Is the business good?
How good a business is DAR?
Darling Ingredients Inc. earns 8.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
8.3%
Return on invested capital · cost of capital 9.0% · 0.68 points below what the capital costs: growth destroys value
- Operating margin
- 15%
Operating margin · Packaged Foods median 8.2% · 12 months to Q2 2026
- Share count, year on year
- +0.56%
Share count, year on year · flat: no meaningful dilution
- Gross margin
- 26%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 12% |
| FY2021 | 19% |
| FY2022 | 16% |
| FY2023 | 14% |
| FY2024 | 8.2% |
| FY2025 | 4.5% |
Details›
- Gross margin12 months to Q2 2026
- 26%
- Operating margin12 months to Q2 2026
- 15%
- Net margin12 months to Q2 2026
- 9.1%
- Revenue, trailing twelve months
- $6.55B
- Net income, trailing twelve months
- $598M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.