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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and Vertiv Holdings Co (VRT). Click either name above to swap in a different company.
Vertiv Holdings Co is the larger business by last-quarter revenue ($2.6B vs $1.6B, roughly 1.7× DARLING INGREDIENTS INC.). Vertiv Holdings Co runs the higher net margin — 14.7% vs 1.2%, a 13.5% gap on every dollar of revenue. On growth, Vertiv Holdings Co posted the faster year-over-year revenue change (30.1% vs 10.0%). Over the past eight quarters, Vertiv Holdings Co's revenue compounded faster (16.5% 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.
Vertiv is an American multinational provider of critical infrastructure and services for data centers, communication networks, and commercial and industrial environments.
DAR vs VRT — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.6B |
| Net Profit | $19.4M | $390.1M |
| Gross Margin | 24.7% | 37.7% |
| Operating Margin | 4.6% | — |
| Net Margin | 1.2% | 14.7% |
| Revenue YoY | 10.0% | 30.1% |
| Net Profit YoY | 14.2% | — |
| EPS (diluted) | $0.12 | $0.99 |
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 | — | $2.6B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | $1.6B | $2.7B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.5B | $2.0B |
| Q1 26 | — | $390.1M | ||
| Q4 25 | — | $445.6M | ||
| Q3 25 | $19.4M | $398.5M | ||
| Q2 25 | $12.7M | $324.2M | ||
| Q1 25 | $-26.2M | $164.5M | ||
| Q4 24 | $101.9M | $147.0M | ||
| Q3 24 | $16.9M | $176.6M | ||
| Q2 24 | $78.9M | $178.1M |
| Q1 26 | — | 37.7% | ||
| Q4 25 | — | 38.9% | ||
| Q3 25 | 24.7% | 37.8% | ||
| Q2 25 | 23.3% | 34.0% | ||
| Q1 25 | 22.6% | 33.7% | ||
| Q4 24 | 23.5% | 37.1% | ||
| Q3 24 | 22.1% | 36.5% | ||
| Q2 24 | 22.5% | 38.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 20.1% | ||
| Q3 25 | 4.6% | 19.3% | ||
| Q2 25 | 5.1% | 16.8% | ||
| Q1 25 | 2.1% | 14.3% | ||
| Q4 24 | 8.6% | 19.5% | ||
| Q3 24 | 4.2% | 17.9% | ||
| Q2 24 | 10.2% | 17.2% |
| Q1 26 | — | 14.7% | ||
| Q4 25 | — | 15.5% | ||
| Q3 25 | 1.2% | 14.9% | ||
| Q2 25 | 0.9% | 12.3% | ||
| Q1 25 | -1.9% | 8.1% | ||
| Q4 24 | 7.2% | 6.3% | ||
| Q3 24 | 1.2% | 8.5% | ||
| Q2 24 | 5.4% | 9.1% |
| Q1 26 | — | $0.99 | ||
| Q4 25 | — | $1.14 | ||
| Q3 25 | $0.12 | $1.02 | ||
| Q2 25 | $0.08 | $0.83 | ||
| Q1 25 | $-0.16 | $0.42 | ||
| Q4 24 | $0.63 | $0.38 | ||
| Q3 24 | $0.11 | $0.46 | ||
| Q2 24 | $0.49 | $0.46 |
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 | $2.5B |
| Total DebtLower is stronger | $4.0B | $0 |
| Stockholders' EquityBook value | $4.7B | $4.2B |
| Total Assets | $10.5B | $13.4B |
| Debt / EquityLower = less leverage | 0.86× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.5B | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | $91.5M | $1.4B | ||
| Q2 25 | $94.6M | $1.6B | ||
| Q1 25 | $81.5M | $1.5B | ||
| Q4 24 | $76.0M | $1.2B | ||
| Q3 24 | $114.8M | $908.7M | ||
| Q2 24 | $121.6M | $579.7M |
| Q1 26 | — | $0 | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | $4.0B | $2.9B | ||
| Q2 25 | $3.9B | $2.9B | ||
| Q1 25 | $3.8B | $2.9B | ||
| Q4 24 | $3.9B | $2.9B | ||
| Q3 24 | $4.1B | $2.9B | ||
| Q2 24 | $4.3B | $2.9B |
| Q1 26 | — | $4.2B | ||
| Q4 25 | — | $3.9B | ||
| Q3 25 | $4.7B | $3.5B | ||
| Q2 25 | $4.6B | $3.1B | ||
| Q1 25 | $4.4B | $2.7B | ||
| Q4 24 | $4.4B | $2.4B | ||
| Q3 24 | $4.6B | $1.8B | ||
| Q2 24 | $4.5B | $1.5B |
| Q1 26 | — | $13.4B | ||
| Q4 25 | — | $12.2B | ||
| Q3 25 | $10.5B | $10.8B | ||
| Q2 25 | $10.3B | $10.4B | ||
| Q1 25 | $10.0B | $9.5B | ||
| Q4 24 | $10.1B | $9.1B | ||
| Q3 24 | $10.6B | $8.9B | ||
| Q2 24 | $10.6B | $8.1B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.74× | ||
| Q3 25 | 0.86× | 0.83× | ||
| Q2 25 | 0.85× | 0.93× | ||
| Q1 25 | 0.86× | 1.10× | ||
| Q4 24 | 0.89× | 1.20× | ||
| Q3 24 | 0.91× | 1.62× | ||
| Q2 24 | 0.97× | 1.91× |
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 | — | $652.8M |
| FCF MarginFCF / Revenue | — | 24.6% |
| Capex IntensityCapex / Revenue | — | 4.2% |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $978.9M | ||
| Q3 25 | $224.3M | $508.7M | ||
| Q2 25 | $145.8M | $322.9M | ||
| Q1 25 | $249.0M | $303.3M | ||
| Q4 24 | $154.4M | $425.2M | ||
| Q3 24 | $274.5M | $378.2M | ||
| Q2 24 | $146.5M | $378.4M |
| Q1 26 | — | $652.8M | ||
| Q4 25 | — | $885.6M | ||
| Q3 25 | — | $463.5M | ||
| Q2 25 | — | $277.9M | ||
| Q1 25 | — | $266.8M | ||
| Q4 24 | — | $364.5M | ||
| Q3 24 | — | $341.8M | ||
| Q2 24 | — | $344.3M |
| Q1 26 | — | 24.6% | ||
| Q4 25 | — | 30.8% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 10.5% | ||
| Q1 25 | — | 13.1% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | — | 16.5% | ||
| Q2 24 | — | 17.6% |
| Q1 26 | — | 4.2% | ||
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 1.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.20× | ||
| Q3 25 | 11.59× | 1.28× | ||
| Q2 25 | 11.52× | 1.00× | ||
| Q1 25 | — | 1.84× | ||
| Q4 24 | 1.52× | 2.89× | ||
| Q3 24 | 16.19× | 2.14× | ||
| Q2 24 | 1.86× | 2.12× |
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% |
VRT
Segment breakdown not available.
