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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and LCI INDUSTRIES (LCII). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $932.7M, roughly 1.7× LCI INDUSTRIES). LCI INDUSTRIES runs the higher net margin — 2.0% vs 1.2%, a 0.8% gap on every dollar of revenue. On growth, LCI INDUSTRIES posted the faster year-over-year revenue change (16.1% vs 10.0%). Over the past eight quarters, DARLING INGREDIENTS INC.'s revenue compounded faster (-1.6% CAGR vs -1.8%).
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.
Lucky Core Industries Limited, formerly known as ICI Pakistan, is a Pakistani conglomerate company headquartered in Karachi. It manufactures polyester, pharmaceutical, agrochemical, soda ash, and veterinary medicine.
DAR vs LCII — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $932.7M |
| Net Profit | $19.4M | $18.7M |
| Gross Margin | 24.7% | 22.1% |
| Operating Margin | 4.6% | 3.8% |
| Net Margin | 1.2% | 2.0% |
| Revenue YoY | 10.0% | 16.1% |
| Net Profit YoY | 14.2% | 95.7% |
| EPS (diluted) | $0.12 | $0.79 |
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 | — | $932.7M | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.4B | $803.1M | ||
| Q3 24 | $1.4B | $915.5M | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.4B | $968.0M |
| Q4 25 | — | $18.7M | ||
| Q3 25 | $19.4M | $62.5M | ||
| Q2 25 | $12.7M | $57.6M | ||
| Q1 25 | $-26.2M | $49.4M | ||
| Q4 24 | $101.9M | $9.5M | ||
| Q3 24 | $16.9M | $35.6M | ||
| Q2 24 | $78.9M | $61.2M | ||
| Q1 24 | $81.2M | $36.5M |
| Q4 25 | — | 22.1% | ||
| Q3 25 | 24.7% | 24.4% | ||
| Q2 25 | 23.3% | 24.4% | ||
| Q1 25 | 22.6% | 24.1% | ||
| Q4 24 | 23.5% | 21.1% | ||
| Q3 24 | 22.1% | 24.0% | ||
| Q2 24 | 22.5% | 25.3% | ||
| Q1 24 | 21.4% | 23.1% |
| Q4 25 | — | 3.8% | ||
| Q3 25 | 4.6% | 7.3% | ||
| Q2 25 | 5.1% | 7.9% | ||
| Q1 25 | 2.1% | 7.8% | ||
| Q4 24 | 8.6% | 2.0% | ||
| Q3 24 | 4.2% | 5.9% | ||
| Q2 24 | 10.2% | 8.6% | ||
| Q1 24 | 9.7% | 6.0% |
| Q4 25 | — | 2.0% | ||
| Q3 25 | 1.2% | 6.0% | ||
| Q2 25 | 0.9% | 5.2% | ||
| Q1 25 | -1.9% | 4.7% | ||
| Q4 24 | 7.2% | 1.2% | ||
| Q3 24 | 1.2% | 3.9% | ||
| Q2 24 | 5.4% | 5.8% | ||
| Q1 24 | 5.7% | 3.8% |
| Q4 25 | — | $0.79 | ||
| Q3 25 | $0.12 | $2.55 | ||
| Q2 25 | $0.08 | $2.29 | ||
| Q1 25 | $-0.16 | $1.94 | ||
| Q4 24 | $0.63 | $0.37 | ||
| Q3 24 | $0.11 | $1.39 | ||
| Q2 24 | $0.49 | $2.40 | ||
| Q1 24 | $0.50 | $1.44 |
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 | $222.6M |
| Total DebtLower is stronger | $4.0B | $945.2M |
| Stockholders' EquityBook value | $4.7B | $1.4B |
| Total Assets | $10.5B | $3.2B |
| Debt / EquityLower = less leverage | 0.86× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $222.6M | ||
