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DARLING INGREDIENTS INC.（DAR）与OLD REPUBLIC INTERNATIONAL CORP（ORI）财务数据对比。点击上方公司名可切换其他公司
OLD REPUBLIC INTERNATIONAL CORP的季度营收约是DARLING INGREDIENTS INC.的1.5倍（$2.4B vs $1.6B），OLD REPUBLIC INTERNATIONAL CORP净利率更高（13.8% vs 1.2%，领先12.5%），DARLING INGREDIENTS INC.同比增速更快（10.0% vs 6.7%），过去两年OLD REPUBLIC INTERNATIONAL CORP的营收复合增速更高（13.2% 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。
Old Republic International Corp是一家总部位于美国伊利诺伊州芝加哥的保险企业，核心业务覆盖财产保险、产权保险两大领域，深耕行业多年，具备成熟的风险防控能力与完善的服务体系，可为各类客户提供专业可靠的保险产品及相关解决方案。
DAR vs ORI — 直观对比
营收规模更大
ORI
是对方的1.5倍
$1.6B
营收增速更快
DAR
高出3.3%
6.7%
净利率更高
ORI
高出12.5%
1.2%
两年增速更快
ORI
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.4B |
| 净利润 | $19.4M | $330.0M |
| 毛利率 | 24.7% | — |
| 营业利润率 | 4.6% | — |
| 净利率 | 1.2% | 13.8% |
| 营收同比 | 10.0% | 6.7% |
| 净利润同比 | 14.2% | 34.7% |
| 每股收益（稀释后） | $0.12 | — |
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DARORI
| Q1 26 | — | $2.4B | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | $1.6B | $2.4B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.4B | $2.0B | ||
| Q3 24 | $1.4B | $2.3B | ||
| Q2 24 | $1.5B | $1.9B |
净利润DARORI
| Q1 26 | — | $330.0M | ||
| Q4 25 | — | $206.5M | ||
| Q3 25 | $19.4M | $279.5M | ||
| Q2 25 | $12.7M | $204.4M | ||
| Q1 25 | $-26.2M | $245.0M | ||
| Q4 24 | $101.9M | $105.3M | ||
| Q3 24 | $16.9M | $338.9M | ||
| Q2 24 | $78.9M | $91.8M |
毛利率DARORI
| Q1 26 | — | — | ||
| 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% | — |
营业利润率DARORI
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.6% | 14.6% | ||
| Q2 25 | 5.1% | 11.8% | ||
| Q1 25 | 2.1% | 14.6% | ||
| Q4 24 | 8.6% | — | ||
| Q3 24 | 4.2% | 18.2% | ||
| Q2 24 | 10.2% | 6.1% |
净利率DARORI
| Q1 26 | — | 13.8% | ||
| Q4 25 | — | 8.6% | ||
| Q3 25 | 1.2% | 11.5% | ||
| Q2 25 | 0.9% | 9.3% | ||
| Q1 25 | -1.9% | 11.6% | ||
| Q4 24 | 7.2% | 5.3% | ||
| Q3 24 | 1.2% | 14.5% | ||
| Q2 24 | 5.4% | 4.9% |
每股收益（稀释后）DARORI
| Q1 26 | — | — | ||
| Q4 25 | — | $0.82 | ||
| Q3 25 | $0.12 | $1.11 | ||
| Q2 25 | $0.08 | $0.81 | ||
| Q1 25 | $-0.16 | $0.98 | ||
| Q4 24 | $0.63 | $0.42 | ||
| Q3 24 | $0.11 | $1.32 | ||
| Q2 24 | $0.49 | $0.35 |
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 | — |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $4.7B | $5.9M |
| 总资产 | $10.5B | $29.6M |
| 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DARORI
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $91.5M | — | ||
| Q2 25 | $94.6M | — | ||
| Q1 25 | $81.5M | — | ||
| Q4 24 | $76.0M | — | ||
| Q3 24 | $114.8M | — | ||
| Q2 24 | $121.6M | — |
总债务DARORI
| Q1 26 | — | — | ||
| 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 | — |
股东权益DARORI
| Q1 26 | — | $5.9M | ||
| Q4 25 | — | $5.9B | ||
| Q3 25 | $4.7B | $6.4B | ||
| Q2 25 | $4.6B | $6.2B | ||
| Q1 25 | $4.4B | $5.9B | ||
| Q4 24 | $4.4B | $5.6B | ||
| Q3 24 | $4.6B | $6.4B | ||
| Q2 24 | $4.5B | $6.0B |
总资产DARORI
| Q1 26 | — | $29.6M | ||
| Q4 25 | — | $29.9B | ||
| Q3 25 | $10.5B | $30.3B | ||
| Q2 25 | $10.3B | $29.3B | ||
| Q1 25 | $10.0B | $28.0B | ||
| Q4 24 | $10.1B | $27.8B | ||
| Q3 24 | $10.6B | $28.8B | ||
| Q2 24 | $10.6B | $27.5B |
负债/权益比DARORI
| Q1 26 | — | — | ||
| 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× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流DARORI
| Q1 26 | — | — | ||
| Q4 25 | — | $234.9M | ||
| Q3 25 | $224.3M | $563.9M | ||
| Q2 25 | $145.8M | $133.8M | ||
| Q1 25 | $249.0M | $231.7M | ||
| Q4 24 | $154.4M | $361.7M | ||
| Q3 24 | $274.5M | $474.8M | ||
| Q2 24 | $146.5M | $236.5M |
现金转化率DARORI
| Q1 26 | — | — | ||
| Q4 25 | — | 1.14× | ||
| Q3 25 | 11.59× | 2.02× | ||
| Q2 25 | 11.52× | 0.65× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | 1.52× | 3.43× | ||
| Q3 24 | 16.19× | 1.40× | ||
| Q2 24 | 1.86× | 2.58× |
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% |
ORI
| operating | $2.2B | 92% |
| Other | $201.8M | 8% |
