Darling Ingredients (DAR) Financials

$63.75 +0.63 (+1.00%)

As of 12:46 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	2025
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	1/3/2026
Net Income / (Loss) Attributable to Common Shareholders	79	102	128	101	313	297	651	738	648	279	63
Consolidated Net Income / (Loss)	85	107	133	106	321	300	657	747	660	286	70
Net Income / (Loss) Continuing Operations	85	107	133	106	321	300	657	747	660	286	70
Total Pre-Tax Income	99	123	64	118	380	354	821	894	720	248	61
Total Operating Income	143	155	169	255	476	431	884	1,029	950	468	273
Total Gross Profit	737	757	787	741	775	883	1,242	1,530	1,645	1,278	1,473
Total Revenue	3,391	3,392	3,662	3,388	3,364	3,572	4,741	6,532	6,788	5,715	6,136
Operating Revenue	3,391	3,392	3,662	3,388	3,364	3,572	4,741	6,532	6,788	5,715	6,136
Total Cost of Revenue	2,654	2,635	2,876	2,646	2,589	2,689	3,499	5,003	5,143	4,437	4,662
Operating Cost of Revenue	2,654	2,635	2,876	2,646	2,589	2,689	3,499	5,003	5,143	4,437	4,662
Total Operating Expenses	595	602	617	486	299	452	358	501	695	810	1,200
Selling, General & Admin Expense	316	312	344	309	359	378	392	437	543	492	551
Depreciation Expense	270	290	302	321	326	350	316	395	502	504	509
Other Operating Expenses / (Income)	-	-	-28	-160	-364	-315	-352	-372	-366	-149	49
Restructuring Charge	8.30	0.40	0.00	15	0.00	38	2.17	46	32	14	74
Other Special Charges / (Income)	-	-	-0.24	0.71	-21	0.43	-0.96	-4.49	-15	-51	18
Total Other Income / (Expense), net	-44	-32	-105	-137	-95	-77	-63	-135	-230	-221	-212
Interest Expense	106	94	89	110	91	73	62	126	259	254	225
Interest & Investment Income	73	70	0.27	-0.55	0.43	3.19	5.75	5.10	5.01	12	13
Other Income / (Expense), net	-12	-8.39	-17	-27	-5.02	-7.82	-6.75	-15	24	21	0.08
Income Tax Expense	14	15	-69	12	59	53	164	147	60	-38	-9.36
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	7.58
Basic Earnings per Share	$0.48	$0.62	$0.78	$0.62	$1.90	$1.83	$4.01	$4.58	$4.05	$1.75	$0.40
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	158.60M
Diluted Earnings per Share	$0.48	$0.62	$0.77	$0.60	$1.86	$1.78	$3.90	$4.49	$3.99	$1.73	$0.39
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	158.60M
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	158.60M

