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DARLING INGREDIENTS INC.（DAR）与WEC Energy Group（WEC）财务数据对比。点击上方公司名可切换其他公司
WEC Energy Group的季度营收约是DARLING INGREDIENTS INC.的1.6倍（$2.5B vs $1.6B），WEC Energy Group净利率更高（12.5% vs 1.2%，领先11.2%），WEC Energy Group同比增速更快（11.1% vs 10.0%），过去两年DARLING INGREDIENTS INC.的营收复合增速更高（-1.6% vs -2.7%）
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。
WEC能源集团是总部位于美国威斯康星州密尔沃基的知名能源企业，业务覆盖美国四个州，为总计440万用户提供可靠的电力及天然气供应服务，是北美地区颇具规模的区域性能源服务商。
DAR vs WEC — 直观对比
营收规模更大
WEC
是对方的1.6倍
$1.6B
营收增速更快
WEC
高出1.1%
10.0%
净利率更高
WEC
高出11.2%
1.2%
两年增速更快
DAR
近两年复合增速
-2.7%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.5B |
| 净利润 | $19.4M | $316.8M |
| 毛利率 | 24.7% | 63.7% |
| 营业利润率 | 4.6% | 17.9% |
| 净利率 | 1.2% | 12.5% |
| 营收同比 | 10.0% | 11.1% |
| 净利润同比 | 14.2% | -30.1% |
| 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DARWEC
| Q4 25 | — | $2.5B | ||
| Q3 25 | $1.6B | $2.1B | ||
| Q2 25 | $1.5B | $2.0B | ||
| Q1 25 | $1.4B | $3.1B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | $1.4B | $1.9B | ||
| Q2 24 | $1.5B | $1.8B | ||
| Q1 24 | $1.4B | $2.7B |
净利润DARWEC
| Q4 25 | — | $316.8M | ||
| Q3 25 | $19.4M | $270.2M | ||
| Q2 25 | $12.7M | $243.0M | ||
| Q1 25 | $-26.2M | $725.5M | ||
| Q4 24 | $101.9M | $453.1M | ||
| Q3 24 | $16.9M | $238.6M | ||
| Q2 24 | $78.9M | $210.0M | ||
| Q1 24 | $81.2M | $622.6M |
毛利率DARWEC
| Q4 25 | — | 63.7% | ||
| Q3 25 | 24.7% | 71.1% | ||
| Q2 25 | 23.3% | 71.6% | ||
| Q1 25 | 22.6% | 63.0% | ||
| Q4 24 | 23.5% | 67.7% | ||
| Q3 24 | 22.1% | 72.1% | ||
| Q2 24 | 22.5% | 73.5% | ||
| Q1 24 | 21.4% | 65.4% |
营业利润率DARWEC
| Q4 25 | — | 17.9% | ||
| Q3 25 | 4.6% | 21.4% | ||
| Q2 25 | 5.1% | 20.1% | ||
| Q1 25 | 2.1% | 29.8% | ||
| Q4 24 | 8.6% | 25.9% | ||
| Q3 24 | 4.2% | 20.6% | ||
| Q2 24 | 10.2% | 20.6% | ||
| Q1 24 | 9.7% | 30.3% |
净利率DARWEC
| Q4 25 | — | 12.5% | ||
| Q3 25 | 1.2% | 12.8% | ||
| Q2 25 | 0.9% | 12.1% | ||
| Q1 25 | -1.9% | 23.0% | ||
| Q4 24 | 7.2% | 19.8% | ||
| Q3 24 | 1.2% | 12.8% | ||
| Q2 24 | 5.4% | 11.9% | ||
| Q1 24 | 5.7% | 23.2% |
每股收益（稀释后）DARWEC
| 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 | $27.6M |
| 总债务越低越好 | $4.0B | $20.0B |
| 股东权益账面价值 | $4.7B | $14.1B |
| 总资产 | $10.5B | $51.5B |
| 负债/权益比越低杠杆越低 | 0.86× | 1.42× |
8季度趋势，按日历期对齐
现金及短期投资DARWEC
| Q4 25 | — | $27.6M | ||
| Q3 25 | $91.5M | $51.1M | ||
| Q2 25 | $94.6M | $23.0M | ||
| Q1 25 | $81.5M | $82.2M | ||
| Q4 24 | $76.0M | $9.8M | ||
| Q3 24 | $114.8M | $322.5M | ||
| Q2 24 | $121.6M | $224.0M | ||
