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Side-by-side financial comparison of Bunge Global (BG) and DARLING INGREDIENTS INC. (DAR). Click either name above to swap in a different company.
Bunge Global is the larger business by last-quarter revenue ($4.9B vs $1.6B, roughly 3.1× DARLING INGREDIENTS INC.). Bunge Global runs the higher net margin — 1.9% vs 1.2%, a 0.7% gap on every dollar of revenue. On growth, Bunge Global posted the faster year-over-year revenue change (22.2% vs 10.0%). Over the past eight quarters, Bunge Global's revenue compounded faster (11.3% CAGR vs -1.6%).
Bunge Global SA (BUN-ghee) is a global agribusiness and food company, incorporated in Geneva, Switzerland and headquartered in St. Louis, Missouri, United States.
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.
BG vs DAR — Head-to-Head
Income Statement — Q4 2025 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $1.6B |
| Net Profit | $95.0M | $19.4M |
| Gross Margin | 20.7% | 24.7% |
| Operating Margin | 1.8% | 4.6% |
| Net Margin | 1.9% | 1.2% |
| Revenue YoY | 22.2% | 10.0% |
| Net Profit YoY | -84.2% | 14.2% |
| EPS (diluted) | $-0.02 | $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 | $4.9B | — | ||
| Q3 25 | $4.4B | $1.6B | ||
| Q2 25 | $4.0B | $1.5B | ||
| Q1 25 | $3.7B | $1.4B | ||
| Q4 24 | $4.0B | $1.4B | ||
| Q3 24 | $3.9B | $1.4B | ||
| Q2 24 | $3.7B | $1.5B | ||
| Q1 24 | $3.9B | $1.4B |
| Q4 25 | $95.0M | — | ||
| Q3 25 | $166.0M | $19.4M | ||
| Q2 25 | $354.0M | $12.7M | ||
| Q1 25 | $201.0M | $-26.2M | ||
| Q4 24 | $602.0M | $101.9M | ||
| Q3 24 | $221.0M | $16.9M | ||
| Q2 24 | $70.0M | $78.9M | ||
| Q1 24 | $244.0M | $81.2M |
| Q4 25 | 20.7% | — | ||
| Q3 25 | 24.3% | 24.7% | ||
| Q2 25 | 18.4% | 23.3% | ||
| Q1 25 | 16.3% | 22.6% | ||
| Q4 24 | 27.0% | 23.5% | ||
| Q3 24 | 19.9% | 22.1% | ||
| Q2 24 | 17.8% | 22.5% | ||
| Q1 24 | 22.2% | 21.4% |
| Q4 25 | 1.8% | — | ||
| Q3 25 | 6.2% | 4.6% | ||
| Q2 25 | 12.3% | 5.1% | ||
| Q1 25 | 7.8% | 2.1% | ||
| Q4 24 | 18.3% | 8.6% | ||
| Q3 24 | 8.3% | 4.2% | ||
| Q2 24 | 2.8% | 10.2% | ||
| Q1 24 | 9.4% | 9.7% |
| Q4 25 | 1.9% | — | ||
| Q3 25 | 3.8% | 1.2% | ||
| Q2 25 | 8.8% | 0.9% | ||
| Q1 25 | 5.5% | -1.9% | ||
| Q4 24 | 15.0% | 7.2% | ||
| Q3 24 | 5.7% | 1.2% | ||
| Q2 24 | 1.9% | 5.4% | ||
| Q1 24 | 6.2% | 5.7% |
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $0.84 | $0.12 | ||
| Q2 25 | $2.61 | $0.08 | ||
| Q1 25 | $1.48 | $-0.16 | ||
| Q4 24 | $4.27 | $0.63 | ||
| Q3 24 | $1.56 | $0.11 | ||
| Q2 24 | $0.48 | $0.49 | ||
| Q1 24 | $1.68 | $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 | $2.0B | $91.5M |
| Total DebtLower is stronger | $10.2B | $4.0B |
| Stockholders' EquityBook value | $15.9B | $4.7B |
| Total Assets | $44.5B | $10.5B |
| Debt / EquityLower = less leverage | 0.64× | 0.86× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | — | ||
