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DARLING INGREDIENTS INC.（DAR）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
DARLING INGREDIENTS INC.的季度营收约是越洋钻探的1.5倍（$1.6B vs $1.0B），越洋钻探净利率更高（2.4% vs 1.2%，领先1.2%），DARLING INGREDIENTS INC.同比增速更快（10.0% vs 9.6%），过去两年越洋钻探的营收复合增速更高（16.9% 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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
DAR vs RIG — 直观对比
营收规模更大
DAR
是对方的1.5倍
$1.0B
营收增速更快
DAR
高出0.4%
9.6%
净利率更高
RIG
高出1.2%
1.2%
两年增速更快
RIG
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.0B |
| 净利润 | $19.4M | $25.0M |
| 毛利率 | 24.7% | 42.0% |
| 营业利润率 | 4.6% | 23.0% |
| 净利率 | 1.2% | 2.4% |
| 营收同比 | 10.0% | 9.6% |
| 净利润同比 | 14.2% | 257.1% |
| 每股收益（稀释后） | $0.12 | $0.13 |
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DARRIG
| Q4 25 | — | $1.0B | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.5B | $988.0M | ||
| Q1 25 | $1.4B | $906.0M | ||
| Q4 24 | $1.4B | $952.0M | ||
| Q3 24 | $1.4B | $948.0M | ||
| Q2 24 | $1.5B | $861.0M | ||
| Q1 24 | $1.4B | $763.0M |
净利润DARRIG
| Q4 25 | — | $25.0M | ||
| Q3 25 | $19.4M | $-1.9B | ||
| Q2 25 | $12.7M | $-938.0M | ||
| Q1 25 | $-26.2M | $-79.0M | ||
| Q4 24 | $101.9M | $7.0M | ||
| Q3 24 | $16.9M | $-494.0M | ||
| Q2 24 | $78.9M | $-123.0M | ||
| Q1 24 | $81.2M | $98.0M |
毛利率DARRIG
| Q4 25 | — | 42.0% | ||
| Q3 25 | 24.7% | 43.2% | ||
| Q2 25 | 23.3% | 39.4% | ||
| Q1 25 | 22.6% | 31.8% | ||
| Q4 24 | 23.5% | 39.2% | ||
| Q3 24 | 22.1% | 40.6% | ||
| Q2 24 | 22.5% | 38.0% | ||
| Q1 24 | 21.4% | 31.5% |
营业利润率DARRIG
| Q4 25 | — | 23.0% | ||
| Q3 25 | 4.6% | -163.1% | ||
| Q2 25 | 5.1% | -97.6% | ||
| Q1 25 | 2.1% | 7.1% | ||
| Q4 24 | 8.6% | 13.7% | ||
| Q3 24 | 4.2% | -51.2% | ||
| Q2 24 | 10.2% | -6.9% | ||
| Q1 24 | 9.7% | -0.4% |
净利率DARRIG
| Q4 25 | — | 2.4% | ||
| Q3 25 | 1.2% | -187.1% | ||
| Q2 25 | 0.9% | -94.9% | ||
| Q1 25 | -1.9% | -8.7% | ||
| Q4 24 | 7.2% | 0.7% | ||
| Q3 24 | 1.2% | -52.1% | ||
| Q2 24 | 5.4% | -14.3% | ||
| Q1 24 | 5.7% | 12.8% |
每股收益（稀释后）DARRIG
| Q4 25 | — | $0.13 | ||
| Q3 25 | $0.12 | $-2.00 | ||
| Q2 25 | $0.08 | $-1.06 | ||
| Q1 25 | $-0.16 | $-0.11 | ||
| Q4 24 | $0.63 | $-0.14 | ||
| Q3 24 | $0.11 | $-0.58 | ||
| Q2 24 | $0.49 | $-0.15 | ||
| Q1 24 | $0.50 | $0.11 |
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 | $620.0M |
| 总债务越低越好 | $4.0B | $5.2B |
| 股东权益账面价值 | $4.7B | $8.1B |
| 总资产 | $10.5B | $15.6B |
| 负债/权益比越低杠杆越低 | 0.86× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资DARRIG
| Q4 25 | — | $620.0M | ||
