Darling Ingredients Inc. (DAR) Income Statement
DAR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsDAR revenue and net income
Where DAR's revenue goes
2025Each bar shows an amount and its share of revenue. DAR kept 1.0% of revenue as net income.
DAR profit margins
DAR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.4% | −2.0% | +11.4% | +6.1% |
| Gross profit | −24.1% | −14.1% | +1.9% | +2.8% |
| Operating income | −15.5% | −27.3% | −1.7% | +10.7% |
| Net income | −77.5% | −56.0% | −26.7% | −2.2% |
| EPS (diluted) | −42.2% | −40.7% | −13.3% | +5.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
DAR quarterly EPS vs estimates
Darling Ingredients beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.89).
DAR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.14B | $5.72B | $6.79B | $6.53B | $4.74B | $3.57B | $3.36B | $3.39B | $3.66B | $3.40B |
| Cost of revenue | $5.17B | $4.44B | $5.14B | $5.00B | $3.50B | $2.69B | $2.59B | $2.65B | $2.88B | $2.64B |
| Gross profit | $969.5M | $1.28B | $1.65B | $1.53B | $1.24B | $883.1M | $774.8M | $740.6M | $786.4M | $756.4M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $551.2M | $492.1M | $542.5M | $436.6M | $391.5M | $378.5M | $356.9M | $306.2M | $346.3M | $314.0M |
| Total operating expenses | $573.7M | $809.6M | $695.3M | $500.5M | $357.5M | $452.2M | $299.0M | $486.4M | $617.1M | $601.9M |
| Operating income | $395.8M | $468.2M | $949.7M | $1.03B | $884.5M | $430.9M | $475.8M | $255.0M | $169.4M | $154.7M |
| Interest income | $209.9M | $243.0M | $246.1M | $131.7M | $58.5M | $71.8M | $79.6M | $93.4M | $95.6M | $25.7M |
| Interest expense | $223.2M | $253.9M | $259.2M | $125.6M | $62.1M | $72.7M | $78.7M | $86.4M | $88.9M | $94.2M |
| Income before taxes | $61.0M | $247.5M | $720.0M | $893.7M | $821.4M | $353.6M | $380.4M | $118.0M | $64.2M | $122.5M |
| Income taxes | −$9.4M | −$38.3M | $59.6M | $146.6M | $164.1M | $53.3M | $59.5M | $12.0M | −$69.2M | $15.3M |
| Net income | $62.8M | $278.9M | $647.7M | $737.7M | $650.9M | $296.8M | $312.6M | $101.5M | $128.5M | $102.3M |
| EBITDA | $792.8M | $1.01B | $1.48B | $1.41B | $1.20B | $776.5M | $784.6M | $430.2M | $455.2M | $438.0M |
| EPS (diluted) | $0.96 | $1.66 | $4.09 | $4.60 | $3.90 | $1.96 | $1.39 | $0.89 | $0.24 | $0.62 |
| Gross margin | 15.8% | 22.4% | 24.2% | 23.4% | 26.2% | 24.7% | 23.0% | 21.9% | 21.5% | 22.3% |
| Operating margin | 6.4% | 8.2% | 14.0% | 15.8% | 18.7% | 12.1% | 14.1% | 7.5% | 4.6% | 4.6% |
| Net margin | 1.0% | 4.9% | 9.5% | 11.3% | 13.7% | 8.3% | 9.3% | 3.0% | 3.5% | 3.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.72B | $1.55B | $1.72B | $1.56B | $1.48B | $1.38B | $1.42B | $1.42B | $1.46B | $1.42B | $1.61B | $1.63B |
| Cost of revenue | $916.1M | $1.28B | $1.42B | $1.30B | $1.26B | $1.19B | $1.08B | $1.11B | $1.13B | $1.12B | $1.18B | $1.24B |
| Gross profit | $808.0M | $274.0M | $298.4M | $261.2M | $223.3M | $182.7M | $333.8M | $313.6M | $326.9M | $303.6M | $436.4M | $386.5M |
| Sales, general & admin | $150.9M | $149.1M | $151.9M | $139.6M | $138.1M | $121.6M | $107.5M | $115.7M | $129.7M | $139.1M | $132.6M | $137.7M |
| Total operating expenses | $150.9M | $149.1M | $153.9M | $145.3M | $145.5M | $129.0M | $211.3M | $253.5M | $178.4M | $166.5M | $277.6M | $208.1M |
