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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and NCR Atleos Corp (NATL). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.2B, roughly 1.4× NCR Atleos Corp). NCR Atleos Corp runs the higher net margin — 7.2% vs 1.2%, a 6.0% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 4.0%). Over the past eight quarters, NCR Atleos Corp's revenue compounded faster (4.9% 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.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
DAR vs NATL — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.2B |
| Net Profit | $19.4M | $83.0M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | 13.5% |
| Net Margin | 1.2% | 7.2% |
| Revenue YoY | 10.0% | 4.0% |
| Net Profit YoY | 14.2% | 102.4% |
| EPS (diluted) | $0.12 | $1.09 |
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 | — | $1.2B | ||
| Q3 25 | $1.6B | $1.1B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $979.0M | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.4B | $1.0B |
| Q4 25 | — | $83.0M | ||
| Q3 25 | $19.4M | $26.0M | ||
| Q2 25 | $12.7M | $39.0M | ||
| Q1 25 | $-26.2M | $14.0M | ||
| Q4 24 | $101.9M | $41.0M | ||
| Q3 24 | $16.9M | $21.0M | ||
| Q2 24 | $78.9M | $27.0M | ||
| Q1 24 | $81.2M | $-9.0M |
| 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 | — | 13.5% | ||
| Q3 25 | 4.6% | 9.8% | ||
| Q2 25 | 5.1% | 10.8% | ||
| Q1 25 | 2.1% | 9.5% | ||
| Q4 24 | 8.6% | 13.4% | ||
| Q3 24 | 4.2% | 10.6% | ||
| Q2 24 | 10.2% | 9.8% | ||
| Q1 24 | 9.7% | 6.5% |
| Q4 25 | — | 7.2% | ||
| Q3 25 | 1.2% | 2.3% | ||
| Q2 25 | 0.9% | 3.5% | ||
| Q1 25 | -1.9% | 1.4% | ||
| Q4 24 | 7.2% | 3.7% | ||
| Q3 24 | 1.2% | 2.0% | ||
| Q2 24 | 5.4% | 2.5% | ||
| Q1 24 | 5.7% | -0.9% |
| Q4 25 | — | $1.09 | ||
| Q3 25 | $0.12 | $0.34 | ||
| Q2 25 | $0.08 | $0.52 | ||
| Q1 25 | $-0.16 | $0.19 | ||
| Q4 24 | $0.63 | $0.56 | ||
| Q3 24 | $0.11 | $0.28 | ||
| Q2 24 | $0.49 | $0.37 | ||
| Q1 24 | $0.50 | $-0.13 |
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 | $456.0M |
| Total DebtLower is stronger | $4.0B | $2.7B |
| Stockholders' EquityBook value | $4.7B | $403.0M |
| Total Assets | $10.5B | $5.7B |
| Debt / EquityLower = less leverage | 0.86× | 6.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $456.0M | ||
| Q3 25 | $91.5M | $412.0M | ||
| Q2 25 | $94.6M | $357.0M | ||
| Q1 25 | $81.5M | $352.0M | ||
| Q4 24 | $76.0M | $419.0M | ||
| Q3 24 | $114.8M | $395.0M | ||
| Q2 24 | $121.6M | $374.0M | ||
| Q1 24 | $145.5M | $343.0M |
| Q4 25 | — | $2.7B | ||
| Q3 25 | $4.0B | $2.8B | ||
| Q2 25 | $3.9B | $2.8B | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | $2.9B | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
| Q4 25 | — | $403.0M | ||
| Q3 25 | $4.7B | $330.0M | ||
| Q2 25 | $4.6B | $350.0M | ||
| Q1 25 | $4.4B | $275.0M | ||
| Q4 24 | $4.4B | $219.0M | ||
| Q3 24 | $4.6B | $264.0M | ||
| Q2 24 | $4.5B | $250.0M | ||
| Q1 24 | $4.6B | $283.0M |
| Q4 25 | — | $5.7B | ||
| Q3 25 | $10.5B | $5.7B | ||
| Q2 25 | $10.3B | $5.8B | ||
| Q1 25 | $10.0B | $5.7B | ||
| Q4 24 | $10.1B | $5.5B | ||
| Q3 24 | $10.6B | $5.7B | ||
| Q2 24 | $10.6B | $5.8B | ||
| Q1 24 | $10.9B | $5.8B |
| Q4 25 | — | 6.63× | ||
| Q3 25 | 0.86× | 8.45× | ||
| Q2 25 | 0.85× | 8.05× | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | 13.05× | ||
| 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 | $231.0M |
| Free Cash FlowOCF − Capex | — | $194.0M |
| FCF MarginFCF / Revenue | — | 16.8% |
| Capex IntensityCapex / Revenue | — | 3.2% |
| Cash ConversionOCF / Net Profit | 11.59× | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | — | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $231.0M | ||
| Q3 25 | $224.3M | $25.0M | ||
| Q2 25 | $145.8M | $-23.0M | ||
| Q1 25 | $249.0M | $123.0M | ||
| Q4 24 | $154.4M | $80.0M | ||
| Q3 24 | $274.5M | $107.0M | ||
| Q2 24 | $146.5M | $9.0M | ||
| Q1 24 | $263.9M | $148.0M |
| Q4 25 | — | $194.0M | ||
| Q3 25 | — | $-5.0M | ||
| Q2 25 | — | $-44.0M | ||
| Q1 25 | — | $94.0M | ||
| Q4 24 | — | $62.0M | ||
| Q3 24 | — | $85.0M | ||
| Q2 24 | — | $-14.0M | ||
| Q1 24 | — | $124.0M |
| Q4 25 | — | 16.8% | ||
| Q3 25 | — | -0.4% | ||
| Q2 25 | — | -4.0% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | — | -1.3% | ||
| Q1 24 | — | 11.9% |
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 2.3% |
| Q4 25 | — | 2.78× | ||
| Q3 25 | 11.59× | 0.96× | ||
| Q2 25 | 11.52× | -0.59× | ||
| Q1 25 | — | 8.79× | ||
| Q4 24 | 1.52× | 1.95× | ||
| Q3 24 | 16.19× | 5.10× | ||
| Q2 24 | 1.86× | 0.33× | ||
| Q1 24 | 3.25× | — |
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% |
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
