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Side-by-side financial comparison of BWX Technologies, Inc. (BWXT) 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 $885.8M, roughly 1.8× BWX Technologies, Inc.). BWX Technologies, Inc. runs the higher net margin — 10.5% vs 1.2%, a 9.3% gap on every dollar of revenue. On growth, BWX Technologies, Inc. posted the faster year-over-year revenue change (18.7% vs 10.0%). Over the past eight quarters, BWX Technologies, Inc.'s revenue compounded faster (21.1% CAGR vs -1.6%).
BWX Technologies, Inc. is a company headquartered in Lynchburg, Virginia that supplies nuclear components and fuel internationally.
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.
BWXT vs DAR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $885.8M | $1.6B |
| Net Profit | $93.0M | $19.4M |
| Gross Margin | — | 24.7% |
| Operating Margin | 10.4% | 4.6% |
| Net Margin | 10.5% | 1.2% |
| Revenue YoY | 18.7% | 10.0% |
| Net Profit YoY | 30.9% | 14.2% |
| EPS (diluted) | $1.02 | $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 | $885.8M | — | ||
| Q3 25 | $866.3M | $1.6B | ||
| Q2 25 | $764.0M | $1.5B | ||
| Q1 25 | $682.3M | $1.4B | ||
| Q4 24 | $746.3M | $1.4B | ||
| Q3 24 | $672.0M | $1.4B | ||
| Q2 24 | $681.5M | $1.5B | ||
| Q1 24 | $604.0M | $1.4B |
| Q4 25 | $93.0M | — | ||
| Q3 25 | $82.1M | $19.4M | ||
| Q2 25 | $78.4M | $12.7M | ||
| Q1 25 | $75.5M | $-26.2M | ||
| Q4 24 | $71.0M | $101.9M | ||
| Q3 24 | $69.5M | $16.9M | ||
| Q2 24 | $73.0M | $78.9M | ||
| Q1 24 | $68.5M | $81.2M |
| Q4 25 | — | — | ||
| Q3 25 | 21.8% | 24.7% | ||
| Q2 25 | 25.1% | 23.3% | ||
| Q1 25 | 24.2% | 22.6% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | 24.4% | 22.1% | ||
| Q2 24 | 24.7% | 22.5% | ||
| Q1 24 | 24.6% | 21.4% |
| Q4 25 | 10.4% | — | ||
| Q3 25 | 13.1% | 4.6% | ||
| Q2 25 | 13.4% | 5.1% | ||
| Q1 25 | 14.2% | 2.1% | ||
| Q4 24 | 12.4% | 8.6% | ||
| Q3 24 | 14.4% | 4.2% | ||
| Q2 24 | 14.5% | 10.2% | ||
| Q1 24 | 15.4% | 9.7% |
| Q4 25 | 10.5% | — | ||
| Q3 25 | 9.5% | 1.2% | ||
| Q2 25 | 10.3% | 0.9% | ||
| Q1 25 | 11.1% | -1.9% | ||
| Q4 24 | 9.5% | 7.2% | ||
| Q3 24 | 10.3% | 1.2% | ||
| Q2 24 | 10.7% | 5.4% | ||
| Q1 24 | 11.3% | 5.7% |
| Q4 25 | $1.02 | — | ||
| Q3 25 | $0.89 | $0.12 | ||
| Q2 25 | $0.85 | $0.08 | ||
| Q1 25 | $0.82 | $-0.16 | ||
| Q4 24 | $0.77 | $0.63 | ||
| Q3 24 | $0.76 | $0.11 | ||
| Q2 24 | $0.79 | $0.49 | ||
| Q1 24 | $0.75 | $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 | $499.8M | $91.5M |
| Total DebtLower is stronger | — | $4.0B |
| Stockholders' EquityBook value | $1.2B | $4.7B |
| Total Assets | $4.3B | $10.5B |
| Debt / EquityLower = less leverage | — | 0.86× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $499.8M | — | ||
| Q3 25 | $79.6M | $91.5M | ||
| Q2 25 | $37.0M | $94.6M | ||
| Q1 25 | $55.4M | $81.5M | ||
| Q4 24 | $74.1M | $76.0M | ||
| Q3 24 | $35.5M | $114.8M | ||
| Q2 24 | $48.3M | $121.6M | ||
| Q1 24 | $45.9M | $145.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.4B |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $4.7B | ||
| Q2 25 | $1.2B | $4.6B | ||
| Q1 25 | $1.1B | $4.4B | ||
| Q4 24 | $1.1B | $4.4B | ||
| Q3 24 | $1.1B | $4.6B | ||
| Q2 24 | $998.5M | $4.5B | ||
| Q1 24 | $946.2M | $4.6B |
| Q4 25 | $4.3B | — | ||
| Q3 25 | $3.8B | $10.5B | ||
| Q2 25 | $3.7B | $10.3B | ||
| Q1 25 | $3.1B | $10.0B | ||
| Q4 24 | $2.9B | $10.1B | ||
| Q3 24 | $2.9B | $10.6B | ||
| Q2 24 | $2.8B | $10.6B | ||
| Q1 24 | $2.8B | $10.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.86× | ||
| Q2 25 | — | 0.85× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | 0.89× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | 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 | $127.0M | $224.3M |
| Free Cash FlowOCF − Capex | $56.8M | — |
| FCF MarginFCF / Revenue | 6.4% | — |
| Capex IntensityCapex / Revenue | 7.9% | — |
| Cash ConversionOCF / Net Profit | 1.37× | 11.59× |
| TTM Free Cash FlowTrailing 4 quarters | $295.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $127.0M | — | ||
| Q3 25 | $143.2M | $224.3M | ||
| Q2 25 | $159.0M | $145.8M | ||
| Q1 25 | $50.6M | $249.0M | ||
| Q4 24 | $276.9M | $154.4M | ||
| Q3 24 | $32.6M | $274.5M | ||
| Q2 24 | $65.9M | $146.5M | ||
| Q1 24 | $33.0M | $263.9M |
| Q4 25 | $56.8M | — | ||
| Q3 25 | $94.9M | — | ||
| Q2 25 | $126.3M | — | ||
| Q1 25 | $17.3M | — | ||
| Q4 24 | $224.4M | — | ||
| Q3 24 | $-7.7M | — | ||
| Q2 24 | $35.5M | — | ||
| Q1 24 | $2.6M | — |
| Q4 25 | 6.4% | — | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 16.5% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 30.1% | — | ||
| Q3 24 | -1.1% | — | ||
| Q2 24 | 5.2% | — | ||
| Q1 24 | 0.4% | — |
| Q4 25 | 7.9% | — | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 4.9% | — | ||
| Q4 24 | 7.0% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 4.5% | — | ||
| Q1 24 | 5.0% | — |
| Q4 25 | 1.37× | — | ||
| Q3 25 | 1.74× | 11.59× | ||
| Q2 25 | 2.03× | 11.52× | ||
| Q1 25 | 0.67× | — | ||
| Q4 24 | 3.90× | 1.52× | ||
| Q3 24 | 0.47× | 16.19× | ||
| Q2 24 | 0.90× | 1.86× | ||
| Q1 24 | 0.48× | 3.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BWXT
| Nuclear Component Program | $436.4M | 49% |
| Nuclear Manufacturing | $134.8M | 15% |
| Cost Plus Fee | $116.1M | 13% |
| Uranium And Nuclear Services | $103.8M | 12% |
| Commercial Operations | $49.0M | 6% |
| Commercial Operations Segment | $33.7M | 4% |
| Transferred At Point In Time | $1.3M | 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% |
