	81	85	125	252	186	157	191
Consolidated Net Income / (Loss)	-24	104	19	81	82	87	128	255	190	159	192
Net Income / (Loss) Continuing Operations	-24	104	19	81	82	87	128	255	190	159	192
Total Pre-Tax Income	-25	78	1.64	82	85	95	113	296	217	197	228
Total Operating Income	28	122	60	149	137	159	178	357	256	249	268
Total Gross Profit	311	334	314	327	304	436	386	398	424	389	376
Total Revenue	1,381	1,418	1,422	1,455	1,420	1,614	1,625	1,758	1,791	1,768	1,748
Operating Revenue	1,381	1,418	1,422	1,455	1,420	1,614	1,625	1,758	1,791	1,768	1,748
Total Cost of Revenue	1,069	1,084	1,108	1,128	1,117	1,178	1,239	1,360	1,367	1,379	1,371
Operating Cost of Revenue	1,069	1,084	1,108	1,128	1,117	1,178	1,239	1,360	1,367	1,379	1,371
Total Operating Expenses	283	211	253	178	166	278	208	41	168	140	108
Selling, General & Admin Expense	122	108	116	130	139	133	138	137	135	122	105
Depreciation Expense	124	128	124	125	128	138	126	122	116	117	105
Other Operating Expenses / (Income)	31	-24	-2.43	-44	-78	-4.69	-54	-213	-94	-123	-103
Restructuring Charge	1.53	8.23	0.22	1.13	4.05	15	3.43	2.60	12	24	4.50
Other Special Charges / (Income)	5.50	-8.55	16	-33	-26	-3.12	-4.63	-7.24	-0.33	0.07	-3.12
Total Other Income / (Expense), net	-53	-44	-58	-66	-52	-64	-66	-61	-39	-52	-41
Interest Expense	58	55	67	69	63	68	70	70	50	46	40
Interest & Investment Income	2.63	2.89	3.78	3.02	2.31	1.51	1.53	1.85	0.12	-0.83	2.30
Other Income / (Expense), net	1.97	7.82	4.60	-0.16	8.89	2.62	3.09	7.57	11	-5.03	-3.30
Income Tax Expense	-1.15	-26	-17	0.77	3.91	7.25	-15	41	27	38	35
Net Income / (Loss) Attributable to Noncontrolling Interest	2.35	1.87	2.17	2.50	0.43	2.74	3.06	2.81	4.05	2.67	1.22
Basic Earnings per Share	($0.16)	$0.64	$0.11	$0.49	$0.51	$0.53	$0.78	$1.58	$1.16	$0.97	$1.19
Weighted Average Basic Shares Outstanding	158.16M	158.87M	159.05M	159.02M	159.78M	159.61M	159.53M	159.49M	159.56M	159.95M	160.27M
Diluted Earnings per Share	($0.16)	$0.63	$0.11	$0.49	$0.50	$0.53	$0.77	$1.55	$1.14	$0.95	$1.17
Weighted Average Diluted Shares Outstanding	158.16M	158.87M	159.05M	159.02M	159.78M	159.61M	159.53M	159.49M	159.56M	159.95M	160.27M
Weighted Average Basic & Diluted Shares Outstanding	158.16M	158.87M	159.05M	159.02M	159.78M	159.61M	159.53M	159.49M	159.56M	159.95M	160.27M

