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Side-by-side financial comparison of AMERICAN FINANCIAL GROUP INC (AFG) and DARLING INGREDIENTS INC. (DAR). Click either name above to swap in a different company.
AMERICAN FINANCIAL GROUP INC is the larger business by last-quarter revenue ($2.1B vs $1.6B, roughly 1.3× DARLING INGREDIENTS INC.). AMERICAN FINANCIAL GROUP INC runs the higher net margin — 14.5% vs 1.2%, a 13.3% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs -4.0%). Over the past eight quarters, AMERICAN FINANCIAL GROUP INC's revenue compounded faster (4.0% CAGR vs -1.6%).
The Western Union Company is an American multinational financial services corporation headquartered in Denver, Colorado.
Darling Ingredients Inc. is a global sustainable natural ingredients maker that converts edible and inedible organic byproducts into high-value products: food-grade nutritional ingredients, animal feed additives, pharmaceutical raw materials and biofuel components, serving food, agriculture, pharma and renewable energy markets across North America, Europe and Asia-Pacific.
AFG vs DAR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.6B |
| Net Profit | $299.0M | $19.4M |
| Gross Margin | — | 24.7% |
| Operating Margin | 18.4% | 4.6% |
| Net Margin | 14.5% | 1.2% |
| Revenue YoY | -4.0% | 10.0% |
| Net Profit YoY | 17.3% | 14.2% |
| EPS (diluted) | $3.59 | $0.12 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $2.1B | $1.4B | ||
| Q3 24 | $2.4B | $1.4B | ||
| Q2 24 | $1.9B | $1.5B | ||
| Q1 24 | $1.9B | $1.4B |
| Q4 25 | $299.0M | — | ||
| Q3 25 | $215.0M | $19.4M | ||
| Q2 25 | $174.0M | $12.7M | ||
| Q1 25 | $154.0M | $-26.2M | ||
| Q4 24 | $255.0M | $101.9M | ||
| Q3 24 | $181.0M | $16.9M | ||
| Q2 24 | $209.0M | $78.9M | ||
| Q1 24 | $242.0M | $81.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | 24.7% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 22.5% | ||
| Q1 24 | — | 21.4% |
| Q4 25 | 18.4% | — | ||
| Q3 25 | 11.5% | 4.6% | ||
| Q2 25 | 11.9% | 5.1% | ||
| Q1 25 | 10.6% | 2.1% | ||
| Q4 24 | 14.9% | 8.6% | ||
| Q3 24 | 9.7% | 4.2% | ||
| Q2 24 | 14.3% | 10.2% | ||
| Q1 24 | 15.9% | 9.7% |
| Q4 25 | 14.5% | — | ||
| Q3 25 | 9.2% | 1.2% | ||
| Q2 25 | 9.0% | 0.9% | ||
| Q1 25 | 8.3% | -1.9% | ||
| Q4 24 | 11.9% | 7.2% | ||
| Q3 24 | 7.6% | 1.2% | ||
| Q2 24 | 11.0% | 5.4% | ||
| Q1 24 | 12.7% | 5.7% |
| Q4 25 | $3.59 | — | ||
| Q3 25 | $2.58 | $0.12 | ||
| Q2 25 | $2.07 | $0.08 | ||
| Q1 25 | $1.84 | $-0.16 | ||
| Q4 24 | $3.03 | $0.63 | ||
| Q3 24 | $2.16 | $0.11 | ||
| Q2 24 | $2.49 | $0.49 | ||
| Q1 24 | $2.89 | $0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7B | $91.5M |
| Total DebtLower is stronger | $1.8B | $4.0B |
| Stockholders' EquityBook value | $4.8B | $4.7B |
| Total Assets | $32.6B | $10.5B |
| Debt / EquityLower = less leverage | 0.38× | 0.86× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.8B | $91.5M | ||
| Q2 25 | $1.3B | $94.6M | ||
| Q1 25 | $1.3B | $81.5M | ||
| Q4 24 | $1.4B | $76.0M | ||
| Q3 24 | $1.3B | $114.8M | ||
| Q2 24 | $1.1B | $121.6M | ||
| Q1 24 | $1.1B | $145.5M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | $4.0B | ||
| Q2 25 | $1.5B | $3.9B | ||
| Q1 25 | $1.5B | $3.8B | ||
| Q4 24 | $1.5B | $3.9B | ||
| Q3 24 | $1.5B | $4.1B | ||
| Q2 24 | $1.5B | $4.3B | ||
| Q1 24 | $1.5B | $4.4B |
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.7B | $4.7B | ||
| Q2 25 | $4.5B | $4.6B | ||
| Q1 25 | $4.4B | $4.4B | ||
| Q4 24 | $4.5B | $4.4B | ||
| Q3 24 | $4.7B | $4.6B | ||
| Q2 24 | $4.4B | $4.5B | ||
| Q1 24 | $4.2B | $4.6B |
| Q4 25 | $32.6B | — | ||
| Q3 25 | $33.8B | $10.5B | ||
| Q2 25 | $30.7B | $10.3B | ||
| Q1 25 | $30.3B | $10.0B | ||
| Q4 24 | $30.8B | $10.1B | ||
| Q3 24 | $32.6B | $10.6B | ||
| Q2 24 | $29.9B | $10.6B | ||
| Q1 24 | $30.0B | $10.9B |
| Q4 25 | 0.38× | — | ||
| Q3 25 | 0.38× | 0.86× | ||
| Q2 25 | 0.33× | 0.85× | ||
| Q1 25 | 0.34× | 0.86× | ||
| Q4 24 | 0.33× | 0.89× | ||
| Q3 24 | 0.31× | 0.91× | ||
| Q2 24 | 0.34× | 0.97× | ||
| Q1 24 | 0.35× | 0.95× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $784.0M | $224.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.62× | 11.59× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.0M | — | ||
| Q3 25 | $216.0M | $224.3M | ||
| Q2 25 | $191.0M | $145.8M | ||
| Q1 25 | $342.0M | $249.0M | ||
| Q4 24 | $674.0M | $154.4M | ||
| Q3 24 | $459.0M | $274.5M | ||
| Q2 24 | $-88.0M | $146.5M | ||
| Q1 24 | $107.0M | $263.9M |
| Q4 25 | 2.62× | — | ||
| Q3 25 | 1.00× | 11.59× | ||
| Q2 25 | 1.10× | 11.52× | ||
| Q1 25 | 2.22× | — | ||
| Q4 24 | 2.64× | 1.52× | ||
| Q3 24 | 2.54× | 16.19× | ||
| Q2 24 | -0.42× | 1.86× | ||
| Q1 24 | 0.44× | 3.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AFG
| Property And Casualty Insurance | $2.0B | 96% |
| Other | $83.0M | 4% |
DAR
| Fats | $428.4M | 27% |
| Food Ingredients | $380.6M | 24% |
| Diamond Green Diesel Holdings Llc Joint Venture | $342.1M | 22% |
| Fuel Ingredients | $154.3M | 10% |
| Used Cooking Oil | $125.9M | 8% |
| Other Rendering | $76.9M | 5% |
| Bakery | $46.9M | 3% |
| Other Products And Services | $12.2M | 1% |
