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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and PERRIGO Co plc (PRGO). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.1B, roughly 1.4× PERRIGO Co plc). DARLING INGREDIENTS INC. runs the higher net margin — 1.2% vs -127.8%, a 129.0% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs -2.5%). Over the past eight quarters, PERRIGO Co plc's revenue compounded faster (1.3% 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.
Perrigo Company plc is an American Irish-registered manufacturer of private label over-the-counter pharmaceuticals, and while 70% of Perrigo's net sales are from the U.S. healthcare system, Perrigo is legally headquartered in Ireland for tax purposes, which accounts for 0.60% of net sales. In 2013, Perrigo completed the sixth-largest US corporate tax inversion in history when it reregistered its tax status to Ireland to avoid U.S. corporate taxes. Perrigo maintains its corporate headquarters ...
DAR vs PRGO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.1B |
| Net Profit | $19.4M | $-1.4B |
| Gross Margin | 24.7% | 32.6% |
| Operating Margin | 4.6% | -116.0% |
| Net Margin | 1.2% | -127.8% |
| Revenue YoY | 10.0% | -2.5% |
| Net Profit YoY | 14.2% | -3093.9% |
| EPS (diluted) | $0.12 | $-10.23 |
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 | — | $1.1B | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.4B | $1.1B |
| Q4 25 | — | $-1.4B | ||
| Q3 25 | $19.4M | $7.5M | ||
| Q2 25 | $12.7M | $-8.4M | ||
| Q1 25 | $-26.2M | $-6.4M | ||
| Q4 24 | $101.9M | $-44.4M | ||
| Q3 24 | $16.9M | $-21.0M | ||
| Q2 24 | $78.9M | $-108.4M | ||
| Q1 24 | $81.2M | $2.0M |
| Q4 25 | — | 32.6% | ||
| Q3 25 | 24.7% | 36.1% | ||
| Q2 25 | 23.3% | 34.4% | ||
| Q1 25 | 22.6% | 37.6% | ||
| Q4 24 | 23.5% | 33.9% | ||
| Q3 24 | 22.1% | 37.2% | ||
| Q2 24 | 22.5% | 37.0% | ||
| Q1 24 | 21.4% | 33.1% |
| Q4 25 | — | -116.0% | ||
| Q3 25 | 4.6% | 7.0% | ||
| Q2 25 | 5.1% | 4.3% | ||
| Q1 25 | 2.1% | 4.5% | ||
| Q4 24 | 8.6% | 10.0% | ||
| Q3 24 | 4.2% | 7.4% | ||
| Q2 24 | 10.2% | -2.5% | ||
| Q1 24 | 9.7% | -5.1% |
| Q4 25 | — | -127.8% | ||
| Q3 25 | 1.2% | 0.7% | ||
| Q2 25 | 0.9% | -0.8% | ||
| Q1 25 | -1.9% | -0.6% | ||
| Q4 24 | 7.2% | -3.9% | ||
| Q3 24 | 1.2% | -1.9% | ||
| Q2 24 | 5.4% | -10.2% | ||
| Q1 24 | 5.7% | 0.2% |
| Q4 25 | — | $-10.23 | ||
| Q3 25 | $0.12 | $0.05 | ||
| Q2 25 | $0.08 | $-0.06 | ||
| Q1 25 | $-0.16 | $-0.05 | ||
| Q4 24 | $0.63 | $-0.32 | ||
| Q3 24 | $0.11 | $-0.15 | ||
| Q2 24 | $0.49 | $-0.79 | ||
| Q1 24 | $0.50 | $0.01 |
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 | $2.9B |
| Total Assets | $10.5B | $8.5B |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $91.5M | $432.1M | ||
| Q2 25 | $94.6M | $454.2M | ||
| Q1 25 | $81.5M | $409.9M | ||
| Q4 24 | $76.0M | $558.8M | ||
| Q3 24 | $114.8M | $1.5B | ||
| Q2 24 | $121.6M | $542.8M | ||
| Q1 24 | $145.5M | $658.5M |
| 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 | — | $2.9B | ||
| Q3 25 | $4.7B | $4.4B | ||
| Q2 25 | $4.6B | $4.5B | ||
| Q1 25 | $4.4B | $4.4B | ||
| Q4 24 | $4.4B | $4.3B | ||
| Q3 24 | $4.6B | $4.6B | ||
| Q2 24 | $4.5B | $4.5B | ||
| Q1 24 | $4.6B | $4.7B |
| Q4 25 | — | $8.5B | ||
| Q3 25 | $10.5B | $10.1B | ||
| Q2 25 | $10.3B | $10.1B | ||
| Q1 25 | $10.0B | $9.8B | ||
| Q4 24 | $10.1B | $9.6B | ||
| Q3 24 | $10.6B | $11.2B | ||
| Q2 24 | $10.6B | $10.4B | ||
| Q1 24 | $10.9B | $10.6B |
| 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 | $175.4M |
| Free Cash FlowOCF − Capex | — | $148.6M |
| FCF MarginFCF / Revenue | — | 13.4% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $145.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $175.4M | ||
| Q3 25 | $224.3M | $51.7M | ||
| Q2 25 | $145.8M | $75.9M | ||
| Q1 25 | $249.0M | $-64.5M | ||
| Q4 24 | $154.4M | $312.6M | ||
| Q3 24 | $274.5M | $42.2M | ||
| Q2 24 | $146.5M | $9.5M | ||
| Q1 24 | $263.9M | $-1.4M |
| Q4 25 | — | $148.6M | ||
| Q3 25 | — | $29.8M | ||
| Q2 25 | — | $56.7M | ||
| Q1 25 | — | $-90.0M | ||
| Q4 24 | — | $274.9M | ||
| Q3 24 | — | $15.1M | ||
| Q2 24 | — | $-18.9M | ||
| Q1 24 | — | $-26.5M |
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | -8.6% | ||
| Q4 24 | — | 24.2% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | -1.8% | ||
| Q1 24 | — | -2.4% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | 2.3% |
| Q4 25 | — | — | ||
| Q3 25 | 11.59× | 6.89× | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | — | ||
| Q2 24 | 1.86× | — | ||
| Q1 24 | 3.25× | -0.70× |
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% |
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
