Darling Ingredients Inc
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Darling Ingredients Inc (DAR). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Feed Ingredients [Member] | $2.07B 58.0% | $3.04B 64.1% · +46.7% | $4.54B 69.5% · +49.3% | $4.47B 65.9% · -1.5% | $3.68B 64.3% · -17.8% | $3.99B 65.0% · +8.6% |
| Food Ingredients [Member] | $1.19B 33.2% | $1.27B 26.8% · +7.2% | $1.46B 22.3% · +14.8% | $1.75B 25.8% · +20.0% | $1.49B 26.1% · -15.0% | $1.55B 25.2% · +3.8% |
| Fuel Ingredients [Member] | $314.1M 8.8% | $430.2M 9.1% · +37.0% | $533.6M 8.2% · +24.0% | $563.4M 8.3% · +5.6% | $550.5M 9.6% · -2.3% | $600.8M 9.8% · +9.1% |
| Corporate Segment [Member] | $0 0.0% | $0 0.0% | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Feed Ingredients [Member] | $96.6M 4.7% | $394.8M 13.0% | $506.3M 11.2% | – | – | – |
| Food Ingredients [Member] | $83.4M 7.0% | $134.0M 10.5% | $176.6M 12.1% | – | – | – |
| Fuel Ingredients [Member] | $317.3M 101.0% | $425.1M 98.8% | $435.9M 81.7% | $425.3M 75.5% | – | – |
| Corporate Segment [Member] | -$66.3M | -$69.4M | – | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| North America | $1.96B 54.9% | $2.87B 60.5% · +46.3% | $4.22B 64.6% · +47.2% | $4.17B 61.4% · -1.3% | $3.25B 56.9% · -22.0% | $3.46B 56.3% · +6.3% |
| Europe | $1.30B 36.3% | $1.52B 32.1% · +17.3% | $1.77B 27.1% · +16.4% | $1.69B 24.9% · -4.4% | $1.63B 28.5% · -3.8% | $1.79B 29.1% · +9.8% |
| South America | $38.2M 1.1% | $31.4M 0.7% · -17.8% | $187.3M 2.9% · +495.8% | $534.1M 7.9% · +185.1% | $504.5M 8.8% · -5.5% | $570.9M 9.3% · +13.2% |
| China | $202.1M 5.7% | $253.2M 5.3% · +25.3% | $284.7M 4.4% · +12.4% | $308.6M 4.5% · +8.4% | $266.5M 4.7% · -13.6% | $261.4M 4.3% · -1.9% |
| Other Geographical Areas [Member] | $74.4M 2.1% | $67.7M 1.4% · -9.0% | $68.1M 1.0% · +0.6% | $88.3M 1.3% · +29.5% | $67.3M 1.2% · -23.8% | $61.4M 1.0% · -8.7% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by product line
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Fats [Member] | $804.7M 22.5% | $1.38B 29.1% · +71.6% | $2.16B 33.0% · +56.2% | $1.90B 28.1% · -11.7% | $1.46B 25.6% · -23.1% | $1.78B 29.0% · +21.6% |
| Proteins [Member] | $830.2M 23.2% | $1.02B 21.6% · +23.2% | $1.48B 22.6% · +44.4% | $1.67B 24.6% · +13.2% | $1.48B 26.0% · -11.2% | $1.41B 23.0% · -5.1% |
| Food Ingredients, Products and Services [Member] | $947.9M 26.5% | $961.6M 20.3% · +1.4% | $1.12B 17.2% · +16.7% | $1.48B 21.8% · +31.6% | $1.23B 21.6% · -16.5% | $1.25B 20.4% · +1.7% |
| Bioenergy [Member] | $293.2M 8.2% | $426.9M 9.0% · +45.6% | $533.6M 8.2% · +25.0% | $563.4M 8.3% · +5.6% | $550.5M 9.6% · -2.3% | $600.8M 9.8% · +9.1% |
| Used Cooking Oil [Member] | $176.7M 4.9% | $319.1M 6.7% · +80.6% | $519.1M 7.9% · +62.7% | $497.7M 7.3% · -4.1% | $351.3M 6.1% · -29.4% | $445.5M 7.3% · +26.8% |
| Other Rendering [Member] | $178.6M 5.0% | $173.4M 3.7% · -2.9% | $200.9M 3.1% · +15.9% | $243.5M 3.6% · +21.2% | $293.6M 5.1% · +20.6% | $295.7M 4.8% · +0.7% |
| Bakery [Member] | $183.8M 5.1% | $287.4M 6.1% · +56.4% | $333.4M 5.1% · +16.0% | $255.2M 3.8% · -23.5% | $190.5M 3.3% · -25.4% | $195.4M 3.2% · +2.6% |
| Other, Products And Services [Member] | $135.9M 3.8% | $166.0M 3.5% · +22.2% | $189.7M 2.9% · +14.3% | $175.3M 2.6% · -7.6% | $148.2M 2.6% · -15.5% | $155.6M 2.5% · +5.0% |
| Biofuels [Member] | $20.9M 0.6% | $3.4M 0.1% · -83.8% | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 11, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.