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DARLING INGREDIENTS INC.（DAR）与Global Payments（GPN）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 Payments的1.2倍（$1.6B vs $1.3B），Global Payments净利率更高（16.4% vs 1.2%，领先15.1%），DARLING INGREDIENTS INC.同比增速更快（10.0% vs -47.1%），过去两年DARLING INGREDIENTS INC.的营收复合增速更高（-1.6% vs -25.9%）
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。
Global Payments Inc.是美国跨国金融科技企业，面向商户、发卡机构及消费者提供支付技术与相关服务，支持信用卡、借记卡、数字支付及非接触式支付的交易处理，2021年6月入选《财富》500强榜单。
DAR vs GPN — 直观对比
营收规模更大
DAR
是对方的1.2倍
$1.3B
营收增速更快
DAR
高出57.1%
-47.1%
净利率更高
GPN
高出15.1%
1.2%
两年增速更快
DAR
近两年复合增速
-25.9%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.3B |
| 净利润 | $19.4M | $217.5M |
| 毛利率 | 24.7% | 89.7% |
| 营业利润率 | 4.6% | 5.9% |
| 净利率 | 1.2% | 16.4% |
| 营收同比 | 10.0% | -47.1% |
| 净利润同比 | 14.2% | -61.6% |
| 每股收益（稀释后） | $0.12 | $0.91 |
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DARGPN
| Q4 25 | — | $1.3B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.5B | $2.0B | ||
| Q1 25 | $1.4B | $2.4B | ||
| Q4 24 | $1.4B | $2.5B | ||
| Q3 24 | $1.4B | $2.6B | ||
| Q2 24 | $1.5B | $2.6B | ||
| Q1 24 | $1.4B | $2.4B |
净利润DARGPN
| Q4 25 | — | $217.5M | ||
| Q3 25 | $19.4M | $635.2M | ||
| Q2 25 | $12.7M | $241.6M | ||
| Q1 25 | $-26.2M | $305.7M | ||
| Q4 24 | $101.9M | $567.2M | ||
| Q3 24 | $16.9M | $315.1M | ||
| Q2 24 | $78.9M | $374.8M | ||
| Q1 24 | $81.2M | $313.3M |
毛利率DARGPN
| Q4 25 | — | 89.7% | ||
| Q3 25 | 24.7% | 72.3% | ||
| Q2 25 | 23.3% | 74.5% | ||
| Q1 25 | 22.6% | 61.8% | ||
| Q4 24 | 23.5% | 62.1% | ||
| Q3 24 | 22.1% | 63.6% | ||
| Q2 24 | 22.5% | 63.5% | ||
| Q1 24 | 21.4% | 61.9% |
营业利润率DARGPN
| Q4 25 | — | 5.9% | ||
| Q3 25 | 4.6% | 38.8% | ||
| Q2 25 | 5.1% | 21.8% | ||
| Q1 25 | 2.1% | 19.5% | ||
| Q4 24 | 8.6% | 33.1% | ||
| Q3 24 | 4.2% | 18.3% | ||
| Q2 24 | 10.2% | 22.3% | ||
| Q1 24 | 9.7% | 18.7% |
净利率DARGPN
| Q4 25 | — | 16.4% | ||
| Q3 25 | 1.2% | 31.6% | ||
| Q2 25 | 0.9% | 12.3% | ||
| Q1 25 | -1.9% | 12.7% | ||
| Q4 24 | 7.2% | 22.5% | ||
| Q3 24 | 1.2% | 12.1% | ||
| Q2 24 | 5.4% | 14.6% | ||
| Q1 24 | 5.7% | 12.9% |
每股收益（稀释后）DARGPN
| Q4 25 | — | $0.91 | ||
| Q3 25 | $0.12 | $2.64 | ||
| Q2 25 | $0.08 | $0.99 | ||
| Q1 25 | $-0.16 | $1.24 | ||
| Q4 24 | $0.63 | $2.23 | ||
| Q3 24 | $0.11 | $1.24 | ||
| Q2 24 | $0.49 | $1.47 | ||
| Q1 24 | $0.50 | $1.22 |
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 | $8.3B |
| 总债务越低越好 | $4.0B | $19.5B |
| 股东权益账面价值 | $4.7B | $22.9B |
| 总资产 | $10.5B | $53.3B |
| 负债/权益比越低杠杆越低 | 0.86× | 0.85× |
8季度趋势，按日历期对齐
现金及短期投资DARGPN
| Q4 25 | — | $8.3B | ||
| Q3 25 | $91.5M | $2.6B | ||
| Q2 25 | $94.6M | $2.6B | ||
| Q1 25 | $81.5M | $2.9B | ||
