Darling Ingredients Inc. (DAR) intrinsic value & 10-year financials
Darling Ingredients Inc. (DAR) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 5.0% a year to $6.1B, with an average return on invested capital of 6.6%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $61.36
- Market cap
- $9.8B
- Revenue (FY2026)
- $6.1B
- Revenue growth (10-yr CAGR)
- 5.0%
- ROIC (10-yr avg)
- 6.6%
- Free cash flow (FY2026)
- $679.2M
DAR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $6.1B | $62.8M | $0.39 | $679.2M | 4.5% | 3.2% |
| FY2024 | $5.7B | $278.9M | $1.73 | $506.8M | 8.2% | 5.4% |
| FY2023 | $6.8B | $647.7M | $3.99 | $343.8M | 14.0% | 10.9% |
| FY2022 | $6.5B | $737.7M | $4.49 | $422.4M | 15.8% | 15.0% |
| FY2021 | $3.6B | $296.8M | $1.78 | $344.5M | 12.1% | 8.6% |
| FY2019 | $3.4B | $312.6M | $1.86 | $3.1M | 14.1% | 10.0% |
| FY2018 | $3.4B | $101.5M | $0.60 | $76.7M | 2.8% | 2.2% |
| FY2017 | $3.7B | $128.5M | $0.77 | $136.4M | 3.7% | 3.6% |
| FY2016 | $3.4B | $102.3M | $0.62 | $147.5M | 4.5% | 3.5% |
| FY2015 | $4.0B | $64.2M | $0.39 | $46.3M | 4.2% | 3.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
DARLING INGREDIENTS INC. has demonstrated mature, steady growth, with revenue compounding at 5.0% annually over the past decade.
DARLING INGREDIENTS INC. has historically struggled to out-earn its cost of capital, averaging just 6.6% ROIC.
Over the decade, DARLING INGREDIENTS INC. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, DARLING INGREDIENTS INC. is modeled at -4.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.19 per share.