| Q3 25 | $91.5M | $199.7M | ||
| Q2 25 | $94.6M | $191.9M | ||
| Q1 25 | $81.5M | $231.2M | ||
| Q4 24 | $76.0M | $165.8M | ||
| Q3 24 | $114.8M | $161.2M | ||
| Q2 24 | $121.6M | $130.4M | ||
| Q1 24 | $145.5M | $22.6M |
| Q4 25 | — | $945.2M | ||
| Q3 25 | $4.0B | $947.8M | ||
| Q2 25 | $3.9B | $948.0M | ||
| Q1 25 | $3.8B | $938.3M | ||
| Q4 24 | $3.9B | $757.3M | ||
| Q3 24 | $4.1B | $822.5M | ||
| Q2 24 | $4.3B | $829.7M | ||
| Q1 24 | $4.4B | $855.3M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $4.7B | $1.4B | ||
| Q2 25 | $4.6B | $1.4B | ||
| Q1 25 | $4.4B | $1.4B | ||
| Q4 24 | $4.4B | $1.4B | ||
| Q3 24 | $4.6B | $1.4B | ||
| Q2 24 | $4.5B | $1.4B | ||
| Q1 24 | $4.6B | $1.4B |
| Q4 25 | — | $3.2B | ||
| Q3 25 | $10.5B | $3.2B | ||
| Q2 25 | $10.3B | $3.2B | ||
| Q1 25 | $10.0B | $3.1B | ||
| Q4 24 | $10.1B | $2.9B | ||
| Q3 24 | $10.6B | $3.0B | ||
| Q2 24 | $10.6B | $3.0B | ||
| Q1 24 | $10.9B | $3.0B |
| Q4 25 | — | 0.69× | ||
| Q3 25 | 0.86× | 0.70× | ||
| Q2 25 | 0.85× | 0.68× | ||
| Q1 25 | 0.86× | 0.69× | ||
| Q4 24 | 0.89× | 0.55× | ||
| Q3 24 | 0.91× | 0.58× | ||
| Q2 24 | 0.97× | 0.60× | ||
| Q1 24 | 0.95× | 0.63× |
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 | $78.9M |
| Free Cash FlowOCF − Capex | — | $64.3M |
| FCF MarginFCF / Revenue | — | 6.9% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 11.59× | 4.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $278.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $78.9M | ||
| Q3 25 | $224.3M | $97.2M | ||
| Q2 25 | $145.8M | $112.2M | ||
| Q1 25 | $249.0M | $42.7M | ||
| Q4 24 | $154.4M | $106.6M | ||
| Q3 24 | $274.5M | $78.4M | ||
| Q2 24 | $146.5M | $192.9M | ||
| Q1 24 | $263.9M | $-7.7M |
| Q4 25 | — | $64.3M | ||
| Q3 25 | — | $80.9M | ||
| Q2 25 | — | $99.5M | ||
| Q1 25 | — | $33.7M | ||
| Q4 24 | — | $95.7M | ||
| Q3 24 | — | $68.3M | ||
| Q2 24 | — | $180.2M | ||
| Q1 24 | — | $-16.3M |
| Q4 25 | — | 6.9% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 9.0% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 11.9% | ||
| Q3 24 | — | 7.5% | ||
| Q2 24 | — | 17.1% | ||
| Q1 24 | — | -1.7% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | — | 4.22× | ||
| Q3 25 | 11.59× | 1.55× | ||
| Q2 25 | 11.52× | 1.95× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | 1.52× | 11.17× | ||
| Q3 24 | 16.19× | 2.20× | ||
| Q2 24 | 1.86× | 3.15× | ||
| Q1 24 | 3.25× | -0.21× |
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% |
LCII
| Travel Trailer And Fifth Wheels | $378.4M | 41% |
| Chassis Chassis Partsand Slideout Mechanisms | $206.1M | 22% |
| Furnitureand Mattresses | $120.4M | 13% |
| Appliances | $69.9M | 7% |
| Other Products | $69.1M | 7% |
| Axlesand Suspension Solutions | $62.3M | 7% |
| Motorhomes | $34.2M | 4% |
