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DARLING INGREDIENTS INC.（DAR）与FMC CORP（FMC）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FMC CORP的1.4倍（$1.6B vs $1.1B），DARLING INGREDIENTS INC.净利率更高（1.2% vs -158.8%，领先160.1%），DARLING INGREDIENTS INC.同比增速更快（10.0% vs -11.5%），过去两年FMC CORP的营收复合增速更高（8.6% 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。
FMC公司是总部位于美国宾夕法尼亚州费城的化工制造企业，1883年创立之初以生产杀虫剂为主，后续逐步拓展业务至其他领域。二战期间曾为美国陆军部设计生产两栖履带登陆车，目前在全球拥有7000名员工，业务布局广泛。
DAR vs FMC — 直观对比
营收规模更大
DAR
是对方的1.4倍
$1.1B
营收增速更快
DAR
高出21.5%
-11.5%
净利率更高
DAR
高出160.1%
-158.8%
两年增速更快
FMC
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.1B |
| 净利润 | $19.4M | $-1.7B |
| 毛利率 | 24.7% | 39.8% |
| 营业利润率 | 4.6% | -130.8% |
| 净利率 | 1.2% | -158.8% |
| 营收同比 | 10.0% | -11.5% |
| 净利润同比 | 14.2% | -10457.1% |
| 每股收益（稀释后） | $0.12 | $-13.77 |
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DARFMC
| Q4 25 | — | $1.1B | ||
| Q3 25 | $1.6B | $542.2M | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $791.4M | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.5B | $1.0B | ||
| Q1 24 | $1.4B | $918.0M |
净利润DARFMC
| Q4 25 | — | $-1.7B | ||
| Q3 25 | $19.4M | $-569.3M | ||
| Q2 25 | $12.7M | $66.7M | ||
| Q1 25 | $-26.2M | $-15.5M | ||
| Q4 24 | $101.9M | $-16.3M | ||
| Q3 24 | $16.9M | $65.0M | ||
| Q2 24 | $78.9M | $295.1M | ||
| Q1 24 | $81.2M | $-2.7M |
毛利率DARFMC
| Q4 25 | — | 39.8% | ||
| Q3 25 | 24.7% | 23.8% | ||
| Q2 25 | 23.3% | 38.7% | ||
| Q1 25 | 22.6% | 40.0% | ||
| Q4 24 | 23.5% | 42.9% | ||
| Q3 24 | 22.1% | 36.3% | ||
| Q2 24 | 22.5% | 38.3% | ||
| Q1 24 | 21.4% | 37.0% |
营业利润率DARFMC
| Q4 25 | — | -130.8% | ||
| Q3 25 | 4.6% | -73.1% | ||
| Q2 25 | 5.1% | 12.0% | ||
| Q1 25 | 2.1% | 7.4% | ||
| Q4 24 | 8.6% | 19.2% | ||
| Q3 24 | 4.2% | 12.7% | ||
| Q2 24 | 10.2% | 6.0% | ||
| Q1 24 | 9.7% | 8.1% |
净利率DARFMC
| Q4 25 | — | -158.8% | ||
| Q3 25 | 1.2% | -105.0% | ||
| Q2 25 | 0.9% | 6.3% | ||
| Q1 25 | -1.9% | -2.0% | ||
| Q4 24 | 7.2% | -1.3% | ||
| Q3 24 | 1.2% | 6.1% | ||
| Q2 24 | 5.4% | 28.4% | ||
| Q1 24 | 5.7% | -0.3% |
每股收益（稀释后）DARFMC
| Q4 25 | — | $-13.77 | ||
| Q3 25 | $0.12 | $-4.52 | ||
| Q2 25 | $0.08 | $0.53 | ||
| Q1 25 | $-0.16 | $-0.12 | ||
| Q4 24 | $0.63 | $-0.13 | ||
| Q3 24 | $0.11 | $0.52 | ||
| Q2 24 | $0.49 | $2.35 | ||
| Q1 24 | $0.50 | $-0.02 |
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 | $584.5M |
| 总债务越低越好 | $4.0B | $3.4B |
| 股东权益账面价值 | $4.7B | $2.1B |
| 总资产 | $10.5B | $9.7B |
| 负债/权益比越低杠杆越低 | 0.86× | 1.62× |
8季度趋势，按日历期对齐
现金及短期投资DARFMC
| Q4 25 | — | $584.5M | ||
| Q3 25 | $91.5M | $497.7M | ||
| Q2 25 | $94.6M | $438.2M | ||
