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DARLING INGREDIENTS INC.（DAR）与TEREX CORP（TEX）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TEREX CORP的1.2倍（$1.6B vs $1.3B），TEREX CORP净利率更高（4.8% vs 1.2%，领先3.5%），DARLING INGREDIENTS INC.同比增速更快（10.0% vs 6.2%），过去两年TEREX CORP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。
特雷克斯公司是美国知名的设备制造企业，业务遍布美洲、欧洲、澳大利亚及亚太地区，主营物料加工机械、废弃物回收处理设备、移动式高空作业平台，以及电力行业专用设备，为全球多领域客户提供专业解决方案。
DAR vs TEX — 直观对比
营收规模更大
DAR
是对方的1.2倍
$1.3B
营收增速更快
DAR
高出3.8%
6.2%
净利率更高
TEX
高出3.5%
1.2%
两年增速更快
TEX
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.3B |
| 净利润 | $19.4M | $63.0M |
| 毛利率 | 24.7% | 18.8% |
| 营业利润率 | 4.6% | 10.4% |
| 净利率 | 1.2% | 4.8% |
| 营收同比 | 10.0% | 6.2% |
| 净利润同比 | 14.2% | 2963.6% |
| 每股收益（稀释后） | $0.12 | $0.95 |
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DARTEX
| Q4 25 | — | $1.3B | ||
| Q3 25 | $1.6B | $1.4B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.5B | $1.4B | ||
| Q1 24 | $1.4B | $1.3B |
净利润DARTEX
| Q4 25 | — | $63.0M | ||
| Q3 25 | $19.4M | $65.0M | ||
| Q2 25 | $12.7M | $72.0M | ||
| Q1 25 | $-26.2M | $21.0M | ||
| Q4 24 | $101.9M | $-2.2M | ||
| Q3 24 | $16.9M | $88.0M | ||
| Q2 24 | $78.9M | $140.7M | ||
| Q1 24 | $81.2M | $108.5M |
毛利率DARTEX
| Q4 25 | — | 18.8% | ||
| Q3 25 | 24.7% | 20.3% | ||
| Q2 25 | 23.3% | 19.6% | ||
| Q1 25 | 22.6% | 18.7% | ||
| Q4 24 | 23.5% | 15.9% | ||
| Q3 24 | 22.1% | 20.2% | ||
| Q2 24 | 22.5% | 23.8% | ||
| Q1 24 | 21.4% | 23.0% |
营业利润率DARTEX
| Q4 25 | — | 10.4% | ||
| Q3 25 | 4.6% | 10.1% | ||
| Q2 25 | 5.1% | 8.7% | ||
| Q1 25 | 2.1% | 5.6% | ||
| Q4 24 | 8.6% | 4.2% | ||
| Q3 24 | 4.2% | 10.1% | ||
| Q2 24 | 10.2% | 14.0% | ||
| Q1 24 | 9.7% | 12.2% |
净利率DARTEX
| Q4 25 | — | 4.8% | ||
| Q3 25 | 1.2% | 4.7% | ||
| Q2 25 | 0.9% | 4.8% | ||
| Q1 25 | -1.9% | 1.7% | ||
| Q4 24 | 7.2% | -0.2% | ||
| Q3 24 | 1.2% | 7.3% | ||
| Q2 24 | 5.4% | 10.2% | ||
| Q1 24 | 5.7% | 8.4% |
每股收益（稀释后）DARTEX
| Q4 25 | — | $0.95 | ||
| Q3 25 | $0.12 | $0.98 | ||
| Q2 25 | $0.08 | $1.09 | ||
| Q1 25 | $-0.16 | $0.31 | ||
| Q4 24 | $0.63 | $-0.03 | ||
| Q3 24 | $0.11 | $1.31 | ||
| Q2 24 | $0.49 | $2.08 | ||
| Q1 24 | $0.50 | $1.60 |
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 | $772.0M |
| 总债务越低越好 | $4.0B | $2.6B |
| 股东权益账面价值 | $4.7B | $2.1B |
| 总资产 | $10.5B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.86× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资DARTEX