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	1/3/2026
Net Income / (Loss) Attributable to Common Shareholders	252	125	85	81	79	17	102	-26	13	19	57
Consolidated Net Income / (Loss)	255	128	87	82	81	19	104	-24	14	21	59
Net Income / (Loss) Continuing Operations	255	128	87	82	81	19	104	-24	14	21	59
Total Pre-Tax Income	296	113	95	85	82	1.64	78	-25	18	20	48
Total Operating Income	357	178	159	137	149	60	122	28	76	72	97
Total Gross Profit	398	386	436	304	327	314	334	311	346	387	429
Total Revenue	1,758	1,625	1,614	1,420	1,455	1,422	1,418	1,381	1,482	1,564	1,710
Operating Revenue	1,758	1,625	1,614	1,420	1,455	1,422	1,418	1,381	1,482	1,564	1,710
Total Cost of Revenue	1,360	1,239	1,178	1,117	1,128	1,108	1,084	1,069	1,136	1,177	1,281
Operating Cost of Revenue	1,360	1,239	1,178	1,117	1,128	1,108	1,084	1,069	1,136	1,177	1,281
Total Operating Expenses	41	208	278	166	178	253	211	283	270	315	332
Selling, General & Admin Expense	137	138	133	139	130	116	108	122	138	140	152
Depreciation Expense	122	126	138	128	125	124	128	124	121	124	140
Other Operating Expenses / (Income)	-213	-54	-4.69	-78	-44	-2.43	-24	31	-6.00	46	-22
Restructuring Charge	2.60	3.43	15	4.05	1.13	0.22	8.23	1.53	3.38	6.16	63
Other Special Charges / (Income)	-7.24	-4.63	-3.12	-26	-33	16	-8.55	5.50	14	-0.38	-0.98
Total Other Income / (Expense), net	-61	-66	-64	-52	-66	-58	-44	-53	-58	-52	-50
Interest Expense	70	70	68	63	69	67	55	58	55	57	56
Interest & Investment Income	1.85	1.53	1.51	2.31	3.02	3.78	2.89	2.63	2.53	3.28	4.33
Other Income / (Expense), net	7.57	3.09	2.62	8.89	-0.16	4.60	7.82	1.97	-5.21	1.73	1.60
Income Tax Expense	41	-15	7.25	3.91	0.77	-17	-26	-1.15	4.07	-1.25	-11
Net Income / (Loss) Attributable to Noncontrolling Interest	2.81	3.06	2.74	0.43	2.50	2.17	1.87	2.35	1.60	1.69	1.94
Basic Earnings per Share	$1.58	$0.78	$0.53	$0.51	$0.49	$0.11	$0.64	($0.16)	$0.08	$0.12	$0.36
Weighted Average Basic Shares Outstanding	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M	158.16M	158.19M	158.19M	158.60M
Diluted Earnings per Share	$1.55	$0.77	$0.53	$0.50	$0.49	$0.11	$0.63	($0.16)	$0.08	$0.12	$0.35
Weighted Average Diluted Shares Outstanding	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M	158.16M	158.19M	158.19M	158.60M
Weighted Average Basic & Diluted Shares Outstanding	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M	158.16M	158.19M	158.19M	158.60M

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	2025
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	1/3/2026
Net Change in Cash & Equivalents	48	-42	-7.94	0.45	-34	8.68	-13	81	114	-47	-14
Net Cash From Operating Activities	421	391	410	399	363	625	704	814	899	839	1,060
Net Cash From Continuing Operating Activities	421	391	410	399	363	625	704	814	899	839	1,060
Net Income / (Loss) Continuing Operations	85	107	133	106	321	300	657	747	660	286	70
Consolidated Net Income / (Loss)	85	107	133	106	321	300	657	747	660	286	70
Depreciation Expense	270	290	302	321	326	350	316	395	502	504	509
Amortization Expense	10	11	8.74	7.87	5.85	5.36	4.04	4.98	6.22	5.62	5.50
Non-Cash Adjustments To Reconcile Net Income	8.09	-16	0.82	-32	-325	-65	-404	-362	-136	185	514
Changes in Operating Assets and Liabilities, net	48	-0.83	-35	-4.71	35	34	130	29	-133	-141	-39
Net Cash From Investing Activities	-230	-243	-284	-342	-338	-311	-490	-2,417	-1,675	-499	-681
Net Cash From Continuing Investing Activities	-230	-243	-284	-342	-338	-311	-490	-2,417	-1,675	-499	-681
Purchase of Property, Plant & Equipment	-230	-244	-274	-322	-359	-280	-274	-391	-555	-332	-380
Acquisitions	-4.22	-8.53	-19	-112	-5.08	-34	-191	-2,039	-1,170	-207	-328
Other Investing Activities, net	4.40	8.87	14	21	23	3.09	-25	13	50	40	27
Net Cash From Financing Activities	-140	-184	-155	-48	-55	-307	-221	1,679	876	-400	-377
Net Cash From Continuing Financing Activities	-140	-184	-155	-48	-55	-307	-221	1,679	880	-400	-377
Repayment of Debt	-795	-312	-362	-696	-1,011	-755	-665	-1,953	-2,524	-1,790	-3,256
Repurchase of Common Equity	-5.91	-5.00	0.00	0.00	-19	-55	-168	-126	-53	-34	-35
Payment of Dividends	-3.38	-1.55	-23	-10	-6.53	-6.25	-6.02	-4.53	-9.08	-11	-5.37
Issuance of Debt	669	137	233	1,172	987	530	664	3,809	3,483	1,443	3,057
Issuance of Common Equity	0.17	0.19	0.02	0.18	0.04	0.07	0.05	0.00	0.00	0.45	3.66
Other Financing Activities, net	-4.87	-1.84	-3.05	-513	-4.47	-21	-47	-47	-17	-8.14	-141
Effect of Exchange Rate Changes	-3.60	-6.30	21	-8.17	-3.99	1.64	-5.45	5.30	14	12	-15