| Q3 25 | $3.2B | $91.5M | ||
| Q2 25 | $7.1B | $94.6M | ||
| Q1 25 | $3.9B | $81.5M | ||
| Q4 24 | $3.8B | $76.0M | ||
| Q3 24 | $3.0B | $114.8M | ||
| Q2 24 | $1.3B | $121.6M | ||
| Q1 24 | $3.1B | $145.5M |
| Q4 25 | $10.2B | — | ||
| Q3 25 | $11.1B | $4.0B | ||
| Q2 25 | $7.7B | $3.9B | ||
| Q1 25 | $5.4B | $3.8B | ||
| Q4 24 | $5.4B | $3.9B | ||
| Q3 24 | $5.4B | $4.1B | ||
| Q2 24 | $4.1B | $4.3B | ||
| Q1 24 | $4.1B | $4.4B |
| Q4 25 | $15.9B | — | ||
| Q3 25 | $15.8B | $4.7B | ||
| Q2 25 | $10.9B | $4.6B | ||
| Q1 25 | $10.6B | $4.4B | ||
| Q4 24 | $9.9B | $4.4B | ||
| Q3 24 | $10.1B | $4.6B | ||
| Q2 24 | $10.0B | $4.5B | ||
| Q1 24 | $10.6B | $4.6B |
| Q4 25 | $44.5B | — | ||
| Q3 25 | $46.3B | $10.5B | ||
| Q2 25 | $31.2B | $10.3B | ||
| Q1 25 | $26.7B | $10.0B | ||
| Q4 24 | $24.9B | $10.1B | ||
| Q3 24 | $25.3B | $10.6B | ||
| Q2 24 | $24.4B | $10.6B | ||
| Q1 24 | $25.8B | $10.9B |
| Q4 25 | 0.64× | — | ||
| Q3 25 | 0.71× | 0.86× | ||
| Q2 25 | 0.71× | 0.85× | ||
| Q1 25 | 0.51× | 0.86× | ||
| Q4 24 | 0.54× | 0.89× | ||
| Q3 24 | 0.54× | 0.91× | ||
| Q2 24 | 0.41× | 0.97× | ||
| Q1 24 | 0.39× | 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 | $1.3B | $224.3M |
| Free Cash FlowOCF − Capex | $809.0M | — |
| FCF MarginFCF / Revenue | 16.6% | — |
| Capex IntensityCapex / Revenue | 11.0% | — |
| Cash ConversionOCF / Net Profit | 14.18× | 11.59× |
| TTM Free Cash FlowTrailing 4 quarters | $-879.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | — | ||
| Q3 25 | $854.0M | $224.3M | ||
| Q2 25 | $-1.1B | $145.8M | ||
| Q1 25 | $-285.0M | $249.0M | ||
| Q4 24 | $1.1B | $154.4M | ||
| Q3 24 | $1.3B | $274.5M | ||
| Q2 24 | $-1.5B | $146.5M | ||
| Q1 24 | $994.0M | $263.9M |
| Q4 25 | $809.0M | — | ||
| Q3 25 | $385.0M | — | ||
| Q2 25 | $-1.5B | — | ||
| Q1 25 | $-595.0M | — | ||
| Q4 24 | $564.0M | — | ||
| Q3 24 | $973.0M | — | ||
| Q2 24 | $-1.8B | — | ||
| Q1 24 | $758.0M | — |
| Q4 25 | 16.6% | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | -36.8% | — | ||
| Q1 25 | -16.2% | — | ||
| Q4 24 | 14.1% | — | ||
| Q3 24 | 25.1% | — | ||
| Q2 24 | -47.4% | — | ||
| Q1 24 | 19.2% | — |
| Q4 25 | 11.0% | — | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | 10.1% | — | ||
| Q1 25 | 8.5% | — | ||
| Q4 24 | 12.2% | — | ||
| Q3 24 | 9.1% | — | ||
| Q2 24 | 8.0% | — | ||
| Q1 24 | 6.0% | — |
| Q4 25 | 14.18× | — | ||
| Q3 25 | 5.14× | 11.59× | ||
| Q2 25 | -3.03× | 11.52× | ||
| Q1 25 | -1.42× | — | ||
| Q4 24 | 1.75× | 1.52× | ||
| Q3 24 | 6.00× | 16.19× | ||
| Q2 24 | -21.06× | 1.86× | ||
| Q1 24 | 4.07× | 3.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BG
| Other Oilseeds Processing And Refining | $4.6B | 95% |
| Other | $251.0M | 5% |
| Other Products | $3.0M | 0% |
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% |
