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DARLING INGREDIENTS INC.（DAR）与PPL Corporation（PPL）财务数据对比。点击上方公司名可切换其他公司
PPL Corporation的季度营收约是DARLING INGREDIENTS INC.的1.5倍（$2.3B vs $1.6B），PPL Corporation净利率更高（11.3% vs 1.2%，领先10.1%），DARLING INGREDIENTS INC.同比增速更快（10.0% vs 7.2%），过去两年PPL Corporation的营收复合增速更高（1.0% 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。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
DAR vs PPL — 直观对比
营收规模更大
PPL
是对方的1.5倍
$1.6B
营收增速更快
DAR
高出2.8%
7.2%
净利率更高
PPL
高出10.1%
1.2%
两年增速更快
PPL
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.3B |
| 净利润 | $19.4M | $266.0M |
| 毛利率 | 24.7% | — |
| 营业利润率 | 4.6% | 20.3% |
| 净利率 | 1.2% | 11.3% |
| 营收同比 | 10.0% | 7.2% |
| 净利润同比 | 14.2% | 50.3% |
| 每股收益（稀释后） | $0.12 | $0.35 |
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DARPPL
| Q4 25 | — | $2.3B | ||
| Q3 25 | $1.6B | $2.2B | ||
| Q2 25 | $1.5B | $2.0B | ||
| Q1 25 | $1.4B | $2.5B | ||
| Q4 24 | $1.4B | $2.2B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.5B | $1.9B | ||
| Q1 24 | $1.4B | $2.3B |
净利润DARPPL
| Q4 25 | — | $266.0M | ||
| Q3 25 | $19.4M | $318.0M | ||
| Q2 25 | $12.7M | $183.0M | ||
| Q1 25 | $-26.2M | $414.0M | ||
| Q4 24 | $101.9M | $177.0M | ||
| Q3 24 | $16.9M | $214.0M | ||
| Q2 24 | $78.9M | $190.0M | ||
| Q1 24 | $81.2M | $307.0M |
毛利率DARPPL
| 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% | — |
营业利润率DARPPL
| Q4 25 | — | 20.3% | ||
| Q3 25 | 4.6% | 25.4% | ||
| Q2 25 | 5.1% | 19.9% | ||
| Q1 25 | 2.1% | 26.6% | ||
| Q4 24 | 8.6% | 17.2% | ||
| Q3 24 | 4.2% | 20.6% | ||
| Q2 24 | 10.2% | 20.8% | ||
| Q1 24 | 9.7% | 23.7% |
净利率DARPPL
| Q4 25 | — | 11.3% | ||
| Q3 25 | 1.2% | 14.2% | ||
| Q2 25 | 0.9% | 9.0% | ||
| Q1 25 | -1.9% | 16.3% | ||
| Q4 24 | 7.2% | 8.1% | ||
| Q3 24 | 1.2% | 10.3% | ||
| Q2 24 | 5.4% | 10.1% | ||
| Q1 24 | 5.7% | 13.3% |
每股收益（稀释后）DARPPL
| Q4 25 | — | $0.35 | ||
| Q3 25 | $0.12 | $0.43 | ||
| Q2 25 | $0.08 | $0.25 | ||
| Q1 25 | $-0.16 | $0.56 | ||
| Q4 24 | $0.63 | $0.23 | ||
| Q3 24 | $0.11 | $0.29 | ||
| Q2 24 | $0.49 | $0.26 | ||
| Q1 24 | $0.50 | $0.42 |
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 | $1.1B |
| 总债务越低越好 | $4.0B | $18.9B |
| 股东权益账面价值 | $4.7B | $14.9B |
| 总资产 | $10.5B | $45.2B |
| 负债/权益比越低杠杆越低 | 0.86× | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资DARPPL
| Q4 25 | — | $1.1B | ||
| Q3 25 | $91.5M | $1.1B | ||
| Q2 25 | $94.6M | $294.0M | ||
| Q1 25 | $81.5M | $312.0M | ||
| Q4 24 | $76.0M | $306.0M | ||
| Q3 24 | $114.8M | $542.0M | ||
| Q2 24 | $121.6M | $282.0M | ||
| Q1 24 | $145.5M | $276.0M |
总债务DARPPL
| Q4 25 | — | $18.9B | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | $16.5B | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
股东权益DARPPL
| Q4 25 | — | $14.9B | ||
| Q3 25 | $4.7B | $14.4B | ||
| Q2 25 | $4.6B | $14.3B | ||
| Q1 25 | $4.4B | $14.3B | ||
| Q4 24 | $4.4B | $14.1B | ||
| Q3 24 | $4.6B | $14.1B | ||
| Q2 24 | $4.5B | $14.1B | ||
| Q1 24 | $4.6B | $14.1B |
总资产DARPPL
| Q4 25 | — | $45.2B | ||
| Q3 25 | $10.5B | $43.9B | ||
| Q2 25 | $10.3B | $42.4B | ||
| Q1 25 | $10.0B | $41.8B | ||
| Q4 24 | $10.1B | $41.1B | ||
| Q3 24 | $10.6B | $40.5B | ||
| Q2 24 | $10.6B | $39.8B | ||
| Q1 24 | $10.9B | $39.6B |
负债/权益比DARPPL
| Q4 25 | — | 1.27× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | 1.17× | ||
| 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 | $548.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-614.0M |
| 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 | — | 49.5% |
| 现金转化率经营现金流/净利润 | 11.59× | 2.06× |
| 过去12个月自由现金流最近4个季度 | — | $-1.4B |
8季度趋势，按日历期对齐
经营现金流DARPPL
| Q4 25 | — | $548.0M | ||
| Q3 25 | $224.3M | $966.0M | ||
| Q2 25 | $145.8M | $602.0M | ||
| Q1 25 | $249.0M | $513.0M | ||
| Q4 24 | $154.4M | $511.0M | ||
| Q3 24 | $274.5M | $781.0M | ||
| Q2 24 | $146.5M | $766.0M | ||
| Q1 24 | $263.9M | $282.0M |
自由现金流DARPPL
| Q4 25 | — | $-614.0M | ||
| Q3 25 | — | $-179.0M | ||
| Q2 25 | — | $-328.0M | ||
| Q1 25 | — | $-280.0M | ||
| Q4 24 | — | $-349.0M | ||
| Q3 24 | — | $102.0M | ||
| Q2 24 | — | $96.0M | ||
| Q1 24 | — | $-314.0M |
自由现金流率DARPPL
| Q4 25 | — | -26.1% | ||
| Q3 25 | — | -8.0% | ||
| Q2 25 | — | -16.1% | ||
| Q1 25 | — | -11.0% | ||
| Q4 24 | — | -15.9% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | — | 5.1% | ||
| Q1 24 | — | -13.6% |
资本支出强度DARPPL
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 51.2% | ||
| Q2 25 | — | 45.6% | ||
| Q1 25 | — | 31.2% | ||
| Q4 24 | — | 39.3% | ||
| Q3 24 | — | 32.7% | ||
| Q2 24 | — | 35.8% | ||
| Q1 24 | — | 25.9% |
现金转化率DARPPL
| Q4 25 | — | 2.06× | ||
| Q3 25 | 11.59× | 3.04× | ||
| Q2 25 | 11.52× | 3.29× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | 1.52× | 2.89× | ||
| Q3 24 | 16.19× | 3.65× | ||
| Q2 24 | 1.86× | 4.03× | ||
| Q1 24 | 3.25× | 0.92× |
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% |
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
