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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Ovintiv Inc. (OVV). Click either name above to swap in a different company.
Ovintiv Inc. is the larger business by last-quarter revenue ($2.5B vs $1.6B, roughly 1.6× DARLING INGREDIENTS INC.). Ovintiv Inc. runs the higher net margin — 49.1% vs 1.2%, a 47.8% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 6.5%). Over the past eight quarters, Ovintiv Inc.'s revenue compounded faster (7.5% 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.
Ovintiv Inc. is a U.S. petroleum company based in Denver. The company was formed in 2020 through a restructuring of its Canadian predecessor, Encana.
DAR vs OVV — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.5B |
| Net Profit | $19.4M | $1.2B |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | -29.8% |
| Net Margin | 1.2% | 49.1% |
| Revenue YoY | 10.0% | 6.5% |
| Net Profit YoY | 14.2% | — |
| EPS (diluted) | $0.12 | $4.78 |
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 | — | $2.5B | ||
| Q4 25 | — | $2.1B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.4B | $2.4B | ||
| Q4 24 | $1.4B | $2.2B | ||
| Q3 24 | $1.4B | $2.2B | ||
| Q2 24 | $1.5B | $2.2B |
| Q1 26 | — | $1.2B | ||
| Q4 25 | — | $946.0M | ||
| Q3 25 | $19.4M | $148.0M | ||
| Q2 25 | $12.7M | $307.0M | ||
| Q1 25 | $-26.2M | $-159.0M | ||
| Q4 24 | $101.9M | $-60.0M | ||
| Q3 24 | $16.9M | $507.0M | ||
| Q2 24 | $78.9M | $340.0M |
| 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 | — | -29.8% | ||
| Q4 25 | — | 21.2% | ||
| Q3 25 | 4.6% | 13.5% | ||
| Q2 25 | 5.1% | 23.1% | ||
| Q1 25 | 2.1% | -3.7% | ||
| Q4 24 | 8.6% | 0.1% | ||
| Q3 24 | 4.2% | 24.2% | ||
| Q2 24 | 10.2% | 25.4% |
| Q1 26 | — | 49.1% | ||
| Q4 25 | — | 46.1% | ||
| Q3 25 | 1.2% | 7.3% | ||
| Q2 25 | 0.9% | 13.9% | ||
| Q1 25 | -1.9% | -6.7% | ||
| Q4 24 | 7.2% | -2.7% | ||
| Q3 24 | 1.2% | 23.3% | ||
| Q2 24 | 5.4% | 15.5% |
| Q1 26 | — | $4.78 | ||
| Q4 25 | — | $3.64 | ||
| Q3 25 | $0.12 | $0.57 | ||
| Q2 25 | $0.08 | $1.18 | ||
| Q1 25 | $-0.16 | $-0.61 | ||
| Q4 24 | $0.63 | $-0.22 | ||
| Q3 24 | $0.11 | $1.92 | ||
| Q2 24 | $0.49 | $1.27 |
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 | $26.0K |
| Total DebtLower is stronger | $4.0B | $6.4M |
| Stockholders' EquityBook value | $4.7B | — |
| Total Assets | $10.5B | $10.7M |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $26.0K | ||
| Q4 25 | — | $280.0M | ||
| Q3 25 | $91.5M | $25.0M | ||
| Q2 25 | $94.6M | $20.0M | ||
| Q1 25 | $81.5M | $8.0M | ||
| Q4 24 | $76.0M | $42.0M | ||
| Q3 24 | $114.8M | $9.0M | ||
| Q2 24 | $121.6M | $8.0M |
| Q1 26 | — | $6.4M | ||
| Q4 25 | — | $5.2B | ||
| Q3 25 | $4.0B | $5.2B | ||
| Q2 25 | $3.9B | $5.3B | ||
| Q1 25 | $3.8B | $5.5B | ||
| Q4 24 | $3.9B | $5.5B | ||
| Q3 24 | $4.1B | $5.9B | ||
| Q2 24 | $4.3B | $6.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | $11.2B | ||
| Q3 25 | $4.7B | $10.2B | ||
| Q2 25 | $4.6B | $10.4B | ||
| Q1 25 | $4.4B | $10.1B | ||
| Q4 24 | $4.4B | $10.3B | ||
| Q3 24 | $4.6B | $10.7B | ||
| Q2 24 | $4.5B | $10.3B |
| Q1 26 | — | $10.7M | ||
| Q4 25 | — | $20.4B | ||
| Q3 25 | $10.5B | $19.4B | ||
| Q2 25 | $10.3B | $19.7B | ||
| Q1 25 | $10.0B | $19.6B | ||
| Q4 24 | $10.1B | $19.3B | ||
| Q3 24 | $10.6B | $19.9B | ||
| Q2 24 | $10.6B | $19.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | 0.86× | 0.51× | ||
| Q2 25 | 0.85× | 0.51× | ||
| Q1 25 | 0.86× | 0.55× | ||
| Q4 24 | 0.89× | 0.53× | ||
| Q3 24 | 0.91× | 0.55× | ||
| Q2 24 | 0.97× | 0.59× |
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 | — | 22.6% |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $954.0M | ||
| Q3 25 | $224.3M | $812.0M | ||
| Q2 25 | $145.8M | $1.0B | ||
| Q1 25 | $249.0M | $873.0M | ||
| Q4 24 | $154.4M | $1.0B | ||
| Q3 24 | $274.5M | $1.0B | ||
| Q2 24 | $146.5M | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | $489.0M | ||
| Q3 25 | — | $268.0M | ||
| Q2 25 | — | $492.0M | ||
| Q1 25 | — | $256.0M | ||
| Q4 24 | — | $468.0M | ||
| Q3 24 | — | $484.0M | ||
| Q2 24 | — | $398.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 23.8% | ||
| Q3 25 | — | 13.3% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 22.2% | ||
| Q2 24 | — | 18.1% |
| Q1 26 | — | 22.6% | ||
| Q4 25 | — | 22.6% | ||
| Q3 25 | — | 26.9% | ||
| Q2 25 | — | 23.5% | ||
| Q1 25 | — | 26.0% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 28.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.01× | ||
| Q3 25 | 11.59× | 5.49× | ||
| Q2 25 | 11.52× | 3.30× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | 2.02× | ||
| Q2 24 | 1.86× | 3.00× |
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% |
OVV
| Product and service revenues | $2.2B | 88% |
| Sales of purchased product | $356.0M | 14% |
| Sublease revenues | $18.0M | 1% |
