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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and WEC Energy Group (WEC). Click either name above to swap in a different company.
WEC Energy Group is the larger business by last-quarter revenue ($2.5B vs $1.6B, roughly 1.6× DARLING INGREDIENTS INC.). WEC Energy Group runs the higher net margin — 12.5% vs 1.2%, a 11.2% gap on every dollar of revenue. On growth, WEC Energy Group posted the faster year-over-year revenue change (11.1% vs 10.0%). Over the past eight quarters, DARLING INGREDIENTS INC.'s revenue compounded faster (-1.6% CAGR vs -2.7%).
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.
WEC Energy Group is an American energy company based in Milwaukee, Wisconsin. It provides electricity and natural gas to 4.4 million customers across four states.
DAR vs WEC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.5B |
| Net Profit | $19.4M | $316.8M |
| Gross Margin | 24.7% | 63.7% |
| Operating Margin | 4.6% | 17.9% |
| Net Margin | 1.2% | 12.5% |
| Revenue YoY | 10.0% | 11.1% |
| Net Profit YoY | 14.2% | -30.1% |
| EPS (diluted) | $0.12 | — |
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 | — | $2.5B | ||
| Q3 25 | $1.6B | $2.1B | ||
| Q2 25 | $1.5B | $2.0B | ||
| Q1 25 | $1.4B | $3.1B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | $1.4B | $1.9B | ||
| Q2 24 | $1.5B | $1.8B | ||
| Q1 24 | $1.4B | $2.7B |
| Q4 25 | — | $316.8M | ||
| Q3 25 | $19.4M | $270.2M | ||
| Q2 25 | $12.7M | $243.0M | ||
| Q1 25 | $-26.2M | $725.5M | ||
| Q4 24 | $101.9M | $453.1M | ||
| Q3 24 | $16.9M | $238.6M | ||
| Q2 24 | $78.9M | $210.0M | ||
| Q1 24 | $81.2M | $622.6M |
| Q4 25 | — | 63.7% | ||
| Q3 25 | 24.7% | 71.1% | ||
| Q2 25 | 23.3% | 71.6% | ||
| Q1 25 | 22.6% | 63.0% | ||
| Q4 24 | 23.5% | 67.7% | ||
| Q3 24 | 22.1% | 72.1% | ||
| Q2 24 | 22.5% | 73.5% | ||
| Q1 24 | 21.4% | 65.4% |
| Q4 25 | — | 17.9% | ||
| Q3 25 | 4.6% | 21.4% | ||
| Q2 25 | 5.1% | 20.1% | ||
| Q1 25 | 2.1% | 29.8% | ||
| Q4 24 | 8.6% | 25.9% | ||
| Q3 24 | 4.2% | 20.6% | ||
| Q2 24 | 10.2% | 20.6% | ||
| Q1 24 | 9.7% | 30.3% |
| Q4 25 | — | 12.5% | ||
| Q3 25 | 1.2% | 12.8% | ||
| Q2 25 | 0.9% | 12.1% | ||
| Q1 25 | -1.9% | 23.0% | ||
| Q4 24 | 7.2% | 19.8% | ||
| Q3 24 | 1.2% | 12.8% | ||
| Q2 24 | 5.4% | 11.9% | ||
| Q1 24 | 5.7% | 23.2% |
| Q4 25 | — | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $0.08 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $0.63 | — | ||
| Q3 24 | $0.11 | — | ||
| Q2 24 | $0.49 | — | ||
| Q1 24 | $0.50 | — |
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 | $27.6M |
| Total DebtLower is stronger | $4.0B | $20.0B |
| Stockholders' EquityBook value | $4.7B | $14.1B |
| Total Assets | $10.5B | $51.5B |
| Debt / EquityLower = less leverage | 0.86× | 1.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $27.6M | ||
| Q3 25 | $91.5M | $51.1M | ||
| Q2 25 | $94.6M | $23.0M | ||
| Q1 25 | $81.5M | $82.2M | ||
| Q4 24 | $76.0M | $9.8M | ||
| Q3 24 | $114.8M | $322.5M | ||
| Q2 24 | $121.6M | $224.0M | ||
| Q1 24 | $145.5M | $38.9M |
| Q4 25 | — | $20.0B | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | $18.9B | ||
| Q3 24 | $4.1B | $16.9B | ||
| Q2 24 | $4.3B | $16.9B | ||
| Q1 24 | $4.4B | $15.4B |
| Q4 25 | — | $14.1B | ||
| Q3 25 | $4.7B | $14.0B | ||
| Q2 25 | $4.6B | $13.7B | ||
| Q1 25 | $4.4B | $13.4B | ||
| Q4 24 | $4.4B | $12.8B | ||
| Q3 24 | $4.6B | $12.4B | ||
| Q2 24 | $4.5B | $12.4B | ||
| Q1 24 | $4.6B | $12.4B |
| Q4 25 | — | $51.5B | ||
| Q3 25 | $10.5B | $49.8B | ||
| Q2 25 | $10.3B | $48.5B | ||
| Q1 25 | $10.0B | $48.2B | ||
| Q4 24 | $10.1B | $47.4B | ||
| Q3 24 | $10.6B | $45.2B | ||
| Q2 24 | $10.6B | $44.6B | ||
| Q1 24 | $10.9B | $43.9B |
| Q4 25 | — | 1.42× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | 1.48× | ||
| Q3 24 | 0.91× | 1.36× | ||
| Q2 24 | 0.97× | 1.36× | ||
| Q1 24 | 0.95× | 1.24× |
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 | $424.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 11.59× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $424.6M | ||
| Q3 25 | $224.3M | $938.9M | ||
| Q2 25 | $145.8M | $853.3M | ||
| Q1 25 | $249.0M | $1.2B | ||
| Q4 24 | $154.4M | $581.8M | ||
| Q3 24 | $274.5M | $729.0M | ||
| Q2 24 | $146.5M | $1.0B | ||
| Q1 24 | $263.9M | $863.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-625.7M | ||
| Q2 25 | — | $23.9M | ||
| Q1 25 | — | $461.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-67.3M | ||
| Q2 24 | — | $343.5M | ||
| Q1 24 | — | $419.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | -29.7% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 14.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -3.6% | ||
| Q2 24 | — | 19.4% | ||
| Q1 24 | — | 15.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 41.3% | ||
| Q1 25 | — | 22.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 42.7% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 16.6% |
| Q4 25 | — | 1.34× | ||
| Q3 25 | 11.59× | 3.47× | ||
| Q2 25 | 11.52× | 3.51× | ||
| Q1 25 | — | 1.60× | ||
| Q4 24 | 1.52× | 1.28× | ||
| Q3 24 | 16.19× | 3.06× | ||
| Q2 24 | 1.86× | 4.94× | ||
| Q1 24 | 3.25× | 1.39× |
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% |
WEC
| Wisconsin | $1.9B | 73% |
| Illinois | $441.2M | 17% |
| Other States | $165.1M | 7% |
| External Revenues | $74.0M | 3% |
| Otheroperatingrevenues | $8.0M | 0% |
