DAR vs JBS: Darling Ingredients and JBS compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- JBS is the larger company, worth $12.2B, about 1.3 times Darling Ingredients.
- Darling Ingredients grew revenue faster over the last year (+16.4% vs +11.7%).
- Darling Ingredients keeps more of each dollar of revenue as operating profit (14.5% vs 4.8%).
- On earnings, JBS is the cheaper stock (6.9x vs 43.7x).
- JBS's price assumes faster free cash flow growth: about 1% a year, against 0% for Darling Ingredients (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DAR | JBS |
|---|---|---|
| Market cap | $9.6B | $12.2B |
| Share price | $60.26 | $12.98 |
| Revenue (last fiscal year) | $6.1B | $86.2B |
| Free cash flow (last fiscal year) | $679M | $833M |
| Revenue growth, last year | +16.4% | +11.7% |
| Revenue growth per year, last 5 fiscal years | +6.7% | +8.7% |
| Operating margin | 14.5% | 4.8% |
| Net margin | 9.1% | 2.4% |
| Return on equity | 11.4% | 23.3% |
| P/E (trailing) | 43.7x | 6.87x |
| Price / free cash flow | 14.1x | 2.95x |
| EV / EBITDA | 9.24x | 5.14x |
| FCF growth the price implies | 0.43% | 0.88% |
| Dividend yield | — | 9.1% |
| Debt / equity | 1.08x | 4.09x |
| Fundamental grade | C | C |
| Superinvestors holding it | 4 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Darling Ingredients
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.7B | $430M | 18.7% |
| 2022 | $6.5B | $422M | 15.8% |
| 2023 | $6.8B | $344M | 14.0% |
| 2024 | $5.7B | $507M | 8.2% |
| 2025 | $6.1B | $679M | 4.5% |
JBS
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2023 | $72.9B | $877M | 1.5% |
| 2024 | $77.2B | $2.7B | 5.7% |
| 2025 | $86.2B | $833M | 4.8% |
Where the revenue comes from
Darling Ingredients · by segments, 2025
Feed Ingredients$4.0B65%
Food Ingredients$1.5B25%
Fuel Ingredients$601M10%
JBS · by regions, 2025
Beef North America$28.1B32%
Pilgrim’s Pride$18.5B21%
Brasil$15.3B17%
Seara$9.2B10%
USA Pork$8.4B10%
Australia$8.1B9%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open DAR in InvestinglyQuestions
Which is bigger, Darling Ingredients or JBS?
JBS (JBS), at $12.2B against $9.6B.
Is DAR or JBS cheaper?
By trailing P/E, JBS (6.87x) is cheaper than Darling Ingredients (43.7x). A lower multiple can also mean the market expects less growth.
Which grows faster, DAR or JBS?
Darling Ingredients: revenue grew +16.4% over the last year, against +11.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.