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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Element Solutions Inc (ESI). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $840.0M, roughly 1.9× Element Solutions Inc). Element Solutions Inc runs the higher net margin — 6.7% vs 1.2%, a 5.4% gap on every dollar of revenue. On growth, Element Solutions Inc posted the faster year-over-year revenue change (41.0% vs 10.0%). Over the past eight quarters, Element Solutions Inc's revenue compounded faster (17.1% 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.
Element Solutions Inc is an American specialty chemicals production corporation listed on the New York Stock Exchange.
DAR vs ESI — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $840.0M |
| Net Profit | $19.4M | $56.0M |
| Gross Margin | 24.7% | 38.4% |
| Operating Margin | 4.6% | 13.3% |
| Net Margin | 1.2% | 6.7% |
| Revenue YoY | 10.0% | 41.0% |
| Net Profit YoY | 14.2% | -43.0% |
| EPS (diluted) | $0.12 | $0.23 |
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 | — | $840.0M | ||
| Q4 25 | — | $676.2M | ||
| Q3 25 | $1.6B | $656.1M | ||
| Q2 25 | $1.5B | $625.2M | ||
| Q1 25 | $1.4B | $593.7M | ||
| Q4 24 | $1.4B | $624.2M | ||
| Q3 24 | $1.4B | $645.0M | ||
| Q2 24 | $1.5B | $612.7M |
| Q1 26 | — | $56.0M | ||
| Q4 25 | — | $6.2M | ||
| Q3 25 | $19.4M | $39.3M | ||
| Q2 25 | $12.7M | $47.4M | ||
| Q1 25 | $-26.2M | $98.0M | ||
| Q4 24 | $101.9M | $54.7M | ||
| Q3 24 | $16.9M | $40.3M | ||
| Q2 24 | $78.9M | $93.2M |
| Q1 26 | — | 38.4% | ||
| Q4 25 | — | 40.9% | ||
| Q3 25 | 24.7% | 42.2% | ||
| Q2 25 | 23.3% | 42.6% | ||
| Q1 25 | 22.6% | 42.2% | ||
| Q4 24 | 23.5% | 41.0% | ||
| Q3 24 | 22.1% | 41.5% | ||
| Q2 24 | 22.5% | 43.6% |
| Q1 26 | — | 13.3% | ||
| Q4 25 | — | 10.3% | ||
| Q3 25 | 4.6% | 15.4% | ||
| Q2 25 | 5.1% | 15.1% | ||
| Q1 25 | 2.1% | 13.0% | ||
| Q4 24 | 8.6% | 12.0% | ||
| Q3 24 | 4.2% | 14.7% | ||
| Q2 24 | 10.2% | 15.7% |
| Q1 26 | — | 6.7% | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | 1.2% | 6.0% | ||
| Q2 25 | 0.9% | 7.6% | ||
| Q1 25 | -1.9% | 16.5% | ||
| Q4 24 | 7.2% | 8.8% | ||
| Q3 24 | 1.2% | 6.2% | ||
| Q2 24 | 5.4% | 15.2% |
| Q1 26 | — | $0.23 | ||
| Q4 25 | — | $0.03 | ||
| Q3 25 | $0.12 | $0.16 | ||
| Q2 25 | $0.08 | $0.20 | ||
| Q1 25 | $-0.16 | $0.40 | ||
| Q4 24 | $0.63 | $0.22 | ||
| Q3 24 | $0.11 | $0.17 | ||
| Q2 24 | $0.49 | $0.39 |
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 | $177.3M |
| Total DebtLower is stronger | $4.0B | — |
| Stockholders' EquityBook value | $4.7B | $2.7B |
| Total Assets | $10.5B | $5.7B |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $177.3M | ||
| Q4 25 | — | $626.5M | ||
| Q3 25 | $91.5M | $594.3M | ||
| Q2 25 | $94.6M | $529.9M | ||
| Q1 25 | $81.5M | $499.2M | ||
| Q4 24 | $76.0M | $359.4M | ||
| Q3 24 | $114.8M | $376.0M | ||
| Q2 24 | $121.6M | $309.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $4.0B | $1.6B | ||
| Q2 25 | $3.9B | $1.6B | ||
| Q1 25 | $3.8B | $1.6B | ||
| Q4 24 | $3.9B | $1.8B | ||
| Q3 24 | $4.1B | $1.9B | ||
| Q2 24 | $4.3B | $1.9B |
| Q1 26 | — | $2.7B | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $4.7B | $2.7B | ||
| Q2 25 | $4.6B | $2.6B | ||
| Q1 25 | $4.4B | $2.5B | ||
| Q4 24 | $4.4B | $2.4B | ||
| Q3 24 | $4.6B | $2.4B | ||
| Q2 24 | $4.5B | $2.4B |
| Q1 26 | — | $5.7B | ||
| Q4 25 | — | $5.1B | ||
| Q3 25 | $10.5B | $5.0B | ||
| Q2 25 | $10.3B | $5.0B | ||
| Q1 25 | $10.0B | $4.8B | ||
| Q4 24 | $10.1B | $4.9B | ||
| Q3 24 | $10.6B | $5.1B | ||
| Q2 24 | $10.6B | $5.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.61× | ||
| Q3 25 | 0.86× | 0.61× | ||
| Q2 25 | 0.85× | 0.62× | ||
| Q1 25 | 0.86× | 0.64× | ||
| Q4 24 | 0.89× | 0.76× | ||
| Q3 24 | 0.91× | 0.78× | ||
| Q2 24 | 0.97× | 0.81× |
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 | — | $-74.2M |
| FCF MarginFCF / Revenue | — | -8.8% |
| Capex IntensityCapex / Revenue | — | 3.0% |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $224.3M | $100.1M | ||
| Q2 25 | $145.8M | — | ||
| Q1 25 | $249.0M | $26.0M | ||
| Q4 24 | $154.4M | — | ||
| Q3 24 | $274.5M | $98.5M | ||
| Q2 24 | $146.5M | — |
| Q1 26 | — | $-74.2M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $83.6M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $15.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $85.9M | ||
| Q2 24 | — | — |
| Q1 26 | — | -8.8% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 12.7% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 13.3% | ||
| Q2 24 | — | — |
| Q1 26 | — | 3.0% | ||
| Q4 25 | — | 2.5% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 11.59× | 2.55× | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | 2.44× | ||
| Q2 24 | 1.86× | — |
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% |
ESI
| Electronics ex-Metals | $377.8M | 45% |
| Pass-through Metals | $255.7M | 30% |
| Other | $206.5M | 25% |