| Operating income | $657.1M | $124.9M | $144.5M | $115.9M | $77.8M | $53.7M | $122.4M | $60.1M | $148.5M | $137.2M | $158.8M | $178.4M |
| Interest income | — | — | $52.6M | $52.6M | $48.0M | $56.7M | $53.7M | $63.2M | — | — | — | $67.9M |
| Interest expense | $163.8M | $54.1M | $55.5M | $56.9M | $52.8M | $58.0M | $54.9M | $66.8M | $69.2M | $62.9M | $68.5M | $70.3M |
| Income before taxes | $499.9M | $175.7M | $47.9M | $19.8M | $18.3M | −$25.0M | $78.2M | $1.6M | $82.1M | $85.5M | $94.5M | $112.7M |
| Income taxes | $110.6M | $38.6M | −$11.0M | −$1.2M | $4.1M | −$1.2M | −$25.5M | −$17.5M | $774,000 | $3.9M | $7.2M | −$15.4M |
| Net income | $387.3M | $134.3M | $56.9M | $19.4M | $12.7M | −$26.2M | $101.9M | $16.9M | $78.9M | $81.2M | $84.5M | $125.0M |
| EBITDA | $682.4M | $360.7M | $242.9M | $200.8M | $192.2M | $156.8M | $261.3M | $192.0M | $276.0M | $275.9M | $300.9M | $309.0M |
| EPS (diluted) | $2.41 | $0.86 | $0.75 | $0.16 | $0.17 | −$0.12 | $0.66 | $0.21 | $0.29 | $0.50 | $0.64 | $0.76 |
| Gross margin | 46.9% | 17.7% | 17.4% | 16.7% | 15.1% | 13.3% | 23.5% | 22.1% | 22.5% | 21.4% | 27.0% | 23.8% |
| Operating margin | 38.1% | 8.1% | 8.4% | 7.4% | 5.3% | 3.9% | 8.6% | 4.2% | 10.2% | 9.7% | 9.8% | 11.0% |
| Net margin | 22.5% | 8.7% | 3.3% | 1.2% | 0.9% | −1.9% | 7.2% | 1.2% | 5.4% | 5.7% | 5.2% | 7.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in DAR's financial statements (latest annual report filed March 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
DAR financial results
In fiscal year 2025 (ended December 31, 2025), Darling Ingredients reported revenue of $6.1 billion, up 7.4% from the year before. It had net income of $62.8 million (down 77.5%), a net profit margin of 1.0%. Diluted earnings per share came to $0.96. Over five years revenue grew at an average rate of 11.4% a year.
See the DAR stock overview for the latest quote and news, or the DAR chart for price history and technical indicators.
DAR income statement FAQ
What is Darling Ingredients's annual revenue?
Darling Ingredients reported total revenue of $6.1 billion for fiscal year 2025, which ended on December 31, 2025. That was up 7.4% from $5.7 billion the previous year.
Is Darling Ingredients profitable?
Yes. Darling Ingredients reported net income of $62.8 million in fiscal 2025, a net profit margin of 1.0%; its operating margin was 6.4%.
What is Darling Ingredients's gross margin?
Darling Ingredients's gross margin was 15.8% in fiscal 2025: for every $100 of revenue, Darling Ingredients kept $16 after the direct cost of its products and services.
How fast is Darling Ingredients growing?
Revenue grew 11.4% a year on average over the last five fiscal years, from $3.6 billion to $6.1 billion.
What are Darling Ingredients's earnings per share?
Darling Ingredients earned $0.96 per diluted share in fiscal 2025, compared with $1.66 a year earlier.
When will Darling Ingredients report its next earnings?
Darling Ingredients is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Darling Ingredients's fiscal year end?
Darling Ingredients's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 3, 2026.