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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Sandisk Corp (SNDK). Click either name above to swap in a different company.
Sandisk Corp is the larger business by last-quarter revenue ($3.0B vs $1.6B, roughly 1.9× DARLING INGREDIENTS INC.). Sandisk Corp runs the higher net margin — 26.5% vs 1.2%, a 25.3% gap on every dollar of revenue. On growth, Sandisk Corp posted the faster year-over-year revenue change (78.5% vs 10.0%).
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.
Sandisk Corporation is an American multinational computer technology company based in Milpitas, California, that designs and manufactures flash memory products, including memory cards, USB flash drives, and solid-state drives. It was founded in 1988 as SunDisk by Eli Harari, Sanjay Mehrotra, and Jack Yuan. The name is a portmanteau of the founder’s name Sanjay and disk.
DAR vs SNDK — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $3.0B |
| Net Profit | $19.4M | $803.0M |
| Gross Margin | 24.7% | 50.9% |
| Operating Margin | 4.6% | 35.2% |
| Net Margin | 1.2% | 26.5% |
| Revenue YoY | 10.0% | 78.5% |
| Net Profit YoY | 14.2% | 141.5% |
| EPS (diluted) | $0.12 | $5.15 |
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 | — | $3.0B | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $1.4B | $1.9B | ||
| Q3 24 | $1.4B | $1.9B | ||
| Q2 24 | $1.5B | — |
| Q1 26 | — | $803.0M | ||
| Q4 25 | — | $112.0M | ||
| Q3 25 | $19.4M | — | ||
| Q2 25 | $12.7M | $-23.0M | ||
| Q1 25 | $-26.2M | $-1.9B | ||
| Q4 24 | $101.9M | $104.0M | ||
| Q3 24 | $16.9M | $211.0M | ||
| Q2 24 | $78.9M | — |
| Q1 26 | — | 50.9% | ||
| Q4 25 | — | 29.8% | ||
| Q3 25 | 24.7% | — | ||
| Q2 25 | 23.3% | 26.2% | ||
| Q1 25 | 22.6% | 22.5% | ||
| Q4 24 | 23.5% | 32.3% | ||
| Q3 24 | 22.1% | 38.6% | ||
| Q2 24 | 22.5% | — |
| Q1 26 | — | 35.2% | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 5.1% | 0.9% | ||
| Q1 25 | 2.1% | -111.0% | ||
| Q4 24 | 8.6% | 10.4% | ||
| Q3 24 | 4.2% | 15.5% | ||
| Q2 24 | 10.2% | — |
| Q1 26 | — | 26.5% | ||
| Q4 25 | — | 4.9% | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 0.9% | -1.2% | ||
| Q1 25 | -1.9% | -114.0% | ||
| Q4 24 | 7.2% | 5.5% | ||
| Q3 24 | 1.2% | 11.2% | ||
| Q2 24 | 5.4% | — |
| Q1 26 | — | $5.15 | ||
| Q4 25 | — | $0.75 | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $0.08 | $-0.17 | ||
| Q1 25 | $-0.16 | $-13.33 | ||
| Q4 24 | $0.63 | $0.72 | ||
| Q3 24 | $0.11 | $1.46 | ||
| Q2 24 | $0.49 | — |
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 | $1.5B |
| Total DebtLower is stronger | $4.0B | $603.0M |
| Stockholders' EquityBook value | $4.7B | $10.2B |
| Total Assets | $10.5B | $13.0B |
| Debt / EquityLower = less leverage | 0.86× | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.5B | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | $91.5M | — | ||
| Q2 25 | $94.6M | $1.5B | ||
| Q1 25 | $81.5M | $1.5B | ||
| Q4 24 | $76.0M | $804.0M | ||
| Q3 24 | $114.8M | — | ||
| Q2 24 | $121.6M | — |
| Q1 26 | — | $603.0M | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.9B | $1.8B | ||
| Q1 25 | $3.8B | $1.9B | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.3B | — |
| Q1 26 | — | $10.2B | ||
| Q4 25 | — | $9.4B | ||
| Q3 25 | $4.7B | — | ||
| Q2 25 | $4.6B | $9.2B | ||
| Q1 25 | $4.4B | $9.2B | ||
| Q4 24 | $4.4B | $12.0B | ||
| Q3 24 | $4.6B | $12.1B | ||
| Q2 24 | $4.5B | — |
| Q1 26 | — | $13.0B | ||
| Q4 25 | — | $12.7B | ||
| Q3 25 | $10.5B | — | ||
| Q2 25 | $10.3B | $13.0B | ||
| Q1 25 | $10.0B | $13.0B | ||
| Q4 24 | $10.1B | $14.2B | ||
| Q3 24 | $10.6B | — | ||
| Q2 24 | $10.6B | — |
| Q1 26 | — | 0.06× | ||
| Q4 25 | — | 0.14× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | 0.20× | ||
| Q1 25 | 0.86× | 0.21× | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 0.97× | — |
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 | $1.0B |
| Free Cash FlowOCF − Capex | — | $980.0M |
| FCF MarginFCF / Revenue | — | 32.4% |
| Capex IntensityCapex / Revenue | — | 1.3% |
| Cash ConversionOCF / Net Profit | 11.59× | 1.27× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.0B | ||
| Q4 25 | — | $488.0M | ||
| Q3 25 | $224.3M | — | ||
| Q2 25 | $145.8M | — | ||
| Q1 25 | $249.0M | $26.0M | ||
| Q4 24 | $154.4M | $95.0M | ||
| Q3 24 | $274.5M | $-131.0M | ||
| Q2 24 | $146.5M | — |
| Q1 26 | — | $980.0M | ||
| Q4 25 | — | $438.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-18.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $-198.0M | ||
| Q2 24 | — | — |
| Q1 26 | — | 32.4% | ||
| Q4 25 | — | 19.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -1.1% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | -10.5% | ||
| Q2 24 | — | — |
| Q1 26 | — | 1.3% | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | — |
| Q1 26 | — | 1.27× | ||
| Q4 25 | — | 4.36× | ||
| Q3 25 | 11.59× | — | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | 0.91× | ||
| Q3 24 | 16.19× | -0.62× | ||
| Q2 24 | 1.86× | — |
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% |
SNDK
| Edge | $1.7B | 55% |
| Consumer | $907.0M | 30% |
| Datacenter | $440.0M | 15% |
