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DARLING INGREDIENTS INC.（DAR）与施乐（XRX）财务数据对比。点击上方公司名可切换其他公司
施乐的季度营收约是DARLING INGREDIENTS INC.的1.3倍（$2.0B vs $1.6B），施乐同比增速更快（25.7% vs 10.0%），过去两年施乐的营收复合增速更高（16.2% 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。
施乐控股是源自美国的知名办公设备服务商，面向全球超160个国家提供打印机与数码文档相关产品及服务。1959年推出Xerox 914后，施乐成为静电复印市场的开创者，品牌名“xerox”甚至在英语中成为复印的代名词，公司总部现位于美国康涅狄格州诺沃克。
DAR vs XRX — 直观对比
营收规模更大
XRX
是对方的1.3倍
$1.6B
营收增速更快
XRX
高出15.7%
10.0%
两年增速更快
XRX
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.0B |
| 净利润 | $19.4M | — |
| 毛利率 | 24.7% | — |
| 营业利润率 | 4.6% | — |
| 净利率 | 1.2% | — |
| 营收同比 | 10.0% | 25.7% |
| 净利润同比 | 14.2% | — |
| 每股收益（稀释后） | $0.12 | $-0.62 |
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DARXRX
| Q4 25 | — | $2.0B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.5B | $1.6B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | $1.4B | $1.5B |
净利润DARXRX
| Q4 25 | — | — | ||
| Q3 25 | $19.4M | $-760.0M | ||
| Q2 25 | $12.7M | $-106.0M | ||
| Q1 25 | $-26.2M | $-90.0M | ||
| Q4 24 | $101.9M | — | ||
| Q3 24 | $16.9M | $-1.2B | ||
| Q2 24 | $78.9M | $18.0M | ||
| Q1 24 | $81.2M | $-113.0M |
毛利率DARXRX
| 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DARXRX
| Q4 25 | — | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 8.6% | — | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | 10.2% | — | ||
| Q1 24 | 9.7% | — |
净利率DARXRX
| Q4 25 | — | — | ||
| Q3 25 | 1.2% | -38.8% | ||
| Q2 25 | 0.9% | -6.7% | ||
| Q1 25 | -1.9% | -6.2% | ||
| Q4 24 | 7.2% | — | ||
| Q3 24 | 1.2% | -78.9% | ||
| Q2 24 | 5.4% | 1.1% | ||
| Q1 24 | 5.7% | -7.5% |
每股收益（稀释后）DARXRX
| Q4 25 | — | $-0.62 | ||
| Q3 25 | $0.12 | $-6.01 | ||
| Q2 25 | $0.08 | $-0.87 | ||
| Q1 25 | $-0.16 | $-0.75 | ||
| Q4 24 | $0.63 | $-0.21 | ||
| Q3 24 | $0.11 | $-9.71 | ||
| Q2 24 | $0.49 | $0.11 | ||
| Q1 24 | $0.50 | $-0.94 |
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 | $512.0M |
| 总债务越低越好 | $4.0B | $4.0B |
| 股东权益账面价值 | $4.7B | $444.0M |
| 总资产 | $10.5B | $9.8B |
| 负债/权益比越低杠杆越低 | 0.86× | 9.05× |
8季度趋势，按日历期对齐
现金及短期投资DARXRX
| Q4 25 | — | $512.0M | ||
| Q3 25 | $91.5M | $479.0M | ||
| Q2 25 | $94.6M | $449.0M | ||
| Q1 25 | $81.5M | $336.0M | ||
| Q4 24 | $76.0M | $576.0M | ||
| Q3 24 | $114.8M | $521.0M | ||
| Q2 24 | $121.6M | $485.0M | ||
| Q1 24 | $145.5M | $685.0M |
总债务DARXRX
| Q4 25 | — | $4.0B | ||
| Q3 25 | $4.0B | $4.1B | ||
| Q2 25 | $3.9B | $3.5B | ||
