# Darling Ingredients Inc. (DAR)

> Source: Nexqual · https://nexqual.com/DAR · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Darling Ingredients Inc. (DAR), nexqual.com/DAR" · informational, not investment advice.

**Price:** USD 60.87 (-2.42% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 62.38 · day 60.3–62.62 · 52w 30.39–69.98 · market cap $9.61B · NYQ

## Key facts
- Last four reported quarters (through Jul 4, 2026): revenue $6.55B, net income $598M (9.1% margin) (SEC filings).
- Valuation: P/E 16.1x (avg 49.5x at the last 3 fiscal year-ends), EV/EBITDA 9.0x, net debt $3.69B.
- 2 of 80 tracked superinvestors hold DAR (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (12 analysts), mean target USD 82.08 (range 65–90).
- Total return with dividends: 1Y +92.1% vs S&P 500 +18.1%; 5Y -18.0% vs S&P 500 +85.1%.
- Next earnings: 2026-10-29, EPS estimate USD 1.82, revenue estimate $1.77B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.74B | $6.53B | $6.79B | $5.72B | $6.14B | $6.55B |
| Gross profit | $1.24B | $1.53B | $1.65B | $1.28B | $1.47B | — |
| Operating income | $884M | $1.03B | $950M | $468M | $273M | $951M |
| Net income | $651M | $738M | $648M | $279M | $62.8M | $598M |
| EPS (diluted) | $3.90 | $4.49 | $3.99 | $1.73 | $0.39 | — |
| Free cash flow | $430M | $422M | $344M | $507M | $679M | — |
| Gross margin | 26.2% | 23.4% | 24.2% | 22.4% | 24.0% | — |
| Operating margin | 18.7% | 15.8% | 14.0% | 8.2% | 4.5% | 14.5% |
| Net margin | 13.7% | 11.3% | 9.5% | 4.9% | 1.0% | 9.1% |
| Revenue growth | +32.7% | +37.8% | +3.9% | -15.8% | +7.4% | — |
| Cash + short-term investments | $68.9M | $127M | $127M | $76.0M | $88.7M | — |
| Total debt | $1.44B | $3.31B | $4.37B | $3.91B | $3.86B | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 4, 2026)
P/E 16.1x · P/S 1.5x · EV/EBITDA 9.0x · EV/Sales 2.0x · P/B 1.8x · Earnings yield 6.22% · Buyback yield (TTM) 0.76% · Net debt $3.69B · EV $13.3B
P/E at fiscal year-ends: Jan 2026 116.4x, Dec 2024 19.5x, Dec 2023 12.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold DAR. Change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Yacktman Asset Management |  | 0.96% | $77.4M | Added +0.9% |
| Christopher Davis | Davis Advisors | 0.04% | $9.3M | Reduced -9.1% |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 12 analysts; mean target USD 82.08 (low 65, high 90).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | JP Morgan | Target raised | Overweight | $82 → $83 |
| 2026-09-22 | UBS | Target raised | Buy | $78 → $88 |
| 2026-08-03 | Barclays | Target raised | Equal-Weight | $62 → $65 |
| 2026-07-27 | TD Cowen | Target raised | Buy | $70 → $80 |
| 2026-07-02 | Barclays | Target raised | Equal-Weight | $58 → $62 |
| 2026-06-23 | TD Cowen | Target lowered | Buy | $76 → $70 |
| 2026-06-22 | Barclays | Initiated | Equal-Weight | $58 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | +92.1% | -18.0% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | +92.5% | -3.9% |
| Volatility (annualized) | 34.3% | 37.8% |
| Max drawdown | -19.0% (May 2026→Jun 2026) | -65.8% (Nov 2021→Apr 2025) |

## Peers (Packaged Foods)
HRL (Hormel Foods Corporation) USD 20.19 +5.10% · MICC (The Magnum Ice Cream Company N.) USD 18.44 +4.18% · MKC-V (McCormick & Company, Incorporat) USD 47.12 +3.47% · SJM (The J.M. Smucker Company) USD 125.93 +3.79% · LW (Lamb Weston Holdings, Inc.) USD 54.21 +4.33% · SFD (Smithfield Foods, Inc.) USD 18.48 +1.43%

## More
Full page: https://nexqual.com/DAR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt