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Side-by-side financial comparison of AMERICAN AXLE & MANUFACTURING HOLDINGS INC (AXL) and DARLING INGREDIENTS INC. (DAR). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.4B, roughly 1.1× AMERICAN AXLE & MANUFACTURING HOLDINGS INC). DARLING INGREDIENTS INC. runs the higher net margin — 1.2% vs -5.4%, a 6.7% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 0.2%). Over the past eight quarters, DARLING INGREDIENTS INC.'s revenue compounded faster (-1.6% CAGR vs -7.2%).
American Axle & Manufacturing, Inc. (AAM), headquartered in Detroit, Michigan, is an American manufacturer of automobile driveline and drivetrain components and systems.
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.
AXL vs DAR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.6B |
| Net Profit | $-75.3M | $19.4M |
| Gross Margin | 10.2% | 24.7% |
| Operating Margin | -2.4% | 4.6% |
| Net Margin | -5.4% | 1.2% |
| Revenue YoY | 0.2% | 10.0% |
| Net Profit YoY | -449.6% | 14.2% |
| EPS (diluted) | $-0.62 | $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 | $1.4B | — | ||
| Q3 25 | $1.5B | $1.6B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.6B | $1.5B | ||
| Q1 24 | $1.6B | $1.4B |
| Q4 25 | $-75.3M | — | ||
| Q3 25 | $9.2M | $19.4M | ||
| Q2 25 | $39.3M | $12.7M | ||
| Q1 25 | $7.1M | $-26.2M | ||
| Q4 24 | $-13.7M | $101.9M | ||
| Q3 24 | $10.0M | $16.9M | ||
| Q2 24 | $18.2M | $78.9M | ||
| Q1 24 | $20.5M | $81.2M |
| Q4 25 | 10.2% | — | ||
| Q3 25 | 12.6% | 24.7% | ||
| Q2 25 | 13.1% | 23.3% | ||
| Q1 25 | 12.3% | 22.6% | ||
| Q4 24 | 11.2% | 23.5% | ||
| Q3 24 | 11.4% | 22.1% | ||
| Q2 24 | 13.3% | 22.5% | ||
| Q1 24 | 12.4% | 21.4% |
| Q4 25 | -2.4% | — | ||
| Q3 25 | 3.2% | 4.6% | ||
| Q2 25 | 3.6% | 5.1% | ||
| Q1 25 | 3.0% | 2.1% | ||
| Q4 24 | 2.6% | 8.6% | ||
| Q3 24 | 2.8% | 4.2% | ||
| Q2 24 | 5.3% | 10.2% | ||
| Q1 24 | 4.8% | 9.7% |
| Q4 25 | -5.4% | — | ||
| Q3 25 | 0.6% | 1.2% | ||
| Q2 25 | 2.6% | 0.9% | ||
| Q1 25 | 0.5% | -1.9% | ||
| Q4 24 | -1.0% | 7.2% | ||
| Q3 24 | 0.7% | 1.2% | ||
| Q2 24 | 1.1% | 5.4% | ||
| Q1 24 | 1.3% | 5.7% |
| Q4 25 | $-0.62 | — | ||
| Q3 25 | $0.07 | $0.12 | ||
| Q2 25 | $0.32 | $0.08 | ||
| Q1 25 | $0.06 | $-0.16 | ||
| Q4 24 | $-0.11 | $0.63 | ||
| Q3 24 | $0.08 | $0.11 | ||
| Q2 24 | $0.15 | $0.49 | ||
| Q1 24 | $0.17 | $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 | $708.9M | $91.5M |
| Total DebtLower is stronger | $4.0B | $4.0B |
| Stockholders' EquityBook value | $640.0M | $4.7B |
| Total Assets | $6.7B | $10.5B |
| Debt / EquityLower = less leverage | 6.31× | 0.86× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $708.9M | — | ||
| Q3 25 | $714.1M | $91.5M | ||
