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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and WERNER ENTERPRISES INC (WERN). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $808.6M, roughly 1.9× WERNER ENTERPRISES INC). DARLING INGREDIENTS INC. runs the higher net margin — 1.2% vs -0.5%, a 1.8% gap on every dollar of revenue. On growth, WERNER ENTERPRISES INC posted the faster year-over-year revenue change (13.6% vs 10.0%). Over the past eight quarters, WERNER ENTERPRISES INC's revenue compounded faster (4.3% 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.
Werner Enterprises, Inc. is an American transportation and logistics company, serving the United States, Mexico and Canada. Werner Enterprises stated that it had 2023 revenues of $3.28 billion and over 14,000 employees and contractors.
DAR vs WERN — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $808.6M |
| Net Profit | $19.4M | $-4.3M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | 75.5% |
| Net Margin | 1.2% | -0.5% |
| Revenue YoY | 10.0% | 13.6% |
| Net Profit YoY | 14.2% | 57.8% |
| 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 | — | $808.6M | ||
| Q4 25 | — | $719.9M | ||
| Q3 25 | $1.6B | $752.2M | ||
| Q2 25 | $1.5B | $734.1M | ||
| Q1 25 | $1.4B | $693.4M | ||
| Q4 24 | $1.4B | $736.6M | ||
| Q3 24 | $1.4B | $726.3M | ||
| Q2 24 | $1.5B | $742.7M |
| Q1 26 | — | $-4.3M | ||
| Q4 25 | — | $-27.8M | ||
| Q3 25 | $19.4M | $-20.6M | ||
| Q2 25 | $12.7M | $44.1M | ||
| Q1 25 | $-26.2M | $-10.1M | ||
| Q4 24 | $101.9M | $11.9M | ||
| Q3 24 | $16.9M | $6.6M | ||
| Q2 24 | $78.9M | $9.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 24.7% | — | ||
| Q2 25 | 23.3% | — | ||
| Q1 25 | 22.6% | — | ||
| Q4 24 | 23.5% | — | ||
| Q3 24 | 22.1% | — | ||
| Q2 24 | 22.5% | — |
| Q1 26 | — | 75.5% | ||
| Q4 25 | — | -5.0% | ||
| Q3 25 | 4.6% | -1.7% | ||
| Q2 25 | 5.1% | 9.0% | ||
| Q1 25 | 2.1% | -0.8% | ||
| Q4 24 | 8.6% | 1.8% | ||
| Q3 24 | 4.2% | 2.4% | ||
| Q2 24 | 10.2% | 2.6% |
| Q1 26 | — | -0.5% | ||
| Q4 25 | — | -3.9% | ||
| Q3 25 | 1.2% | -2.7% | ||
| Q2 25 | 0.9% | 6.0% | ||
| Q1 25 | -1.9% | -1.5% | ||
| Q4 24 | 7.2% | 1.6% | ||
| Q3 24 | 1.2% | 0.9% | ||
| Q2 24 | 5.4% | 1.3% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | — | $-0.46 | ||
| Q3 25 | $0.12 | $-0.34 | ||
| Q2 25 | $0.08 | $0.72 | ||
| Q1 25 | $-0.16 | $-0.16 | ||
| Q4 24 | $0.63 | $0.19 | ||
| Q3 24 | $0.11 | $0.11 | ||
| Q2 24 | $0.49 | $0.15 |
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 | $61.5M |
| Total DebtLower is stronger | $4.0B | $878.2M |
| Stockholders' EquityBook value | $4.7B | $1.4B |
| Total Assets | $10.5B | $3.3B |
| Debt / EquityLower = less leverage | 0.86× | 0.65× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.5M | ||
| Q4 25 | — | $59.9M | ||
| Q3 25 | $91.5M | $51.0M | ||
| Q2 25 | $94.6M | $51.4M | ||
| Q1 25 | $81.5M | $52.0M | ||
| Q4 24 | $76.0M | $40.8M | ||
| Q3 24 | $114.8M | $54.7M | ||
| Q2 24 | $121.6M | $70.4M |
| Q1 26 | — | $878.2M | ||
| Q4 25 | — | $752.0M | ||
| Q3 25 | $4.0B | $725.0M | ||
| Q2 25 | $3.9B | $725.0M | ||
| Q1 25 | $3.8B | $640.0M | ||
| Q4 24 | $3.9B | $650.0M | ||
| Q3 24 | $4.1B | $690.0M | ||
| Q2 24 | $4.3B | $670.0M |
| Q1 26 | — | $1.4B | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | $4.7B | $1.4B | ||
| Q2 25 | $4.6B | $1.4B | ||
| Q1 25 | $4.4B | $1.4B | ||
| Q4 24 | $4.4B | $1.5B | ||
| Q3 24 | $4.6B | $1.4B | ||
| Q2 24 | $4.5B | $1.5B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | $10.5B | $3.0B | ||
| Q2 25 | $10.3B | $2.9B | ||
| Q1 25 | $10.0B | $3.0B | ||
| Q4 24 | $10.1B | $3.1B | ||
| Q3 24 | $10.6B | $3.1B | ||
| Q2 24 | $10.6B | $3.1B |
| Q1 26 | — | 0.65× | ||
| Q4 25 | — | 0.55× | ||
| Q3 25 | 0.86× | 0.52× | ||
| Q2 25 | 0.85× | 0.51× | ||
| Q1 25 | 0.86× | 0.45× | ||
| Q4 24 | 0.89× | 0.45× | ||
| Q3 24 | 0.91× | 0.48× | ||
| Q2 24 | 0.97× | 0.46× |
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 | — | 0.2% |
| Cash ConversionOCF / Net Profit | 11.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $62.3M | ||
| Q3 25 | $224.3M | $44.1M | ||
| Q2 25 | $145.8M | $46.0M | ||
| Q1 25 | $249.0M | $29.4M | ||
| Q4 24 | $154.4M | $71.0M | ||
| Q3 24 | $274.5M | $61.0M | ||
| Q2 24 | $146.5M | $109.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-23.5M | ||
| Q3 25 | — | $-8.6M | ||
| Q2 25 | — | $-42.3M | ||
| Q1 25 | — | $5.9M | ||
| Q4 24 | — | $-9.8M | ||
| Q3 24 | — | $-73.4M | ||
| Q2 24 | — | $-31.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | -3.3% | ||
| Q3 25 | — | -1.1% | ||
| Q2 25 | — | -5.8% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | -1.3% | ||
| Q3 24 | — | -10.1% | ||
| Q2 24 | — | -4.2% |
| Q1 26 | — | 0.2% | ||
| Q4 25 | — | 11.9% | ||
| Q3 25 | — | 7.0% | ||
| Q2 25 | — | 12.0% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 11.0% | ||
| Q3 24 | — | 18.5% | ||
| Q2 24 | — | 18.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 11.59× | — | ||
| Q2 25 | 11.52× | 1.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | 5.97× | ||
| Q3 24 | 16.19× | 9.30× | ||
| Q2 24 | 1.86× | 11.52× |
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% |
WERN
Segment breakdown not available.
