Darling Ingredients vs Dole
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The short version
- 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%).
| Latest fiscal year | DAR · FY25 | DOLE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.0B | $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 | 15.2x | — |
| Piotroski F-score | 7 | 6 |
Revenue
FY16
DAR $3.4B
DOLE —
FY17
DAR $3.7B
DOLE —
FY18
DAR $3.4B
DOLE —
FY19
DAR $3.4B
DOLE $4.2B
FY20
DAR $3.6B
DOLE $4.3B
FY21
DAR $4.7B
DOLE $5.9B
FY22
DAR $6.5B
DOLE $8.0B
FY23
DAR $6.8B
DOLE $8.2B
FY24
DAR $5.7B
DOLE $8.5B
FY25
DAR $6.1B
DOLE $9.2B
DAR
DOLE
Operating margin
FY16
DAR 4.6%
DOLE —
FY17
DAR 4.6%
DOLE —
FY18
DAR 7.5%
DOLE —
FY19
DAR 14.1%
DOLE 1.1%
FY20
DAR 12.1%
DOLE 1.5%
FY21
DAR 18.7%
DOLE −0.2%
FY22
DAR 15.8%
DOLE 2.2%
FY23
DAR 14.0%
DOLE 3.3%
FY24
DAR 8.2%
DOLE 3.3%
FY25
DAR 4.5%
DOLE 2.4%
DAR
DOLE
Free cash flow
FY16
DAR $147M
DOLE —
FY17
DAR $136M
DOLE —
FY18
DAR $76.7M
DOLE —
FY19
DAR $3.1M
DOLE $48.3M
FY20
DAR $345M
DOLE $121M
FY21
DAR $430M
DOLE −$42.2M
FY22
DAR $422M
DOLE $153M
FY23
DAR $344M
DOLE $221M
FY24
DAR $507M
DOLE $180M
FY25
DAR $679M
DOLE $1.7M
DAR
DOLE
Return on capital
FY16
DAR 3.6%
DOLE —
FY17
DAR 4.4%
DOLE —
FY18
DAR 5.8%
DOLE —
FY19
DAR 9.8%
DOLE —
FY20
DAR 8.5%
DOLE —
FY21
DAR 15.5%
DOLE −0.4%
FY22
DAR 14.4%
DOLE 7.5%
FY23
DAR 10.8%
DOLE 9.5%
FY24
DAR 5.4%
DOLE 9.1%
FY25
DAR 3.2%
DOLE 6.3%
DAR
DOLE
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.