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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Dexcom (DXCM). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.3B, roughly 1.2× Dexcom). Dexcom runs the higher net margin — 21.2% vs 1.2%, a 20.0% gap on every dollar of revenue. On growth, Dexcom posted the faster year-over-year revenue change (21.6% vs 10.0%). Over the past eight quarters, Dexcom's revenue compounded faster (12.0% 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.
Dexcom, Inc. is an American multinational healthcare company that develops, manufactures, produces and distributes a line of continuous glucose monitoring (CGM) systems for diabetes management. It operates internationally with global headquarters and R&D center in San Diego, California, U.S.A. and manufacturing facilities in Mesa, Arizona, U.S.A.; Batu Kawan, Malaysia and Athenry, County Galway, Ireland.
DAR vs DXCM — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.3B |
| Net Profit | $19.4M | $267.3M |
| Gross Margin | 24.7% | 62.9% |
| Operating Margin | 4.6% | 25.6% |
| Net Margin | 1.2% | 21.2% |
| Revenue YoY | 10.0% | 21.6% |
| Net Profit YoY | 14.2% | 153.6% |
| EPS (diluted) | $0.12 | $0.67 |
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 | — | $1.3B | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.4B | $994.2M | ||
| Q2 24 | $1.5B | $1.0B |
| Q1 26 | — | $267.3M | ||
| Q4 25 | — | $267.3M | ||
| Q3 25 | $19.4M | $283.8M | ||
| Q2 25 | $12.7M | $179.8M | ||
| Q1 25 | $-26.2M | $105.4M | ||
| Q4 24 | $101.9M | $151.7M | ||
| Q3 24 | $16.9M | $134.6M | ||
| Q2 24 | $78.9M | $143.5M |
| Q1 26 | — | 62.9% | ||
| Q4 25 | — | 62.9% | ||
| Q3 25 | 24.7% | 60.5% | ||
| Q2 25 | 23.3% | 59.5% | ||
| Q1 25 | 22.6% | 56.9% | ||
| Q4 24 | 23.5% | 58.9% | ||
| Q3 24 | 22.1% | 59.7% | ||
| Q2 24 | 22.5% | 62.4% |
| Q1 26 | — | 25.6% | ||
| Q4 25 | — | 25.6% | ||
| Q3 25 | 4.6% | 20.1% | ||
| Q2 25 | 5.1% | 18.4% | ||
| Q1 25 | 2.1% | 12.9% | ||
| Q4 24 | 8.6% | 17.0% | ||
| Q3 24 | 4.2% | 15.3% | ||
| Q2 24 | 10.2% | 15.7% |
| Q1 26 | — | 21.2% | ||
| Q4 25 | — | 21.2% | ||
| Q3 25 | 1.2% | 23.5% | ||
| Q2 25 | 0.9% | 15.5% | ||
| Q1 25 | -1.9% | 10.2% | ||
| Q4 24 | 7.2% | 13.6% | ||
| Q3 24 | 1.2% | 13.5% | ||
| Q2 24 | 5.4% | 14.3% |
| Q1 26 | — | $0.67 | ||
| Q4 25 | — | $0.67 | ||
| Q3 25 | $0.12 | $0.70 | ||
| Q2 25 | $0.08 | $0.45 | ||
| Q1 25 | $-0.16 | $0.27 | ||
| Q4 24 | $0.63 | $0.37 | ||
| Q3 24 | $0.11 | $0.34 | ||
| Q2 24 | $0.49 | $0.35 |
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 | $917.7M |
| Total DebtLower is stronger | $4.0B | — |
| Stockholders' EquityBook value | $4.7B | $2.7B |
| Total Assets | $10.5B | $6.3B |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $917.7M | ||
| Q4 25 | — | $917.7M | ||
| Q3 25 | $91.5M | $1.8B | ||
| Q2 25 | $94.6M | $1.2B | ||
| Q1 25 | $81.5M | $904.9M | ||
| Q4 24 | $76.0M | $606.1M | ||
| Q3 24 | $114.8M | $621.2M | ||
| Q2 24 | $121.6M | $939.2M |
| 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 | — | $2.7B | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $4.7B | $2.7B | ||
| Q2 25 | $4.6B | $2.6B | ||
| Q1 25 | $4.4B | $2.3B | ||
| Q4 24 | $4.4B | $2.1B | ||
| Q3 24 | $4.6B | $2.0B | ||
| Q2 24 | $4.5B | $2.4B |
| Q1 26 | — | $6.3B | ||
| Q4 25 | — | $6.3B | ||
| Q3 25 | $10.5B | $7.5B | ||
| Q2 25 | $10.3B | $7.3B | ||
| Q1 25 | $10.0B | $6.8B | ||
| Q4 24 | $10.1B | $6.5B | ||
| Q3 24 | $10.6B | $6.4B | ||
| Q2 24 | $10.6B | $6.8B |
| 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 | — | $294.0M | ||
| Q3 25 | $224.3M | $659.9M | ||
| Q2 25 | $145.8M | $303.0M | ||
| Q1 25 | $249.0M | $183.8M | ||
| Q4 24 | $154.4M | $301.4M | ||
| Q3 24 | $274.5M | $199.5M | ||
| Q2 24 | $146.5M | $279.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $192.1M | ||
| Q3 25 | — | $579.4M | ||
| Q2 25 | — | $208.9M | ||
| Q1 25 | — | $96.8M | ||
| Q4 24 | — | $176.8M | ||
| Q3 24 | — | $88.3M | ||
| Q2 24 | — | $213.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.3% | ||
| Q3 25 | — | 47.9% | ||
| Q2 25 | — | 18.1% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | 21.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 8.1% | ||
| Q1 25 | — | 8.4% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 11.2% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.10× | ||
| Q3 25 | 11.59× | 2.33× | ||
| Q2 25 | 11.52× | 1.69× | ||
| Q1 25 | — | 1.74× | ||
| Q4 24 | 1.52× | 1.99× | ||
| Q3 24 | 16.19× | 1.48× | ||
| Q2 24 | 1.86× | 1.95× |
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% |
DXCM
Segment breakdown not available.
