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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and NEW JERSEY RESOURCES CORP (NJR). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $939.4M, roughly 1.7× NEW JERSEY RESOURCES CORP). NEW JERSEY RESOURCES CORP runs the higher net margin — 23.3% vs 1.2%, a 22.1% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs -33.0%). Over the past eight quarters, NEW JERSEY RESOURCES CORP's revenue compounded faster (111.6% 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.
New Jersey Resources is an energy services holding company based in Wall Township, New Jersey. It is a Fortune 1000 company, and a member of the Forbes Platinum 400. New Jersey Natural Gas is its principal subsidiary.
DAR vs NJR — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $939.4M |
| Net Profit | $19.4M | $218.9M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | 32.0% |
| Net Margin | 1.2% | 23.3% |
| Revenue YoY | 10.0% | -33.0% |
| Net Profit YoY | 14.2% | 7.2% |
| EPS (diluted) | $0.12 | $2.16 |
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.
| Q1 26 | — | $939.4M | ||
| Q4 25 | — | $440.9M | ||
| Q3 25 | $1.6B | $188.3M | ||
| Q2 25 | $1.5B | $234.8M | ||
| Q1 25 | $1.4B | $569.2M | ||
| Q4 24 | $1.4B | $359.0M | ||
| Q3 24 | $1.4B | $265.7M | ||
| Q2 24 | $1.5B | $209.9M |
| Q1 26 | — | $218.9M | ||
| Q4 25 | — | $122.5M | ||
| Q3 25 | $19.4M | $15.1M | ||
| Q2 25 | $12.7M | $-15.1M | ||
| Q1 25 | $-26.2M | $204.3M | ||
| Q4 24 | $101.9M | $131.3M | ||
| Q3 24 | $16.9M | $91.1M | ||
| Q2 24 | $78.9M | $-11.6M |
| Q1 26 | — | — | ||
| 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 26 | — | 32.0% | ||
| Q4 25 | — | 40.6% | ||
| Q3 25 | 4.6% | 21.5% | ||
| Q2 25 | 5.1% | -0.5% | ||
| Q1 25 | 2.1% | 49.2% | ||
| Q4 24 | 8.6% | 52.8% | ||
| Q3 24 | 4.2% | 55.0% | ||
| Q2 24 | 10.2% | 2.8% |
| Q1 26 | — | 23.3% | ||
| Q4 25 | — | 27.8% | ||
| Q3 25 | 1.2% | 8.0% | ||
| Q2 25 | 0.9% | -6.4% | ||
| Q1 25 | -1.9% | 35.9% | ||
| Q4 24 | 7.2% | 36.6% | ||
| Q3 24 | 1.2% | 34.3% | ||
| Q2 24 | 5.4% | -5.5% |
| Q1 26 | — | $2.16 | ||
| Q4 25 | — | $1.21 | ||
| Q3 25 | $0.12 | $0.15 | ||
| Q2 25 | $0.08 | $-0.15 | ||
| Q1 25 | $-0.16 | $2.02 | ||
| Q4 24 | $0.63 | $1.31 | ||
| Q3 24 | $0.11 | $0.91 | ||
| Q2 24 | $0.49 | $-0.12 |
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 | — |
| Total Assets | $10.5B | — |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $2.4M | ||
| Q3 25 | $91.5M | $591.0K | ||
| Q2 25 | $94.6M | $931.0K | ||
| Q1 25 | $81.5M | $83.7M | ||
| Q4 24 | $76.0M | $1.9M | ||
| Q3 24 | $114.8M | $1.0M | ||
| Q2 24 | $121.6M | $22.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | $4.0B | $3.3B | ||
| Q2 25 | $3.9B | $3.0B | ||
| Q1 25 | $3.8B | $3.0B | ||
| Q4 24 | $3.9B | $3.0B | ||
| Q3 24 | $4.1B | $2.9B | ||
| Q2 24 | $4.3B | $2.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | $4.7B | $2.4B | ||
| Q2 25 | $4.6B | $2.4B | ||
| Q1 25 | $4.4B | $2.5B | ||
| Q4 24 | $4.4B | $2.3B | ||
| Q3 24 | $4.6B | $2.2B | ||
| Q2 24 | $4.5B | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | $7.9B | ||
| Q3 25 | $10.5B | $7.6B | ||
| Q2 25 | $10.3B | $7.3B | ||
| Q1 25 | $10.0B | $7.3B | ||
| Q4 24 | $10.1B | $7.2B | ||
| Q3 24 | $10.6B | $7.0B | ||
| Q2 24 | $10.6B | $6.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.32× | ||
| Q3 25 | 0.86× | 1.36× | ||
| Q2 25 | 0.85× | 1.25× | ||
| Q1 25 | 0.86× | 1.20× | ||
| Q4 24 | 0.89× | 1.29× | ||
| Q3 24 | 0.91× | 1.31× | ||
| Q2 24 | 0.97× | 1.30× |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $26.7M | ||
| Q3 25 | $224.3M | $81.2M | ||
| Q2 25 | $145.8M | $-28.9M | ||
| Q1 25 | $249.0M | $423.0M | ||
| Q4 24 | $154.4M | $-9.0M | ||
| Q3 24 | $274.5M | $64.5M | ||
| Q2 24 | $146.5M | $24.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.22× | ||
| Q3 25 | 11.59× | 5.39× | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | 2.07× | ||
| Q4 24 | 1.52× | -0.07× | ||
| Q3 24 | 16.19× | 0.71× | ||
| Q2 24 | 1.86× | — |
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% |
NJR
| Utility | $640.9M | 68% |
| Nonutility | $298.5M | 32% |