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	1/3/2026
Net Change in Cash & Equivalents	-18	9.41	11	28	-27	-4.65	-44	6.86	-5.45	-15	-0.65
Net Cash From Operating Activities	217	277	217	264	147	274	154	249	146	224	441
Net Cash From Continuing Operating Activities	217	277	217	264	147	274	154	249	146	224	441
Net Income / (Loss) Continuing Operations	255	128	87	82	81	19	104	-24	14	21	59
Consolidated Net Income / (Loss)	255	128	87	82	81	19	104	-24	14	21	59
Depreciation Expense	122	126	138	128	125	124	128	124	121	124	140
Amortization Expense	1.52	1.54	1.54	1.40	1.40	1.42	1.42	1.43	1.46	0.95	1.67
Non-Cash Adjustments To Reconcile Net Income	-106	18	69	1.42	11	139	34	144	27	29	314
Changes in Operating Assets and Liabilities, net	-55	2.92	-79	52	-72	-8.33	-113	3.69	-18	50	-74
Net Cash From Investing Activities	-92	-158	-169	-291	-97	-65	-46	-51	-109	-287	-235
Net Cash From Continuing Investing Activities	-92	-158	-169	-291	-97	-65	-46	-51	-109	-287	-235
Purchase of Property, Plant & Equipment	-123	-146	-175	-94	-98	-67	-73	-63	-71	-90	-156
Acquisitions	-	-14	-0.00	-200	-6.98	0.20	-0.00	-0.15	-40	-201	-87
Other Investing Activities, net	31	2.08	6.11	2.76	8.24	2.27	27	12	2.26	3.26	9.28
Net Cash From Financing Activities	-153	-118	-26	49	-81	-201	-166	-185	-31	47	-208
Net Cash From Continuing Financing Activities	-153	-118	-26	49	-81	-201	-166	-185	-31	47	-208
Repayment of Debt	-867	-674	-720	-533	-587	-406	-264	-237	-1,861	-570	-587
Payment of Dividends	-	-3.80	-0.45	-	-	-6.65	-2.09	-	-	-11	5.44
Issuance of Debt	729	561	698	588	538	212	105	93	1,857	691	416
Other Financing Activities, net	-0.26	-1.72	-3.81	-6.91	-0.30	-0.78	-0.16	-6.54	-27	-65	-42
Effect of Exchange Rate Changes	9.25	9.02	-11	6.47	4.11	-13	15	-6.21	-12	1.41	1.50