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

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Net Change in Cash & Equivalents	6.86	-44	-4.65	-27	28	11	9.41	-18	112	2.81	0.52
Net Cash From Operating Activities	249	154	274	147	264	217	277	217	188	175	277
Net Cash From Continuing Operating Activities	249	154	274	147	264	217	277	217	188	175	277
Net Income / (Loss) Continuing Operations	-24	104	19	81	82	87	128	255	190	159	192
Consolidated Net Income / (Loss)	-24	104	19	81	82	87	128	255	190	159	192
Depreciation Expense	124	128	124	125	128	138	126	122	116	117	105
Amortization Expense	1.43	1.42	1.42	1.40	1.40	1.54	1.54	1.52	1.62	1.43	1.35
Non-Cash Adjustments To Reconcile Net Income	144	34	139	11	1.42	69	18	-106	-117	-85	-55
Changes in Operating Assets and Liabilities, net	3.69	-113	-8.33	-72	52	-79	2.92	-55	-1.56	-18	34
Net Cash From Investing Activities	-51	-46	-65	-97	-291	-169	-158	-92	-1,257	-194	-598
Net Cash From Continuing Investing Activities	-51	-46	-65	-97	-291	-169	-158	-92	-1,257	-194	-598
Purchase of Property, Plant & Equipment	-63	-73	-67	-98	-94	-175	-146	-123	-111	-134	-106
Acquisitions	-0.15	-0.00	0.20	-6.98	-200	-0.00	-14	-	-1,156	-39	-525
Other Investing Activities, net	12	27	2.27	8.24	2.76	6.11	2.08	31	10	-21	32
Net Cash From Financing Activities	-185	-166	-201	-81	49	-26	-118	-153	1,173	-4.30	325
Net Cash From Continuing Financing Activities	-185	-166	-201	-81	49	-26	-118	-153	1,173	-4.30	325
Repayment of Debt	-237	-264	-406	-587	-533	-720	-674	-867	-263	-174	-806
Repurchase of Common Equity	-35	-5.08	-	-29	0.00	-	-	-9.15	-44	-22	-37
Issuance of Debt	93	105	212	538	588	698	561	729	1,495	194	1,173
Issuance of Common Equity	0.34	0.01	-	-	0.44	-	-	-	0.00	-	-
Other Financing Activities, net	-6.54	-0.16	-0.78	-0.30	-6.91	-3.81	-1.72	-0.26	-15	-0.55	-0.56
Effect of Exchange Rate Changes	-6.21	15	-13	4.11	6.47	-11	9.02	9.25	7.28	26	-4.24

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

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	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/29/2025	9/28/2024	6/29/2024	3/30/2024	9/30/2023	7/1/2023	4/1/2023	10/1/2022
Total Assets	10,032	10,573	10,621	10,943	10,810	10,973	10,861	8,809
Total Current Assets	1,455	1,497	1,508	1,619	1,843	1,876	1,903	1,562
Cash & Equivalents	81	115	122	145	119	112	133	126
Restricted Cash	40	39	26	4.09	0.30	0.30	0.30	0.10
Accounts Receivable	597	577	577	624	736	747	751	670
Inventories, net	595	618	628	687	823	825	829	642
Prepaid Expenses	90	85	89	98	102	117	109	80
Current Deferred & Refundable Income Taxes	25	40	34	32	26	23	20	18
Other Current Assets	26	24	32	28	38	53	61	26
Plant, Property, & Equipment, net	2,739	2,856	2,841	2,910	2,799	2,775	2,713	2,346
Total Noncurrent Assets	5,838	6,220	6,272	6,413	6,169	6,323	6,246	4,901
Long-Term Investments	2,112	2,332	2,416	2,379	2,164	2,214	2,125	1,815
Goodwill	2,389	2,456	2,418	2,498	2,447	2,566	2,588	1,900
Intangible Assets	898	977	993	1,057	1,091	1,075	1,091	874
Noncurrent Deferred & Refundable Income Taxes	18	19	17	17	25	25	21	15
Other Noncurrent Operating Assets	421	436	429	462	441	443	421	298
Total Liabilities & Shareholders' Equity	10,032	10,573	10,621	10,943	10,810	10,973	10,861	8,809
Total Liabilities	5,496	5,938	6,078	6,260	6,343	6,523	6,740	5,140
Total Current Liabilities	1,036	1,063	963	967	1,034	1,014	1,099	1,028
Short-Term Debt	117	114	92	103	74	88	119	64
Accounts Payable	348	332	350	343	395	427	434	398
Accrued Expenses	492	542	450	450	494	420	463	479
Current Deferred & Payable Income Tax Liabilities	15	15	13	12	18	30	38	43
Other Current Liabilities	64	60	58	59	52	48	45	44
Total Noncurrent Liabilities	4,461	4,876	5,115	5,292	5,310	5,509	5,641	4,112
Long-Term Debt	3,805	4,132	4,317	4,363	4,338	4,459	4,559	3,221
Noncurrent Deferred & Payable Income Tax Liabilities	289	375	401	464	503	562	523	462
Other Noncurrent Operating Liabilities	366	369	397	465	469	488	559	429
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,536	4,634	4,543	4,683	4,467	4,451	4,122	3,669
Total Preferred & Common Equity	4,448	4,551	4,461	4,593	4,381	4,368	4,033	3,580
Total Common Equity	4,448	4,551	4,461	4,593	4,381	4,368	4,033	3,580
Common Stock	1,725	1,726	1,725	1,714	1,693	1,682	1,675	1,654
Retained Earnings	3,986	3,910	3,893	3,814	3,649	3,524	3,271	2,929
Treasury Stock	-719	-667	-667	-637	-629	-625	-615	-530
Accumulated Other Comprehensive Income / (Loss)	-544	-418	-491	-298	-332	-213	-299	-473
Noncontrolling Interest	87	83	82	90	86	82	89	89

