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DARLING INGREDIENTS INC.（DAR）与QVC INC（QVCD）财务数据对比。点击上方公司名可切换其他公司
QVC INC的季度营收约是DARLING INGREDIENTS INC.的1.5倍（$2.4B vs $1.6B），QVC INC净利率更高（1.5% vs 1.2%，领先0.3%），DARLING INGREDIENTS INC.同比增速更快（10.0% vs -8.9%），过去两年QVC INC的营收复合增速更高（7.1% 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。
QVC集团是一家美国媒体 conglomerate，由公司董事长约翰·C·马龙控股，马龙持有该集团多数有表决权股份，业务覆盖媒体相关领域，是美国颇具影响力的传媒企业集团。
DAR vs QVCD — 直观对比
营收规模更大
QVCD
是对方的1.5倍
$1.6B
营收增速更快
DAR
高出18.9%
-8.9%
净利率更高
QVCD
高出0.3%
1.2%
两年增速更快
QVCD
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.4B |
| 净利润 | $19.4M | $37.0M |
| 毛利率 | 24.7% | 32.5% |
| 营业利润率 | 4.6% | 5.6% |
| 净利率 | 1.2% | 1.5% |
| 营收同比 | 10.0% | -8.9% |
| 净利润同比 | 14.2% | 103.0% |
| 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DARQVCD
| Q4 25 | — | $2.4B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.5B | $2.0B | ||
| Q1 25 | $1.4B | $1.9B | ||
| Q4 24 | $1.4B | $2.7B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.5B | $2.1B | ||
| Q1 24 | $1.4B | $2.1B |
净利润DARQVCD
| Q4 25 | — | $37.0M | ||
| Q3 25 | $19.4M | $2.0M | ||
| Q2 25 | $12.7M | $-2.2B | ||
| Q1 25 | $-26.2M | $-42.0M | ||
| Q4 24 | $101.9M | $-1.2B | ||
| Q3 24 | $16.9M | $51.0M | ||
| Q2 24 | $78.9M | $53.0M | ||
| Q1 24 | $81.2M | $51.0M |
毛利率DARQVCD
| Q4 25 | — | 32.5% | ||
| Q3 25 | 24.7% | 33.6% | ||
| Q2 25 | 23.3% | 35.4% | ||
| Q1 25 | 22.6% | 33.3% | ||
| Q4 24 | 23.5% | 32.6% | ||
| Q3 24 | 22.1% | 34.7% | ||
| Q2 24 | 22.5% | 35.6% | ||
| Q1 24 | 21.4% | 35.0% |
营业利润率DARQVCD
| Q4 25 | — | 5.6% | ||
| Q3 25 | 4.6% | 4.6% | ||
| Q2 25 | 5.1% | -114.5% | ||
| Q1 25 | 2.1% | 1.5% | ||
| Q4 24 | 8.6% | -47.1% | ||
| Q3 24 | 4.2% | 7.8% | ||
| Q2 24 | 10.2% | 7.6% | ||
| Q1 24 | 9.7% | 7.4% |
净利率DARQVCD
| Q4 25 | — | 1.5% | ||
| Q3 25 | 1.2% | 0.1% | ||
| Q2 25 | 0.9% | -109.1% | ||
| Q1 25 | -1.9% | -2.2% | ||
| Q4 24 | 7.2% | -46.0% | ||
| Q3 24 | 1.2% | 2.4% | ||
| Q2 24 | 5.4% | 2.5% | ||
| Q1 24 | 5.7% | 2.4% |
每股收益（稀释后）DARQVCD
| Q4 25 | — | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $0.08 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $0.63 | — | ||
| Q3 24 | $0.11 | — | ||
| Q2 24 | $0.49 | — | ||
| Q1 24 | $0.50 | — |
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 | $1.5B |
| 总债务越低越好 | $4.0B | $1.0M |
| 股东权益账面价值 | $4.7B | $1.2B |
| 总资产 | $10.5B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.86× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资DARQVCD
| Q4 25 | — | $1.5B | ||
| Q3 25 | $91.5M | — | ||
| Q2 25 | $94.6M | — | ||
| Q1 25 | $81.5M | — | ||
| Q4 24 | $76.0M | $297.0M | ||
| Q3 24 | $114.8M | $297.0M | ||
| Q2 24 | $121.6M | $315.0M | ||
| Q1 24 | $145.5M | $311.0M |
总债务DARQVCD
| Q4 25 | — | $1.0M | ||
| Q3 25 | $4.0B | $5.0B | ||
| Q2 25 | $3.9B | $4.0B | ||
| Q1 25 | $3.8B | $4.0B | ||
| Q4 24 | $3.9B | $3.3B | ||
| Q3 24 | $4.1B | $3.4B | ||
| Q2 24 | $4.3B | $3.7B | ||
| Q1 24 | $4.4B | $3.8B |
股东权益DARQVCD
| Q4 25 | — | $1.2B | ||
| Q3 25 | $4.7B | $1.2B | ||
| Q2 25 | $4.6B | $1.2B | ||
| Q1 25 | $4.4B | $3.3B | ||
| Q4 24 | $4.4B | $3.3B | ||
| Q3 24 | $4.6B | $4.6B | ||
| Q2 24 | $4.5B | $4.3B | ||
| Q1 24 | $4.6B | $4.2B |
总资产DARQVCD
| Q4 25 | — | $8.5B | ||
| Q3 25 | $10.5B | $8.3B | ||
| Q2 25 | $10.3B | $7.4B | ||
| Q1 25 | $10.0B | $9.7B | ||
| Q4 24 | $10.1B | $9.9B | ||
| Q3 24 | $10.6B | $9.9B | ||
| Q2 24 | $10.6B | $11.2B | ||
| Q1 24 | $10.9B | $11.4B |
负债/权益比DARQVCD
| Q4 25 | — | 0.00× | ||
| Q3 25 | 0.86× | 4.30× | ||
| Q2 25 | 0.85× | 3.42× | ||
| Q1 25 | 0.86× | 1.22× | ||
| Q4 24 | 0.89× | 1.01× | ||
| Q3 24 | 0.91× | 0.73× | ||
| Q2 24 | 0.97× | 0.87× | ||
| Q1 24 | 0.95× | 0.89× |
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 | $245.0M |
| 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× | 6.62× |
| 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DARQVCD
| Q4 25 | — | $245.0M | ||
| Q3 25 | $224.3M | $76.0M | ||
| Q2 25 | $145.8M | $52.0M | ||
| Q1 25 | $249.0M | $46.0M | ||
| Q4 24 | $154.4M | $189.0M | ||
| Q3 24 | $274.5M | $98.0M | ||
| Q2 24 | $146.5M | $164.0M | ||
| Q1 24 | $263.9M | $84.0M |
现金转化率DARQVCD
| Q4 25 | — | 6.62× | ||
| Q3 25 | 11.59× | 38.00× | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | 1.92× | ||
| Q2 24 | 1.86× | 3.09× | ||
| Q1 24 | 3.25× | 1.65× |
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% |
QVCD
| Home | $754.0M | 31% |
| QVC International | $661.0M | 27% |
| Beauty | $260.0M | 11% |
| Apparel | $254.0M | 10% |
| Electronics | $187.0M | 8% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 4% |
| Otherrevenue | $38.0M | 2% |
