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DARLING INGREDIENTS INC.（DAR）与TRINET GROUP, INC.（TNET）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TRINET GROUP, INC.的1.3倍（$1.6B vs $1.2B），DARLING INGREDIENTS INC.同比增速更快（10.0% vs -2.2%），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% 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。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
DAR vs TNET — 直观对比
营收规模更大
DAR
是对方的1.3倍
$1.2B
营收增速更快
DAR
高出12.2%
-2.2%
两年增速更快
TNET
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $19.4M | — |
| 毛利率 | 24.7% | — |
| 营业利润率 | 4.6% | 0.1% |
| 净利率 | 1.2% | — |
| 营收同比 | 10.0% | -2.2% |
| 净利润同比 | 14.2% | — |
| 每股收益（稀释后） | $0.12 | $0.02 |
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DARTNET
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.5B | $1.2B | ||
| 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 | $1.3B |
净利润DARTNET
| Q4 25 | — | — | ||
| Q3 25 | $19.4M | $34.0M | ||
| Q2 25 | $12.7M | $37.0M | ||
| Q1 25 | $-26.2M | $85.0M | ||
| Q4 24 | $101.9M | — | ||
| Q3 24 | $16.9M | $45.0M | ||
| Q2 24 | $78.9M | $60.0M | ||
| Q1 24 | $81.2M | $91.0M |
毛利率DARTNET
| 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DARTNET
| Q4 25 | — | 0.1% | ||
| Q3 25 | 4.6% | 4.1% | ||
| Q2 25 | 5.1% | 4.1% | ||
| Q1 25 | 2.1% | 8.9% | ||
| Q4 24 | 8.6% | -2.9% | ||
| Q3 24 | 4.2% | 4.7% | ||
| Q2 24 | 10.2% | 6.5% | ||
| Q1 24 | 9.7% | 9.7% |
净利率DARTNET
| Q4 25 | — | — | ||
| Q3 25 | 1.2% | 2.8% | ||
| Q2 25 | 0.9% | 3.0% | ||
| Q1 25 | -1.9% | 6.6% | ||
| Q4 24 | 7.2% | — | ||
| Q3 24 | 1.2% | 3.6% | ||
| Q2 24 | 5.4% | 4.9% | ||
| Q1 24 | 5.7% | 7.2% |
每股收益（稀释后）DARTNET
| Q4 25 | — | $0.02 | ||
| Q3 25 | $0.12 | $0.70 | ||
| Q2 25 | $0.08 | $0.77 | ||
| Q1 25 | $-0.16 | $1.71 | ||
| Q4 24 | $0.63 | $-0.44 | ||
| Q3 24 | $0.11 | $0.89 | ||
| Q2 24 | $0.49 | $1.20 | ||
| Q1 24 | $0.50 | $1.78 |
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 | $287.0M |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $4.7B | $54.0M |
| 总资产 | $10.5B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.86× | — |
8季度趋势，按日历期对齐
现金及短期投资DARTNET
| Q4 25 | — | $287.0M | ||
| Q3 25 | $91.5M | $321.0M | ||
| Q2 25 | $94.6M | $407.0M | ||
| Q1 25 | $81.5M | $349.0M | ||
| Q4 24 | $76.0M | $360.0M | ||
| Q3 24 | $114.8M | $301.0M | ||
| Q2 24 | $121.6M | $249.0M | ||
| Q1 24 | $145.5M | $383.0M |
总债务DARTNET
| Q4 25 | — | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
股东权益DARTNET
| Q4 25 | — | $54.0M | ||
| Q3 25 | $4.7B | $110.0M | ||
| Q2 25 | $4.6B | $107.0M | ||
| Q1 25 | $4.4B | $63.0M | ||
| Q4 24 | $4.4B | $69.0M | ||
| Q3 24 | $4.6B | $129.0M | ||
| Q2 24 | $4.5B | $100.0M | ||
| Q1 24 | $4.6B | $143.0M |
总资产DARTNET
| Q4 25 | — | $3.8B | ||
| Q3 25 | $10.5B | $3.4B | ||
| Q2 25 | $10.3B | $3.7B | ||
| Q1 25 | $10.0B | $3.8B | ||
| Q4 24 | $10.1B | $4.1B | ||
| Q3 24 | $10.6B | $3.7B | ||
| Q2 24 | $10.6B | $3.7B | ||
| Q1 24 | $10.9B | $4.0B |
负债/权益比DARTNET
| Q4 25 | — | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | — | ||
| 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 | $61.0M |
| 自由现金流经营现金流 - 资本支出 | — | $43.0M |
| 自由现金流率自由现金流/营收 | — | 3.4% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 现金转化率经营现金流/净利润 | 11.59× | — |
| 过去12个月自由现金流最近4个季度 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流DARTNET
| Q4 25 | — | $61.0M | ||
| Q3 25 | $224.3M | $72.0M | ||
| Q2 25 | $145.8M | $75.0M | ||
| Q1 25 | $249.0M | $95.0M | ||
| Q4 24 | $154.4M | $65.0M | ||
| Q3 24 | $274.5M | $84.0M | ||
| Q2 24 | $146.5M | $39.0M | ||
| Q1 24 | $263.9M | $91.0M |
自由现金流DARTNET
| Q4 25 | — | $43.0M | ||
| Q3 25 | — | $55.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $73.0M |
自由现金流率DARTNET
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 5.8% |
资本支出强度DARTNET
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 1.4% |
现金转化率DARTNET
| Q4 25 | — | — | ||
| Q3 25 | 11.59× | 2.12× | ||
| Q2 25 | 11.52× | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | 1.87× | ||
| Q2 24 | 1.86× | 0.65× | ||
| Q1 24 | 3.25× | 1.00× |
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% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
