vs
DARLING INGREDIENTS INC.（DAR）与奥驰亚（MO）财务数据对比。点击上方公司名可切换其他公司
奥驰亚的季度营收约是DARLING INGREDIENTS INC.的3.7倍（$5.8B vs $1.6B）。奥驰亚净利率更高（19.1% vs 1.2%，领先17.9%）。DARLING INGREDIENTS INC.同比增速更快（10.0% vs -2.1%）。过去两年奥驰亚的营收复合增速更高（2.4% 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。
奥驰亚集团是美国头部烟草企业，通过旗下子公司生产销售可燃烟草与口服类烟草相关产品，核心品牌包括万宝路香烟、Black & Mild雪茄及烟斗烟、哥本哈根、斯库尔等湿无烟烟草，以及on!口服尼古丁袋，产品主要供应批发商、分销商及大型零售客户。
DAR vs MO — 直观对比
营收规模更大
MO
是对方的3.7倍
$1.6B
营收增速更快
DAR
高出12.1%
-2.1%
净利率更高
MO
高出17.9%
1.2%
两年增速更快
MO
近两年复合增速
-1.6%
损益表 — Q3 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $5.8B |
| 净利润 | $19.4M | $1.1B |
| 毛利率 | 24.7% | 62.1% |
| 营业利润率 | 4.6% | 28.2% |
| 净利率 | 1.2% | 19.1% |
| 营收同比 | 10.0% | -2.1% |
| 净利润同比 | 14.2% | -63.2% |
| 每股收益（稀释后） | $0.12 | $0.67 |
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DARMO
| Q4 25 | — | $5.8B | ||
| Q3 25 | $1.6B | $6.1B | ||
| Q2 25 | $1.5B | $6.1B | ||
| Q1 25 | $1.4B | $5.3B | ||
| Q4 24 | $1.4B | $6.0B | ||
| Q3 24 | $1.4B | $6.3B | ||
| Q2 24 | $1.5B | $6.2B | ||
| Q1 24 | $1.4B | $5.6B |
净利润DARMO
| Q4 25 | — | $1.1B | ||
| Q3 25 | $19.4M | $2.4B | ||
| Q2 25 | $12.7M | $2.4B | ||
| Q1 25 | $-26.2M | $1.1B | ||
| Q4 24 | $101.9M | $3.0B | ||
| Q3 24 | $16.9M | $2.3B | ||
| Q2 24 | $78.9M | $3.8B | ||
| Q1 24 | $81.2M | $2.1B |
毛利率DARMO
| Q4 25 | — | 62.1% | ||
| Q3 25 | 24.7% | 62.8% | ||
| Q2 25 | 23.3% | 63.1% | ||
| Q1 25 | 22.6% | 61.8% | ||
| Q4 24 | 23.5% | 60.3% | ||
| Q3 24 | 22.1% | 60.8% | ||
| Q2 24 | 22.5% | 59.2% | ||
| Q1 24 | 21.4% | 58.8% |
营业利润率DARMO
| Q4 25 | — | 28.2% | ||
| Q3 25 | 4.6% | 53.2% | ||
| Q2 25 | 5.1% | 52.9% | ||
| Q1 25 | 2.1% | 34.0% | ||
| Q4 24 | 8.6% | 48.2% | ||
| Q3 24 | 4.2% | 50.4% | ||
| Q2 24 | 10.2% | 40.8% | ||
| Q1 24 | 9.7% | 48.0% |
净利率DARMO
| Q4 25 | — | 19.1% | ||
| Q3 25 | 1.2% | 39.1% | ||
| Q2 25 | 0.9% | 39.0% | ||
| Q1 25 | -1.9% | 20.5% | ||
| Q4 24 | 7.2% | 50.9% | ||
| Q3 24 | 1.2% | 36.6% | ||
| Q2 24 | 5.4% | 61.2% | ||
| Q1 24 | 5.7% | 38.2% |
每股收益（稀释后）DARMO
| Q4 25 | — | $0.67 | ||
| Q3 25 | $0.12 | $1.41 | ||
| Q2 25 | $0.08 | $1.41 | ||
| Q1 25 | $-0.16 | $0.63 | ||
| Q4 24 | $0.63 | $1.78 | ||
| Q3 24 | $0.11 | $1.34 | ||
| Q2 24 | $0.49 | $2.21 | ||
| Q1 24 | $0.50 | $1.21 |
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 | $4.5B |
| 总债务越低越好 | $4.0B | $25.7B |
| 股东权益账面价值 | $4.7B | $-3.5B |
| 总资产 | $10.5B | $35.0B |
