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DARLING INGREDIENTS INC.（DAR）与F5, Inc.（FFIV）财务数据对比。点击上方公司名可切换其他公司
DARLING INGREDIENTS INC.的季度营收约是F5, Inc.的1.9倍（$1.6B vs $822.5M），F5, Inc.净利率更高（21.9% vs 1.2%，领先20.7%），DARLING INGREDIENTS INC.同比增速更快（10.0% vs 7.3%），过去两年F5, Inc.的营收复合增速更高（9.9% vs -1.6%）
Darling Ingredients Inc.是全球领先的可持续天然原料生产商，将可食用及不可食用有机副产品加工为食品级营养成分、动物饲料添加剂、制药原料、生物燃料组分等高价值产品，服务全球食品、农业、制药、可再生能源领域客户。
F5, Inc.是一家美国科技企业，专注于应用安全、多云管理、线上反欺诈、应用交付网络（ADN）相关业务，同时提供应用可用性与性能优化、网络安全、访问授权管理等产品及解决方案，助力各行业客户保障数字化业务稳定运营，提升运行效率。
DAR vs FFIV — 直观对比
营收规模更大
DAR
是对方的1.9倍
$822.5M
营收增速更快
DAR
高出2.7%
7.3%
净利率更高
FFIV
高出20.7%
1.2%
两年增速更快
FFIV
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $822.5M |
| 净利润 | $19.4M | $180.1M |
| 毛利率 | 24.7% | 81.5% |
| 营业利润率 | 4.6% | 26.0% |
| 净利率 | 1.2% | 21.9% |
| 营收同比 | 10.0% | 7.3% |
| 净利润同比 | 14.2% | 8.2% |
| 每股收益（稀释后） | $0.12 | $3.10 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DARFFIV
| Q4 25 | — | $822.5M | ||
| Q3 25 | $1.6B | $810.1M | ||
| Q2 25 | $1.5B | $780.4M | ||
| Q1 25 | $1.4B | $731.1M | ||
| Q4 24 | $1.4B | $766.5M | ||
| Q3 24 | $1.4B | $746.7M | ||
| Q2 24 | $1.5B | $695.5M | ||
| Q1 24 | $1.4B | $681.4M |
净利润DARFFIV
| Q4 25 | — | $180.1M | ||
| Q3 25 | $19.4M | $190.5M | ||
| Q2 25 | $12.7M | $189.9M | ||
| Q1 25 | $-26.2M | $145.5M | ||
| Q4 24 | $101.9M | $166.4M | ||
| Q3 24 | $16.9M | $165.3M | ||
| Q2 24 | $78.9M | $144.1M | ||
| Q1 24 | $81.2M | $119.0M |
毛利率DARFFIV
| Q4 25 | — | 81.5% | ||
| Q3 25 | 24.7% | 82.2% | ||
| Q2 25 | 23.3% | 81.0% | ||
| Q1 25 | 22.6% | 80.7% | ||
| Q4 24 | 23.5% | 81.7% | ||
| Q3 24 | 22.1% | 80.8% | ||
| Q2 24 | 22.5% | 80.4% | ||
| Q1 24 | 21.4% | 79.3% |
营业利润率DARFFIV
| Q4 25 | — | 26.0% | ||
| Q3 25 | 4.6% | 25.4% | ||
| Q2 25 | 5.1% | 25.2% | ||
| Q1 25 | 2.1% | 21.7% | ||
| Q4 24 | 8.6% | 26.8% | ||
| Q3 24 | 4.2% | 25.6% | ||
| Q2 24 | 10.2% | 23.4% | ||
| Q1 24 | 9.7% | 20.5% |
净利率DARFFIV
| Q4 25 | — | 21.9% | ||
| Q3 25 | 1.2% | 23.5% | ||
| Q2 25 | 0.9% | 24.3% | ||
| Q1 25 | -1.9% | 19.9% | ||
| Q4 24 | 7.2% | 21.7% | ||
| Q3 24 | 1.2% | 22.1% | ||
| Q2 24 | 5.4% | 20.7% | ||
| Q1 24 | 5.7% | 17.5% |
每股收益（稀释后）DARFFIV
| Q4 25 | — | $3.10 | ||
| Q3 25 | $0.12 | $3.25 | ||
| Q2 25 | $0.08 | $3.25 | ||
| Q1 25 | $-0.16 | $2.48 | ||
| Q4 24 | $0.63 | $2.82 | ||
| Q3 24 | $0.11 | $2.79 | ||
| Q2 24 | $0.49 | $2.44 | ||
| Q1 24 | $0.50 | $2.00 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $91.5M | $1.2B |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $4.7B | $3.5B |
