vs
Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and JBT Marel Corp (JBTM). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.0B, roughly 1.6× JBT Marel Corp). JBT Marel Corp runs the higher net margin — 5.3% vs 1.2%, a 4.0% gap on every dollar of revenue. On growth, JBT Marel Corp posted the faster year-over-year revenue change (115.6% vs 10.0%). Over the past eight quarters, JBT Marel Corp's revenue compounded faster (60.3% 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.
JBT Marel Corporation, formerly known as JBT Corporation, or John Bean Technologies Corporation, is a food processing machinery and automated vehicle company. The company was incorporated in 2008 when FMC Technologies divested its non-energy businesses. The company is based in Chicago, Illinois and traces its history back to a company founded in 1884 by John Bean, an orchardist in Los Gatos, California.
DAR vs JBTM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.0B |
| Net Profit | $19.4M | $53.1M |
| Gross Margin | 24.7% | 34.5% |
| Operating Margin | 4.6% | 7.2% |
| Net Margin | 1.2% | 5.3% |
| Revenue YoY | 10.0% | 115.6% |
| Net Profit YoY | 14.2% | 858.6% |
| EPS (diluted) | $0.12 | $1.04 |
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 | — | $1.0B | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.5B | $934.8M | ||
| Q1 25 | $1.4B | $854.1M | ||
| Q4 24 | $1.4B | $467.6M | ||
| Q3 24 | $1.4B | $453.8M | ||
| Q2 24 | $1.5B | $402.3M | ||
| Q1 24 | $1.4B | $392.3M |
| Q4 25 | — | $53.1M | ||
| Q3 25 | $19.4M | $66.0M | ||
| Q2 25 | $12.7M | $3.4M | ||
| Q1 25 | $-26.2M | $-173.0M | ||
| Q4 24 | $101.9M | $-7.0M | ||
| Q3 24 | $16.9M | $38.9M | ||
| Q2 24 | $78.9M | $30.7M | ||
| Q1 24 | $81.2M | $22.8M |
| Q4 25 | — | 34.5% | ||
| Q3 25 | 24.7% | 35.9% | ||
| Q2 25 | 23.3% | 35.8% | ||
| Q1 25 | 22.6% | 34.2% | ||
| Q4 24 | 23.5% | 38.4% | ||
| Q3 24 | 22.1% | 36.1% | ||
| Q2 24 | 22.5% | 35.6% | ||
| Q1 24 | 21.4% | 35.8% |
| Q4 25 | — | 7.2% | ||
| Q3 25 | 4.6% | 10.2% | ||
| Q2 25 | 5.1% | 5.2% | ||
| Q1 25 | 2.1% | -3.9% | ||
| Q4 24 | 8.6% | 3.4% | ||
| Q3 24 | 4.2% | 10.3% | ||
| Q2 24 | 10.2% | 6.7% | ||
| Q1 24 | 9.7% | 7.4% |
| Q4 25 | — | 5.3% | ||
| Q3 25 | 1.2% | 6.6% | ||
| Q2 25 | 0.9% | 0.4% | ||
| Q1 25 | -1.9% | -20.3% | ||
| Q4 24 | 7.2% | -1.5% | ||
| Q3 24 | 1.2% | 8.6% | ||
| Q2 24 | 5.4% | 7.6% | ||
| Q1 24 | 5.7% | 5.8% |
| Q4 25 | — | $1.04 | ||
| Q3 25 | $0.12 | $1.26 | ||
| Q2 25 | $0.08 | $0.07 | ||
| Q1 25 | $-0.16 | $-3.35 | ||
| Q4 24 | $0.63 | $-0.22 | ||
| Q3 24 | $0.11 | $1.21 | ||
| Q2 24 | $0.49 | $0.95 | ||
| Q1 24 | $0.50 | $0.71 |
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 | $167.9M |