| Q4 24 | $76.0M | $2.5B | ||
| Q3 24 | $114.8M | $2.9B | ||
| Q2 24 | $121.6M | $2.1B | ||
| Q1 24 | $145.5M | $2.2B |
总债务DARGPN
| Q4 25 | — | $19.5B | ||
| Q3 25 | $4.0B | $13.3B | ||
| Q2 25 | $3.9B | $14.2B | ||
| Q1 25 | $3.8B | $15.0B | ||
| Q4 24 | $3.9B | $15.2B | ||
| Q3 24 | $4.1B | $15.2B | ||
| Q2 24 | $4.3B | $15.6B | ||
| Q1 24 | $4.4B | $15.6B |
股东权益DARGPN
| Q4 25 | — | $22.9B | ||
| Q3 25 | $4.7B | $22.7B | ||
| Q2 25 | $4.6B | $22.6B | ||
| Q1 25 | $4.4B | $22.2B | ||
| Q4 24 | $4.4B | $22.3B | ||
| Q3 24 | $4.6B | $22.8B | ||
| Q2 24 | $4.5B | $22.4B | ||
| Q1 24 | $4.6B | $22.2B |
总资产DARGPN
| Q4 25 | — | $53.3B | ||
| Q3 25 | $10.5B | $48.0B | ||
| Q2 25 | $10.3B | $48.5B | ||
| Q1 25 | $10.0B | $47.6B | ||
| Q4 24 | $10.1B | $46.9B | ||
| Q3 24 | $10.6B | $50.0B | ||
| Q2 24 | $10.6B | $50.8B | ||
| Q1 24 | $10.9B | $51.8B |
负债/权益比DARGPN
| Q4 25 | — | 0.85× | ||
| Q3 25 | 0.86× | 0.59× | ||
| Q2 25 | 0.85× | 0.63× | ||
| Q1 25 | 0.86× | 0.67× | ||
| Q4 24 | 0.89× | 0.68× | ||
| Q3 24 | 0.91× | 0.67× | ||
| Q2 24 | 0.97× | 0.70× | ||
| Q1 24 | 0.95× | 0.70× |
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 | $515.2M |
| 自由现金流经营现金流 - 资本支出 | — | $347.0M |
| 自由现金流率自由现金流/营收 | — | 26.1% |
| 资本支出强度资本支出/营收 | — | 12.7% |
| 现金转化率经营现金流/净利润 | 11.59× | 2.37× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流DARGPN
| Q4 25 | — | $515.2M | ||
| Q3 25 | $224.3M | $768.7M | ||
| Q2 25 | $145.8M | $817.5M | ||
| Q1 25 | $249.0M | $555.1M | ||
| Q4 24 | $154.4M | $653.4M | ||
| Q3 24 | $274.5M | $1.7B | ||
| Q2 24 | $146.5M | $736.9M | ||
| Q1 24 | $263.9M | $416.3M |
自由现金流DARGPN
| Q4 25 | — | $347.0M | ||
| Q3 25 | — | $598.9M | ||
| Q2 25 | — | $665.4M | ||
| Q1 25 | — | $427.5M | ||
| Q4 24 | — | $469.4M | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $557.7M | ||
| Q1 24 | — | $270.9M |
自由现金流率DARGPN
| Q4 25 | — | 26.1% | ||
| Q3 25 | — | 29.8% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 17.7% | ||
| Q4 24 | — | 18.7% | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | 21.7% | ||
| Q1 24 | — | 11.2% |
资本支出强度DARGPN
| Q4 25 | — | 12.7% | ||
| Q3 25 | — | 8.5% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 6.4% | ||
| Q2 24 | — | 7.0% | ||
| Q1 24 | — | 6.0% |
现金转化率DARGPN
| Q4 25 | — | 2.37× | ||
| Q3 25 | 11.59× | 1.21× | ||
| Q2 25 | 11.52× | 3.38× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | 1.52× | 1.15× | ||
| Q3 24 | 16.19× | 5.48× | ||
| Q2 24 | 1.86× | 1.97× | ||
| Q1 24 | 3.25× | 1.33× |
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% |
GPN
| Integrated And Embedded Solutions | $869.3M | 65% |
| Point Of Sale And Software Solutions | $281.7M | 21% |
| Other | $178.4M | 13% |
