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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and M/I HOMES, INC. (MHO). 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 1.4× M/I HOMES, INC.). M/I HOMES, INC. runs the higher net margin — 5.6% vs 1.2%, a 4.3% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs -4.8%). Over the past eight quarters, M/I HOMES, INC.'s revenue compounded faster (4.7% 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.
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
DAR vs MHO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.1B |
| Net Profit | $19.4M | $64.0M |
| Gross Margin | 24.7% | 17.4% |
| Operating Margin | 4.6% | 6.5% |
| Net Margin | 1.2% | 5.6% |
| Revenue YoY | 10.0% | -4.8% |
| Net Profit YoY | 14.2% | -52.1% |
| EPS (diluted) | $0.12 | $2.42 |
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 | — | $1.1B | ||
| Q3 25 | $1.6B | $1.1B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $976.1M | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.4B | $1.0B |
| Q4 25 | — | $64.0M | ||
| Q3 25 | $19.4M | $106.5M | ||
| Q2 25 | $12.7M | $121.2M | ||
| Q1 25 | $-26.2M | $111.2M | ||
| Q4 24 | $101.9M | $133.5M | ||
| Q3 24 | $16.9M | $145.4M | ||
| Q2 24 | $78.9M | $146.7M | ||
| Q1 24 | $81.2M | $138.1M |
| Q4 25 | — | 17.4% | ||
| Q3 25 | 24.7% | 24.5% | ||
| Q2 25 | 23.3% | 24.7% | ||
| Q1 25 | 22.6% | 25.9% | ||
| Q4 24 | 23.5% | 24.6% | ||
| Q3 24 | 22.1% | 27.1% | ||
| Q2 24 | 22.5% | 27.9% | ||
| Q1 24 | 21.4% | 27.1% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | 4.6% | 12.0% | ||
| Q2 25 | 5.1% | 13.4% | ||
| Q1 25 | 2.1% | 14.4% | ||
| Q4 24 | 8.6% | 13.6% | ||
| Q3 24 | 4.2% | 15.9% | ||
| Q2 24 | 10.2% | 16.8% | ||
| Q1 24 | 9.7% | 16.6% |
| Q4 25 | — | 5.6% | ||
| Q3 25 | 1.2% | 9.4% | ||
| Q2 25 | 0.9% | 10.4% | ||
| Q1 25 | -1.9% | 11.4% | ||
| Q4 24 | 7.2% | 11.1% | ||
| Q3 24 | 1.2% | 12.7% | ||
| Q2 24 | 5.4% | 13.2% | ||
| Q1 24 | 5.7% | 13.2% |
| Q4 25 | — | $2.42 | ||
| Q3 25 | $0.12 | $3.92 | ||
| Q2 25 | $0.08 | $4.42 | ||
| Q1 25 | $-0.16 | $3.98 | ||
| Q4 24 | $0.63 | $4.71 | ||
| Q3 24 | $0.11 | $5.10 | ||
| Q2 24 | $0.49 | $5.12 | ||
| Q1 24 | $0.50 | $4.78 |
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 | $3.2B |
| Total Assets | $10.5B | $4.8B |
| 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 | — | $3.2B | ||
| Q3 25 | $4.7B | $3.1B | ||
| Q2 25 | $4.6B | $3.1B | ||
| Q1 25 | $4.4B | $3.0B | ||
| Q4 24 | $4.4B | $2.9B | ||
| Q3 24 | $4.6B | $2.8B | ||
| Q2 24 | $4.5B | $2.7B | ||
| Q1 24 | $4.6B | $2.6B |
| Q4 25 | — | $4.8B | ||
| Q3 25 | $10.5B | $4.8B | ||
| Q2 25 | $10.3B | $4.7B | ||
| Q1 25 | $10.0B | $4.6B | ||
| Q4 24 | $10.1B | $4.5B | ||
| Q3 24 | $10.6B | $4.5B | ||
| Q2 24 | $10.6B | $4.3B | ||
| Q1 24 | $10.9B | $4.2B |
| 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 | $-8.7M |
| Free Cash FlowOCF − Capex | — | $-13.0M |
| FCF MarginFCF / Revenue | — | -1.1% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | 11.59× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | — | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.7M | ||
| Q3 25 | $224.3M | $43.4M | ||
| Q2 25 | $145.8M | $37.8M | ||
| Q1 25 | $249.0M | $64.9M | ||
| Q4 24 | $154.4M | $104.4M | ||
| Q3 24 | $274.5M | $-67.9M | ||
| Q2 24 | $146.5M | $27.5M | ||
| Q1 24 | $263.9M | $115.8M |
| Q4 25 | — | $-13.0M | ||
| Q3 25 | — | $42.0M | ||
| Q2 25 | — | $35.1M | ||
| Q1 25 | — | $63.5M | ||
| Q4 24 | — | $102.3M | ||
| Q3 24 | — | $-68.5M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $115.5M |
| Q4 25 | — | -1.1% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | — | -6.0% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 11.0% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | -0.14× | ||
| Q3 25 | 11.59× | 0.41× | ||
| Q2 25 | 11.52× | 0.31× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | 1.52× | 0.78× | ||
| Q3 24 | 16.19× | -0.47× | ||
| Q2 24 | 1.86× | 0.19× | ||
| Q1 24 | 3.25× | 0.84× |
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% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
