# DARLING INGREDIENTS INC. (DAR) — Stock CV

Darling Ingredients Inc. is a $9.50B consumer staples company. Revenue grew 14.9% over the last year, it keeps 9¢ of every dollar of sales as profit, and its net debt equals ~2.8 years of free cash flow. It trades at 15.9× earnings — around the middle of its own history.

> Darling Ingredients Inc is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a wide range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, animal feed, industrial, fuel, bioenergy and fertilizer industries.

## Identity

- **Ticker**: DAR
- **Sector**: Consumer Defensive
- **Industry**: Fats & Oils
- **Headquarters**: IRVING, TX
- **Employees**: 15 000
- **Website**: https://www.darlingii.com
- **Market cap**: $9.50B
- **Last price**: $60.19
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $6.55B
- **Net income**: $598M
- **Free cash flow**: $1.35B
- **Net debt**: $3.85B
- **P/E**: 15.9
- **Revenue growth (YoY)**: 14.9%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 82 |
| Growth | 37 |
| Profitability | 35 |
| Health | 26 |
| Quality | 95 |
| Moat | 43 |

## Qualifications (beginner checklist) — 8 of 10 passed

- [x] Revenue growing — +14.9% YoY
- [x] Profitable — $598M TTM
- [ ] Profit growing — -55.6% YoY
- [x] Generates cash — $1.35B TTM
- [x] Debt under control — ~2.8y of cash flow to repay
- [x] Established company — $9.50B market cap
- [x] Not printing shares — -3.4% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 21/100
- [x] Valuation not extreme — P/E 15.9

## Experience (career milestones)

- **Q3 2026** — 2 open-market insider purchases: ~1K shares bought by insiders
- **FY2022** — Best year on record: $738M net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $3.40B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak

## Strengths

- Revenue growing 14.9% year over year
- Strong cash conversion — FCF is 20.6% of revenue
- Piotroski F-Score 8/9 — fundamentally strong checklist

## Watch-outs

- Thin interest coverage (1.2×)

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $4.74B | $651M | $430M |
| FY2022 | $6.53B | $738M | $422M |
| FY2023 | $6.79B | $648M | $344M |
| FY2024 | $5.72B | $279M | $507M |
| FY2025 | $6.14B | $62.8M | $679M |

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Source: https://stockcv.com/DAR — derived from company filings; may be delayed or incomplete. Information, not investment advice.