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	2025
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	1/3/2026
Total Assets	4,761	4,698	4,958	4,889	5,345	5,613	6,134	9,202	11,061	10,070	10,299
Total Current Assets	932	893	956	898	917	987	1,089	1,638	1,856	1,439	1,553
Cash & Equivalents	157	115	107	107	73	82	69	127	127	76	89
Restricted Cash	0.33	0.29	0.14	0.11	0.11	0.10	0.17	0.32	0.29	38	17
Accounts Receivable	371	388	392	386	406	405	469	677	798	591	643
Inventories, net	345	331	358	341	363	406	457	674	759	577	528
Prepaid Expenses	36	30	38	35	47	48	54	86	106	81	85
Current Deferred & Refundable Income Taxes	12	7.48	4.51	6.46	3.32	3.88	1.08	19	24	35	8.28
Other Current Assets	10	22	57	22	25	42	39	56	43	42	40
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	0.00	143
Plant, Property, & Equipment, net	1,508	1,516	1,646	1,688	1,802	1,864	1,840	2,462	2,935	2,714	2,796
Total Noncurrent Assets	2,321	2,289	2,356	2,304	2,626	2,763	3,205	5,102	6,270	5,917	5,949
Long-Term Investments	247	293	302	410	689	805	1,349	1,926	2,252	2,264	2,207
Goodwill	1,233	1,226	1,301	1,229	1,223	1,260	1,219	1,970	2,485	2,323	2,459
Intangible Assets	782	712	677	596	526	474	398	865	1,076	898	845
Noncurrent Deferred & Refundable Income Taxes	16	15	14	15	14	17	16	18	18	22	25
Other Noncurrent Operating Assets	42	44	62	53	172	207	222	322	440	410	414
Total Liabilities & Shareholders' Equity	4,761	4,698	4,958	4,889	5,345	5,613	6,134	9,202	11,061	10,070	10,299
Total Liabilities	2,786	2,622	2,631	2,554	2,702	2,659	2,786	5,306	6,367	5,606	5,489
Total Current Liabilities	442	452	559	540	688	675	753	1,068	998	1,044	1,035
Short-Term Debt	45	23	16	7.49	91	28	24	70	61	133	75
Accounts Payable	150	181	217	219	239	255	307	472	426	349	371
Accrued Expenses	240	243	314	309	311	335	351	432	441	489	485
Current Deferred & Payable Income Tax Liabilities	6.68	4.91	12	4.04	8.90	17	32	45	16	9.72	16
Other Current Liabilities	-	-	-	0.00	38	39	38	49	55	63	62
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	0.00	25
Total Noncurrent Liabilities	2,344	2,170	2,071	2,013	2,014	1,984	2,033	4,237	5,369	4,563	4,455
Long-Term Debt	1,886	1,728	1,698	1,667	1,558	1,481	1,439	3,315	4,366	3,909	3,862
Noncurrent Deferred & Payable Income Tax Liabilities	361	346	267	231	248	276	363	482	498	293	241
Other Noncurrent Operating Liabilities	98	96	106	115	207	227	231	441	505	361	352
Commitments & Contingencies	0.00	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	4,810
Total Preferred & Common Equity	1,871	1,973	2,245	2,273	2,566	2,892	3,281	3,809	4,605	4,378	4,737
Total Common Equity	1,871	1,973	2,245	2,273	2,566	2,892	3,281	3,809	4,605	4,378	4,737
Common Stock	1,490	1,501	1,517	1,538	1,563	1,599	1,630	1,662	1,700	1,723	1,720
Retained Earnings	750	853	981	1,088	1,400	1,697	2,348	3,086	3,733	4,012	4,075
Treasury Stock	-34	-41	-44	-48	-75	-152	-375	-554	-629	-673	-719
Accumulated Other Comprehensive Income / (Loss)	-336	-340	-210	-305	-322	-252	-322	-384	-198	-684	-339
Noncontrolling Interest	104	103	83	63	78	62	67	87	88	86	73