| Total DebtLower is stronger | $4.0B | $1.5B |
| Stockholders' EquityBook value | $4.7B | $4.5B |
| Total Assets | $10.5B | $8.2B |
| Debt / EquityLower = less leverage | 0.86× | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $167.9M | ||
| Q3 25 | $91.5M | — | ||
| Q2 25 | $94.6M | — | ||
| Q1 25 | $81.5M | — | ||
| Q4 24 | $76.0M | $1.2B | ||
| Q3 24 | $114.8M | — | ||
| Q2 24 | $121.6M | — | ||
| Q1 24 | $145.5M | — |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $4.0B | $1.5B | ||
| Q2 25 | $3.9B | $1.5B | ||
| Q1 25 | $3.8B | $2.0B | ||
| Q4 24 | $3.9B | $1.3B | ||
| Q3 24 | $4.1B | $648.3M | ||
| Q2 24 | $4.3B | $647.7M | ||
| Q1 24 | $4.4B | $647.0M |
| Q4 25 | — | $4.5B | ||
| Q3 25 | $4.7B | $4.4B | ||
| Q2 25 | $4.6B | $4.4B | ||
| Q1 25 | $4.4B | $4.1B | ||
| Q4 24 | $4.4B | $1.5B | ||
| Q3 24 | $4.6B | $1.6B | ||
| Q2 24 | $4.5B | $1.5B | ||
| Q1 24 | $4.6B | $1.5B |
| Q4 25 | — | $8.2B | ||
| Q3 25 | $10.5B | $8.2B | ||
| Q2 25 | $10.3B | $8.3B | ||
| Q1 25 | $10.0B | $8.0B | ||
| Q4 24 | $10.1B | $3.4B | ||
| Q3 24 | $10.6B | $2.8B | ||
| Q2 24 | $10.6B | $2.7B | ||
| Q1 24 | $10.9B | $2.7B |
| Q4 25 | — | 0.33× | ||
| Q3 25 | 0.86× | 0.34× | ||
| Q2 25 | 0.85× | 0.35× | ||
| Q1 25 | 0.86× | 0.48× | ||
| Q4 24 | 0.89× | 0.81× | ||
| Q3 24 | 0.91× | 0.41× | ||
| Q2 24 | 0.97× | 0.43× | ||
| Q1 24 | 0.95× | 0.43× |
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 | $117.4M |
| Free Cash FlowOCF − Capex | — | $83.5M |
| FCF MarginFCF / Revenue | — | 8.3% |
| Capex IntensityCapex / Revenue | — | 3.4% |
| Cash ConversionOCF / Net Profit | 11.59× | 2.21× |
| TTM Free Cash FlowTrailing 4 quarters | — | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $117.4M | ||
| Q3 25 | $224.3M | $87.7M | ||
| Q2 25 | $145.8M | $102.2M | ||
| Q1 25 | $249.0M | $34.4M | ||
| Q4 24 | $154.4M | $128.7M | ||
| Q3 24 | $274.5M | $71.9M | ||
| Q2 24 | $146.5M | $21.6M | ||
| Q1 24 | $263.9M | $10.4M |
| Q4 25 | — | $83.5M | ||
| Q3 25 | — | $56.5M | ||
| Q2 25 | — | $83.7M | ||
| Q1 25 | — | $14.4M | ||
| Q4 24 | — | $118.7M | ||
| Q3 24 | — | $65.0M | ||
| Q2 24 | — | $11.1M | ||
| Q1 24 | — | $-100.0K |
| Q4 25 | — | 8.3% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 9.0% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 25.4% | ||
| Q3 24 | — | 14.3% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | -0.0% |
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | 2.21× | ||
| Q3 25 | 11.59× | 1.33× | ||
| Q2 25 | 11.52× | 30.06× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | 1.85× | ||
| Q2 24 | 1.86× | 0.70× | ||
| Q1 24 | 3.25× | 0.46× |
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% |
JBTM
Segment breakdown not available.
