vs
DARLING INGREDIENTS INC.（DAR）与Global Business Travel Group, Inc.（GBTG）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Global Business Travel Group, Inc.的2.0倍（$1.6B vs $792.0M），Global Business Travel Group, Inc.净利率更高（10.5% vs 1.2%，领先9.2%），Global Business Travel Group, Inc.同比增速更快（34.0% vs 10.0%），过去两年Global Business Travel Group, Inc.的营收复合增速更高（13.9% 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。
环球商旅集团（GBTG）是专业的差旅管理服务商，致力于为各类企业及机构提供全链路商务出行解决方案。核心服务涵盖智能线上预订工具、移动端应用、差旅项目管控与咨询、高管专属出行服务、会议活动支持、差旅数据分析以及出行安全保障等，可满足不同规模客户的多元化商务出行管理需求。
DAR vs GBTG — 直观对比
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $792.0M |
| 净利润 | $19.4M | $83.0M |
| 毛利率 | 24.7% | — |
| 营业利润率 | 4.6% | 3.7% |
| 净利率 | 1.2% | 10.5% |
| 营收同比 | 10.0% | 34.0% |
| 净利润同比 | 14.2% | 692.9% |
| 每股收益（稀释后） | $0.12 | $0.16 |
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
| Q4 25 | — | $792.0M | ||
| Q3 25 | $1.6B | $674.0M | ||
| Q2 25 | $1.5B | $631.0M | ||
| Q1 25 | $1.4B | $621.0M | ||
| Q4 24 | $1.4B | $591.0M | ||
| Q3 24 | $1.4B | $597.0M | ||
| Q2 24 | $1.5B | $625.0M | ||
| Q1 24 | $1.4B | $610.0M |
| Q4 25 | — | $83.0M | ||
| Q3 25 | $19.4M | $-62.0M | ||
| Q2 25 | $12.7M | $15.0M | ||
| Q1 25 | $-26.2M | $75.0M | ||
| Q4 24 | $101.9M | $-14.0M | ||
| Q3 24 | $16.9M | $-128.0M | ||
| Q2 24 | $78.9M | $27.0M | ||
| Q1 24 | $81.2M | $-19.0M |
| 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 | — | 3.7% | ||
| Q3 25 | 4.6% | 1.8% | ||
| Q2 25 | 5.1% | 5.4% | ||
| Q1 25 | 2.1% | 8.9% | ||
| Q4 24 | 8.6% | 5.1% | ||
| Q3 24 | 4.2% | 4.5% | ||
| Q2 24 | 10.2% | 6.7% | ||
| Q1 24 | 9.7% | 2.6% |
| Q4 25 | — | 10.5% | ||
| Q3 25 | 1.2% | -9.2% | ||
| Q2 25 | 0.9% | 2.4% | ||
| Q1 25 | -1.9% | 12.1% | ||
| Q4 24 | 7.2% | -2.4% | ||
| Q3 24 | 1.2% | -21.4% | ||
| Q2 24 | 5.4% | 4.3% | ||
| Q1 24 | 5.7% | -3.1% |
| Q4 25 | — | $0.16 | ||
| Q3 25 | $0.12 | $-0.13 | ||
| Q2 25 | $0.08 | $0.03 | ||
| Q1 25 | $-0.16 | $0.16 | ||
| Q4 24 | $0.63 | $-0.04 | ||
| Q3 24 | $0.11 | $-0.28 | ||
| Q2 24 | $0.49 | $0.06 | ||
| Q1 24 | $0.50 | $-0.04 |
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 | $434.0M |
| 总债务越低越好 | $4.0B | $1.4B |
| 股东权益账面价值 | $4.7B | $1.6B |
| 总资产 | $10.5B | $4.9B |
| 负债/权益比越低杠杆越低 | 0.86× | 0.88× |
8季度趋势，按日历期对齐
| Q4 25 | — | $434.0M | ||
| Q3 25 | $91.5M | $427.0M | ||
| Q2 25 | $94.6M | $601.0M | ||
| Q1 25 | $81.5M | $552.0M | ||
| Q4 24 | $76.0M | $536.0M | ||
| Q3 24 | $114.8M | $524.0M | ||
| Q2 24 | $121.6M | $515.0M | ||
| Q1 24 | $145.5M | $475.0M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $4.0B | $1.4B | ||
| Q2 25 | $3.9B | $1.4B | ||
| Q1 25 | $3.8B | $1.4B | ||
| Q4 24 | $3.9B | $1.4B | ||
| Q3 24 | $4.1B | $1.4B | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
| Q4 25 | — | $1.6B | ||
| Q3 25 | $4.7B | $1.5B | ||
| Q2 25 | $4.6B | $1.2B | ||
| Q1 25 | $4.4B | $1.1B | ||
| Q4 24 | $4.4B | $1.1B | ||
| Q3 24 | $4.6B | $1.1B | ||
| Q2 24 | $4.5B | $1.2B | ||
| Q1 24 | $4.6B | $1.2B |
| Q4 25 | — | $4.9B | ||
| Q3 25 | $10.5B | $4.8B | ||
| Q2 25 | $10.3B | $3.9B | ||
| Q1 25 | $10.0B | $3.8B | ||
| Q4 24 | $10.1B | $3.6B | ||
| Q3 24 | $10.6B | $3.8B | ||
| Q2 24 | $10.6B | $3.8B | ||
| Q1 24 | $10.9B | $3.8B |
| Q4 25 | — | 0.88× | ||
| Q3 25 | 0.86× | 0.91× | ||
| Q2 25 | 0.85× | 1.15× | ||
| Q1 25 | 0.86× | 1.23× | ||
| Q4 24 | 0.89× | 1.32× | ||
| Q3 24 | 0.91× | 1.26× | ||
| 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 | $52.0M |
| 自由现金流经营现金流 - 资本支出 | — | $13.0M |
| 自由现金流率自由现金流/营收 | — | 1.6% |
| 资本支出强度资本支出/营收 | — | 4.9% |
| 现金转化率经营现金流/净利润 | 11.59× | 0.63× |
| 过去12个月自由现金流最近4个季度 | — | $104.0M |
8季度趋势，按日历期对齐
| Q4 25 | — | $52.0M | ||
| Q3 25 | $224.3M | $71.0M | ||
| Q2 25 | $145.8M | $57.0M | ||
| Q1 25 | $249.0M | $53.0M | ||
| Q4 24 | $154.4M | $65.0M | ||
| Q3 24 | $274.5M | $85.0M | ||
| Q2 24 | $146.5M | $73.0M | ||
| Q1 24 | $263.9M | $49.0M |
| Q4 25 | — | $13.0M | ||
| Q3 25 | — | $38.0M | ||
| Q2 25 | — | $27.0M | ||
| Q1 25 | — | $26.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $49.0M | ||
| Q1 24 | — | $24.0M |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 3.9% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 4.1% |
| Q4 25 | — | 0.63× | ||
| Q3 25 | 11.59× | — | ||
| Q2 25 | 11.52× | 3.80× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | — | ||
| Q2 24 | 1.86× | 2.70× | ||
| 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% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