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	Q1 2025	Q2 2025	Q3 2025
Period end date	10/1/2022	4/1/2023	7/1/2023	9/30/2023	3/30/2024	6/29/2024	9/28/2024	3/29/2025	6/28/2025	9/27/2025
Total Assets	8,809	10,861	10,973	10,810	10,943	10,621	10,573	10,032	10,275	10,452
Total Current Assets	1,562	1,903	1,876	1,843	1,619	1,508	1,497	1,455	1,495	1,503
Cash & Equivalents	126	133	112	119	145	122	115	81	95	91
Restricted Cash	0.10	0.30	0.30	0.30	4.09	26	39	40	28	16
Accounts Receivable	670	751	747	736	624	577	577	597	615	621
Inventories, net	642	829	825	823	687	628	618	595	605	622
Prepaid Expenses	80	109	117	102	98	89	85	90	80	89
Current Deferred & Refundable Income Taxes	18	20	23	26	32	34	40	25	24	23
Other Current Assets	26	61	53	38	28	32	24	26	48	40
Plant, Property, & Equipment, net	2,346	2,713	2,775	2,799	2,910	2,841	2,856	2,739	2,787	2,786
Total Noncurrent Assets	4,901	6,246	6,323	6,169	6,413	6,272	6,220	5,838	5,993	6,164
Long-Term Investments	1,815	2,125	2,214	2,164	2,379	2,416	2,332	2,112	2,162	2,325
Goodwill	1,900	2,588	2,566	2,447	2,498	2,418	2,456	2,389	2,478	2,499
Intangible Assets	874	1,091	1,075	1,091	1,057	993	977	898	899	881
Noncurrent Deferred & Refundable Income Taxes	15	21	25	25	17	17	19	18	16	16
Other Noncurrent Operating Assets	298	421	443	441	462	429	436	421	438	442
Total Liabilities & Shareholders' Equity	8,809	10,861	10,973	10,810	10,943	10,621	10,573	10,032	10,275	10,452
Total Liabilities	5,140	6,740	6,523	6,343	6,260	6,078	5,938	5,496	5,582	5,683
Total Current Liabilities	1,028	1,099	1,014	1,034	967	963	1,063	1,036	997	1,010
Short-Term Debt	64	119	88	74	103	92	114	117	52	77
Accounts Payable	398	434	427	395	343	350	332	348	366	375
Accrued Expenses	479	463	420	494	450	450	542	492	498	475
Current Deferred & Payable Income Tax Liabilities	43	38	30	18	12	13	15	15	15	16
Other Current Liabilities	44	45	48	52	59	58	60	64	67	67
Total Noncurrent Liabilities	4,112	5,641	5,509	5,310	5,292	5,115	4,876	4,461	4,585	4,673
Long-Term Debt	3,221	4,559	4,459	4,338	4,363	4,317	4,132	3,805	3,929	4,027
Noncurrent Deferred & Payable Income Tax Liabilities	462	523	562	503	464	401	375	289	283	271
Other Noncurrent Operating Liabilities	429	559	488	469	465	397	369	366	373	376
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	3,669	4,122	4,451	4,467	4,683	4,543	4,634	4,536	4,693	4,769
Total Preferred & Common Equity	3,580	4,033	4,368	4,381	4,593	4,461	4,551	4,448	4,613	4,689
Total Common Equity	3,580	4,033	4,368	4,381	4,593	4,461	4,551	4,448	4,613	4,689
Common Stock	1,654	1,675	1,682	1,693	1,714	1,725	1,726	1,725	1,730	1,735
Retained Earnings	2,929	3,271	3,524	3,649	3,814	3,893	3,910	3,986	3,999	4,018
Treasury Stock	-530	-615	-625	-629	-637	-667	-667	-719	-719	-719
Accumulated Other Comprehensive Income / (Loss)	-473	-299	-213	-332	-298	-491	-418	-544	-396	-345
Noncontrolling Interest	89	89	82	86	90	82	83	87	80	80

