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Side-by-side financial comparison of BXP, Inc. (BXP) 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 $872.1M, roughly 1.8× BXP, Inc.). BXP, Inc. runs the higher net margin — 15.3% vs 1.2%, a 14.0% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 0.8%). Over the past eight quarters, BXP, Inc.'s revenue compounded faster (1.3% CAGR vs -1.6%).
BXP Inc., operating as Boston Properties, is a leading U.S. real estate investment trust focused on owning, managing and developing high-quality Class A commercial office properties across major U.S. metro markets, serving diverse corporate, tech and professional service tenants.
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.
BXP vs DAR — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $1.6B |
| Net Profit | $133.0M | $19.4M |
| Gross Margin | — | 24.7% |
| Operating Margin | — | 4.6% |
| Net Margin | 15.3% | 1.2% |
| Revenue YoY | 0.8% | 10.0% |
| Net Profit YoY | 53.0% | 14.2% |
| EPS (diluted) | $1.69 | $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.
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | — | ||
| Q3 25 | $871.5M | $1.6B | ||
| Q2 25 | $868.5M | $1.5B | ||
| Q1 25 | $865.2M | $1.4B | ||
| Q4 24 | $858.6M | $1.4B | ||
| Q3 24 | $859.2M | $1.4B | ||
| Q2 24 | $850.5M | $1.5B |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | — | ||
| Q3 25 | $-121.7M | $19.4M | ||
| Q2 25 | $89.0M | $12.7M | ||
| Q1 25 | $61.2M | $-26.2M | ||
| Q4 24 | $-228.9M | $101.9M | ||
| Q3 24 | $83.6M | $16.9M | ||
| Q2 24 | $79.6M | $78.9M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | — | ||
| Q3 25 | 59.3% | 24.7% | ||
| Q2 25 | 59.2% | 23.3% | ||
| Q1 25 | 59.2% | 22.6% | ||
| Q4 24 | 59.7% | 23.5% | ||
| Q3 24 | 59.5% | 22.1% | ||
| Q2 24 | 59.8% | 22.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | — | 4.2% | ||
| Q2 24 | — | 10.2% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | — | ||
| Q3 25 | -14.0% | 1.2% | ||
| Q2 25 | 10.2% | 0.9% | ||
| Q1 25 | 7.1% | -1.9% | ||
| Q4 24 | -26.7% | 7.2% | ||
| Q3 24 | 9.7% | 1.2% | ||
| Q2 24 | 9.4% | 5.4% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | — | ||
| Q3 25 | $-0.77 | $0.12 | ||
| Q2 25 | $0.56 | $0.08 | ||
| Q1 25 | $0.39 | $-0.16 | ||
| Q4 24 | $-1.46 | $0.63 | ||
| Q3 24 | $0.53 | $0.11 | ||
| Q2 24 | $0.51 | $0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $512.8M | $91.5M |
| Total DebtLower is stronger | — | $4.0B |
| Stockholders' EquityBook value | $7.7B | $4.7B |
| Total Assets | $25.1B | $10.5B |
| Debt / EquityLower = less leverage | — | 0.86× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $861.1M | $91.5M | ||
| Q2 25 | $447.0M | $94.6M | ||
| Q1 25 | $398.1M | $81.5M | ||
| Q4 24 | $1.3B | $76.0M | ||
| Q3 24 | $1.4B | $114.8M | ||
| Q2 24 | $685.4M | $121.6M |
| Q1 26 | — | — | ||
| 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 26 | $7.7B | — | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | $4.7B | ||
| Q2 25 | $5.3B | $4.6B | ||
| Q1 25 | $5.3B | $4.4B | ||
| Q4 24 | $5.4B | $4.4B | ||
| Q3 24 | $5.8B | $4.6B | ||
| Q2 24 | $5.8B | $4.5B |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | — | ||
| Q3 25 | $26.0B | $10.5B | ||
| Q2 25 | $25.6B | $10.3B | ||
| Q1 25 | $25.4B | $10.0B | ||
| Q4 24 | $26.1B | $10.1B | ||
| Q3 24 | $26.4B | $10.6B | ||
| Q2 24 | $25.5B | $10.6B |
| Q1 26 | — | — | ||
| 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× |
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 | — | $224.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | — | 11.59× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | — | ||
| Q3 25 | $274.2M | $224.3M | ||
| Q2 25 | $353.1M | $145.8M | ||
| Q1 25 | $210.0M | $249.0M | ||
| Q4 24 | $383.7M | $154.4M | ||
| Q3 24 | $286.1M | $274.5M | ||
| Q2 24 | $367.1M | $146.5M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | — | ||
| Q3 25 | $231.6M | — | ||
| Q2 25 | $281.5M | — | ||
| Q1 25 | $152.6M | — | ||
| Q4 24 | $312.5M | — | ||
| Q3 24 | $234.5M | — | ||
| Q2 24 | $332.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | — | ||
| Q3 25 | 26.6% | — | ||
| Q2 25 | 32.4% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 27.3% | — | ||
| Q2 24 | 39.1% | — |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 8.2% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 4.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | 11.59× | ||
| Q2 25 | 3.97× | 11.52× | ||
| Q1 25 | 3.43× | — | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | 3.42× | 16.19× | ||
| Q2 24 | 4.61× | 1.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BXP
| Lease | $818.2M | 94% |
| Parking and other | $30.8M | 4% |
| Development and management services | $9.2M | 1% |
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% |