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

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

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.80%	-12.17%	-12.51%	-17.20%	-20.71%	-8.71%	-7.00%	6.51%	31.09%	34.96%	47.36%
EBITDA Growth	-43.40%	-13.65%	-38.61%	-43.76%	-28.51%	-17.11%	-16.79%	32.54%	23.50%	24.92%	31.02%
EBIT Growth	-79.21%	-19.32%	-64.34%	-59.27%	-45.30%	-33.89%	-31.53%	32.99%	15.56%	16.95%	29.53%
NOPAT Growth	-84.81%	10.76%	244.81%	-52.18%	-41.57%	-27.12%	-10.63%	35.92%	9.34%	18.20%	42.00%
Net Income Growth	-129.19%	18.93%	-85.08%	-68.12%	-57.03%	-45.20%	-33.40%	24.59%	-0.46%	1.04%	29.75%
EPS Growth	-132.00%	18.87%	-85.71%	-68.39%	-56.14%	-44.21%	-34.19%	26.02%	0.00%	0.00%	32.95%
Operating Cash Flow Growth	-5.66%	-28.84%	-0.77%	-32.57%	40.06%	23.77%	-0.29%	4.04%	23.81%	-30.54%	80.00%
Free Cash Flow Firm Growth	714.92%	156.70%	165.21%	124.33%	101.84%	16.25%	-5.28%	-103.72%	-1,980.46%	-562.42%	-807.24%
Invested Capital Growth	-5.99%	-9.10%	-3.05%	-4.24%	1.22%	28.98%	31.58%	45.11%	84.49%	54.08%	44.25%
Revenue Q/Q Growth	-2.62%	-0.30%	-2.30%	2.46%	-12.01%	-0.68%	-7.53%	-1.87%	1.31%	1.17%	5.90%
EBITDA Q/Q Growth	-40.10%	36.99%	-30.86%	-0.22%	-8.62%	-2.61%	-36.66%	26.84%	5.96%	-2.25%	0.89%
EBIT Q/Q Growth	-76.68%	101.30%	-56.38%	1.57%	-9.53%	-11.03%	-50.18%	36.42%	9.34%	-7.86%	-3.24%
NOPAT Q/Q Growth	-87.76%	-76.76%	375.09%	12.38%	-10.74%	-27.65%	-34.11%	37.32%	11.33%	-11.28%	0.21%
Net Income Q/Q Growth	-122.95%	442.91%	-76.51%	-0.27%	-6.50%	-31.87%	-49.81%	34.42%	19.23%	-17.20%	-6.12%
EPS Q/Q Growth	-125.40%	472.73%	-77.55%	-2.00%	-5.66%	-31.17%	-50.32%	35.96%	20.00%	-18.80%	-4.88%
Operating Cash Flow Q/Q Growth	61.25%	-43.75%	87.33%	-44.48%	21.63%	-21.55%	27.30%	15.31%	7.49%	-36.81%	32.83%
Free Cash Flow Firm Q/Q Growth	-46.31%	-13.81%	109.42%	740.92%	103.74%	0.87%	21.87%	36.27%	-69.67%	-24.61%	-51.19%
Invested Capital Q/Q Growth	1.55%	-4.15%	0.09%	-3.51%	-1.80%	2.23%	-1.14%	1.99%	25.13%	4.29%	9.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.55%	23.54%	22.05%	22.46%	21.38%	27.04%	23.78%	22.64%	23.68%	21.99%	21.54%
EBITDA Margin	11.27%	18.33%	13.34%	18.85%	19.36%	18.64%	19.01%	27.76%	21.47%	20.53%	21.25%
Operating Margin	2.06%	8.64%	4.23%	10.20%	9.66%	9.84%	10.98%	20.29%	14.28%	14.10%	15.35%
EBIT Margin	2.20%	9.19%	4.55%	10.19%	10.28%	10.00%	11.17%	20.72%	14.91%	13.81%	15.17%
Profit (Net Income) Margin	-1.72%	7.32%	1.34%	5.59%	5.74%	5.41%	7.88%	14.52%	10.60%	9.01%	11.00%
Tax Burden Percent	95.38%	132.66%	1,162.71%	99.06%	95.43%	92.33%	113.63%	86.24%	87.56%	80.74%	84.52%
