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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Public Storage (PSA). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.2B, roughly 1.3× Public Storage). Public Storage runs the higher net margin — 41.7% vs 1.2%, a 40.5% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 3.3%). Over the past eight quarters, Public Storage's revenue compounded faster (2.5% 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.
Public Storage, headquartered in Glendale, California, is a real estate investment trust that invests in self storage. It is the largest brand of self-storage services in the US and owns approximately 9% of the self storage square footage in the U.S. As of December 31, 2024, the company operated 3,073 self-storage facilities containing an aggregate of 221 million net rentable square feet of space.
DAR vs PSA — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.2B |
| Net Profit | $19.4M | $507.1M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | 40.7% |
| Net Margin | 1.2% | 41.7% |
| Revenue YoY | 10.0% | 3.3% |
| Net Profit YoY | 14.2% | -17.5% |
| EPS (diluted) | $0.12 | $2.59 |
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 | — | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
| Q4 25 | — | $507.1M | ||
| Q3 25 | $19.4M | $511.1M | ||
| Q2 25 | $12.7M | $358.4M | ||
| Q1 25 | $-26.2M | $407.8M | ||
| Q4 24 | $101.9M | $614.6M | ||
| Q3 24 | $16.9M | $430.3M | ||
| Q2 24 | $78.9M | $518.1M | ||
| Q1 24 | $81.2M | $508.9M |
| 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 24 | 21.4% | — |
| Q4 25 | — | 40.7% | ||
| Q3 25 | 4.6% | 42.3% | ||
| Q2 25 | 5.1% | 30.4% | ||
| Q1 25 | 2.1% | 34.8% | ||
| Q4 24 | 8.6% | 52.4% | ||
| Q3 24 | 4.2% | 36.7% | ||
| Q2 24 | 10.2% | 44.6% | ||
| Q1 24 | 9.7% | 44.3% |
| Q4 25 | — | 41.7% | ||
| Q3 25 | 1.2% | 41.8% | ||
| Q2 25 | 0.9% | 29.8% | ||
| Q1 25 | -1.9% | 34.5% | ||
| Q4 24 | 7.2% | 52.2% | ||
| Q3 24 | 1.2% | 36.2% | ||
| Q2 24 | 5.4% | 44.2% | ||
| Q1 24 | 5.7% | 44.0% |
| Q4 25 | — | $2.59 | ||
| Q3 25 | $0.12 | $2.62 | ||
| Q2 25 | $0.08 | $1.76 | ||
| Q1 25 | $-0.16 | $2.04 | ||
| Q4 24 | $0.63 | $3.22 | ||
| Q3 24 | $0.11 | $2.16 | ||
| Q2 24 | $0.49 | $2.66 | ||
| Q1 24 | $0.50 | $2.60 |
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 | $318.1M |
| Total DebtLower is stronger | $4.0B | $10.3B |
| Stockholders' EquityBook value | $4.7B | $9.2B |
| Total Assets | $10.5B | $20.2B |
| Debt / EquityLower = less leverage | 0.86× | 1.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $318.1M | ||
| Q3 25 | $91.5M | $296.5M | ||
| Q2 25 | $94.6M | $1.1B | ||
| Q1 25 | $81.5M | $287.2M | ||
| Q4 24 | $76.0M | $447.4M | ||
| Q3 24 | $114.8M | $599.0M | ||
| Q2 24 | $121.6M | $542.3M | ||
| Q1 24 | $145.5M | $271.6M |
| Q4 25 | — | $10.3B | ||
| Q3 25 | $4.0B | $10.0B | ||
| Q2 25 | $3.9B | $10.4B | ||
| Q1 25 | $3.8B | $9.4B | ||
| Q4 24 | $3.9B | $9.4B | ||
| Q3 24 | $4.1B | $9.5B | ||
| Q2 24 | $4.3B | $9.4B | ||
| Q1 24 | $4.4B | $9.1B |
| Q4 25 | — | $9.2B | ||
| Q3 25 | $4.7B | $9.3B | ||
| Q2 25 | $4.6B | $9.4B | ||
| Q1 25 | $4.4B | $9.6B | ||
| Q4 24 | $4.4B | $9.7B | ||
| Q3 24 | $4.6B | $9.6B | ||
| Q2 24 | $4.5B | $9.7B | ||
| Q1 24 | $4.6B | $9.9B |
| Q4 25 | — | $20.2B | ||
| Q3 25 | $10.5B | $20.1B | ||
| Q2 25 | $10.3B | $20.5B | ||
| Q1 25 | $10.0B | $19.6B | ||
| Q4 24 | $10.1B | $19.8B | ||
| Q3 24 | $10.6B | $19.8B | ||
| Q2 24 | $10.6B | $19.8B | ||
| Q1 24 | $10.9B | $19.6B |
| Q4 25 | — | 1.11× | ||
| Q3 25 | 0.86× | 1.08× | ||
| Q2 25 | 0.85× | 1.11× | ||
| Q1 25 | 0.86× | 0.99× | ||
| Q4 24 | 0.89× | 0.96× | ||
| Q3 24 | 0.91× | 0.99× | ||
| Q2 24 | 0.97× | 0.97× | ||
| Q1 24 | 0.95× | 0.91× |
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 | $733.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 11.59× | 1.45× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $733.6M | ||
| Q3 25 | $224.3M | $875.1M | ||
| Q2 25 | $145.8M | $872.7M | ||
| Q1 25 | $249.0M | $705.1M | ||
| Q4 24 | $154.4M | $768.6M | ||
| Q3 24 | $274.5M | $798.8M | ||
| Q2 24 | $146.5M | $895.3M | ||
| Q1 24 | $263.9M | $665.6M |
| Q4 25 | — | 1.45× | ||
| Q3 25 | 11.59× | 1.71× | ||
| Q2 25 | 11.52× | 2.43× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | 1.52× | 1.25× | ||
| Q3 24 | 16.19× | 1.86× | ||
| Q2 24 | 1.86× | 1.73× | ||
| Q1 24 | 3.25× | 1.31× |
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% |
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
