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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Digital Realty (DLR). Click either name above to swap in a different company.
Digital Realty is the larger business by last-quarter revenue ($1.6B vs $1.6B, roughly 1.0× DARLING INGREDIENTS INC.). Digital Realty runs the higher net margin — 6.0% vs 1.2%, a 4.8% gap on every dollar of revenue. On growth, Digital Realty posted the faster year-over-year revenue change (16.1% vs 10.0%). Over the past eight quarters, Digital Realty's revenue compounded faster (9.8% CAGR vs -1.6%).
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.
Digital Realty is a real estate investment trust that owns, operates and invests in carrier-neutral data centers across the world. The company offers data center, colocation, and interconnection services.
DAR vs DLR — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.6B |
| Net Profit | $19.4M | $98.6M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | 6.9% |
| Net Margin | 1.2% | 6.0% |
| Revenue YoY | 10.0% | 16.1% |
| Net Profit YoY | 14.2% | -10.3% |
| EPS (diluted) | $0.12 | $0.22 |
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 | — | $1.6B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $1.6B | $1.6B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $1.5B | $1.4B |
| Q1 26 | — | $98.6M | ||
| Q4 25 | — | $98.6M | ||
| Q3 25 | $19.4M | $67.8M | ||
| Q2 25 | $12.7M | $1.0B | ||
| Q1 25 | $-26.2M | $110.0M | ||
| Q4 24 | $101.9M | $189.6M | ||
| Q3 24 | $16.9M | $51.2M | ||
| Q2 24 | $78.9M | $80.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 24.7% | — | ||
| Q2 25 | 23.3% | — | ||
| Q1 25 | 22.6% | — | ||
| Q4 24 | 23.5% | — | ||
| Q3 24 | 22.1% | — | ||
| Q2 24 | 22.5% | — |
| Q1 26 | — | 6.9% | ||
| Q4 25 | — | 6.9% | ||
| Q3 25 | 4.6% | 8.8% | ||
| Q2 25 | 5.1% | 14.2% | ||
| Q1 25 | 2.1% | 13.9% | ||
| Q4 24 | 8.6% | 10.1% | ||
| Q3 24 | 4.2% | 11.8% | ||
| Q2 24 | 10.2% | 0.7% |
| Q1 26 | — | 6.0% | ||
| Q4 25 | — | 6.0% | ||
| Q3 25 | 1.2% | 4.3% | ||
| Q2 25 | 0.9% | 69.1% | ||
| Q1 25 | -1.9% | 7.8% | ||
| Q4 24 | 7.2% | 13.2% | ||
| Q3 24 | 1.2% | 3.6% | ||
| Q2 24 | 5.4% | 5.9% |
| Q1 26 | — | $0.22 | ||
| Q4 25 | — | $0.22 | ||
| Q3 25 | $0.12 | $0.15 | ||
| Q2 25 | $0.08 | $2.94 | ||
| Q1 25 | $-0.16 | $0.27 | ||
| Q4 24 | $0.63 | $0.50 | ||
| Q3 24 | $0.11 | $0.09 | ||
| Q2 24 | $0.49 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $91.5M | $3.5B |
| Total DebtLower is stronger | $4.0B | — |
| Stockholders' EquityBook value | $4.7B | $22.9B |
| Total Assets | $10.5B | $49.4B |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $3.5B | ||
| Q4 25 | — | $3.5B | ||
| Q3 25 | $91.5M | $3.3B | ||
| Q2 25 | $94.6M | $3.6B | ||
| Q1 25 | $81.5M | $2.3B | ||
| Q4 24 | $76.0M | $3.9B | ||
| Q3 24 | $114.8M | $2.2B | ||
| Q2 24 | $121.6M | $2.3B |
| 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 | — | $22.9B | ||
| Q4 25 | — | $22.9B | ||
| Q3 25 | $4.7B | $23.0B | ||
| Q2 25 | $4.6B | $22.9B | ||
| Q1 25 | $4.4B | $21.3B | ||
| Q4 24 | $4.4B | $21.3B | ||
| Q3 24 | $4.6B | $21.2B | ||
| Q2 24 | $4.5B | $20.5B |
| Q1 26 | — | $49.4B | ||
| Q4 25 | — | $49.4B | ||
| Q3 25 | $10.5B | $48.7B | ||
| Q2 25 | $10.3B | $48.7B | ||
| Q1 25 | $10.0B | $45.1B | ||
| Q4 24 | $10.1B | $45.3B | ||
| Q3 24 | $10.6B | $45.3B | ||
| Q2 24 | $10.6B | $43.6B |
| 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 | — | — |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $719.0M | ||
| Q3 25 | $224.3M | $652.9M | ||
| Q2 25 | $145.8M | $641.2M | ||
| Q1 25 | $249.0M | $399.1M | ||
| Q4 24 | $154.4M | $769.5M | ||
| Q3 24 | $274.5M | $566.5M | ||
| Q2 24 | $146.5M | $573.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.29× | ||
| Q3 25 | 11.59× | 9.63× | ||
| Q2 25 | 11.52× | 0.62× | ||
| Q1 25 | — | 3.63× | ||
| Q4 24 | 1.52× | 4.06× | ||
| Q3 24 | 16.19× | 11.07× | ||
| Q2 24 | 1.86× | 7.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
DLR
Segment breakdown not available.
