vs
Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and QVC Group, Inc. (QVCGA). Click either name above to swap in a different company.
QVC Group, Inc. is the larger business by last-quarter revenue ($2.7B vs $1.6B, roughly 1.7× DARLING INGREDIENTS INC.). DARLING INGREDIENTS INC. runs the higher net margin — 1.2% vs -1.4%, a 2.6% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs -9.1%). Over the past eight quarters, QVC Group, Inc.'s revenue compounded faster (6.9% 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.
QVC Group, is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.
DAR vs QVCGA — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.7B |
| Net Profit | $19.4M | $-37.0M |
| Gross Margin | 24.7% | 32.9% |
| Operating Margin | 4.6% | 3.7% |
| Net Margin | 1.2% | -1.4% |
| Revenue YoY | 10.0% | -9.1% |
| Net Profit YoY | 14.2% | 97.1% |
| EPS (diluted) | $0.12 | $-17.37 |
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 | — | $2.7B | ||
| Q3 25 | $1.6B | $2.2B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.4B | $2.9B | ||
| Q3 24 | $1.4B | $2.3B | ||
| Q2 24 | $1.5B | $2.4B | ||
| Q1 24 | $1.4B | $2.3B |
| Q4 25 | — | $-37.0M | ||
| Q3 25 | $19.4M | $-80.0M | ||
| Q2 25 | $12.7M | $-2.2B | ||
| Q1 25 | $-26.2M | $-100.0M | ||
| Q4 24 | $101.9M | $-1.3B | ||
| Q3 24 | $16.9M | $-23.0M | ||
| Q2 24 | $78.9M | $20.0M | ||
| Q1 24 | $81.2M | $-1.0M |
| Q4 25 | — | 32.9% | ||
| Q3 25 | 24.7% | 34.0% | ||
| Q2 25 | 23.3% | 36.4% | ||
| Q1 25 | 22.6% | 34.2% | ||
| Q4 24 | 23.5% | 33.3% | ||
| Q3 24 | 22.1% | 35.3% | ||
| Q2 24 | 22.5% | 36.4% | ||
| Q1 24 | 21.4% | 35.5% |
| Q4 25 | — | 3.7% | ||
| Q3 25 | 4.6% | 2.7% | ||
| Q2 25 | 5.1% | -101.6% | ||
| Q1 25 | 2.1% | 0.7% | ||
| Q4 24 | 8.6% | -43.2% | ||
| Q3 24 | 4.2% | 6.5% | ||
| Q2 24 | 10.2% | 6.9% | ||
| Q1 24 | 9.7% | 6.2% |
| Q4 25 | — | -1.4% | ||
| Q3 25 | 1.2% | -3.6% | ||
| Q2 25 | 0.9% | -99.4% | ||
| Q1 25 | -1.9% | -4.8% | ||
| Q4 24 | 7.2% | -43.7% | ||
| Q3 24 | 1.2% | -1.0% | ||
| Q2 24 | 5.4% | 0.8% | ||
| Q1 24 | 5.7% | -0.0% |
| Q4 25 | — | $-17.37 | ||
| Q3 25 | $0.12 | $-9.89 | ||
| Q2 25 | $0.08 | $-275.46 | ||
| Q1 25 | $-0.16 | $-0.25 | ||
| Q4 24 | $0.63 | — | ||
| Q3 24 | $0.11 | $-0.06 | ||
| Q2 24 | $0.49 | $2.57 | ||
| Q1 24 | $0.50 | — |
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 | $2.0B |
| Total DebtLower is stronger | $4.0B | $790.0M |
| Stockholders' EquityBook value | $4.7B | $-3.1B |
| Total Assets | $10.5B | $7.6B |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.0B | ||
| Q3 25 | $91.5M | $1.8B | ||
| Q2 25 | $94.6M | $897.0M | ||
| Q1 25 | $81.5M | $833.0M | ||
| Q4 24 | $76.0M | $905.0M | ||
| Q3 24 | $114.8M | $873.0M | ||
| Q2 24 | $121.6M | $1.2B | ||
| Q1 24 | $145.5M | $1.1B |
| Q4 25 | — | $790.0M | ||
| Q3 25 | $4.0B | $5.9B | ||
| Q2 25 | $3.9B | $4.9B | ||
| Q1 25 | $3.8B | $5.0B | ||
| Q4 24 | $3.9B | $4.1B | ||
| Q3 24 | $4.1B | $5.1B | ||
| Q2 24 | $4.3B | $5.3B | ||
| Q1 24 | $4.4B | $5.5B |
| Q4 25 | — | $-3.1B | ||
| Q3 25 | $4.7B | $-3.1B | ||
| Q2 25 | $4.6B | $-3.0B | ||
| Q1 25 | $4.4B | $-981.0M | ||
| Q4 24 | $4.4B | $-971.0M | ||
| Q3 24 | $4.6B | $397.0M | ||
| Q2 24 | $4.5B | $328.0M | ||
| Q1 24 | $4.6B | $255.0M |
| Q4 25 | — | $7.6B | ||
| Q3 25 | $10.5B | $7.6B | ||
| Q2 25 | $10.3B | $6.7B | ||
| Q1 25 | $10.0B | $9.0B | ||
| Q4 24 | $10.1B | $9.2B | ||
| Q3 24 | $10.6B | $10.8B | ||
| Q2 24 | $10.6B | $10.9B | ||
| Q1 24 | $10.9B | $11.0B |
| Q4 25 | — | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.91× | 12.74× | ||
| Q2 24 | 0.97× | 16.28× | ||
| Q1 24 | 0.95× | 21.53× |
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 | $244.0M |
| Free Cash FlowOCF − Capex | — | $191.0M |
| FCF MarginFCF / Revenue | — | 7.1% |
| Capex IntensityCapex / Revenue | — | 2.0% |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $244.0M | ||
| Q3 25 | $224.3M | $4.0M | ||
| Q2 25 | $145.8M | $86.0M | ||
| Q1 25 | $249.0M | $-60.0M | ||
| Q4 24 | $154.4M | $212.0M | ||
| Q3 24 | $274.5M | $20.0M | ||
| Q2 24 | $146.5M | $267.0M | ||
| Q1 24 | $263.9M | $26.0M |
| Q4 25 | — | $191.0M | ||
| Q3 25 | — | $-27.0M | ||
| Q2 25 | — | $48.0M | ||
| Q1 25 | — | $-94.0M | ||
| Q4 24 | — | $150.0M | ||
| Q3 24 | — | $-23.0M | ||
| Q2 24 | — | $213.0M | ||
| Q1 24 | — | $-14.0M |
| Q4 25 | — | 7.1% | ||
| Q3 25 | — | -1.2% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | -4.5% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | — | -1.0% | ||
| Q2 24 | — | 8.8% | ||
| Q1 24 | — | -0.6% |
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | — | — | ||
| Q3 25 | 11.59× | — | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | — | ||
| Q2 24 | 1.86× | 13.35× | ||
| Q1 24 | 3.25× | — |
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% |
QVCGA
| Other | $915.0M | 34% |
| Home | $754.0M | 28% |
| Beauty | $260.0M | 10% |
| Apparel | $254.0M | 9% |
| Electronics | $187.0M | 7% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 3% |
| Manufactured Product Other | $38.0M | 1% |
