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DARLING INGREDIENTS INC.（DAR）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
DARLING INGREDIENTS INC.的季度营收约是瑞思迈的1.1倍（$1.6B vs $1.4B），瑞思迈净利率更高（27.6% vs 1.2%，领先26.4%），瑞思迈同比增速更快（11.0% vs 10.0%），过去两年瑞思迈的营收复合增速更高（9.0% 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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
DAR vs RMD — 直观对比
营收规模更大
DAR
是对方的1.1倍
$1.4B
营收增速更快
RMD
高出1.0%
10.0%
净利率更高
RMD
高出26.4%
1.2%
两年增速更快
RMD
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.4B |
| 净利润 | $19.4M | $392.6M |
| 毛利率 | 24.7% | 61.8% |
| 营业利润率 | 4.6% | 34.6% |
| 净利率 | 1.2% | 27.6% |
| 营收同比 | 10.0% | 11.0% |
| 净利润同比 | 14.2% | 13.9% |
| 每股收益（稀释后） | $0.12 | $2.68 |
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DARRMD
| Q4 25 | — | $1.4B | ||
| Q3 25 | $1.6B | $1.3B | ||
| Q2 25 | $1.5B | $1.3B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
净利润DARRMD
| Q4 25 | — | $392.6M | ||
| Q3 25 | $19.4M | $348.5M | ||
| Q2 25 | $12.7M | $379.7M | ||
| Q1 25 | $-26.2M | $365.0M | ||
| Q4 24 | $101.9M | $344.6M | ||
| Q3 24 | $16.9M | $311.4M | ||
| Q2 24 | $78.9M | $292.2M | ||
| Q1 24 | $81.2M | $300.5M |
毛利率DARRMD
| Q4 25 | — | 61.8% | ||
| Q3 25 | 24.7% | 61.5% | ||
| Q2 25 | 23.3% | 60.8% | ||
| Q1 25 | 22.6% | 59.3% | ||
| Q4 24 | 23.5% | 58.6% | ||
| Q3 24 | 22.1% | 58.6% | ||
| Q2 24 | 22.5% | 58.5% | ||
| Q1 24 | 21.4% | 57.9% |
营业利润率DARRMD
| Q4 25 | — | 34.6% | ||
| Q3 25 | 4.6% | 33.4% | ||
| Q2 25 | 5.1% | 33.7% | ||
| Q1 25 | 2.1% | 33.0% | ||
| Q4 24 | 8.6% | 32.5% | ||
| Q3 24 | 4.2% | 31.6% | ||
| Q2 24 | 10.2% | 31.2% | ||
| Q1 24 | 9.7% | 31.3% |
净利率DARRMD
| Q4 25 | — | 27.6% | ||
| Q3 25 | 1.2% | 26.1% | ||
| Q2 25 | 0.9% | 28.2% | ||
| Q1 25 | -1.9% | 28.3% | ||
| Q4 24 | 7.2% | 26.9% | ||
| Q3 24 | 1.2% | 25.4% | ||
| Q2 24 | 5.4% | 23.9% | ||
| Q1 24 | 5.7% | 25.1% |
每股收益（稀释后）DARRMD
| Q4 25 | — | $2.68 | ||
| Q3 25 | $0.12 | $2.37 | ||
| Q2 25 | $0.08 | $2.58 | ||
| Q1 25 | $-0.16 | $2.48 | ||
| Q4 24 | $0.63 | $2.34 | ||
| Q3 24 | $0.11 | $2.11 | ||
| Q2 24 | $0.49 | $1.97 | ||
| Q1 24 | $0.50 | $2.04 |
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 | $1.4B |
| 总债务越低越好 | $4.0B | $403.9M |
| 股东权益账面价值 | $4.7B | $6.3B |
| 总资产 | $10.5B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.86× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资DARRMD
| Q4 25 | — | $1.4B | ||
| Q3 25 | $91.5M | $1.4B | ||
| Q2 25 | $94.6M | $1.2B | ||
| Q1 25 | $81.5M | $932.7M | ||