Interest Burden Percent	-82.21%	60.06%	2.54%	55.37%	58.53%	58.53%	62.12%	81.24%	81.21%	80.77%	85.85%
Effective Tax Rate	0.00%	-32.66%	-1,062.71%	0.94%	4.57%	7.67%	-13.63%	13.76%	12.44%	19.26%	15.48%
Return on Invested Capital (ROIC)	1.27%	10.17%	44.74%	9.47%	8.99%	10.30%	14.92%	21.94%	17.25%	17.25%	18.58%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.14%	7.02%	9.77%	6.23%	6.72%	6.79%	10.62%	18.72%	14.49%	11.15%	14.12%
Return on Net Nonoperating Assets (RNNOA)	-0.45%	2.84%	4.18%	2.82%	3.33%	2.67%	4.53%	7.59%	4.70%	2.12%	3.15%
Return on Equity (ROE)	0.83%	13.02%	48.91%	12.28%	12.31%	12.98%	19.45%	29.54%	21.95%	19.36%	21.73%
Cash Return on Invested Capital (CROIC)	13.54%	17.93%	11.03%	13.95%	10.63%	-10.75%	-11.32%	-19.77%	-41.98%	-22.61%	-16.72%
Operating Return on Assets (OROA)	1.19%	4.97%	2.52%	5.77%	6.05%	6.70%	7.90%	15.41%	11.87%	11.77%	12.50%
Return on Assets (ROA)	-0.93%	3.96%	0.74%	3.17%	3.38%	3.62%	5.58%	10.80%	8.44%	7.67%	9.07%
Return on Common Equity (ROCE)	0.81%	12.77%	48.00%	12.06%	12.06%	12.71%	19.03%	28.96%	21.49%	18.95%	21.25%
Return on Equity Simple (ROE_SIMPLE)	4.06%	0.00%	5.92%	8.48%	12.02%	0.00%	16.72%	18.24%	18.50%	0.00%	20.82%
Net Operating Profit after Tax (NOPAT)	20	162	699	147	131	147	203	308	224	201	227
NOPAT Margin	1.44%	11.46%	49.15%	10.11%	9.22%	9.09%	12.47%	17.50%	12.51%	11.38%	12.98%
Net Nonoperating Expense Percent (NNEP)	2.41%	3.16%	34.96%	3.23%	2.26%	3.51%	4.30%	3.22%	2.77%	6.10%	4.45%
Return On Investment Capital (ROIC_SIMPLE)	0.24%	1.91%	-	-	-	1.61%	-	-	-	2.76%	-
Cost of Revenue to Revenue	77.45%	76.46%	77.95%	77.54%	78.62%	72.96%	76.22%	77.36%	76.32%	78.01%	78.46%
SG&A Expenses to Revenue	8.80%	7.58%	8.14%	8.91%	9.80%	8.22%	8.47%	7.78%	7.56%	6.88%	6.01%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.49%	14.91%	17.83%	12.26%	11.72%	17.20%	12.80%	2.35%	9.40%	7.89%	6.18%
Earnings before Interest and Taxes (EBIT)	30	130	65	148	146	161	181	364	267	244	265
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	156	260	190	274	275	301	309	488	385	363	371
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.13	1.22	1.32	1.32	1.62	1.73	1.90	2.33	2.32	2.63	2.96
Price to Tangible Book Value (P/TBV)	4.32	4.60	5.37	5.59	7.15	7.61	9.89	13.99	26.40	10.30	13.16
Price to Revenue (P/Rev)	0.88	0.93	1.02	0.96	1.16	1.17	1.20	1.44	1.34	1.54	1.75
Price to Earnings (P/E)	29.22	19.08	22.96	15.89	13.66	12.28	11.57	12.95	12.70	13.60	14.40
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.42%	5.24%	4.35%	6.29%	7.32%	8.15%	8.65%	7.72%	7.87%	7.35%	6.95%
Enterprise Value to Invested Capital (EV/IC)	1.09	1.15	1.23	1.22	1.43	1.50	1.60	1.87	1.81	2.19	2.40
