Darling Ingredients vs Dole
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KIRA’s take AI analyst
I put Darling Ingredients and Dole side by side, using each one’s latest annual report. Here is what stands out:
- Dole is the larger business, with $9.2B of revenue in fiscal 2025 against $6.1B for Darling Ingredients.
- Dole grew revenue faster (8.2%, against 7.4%).
- Darling Ingredients kept more of each dollar of sales as operating profit (4.5% operating margin, against 2.4%).
- Darling Ingredients turned more of its sales into free cash flow (11.1% FCF margin, against 0.0%).
- Dole earned a higher return on the capital invested in it (6.3%, against 3.2%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Darling Ingredients
DAR
6/11
Gross marginOperating marginNet marginFCF marginPiotroski F-scoreShare count change
Dole
DOLE
5/11
Revenue growth5-year growthReturn on capitalReturn on equityNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | DAR FY25 | DOLE FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.9B | $1.3B |
| Revenue | $6.1B | $9.2B |
| Free cash flow | $679M | $1.7M |
| Net income | $62.8M | $51.3M |
| Growth | ||
| Revenue growth | 7.4% | 8.2% |
| 5-year growth | 11.4% | 16.1% |
| Share count change | −0.8% | 0.5% |
| Profitability | ||
| Gross margin | 24.0% | 7.8% |
| Operating margin | 4.5% | 2.4% |
| Net margin | 1.0% | 0.6% |
| FCF margin | 11.1% | 0.0% |
| Return on capital | 3.2% | 6.3% |
| Return on equity | 1.4% | 3.9% |
| Balance sheet | ||
| Net debt | $3.9B | $600M |
| Net debt / EBITDA | 5.0x | 1.8x |
| Dividends and buybacks | $34.7M | $31.6M |
| Valuation & quality | ||
| P/E | 15.0x | — |
| Piotroski F-score | 7 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.