Darling Ingredients Inc. (DAR)

Darling Ingredients Inc. develops, produces, and sells sustainable natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The Feed Ingredients segment collects and processes animal by-products into non-food grade oils and protein meals; bakery residuals into cookie meal used in poultry and swine rations; used cooking oil into non-food grade fats; and porcine and bovine blood into blood plasma powder and hemoglobin. This segment is also involved in the processing of selected portions of slaughtered animals into pet food, as well as of cattle hides and hog skins; production of organic fertilizers; rearing and processing of black soldier fly larvae into specialty proteins and fats for use in animal feed and pet food; and grease trap collection services to food service establishments. Its Food Ingredients segment engages in the purchase and processing of beef and pork bone chips, beef hides, and pig and fish skins into collagen; collection and processing of porcine and bovine intestines into natural casings; extraction and processing of porcine mucosa into crude heparin; collection and refining of animal fat into food grade fat; and processing of bones to bone chips and bone ash. The Fuel Ingredients segment is involved in the conversion of organic sludge and food waste into biogas; collection and conversion of fallen stock and certain animal by-products into low-grade energy sources; and processing of manure into natural bio-phosphate. It also provides environmental services, including disposal services; and yellow grease, fuel feedstock, and agriculture-based biofuels. The company sells its products under the Rendac, Sonac, FASA, Ecoson, Rousselot, Gelnex, and CTH brands. The company was formerly known as Darling International Inc. and changed its name to Darling Ingredients Inc. in May 2014. Darling Ingredients Inc. was founded in 1882 and is headquartered in Irving, Texas.

Ticker
DAR
Exchange
NYSE
Sector
Consumer Defensive
Industry
Packaged Foods
Market cap
$7.96B
52-week range
$31.62 - $69.98

Valuation

Share price
$50.19 (close of Nov 6, 2026)
P/E (TTM)
13.31x
Price to book
1.50x
Price to free cash flow
8.19x
Enterprise value
$11.97B
Book value per share
$33.47

Price performance

PeriodChange
1 day-1.01%
5 days-9.94%
1 month-17.95%
3 months-17.06%
6 months-20.47%
Year to date+39.42%
1 year+57.24%
3 years+13.86%
5 years-40.81%
10 years+276.24%
All time+1,334.00%

Short interest

As of
Oct 15, 2026
Short % of float
3.65%
Shares short
5.68M
Days to cover
2.67
Change since prior report
+4.44%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
1.31%
Return on invested capital
3.05%
Return on assets
0.61%
Return on capital employed
2.95%
Gross margin
24.01%
Net margin
1.02%
EBITDA margin
12.74%
Revenue growth
7.36%
Net income growth
-77.48%
Free cash flow growth
34.02%

Cash flow and balance sheet

Free cash flow yield (TTM)
12.20%
Current ratio
1.56x
Net debt to EBITDA
2.69x

Latest reported year

Period end
Jan 3, 2026
Fiscal year
2025
Revenue
$6.14B
Cost of revenue
$4.66B
Gross profit
$1.47B
EBITDA
$781.94M
Net income
$62.80M
Earnings per share
$0.40
Interest expense
$222.28M
Shares outstanding
158.48M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2026-01-03$6.14B$1.47B$62.80M$0.40
2024-12-28$5.72B$1.28B$278.88M$1.75
2023-12-30$6.79B$1.65B$647.73M$4.05
2022-12-31$6.53B$1.53B$737.69M$4.58
2022-01-01$4.74B$1.24B$650.91M$4.01
2021-01-02$3.57B$883.11M$296.82M$1.83
2019-12-28$3.36B$774.82M$312.60M$1.90
2018-12-29$3.39B$741.35M$101.50M$0.62
2017-12-30$3.66B$786.57M$128.47M$0.78
2016-12-31$3.39B$756.60M$102.31M$0.62

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2026-01-0324.01%1.02%1.31%3.05%
2024-12-2822.36%4.88%6.25%5.37%
2023-12-3024.23%9.54%13.80%9.54%
2022-12-3123.42%11.29%18.93%11.81%
2022-01-0126.19%13.73%19.44%14.50%
2021-01-0224.72%8.31%10.05%8.19%
2019-12-2823.03%9.29%11.83%9.42%
2018-12-2921.88%3.00%4.35%6.06%
2017-12-3021.48%3.51%5.52%4.19%
2016-12-3122.31%3.02%4.93%3.64%

Cash and debt by year

Period endCashDebt
2026-01-03$88.67M$3.86B
2024-12-28$75.97M$3.91B
2023-12-30$126.50M$4.37B
2022-12-31$127.02M$3.31B
2022-01-01$68.91M$1.44B
2021-01-02$81.62M$1.48B
2019-12-28$72.94M$1.56B
2018-12-29$107.26M$1.67B
2017-12-30$106.77M$1.70B
2016-12-31$114.56M$1.73B

Free cash flow by year

Period endFree cash flowStock-based compensation
2026-01-03$679.24M$21.80M
2024-12-28$506.82M$20.92M
2023-12-30$343.78M$33.16M
2022-12-31$422.43M$25.00M
2022-01-01$430.29M$21.84M
2021-01-02$344.54M$23.22M
2019-12-28$3.12M$21.01M
2018-12-29$76.72M$18.78M
2017-12-30$136.27M$17.60M
2016-12-31$147.47M$10.33M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-28Sep 2026$1.64
2026-07-30Jun 2026$1.45
2026-04-30Mar 2026$0.58
2026-02-11Dec 2025$0.43
2025-10-23Sep 2025$0.13
2025-07-24Jun 2025$0.12
2025-04-24Mar 2025$0.20
2025-02-25--

Filings and sources

Company website
darlingii.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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