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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and VALMONT INDUSTRIES INC (VMI). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $1.0B, roughly 1.5× VALMONT INDUSTRIES INC). VALMONT INDUSTRIES INC runs the higher net margin — 10.5% vs 1.2%, a 9.3% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 6.2%). Over the past eight quarters, VALMONT INDUSTRIES INC's revenue compounded faster (-0.5% 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.
Valmont Industries, Inc. is a large, publicly held American manufacturer of Valley center pivot and linear irrigation equipment, windmill support structures, lighting and traffic poles and steel utility poles.
DAR vs VMI — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.0B |
| Net Profit | $19.4M | $108.0M |
| Gross Margin | 24.7% | 30.8% |
| Operating Margin | 4.6% | 15.1% |
| Net Margin | 1.2% | 10.5% |
| Revenue YoY | 10.0% | 6.2% |
| Net Profit YoY | 14.2% | 23.8% |
| EPS (diluted) | $0.12 | $5.51 |
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 | — | $1.0B | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $969.3M | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.5B | $1.0B |
| Q1 26 | — | $108.0M | ||
| Q4 25 | — | $168.0M | ||
| Q3 25 | $19.4M | $99.0M | ||
| Q2 25 | $12.7M | $-4.0M | ||
| Q1 25 | $-26.2M | $87.3M | ||
| Q4 24 | $101.9M | $77.7M | ||
| Q3 24 | $16.9M | $83.1M | ||
| Q2 24 | $78.9M | $99.7M |
| Q1 26 | — | 30.8% | ||
| Q4 25 | — | 29.8% | ||
| Q3 25 | 24.7% | 30.4% | ||
| Q2 25 | 23.3% | 30.6% | ||
| Q1 25 | 22.6% | 30.0% | ||
| Q4 24 | 23.5% | 30.2% | ||
| Q3 24 | 22.1% | 29.6% | ||
| Q2 24 | 22.5% | 30.8% |
| Q1 26 | — | 15.1% | ||
| Q4 25 | — | 11.2% | ||
| Q3 25 | 4.6% | 13.5% | ||
| Q2 25 | 5.1% | 2.8% | ||
| Q1 25 | 2.1% | 13.2% | ||
| Q4 24 | 8.6% | 11.6% | ||
| Q3 24 | 4.2% | 12.3% | ||
| Q2 24 | 10.2% | 14.2% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | — | 16.2% | ||
| Q3 25 | 1.2% | 9.5% | ||
| Q2 25 | 0.9% | -0.4% | ||
| Q1 25 | -1.9% | 9.0% | ||
| Q4 24 | 7.2% | 7.5% | ||
| Q3 24 | 1.2% | 8.1% | ||
| Q2 24 | 5.4% | 9.6% |
| Q1 26 | — | $5.51 | ||
| Q4 25 | — | $9.02 | ||
| Q3 25 | $0.12 | $4.98 | ||
| Q2 25 | $0.08 | $-1.53 | ||
| Q1 25 | $-0.16 | $4.32 | ||
| Q4 24 | $0.63 | $3.85 | ||
| Q3 24 | $0.11 | $4.11 | ||
| Q2 24 | $0.49 | $4.91 |
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 | $160.2M |
| Total DebtLower is stronger | $4.0B | — |
| Stockholders' EquityBook value | $4.7B | $1.7B |
| Total Assets | $10.5B | $3.4B |
| Debt / EquityLower = less leverage | 0.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $160.2M | ||
| Q4 25 | — | $187.1M | ||
| Q3 25 | $91.5M | $226.1M | ||
| Q2 25 | $94.6M | $208.5M | ||
| Q1 25 | $81.5M | $184.4M | ||
| Q4 24 | $76.0M | $164.3M | ||
| Q3 24 | $114.8M | $200.5M | ||
| Q2 24 | $121.6M | $163.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $795.7M | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | $730.6M | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.3B | — |
| Q1 26 | — | $1.7B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $4.7B | $1.6B | ||
| Q2 25 | $4.6B | $1.5B | ||
| Q1 25 | $4.4B | $1.6B | ||
| Q4 24 | $4.4B | $1.5B | ||
| Q3 24 | $4.6B | $1.5B | ||
| Q2 24 | $4.5B | $1.5B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | — | $3.4B | ||
| Q3 25 | $10.5B | $3.4B | ||
| Q2 25 | $10.3B | $3.3B | ||
| Q1 25 | $10.0B | $3.4B | ||
| Q4 24 | $10.1B | $3.3B | ||
| Q3 24 | $10.6B | $3.5B | ||
| Q2 24 | $10.6B | $3.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.49× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | 0.47× | ||
| 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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $111.2M | ||
| Q3 25 | $224.3M | $112.5M | ||
| Q2 25 | $145.8M | $167.6M | ||
| Q1 25 | $249.0M | $65.1M | ||
| Q4 24 | $154.4M | $193.4M | ||
| Q3 24 | $274.5M | $225.1M | ||
| Q2 24 | $146.5M | $130.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $70.4M | ||
| Q3 25 | — | $70.6M | ||
| Q2 25 | — | $135.6M | ||
| Q1 25 | — | $34.8M | ||
| Q4 24 | — | $167.8M | ||
| Q3 24 | — | $204.6M | ||
| Q2 24 | — | $112.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | 16.2% | ||
| Q3 24 | — | 20.1% | ||
| Q2 24 | — | 10.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.9% | ||
| Q3 25 | — | 4.0% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | 11.59× | 1.14× | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 1.52× | 2.49× | ||
| Q3 24 | 16.19× | 2.71× | ||
| Q2 24 | 1.86× | 1.31× |
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% |
VMI
| Infrastructure | $803.2M | 78% |
| Agriculture | $226.0M | 22% |
