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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and F&G Annuities & Life, Inc. (FG). Click either name above to swap in a different company.
F&G Annuities & Life, Inc. is the larger business by last-quarter revenue ($1.8B vs $1.6B, roughly 1.1× DARLING INGREDIENTS INC.). F&G Annuities & Life, Inc. runs the higher net margin — 7.3% vs 1.2%, a 6.0% gap on every dollar of revenue. On growth, F&G Annuities & Life, Inc. posted the faster year-over-year revenue change (13.2% vs 10.0%). Over the past eight quarters, F&G Annuities & Life, Inc.'s revenue compounded faster (6.1% 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.
F&G Annuities & Life, Inc. is a public company headquartered in Des Moines, Iowa. It primarily provides annuities, life insurance, and pension buyout services. The company was founded in 1959.
DAR vs FG — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.8B |
| Net Profit | $19.4M | $128.0M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | — |
| Net Margin | 1.2% | 7.3% |
| Revenue YoY | 10.0% | 13.2% |
| Net Profit YoY | 14.2% | -60.9% |
| EPS (diluted) | $0.12 | $0.97 |
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 | — | $1.8B | ||
| Q3 25 | $1.6B | $1.7B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.4B | $908.0M | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.4B | $1.6B |
| Q4 25 | — | $128.0M | ||
| Q3 25 | $19.4M | $118.0M | ||
| Q2 25 | $12.7M | $40.0M | ||
| Q1 25 | $-26.2M | $-21.0M | ||
| Q4 24 | $101.9M | $327.0M | ||
| Q3 24 | $16.9M | $-6.0M | ||
| Q2 24 | $78.9M | $203.0M | ||
| Q1 24 | $81.2M | $115.0M |
| 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 24 | 21.4% | — |
| 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 24 | 9.7% | — |
| Q4 25 | — | 7.3% | ||
| Q3 25 | 1.2% | 7.0% | ||
| Q2 25 | 0.9% | 2.9% | ||
| Q1 25 | -1.9% | -2.3% | ||
| Q4 24 | 7.2% | 21.0% | ||
| Q3 24 | 1.2% | -0.4% | ||
| Q2 24 | 5.4% | 17.3% | ||
| Q1 24 | 5.7% | 7.3% |
| Q4 25 | — | $0.97 | ||
| Q3 25 | $0.12 | $0.85 | ||
| Q2 25 | $0.08 | $0.26 | ||
| Q1 25 | $-0.16 | $-0.20 | ||
| Q4 24 | $0.63 | $2.53 | ||
| Q3 24 | $0.11 | $-0.08 | ||
| Q2 24 | $0.49 | $1.55 | ||
| Q1 24 | $0.50 | $0.88 |
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 | $1.5B |
| Total DebtLower is stronger | $4.0B | $2.2B |
| Stockholders' EquityBook value | $4.7B | $4.8B |
| Total Assets | $10.5B | $98.4B |
| Debt / EquityLower = less leverage | 0.86× | 0.47× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.5B | ||
| Q3 25 | $91.5M | $2.2B | ||
| Q2 25 | $94.6M | $1.9B | ||
| Q1 25 | $81.5M | $3.3B | ||
| Q4 24 | $76.0M | $2.3B | ||
| Q3 24 | $114.8M | $3.5B | ||
| Q2 24 | $121.6M | $3.5B | ||
| Q1 24 | $145.5M | $2.4B |
| Q4 25 | — | $2.2B | ||
| Q3 25 | $4.0B | $2.2B | ||
| Q2 25 | $3.9B | $2.2B | ||
| Q1 25 | $3.8B | $2.2B | ||
| Q4 24 | $3.9B | $2.2B | ||
| Q3 24 | $4.1B | $2.0B | ||
| Q2 24 | $4.3B | $2.0B | ||
| Q1 24 | $4.4B | $1.7B |
| Q4 25 | — | $4.8B | ||
| Q3 25 | $4.7B | $4.8B | ||
| Q2 25 | $4.6B | $4.4B | ||
| Q1 25 | $4.4B | $4.4B | ||
| Q4 24 | $4.4B | $4.0B | ||
| Q3 24 | $4.6B | $4.3B | ||
| Q2 24 | $4.5B | $3.7B | ||
| Q1 24 | $4.6B | $3.5B |
| Q4 25 | — | $98.4B | ||
| Q3 25 | $10.5B | $96.1B | ||
| Q2 25 | $10.3B | $91.8B | ||
| Q1 25 | $10.0B | $88.0B | ||
| Q4 24 | $10.1B | $85.0B | ||
| Q3 24 | $10.6B | $84.1B | ||
| Q2 24 | $10.6B | $78.5B | ||
| Q1 24 | $10.9B | $74.4B |
| Q4 25 | — | 0.47× | ||
| Q3 25 | 0.86× | 0.46× | ||
| Q2 25 | 0.85× | 0.50× | ||
| Q1 25 | 0.86× | 0.51× | ||
| Q4 24 | 0.89× | 0.55× | ||
| Q3 24 | 0.91× | 0.47× | ||
| Q2 24 | 0.97× | 0.56× | ||
| Q1 24 | 0.95× | 0.49× |
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 | $1.2B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 11.59× | 9.13× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.2B | ||
| Q3 25 | $224.3M | $937.0M | ||
| Q2 25 | $145.8M | $1.6B | ||
| Q1 25 | $249.0M | $956.0M | ||
| Q4 24 | $154.4M | $1.3B | ||
| Q3 24 | $274.5M | $2.1B | ||
| Q2 24 | $146.5M | $1.1B | ||
| Q1 24 | $263.9M | $1.5B |
| Q4 25 | — | 9.13× | ||
| Q3 25 | 11.59× | 7.94× | ||
| Q2 25 | 11.52× | 40.50× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | 4.04× | ||
| Q3 24 | 16.19× | — | ||
| Q2 24 | 1.86× | 5.20× | ||
| Q1 24 | 3.25× | 13.34× |
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% |
FG
Segment breakdown not available.