| 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DARMO
| Q4 25 | — | $4.5B | ||
| Q3 25 | $91.5M | $3.5B | ||
| Q2 25 | $94.6M | $1.3B | ||
| Q1 25 | $81.5M | $4.7B | ||
| Q4 24 | $76.0M | $3.1B | ||
| Q3 24 | $114.8M | $1.9B | ||
| Q2 24 | $121.6M | $1.8B | ||
| Q1 24 | $145.5M | $3.6B |
总债务DARMO
| Q4 25 | — | $25.7B | ||
| Q3 25 | $4.0B | $25.7B | ||
| Q2 25 | $3.9B | $24.7B | ||
| Q1 25 | $3.8B | $26.1B | ||
| Q4 24 | $3.9B | $24.9B | ||
| Q3 24 | $4.1B | $25.2B | ||
| Q2 24 | $4.3B | $25.0B | ||
| Q1 24 | $4.4B | $25.0B |
股东权益DARMO
| Q4 25 | — | $-3.5B | ||
| Q3 25 | $4.7B | $-2.6B | ||
| Q2 25 | $4.6B | $-3.3B | ||
| Q1 25 | $4.4B | $-3.5B | ||
| Q4 24 | $4.4B | $-2.2B | ||
| Q3 24 | $4.6B | $-3.5B | ||
| Q2 24 | $4.5B | $-3.0B | ||
| Q1 24 | $4.6B | $-5.1B |
总资产DARMO
| Q4 25 | — | $35.0B | ||
| Q3 25 | $10.5B | $35.0B | ||
| Q2 25 | $10.3B | $32.3B | ||
| Q1 25 | $10.0B | $35.8B | ||
| Q4 24 | $10.1B | $35.2B | ||
| Q3 24 | $10.6B | $34.2B | ||
| Q2 24 | $10.6B | $34.4B | ||
| Q1 24 | $10.9B | $36.5B |
负债/权益比DARMO
| 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 | $3.3B |
| 自由现金流经营现金流 - 资本支出 | — | $3.2B |
| 自由现金流率自由现金流/营收 | — | 54.4% |
| 资本支出强度资本支出/营收 | — | 1.6% |
| 现金转化率经营现金流/净利润 | 11.59× | 2.93× |
| 过去12个月自由现金流最近4个季度 | — | $9.1B |
8季度趋势，按日历期对齐
经营现金流DARMO
| Q4 25 | — | $3.3B | ||
| Q3 25 | $224.3M | $3.1B | ||
| Q2 25 | $145.8M | $205.0M | ||
| Q1 25 | $249.0M | $2.7B | ||
| Q4 24 | $154.4M | $3.3B | ||
| Q3 24 | $274.5M | $2.6B | ||
| Q2 24 | $146.5M | $-75.0M | ||
| Q1 24 | $263.9M | $2.9B |
自由现金流DARMO
| Q4 25 | — | $3.2B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $173.0M | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $-104.0M | ||
| Q1 24 | — | $2.8B |
自由现金流率DARMO
| Q4 25 | — | 54.4% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 51.0% | ||
| Q4 24 | — | 55.1% | ||
| Q3 24 | — | 41.2% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | — | 51.0% |
资本支出强度DARMO
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.6% |
现金转化率DARMO
| Q4 25 | — | 2.93× | ||
| Q3 25 | 11.59× | 1.30× | ||
| Q2 25 | 11.52× | 0.09× | ||
| Q1 25 | — | 2.53× | ||
| Q4 24 | 1.52× | 1.10× | ||
| Q3 24 | 16.19× | 1.14× | ||
| Q2 24 | 1.86× | -0.02× | ||
| Q1 24 | 3.25× | 1.35× |
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% |
MO
| Smokeable Products Segment | $5.1B | 88% |
| Oral Tobacco Segment | $706.0M | 12% |