| 总资产 | $10.5B | $6.3B |
| 负债/权益比越低杠杆越低 | 0.86× | — |
8季度趋势，按日历期对齐
现金及短期投资DARFFIV
| Q4 25 | — | $1.2B | ||
| Q3 25 | $91.5M | $1.3B | ||
| Q2 25 | $94.6M | $1.4B | ||
| Q1 25 | $81.5M | $1.3B | ||
| Q4 24 | $76.0M | $1.2B | ||
| Q3 24 | $114.8M | $1.1B | ||
| Q2 24 | $121.6M | $935.6M | ||
| Q1 24 | $145.5M | $903.5M |
总债务DARFFIV
| Q4 25 | — | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
股东权益DARFFIV
| Q4 25 | — | $3.5B | ||
| Q3 25 | $4.7B | $3.6B | ||
| Q2 25 | $4.6B | $3.5B | ||
| Q1 25 | $4.4B | $3.3B | ||
| Q4 24 | $4.4B | $3.2B | ||
| Q3 24 | $4.6B | $3.1B | ||
| Q2 24 | $4.5B | $3.0B | ||
| Q1 24 | $4.6B | $2.9B |
总资产DARFFIV
| Q4 25 | — | $6.3B | ||
| Q3 25 | $10.5B | $6.3B | ||
| Q2 25 | $10.3B | $6.1B | ||
| Q1 25 | $10.0B | $5.9B | ||
| Q4 24 | $10.1B | $5.9B | ||
| Q3 24 | $10.6B | $5.6B | ||
| Q2 24 | $10.6B | $5.4B | ||
| Q1 24 | $10.9B | $5.4B |
负债/权益比DARFFIV
| Q4 25 | — | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | 0.95× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $224.3M | $159.2M |
| 自由现金流经营现金流 - 资本支出 | — | $149.5M |
| 自由现金流率自由现金流/营收 | — | 18.2% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 11.59× | 0.88× |
| 过去12个月自由现金流最近4个季度 | — | $861.2M |
8季度趋势，按日历期对齐
经营现金流DARFFIV
| Q4 25 | — | $159.2M | ||
| Q3 25 | $224.3M | $208.1M | ||
| Q2 25 | $145.8M | $282.2M | ||
| Q1 25 | $249.0M | $256.6M | ||
| Q4 24 | $154.4M | $202.8M | ||
| Q3 24 | $274.5M | $246.5M | ||
| Q2 24 | $146.5M | $159.0M | ||
| Q1 24 | $263.9M | $221.6M |
自由现金流DARFFIV
| Q4 25 | — | $149.5M | ||
| Q3 25 | — | $191.9M | ||
| Q2 25 | — | $273.7M | ||
| Q1 25 | — | $246.1M | ||
| Q4 24 | — | $194.7M | ||
| Q3 24 | — | $240.4M | ||
| Q2 24 | — | $153.1M | ||
| Q1 24 | — | $212.2M |
自由现金流率DARFFIV
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 23.7% | ||
| Q2 25 | — | 35.1% | ||
| Q1 25 | — | 33.7% | ||
| Q4 24 | — | 25.4% | ||
| Q3 24 | — | 32.2% | ||
| Q2 24 | — | 22.0% | ||
| Q1 24 | — | 31.1% |
资本支出强度DARFFIV
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 2.0% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 1.4% |
现金转化率DARFFIV
| Q4 25 | — | 0.88× | ||
| Q3 25 | 11.59× | 1.09× | ||
| Q2 25 | 11.52× | 1.49× | ||
| Q1 25 | — | 1.76× | ||
| Q4 24 | 1.52× | 1.22× | ||
| Q3 24 | 16.19× | 1.49× | ||
| Q2 24 | 1.86× | 1.10× | ||
| Q1 24 | 3.25× | 1.86× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
FFIV
| Services | $412.2M | 50% |
| Products | $410.3M | 50% |