| Q3 25 | $91.5M | $833.0M | ||
| Q2 25 | $94.6M | $377.0M | ||
| Q1 25 | $81.5M | $263.0M | ||
| Q4 24 | $76.0M | $560.0M | ||
| Q3 24 | $114.8M | $435.0M | ||
| Q2 24 | $121.6M | $475.0M | ||
| Q1 24 | $145.5M | $446.0M |
总债务DARRIG
| Q4 25 | — | $5.2B | ||
| Q3 25 | $4.0B | $4.8B | ||
| Q2 25 | $3.9B | $5.9B | ||
| Q1 25 | $3.8B | $5.9B | ||
| Q4 24 | $3.9B | $6.2B | ||
| Q3 24 | $4.1B | $6.5B | ||
| Q2 24 | $4.3B | $6.8B | ||
| Q1 24 | $4.4B | $6.8B |
股东权益DARRIG
| Q4 25 | — | $8.1B | ||
| Q3 25 | $4.7B | $8.1B | ||
| Q2 25 | $4.6B | $9.4B | ||
| Q1 25 | $4.4B | $10.2B | ||
| Q4 24 | $4.4B | $10.3B | ||
| Q3 24 | $4.6B | $10.2B | ||
| Q2 24 | $4.5B | $10.7B | ||
| Q1 24 | $4.6B | $10.5B |
总资产DARRIG
| Q4 25 | — | $15.6B | ||
| Q3 25 | $10.5B | $16.2B | ||
| Q2 25 | $10.3B | $17.8B | ||
| Q1 25 | $10.0B | $19.0B | ||
| Q4 24 | $10.1B | $19.4B | ||
| Q3 24 | $10.6B | $19.5B | ||
| Q2 24 | $10.6B | $20.3B | ||
| Q1 24 | $10.9B | $19.9B |
负债/权益比DARRIG
| Q4 25 | — | 0.64× | ||
| Q3 25 | 0.86× | 0.60× | ||
| Q2 25 | 0.85× | 0.63× | ||
| Q1 25 | 0.86× | 0.58× | ||
| Q4 24 | 0.89× | 0.60× | ||
| Q3 24 | 0.91× | 0.64× | ||
| Q2 24 | 0.97× | 0.63× | ||
| Q1 24 | 0.95× | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | — | $321.0M |
| 自由现金流率自由现金流/营收 | — | 30.8% |
| 资本支出强度资本支出/营收 | — | 2.7% |
| 现金转化率经营现金流/净利润 | 11.59× | 13.96× |
| 过去12个月自由现金流最近4个季度 | — | $626.0M |
8季度趋势，按日历期对齐
经营现金流DARRIG
| Q4 25 | — | $349.0M | ||
| Q3 25 | $224.3M | $246.0M | ||
| Q2 25 | $145.8M | $128.0M | ||
| Q1 25 | $249.0M | $26.0M | ||
| Q4 24 | $154.4M | $206.0M | ||
| Q3 24 | $274.5M | $194.0M | ||
| Q2 24 | $146.5M | $133.0M | ||
| Q1 24 | $263.9M | $-86.0M |
自由现金流DARRIG
| Q4 25 | — | $321.0M | ||
| Q3 25 | — | $235.0M | ||
| Q2 25 | — | $104.0M | ||
| Q1 25 | — | $-34.0M | ||
| Q4 24 | — | $177.0M | ||
| Q3 24 | — | $136.0M | ||
| Q2 24 | — | $49.0M | ||
| Q1 24 | — | $-169.0M |
自由现金流率DARRIG
| Q4 25 | — | 30.8% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 10.5% | ||
| Q1 25 | — | -3.8% | ||
| Q4 24 | — | 18.6% | ||
| Q3 24 | — | 14.3% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | -22.1% |
资本支出强度DARRIG
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 6.1% | ||
| Q2 24 | — | 9.8% | ||
| Q1 24 | — | 10.9% |
现金转化率DARRIG
| Q4 25 | — | 13.96× | ||
| Q3 25 | 11.59× | — | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | 29.43× | ||
| Q3 24 | 16.19× | — | ||
| Q2 24 | 1.86× | — | ||
| Q1 24 | 3.25× | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
