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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Fortive (FTV). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.1B, roughly 1.5× Fortive). Fortive runs the higher net margin — 12.8% vs 1.2%, a 11.5% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 7.7%). Over the past eight quarters, DARLING INGREDIENTS INC.'s revenue compounded faster (-1.6% CAGR vs -17.0%).
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.
Fortive Corporation is an American industrial technology conglomerate company headquartered in Everett, Washington. The company specializes in providing essential technologies for connected workflow solutions; designing, developing, manufacturing and distributing professional and engineered products, software and services. Their products and services are split into three strategic segments; Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. As of Decem...
DAR vs FTV — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.1B |
| Net Profit | $19.4M | $136.4M |
| Gross Margin | 24.7% | 63.2% |
| Operating Margin | 4.6% | 17.9% |
| Net Margin | 1.2% | 12.8% |
| Revenue YoY | 10.0% | 7.7% |
| Net Profit YoY | 14.2% | 21.1% |
| EPS (diluted) | $0.12 | $0.44 |
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 | — | $1.1B | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.5B | $1.6B |
| Q1 26 | — | $136.4M | ||
| Q4 25 | — | $185.7M | ||
| Q3 25 | $19.4M | $55.0M | ||
| Q2 25 | $12.7M | $166.6M | ||
| Q1 25 | $-26.2M | $171.9M | ||
| Q4 24 | $101.9M | $208.8M | ||
| Q3 24 | $16.9M | $221.6M | ||
| Q2 24 | $78.9M | $195.1M |
| Q1 26 | — | 63.2% | ||
| Q4 25 | — | 63.2% | ||
| Q3 25 | 24.7% | 63.2% | ||
| Q2 25 | 23.3% | 59.0% | ||
| Q1 25 | 22.6% | 59.8% | ||
| Q4 24 | 23.5% | 60.3% | ||
| Q3 24 | 22.1% | 60.0% | ||
| Q2 24 | 22.5% | 59.8% |
| Q1 26 | — | 17.9% | ||
| Q4 25 | — | 20.1% | ||
| Q3 25 | 4.6% | 15.5% | ||
| Q2 25 | 5.1% | 14.6% | ||
| Q1 25 | 2.1% | 15.8% | ||
| Q4 24 | 8.6% | 19.0% | ||
| Q3 24 | 4.2% | 19.3% | ||
| Q2 24 | 10.2% | 19.4% |
| Q1 26 | — | 12.8% | ||
| Q4 25 | — | 16.5% | ||
| Q3 25 | 1.2% | 5.4% | ||
| Q2 25 | 0.9% | 11.0% | ||
| Q1 25 | -1.9% | 11.7% | ||
| Q4 24 | 7.2% | 12.9% | ||
| Q3 24 | 1.2% | 14.4% | ||
| Q2 24 | 5.4% | 12.6% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | — | $0.60 | ||
| Q3 25 | $0.12 | $0.16 | ||
| Q2 25 | $0.08 | $0.49 | ||
| Q1 25 | $-0.16 | $0.50 | ||
| Q4 24 | $0.63 | $0.60 | ||
| Q3 24 | $0.11 | $0.63 | ||
| Q2 24 | $0.49 | $0.55 |
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 | $356.1M |
| Total DebtLower is stronger | $4.0B | $3.5B |
| Stockholders' EquityBook value | $4.7B | $6.1B |
| Total Assets | $10.5B | $11.6B |
| Debt / EquityLower = less leverage | 0.86× | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $356.1M | ||
| Q4 25 | — | $375.5M | ||
| Q3 25 | $91.5M | $430.8M | ||
| Q2 25 | $94.6M | $1.8B | ||
| Q1 25 | $81.5M | $892.1M | ||
| Q4 24 | $76.0M | $813.3M | ||
| Q3 24 | $114.8M | $811.3M | ||
| Q2 24 | $121.6M | $644.1M |
| Q1 26 | — | $3.5B | ||
| Q4 25 | — | $3.2B | ||
| Q3 25 | $4.0B | $3.3B | ||
| Q2 25 | $3.9B | $4.8B | ||
| Q1 25 | $3.8B | $3.9B | ||
| Q4 24 | $3.9B | $3.7B | ||
| Q3 24 | $4.1B | $3.9B | ||
| Q2 24 | $4.3B | $3.8B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | — | $6.5B | ||
| Q3 25 | $4.7B | $6.5B | ||
| Q2 25 | $4.6B | $10.4B | ||
| Q1 25 | $4.4B | $10.2B | ||
| Q4 24 | $4.4B | $10.2B | ||
| Q3 24 | $4.6B | $10.6B | ||
| Q2 24 | $4.5B | $10.5B |
| Q1 26 | — | $11.6B | ||
| Q4 25 | — | $11.7B | ||
| Q3 25 | $10.5B | $11.9B | ||
| Q2 25 | $10.3B | $18.2B | ||
| Q1 25 | $10.0B | $17.1B | ||
| Q4 24 | $10.1B | $17.0B | ||
| Q3 24 | $10.6B | $17.5B | ||
| Q2 24 | $10.6B | $17.3B |
| Q1 26 | — | 0.57× | ||
| Q4 25 | — | 0.50× | ||
| Q3 25 | 0.86× | 0.51× | ||
| Q2 25 | 0.85× | 0.46× | ||
| Q1 25 | 0.86× | 0.38× | ||
| Q4 24 | 0.89× | 0.36× | ||
| Q3 24 | 0.91× | 0.37× | ||
| Q2 24 | 0.97× | 0.36× |
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 | $234.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 2.5% |
| Cash ConversionOCF / Net Profit | 11.59× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $234.8M | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $224.3M | $164.4M | ||
| Q2 25 | $145.8M | $311.2M | ||
| Q1 25 | $249.0M | $241.7M | ||
| Q4 24 | $154.4M | $502.2M | ||
| Q3 24 | $274.5M | $459.0M | ||
| Q2 24 | $146.5M | $308.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $313.8M | ||
| Q3 25 | — | $153.1M | ||
| Q2 25 | — | $274.5M | ||
| Q1 25 | — | $215.0M | ||
| Q4 24 | — | $465.2M | ||
| Q3 24 | — | $431.2M | ||
| Q2 24 | — | $279.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | — | 18.1% | ||
| Q1 25 | — | 14.6% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 28.1% | ||
| Q2 24 | — | 18.0% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 1.9% |
| Q1 26 | — | 1.72× | ||
| Q4 25 | — | 5.83× | ||
| Q3 25 | 11.59× | 2.99× | ||
| Q2 25 | 11.52× | 1.87× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | 1.52× | 2.41× | ||
| Q3 24 | 16.19× | 2.07× | ||
| Q2 24 | 1.86× | 1.58× |
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% |
FTV
Segment breakdown not available.
