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Side-by-side financial comparison of TopBuild Corp (BLD) 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 $1.5B, roughly 1.1× TopBuild Corp). TopBuild Corp runs the higher net margin — 7.0% vs 1.2%, a 5.8% gap on every dollar of revenue. On growth, TopBuild Corp posted the faster year-over-year revenue change (13.2% vs 10.0%). Over the past eight quarters, TopBuild Corp's revenue compounded faster (7.8% CAGR vs -1.6%).
HashiCorp, Inc. is an American software company with a freemium business model based in San Francisco, California. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect cloud-computing infrastructure. It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company name HashiCorp is a portmanteau of co-founder last name Hashimoto and Corporation.
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.
BLD vs DAR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $1.6B |
| Net Profit | $104.5M | $19.4M |
| Gross Margin | 27.2% | 24.7% |
| Operating Margin | 12.1% | 4.6% |
| Net Margin | 7.0% | 1.2% |
| Revenue YoY | 13.2% | 10.0% |
| Net Profit YoY | -30.6% | 14.2% |
| EPS (diluted) | $3.69 | $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 | $1.5B | — | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.3B | $1.4B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.3B | $1.4B |
| Q4 25 | $104.5M | — | ||
| Q3 25 | $142.2M | $19.4M | ||
| Q2 25 | $151.6M | $12.7M | ||
| Q1 25 | $123.4M | $-26.2M | ||
| Q4 24 | $150.5M | $101.9M | ||
| Q3 24 | $169.0M | $16.9M | ||
| Q2 24 | $150.7M | $78.9M | ||
| Q1 24 | $152.4M | $81.2M |
| Q4 25 | 27.2% | — | ||
| Q3 25 | 30.1% | 24.7% | ||
| Q2 25 | 30.4% | 23.3% | ||
| Q1 25 | 28.5% | 22.6% | ||
| Q4 24 | 29.9% | 23.5% | ||
| Q3 24 | 30.7% | 22.1% | ||
| Q2 24 | 31.0% | 22.5% | ||
| Q1 24 | 30.3% | 21.4% |
| Q4 25 | 12.1% | — | ||
| Q3 25 | 15.4% | 4.6% | ||
| Q2 25 | 16.9% | 5.1% | ||
| Q1 25 | 14.4% | 2.1% | ||
| Q4 24 | 16.6% | 8.6% | ||
| Q3 24 | 17.8% | 4.2% | ||
| Q2 24 | 15.4% | 10.2% | ||
| Q1 24 | 16.8% | 9.7% |
| Q4 25 | 7.0% | — | ||
| Q3 25 | 10.2% | 1.2% | ||
| Q2 25 | 11.7% | 0.9% | ||
| Q1 25 | 10.0% | -1.9% | ||
| Q4 24 | 11.5% | 7.2% | ||
| Q3 24 | 12.3% | 1.2% | ||
| Q2 24 | 11.0% | 5.4% | ||
| Q1 24 | 11.9% | 5.7% |
| Q4 25 | $3.69 | — | ||
| Q3 25 | $5.04 | $0.12 | ||
| Q2 25 | $5.32 | $0.08 | ||
| Q1 25 | $4.23 | $-0.16 | ||
| Q4 24 | $5.07 | $0.63 | ||
| Q3 24 | $5.65 | $0.11 | ||
| Q2 24 | $4.78 | $0.49 | ||
| Q1 24 | $4.79 | $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 | $184.7M | $91.5M |
| Total DebtLower is stronger | $2.8B | $4.0B |
| Stockholders' EquityBook value | $2.3B | $4.7B |
| Total Assets | $6.6B | $10.5B |
| Debt / EquityLower = less leverage | 1.23× | 0.86× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.7M | — | ||
| Q3 25 | $1.1B | $91.5M | ||
| Q2 25 | $842.5M | $94.6M | ||
| Q1 25 | $308.8M | $81.5M | ||
| Q4 24 | $400.3M | $76.0M | ||
| Q3 24 | $257.3M | $114.8M | ||
| Q2 24 | $463.2M | $121.6M | ||
| Q1 24 | $968.8M | $145.5M |
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.9B | $4.0B | ||
| Q2 25 | $1.9B | $3.9B | ||
| Q1 25 | $1.4B | $3.8B | ||
| Q4 24 | $1.4B | $3.9B | ||
| Q3 24 | $1.4B | $4.1B | ||
| Q2 24 | $1.4B | $4.3B | ||
| Q1 24 | $1.4B | $4.4B |
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.2B | $4.7B | ||
| Q2 25 | $2.1B | $4.6B | ||
| Q1 25 | $2.1B | $4.4B | ||
| Q4 24 | $2.2B | $4.4B | ||
| Q3 24 | $2.1B | $4.6B | ||
| Q2 24 | $2.4B | $4.5B | ||
| Q1 24 | $2.7B | $4.6B |
| Q4 25 | $6.6B | — | ||
| Q3 25 | $6.4B | $10.5B | ||
| Q2 25 | $5.1B | $10.3B | ||
| Q1 25 | $4.6B | $10.0B | ||
| Q4 24 | $4.7B | $10.1B | ||
| Q3 24 | $4.7B | $10.6B | ||
| Q2 24 | $4.9B | $10.6B | ||
| Q1 24 | $5.3B | $10.9B |
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.29× | 0.86× | ||
| Q2 25 | 0.88× | 0.85× | ||
| Q1 25 | 0.65× | 0.86× | ||
| Q4 24 | 0.62× | 0.89× | ||
| Q3 24 | 0.66× | 0.91× | ||
| Q2 24 | 0.59× | 0.97× | ||
| Q1 24 | 0.52× | 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 | $176.7M | $224.3M |
| Free Cash FlowOCF − Capex | $159.4M | — |
| FCF MarginFCF / Revenue | 10.7% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 1.69× | 11.59× |
| TTM Free Cash FlowTrailing 4 quarters | $696.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $176.7M | — | ||
| Q3 25 | $233.3M | $224.3M | ||
| Q2 25 | $193.7M | $145.8M | ||
| Q1 25 | $152.6M | $249.0M | ||
| Q4 24 | $266.2M | $154.4M | ||
| Q3 24 | $240.7M | $274.5M | ||
| Q2 24 | $90.4M | $146.5M | ||
| Q1 24 | $178.8M | $263.9M |
| Q4 25 | $159.4M | — | ||
| Q3 25 | $216.2M | — | ||
| Q2 25 | $182.2M | — | ||
| Q1 25 | $139.2M | — | ||
| Q4 24 | $253.7M | — | ||
| Q3 24 | $219.8M | — | ||
| Q2 24 | $74.3M | — | ||
| Q1 24 | $158.9M | — |
| Q4 25 | 10.7% | — | ||
| Q3 25 | 15.5% | — | ||
| Q2 25 | 14.0% | — | ||
| Q1 25 | 11.3% | — | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 16.0% | — | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 12.4% | — |
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.2% | — | ||
| Q1 24 | 1.6% | — |
| Q4 25 | 1.69× | — | ||
| Q3 25 | 1.64× | 11.59× | ||
| Q2 25 | 1.28× | 11.52× | ||
| Q1 25 | 1.24× | — | ||
| Q4 24 | 1.77× | 1.52× | ||
| Q3 24 | 1.42× | 16.19× | ||
| Q2 24 | 0.60× | 1.86× | ||
| Q1 24 | 1.17× | 3.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
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% |