Enterprise Value to Revenue (EV/Rev)	1.20	1.24	1.33	1.28	1.47	1.49	1.52	1.77	1.70	1.75	1.98
Enterprise Value to EBITDA (EV/EBITDA)	7.72	7.08	7.55	6.73	6.88	6.81	6.82	7.77	7.97	8.10	8.98
Enterprise Value to EBIT (EV/EBIT)	18.17	14.45	15.08	12.24	11.07	10.36	9.97	10.94	11.28	11.29	12.30
Enterprise Value to NOPAT (EV/NOPAT)	14.34	13.08	15.23	12.41	12.12	11.58	11.38	13.00	13.49	13.31	14.54
Enterprise Value to Operating Cash Flow (EV/OCF)	8.23	8.43	8.70	8.63	9.69	11.22	12.29	14.54	13.94	14.07	13.52
Enterprise Value to Free Cash Flow (EV/FCFF)	7.80	6.13	10.95	8.56	13.50	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.86	0.91	0.92	0.97	0.95	0.94	0.99	1.02	1.13	0.87	0.90
Long-Term Debt to Equity	0.84	0.88	0.89	0.95	0.93	0.93	0.97	1.00	1.11	0.85	0.88
Financial Leverage	0.39	0.41	0.43	0.45	0.49	0.39	0.43	0.41	0.32	0.19	0.22
Leverage Ratio	2.28	2.31	2.35	2.40	2.48	2.36	2.41	2.37	2.29	2.12	2.12
Compound Leverage Factor	-1.87	1.39	0.06	1.33	1.45	1.38	1.50	1.93	1.86	1.71	1.82
Debt to Total Capital	46.37%	47.52%	47.82%	49.26%	48.81%	48.54%	49.69%	50.54%	53.16%	46.49%	47.24%
Short-Term Debt to Total Capital	1.38%	1.56%	1.29%	1.03%	1.13%	0.67%	0.83%	0.98%	1.35%	0.96%	0.92%
Long-Term Debt to Total Capital	44.99%	45.95%	46.53%	48.23%	47.69%	47.87%	48.86%	49.56%	51.81%	45.53%	46.32%
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%	0.00%
Noncontrolling Interests to Total Capital	1.03%	1.02%	0.93%	0.91%	0.98%	0.97%	0.97%	0.92%	1.01%	1.20%	1.28%
Common Equity to Total Capital	52.60%	51.47%	51.25%	49.83%	50.20%	50.49%	49.34%	48.55%	45.83%	52.31%	51.49%
Debt to EBITDA	4.46	4.05	4.08	3.80	3.25	2.99	2.86	2.83	3.15	2.39	2.45
Net Debt to EBITDA	1.92	1.67	1.69	1.59	1.41	1.38	1.38	1.38	1.63	0.94	1.00
Long-Term Debt to EBITDA	4.33	3.91	3.97	3.72	3.18	2.95	2.81	2.77	3.07	2.34	2.40
Debt to NOPAT	8.29	7.47	8.24	7.01	5.73	5.08	4.76	4.74	5.33	3.93	3.97
Net Debt to NOPAT	3.57	3.08	3.42	2.94	2.49	2.35	2.30	2.31	2.75	1.55	1.62
Long-Term Debt to NOPAT	8.04	7.23	8.02	6.87	5.60	5.01	4.69	4.64	5.19	3.85	3.89
Altman Z-Score	1.73	1.78	1.75	1.78	1.90	1.98	2.05	2.23	2.06	2.48	2.57
Noncontrolling Interest Sharing Ratio	1.92%	1.91%	1.86%	1.82%	2.03%	2.05%	2.15%	1.94%	2.09%	2.13%	2.20%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.40	1.38	1.41	1.57	1.67	1.86	1.78	1.85	1.73	1.53	1.52
Quick Ratio	0.66	0.64	0.65	0.73	0.80	0.93	0.83	0.85	0.80	0.75	0.77
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	416	776	900	430	51	-1,368	-1,380	-1,766	-2,772	-1,634	-1,311
Operating Cash Flow to CapEx	395.31%	210.55%	407.19%	149.58%	281.43%	124.04%	189.12%	176.67%	169.25%	130.64%	262.59%