| Q1 25 | $3.8B | $2.7B | ||
| Q4 24 | $3.9B | $2.8B | ||
| Q3 24 | $4.1B | $2.8B | ||
| Q2 24 | $4.3B | $3.2B | ||
| Q1 24 | $4.4B | $3.2B |
股东权益DARXRX
| Q4 25 | — | $444.0M | ||
| Q3 25 | $4.7B | $365.0M | ||
| Q2 25 | $4.6B | $1.1B | ||
| Q1 25 | $4.4B | $1.1B | ||
| Q4 24 | $4.4B | $1.1B | ||
| Q3 24 | $4.6B | $1.3B | ||
| Q2 24 | $4.5B | $2.4B | ||
| Q1 24 | $4.6B | $2.4B |
总资产DARXRX
| Q4 25 | — | $9.8B | ||
| Q3 25 | $10.5B | $10.1B | ||
| Q2 25 | $10.3B | $8.9B | ||
| Q1 25 | $10.0B | $8.2B | ||
| Q4 24 | $10.1B | $8.4B | ||
| Q3 24 | $10.6B | $8.3B | ||
| Q2 24 | $10.6B | $9.5B | ||
| Q1 24 | $10.9B | $9.9B |
负债/权益比DARXRX
| Q4 25 | — | 9.05× | ||
| Q3 25 | 0.86× | 11.10× | ||
| Q2 25 | 0.85× | 3.11× | ||
| Q1 25 | 0.86× | 2.56× | ||
| Q4 24 | 0.89× | 2.62× | ||
| Q3 24 | 0.91× | 2.11× | ||
| Q2 24 | 0.97× | 1.34× | ||
| Q1 24 | 0.95× | 1.35× |
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 | $208.0M |
| 自由现金流经营现金流 - 资本支出 | — | $192.0M |
| 自由现金流率自由现金流/营收 | — | 9.5% |
| 资本支出强度资本支出/营收 | — | 0.8% |
| 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 | — | $187.0M |
8季度趋势，按日历期对齐
经营现金流DARXRX
| Q4 25 | — | $208.0M | ||
| Q3 25 | $224.3M | $116.0M | ||
| Q2 25 | $145.8M | $-11.0M | ||
| Q1 25 | $249.0M | $-89.0M | ||
| Q4 24 | $154.4M | $351.0M | ||
| Q3 24 | $274.5M | $116.0M | ||
| Q2 24 | $146.5M | $123.0M | ||
| Q1 24 | $263.9M | $-79.0M |
自由现金流DARXRX
| Q4 25 | — | $192.0M | ||
| Q3 25 | — | $104.0M | ||
| Q2 25 | — | $-15.0M | ||
| Q1 25 | — | $-94.0M | ||
| Q4 24 | — | $346.0M | ||
| Q3 24 | — | $108.0M | ||
| Q2 24 | — | $117.0M | ||
| Q1 24 | — | $-87.0M |
自由现金流率DARXRX
| Q4 25 | — | 9.5% | ||
| Q3 25 | — | 5.3% | ||
| Q2 25 | — | -1.0% | ||
| Q1 25 | — | -6.5% | ||
| Q4 24 | — | 21.5% | ||
| Q3 24 | — | 7.1% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | — | -5.8% |
资本支出强度DARXRX
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.5% |
现金转化率DARXRX
| Q4 25 | — | — | ||
| Q3 25 | 11.59× | — | ||
| Q2 25 | 11.52× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | — | ||
| Q2 24 | 1.86× | 6.83× | ||
| Q1 24 | 3.25× | — |
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% |
XRX
| Other | $596.0M | 29% |
| Manufactured Product Other | $485.0M | 24% |
| Supplies Paper And Other Sales | $483.0M | 24% |
| IT Solutions Segment | $155.0M | 8% |
| CA | $128.0M | 6% |
| IT Products | $100.0M | 5% |
| Rental And Other | $52.0M | 3% |
| Financial Service | $29.0M | 1% |
