Filing Flows › Darling Ingredients (DAR) › Q4 2025
Darling Ingredients (DAR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 3, 2026
Darling Ingredients (DAR) reported revenue of $1.7B for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +9% from the quarter before. Operating margin was 5.7%, net earnings $56.9M (3.3% of revenue).
Darling Ingredients, Q4 2025: revenue $1.7B (+21% year over year), operating margin 5.7%, net earnings $56.9M, operating cash flow $441M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +9% | +21% |
| Gross profit | $429M | +11% | +29% |
| Operating profit | $97.4M | +36% | -20% |
| Net earnings | $56.9M | +194% | -44% |
| Operating cash flow | $441M | +96% | +185% |
What changed
Revenue was $1.7B in Q4 2025, up 21% year over year and up 9% from the previous quarter. Fats was the largest line at 28% of revenue.
Gross margin was 25.1%, up 1.6 points from a year earlier. Operating profit was $0.10B, a 5.7% margin (down 2.9 points year over year). Operating profit fell $0.02B even though revenue rose $0.29B versus a year earlier, so costs grew faster than sales. Operating expenses grew 57% against revenue growth of 21%. The fastest-growing cost line was Other operating costs (+73%). Net earnings were $0.06B, down 44% year over year. The effective tax rate was -23.0%.
Operating cash flow was $0.44B (up 185% year over year), 748% of net income including minority interests. Non-cash charges added back $0.14B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.23B.
Questions
What was Darling Ingredients' revenue in the fourth quarter 2025?
Darling Ingredients (DAR) reported revenue of $1.7B for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +9% from the quarter before.
Was Darling Ingredients profitable in the fourth quarter 2025?
Operating profit was $97.4M (5.7% of revenue) and net earnings $56.9M.