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Side-by-side financial comparison of DARLING INGREDIENTS INC. (DAR) and ZIONS BANCORPORATION, NATIONAL ASSOCIATION (ZION). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $891.0M, roughly 1.8× ZIONS BANCORPORATION, NATIONAL ASSOCIATION). ZIONS BANCORPORATION, NATIONAL ASSOCIATION runs the higher net margin — 29.5% vs 1.2%, a 28.3% gap on every dollar of revenue. On growth, DARLING INGREDIENTS INC. posted the faster year-over-year revenue change (10.0% vs 8.7%). Over the past eight quarters, ZIONS BANCORPORATION, NATIONAL ASSOCIATION's revenue compounded faster (9.6% 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.
Zions Bancorporation is an American national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than as a bank holding company and does business under the following seven brands: Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
DAR vs ZION — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $891.0M |
| Net Profit | $19.4M | $263.0M |
| Gross Margin | 24.7% | — |
| Operating Margin | 4.6% | — |
| Net Margin | 1.2% | 29.5% |
| Revenue YoY | 10.0% | 8.7% |
| Net Profit YoY | 14.2% | 21.8% |
| EPS (diluted) | $0.12 | $1.77 |
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 | — | $891.0M | ||
| Q3 25 | $1.6B | $861.0M | ||
| Q2 25 | $1.5B | $838.0M | ||
| Q1 25 | $1.4B | $795.0M | ||
| Q4 24 | $1.4B | $820.0M | ||
| Q3 24 | $1.4B | $792.0M | ||
| Q2 24 | $1.5B | $777.0M | ||
| Q1 24 | $1.4B | $742.0M |
| Q4 25 | — | $263.0M | ||
| Q3 25 | $19.4M | $222.0M | ||
| Q2 25 | $12.7M | $244.0M | ||
| Q1 25 | $-26.2M | $170.0M | ||
| Q4 24 | $101.9M | $216.0M | ||
| Q3 24 | $16.9M | $214.0M | ||
| Q2 24 | $78.9M | $201.0M | ||
| Q1 24 | $81.2M | $153.0M |
| 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 24 | 21.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 8.6% | — | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | 10.2% | — | ||
| Q1 24 | 9.7% | — |
| Q4 25 | — | 29.5% | ||
| Q3 25 | 1.2% | 25.8% | ||
| Q2 25 | 0.9% | 29.1% | ||
| Q1 25 | -1.9% | 21.4% | ||
| Q4 24 | 7.2% | 26.3% | ||
| Q3 24 | 1.2% | 27.0% | ||
| Q2 24 | 5.4% | 25.9% | ||
| Q1 24 | 5.7% | 20.6% |
| Q4 25 | — | $1.77 | ||
| Q3 25 | $0.12 | $1.48 | ||
| Q2 25 | $0.08 | $1.63 | ||
| Q1 25 | $-0.16 | $1.13 | ||
| Q4 24 | $0.63 | $1.34 | ||
| Q3 24 | $0.11 | $1.37 | ||
| Q2 24 | $0.49 | $1.28 | ||
| Q1 24 | $0.50 | $0.96 |
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 | — |
| Total DebtLower is stronger | $4.0B | $1.5B |
| Stockholders' EquityBook value | $4.7B | $7.2B |
| Total Assets | $10.5B | $89.0B |
| Debt / EquityLower = less leverage | 0.86× | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $91.5M | — | ||
| Q2 25 | $94.6M | — | ||
| Q1 25 | $81.5M | — | ||
| Q4 24 | $76.0M | — | ||
| Q3 24 | $114.8M | — | ||
| Q2 24 | $121.6M | — | ||
| Q1 24 | $145.5M | — |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $4.0B | $1.5B | ||
| Q2 25 | $3.9B | $970.0M | ||
| Q1 25 | $3.8B | $964.0M | ||
| Q4 24 | $3.9B | $950.0M | ||
| Q3 24 | $4.1B | $548.0M | ||
| Q2 24 | $4.3B | $546.0M | ||
| Q1 24 | $4.4B | $544.0M |
| Q4 25 | — | $7.2B | ||
| Q3 25 | $4.7B | $6.9B | ||
| Q2 25 | $4.6B | $6.6B | ||
| Q1 25 | $4.4B | $6.3B | ||
| Q4 24 | $4.4B | $6.1B | ||
| Q3 24 | $4.6B | $6.4B | ||
| Q2 24 | $4.5B | $6.0B | ||
| Q1 24 | $4.6B | $5.8B |
| Q4 25 | — | $89.0B | ||
| Q3 25 | $10.5B | $88.5B | ||
| Q2 25 | $10.3B | $88.9B | ||
| Q1 25 | $10.0B | $88.0B | ||
| Q4 24 | $10.1B | $88.8B | ||
| Q3 24 | $10.6B | $87.0B | ||
| Q2 24 | $10.6B | $87.6B | ||
| Q1 24 | $10.9B | $87.1B |
| Q4 25 | — | 0.21× | ||
| Q3 25 | 0.86× | 0.21× | ||
| Q2 25 | 0.85× | 0.15× | ||
| Q1 25 | 0.86× | 0.15× | ||
| Q4 24 | 0.89× | 0.16× | ||
| Q3 24 | 0.91× | 0.09× | ||
| Q2 24 | 0.97× | 0.09× | ||
| Q1 24 | 0.95× | 0.09× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | — | $952.0M |
| FCF MarginFCF / Revenue | — | 106.8% |
| Capex IntensityCapex / Revenue | — | 13.6% |
| Cash ConversionOCF / Net Profit | 11.59× | 4.08× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.1B | ||
| Q3 25 | $224.3M | $438.0M | ||
| Q2 25 | $145.8M | $-62.0M | ||
| Q1 25 | $249.0M | $179.0M | ||
| Q4 24 | $154.4M | $1.1B | ||
| Q3 24 | $274.5M | $119.0M | ||
| Q2 24 | $146.5M | $251.0M | ||
| Q1 24 | $263.9M | $261.0M |
| Q4 25 | — | $952.0M | ||
| Q3 25 | — | $413.0M | ||
| Q2 25 | — | $-93.0M | ||
| Q1 25 | — | $152.0M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $97.0M | ||
| Q2 24 | — | $234.0M | ||
| Q1 24 | — | $231.0M |
| Q4 25 | — | 106.8% | ||
| Q3 25 | — | 48.0% | ||
| Q2 25 | — | -11.1% | ||
| Q1 25 | — | 19.1% | ||
| Q4 24 | — | 128.2% | ||
| Q3 24 | — | 12.2% | ||
| Q2 24 | — | 30.1% | ||
| Q1 24 | — | 31.1% |
| Q4 25 | — | 13.6% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 4.0% |
| Q4 25 | — | 4.08× | ||
| Q3 25 | 11.59× | 1.97× | ||
| Q2 25 | 11.52× | -0.25× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | 1.52× | 5.31× | ||
| Q3 24 | 16.19× | 0.56× | ||
| Q2 24 | 1.86× | 1.25× | ||
| Q1 24 | 3.25× | 1.71× |
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% |
ZION
Segment breakdown not available.
