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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Nextpower Inc. (NXT). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $909.4M, roughly 1.7× Nextpower Inc.). Nextpower Inc. runs the higher net margin — 14.4% vs 1.2%, a 13.2% gap on every dollar of revenue. On growth, Nextpower Inc. posted the faster year-over-year revenue change (33.9% vs 10.0%). Over the past eight quarters, Nextpower Inc.'s revenue compounded faster (11.1% 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.
Nextpower Inc. (NXT) is a global energy technology provider based in Fremont, California.
DAR vs NXT — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $909.4M |
| Net Profit | $19.4M | $131.2M |
| Gross Margin | 24.7% | 31.7% |
| Operating Margin | 4.6% | 19.4% |
| Net Margin | 1.2% | 14.4% |
| Revenue YoY | 10.0% | 33.9% |
| Net Profit YoY | 14.2% | 13.8% |
| EPS (diluted) | $0.12 | $0.85 |
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 | — | $909.4M | ||
| Q3 25 | $1.6B | $905.3M | ||
| Q2 25 | $1.5B | $864.3M | ||
| Q1 25 | $1.4B | $924.3M | ||
| Q4 24 | $1.4B | $679.4M | ||
| Q3 24 | $1.4B | $635.6M | ||
| Q2 24 | $1.5B | $719.9M | ||
| Q1 24 | $1.4B | $736.5M |
| Q4 25 | — | $131.2M | ||
| Q3 25 | $19.4M | $146.9M | ||
| Q2 25 | $12.7M | $157.2M | ||
| Q1 25 | $-26.2M | $156.8M | ||
| Q4 24 | $101.9M | $115.3M | ||
| Q3 24 | $16.9M | $115.4M | ||
| Q2 24 | $78.9M | $121.7M | ||
| Q1 24 | $81.2M | $205.2M |
| Q4 25 | — | 31.7% | ||
| Q3 25 | 24.7% | 32.4% | ||
| Q2 25 | 23.3% | 32.6% | ||
| Q1 25 | 22.6% | 33.1% | ||
| Q4 24 | 23.5% | 35.5% | ||
| Q3 24 | 22.1% | 35.4% | ||
| Q2 24 | 22.5% | 33.0% | ||
| Q1 24 | 21.4% | 46.2% |
| Q4 25 | — | 19.4% | ||
| Q3 25 | 4.6% | 20.0% | ||
| Q2 25 | 5.1% | 21.5% | ||
| Q1 25 | 2.1% | 21.1% | ||
| Q4 24 | 8.6% | 22.1% | ||
| Q3 24 | 4.2% | 21.0% | ||
| Q2 24 | 10.2% | 22.2% | ||
| Q1 24 | 9.7% | 36.8% |
| Q4 25 | — | 14.4% | ||
| Q3 25 | 1.2% | 16.2% | ||
| Q2 25 | 0.9% | 18.2% | ||
| Q1 25 | -1.9% | 17.0% | ||
| Q4 24 | 7.2% | 17.0% | ||
| Q3 24 | 1.2% | 18.2% | ||
| Q2 24 | 5.4% | 16.9% | ||
| Q1 24 | 5.7% | 27.9% |
| Q4 25 | — | $0.85 | ||
| Q3 25 | $0.12 | $0.97 | ||
| Q2 25 | $0.08 | $1.04 | ||
| Q1 25 | $-0.16 | $1.05 | ||
| Q4 24 | $0.63 | $0.79 | ||
| Q3 24 | $0.11 | $0.79 | ||
| Q2 24 | $0.49 | $0.84 | ||
| Q1 24 | $0.50 | $1.52 |
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 | $952.6M |
| Total DebtLower is stronger | $4.0B | — |
| Stockholders' EquityBook value | $4.7B | $2.2B |
| Total Assets | $10.5B | $3.8B |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $952.6M | ||
| Q3 25 | $91.5M | $845.3M | ||
| Q2 25 | $94.6M | $743.4M | ||
| Q1 25 | $81.5M | $766.1M | ||
| Q4 24 | $76.0M | $693.5M | ||
| Q3 24 | $114.8M | $561.9M | ||
| Q2 24 | $121.6M | $471.9M | ||
| Q1 24 | $145.5M | $474.1M |
| 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 | — | $2.2B | ||
| Q3 25 | $4.7B | $2.0B | ||
| Q2 25 | $4.6B | $1.8B | ||
| Q1 25 | $4.4B | $1.6B | ||
| Q4 24 | $4.4B | $1.4B | ||
| Q3 24 | $4.6B | $1.3B | ||
| Q2 24 | $4.5B | $1.1B | ||
| Q1 24 | $4.6B | $961.0M |
| Q4 25 | — | $3.8B | ||
| Q3 25 | $10.5B | $3.7B | ||
| Q2 25 | $10.3B | $3.4B | ||
| Q1 25 | $10.0B | $3.2B | ||
| Q4 24 | $10.1B | $3.0B | ||
| Q3 24 | $10.6B | $2.8B | ||
| Q2 24 | $10.6B | $2.6B | ||
| Q1 24 | $10.9B | $2.5B |
| 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 | $123.3M |
| Free Cash FlowOCF − Capex | — | $118.5M |
| FCF MarginFCF / Revenue | — | 13.0% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | 11.59× | 0.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $587.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $123.3M | ||
| Q3 25 | $224.3M | $186.9M | ||
| Q2 25 | $145.8M | $81.3M | ||
| Q1 25 | $249.0M | $237.3M | ||
| Q4 24 | $154.4M | $143.8M | ||
| Q3 24 | $274.5M | $153.8M | ||
| Q2 24 | $146.5M | $120.8M | ||
| Q1 24 | $263.9M | $111.5M |
| Q4 25 | — | $118.5M | ||
| Q3 25 | — | $171.4M | ||
| Q2 25 | — | $70.1M | ||
| Q1 25 | — | $227.2M | ||
| Q4 24 | — | $134.9M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $118.0M | ||
| Q1 24 | — | $109.2M |
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 18.9% | ||
| Q2 25 | — | 8.1% | ||
| Q1 25 | — | 24.6% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 16.4% | ||
| Q1 24 | — | 14.8% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | — | 0.94× | ||
| Q3 25 | 11.59× | 1.27× | ||
| Q2 25 | 11.52× | 0.52× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | 1.52× | 1.25× | ||
| Q3 24 | 16.19× | 1.33× | ||
| Q2 24 | 1.86× | 0.99× | ||
| Q1 24 | 3.25× | 0.54× |
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% |
NXT
| Transferred Over Time | $763.9M | 84% |
| Transferred At Point In Time | $145.4M | 16% |