Free Cash Flow to Firm to Interest Expense	7.18	14.13	13.46	6.21	0.81	-19.99	-19.64	-25.17	-55.10	-35.40	-32.93
Operating Cash Flow to Interest Expense	4.29	2.81	4.11	2.12	4.20	3.17	3.94	3.10	3.75	3.80	6.97
Operating Cash Flow Less CapEx to Interest Expense	3.21	1.48	3.10	0.70	2.71	0.61	1.85	1.34	1.53	0.89	4.31
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.54	0.55	0.57	0.59	0.67	0.71	0.74	0.80	0.85	0.82
Accounts Receivable Turnover	9.30	8.23	9.01	9.24	9.33	9.21	9.88	10.69	10.97	11.40	10.57
Inventory Turnover	6.84	6.64	6.29	6.42	6.45	7.18	7.30	7.80	8.10	8.85	8.25
Fixed Asset Turnover	2.01	2.02	2.09	2.18	2.28	2.52	2.70	2.82	3.04	3.04	2.91
Accounts Payable Turnover	12.69	11.46	12.47	12.01	12.59	11.45	13.48	13.02	13.63	12.83	13.75
Days Sales Outstanding (DSO)	39.26	44.35	40.51	39.51	39.10	39.65	36.95	34.14	33.28	32.01	34.53
Days Inventory Outstanding (DIO)	53.33	54.93	58.02	56.88	56.56	50.83	50.02	46.77	45.05	41.26	44.25
Days Payable Outstanding (DPO)	28.76	31.85	29.26	30.40	28.99	31.87	27.08	28.04	26.79	28.44	26.55
Cash Conversion Cycle (CCC)	63.83	67.43	69.27	65.98	66.67	58.61	59.89	52.86	51.55	44.83	52.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,224	6,129	6,394	6,389	6,621	6,742	6,596	6,671	6,541	5,228	5,013
Invested Capital Turnover	0.88	0.89	0.91	0.94	0.98	1.13	1.20	1.25	1.38	1.52	1.43
Increase / (Decrease) in Invested Capital	-397	-613	-201	-283	80	1,515	1,583	2,074	2,996	1,835	1,538
Enterprise Value (EV)	6,788	7,073	7,848	7,800	9,448	10,088	10,540	12,482	11,849	11,450	12,041
Market Capitalization	5,012	5,322	6,005	5,872	7,420	7,951	8,325	10,179	9,341	10,031	10,609
Book Value per Share	$28.00	$27.53	$28.62	$27.92	$28.75	$28.87	$27.47	$27.38	$25.21	$23.77	$22.32
Tangible Book Value per Share	$7.31	$7.27	$7.03	$6.57	$6.49	$6.55	$5.28	$4.56	$2.21	$6.07	$5.03
Total Capital	8,457	8,506	8,881	8,952	9,149	9,121	8,879	8,997	8,799	7,281	6,953
Total Debt	3,922	4,042	4,246	4,409	4,466	4,427	4,412	4,547	4,677	3,385	3,285
Total Long-Term Debt	3,805	3,909	4,132	4,317	4,363	4,366	4,338	4,459	4,559	3,315	3,221
Net Debt	1,688	1,665	1,760	1,846	1,938	2,049	2,129	2,221	2,419	1,331	1,344
Capital Expenditures (CapEx)	63	73	67	98	94	175	146	123	111	134	106
Debt-free, Cash-free Net Working Capital (DFCFNWC)	414	415	395	489	606	791	764	839	789	512	472
Debt-free Net Working Capital (DFNWC)	536	529	549	637	755	918	883	950	922	640	598
Net Working Capital (NWC)	419	396	434	544	652	858	809	862	803	570	534
Net Nonoperating Expense (NNE)	44	59	680	66	49	59	75	52	34	42	34
Net Nonoperating Obligations (NNO)	1,688	1,665	1,760	1,846	1,938	2,049	2,129	2,221	2,419	1,331	1,344
