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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and ON Semiconductor (ON). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.6B, roughly 1.0× ON Semiconductor). ON Semiconductor runs the higher net margin — 16.4% vs 1.2%, a 15.2% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs -10.0%). Over the past eight quarters, DARLING INGREDIENTS INC.'s revenue compounded faster (-1.6% CAGR vs -12.3%).
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.
Fairchild Semiconductor International, Inc. was an American semiconductor company based in San Jose, California. It was founded in 1957 as a division of Fairchild Camera and Instrument by the "traitorous eight" who defected from Shockley Semiconductor Laboratory. It became a pioneer in the manufacturing of transistors and of integrated circuits. Schlumberger bought the firm in 1979 and sold it to National Semiconductor in 1987; Fairchild was spun off as an independent company again in 1997. I...
DAR vs ON — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.6B |
| Net Profit | $19.4M | $255.0M |
| Gross Margin | 24.7% | 37.9% |
| Operating Margin | 4.6% | 17.0% |
| Net Margin | 1.2% | 16.4% |
| Revenue YoY | 10.0% | -10.0% |
| Net Profit YoY | 14.2% | -32.9% |
| EPS (diluted) | $0.12 | $0.63 |
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 | — | $1.6B | ||
| Q3 25 | $1.6B | $1.5B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.5B | $1.7B | ||
| Q1 24 | $1.4B | $1.9B |
| Q4 25 | — | $255.0M | ||
| Q3 25 | $19.4M | $170.3M | ||
| Q2 25 | $12.7M | $-486.1M | ||
| Q1 25 | $-26.2M | — | ||
| Q4 24 | $101.9M | $379.9M | ||
| Q3 24 | $16.9M | $401.7M | ||
| Q2 24 | $78.9M | $338.2M | ||
| Q1 24 | $81.2M | $453.0M |
| Q4 25 | — | 37.9% | ||
| Q3 25 | 24.7% | 37.6% | ||
| Q2 25 | 23.3% | 20.3% | ||
| Q1 25 | 22.6% | — | ||
| Q4 24 | 23.5% | 45.2% | ||
| Q3 24 | 22.1% | 45.4% | ||
| Q2 24 | 22.5% | 45.2% | ||
| Q1 24 | 21.4% | 45.8% |
| Q4 25 | — | 17.0% | ||
| Q3 25 | 4.6% | 13.2% | ||
| Q2 25 | 5.1% | -39.7% | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 8.6% | 23.7% | ||
| Q3 24 | 4.2% | 25.3% | ||
| Q2 24 | 10.2% | 22.4% | ||
| Q1 24 | 9.7% | 28.2% |
| Q4 25 | — | 16.4% | ||
| Q3 25 | 1.2% | 11.6% | ||
| Q2 25 | 0.9% | -33.6% | ||
| Q1 25 | -1.9% | — | ||
| Q4 24 | 7.2% | 22.1% | ||
| Q3 24 | 1.2% | 22.8% | ||
| Q2 24 | 5.4% | 19.5% | ||
| Q1 24 | 5.7% | 24.3% |
| Q4 25 | — | $0.63 | ||
| Q3 25 | $0.12 | $0.41 | ||
| Q2 25 | $0.08 | $-1.15 | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $0.63 | $0.88 | ||
| Q3 24 | $0.11 | $0.93 | ||
| Q2 24 | $0.49 | $0.78 | ||
| Q1 24 | $0.50 | $1.04 |
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 | $2.9B |
| Total DebtLower is stronger | $4.0B | $3.4B |
| Stockholders' EquityBook value | $4.7B | $7.9B |
| Total Assets | $10.5B | $13.0B |
| Debt / EquityLower = less leverage | 0.86× | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.9B | ||
| Q3 25 | $91.5M | $2.8B | ||
| Q2 25 | $94.6M | $3.0B | ||
| Q1 25 | $81.5M | — | ||
| Q4 24 | $76.0M | $3.0B | ||
| Q3 24 | $114.8M | $2.8B | ||
| Q2 24 | $121.6M | $2.7B | ||
| Q1 24 | $145.5M | $2.6B |
| Q4 25 | — | $3.4B | ||
| Q3 25 | $4.0B | $3.4B | ||
| Q2 25 | $3.9B | $3.4B | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | $3.4B | ||
| Q3 24 | $4.1B | $3.4B | ||
| Q2 24 | $4.3B | $3.4B | ||
| Q1 24 | $4.4B | $3.4B |
| Q4 25 | — | $7.9B | ||
| Q3 25 | $4.7B | $7.9B | ||
| Q2 25 | $4.6B | $8.0B | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.4B | $8.8B | ||
| Q3 24 | $4.6B | $8.6B | ||
| Q2 24 | $4.5B | $8.3B | ||
| Q1 24 | $4.6B | $8.1B |
| Q4 25 | — | $13.0B | ||
| Q3 25 | $10.5B | $13.1B | ||
| Q2 25 | $10.3B | $13.3B | ||
| Q1 25 | $10.0B | — | ||
| Q4 24 | $10.1B | $14.1B | ||
| Q3 24 | $10.6B | $13.9B | ||
| Q2 24 | $10.6B | $13.7B | ||
| Q1 24 | $10.9B | $13.5B |
| Q4 25 | — | 0.43× | ||
| Q3 25 | 0.86× | 0.43× | ||
| Q2 25 | 0.85× | 0.42× | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | 0.38× | ||
| Q3 24 | 0.91× | 0.39× | ||
| Q2 24 | 0.97× | 0.41× | ||
| Q1 24 | 0.95× | 0.42× |
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 | $418.7M |
| Free Cash FlowOCF − Capex | — | $372.4M |
| FCF MarginFCF / Revenue | — | 24.0% |
| Capex IntensityCapex / Revenue | — | 3.0% |
| Cash ConversionOCF / Net Profit | 11.59× | 1.64× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $418.7M | ||
| Q3 25 | $224.3M | $184.3M | ||
| Q2 25 | $145.8M | $602.3M | ||
| Q1 25 | $249.0M | — | ||
| Q4 24 | $154.4M | $579.7M | ||
| Q3 24 | $274.5M | $465.8M | ||
| Q2 24 | $146.5M | $362.2M | ||
| Q1 24 | $263.9M | $498.7M |
| Q4 25 | — | $372.4M | ||
| Q3 25 | — | $106.1M | ||
| Q2 25 | — | $454.7M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $434.8M | ||
| Q3 24 | — | $293.6M | ||
| Q2 24 | — | $207.7M | ||
| Q1 24 | — | $276.3M |
| Q4 25 | — | 24.0% | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | — | 31.5% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 25.2% | ||
| Q3 24 | — | 16.7% | ||
| Q2 24 | — | 12.0% | ||
| Q1 24 | — | 14.8% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 5.3% | ||
| Q2 25 | — | 10.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 8.4% | ||
| Q3 24 | — | 9.8% | ||
| Q2 24 | — | 8.9% | ||
| Q1 24 | — | 11.9% |
| Q4 25 | — | 1.64× | ||
| Q3 25 | 11.59× | 1.08× | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | 1.53× | ||
| Q3 24 | 16.19× | 1.16× | ||
| Q2 24 | 1.86× | 1.07× | ||
| Q1 24 | 3.25× | 1.10× |
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% |
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