| Q1 25 | $81.5M | $315.3M | ||
| Q4 24 | $76.0M | $357.3M | ||
| Q3 24 | $114.8M | $416.7M | ||
| Q2 24 | $121.6M | $471.5M | ||
| Q1 24 | $145.5M | $417.8M |
总债务DARFMC
| Q4 25 | — | $3.4B | ||
| Q3 25 | $4.0B | $3.4B | ||
| Q2 25 | $3.9B | $3.4B | ||
| Q1 25 | $3.8B | $3.1B | ||
| Q4 24 | $3.9B | $3.1B | ||
| Q3 24 | $4.1B | $3.1B | ||
| Q2 24 | $4.3B | $3.1B | ||
| Q1 24 | $4.4B | $3.1B |
股东权益DARFMC
| Q4 25 | — | $2.1B | ||
| Q3 25 | $4.7B | $3.8B | ||
| Q2 25 | $4.6B | $4.4B | ||
| Q1 25 | $4.4B | $4.4B | ||
| Q4 24 | $4.4B | $4.5B | ||
| Q3 24 | $4.6B | $4.6B | ||
| Q2 24 | $4.5B | $4.6B | ||
| Q1 24 | $4.6B | $4.3B |
总资产DARFMC
| Q4 25 | — | $9.7B | ||
| Q3 25 | $10.5B | $12.1B | ||
| Q2 25 | $10.3B | $12.3B | ||
| Q1 25 | $10.0B | $11.8B | ||
| Q4 24 | $10.1B | $11.7B | ||
| Q3 24 | $10.6B | $12.2B | ||
| Q2 24 | $10.6B | $12.1B | ||
| Q1 24 | $10.9B | $12.0B |
负债/权益比DARFMC
| Q4 25 | — | 1.62× | ||
| Q3 25 | 0.86× | 0.89× | ||
| Q2 25 | 0.85× | 0.76× | ||
| Q1 25 | 0.86× | 0.71× | ||
| Q4 24 | 0.89× | 0.69× | ||
| Q3 24 | 0.91× | 0.68× | ||
| Q2 24 | 0.97× | 0.68× | ||
| Q1 24 | 0.95× | 0.72× |
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 | $657.1M |
| 自由现金流经营现金流 - 资本支出 | — | $631.1M |
| 自由现金流率自由现金流/营收 | — | 58.3% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 11.59× | — |
| 过去12个月自由现金流最近4个季度 | — | $-102.5M |
8季度趋势，按日历期对齐
经营现金流DARFMC
| Q4 25 | — | $657.1M | ||
| Q3 25 | $224.3M | $-184.2M | ||
| Q2 25 | $145.8M | $65.9M | ||
| Q1 25 | $249.0M | $-545.0M | ||
| Q4 24 | $154.4M | $427.9M | ||
| Q3 24 | $274.5M | $159.5M | ||
| Q2 24 | $146.5M | $292.2M | ||
| Q1 24 | $263.9M | $-142.9M |
自由现金流DARFMC
| Q4 25 | — | $631.1M | ||
| Q3 25 | — | $-207.9M | ||
| Q2 25 | — | $50.9M | ||
| Q1 25 | — | $-576.6M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $143.8M | ||
| Q2 24 | — | $282.3M | ||
| Q1 24 | — | $-163.6M |
自由现金流率DARFMC
| Q4 25 | — | 58.3% | ||
| Q3 25 | — | -38.3% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | -72.9% | ||
| Q4 24 | — | 33.2% | ||
| Q3 24 | — | 13.5% | ||
| Q2 24 | — | 27.2% | ||
| Q1 24 | — | -17.8% |
资本支出强度DARFMC
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 2.3% |
现金转化率DARFMC
| Q4 25 | — | — | ||
| Q3 25 | 11.59× | — | ||
| Q2 25 | 11.52× | 0.99× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | 2.45× | ||
| Q2 24 | 1.86× | 0.99× | ||
| Q1 24 | 3.25× | — |
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% |
FMC
| Insecticides | $440.3M | 41% |
| Herbicides | $378.8M | 35% |
| Fungicides | $140.4M | 13% |
| Plant Health | $65.6M | 6% |
| Other | $45.0M | 4% |