| Q4 24 | $76.0M | $521.9M | ||
| Q3 24 | $114.8M | $426.4M | ||
| Q2 24 | $121.6M | $238.4M | ||
| Q1 24 | $145.5M | $237.9M |
总债务DARRMD
| Q4 25 | — | $403.9M | ||
| Q3 25 | $4.0B | $408.7M | ||
| Q2 25 | $3.9B | $658.4M | ||
| Q1 25 | $3.8B | $663.1M | ||
| Q4 24 | $3.9B | $662.9M | ||
| Q3 24 | $4.1B | $667.6M | ||
| Q2 24 | $4.3B | $697.3M | ||
| Q1 24 | $4.4B | $997.0M |
股东权益DARRMD
| Q4 25 | — | $6.3B | ||
| Q3 25 | $4.7B | $6.1B | ||
| Q2 25 | $4.6B | $6.0B | ||
| Q1 25 | $4.4B | $5.5B | ||
| Q4 24 | $4.4B | $5.3B | ||
| Q3 24 | $4.6B | $5.2B | ||
| Q2 24 | $4.5B | $4.9B | ||
| Q1 24 | $4.6B | $4.6B |
总资产DARRMD
| Q4 25 | — | $8.5B | ||
| Q3 25 | $10.5B | $8.3B | ||
| Q2 25 | $10.3B | $8.2B | ||
| Q1 25 | $10.0B | $7.6B | ||
| Q4 24 | $10.1B | $7.1B | ||
| Q3 24 | $10.6B | $7.2B | ||
| Q2 24 | $10.6B | $6.9B | ||
| Q1 24 | $10.9B | $6.8B |
负债/权益比DARRMD
| Q4 25 | — | 0.06× | ||
| Q3 25 | 0.86× | 0.07× | ||
| Q2 25 | 0.85× | 0.11× | ||
| Q1 25 | 0.86× | 0.12× | ||
| Q4 24 | 0.89× | 0.13× | ||
| Q3 24 | 0.91× | 0.13× | ||
| Q2 24 | 0.97× | 0.14× | ||
| Q1 24 | 0.95× | 0.22× |
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 | $339.7M |
| 自由现金流经营现金流 - 资本支出 | — | $311.2M |
| 自由现金流率自由现金流/营收 | — | 21.9% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | 11.59× | 0.87× |
| 过去12个月自由现金流最近4个季度 | — | $1.8B |
8季度趋势，按日历期对齐
经营现金流DARRMD
| Q4 25 | — | $339.7M | ||
| Q3 25 | $224.3M | $457.3M | ||
| Q2 25 | $145.8M | $538.8M | ||
| Q1 25 | $249.0M | $578.7M | ||
| Q4 24 | $154.4M | $308.6M | ||
| Q3 24 | $274.5M | $325.5M | ||
| Q2 24 | $146.5M | $440.1M | ||
| Q1 24 | $263.9M | $402.0M |
自由现金流DARRMD
| Q4 25 | — | $311.2M | ||
| Q3 25 | — | $414.4M | ||
| Q2 25 | — | $508.2M | ||
| Q1 25 | — | $557.9M | ||
| Q4 24 | — | $288.0M | ||
| Q3 24 | — | $307.7M | ||
| Q2 24 | — | $415.2M | ||
| Q1 24 | — | $380.8M |
自由现金流率DARRMD
| Q4 25 | — | 21.9% | ||
| Q3 25 | — | 31.0% | ||
| Q2 25 | — | 37.7% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | — | 22.5% | ||
| Q3 24 | — | 25.1% | ||
| Q2 24 | — | 33.9% | ||
| Q1 24 | — | 31.8% |
资本支出强度DARRMD
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 1.8% |
现金转化率DARRMD
| Q4 25 | — | 0.87× | ||
| Q3 25 | 11.59× | 1.31× | ||
| Q2 25 | 11.52× | 1.42× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | 1.52× | 0.90× | ||
| Q3 24 | 16.19× | 1.05× | ||
| Q2 24 | 1.86× | 1.51× | ||
| Q1 24 | 3.25× | 1.34× |
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% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