| Q4 25 | — | $772.0M | ||
| Q3 25 | $91.5M | $509.0M | ||
| Q2 25 | $94.6M | $374.0M | ||
| Q1 25 | $81.5M | $298.0M | ||
| Q4 24 | $76.0M | $388.0M | ||
| Q3 24 | $114.8M | $352.0M | ||
| Q2 24 | $121.6M | $319.3M | ||
| Q1 24 | $145.5M | $364.9M |
总债务DARTEX
| Q4 25 | — | $2.6B | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | $2.6B | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
股东权益DARTEX
| Q4 25 | — | $2.1B | ||
| Q3 25 | $4.7B | $2.0B | ||
| Q2 25 | $4.6B | $2.0B | ||
| Q1 25 | $4.4B | $1.8B | ||
| Q4 24 | $4.4B | $1.8B | ||
| Q3 24 | $4.6B | $2.0B | ||
| Q2 24 | $4.5B | $1.8B | ||
| Q1 24 | $4.6B | $1.7B |
总资产DARTEX
| Q4 25 | — | $6.1B | ||
| Q3 25 | $10.5B | $6.2B | ||
| Q2 25 | $10.3B | $6.2B | ||
| Q1 25 | $10.0B | $5.8B | ||
| Q4 24 | $10.1B | $5.7B | ||
| Q3 24 | $10.6B | $3.8B | ||
| Q2 24 | $10.6B | $3.8B | ||
| Q1 24 | $10.9B | $3.8B |
负债/权益比DARTEX
| Q4 25 | — | 1.23× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | 1.41× | ||
| 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 | $205.0M |
| 自由现金流经营现金流 - 资本支出 | — | $171.0M |
| 自由现金流率自由现金流/营收 | — | 13.0% |
| 资本支出强度资本支出/营收 | — | 2.6% |
| 现金转化率经营现金流/净利润 | 11.59× | 3.25× |
| 过去12个月自由现金流最近4个季度 | — | $322.0M |
8季度趋势，按日历期对齐
经营现金流DARTEX
| Q4 25 | — | $205.0M | ||
| Q3 25 | $224.3M | $154.0M | ||
| Q2 25 | $145.8M | $102.0M | ||
| Q1 25 | $249.0M | $-21.0M | ||
| Q4 24 | $154.4M | $177.0M | ||
| Q3 24 | $274.5M | $116.4M | ||
| Q2 24 | $146.5M | $66.5M | ||
| Q1 24 | $263.9M | $-33.9M |
自由现金流DARTEX
| Q4 25 | — | $171.0M | ||
| Q3 25 | — | $130.0M | ||
| Q2 25 | — | $78.0M | ||
| Q1 25 | — | $-57.0M | ||
| Q4 24 | — | $128.0M | ||
| Q3 24 | — | $87.4M | ||
| Q2 24 | — | $42.5M | ||
| Q1 24 | — | $-68.9M |
自由现金流率DARTEX
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 5.2% | ||
| Q1 25 | — | -4.6% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | -5.3% |
资本支出强度DARTEX
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.7% |
现金转化率DARTEX
| Q4 25 | — | 3.25× | ||
| Q3 25 | 11.59× | 2.37× | ||
| Q2 25 | 11.52× | 1.42× | ||
| Q1 25 | — | -1.00× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | 1.32× | ||
| Q2 24 | 1.86× | 0.47× | ||
| Q1 24 | 3.25× | -0.31× |
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% |
TEX
| Aerials Segment | $466.0M | 35% |
| Materials Processing Segment | $428.0M | 32% |
| Materials Processing Equipment | $279.0M | 21% |
| Specialty Equipment | $148.0M | 11% |
