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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and OPEN TEXT CORP (OTEX). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.3B, roughly 1.2× OPEN TEXT CORP). OPEN TEXT CORP runs the higher net margin — 12.7% vs 1.2%, a 11.4% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs -0.6%). Over the past eight quarters, DARLING INGREDIENTS INC.'s revenue compounded faster (-1.6% CAGR vs -4.3%).
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.
Open Text Corporation is a global software company that develops and sells information management software.
DAR vs OTEX — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.3B |
| Net Profit | $19.4M | $168.1M |
| Gross Margin | 24.7% | 74.0% |
| Operating Margin | 4.6% | 22.0% |
| Net Margin | 1.2% | 12.7% |
| Revenue YoY | 10.0% | -0.6% |
| Net Profit YoY | 14.2% | -26.9% |
| EPS (diluted) | $0.12 | $0.66 |
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 | — | $1.3B | ||
| Q3 25 | $1.6B | $1.3B | ||
| Q2 25 | $1.5B | $1.3B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.5B | $1.4B | ||
| Q1 24 | $1.4B | $1.4B |
| Q4 25 | — | $168.1M | ||
| Q3 25 | $19.4M | $146.6M | ||
| Q2 25 | $12.7M | $28.8M | ||
| Q1 25 | $-26.2M | $92.8M | ||
| Q4 24 | $101.9M | $229.9M | ||
| Q3 24 | $16.9M | $84.4M | ||
| Q2 24 | $78.9M | $248.2M | ||
| Q1 24 | $81.2M | $98.3M |
| Q4 25 | — | 74.0% | ||
| Q3 25 | 24.7% | 72.8% | ||
| Q2 25 | 23.3% | 72.3% | ||
| Q1 25 | 22.6% | 71.6% | ||
| Q4 24 | 23.5% | 73.3% | ||
| Q3 24 | 22.1% | 71.7% | ||
| Q2 24 | 22.5% | 72.5% | ||
| Q1 24 | 21.4% | 73.0% |
| Q4 25 | — | 22.0% | ||
| Q3 25 | 4.6% | 21.0% | ||
| Q2 25 | 5.1% | 13.9% | ||
| Q1 25 | 2.1% | 16.7% | ||
| Q4 24 | 8.6% | 22.2% | ||
| Q3 24 | 4.2% | 16.3% | ||
| Q2 24 | 10.2% | 14.2% | ||
| Q1 24 | 9.7% | 15.7% |
| Q4 25 | — | 12.7% | ||
| Q3 25 | 1.2% | 11.4% | ||
| Q2 25 | 0.9% | 2.2% | ||
| Q1 25 | -1.9% | 7.4% | ||
| Q4 24 | 7.2% | 17.2% | ||
| Q3 24 | 1.2% | 6.6% | ||
| Q2 24 | 5.4% | 18.2% | ||
| Q1 24 | 5.7% | 6.8% |
| Q4 25 | — | $0.66 | ||
| Q3 25 | $0.12 | $0.58 | ||
| Q2 25 | $0.08 | $0.11 | ||
| Q1 25 | $-0.16 | $0.35 | ||
| Q4 24 | $0.63 | $0.87 | ||
| Q3 24 | $0.11 | $0.32 | ||
| Q2 24 | $0.49 | $0.91 | ||
| Q1 24 | $0.50 | $0.36 |
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 | $1.3B |
| Total DebtLower is stronger | $4.0B | $6.4B |
| Stockholders' EquityBook value | $4.7B | $4.0B |
| Total Assets | $10.5B | $13.6B |
| Debt / EquityLower = less leverage | 0.86× | 1.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.3B | ||
| Q3 25 | $91.5M | $1.1B | ||
| Q2 25 | $94.6M | $1.2B | ||
| Q1 25 | $81.5M | $1.3B | ||
| Q4 24 | $76.0M | $1.1B | ||
| Q3 24 | $114.8M | $1.0B | ||
| Q2 24 | $121.6M | $1.3B | ||
| Q1 24 | $145.5M | $1.1B |
| Q4 25 | — | $6.4B | ||
| Q3 25 | $4.0B | $6.4B | ||
| Q2 25 | $3.9B | $6.4B | ||
| Q1 25 | $3.8B | $6.4B | ||
| Q4 24 | $3.9B | $6.4B | ||
| Q3 24 | $4.1B | $6.4B | ||
| Q2 24 | $4.3B | $6.4B | ||
| Q1 24 | $4.4B | $8.4B |
| Q4 25 | — | $4.0B | ||
| Q3 25 | $4.7B | $4.0B | ||
| Q2 25 | $4.6B | $3.9B | ||
| Q1 25 | $4.4B | $4.1B | ||
| Q4 24 | $4.4B | $4.2B | ||
| Q3 24 | $4.6B | $4.1B | ||
| Q2 24 | $4.5B | $4.2B | ||
| Q1 24 | $4.6B | $4.1B |
| Q4 25 | — | $13.6B | ||
| Q3 25 | $10.5B | $13.5B | ||
| Q2 25 | $10.3B | $13.8B | ||
| Q1 25 | $10.0B | $13.8B | ||
| Q4 24 | $10.1B | $13.7B | ||
| Q3 24 | $10.6B | $13.8B | ||
| Q2 24 | $10.6B | $14.2B | ||
| Q1 24 | $10.9B | $16.4B |
| Q4 25 | — | 1.58× | ||
| Q3 25 | 0.86× | 1.61× | ||
| Q2 25 | 0.85× | 1.62× | ||
| Q1 25 | 0.86× | 1.55× | ||
| Q4 24 | 0.89× | 1.51× | ||
| Q3 24 | 0.91× | 1.55× | ||
| Q2 24 | 0.97× | 1.52× | ||
| Q1 24 | 0.95× | 2.02× |
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 | $318.7M |
| Free Cash FlowOCF − Capex | — | $279.4M |
| FCF MarginFCF / Revenue | — | 21.1% |
| Capex IntensityCapex / Revenue | — | 3.0% |
| Cash ConversionOCF / Net Profit | 11.59× | 1.90× |
| TTM Free Cash FlowTrailing 4 quarters | — | $878.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $318.7M | ||
| Q3 25 | $224.3M | $147.8M | ||
| Q2 25 | $145.8M | $158.2M | ||
| Q1 25 | $249.0M | $402.2M | ||
| Q4 24 | $154.4M | $348.0M | ||
| Q3 24 | $274.5M | $-77.8M | ||
| Q2 24 | $146.5M | $185.2M | ||
| Q1 24 | $263.9M | $384.7M |
| Q4 25 | — | $279.4M | ||
| Q3 25 | — | $101.2M | ||
| Q2 25 | — | $124.0M | ||
| Q1 25 | — | $373.8M | ||
| Q4 24 | — | $306.7M | ||
| Q3 24 | — | $-117.1M | ||
| Q2 24 | — | $145.2M | ||
| Q1 24 | — | $348.2M |
| Q4 25 | — | 21.1% | ||
| Q3 25 | — | 7.9% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 29.8% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | -9.2% | ||
| Q2 24 | — | 10.7% | ||
| Q1 24 | — | 24.1% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 3.1% | ||
| Q2 24 | — | 2.9% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | — | 1.90× | ||
| Q3 25 | 11.59× | 1.01× | ||
| Q2 25 | 11.52× | 5.49× | ||
| Q1 25 | — | 4.33× | ||
| Q4 24 | 1.52× | 1.51× | ||
| Q3 24 | 16.19× | -0.92× | ||
| Q2 24 | 1.86× | 0.75× | ||
| Q1 24 | 3.25× | 3.91× |
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% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