| Q2 25 | $586.5M | $94.6M | ||
| Q1 25 | $549.2M | $81.5M | ||
| Q4 24 | $552.9M | $76.0M | ||
| Q3 24 | $542.5M | $114.8M | ||
| Q2 24 | $519.9M | $121.6M | ||
| Q1 24 | $469.8M | $145.5M |
| Q4 25 | $4.0B | — | ||
| Q3 25 | $2.6B | $4.0B | ||
| Q2 25 | $2.6B | $3.9B | ||
| Q1 25 | $2.6B | $3.8B | ||
| Q4 24 | $2.6B | $3.9B | ||
| Q3 24 | $2.6B | $4.1B | ||
| Q2 24 | $2.7B | $4.3B | ||
| Q1 24 | $2.7B | $4.4B |
| Q4 25 | $640.0M | — | ||
| Q3 25 | $718.4M | $4.7B | ||
| Q2 25 | $673.0M | $4.6B | ||
| Q1 25 | $596.3M | $4.4B | ||
| Q4 24 | $562.8M | $4.4B | ||
| Q3 24 | $616.3M | $4.6B | ||
| Q2 24 | $609.6M | $4.5B | ||
| Q1 24 | $621.4M | $4.6B |
| Q4 25 | $6.7B | — | ||
| Q3 25 | $5.3B | $10.5B | ||
| Q2 25 | $5.3B | $10.3B | ||
| Q1 25 | $5.1B | $10.0B | ||
| Q4 24 | $5.1B | $10.1B | ||
| Q3 24 | $5.3B | $10.6B | ||
| Q2 24 | $5.3B | $10.6B | ||
| Q1 24 | $5.4B | $10.9B |
| Q4 25 | 6.31× | — | ||
| Q3 25 | 3.61× | 0.86× | ||
| Q2 25 | 3.86× | 0.85× | ||
| Q1 25 | 4.38× | 0.86× | ||
| Q4 24 | 4.58× | 0.89× | ||
| Q3 24 | 4.28× | 0.91× | ||
| Q2 24 | 4.42× | 0.97× | ||
| Q1 24 | 4.40× | 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 | $120.5M | $224.3M |
| Free Cash FlowOCF − Capex | $54.7M | — |
| FCF MarginFCF / Revenue | 4.0% | — |
| Capex IntensityCapex / Revenue | 4.8% | — |
| Cash ConversionOCF / Net Profit | — | 11.59× |
| TTM Free Cash FlowTrailing 4 quarters | $155.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $120.5M | — | ||
| Q3 25 | $143.3M | $224.3M | ||
| Q2 25 | $91.9M | $145.8M | ||
| Q1 25 | $55.9M | $249.0M | ||
| Q4 24 | $151.2M | $154.4M | ||
| Q3 24 | $143.6M | $274.5M | ||
| Q2 24 | $142.8M | $146.5M | ||
| Q1 24 | $17.8M | $263.9M |
| Q4 25 | $54.7M | — | ||
| Q3 25 | $79.2M | — | ||
| Q2 25 | $34.6M | — | ||
| Q1 25 | $-13.4M | — | ||
| Q4 24 | $73.2M | — | ||
| Q3 24 | $70.4M | — | ||
| Q2 24 | $94.0M | — | ||
| Q1 24 | $-30.2M | — |
| Q4 25 | 4.0% | — | ||
| Q3 25 | 5.3% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | -0.9% | — | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 4.7% | — | ||
| Q2 24 | 5.8% | — | ||
| Q1 24 | -1.9% | — |
| Q4 25 | 4.8% | — | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 4.9% | — | ||
| Q4 24 | 5.6% | — | ||
| Q3 24 | 4.9% | — | ||
| Q2 24 | 3.0% | — | ||
| Q1 24 | 3.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | 15.58× | 11.59× | ||
| Q2 25 | 2.34× | 11.52× | ||
| Q1 25 | 7.87× | — | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | 14.36× | 16.19× | ||
| Q2 24 | 7.85× | 1.86× | ||
| Q1 24 | 0.87× | 3.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXL
| Driveline | $748.4M | 54% |
| Other | $345.7M | 25% |
| Metal Forming | $289.8M | 21% |
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% |