| Q1 24 | $145.5M | $38.9M |
总债务DARWEC
| Q4 25 | — | $20.0B | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.9B | $18.9B | ||
| Q3 24 | $4.1B | $16.9B | ||
| Q2 24 | $4.3B | $16.9B | ||
| Q1 24 | $4.4B | $15.4B |
股东权益DARWEC
| Q4 25 | — | $14.1B | ||
| Q3 25 | $4.7B | $14.0B | ||
| Q2 25 | $4.6B | $13.7B | ||
| Q1 25 | $4.4B | $13.4B | ||
| Q4 24 | $4.4B | $12.8B | ||
| Q3 24 | $4.6B | $12.4B | ||
| Q2 24 | $4.5B | $12.4B | ||
| Q1 24 | $4.6B | $12.4B |
总资产DARWEC
| Q4 25 | — | $51.5B | ||
| Q3 25 | $10.5B | $49.8B | ||
| Q2 25 | $10.3B | $48.5B | ||
| Q1 25 | $10.0B | $48.2B | ||
| Q4 24 | $10.1B | $47.4B | ||
| Q3 24 | $10.6B | $45.2B | ||
| Q2 24 | $10.6B | $44.6B | ||
| Q1 24 | $10.9B | $43.9B |
负债/权益比DARWEC
| Q4 25 | — | 1.42× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.89× | 1.48× | ||
| Q3 24 | 0.91× | 1.36× | ||
| Q2 24 | 0.97× | 1.36× | ||
| Q1 24 | 0.95× | 1.24× |
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 | $424.6M |
| 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× | 1.34× |
| 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DARWEC
| Q4 25 | — | $424.6M | ||
| Q3 25 | $224.3M | $938.9M | ||
| Q2 25 | $145.8M | $853.3M | ||
| Q1 25 | $249.0M | $1.2B | ||
| Q4 24 | $154.4M | $581.8M | ||
| Q3 24 | $274.5M | $729.0M | ||
| Q2 24 | $146.5M | $1.0B | ||
| Q1 24 | $263.9M | $863.6M |
自由现金流DARWEC
| Q4 25 | — | — | ||
| Q3 25 | — | $-625.7M | ||
| Q2 25 | — | $23.9M | ||
| Q1 25 | — | $461.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-67.3M | ||
| Q2 24 | — | $343.5M | ||
| Q1 24 | — | $419.1M |
自由现金流率DARWEC
| Q4 25 | — | — | ||
| Q3 25 | — | -29.7% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 14.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -3.6% | ||
| Q2 24 | — | 19.4% | ||
| Q1 24 | — | 15.6% |
资本支出强度DARWEC
| Q4 25 | — | — | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 41.3% | ||
| Q1 25 | — | 22.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 42.7% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 16.6% |
现金转化率DARWEC
| Q4 25 | — | 1.34× | ||
| Q3 25 | 11.59× | 3.47× | ||
| Q2 25 | 11.52× | 3.51× | ||
| Q1 25 | — | 1.60× | ||
| Q4 24 | 1.52× | 1.28× | ||
| Q3 24 | 16.19× | 3.06× | ||
| Q2 24 | 1.86× | 4.94× | ||
| Q1 24 | 3.25× | 1.39× |
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% |
WEC
| Wisconsin | $1.9B | 73% |
| Illinois | $441.2M | 17% |
| Other States | $165.1M | 7% |
| External Revenues | $74.0M | 3% |
| Otheroperatingrevenues | $8.0M | 0% |