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	2025
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	1/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	158,186,082.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	158,186,082.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.40
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	123	135	352	229	401	366	708	860	871	541	315
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	11.81%	9.55%	6.36%	3.61%
Earnings before Interest and Taxes (EBIT)	131	146	153	228	471	423	878	1,014	974	489	274
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	411	447	464	558	802	779	1,198	1,414	1,482	999	788
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	514	217	139	369	364	320	891	-974	-644	1,154	128
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
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	6,316
Increase / (Decrease) in Invested Capital	-391	-82	213	-140	38	46	-183	1,835	1,515	-613	187
Book Value per Share	$11.36	$11.99	$13.63	$13.80	$15.67	$17.84	$20.28	$23.77	$28.87	$27.53	$29.95
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	$9.06
Total Capital	3,906	3,827	4,042	4,010	4,293	4,462	4,811	7,281	9,121	8,506	8,747
Total Debt	1,931	1,751	1,714	1,674	1,649	1,508	1,463	3,385	4,427	4,042	3,937
Total Long-Term Debt	1,886	1,728	1,698	1,667	1,558	1,481	1,439	3,315	4,366	3,909	3,862
Net Debt	1,527	1,343	1,305	1,157	887	622	45	1,331	2,049	1,665	1,625
Capital Expenditures (CapEx)	230	244	274	322	359	280	274	391	555	332	380
Debt-free, Cash-free Net Working Capital (DFCFNWC)	378	350	306	258	247	258	292	512	791	415	489
Debt-free Net Working Capital (DFNWC)	535	465	413	365	320	339	361	640	918	529	594
Net Working Capital (NWC)	490	441	397	357	229	312	336	570	858	396	519
Net Nonoperating Expense (NNE)	38	28	219	123	80	66	50	113	211	255	245
Net Nonoperating Obligations (NNO)	1,527	1,343	1,305	1,157	887	622	45	1,331	2,049	1,665	1,507
Total Depreciation and Amortization (D&A)	280	301	311	329	331	356	320	400	508	509	514
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	$0.40
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	158.60M
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	$0.39
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	158.60M
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	164.17M	164.71M	164.68M	164.66M	163.92M	162.60M	161.10M	159.95M	159.61M	158.87M	158.60M
Normalized Net Operating Profit after Tax (NOPAT)	130	136	118	243	384	399	709	895	887	302	256
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	1/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	158,186,082.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	158,186,082.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.36
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	308	203	147	131	147	699	162	20	59	76	120
Return On Investment Capital (ROIC_SIMPLE)	-	-	1.61%	-	-	-	1.91%	0.24%	0.68%	0.86%	1.37%
Earnings before Interest and Taxes (EBIT)	364	181	161	146	148	65	130	30	71	73	99
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	488	309	301	275	274	190	260	156	193	198	240
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,766	-1,380	-1,368	51	430	900	776	416	59	30	-67
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,671	6,596	6,742	6,621	6,389	6,394	6,129	6,224	6,389	6,441	6,316
Increase / (Decrease) in Invested Capital	2,074	1,583	1,515	80	-283	-201	-613	-397	0.23	46	187
Book Value per Share	$27.38	$27.47	$28.87	$28.75	$27.92	$28.62	$27.53	$28.00	$29.17	$29.64	$29.95
Tangible Book Value per Share	$4.56	$5.28	$6.55	$6.49	$6.57	$7.03	$7.27	$7.31	$7.82	$8.27	$9.06
Total Capital	8,997	8,879	9,121	9,149	8,952	8,881	8,506	8,457	8,673	8,873	8,747
Total Debt	4,547	4,412	4,427	4,466	4,409	4,246	4,042	3,922	3,980	4,104	3,937
Total Long-Term Debt	4,459	4,338	4,366	4,363	4,317	4,132	3,909	3,805	3,929	4,027	3,862
Net Debt	2,221	2,129	2,049	1,938	1,846	1,760	1,665	1,688	1,696	1,672	1,625
Capital Expenditures (CapEx)	123	146	175	94	98	67	73	63	71	90	156
Debt-free, Cash-free Net Working Capital (DFCFNWC)	839	764	791	606	489	395	415	414	428	463	489
Debt-free Net Working Capital (DFNWC)	950	883	918	755	637	549	529	536	550	570	594
Net Working Capital (NWC)	862	809	858	652	544	434	396	419	499	493	519
Net Nonoperating Expense (NNE)	52	75	59	49	66	680	59	44	45	55	61
Net Nonoperating Obligations (NNO)	2,221	2,129	2,049	1,938	1,846	1,760	1,665	1,688	1,696	1,672	1,507
Total Depreciation and Amortization (D&A)	124	128	139	129	126	125	130	125	123	125	141
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.58	$0.78	$0.53	$0.51	$0.49	$0.11	$0.64	($0.16)	$0.08	$0.12	$0.36
Adjusted Weighted Average Basic Shares Outstanding	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M	158.16M	158.19M	158.19M	158.60M
Adjusted Diluted Earnings per Share	$1.55	$0.77	$0.53	$0.50	$0.49	$0.11	$0.63	($0.16)	$0.08	$0.12	$0.35
Adjusted Weighted Average Diluted Shares Outstanding	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M	158.16M	158.19M	158.19M	158.60M
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	159.49M	159.53M	159.61M	159.78M	159.02M	159.05M	158.87M	158.16M	158.19M	158.19M	158.60M
Normalized Net Operating Profit after Tax (NOPAT)	304	124	157	110	116	54	85	25	72	54	112
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Darling Ingredients (NYSE:DAR) from the last four years of quarterly statements, focusing on trends in revenue, profitability, cash flow, and balance-sheet strength.

