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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and FIRST HORIZON CORP (FHN). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $888.0M, roughly 1.8× FIRST HORIZON CORP). FIRST HORIZON CORP runs the higher net margin — 29.4% vs 1.2%, a 28.2% gap on every dollar of revenue. On growth, FIRST HORIZON CORP posted the faster year-over-year revenue change (21.8% vs 10.0%). Over the past eight quarters, FIRST HORIZON CORP's revenue compounded faster (20.0% 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.
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
DAR vs FHN — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $888.0M |
| Net Profit | $19.4M | $261.0M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | 38.5% |
| Net Margin | 1.2% | 29.4% |
| Revenue YoY | 10.0% | 21.8% |
| Net Profit YoY | 14.2% | 57.2% |
| EPS (diluted) | $0.12 | $0.51 |
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 | — | $888.0M | ||
| Q3 25 | $1.6B | $889.0M | ||
| Q2 25 | $1.5B | $830.0M | ||
| Q1 25 | $1.4B | $812.0M | ||
| Q4 24 | $1.4B | $729.0M | ||
| Q3 24 | $1.4B | $827.0M | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.4B | $819.0M |
| Q4 25 | — | $261.0M | ||
| Q3 25 | $19.4M | $262.0M | ||
| Q2 25 | $12.7M | $241.0M | ||
| Q1 25 | $-26.2M | $218.0M | ||
| Q4 24 | $101.9M | $166.0M | ||
| Q3 24 | $16.9M | $218.0M | ||
| Q2 24 | $78.9M | — | ||
| Q1 24 | $81.2M | $192.0M |
| 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 | — | 38.5% | ||
| Q3 25 | 4.6% | 38.7% | ||
| Q2 25 | 5.1% | 37.2% | ||
| Q1 25 | 2.1% | 35.1% | ||
| Q4 24 | 8.6% | 28.8% | ||
| Q3 24 | 4.2% | 34.0% | ||
| Q2 24 | 10.2% | — | ||
| Q1 24 | 9.7% | 31.0% |
| Q4 25 | — | 29.4% | ||
| Q3 25 | 1.2% | 29.5% | ||
| Q2 25 | 0.9% | 29.0% | ||
| Q1 25 | -1.9% | 26.8% | ||
| Q4 24 | 7.2% | 22.8% | ||
| Q3 24 | 1.2% | 26.4% | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 5.7% | 23.4% |
| Q4 25 | — | $0.51 | ||
| Q3 25 | $0.12 | $0.50 | ||
| Q2 25 | $0.08 | $0.45 | ||
| Q1 25 | $-0.16 | $0.41 | ||
| Q4 24 | $0.63 | $0.29 | ||
| Q3 24 | $0.11 | $0.40 | ||
| Q2 24 | $0.49 | — | ||
| Q1 24 | $0.50 | $0.33 |
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 | — |
| Total DebtLower is stronger | $4.0B | — |
| Stockholders' EquityBook value | $4.7B | $8.8B |
| Total Assets | $10.5B | $83.9B |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $91.5M | — | ||
| Q2 25 | $94.6M | — | ||
| Q1 25 | $81.5M | — | ||
| Q4 24 | $76.0M | — | ||
| Q3 24 | $114.8M | — | ||
| Q2 24 | $121.6M | — | ||
| Q1 24 | $145.5M | — |
| 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 24 | $4.4B | — |
| Q4 25 | — | $8.8B | ||
| Q3 25 | $4.7B | $8.9B | ||
| Q2 25 | $4.6B | $9.0B | ||
| Q1 25 | $4.4B | $8.7B | ||
| Q4 24 | $4.4B | $8.8B | ||
| Q3 24 | $4.6B | $9.0B | ||
| Q2 24 | $4.5B | — | ||
| Q1 24 | $4.6B | $8.9B |
| Q4 25 | — | $83.9B | ||
| Q3 25 | $10.5B | $83.2B | ||
| Q2 25 | $10.3B | $82.1B | ||
| Q1 25 | $10.0B | $81.5B | ||
| Q4 24 | $10.1B | $82.2B | ||
| Q3 24 | $10.6B | $82.6B | ||
| Q2 24 | $10.6B | — | ||
| Q1 24 | $10.9B | $81.8B |
| 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× | — | ||
| Q1 24 | 0.95× | — |
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 | $396.0M |
| Free Cash FlowOCF − Capex | — | $389.0M |
| FCF MarginFCF / Revenue | — | 43.8% |
| Capex IntensityCapex / Revenue | — | 0.8% |
| Cash ConversionOCF / Net Profit | 11.59× | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $595.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $396.0M | ||
| Q3 25 | $224.3M | $-200.0M | ||
| Q2 25 | $145.8M | $83.0M | ||
| Q1 25 | $249.0M | $349.0M | ||
| Q4 24 | $154.4M | $191.0M | ||
| Q3 24 | $274.5M | $389.0M | ||
| Q2 24 | $146.5M | — | ||
| Q1 24 | $263.9M | $838.0M |
| Q4 25 | — | $389.0M | ||
| Q3 25 | — | $-208.0M | ||
| Q2 25 | — | $74.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $174.0M | ||
| Q3 24 | — | $383.0M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $828.0M |
| Q4 25 | — | 43.8% | ||
| Q3 25 | — | -23.4% | ||
| Q2 25 | — | 8.9% | ||
| Q1 25 | — | 41.9% | ||
| Q4 24 | — | 23.9% | ||
| Q3 24 | — | 46.3% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 101.1% |
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.2% |
| Q4 25 | — | 1.52× | ||
| Q3 25 | 11.59× | -0.76× | ||
| Q2 25 | 11.52× | 0.34× | ||
| Q1 25 | — | 1.60× | ||
| Q4 24 | 1.52× | 1.15× | ||
| Q3 24 | 16.19× | 1.78× | ||
| Q2 24 | 1.86× | — | ||
| Q1 24 | 3.25× | 4.36× |
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% |
FHN
| Commercial Consumer And Wealth Segment | $776.0M | 87% |
| Other | $88.0M | 10% |
| Corporate | $24.0M | 3% |
