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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Primoris Services Corp (PRIM). Click either name above to swap in a different company.
Primoris Services Corp is the larger business by last-quarter revenue ($1.9B vs $1.6B, roughly 1.2× DARLING INGREDIENTS INC.). Primoris Services Corp runs the higher net margin — 2.8% vs 1.2%, a 1.5% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 6.7%). Over the past eight quarters, Primoris Services Corp's revenue compounded faster (14.7% 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.
Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. As of 2014 it was a Fortune 1000 company.
DAR vs PRIM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.9B |
| Net Profit | $19.4M | $51.7M |
| Gross Margin | 24.7% | 9.4% |
| Operating Margin | 4.6% | 4.2% |
| Net Margin | 1.2% | 2.8% |
| Revenue YoY | 10.0% | 6.7% |
| Net Profit YoY | 14.2% | -4.2% |
| EPS (diluted) | $0.12 | $0.94 |
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 | — | $1.9B | ||
| Q3 25 | $1.6B | $2.2B | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.4B | $1.6B | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | $1.4B | $1.4B |
| Q4 25 | — | $51.7M | ||
| Q3 25 | $19.4M | $94.6M | ||
| Q2 25 | $12.7M | $84.3M | ||
| Q1 25 | $-26.2M | $44.2M | ||
| Q4 24 | $101.9M | $54.0M | ||
| Q3 24 | $16.9M | $58.4M | ||
| Q2 24 | $78.9M | $49.5M | ||
| Q1 24 | $81.2M | $18.9M |
| Q4 25 | — | 9.4% | ||
| Q3 25 | 24.7% | 10.8% | ||
| Q2 25 | 23.3% | 12.3% | ||
| Q1 25 | 22.6% | 10.4% | ||
| Q4 24 | 23.5% | 10.6% | ||
| Q3 24 | 22.1% | 12.0% | ||
| Q2 24 | 22.5% | 11.9% | ||
| Q1 24 | 21.4% | 9.4% |
| Q4 25 | — | 4.2% | ||
| Q3 25 | 4.6% | 6.3% | ||
| Q2 25 | 5.1% | 6.7% | ||
| Q1 25 | 2.1% | 4.3% | ||
| Q4 24 | 8.6% | 5.0% | ||
| Q3 24 | 4.2% | 6.0% | ||
| Q2 24 | 10.2% | 5.5% | ||
| Q1 24 | 9.7% | 3.1% |
| Q4 25 | — | 2.8% | ||
| Q3 25 | 1.2% | 4.3% | ||
| Q2 25 | 0.9% | 4.5% | ||
| Q1 25 | -1.9% | 2.7% | ||
| Q4 24 | 7.2% | 3.1% | ||
| Q3 24 | 1.2% | 3.5% | ||
| Q2 24 | 5.4% | 3.2% | ||
| Q1 24 | 5.7% | 1.3% |
| Q4 25 | — | $0.94 | ||
| Q3 25 | $0.12 | $1.73 | ||
| Q2 25 | $0.08 | $1.54 | ||
| Q1 25 | $-0.16 | $0.81 | ||
| Q4 24 | $0.63 | $0.98 | ||
| Q3 24 | $0.11 | $1.07 | ||
| Q2 24 | $0.49 | $0.91 | ||
| Q1 24 | $0.50 | $0.35 |
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 | $535.5M |
| Total DebtLower is stronger | $4.0B | $469.9M |
| Stockholders' EquityBook value | $4.7B | $1.7B |
| Total Assets | $10.5B | $4.4B |
| Debt / EquityLower = less leverage | 0.86× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $535.5M | ||
| Q3 25 | $91.5M | $431.4M | ||
| Q2 25 | $94.6M | $390.3M | ||
| Q1 25 | $81.5M | $351.6M | ||
| Q4 24 | $76.0M | $455.8M | ||
| Q3 24 | $114.8M | $352.7M | ||
| Q2 24 | $121.6M | $207.4M | ||
| Q1 24 | $145.5M | $177.6M |
| Q4 25 | — | $469.9M | ||
| Q3 25 | $4.0B | $486.0M | ||
| Q2 25 | $3.9B | $603.1M | ||
| Q1 25 | $3.8B | $612.0M | ||
| Q4 24 | $3.9B | $734.8M | ||
| Q3 24 | $4.1B | $903.7M | ||
| Q2 24 | $4.3B | $933.0M | ||
| Q1 24 | $4.4B | $951.7M |
| Q4 25 | — | $1.7B | ||
| Q3 25 | $4.7B | $1.6B | ||
| Q2 25 | $4.6B | $1.5B | ||
| Q1 25 | $4.4B | $1.4B | ||
| Q4 24 | $4.4B | $1.4B | ||
| Q3 24 | $4.6B | $1.4B | ||
| Q2 24 | $4.5B | $1.3B | ||
| Q1 24 | $4.6B | $1.2B |
| Q4 25 | — | $4.4B | ||
| Q3 25 | $10.5B | $4.6B | ||
| Q2 25 | $10.3B | $4.5B | ||
| Q1 25 | $10.0B | $4.2B | ||
| Q4 24 | $10.1B | $4.2B | ||
| Q3 24 | $10.6B | $4.2B | ||
| Q2 24 | $10.6B | $4.0B | ||
| Q1 24 | $10.9B | $4.0B |
| Q4 25 | — | 0.28× | ||
| Q3 25 | 0.86× | 0.30× | ||
| Q2 25 | 0.85× | 0.39× | ||
| Q1 25 | 0.86× | 0.42× | ||
| Q4 24 | 0.89× | 0.52× | ||
| Q3 24 | 0.91× | 0.67× | ||
| Q2 24 | 0.97× | 0.72× | ||
| Q1 24 | 0.95× | 0.76× |
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 | $142.9M |
| Free Cash FlowOCF − Capex | — | $121.1M |
| FCF MarginFCF / Revenue | — | 6.5% |
| Capex IntensityCapex / Revenue | — | 1.2% |
| Cash ConversionOCF / Net Profit | 11.59× | 2.76× |
| TTM Free Cash FlowTrailing 4 quarters | — | $340.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $142.9M | ||
| Q3 25 | $224.3M | $182.9M | ||
| Q2 25 | $145.8M | $78.5M | ||
| Q1 25 | $249.0M | $66.2M | ||
| Q4 24 | $154.4M | $298.3M | ||
| Q3 24 | $274.5M | $222.5M | ||
| Q2 24 | $146.5M | $16.1M | ||
| Q1 24 | $263.9M | $-28.5M |
| Q4 25 | — | $121.1M | ||
| Q3 25 | — | $148.4M | ||
| Q2 25 | — | $45.3M | ||
| Q1 25 | — | $25.6M | ||
| Q4 24 | — | $270.0M | ||
| Q3 24 | — | $158.8M | ||
| Q2 24 | — | $-8.1M | ||
| Q1 24 | — | $-38.9M |
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | — | -0.5% | ||
| Q1 24 | — | -2.8% |
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 0.7% |
| Q4 25 | — | 2.76× | ||
| Q3 25 | 11.59× | 1.93× | ||
| Q2 25 | 11.52× | 0.93× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 1.52× | 5.53× | ||
| Q3 24 | 16.19× | 3.81× | ||
| Q2 24 | 1.86× | 0.32× | ||
| Q1 24 | 3.25× | -1.50× |
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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
