Friday 6 November 2026 Export DAR’s income statement to Excel — free account

Darling Ingredients Inc.

Darling Ingredients Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.1 billion, up 7.36% from fiscal 2024.

Revenue: +14.5%
EPS: +1,323.7%
Free cash flow: +428.2%
Total debt: −0.82%

Quarter to September 2026, against a year earlier

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50.98 1.32 −2.52%

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Market cap: $8.0B
P/E: 9.5×
Fwd P/E: 8.2×
Dividend yield: —
F-score: 7/9
Altman Z: 1.92
Beneish M: −2.93
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Darling Ingredients Inc. (DAR) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Feed Ingredients	3,990	65.03%
Food Ingredients	1,545	25.18%
Fuel Ingredients	601	9.79%
Gross margin		24.01%
Operating margin		4.46%
Pre-tax margin		0.99%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Fats	1,780 29.00%	1,464 25.62%	1,904 28.05%	2,157 33.02%	1,381 29.12%	805 22.53%	718 21.35%	729 21.51%	832 22.72%	741 21.84%
Proteins	1,409 22.97%	1,485 25.98%	1,672 24.63%	1,477 22.60%	1,023 21.57%	830 23.24%	791 23.52%	843 24.88%	816 22.28%	769 22.68%
Food ingredients	1,254 20.44%	1,233 21.57%	1,477 21.76%	1,122 17.18%	962 20.28%	948 26.54%	895 26.60%	886 26.15%	880 24.03%	826 24.36%
Bioenergy	601 9.79%	550 9.63%	563 8.30%	534 8.17%	427 9.00%	293 8.21%	235 6.98%	247 7.30%	219 5.97%	198 5.84%
Used cooking oil	445 7.26%	351 6.15%	498 7.33%	519 7.95%	319 6.73%	177 4.95%	186 5.52%	167 4.92%	186 5.07%	165 4.87%
Other rendering	296 4.82%	294 5.14%	244 3.59%	201 3.08%	173 3.66%	179 5.00%	168 4.99%	129 3.82%	286 7.81%	269 7.94%
Bakery	195 3.19%	190 3.33%	255 3.76%	333 5.10%	287 6.06%	184 5.14%	192 5.69%	180 5.32%	210 5.73%	220 6.50%
Other	156 2.54%	148 2.59%	175 2.58%	190 2.90%	166 3.50%	136 3.80%	140 4.17%	158 4.66%	187 5.10%	154 4.54%
Biofuels	—	—	—	—	3 0.07%	21 0.58%	40 1.18%	49 1.44%	47 1.28%	49 1.44%
Revenue	6,136	5,715	6,788	6,532	4,741	3,572	3,364	3,388	3,662	3,392

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Feed Ingredients	3,990 65.03%	3,676 64.31%	4,473 65.89%	4,539 69.49%	3,040 64.11%	2,072 58.01%	1,971 58.58%	1,953 57.64%	2,239 61.15%	2,089 61.59%	2,074 61.17%	2,421 61.20%	1,789 99.24%	1,767 99.66%	—	—	—
Food Ingredients	1,545 25.18%	1,489 26.06%	1,752 25.81%	1,460 22.35%	1,272 26.82%	1,186 33.20%	1,119 33.27%	1,139 33.63%	1,157 31.59%	1,056 31.12%	1,089 32.10%	1,248 31.55%	0 0.00%	0 0.00%	—	—	—
Fuel Ingredients	601 9.79%	550 9.63%	563 8.30%	534 8.17%	430 9.07%	314 8.79%	274 8.15%	296 8.74%	266 7.26%	247 7.28%	228 6.73%	287 7.24%	14 0.76%	6 0.34%	—	—	—
Corporate	—	—	—	—	0 0.00%	0 0.00%	0 0.00%	0 0.00%	0 0.00%	0 0.00%	0 0.00%	0 0.00%	0 0.00%	0 0.00%	—	—	—
Rendering	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1,501 83.53%	715 98.59%	598 100.00%
Bakery	—	—	—	—	—	—	—	—	—	—	—	—	—	—	296 16.47%	10 1.41%	0 0.00%
Revenue	6,136	5,715	6,788	6,532	4,741	3,572	3,364	3,388	3,662	3,392	3,391	3,956	1,802	1,773	1,797	725	598

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Feed Ingredients	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Food Ingredients	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Fuel Ingredients	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2011
North America	3,456 56.32%	3,250 56.86%	4,166 61.37%	4,222 64.63%	2,868 60.49%	1,961 54.89%	1,890 56.17%	1,817 53.63%	1,937 52.89%	1,818 53.59%	1,951 57.54%	2,132 53.89%	1,802 100.00%	1,773 98.63%
Europe	1,786 29.12%	1,627 28.47%	1,691 24.92%	1,770 27.10%	1,521 32.08%	1,297 36.30%	1,154 34.30%	1,225 36.17%	1,373 37.48%	1,225 36.13%	1,067 31.46%	1,438 36.35%	0 0.00%	0 0.00%
South America	571 9.30%	505 8.83%	534 7.87%	187 2.87%	31 0.66%	38 1.07%	51 1.52%	53 1.57%	60 1.64%	55 1.62%	62 1.83%	73 1.85%	0 0.00%	0 0.00%
China	261 4.26%	266 4.66%	309 4.55%	285 4.36%	253 5.34%	202 5.66%	195 5.79%	211 6.22%	210 5.73%	218 6.44%	235 6.93%	230 5.81%	0 0.00%	0 0.00%
Other	61 1.00%	67 1.18%	88 1.30%	68 1.04%	68 1.43%	74 2.08%	75 2.22%	81 2.40%	83 2.25%	75 2.22%	76 2.24%	83 2.10%	0 0.00%	0 0.00%
Other, not broken out	—	—	—	—	—	—	—	—	—	—	—	—	—	25 1.37%
Revenue	6,136	5,715	6,788	6,532	4,741	3,572	3,364	3,388	3,662	3,392	3,391	3,956	1,802	1,797

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Renewable fuels sold/shipped	Q3 FY2026	314.9M	250.0M	+25.96%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024
Renewable fuels sold/shipped	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.