Total Depreciation and Amortization (D&A)	125	130	125	126	129	139	128	124	118	119	106
Debt-free, Cash-free Net Working Capital to Revenue	7.30%	7.27%	6.67%	7.99%	9.44%	11.66%	11.00%	11.87%	11.35%	7.84%	7.76%
Debt-free Net Working Capital to Revenue	9.44%	9.26%	9.28%	10.41%	11.77%	13.53%	12.72%	13.45%	13.26%	9.79%	9.84%
Net Working Capital to Revenue	7.38%	6.93%	7.35%	8.90%	10.16%	12.63%	11.66%	12.21%	11.55%	8.72%	8.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.16)	$0.64	$0.11	$0.49	$0.51	$0.53	$0.78	$1.58	$1.16	$0.97	$1.19
Adjusted Weighted Average Basic Shares Outstanding	158.16M	158.87M	159.05M	159.02M	159.78M	159.61M	159.53M	159.49M	159.56M	159.95M	160.27M
Adjusted Diluted Earnings per Share	($0.16)	$0.63	$0.11	$0.49	$0.50	$0.53	$0.77	$1.55	$1.14	$0.95	$1.17
Adjusted Weighted Average Diluted Shares Outstanding	158.16M	158.87M	159.05M	159.02M	159.78M	159.61M	159.53M	159.49M	159.56M	159.95M	160.27M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	158.16M	158.87M	159.05M	159.02M	159.78M	159.61M	159.53M	159.49M	159.56M	159.95M	160.27M
Normalized Net Operating Profit after Tax (NOPAT)	25	85	54	116	110	157	124	304	234	221	228
Normalized NOPAT Margin	1.80%	6.03%	3.78%	7.95%	7.75%	9.76%	7.63%	17.27%	13.06%	12.47%	13.04%
Pre Tax Income Margin	-1.81%	5.52%	0.12%	5.64%	6.02%	5.85%	6.94%	16.84%	12.11%	11.15%	13.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.52	2.37	0.97	2.14	2.32	2.36	2.58	5.19	5.31	5.29	6.66
NOPAT to Interest Expense	0.34	2.96	10.46	2.13	2.08	2.14	2.88	4.38	4.45	4.36	5.70
EBIT Less CapEx to Interest Expense	-0.56	1.04	-0.04	0.73	0.83	-0.20	0.50	3.44	3.10	2.38	4.00
NOPAT Less CapEx to Interest Expense	-0.74	1.62	9.45	0.71	0.59	-0.41	0.80	2.63	2.24	1.45	3.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	3.77%	3.40%	1.67%	0.00%	1.38%	1.30%	1.17%	0.00%	0.61%	0.78%
Augmented Payout Ratio	38.21%	15.76%	14.24%	9.38%	1.66%	9.39%	11.60%	15.31%	20.39%	17.41%	23.97%

Frequently Asked Questions About Darling Ingredients' Financials

When does Darling Ingredients's fiscal year end?

According to the most recent income statement we have on file, Darling Ingredients' financial year ends in December. Their financial 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. See Darling Ingredients' forecast for analyst expectations on what’s next for the company.

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 5/30/2025 by MarketBeat.com Staff

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Darling Ingredients (DAR) Financials

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