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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and RYDER SYSTEM INC (R). Click either name above to swap in a different company.
RYDER SYSTEM INC is the larger business by last-quarter revenue ($3.1B vs $1.6B, roughly 2.0× DARLING INGREDIENTS INC.). RYDER SYSTEM INC runs the higher net margin — 3.0% vs 1.2%, a 1.7% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 1.0%). Over the past eight quarters, RYDER SYSTEM INC's revenue compounded faster (-0.9% 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.
Ryder System, Inc. is an American transportation and logistics company, specializing in truck rental and leasing, fleet management, supply chain management, and transportation management. It also offers full-service leasing, rental and maintenance, used vehicle sales, transportation management, professional drivers, e-commerce fulfillment, and last-mile delivery services. The company is headquartered in Coral Gables, Florida, and operates in the United States and United Kingdom.
DAR vs R — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $3.1B |
| Net Profit | $19.4M | $93.0M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | — |
| Net Margin | 1.2% | 3.0% |
| Revenue YoY | 10.0% | 1.0% |
| Net Profit YoY | 14.2% | -5.1% |
| EPS (diluted) | $0.12 | $2.34 |
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 | — | $3.1B | ||
| Q4 25 | — | $3.2B | ||
| Q3 25 | $1.6B | $3.2B | ||
| Q2 25 | $1.5B | $3.2B | ||
| Q1 25 | $1.4B | $3.1B | ||
| Q4 24 | $1.4B | $3.2B | ||
| Q3 24 | $1.4B | $3.2B | ||
| Q2 24 | $1.5B | $3.2B |
| Q1 26 | — | $93.0M | ||
| Q4 25 | — | $132.0M | ||
| Q3 25 | $19.4M | $138.0M | ||
| Q2 25 | $12.7M | $131.0M | ||
| Q1 25 | $-26.2M | $98.0M | ||
| Q4 24 | $101.9M | $135.0M | ||
| Q3 24 | $16.9M | $142.0M | ||
| Q2 24 | $78.9M | $127.0M |
| 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 | — | — | ||
| Q4 25 | — | 5.6% | ||
| Q3 25 | 4.6% | 6.0% | ||
| Q2 25 | 5.1% | 5.8% | ||
| Q1 25 | 2.1% | 4.3% | ||
| Q4 24 | 8.6% | 5.7% | ||
| Q3 24 | 4.2% | 5.9% | ||
| Q2 24 | 10.2% | 5.6% |
| Q1 26 | — | 3.0% | ||
| Q4 25 | — | 4.2% | ||
| Q3 25 | 1.2% | 4.4% | ||
| Q2 25 | 0.9% | 4.1% | ||
| Q1 25 | -1.9% | 3.1% | ||
| Q4 24 | 7.2% | 4.2% | ||
| Q3 24 | 1.2% | 4.5% | ||
| Q2 24 | 5.4% | 4.0% |
| Q1 26 | — | $2.34 | ||
| Q4 25 | — | $3.22 | ||
| Q3 25 | $0.12 | $3.32 | ||
| Q2 25 | $0.08 | $3.13 | ||
| Q1 25 | $-0.16 | $2.27 | ||
| Q4 24 | $0.63 | $3.09 | ||
| Q3 24 | $0.11 | $3.24 | ||
| Q2 24 | $0.49 | $2.84 |
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 | $182.0M |
| Total DebtLower is stronger | $4.0B | — |
| Stockholders' EquityBook value | $4.7B | $2.9B |
| Total Assets | $10.5B | — |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $182.0M | ||
| Q4 25 | — | $198.0M | ||
| Q3 25 | $91.5M | $189.0M | ||
| Q2 25 | $94.6M | $180.0M | ||
| Q1 25 | $81.5M | $151.0M | ||
| Q4 24 | $76.0M | $154.0M | ||
| Q3 24 | $114.8M | $162.0M | ||
| Q2 24 | $121.6M | $164.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | $4.0B | $7.3B | ||
| Q2 25 | $3.9B | $7.0B | ||
| Q1 25 | $3.8B | $6.7B | ||
| Q4 24 | $3.9B | $6.7B | ||
| Q3 24 | $4.1B | $6.6B | ||
| Q2 24 | $4.3B | $6.5B |
| Q1 26 | — | $2.9B | ||
| Q4 25 | — | $3.1B | ||
| Q3 25 | $4.7B | $3.1B | ||
| Q2 25 | $4.6B | $3.1B | ||
| Q1 25 | $4.4B | $3.0B | ||
| Q4 24 | $4.4B | $3.1B | ||
| Q3 24 | $4.6B | $3.1B | ||
| Q2 24 | $4.5B | $3.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | $16.4B | ||
| Q3 25 | $10.5B | $16.5B | ||
| Q2 25 | $10.3B | $16.5B | ||
| Q1 25 | $10.0B | $16.4B | ||
| Q4 24 | $10.1B | $16.7B | ||
| Q3 24 | $10.6B | $16.5B | ||
| Q2 24 | $10.6B | $16.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.24× | ||
| Q3 25 | 0.86× | 2.35× | ||
| Q2 25 | 0.85× | 2.27× | ||
| Q1 25 | 0.86× | 2.21× | ||
| Q4 24 | 0.89× | 2.14× | ||
| Q3 24 | 0.91× | 2.17× | ||
| Q2 24 | 0.97× | 2.09× |
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 | $583.0M |
| Free Cash FlowOCF − Capex | — | $273.0M |
| FCF MarginFCF / Revenue | — | 8.7% |
| Capex IntensityCapex / Revenue | — | 13.7% |
| Cash ConversionOCF / Net Profit | 11.59× | 6.27× |
| TTM Free Cash FlowTrailing 4 quarters | — | $595.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $583.0M | ||
| Q4 25 | — | $749.0M | ||
| Q3 25 | $224.3M | $442.0M | ||
| Q2 25 | $145.8M | $752.0M | ||
| Q1 25 | $249.0M | $651.0M | ||
| Q4 24 | $154.4M | $558.0M | ||
| Q3 24 | $274.5M | $629.0M | ||
| Q2 24 | $146.5M | $552.0M |
| Q1 26 | — | $273.0M | ||
| Q4 25 | — | $344.0M | ||
| Q3 25 | — | $-85.0M | ||
| Q2 25 | — | $63.0M | ||
| Q1 25 | — | $137.0M | ||
| Q4 24 | — | $-201.0M | ||
| Q3 24 | — | $30.0M | ||
| Q2 24 | — | $-87.0M |
| Q1 26 | — | 8.7% | ||
| Q4 25 | — | 10.8% | ||
| Q3 25 | — | -2.7% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | — | -6.3% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | -2.7% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | — | 12.8% | ||
| Q3 25 | — | 16.6% | ||
| Q2 25 | — | 21.6% | ||
| Q1 25 | — | 16.4% | ||
| Q4 24 | — | 23.8% | ||
| Q3 24 | — | 18.9% | ||
| Q2 24 | — | 20.1% |
| Q1 26 | — | 6.27× | ||
| Q4 25 | — | 5.67× | ||
| Q3 25 | 11.59× | 3.20× | ||
| Q2 25 | 11.52× | 5.74× | ||
| Q1 25 | — | 6.64× | ||
| Q4 24 | 1.52× | 4.13× | ||
| Q3 24 | 16.19× | 4.43× | ||
| Q2 24 | 1.86× | 4.35× |
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% |
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