In Q4 2025, operating revenue reached about $1.71 billion with gross margin near 25%, up from Q4 2024’s level and marking an improvement in profitability leverage on the top line.
Q4 2025 net income attributable to common shareholders was $56.94 million, reflecting a positive earnings contribution in the quarter and an improving earnings trend through 2025.
Cash flow from continuing operations improved meaningfully in Q4 2025 to $440.6 million, versus roughly $154 million in Q4 2024, signaling stronger cash generation.
The balance sheet shows a solid equity base, with total equity around $4.69 billion and a generally constructive liquidity profile (current ratio near 1.5x as of late-2025).
Operating cash flow was positive in all four 2025 quarters, with 1Q, 2Q, 3Q, and 4Q cash from operating activities totaling about $249M, $146M, $224M, and $441M respectively, indicating ongoing and improving cash generation discipline.
Capital expenditures remain meaningful, as seen by sizable purchases of property, plant and equipment (PPE) each quarter (e.g., around $90–$156 million in various 2025 periods), suggesting ongoing investment in capacity and efficiency.
The company continued to access debt markets in 2025, with new debt issuances across several quarters to finance acquisitions and capex, reflecting financing flexibility but also a meaningful leverage footprint to support growth.
Total liabilities remained sizable (roughly $5.7–$6.0 billion in recent quarters) alongside strong equity, indicating a leveraged capital structure but a balanced distribution between debt and equity.
Operating income margin compressed in Q4 2025 (about 5.7% of revenue) versus Q4 2024 (roughly 8–9%), showing margin pressure despite higher revenue.
Q4 2025 also featured a higher restructuring charge (roughly $62.8 million), which weighed on quarterly profitability even as revenue grew.

05/11/26 12:46 PM ETAI Generated. May Contain Errors.

Darling Ingredients Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Darling Ingredients' fiscal year ends in January. Their fiscal year 2026 ended on January 3, 2026.

Darling Ingredients' net income appears to be on an upward trend, with a most recent value of $70.39 million in 2025, falling from $85.28 million in 2015. The previous period was $285.85 million in 2024. See where experts think Darling Ingredients is headed by visiting Darling Ingredients' forecast page.

Darling Ingredients' total operating income in 2025 was $273.44 million, based on the following breakdown:

Total Gross Profit: $1.47 billion
Total Operating Expenses: $1.20 billion

Over the last 10 years, Darling Ingredients' total revenue changed from $3.39 billion in 2015 to $6.14 billion in 2025, a change of 80.9%.

Darling Ingredients' total liabilities were at $5.49 billion at the end of 2025, a 2.1% decrease from 2024, and a 97.0% increase since 2015.

In the past 10 years, Darling Ingredients' cash and equivalents has ranged from $68.91 million in 2021 to $156.88 million in 2015, and is currently $88.67 million as of their latest financial filing in 2025.

Over the last 10 years, Darling Ingredients' book value per share changed from 11.36 in 2015 to 29.95 in 2025, a change of 163.7%.

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Financial statements for NYSE:DAR last updated on 3/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Darling Ingredients (DAR) Financials

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Darling Ingredients (DAR) Financials

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