What is the primary revenue source for Darling Ingredients (DAR)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze DAR's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Darling Ingredients's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Darling Ingredients Makes Money: DAR Revenue Breakdown (2027)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

Operating margin improved by 20.24 percentage points year over year.

Revenue: USD 3.27B
Largest revenue segment share (Fats): 29.62%
Cost of revenue: USD 2.37B
Selling, general and administrative: USD 300.02M

View calculation evidence

YoY periods: H1 2027 compared with H1 2026

Source metrics

RevenueNet sales · RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenueCost of sales and operating expenses (excludes depreciation and amortization, shown separately below) · CostOfGoodsAndServicesSold
Selling, general and administrativeSelling, general and administrative expenses · SellingGeneralAndAdministrativeExpense
Largest revenue segment share (Fats)Fats · segment_value / revenue * 100
Operating marginOperating income · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Property, plant and equipment: USD 2.83B
Goodwill: USD 2.55B
Accounts receivable: USD 664.35M
Total liabilities: USD 5.68B
Shareholder equity: USD 5.31B

View calculation evidence

YoY periods: H1 2027 compared with H1 2026

Source metrics

GoodwillGoodwill · Goodwill
Property, plant and equipmentProperty, plant, and equipment, after accumulated depreciation, depletion, and amortization · PropertyPlantAndEquipmentNet
Shareholder equityMembers equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesTotal liabilities · Liabilities
Accounts receivableAccounts receivable · AccountsReceivableNetCurrent

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 131.6% of net income.

Net income: USD 521.63M
Operating cash flow: USD 686.46M
Cash conversion: 131.60%

View calculation evidence

YoY periods: H1 2027 compared with H1 2026

Source metrics

Net incomeNet income attributable to darling · NetIncomeLoss
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Capital expenditure data is missing, so free cash flow cannot be calculated.

Shareholders

Did the money earned actually make its way back to shareholders?

Neutral

The company returned cash to shareholders, but free cash flow data is missing, so coverage cannot be assessed.

Share repurchases: USD 73.40M
Stock issuance proceeds: USD 2.65M
Net shareholder return: USD 70.75M

View calculation evidence

YoY periods: H1 2027 compared with H1 2026

Source metrics

Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)
Stock issuance proceedsIssuance of common stock · ProceedsFromIssuanceOfCommonStock · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?