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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and KeyCorp (KEY). Click either name above to swap in a different company.
KeyCorp is the larger business by last-quarter revenue ($2.0B vs $1.6B, roughly 1.3× DARLING INGREDIENTS INC.). KeyCorp runs the higher net margin — 25.4% vs 1.2%, a 24.2% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 10.0%). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% 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.
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
DAR vs KEY — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.0B |
| Net Profit | $19.4M | $510.0M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | 32.3% |
| Net Margin | 1.2% | 25.4% |
| Revenue YoY | 10.0% | 131.8% |
| Net Profit YoY | 14.2% | 309.0% |
| EPS (diluted) | $0.12 | $0.43 |
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 | — | $2.0B | ||
| Q3 25 | $1.6B | $1.9B | ||
| Q2 25 | $1.5B | $1.8B | ||
| Q1 25 | $1.4B | $1.8B | ||
| Q4 24 | $1.4B | $865.0M | ||
| Q3 24 | $1.4B | $695.0M | ||
| Q2 24 | $1.5B | $1.5B | ||
| Q1 24 | $1.4B | $1.5B |
| Q4 25 | — | $510.0M | ||
| Q3 25 | $19.4M | $489.0M | ||
| Q2 25 | $12.7M | $425.0M | ||
| Q1 25 | $-26.2M | $405.0M | ||
| Q4 24 | $101.9M | $-244.0M | ||
| Q3 24 | $16.9M | $-410.0M | ||
| Q2 24 | $78.9M | $274.0M | ||
| Q1 24 | $81.2M | $219.0M |
| 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 | — | 32.3% | ||
| Q3 25 | 4.6% | 31.8% | ||
| Q2 25 | 5.1% | 29.3% | ||
| Q1 25 | 2.1% | 29.0% | ||
| Q4 24 | 8.6% | -92.6% | ||
| Q3 24 | 4.2% | -72.8% | ||
| Q2 24 | 10.2% | 22.0% | ||
| Q1 24 | 9.7% | 18.1% |
| Q4 25 | — | 25.4% | ||
| Q3 25 | 1.2% | 25.8% | ||
| Q2 25 | 0.9% | 23.1% | ||
| Q1 25 | -1.9% | 22.8% | ||
| Q4 24 | 7.2% | -54.7% | ||
| Q3 24 | 1.2% | -59.0% | ||
| Q2 24 | 5.4% | 18.0% | ||
| Q1 24 | 5.7% | 14.3% |
| Q4 25 | — | $0.43 | ||
| Q3 25 | $0.12 | $0.41 | ||
| Q2 25 | $0.08 | $0.35 | ||
| Q1 25 | $-0.16 | $0.33 | ||
| Q4 24 | $0.63 | $-0.30 | ||
| Q3 24 | $0.11 | $-0.47 | ||
| Q2 24 | $0.49 | $0.25 | ||
| Q1 24 | $0.50 | $0.20 |
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 | $10.2B |
| Total DebtLower is stronger | $4.0B | $9.9B |
| Stockholders' EquityBook value | $4.7B | $20.4B |
| Total Assets | $10.5B | $184.4B |
| Debt / EquityLower = less leverage | 0.86× | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $10.2B | ||
| Q3 25 | $91.5M | $13.3B | ||
| Q2 25 | $94.6M | $11.6B | ||
| Q1 25 | $81.5M | $15.3B | ||
| Q4 24 | $76.0M | $17.5B | ||
| Q3 24 | $114.8M | $22.8B | ||
| Q2 24 | $121.6M | $15.5B | ||
| Q1 24 | $145.5M | $13.2B |
| Q4 25 | — | $9.9B | ||
| Q3 25 | $4.0B | $10.9B | ||
| Q2 25 | $3.9B | $12.1B | ||
| Q1 25 | $3.8B | $12.4B | ||
| Q4 24 | $3.9B | $12.1B | ||
| Q3 24 | $4.1B | $15.7B | ||
| Q2 24 | $4.3B | $16.9B | ||
| Q1 24 | $4.4B | $20.8B |
| Q4 25 | — | $20.4B | ||
| Q3 25 | $4.7B | $20.1B | ||
| Q2 25 | $4.6B | $19.5B | ||
| Q1 25 | $4.4B | $19.0B | ||
| Q4 24 | $4.4B | $18.2B | ||
| Q3 24 | $4.6B | $16.9B | ||
| Q2 24 | $4.5B | $14.8B | ||
| Q1 24 | $4.6B | $14.5B |
| Q4 25 | — | $184.4B | ||
| Q3 25 | $10.5B | $187.4B | ||
| Q2 25 | $10.3B | $185.5B | ||
| Q1 25 | $10.0B | $188.7B | ||
| Q4 24 | $10.1B | $187.2B | ||
| Q3 24 | $10.6B | $189.8B | ||
| Q2 24 | $10.6B | $187.4B | ||
| Q1 24 | $10.9B | $187.5B |
| Q4 25 | — | 0.49× | ||
| Q3 25 | 0.86× | 0.54× | ||
| Q2 25 | 0.85× | 0.62× | ||
| Q1 25 | 0.86× | 0.65× | ||
| Q4 24 | 0.89× | 0.67× | ||
| Q3 24 | 0.91× | 0.93× | ||
| Q2 24 | 0.97× | 1.14× | ||
| Q1 24 | 0.95× | 1.43× |
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 | $2.2B |
| Free Cash FlowOCF − Capex | — | $2.1B |
| FCF MarginFCF / Revenue | — | 104.8% |
| Capex IntensityCapex / Revenue | — | 5.3% |
| Cash ConversionOCF / Net Profit | 11.59× | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | — | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.2B | ||
| Q3 25 | $224.3M | $396.0M | ||
| Q2 25 | $145.8M | $1.2B | ||
| Q1 25 | $249.0M | $-140.0M | ||
| Q4 24 | $154.4M | $664.0M | ||
| Q3 24 | $274.5M | $-1.2B | ||
| Q2 24 | $146.5M | $-217.0M | ||
| Q1 24 | $263.9M | $359.0M |
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $367.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $-150.0M | ||
| Q4 24 | — | $599.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-230.0M | ||
| Q1 24 | — | $347.0M |
| Q4 25 | — | 104.8% | ||
| Q3 25 | — | 19.4% | ||
| Q2 25 | — | 65.8% | ||
| Q1 25 | — | -8.5% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | — | -175.8% | ||
| Q2 24 | — | -15.1% | ||
| Q1 24 | — | 22.6% |
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | — | 4.33× | ||
| Q3 25 | 11.59× | 0.81× | ||
| Q2 25 | 11.52× | 2.90× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | — | ||
| Q2 24 | 1.86× | -0.79× | ||
| Q1 24 | 3.25× | 1.64× |
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% |
KEY
Segment breakdown not available.
