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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Solventum (SOLV). Click either name above to swap in a different company.
Solventum is the larger business by last-quarter revenue ($2.0B vs $1.6B, roughly 1.3× DARLING INGREDIENTS INC.). DARLING INGREDIENTS INC. runs the higher net margin — 1.2% vs 0.6%, a 0.6% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs -3.0%). Over the past eight quarters, DARLING INGREDIENTS INC.'s revenue compounded faster (-1.6% CAGR vs -1.8%).
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.
Solventum Corporation is an American health care company that was spun off from 3M on April 1, 2024.
DAR vs SOLV — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.0B |
| Net Profit | $19.4M | $13.0M |
| Gross Margin | 24.7% | 54.7% |
| Operating Margin | 4.6% | 4.0% |
| Net Margin | 1.2% | 0.6% |
| Revenue YoY | 10.0% | -3.0% |
| Net Profit YoY | 14.2% | — |
| EPS (diluted) | $0.12 | $0.07 |
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 | — | $2.0B | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | $1.6B | $2.1B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.4B | $2.1B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.5B | $2.1B |
| Q1 26 | — | $13.0M | ||
| Q4 25 | — | $63.0M | ||
| Q3 25 | $19.4M | $1.3B | ||
| Q2 25 | $12.7M | $90.0M | ||
| Q1 25 | $-26.2M | $137.0M | ||
| Q4 24 | $101.9M | $31.0M | ||
| Q3 24 | $16.9M | $122.0M | ||
| Q2 24 | $78.9M | $89.0M |
| Q1 26 | — | 54.7% | ||
| Q4 25 | — | 51.4% | ||
| Q3 25 | 24.7% | 54.2% | ||
| Q2 25 | 23.3% | 54.4% | ||
| Q1 25 | 22.6% | 53.8% | ||
| Q4 24 | 23.5% | 53.9% | ||
| Q3 24 | 22.1% | 56.0% | ||
| Q2 24 | 22.5% | 54.6% |
| Q1 26 | — | 4.0% | ||
| Q4 25 | — | 6.3% | ||
| Q3 25 | 4.6% | 80.6% | ||
| Q2 25 | 5.1% | 9.9% | ||
| Q1 25 | 2.1% | 7.3% | ||
| Q4 24 | 8.6% | 6.6% | ||
| Q3 24 | 4.2% | 13.2% | ||
| Q2 24 | 10.2% | 11.7% |
| Q1 26 | — | 0.6% | ||
| Q4 25 | — | 3.2% | ||
| Q3 25 | 1.2% | 60.4% | ||
| Q2 25 | 0.9% | 4.2% | ||
| Q1 25 | -1.9% | 6.6% | ||
| Q4 24 | 7.2% | 1.5% | ||
| Q3 24 | 1.2% | 5.9% | ||
| Q2 24 | 5.4% | 4.3% |
| Q1 26 | — | $0.07 | ||
| Q4 25 | — | $0.37 | ||
| Q3 25 | $0.12 | $7.22 | ||
| Q2 25 | $0.08 | $0.51 | ||
| Q1 25 | $-0.16 | $0.78 | ||
| Q4 24 | $0.63 | $0.18 | ||
| Q3 24 | $0.11 | $0.70 | ||
| Q2 24 | $0.49 | $0.51 |
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 | $561.0M |
| Total DebtLower is stronger | $4.0B | $4.6B |
| Stockholders' EquityBook value | $4.7B | $5.0B |
| Total Assets | $10.5B | $14.1B |
| Debt / EquityLower = less leverage | 0.86× | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $561.0M | ||
| Q4 25 | — | $878.0M | ||
| Q3 25 | $91.5M | $1.6B | ||
| Q2 25 | $94.6M | $492.0M | ||
| Q1 25 | $81.5M | $534.0M | ||
| Q4 24 | $76.0M | $762.0M | ||
| Q3 24 | $114.8M | $772.0M | ||
| Q2 24 | $121.6M | $897.0M |
| Q1 26 | — | $4.6B | ||
| Q4 25 | — | $5.0B | ||
| Q3 25 | $4.0B | $5.1B | ||
| Q2 25 | $3.9B | $7.8B | ||
| Q1 25 | $3.8B | $7.9B | ||
| Q4 24 | $3.9B | $8.0B | ||
| Q3 24 | $4.1B | $8.1B | ||
| Q2 24 | $4.3B | $8.3B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | — | $5.0B | ||
| Q3 25 | $4.7B | $5.0B | ||
| Q2 25 | $4.6B | $3.6B | ||
| Q1 25 | $4.4B | $3.3B | ||
| Q4 24 | $4.4B | $3.0B | ||
| Q3 24 | $4.6B | $3.2B | ||
| Q2 24 | $4.5B | $2.9B |
| Q1 26 | — | $14.1B | ||
| Q4 25 | — | $14.3B | ||
| Q3 25 | $10.5B | $14.0B | ||
| Q2 25 | $10.3B | $15.1B | ||
| Q1 25 | $10.0B | $14.5B | ||
| Q4 24 | $10.1B | $14.5B | ||
| Q3 24 | $10.6B | $14.7B | ||
| Q2 24 | $10.6B | $14.6B |
| Q1 26 | — | 0.92× | ||
| Q4 25 | — | 1.00× | ||
| Q3 25 | 0.86× | 1.03× | ||
| Q2 25 | 0.85× | 2.14× | ||
| Q1 25 | 0.86× | 2.43× | ||
| Q4 24 | 0.89× | 2.71× | ||
| Q3 24 | 0.91× | 2.54× | ||
| Q2 24 | 0.97× | 2.90× |
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 | — |
| Free Cash FlowOCF − Capex | — | $-273.0M |
| FCF MarginFCF / Revenue | — | -13.6% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-203.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $95.0M | ||
| Q3 25 | $224.3M | $76.0M | ||
| Q2 25 | $145.8M | $169.0M | ||
| Q1 25 | $249.0M | $29.0M | ||
| Q4 24 | $154.4M | $219.0M | ||
| Q3 24 | $274.5M | $169.0M | ||
| Q2 24 | $146.5M | $355.0M |
| Q1 26 | — | $-273.0M | ||
| Q4 25 | — | $32.0M | ||
| Q3 25 | — | $-21.0M | ||
| Q2 25 | — | $59.0M | ||
| Q1 25 | — | $-80.0M | ||
| Q4 24 | — | $92.0M | ||
| Q3 24 | — | $76.0M | ||
| Q2 24 | — | $297.0M |
| Q1 26 | — | -13.6% | ||
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | -1.0% | ||
| Q2 25 | — | 2.7% | ||
| Q1 25 | — | -3.9% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 14.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | 11.59× | 0.06× | ||
| Q2 25 | 11.52× | 1.88× | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | 1.52× | 7.06× | ||
| Q3 24 | 16.19× | 1.39× | ||
| Q2 24 | 1.86× | 3.99× |
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% |
SOLV
| Infection Prevention and Surgical Solutions | $737.0M | 37% |
| Advanced Wound Care | $497.0M | 25% |
| Dental Solutions | $354.0M | 18% |
| Health Information Systems | $342.0M | 17% |
| All Other 4 | $76.0M | 4% |
