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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Synopsys (SNPS). Click either name above to swap in a different company.
Synopsys is the larger business by last-quarter revenue ($2.3B vs $1.6B, roughly 1.4× DARLING INGREDIENTS INC.). Synopsys runs the higher net margin — 19.9% vs 1.2%, a 18.7% gap on every dollar of revenue. On growth, Synopsys posted the faster year-over-year revenue change (50.6% vs 10.0%). Over the past eight quarters, Synopsys's revenue compounded faster (16.9% 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.
Synopsys, Inc. is an American multinational electronic design automation (EDA) company headquartered in Sunnyvale, California, that focuses on design and verification of silicon chips, electronic system-level design and verification, and reusable components. Synopsys supplies tools and services to the semiconductor design and manufacturing industry.
DAR vs SNPS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.3B |
| Net Profit | $19.4M | $448.7M |
| Gross Margin | 24.7% | 71.0% |
| Operating Margin | 4.6% | 5.4% |
| Net Margin | 1.2% | 19.9% |
| Revenue YoY | 10.0% | 50.6% |
| Net Profit YoY | 14.2% | -59.7% |
| EPS (diluted) | $0.12 | $2.44 |
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 | — | $2.3B | ||
| Q3 25 | $1.6B | $1.7B | ||
| Q2 25 | $1.5B | $1.6B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.4B | $1.5B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.5B | $1.5B | ||
| Q1 24 | $1.4B | $1.6B |
| Q4 25 | — | $448.7M | ||
| Q3 25 | $19.4M | $242.5M | ||
| Q2 25 | $12.7M | $345.3M | ||
| Q1 25 | $-26.2M | $295.7M | ||
| Q4 24 | $101.9M | $1.1B | ||
| Q3 24 | $16.9M | $408.1M | ||
| Q2 24 | $78.9M | $292.1M | ||
| Q1 24 | $81.2M | $449.1M |
| Q4 25 | — | 71.0% | ||
| Q3 25 | 24.7% | 78.1% | ||
| Q2 25 | 23.3% | 80.2% | ||
| Q1 25 | 22.6% | 81.4% | ||
| Q4 24 | 23.5% | 78.3% | ||
| Q3 24 | 22.1% | 80.9% | ||
| Q2 24 | 22.5% | 79.4% | ||
| Q1 24 | 21.4% | 80.0% |
| Q4 25 | — | 5.4% | ||
| Q3 25 | 4.6% | 9.5% | ||
| Q2 25 | 5.1% | 23.5% | ||
| Q1 25 | 2.1% | 17.3% | ||
| Q4 24 | 8.6% | 20.3% | ||
| Q3 24 | 4.2% | 23.6% | ||
| Q2 24 | 10.2% | 22.8% | ||
| Q1 24 | 9.7% | 21.8% |
| Q4 25 | — | 19.9% | ||
| Q3 25 | 1.2% | 13.9% | ||
| Q2 25 | 0.9% | 21.5% | ||
| Q1 25 | -1.9% | 20.3% | ||
| Q4 24 | 7.2% | 74.4% | ||
| Q3 24 | 1.2% | 26.7% | ||
| Q2 24 | 5.4% | 20.1% | ||
| Q1 24 | 5.7% | 27.2% |
| Q4 25 | — | $2.44 | ||
| Q3 25 | $0.12 | $1.50 | ||
| Q2 25 | $0.08 | $2.21 | ||
| Q1 25 | $-0.16 | $1.89 | ||
| Q4 24 | $0.63 | $7.13 | ||
| Q3 24 | $0.11 | $2.61 | ||
| Q2 24 | $0.49 | $1.88 | ||
| Q1 24 | $0.50 | $2.89 |
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 | $3.0B |
| Total DebtLower is stronger | $4.0B | $13.5B |
| Stockholders' EquityBook value | $4.7B | $28.3B |
| Total Assets | $10.5B | $48.2B |
| Debt / EquityLower = less leverage | 0.86× | 0.48× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $3.0B | ||
| Q3 25 | $91.5M | $2.6B | ||
| Q2 25 | $94.6M | $14.3B | ||
| Q1 25 | $81.5M | $3.8B | ||
| Q4 24 | $76.0M | $4.1B | ||
| Q3 24 | $114.8M | $2.0B | ||
| Q2 24 | $121.6M | $1.7B | ||
| Q1 24 | $145.5M | $1.3B |
| Q4 25 | — | $13.5B | ||
| Q3 25 | $4.0B | $14.3B | ||
| Q2 25 | $3.9B | $10.1B | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
| Q4 25 | — | $28.3B | ||
| Q3 25 | $4.7B | $27.6B | ||
| Q2 25 | $4.6B | $9.9B | ||
| Q1 25 | $4.4B | $9.3B | ||
| Q4 24 | $4.4B | $9.0B | ||
| Q3 24 | $4.6B | $7.7B | ||
| Q2 24 | $4.5B | $7.2B | ||
| Q1 24 | $4.6B | $6.7B |
| Q4 25 | — | $48.2B | ||
| Q3 25 | $10.5B | $48.2B | ||
| Q2 25 | $10.3B | $23.8B | ||
| Q1 25 | $10.0B | $13.0B | ||
| Q4 24 | $10.1B | $13.1B | ||
| Q3 24 | $10.6B | $11.6B | ||
| Q2 24 | $10.6B | $11.0B | ||
| Q1 24 | $10.9B | $10.6B |
| Q4 25 | — | 0.48× | ||
| Q3 25 | 0.86× | 0.52× | ||
| Q2 25 | 0.85× | 1.01× | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | 0.95× | — |
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 | $639.7M |
| Free Cash FlowOCF − Capex | — | $605.2M |
| FCF MarginFCF / Revenue | — | 26.8% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 11.59× | 1.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $639.7M | ||
| Q3 25 | $224.3M | $671.0M | ||
| Q2 25 | $145.8M | $275.4M | ||
| Q1 25 | $249.0M | $-67.5M | ||
| Q4 24 | $154.4M | $562.8M | ||
| Q3 24 | $274.5M | $455.4M | ||
| Q2 24 | $146.5M | $476.6M | ||
| Q1 24 | $263.9M | $-87.8M |
| Q4 25 | — | $605.2M | ||
| Q3 25 | — | $632.4M | ||
| Q2 25 | — | $219.8M | ||
| Q1 25 | — | $-108.2M | ||
| Q4 24 | — | $558.4M | ||
| Q3 24 | — | $415.4M | ||
| Q2 24 | — | $438.2M | ||
| Q1 24 | — | $-128.2M |
| Q4 25 | — | 26.8% | ||
| Q3 25 | — | 36.3% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | — | -7.4% | ||
| Q4 24 | — | 37.3% | ||
| Q3 24 | — | 27.2% | ||
| Q2 24 | — | 30.1% | ||
| Q1 24 | — | -7.8% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 3.5% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 2.4% |
| Q4 25 | — | 1.43× | ||
| Q3 25 | 11.59× | 2.77× | ||
| Q2 25 | 11.52× | 0.80× | ||
| Q1 25 | — | -0.23× | ||
| Q4 24 | 1.52× | 0.51× | ||
| Q3 24 | 16.19× | 1.12× | ||
| Q2 24 | 1.86× | 1.63× | ||
| Q1 24 | 3.25× | -0.20× |
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% |
SNPS
| License And Maintenance | $940.7M | 42% |
| Other | $640.0M | 28% |
| Design IP Segment | $407.1M | 18% |
| KR | $236.9M | 11% |
| Sales Based Royalties | $30.1M | 1% |
