Darling Ingredients - Public Comps and Valuation Multiples

Darling Ingredients Overview

About Darling Ingredients

Darling Ingredients Inc develops and manufactures sustainable ingredients for customers in the pharmaceutical, food, pet food, fuel, and fertilizer industries. It collects and transforms all aspects of animal by-product streams into ingredients, including gelatin, fats, proteins, pet food ingredients, fertilizers. Also, the company recovers and converts used cooking oil and bakery remnants into feed and fuel ingredients. Darling has three primary business segments which are feed ingredients contributing the majority of revenue, food ingredients, and fuel ingredients. It provides grease trap services for food businesses and sells various equipment for collecting and delivering cooking oil. The company derives the majority of its revenue from customers in North America.

Founded

1962

HQ

Employees

15.8K+

Website

darlingii.com

Sectors

Biomass

Financials

LTM Revenue $5.9B

LTM EBITDA $1.0B

EV

$9.1B

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Darling Ingredients Financials

As of September 2025, Darling Ingredients reported last 12-month revenue of $5.9B and EBITDA of $1.0B.

In the same period, Darling Ingredients generated $1.4B in LTM gross profit and $152M in net income.

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Darling Ingredients P&L

In the most recent fiscal year, Darling Ingredients reported revenue of $5.7B and EBITDA of $1.0B.

Darling Ingredients expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$5.9B	XXX	$5.7B	XXX	XXX	XXX
Gross Profit	$1.4B	XXX	$1.3B	XXX	XXX	XXX
Gross Margin	24%	XXX	22%	XXX	XXX	XXX
EBITDA	$1.0B	XXX	$1.0B	XXX	XXX	XXX
EBITDA Margin	17%	XXX	18%	XXX	XXX	XXX
EBIT	$389M	XXX	$282M	XXX	XXX	XXX
EBIT Margin	7%	XXX	5%	XXX	XXX	XXX
Net Profit	$152M	XXX	$279M	XXX	XXX	XXX
Net Margin	3%	XXX	5%	XXX	XXX	XXX
Net Debt	XXX	XXX	$4.0B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Darling Ingredients including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $5.9B. EBITDA for the last twelve months was $1.0B. In the most recent fiscal year, Darling Ingredients achieved $5.7B in revenue and $1.0B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$5.9B	Analyst estimates available to subscribers	$5.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$1.4B	Analyst estimates available to subscribers	$1.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	23.8% gross margin	Analyst estimates available to subscribers	22.4% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.0B	Analyst estimates available to subscribers	$1.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	17.5% EBITDA margin	Analyst estimates available to subscribers	17.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$389M	Analyst estimates available to subscribers	$282M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	6.6% EBIT margin	Analyst estimates available to subscribers	4.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$152M	Analyst estimates available to subscribers	$279M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	2.6% net profit margin	Analyst estimates available to subscribers	4.9% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$4.0B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Darling Ingredients

This financial data table provides comprehensive performance metrics for Darling Ingredients, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Darling Ingredients generated $5.9B in revenue over the last twelve months.
The company achieved $1.0B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $1.4B.
Net income over the last twelve months reached $152M.

Fiscal Year Performance

In the most recent fiscal year, Darling Ingredients reported $5.7B in total revenue.
Fiscal year EBITDA was $1.0B.
The company maintained a gross profit margin of 22.4% in the most recent fiscal year.
EBITDA margin for the fiscal year was 17.6%.
Net profit margin reached 4.9% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Darling Ingredients. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Darling Ingredients Stock Performance

Darling Ingredients has current market cap of $5.0B, and EV of $9.1B.

Market Cap Evolution

Darling Ingredients Stock Data

As of October 2, 2025, Darling Ingredients's stock price is $31.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$9.1B	$5.0B	XXX	XXX	XXX	XXX	$0.95

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Darling Ingredients Valuation Multiples

Darling Ingredients's trades at 1.6x EV/Revenue multiple, and 9.0x EV/EBITDA.

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Darling Ingredients Financial Valuation Multiples

As of October 2, 2025, Darling Ingredients has market cap of $5.0B and EV of $9.1B.

Equity research analysts estimate Darling Ingredients's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Darling Ingredients has a P/E ratio of 32.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$5.0B	XXX	$5.0B	XXX	XXX	XXX
EV (current)	$9.1B	XXX	$9.1B	XXX	XXX	XXX
EV/Revenue	1.6x	XXX	1.6x	XXX	XXX	XXX
EV/EBITDA	8.9x	XXX	9.0x	XXX	XXX	XXX
EV/EBIT	23.4x	XXX	32.2x	XXX	XXX	XXX
EV/Gross Profit	6.5x	XXX	n/a	XXX	XXX	XXX
P/E	32.6x	XXX	17.8x	XXX	XXX	XXX
EV/FCF	20.3x	XXX	17.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Darling Ingredients Margins & Growth Rates

Darling Ingredients's last 12 month revenue growth is 4%

Darling Ingredients's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.

Darling Ingredients's rule of 40 is 26% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Darling Ingredients's rule of X is 28% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Darling Ingredients Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	4%	XXX	4%	XXX	XXX	XXX
EBITDA Margin	17%	XXX	18%	XXX	XXX	XXX
EBITDA Growth	22%	XXX	-18%	XXX	XXX	XXX
Rule of 40	26%	XXX	22%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	28%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	17%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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