$3.4 B

DAR Mkt cap, 14-Dec-2018

$812.6 M

Darling Ingredients Revenue Q3, 2018
Darling Ingredients Net income (Q3, 2018)-5.1 M
Darling Ingredients EBIT (Q3, 2018)18.2 M
Darling Ingredients Cash, 29-Sep-201881.5 M
Darling Ingredients EV5 B

Darling Ingredients Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

1.7b4.0b3.4b3.4b3.7b

Revenue growth, %

130%(14%)0%

General and administrative expense

170.8m314.0m347.5m

Operating expense total

1.6b3.2b3.5b

Depreciation and amortization

98.8m289.9m302.1m

EBIT

169.6m98.9m69.2m152.1m136.8m

EBIT margin, %

10%2%2%4%4%

Interest expense

38.1m94.2m88.9m

Pre tax profit

163.7m122.5m64.2m

Income tax expense

54.7m15.3m(69.2m)

Net Income

109.0m68.3m85.3m107.2m133.4m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2015Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

425.8m931.4m1.0b955.8m853.8m874.7m859.3m779.6m877.3m853.9m880.1m896.3m937.7m875.4m846.6m812.6m

General and administrative expense

42.6m94.9m111.8m111.2m75.0m86.6m84.3m81.5m76.2m76.5m87.9m85.5m83.1m86.9m78.6m67.4m

Operating expense total

384.1m932.0m931.5m905.9m815.0m842.9m820.0m752.9m822.9m818.3m848.7m859.3m904.4m843.6m825.0m794.4m

Depreciation and amortization

23.1m72.3m69.5m70.7m71.1m73.0m77.2m78.6m78.5m78.8m

EBIT

41.7m(564.0k)75.5m49.9m38.8m39.3m26.7m54.5m35.5m31.4m37.1m33.3m31.8m21.7m18.2m

EBIT margin, %

10%0%7%5%5%5%3%6%4%4%4%4%4%3%2%

Interest expense

5.3m58.9m26.6m25.4m24.8m23.1m34.3m23.9m24.0m23.9m21.7m22.4m22.5m23.1m23.0m20.1m

Pre tax profit

45.0m4.5m42.0m28.1m9.2m18.1m15.0m101.8m(27.5m)(6.5m)

Income tax expense

17.4m15.5m11.1m7.9m2.1m4.7m1.9m8.0m(744.0k)1.8m7.7m6.3m3.7m1.7m(1.4m)

Net Income

27.7m34.6m16.0m(7.4m)1.8m4.9m2.7m34.0m28.9m7.4m10.3m8.7m98.1m(29.1m)(5.1m)

Darling Ingredients Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

870.9m108.8m156.9m114.6m106.8m

Accounts Receivable

Inventories

65.1m401.6m344.6m330.8m358.2m

Current Assets

1.1b1.1b931.8m893.3m956.4m

PP&E

666.6m1.6b1.5b1.5b1.6b

Goodwill

701.6m1.3b1.2b1.2b1.3b

Total Assets

3.2b5.2b4.8b4.7b5.0b

Accounts Payable

302.2m

Short-term debt

19.9m54.4m47.2m23.2m16.1m

Current Liabilities

176.8m484.0m443.7m451.9m559.5m

Long-term debt

866.9m2.1b1.9b1.7b1.7b

Total Debt

886.8m2.2b2.0b1.8b1.7b

Total Liabilities

1.2b2.6b2.6b

Additional Paid-in Capital

1.5b1.5b1.5b1.5b1.5b

Retained Earnings

607.7m672.0m750.5m852.8m981.2m

Total Equity

2.0b2.1b2.3b

Debt to Equity Ratio

1 x0.8 x0.7 x

Debt to Assets Ratio

0.3 x0.4 x0.4 x0.4 x0.3 x

Financial Leverage

2.4 x2.3 x2.1 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2015Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

8.0m143.4m143.8m193.4m148.9m112.1m126.0m147.3m157.8m148.6m138.9m124.8m110.1m122.9m104.1m81.5m

Accounts Receivable

106.7m435.4m467.4m423.7m379.1m377.0m368.4m376.3m399.9m382.9m389.9m383.0m414.9m413.7m371.3m363.3m

Inventories

71.3m410.5m431.5m420.1m366.8m398.2m396.4m372.6m364.4m359.1m342.1m359.6m375.1m373.1m370.6m361.7m

Current Assets

224.3m1.1b1.1b1.1b1.0b1.0b1.0b960.3m1.0b963.0m927.3m924.9m962.2m971.1m918.2m878.5m

Goodwill

446.7m1.5b1.4b1.4b1.3b1.3b1.3b1.3b1.3b1.3b1.2b1.3b1.3b1.3b1.2b1.2b

Total Assets

1.7b5.5b5.6b5.4b4.8b5.0b4.9b4.9b4.9b4.8b4.7b4.8b4.9b5.1b4.9b4.8b

Short-term debt

86.0k62.5m68.6m60.2m48.0m81.2m50.9m46.6m30.8m27.2m25.0m19.4m18.2m16.7m7.5m11.1m

Current Liabilities

148.2m529.7m557.2m544.3m455.4m475.6m465.0m451.9m466.7m459.7m451.8m489.0m546.3m506.9m482.7m485.8m

Long-term debt

250.1m2.3b2.3b2.2b2.0b2.0b2.0b1.9b1.9b1.8b1.7b1.7b1.7b1.8b1.7b1.7b

Total Debt

250.2m2.4b2.4b2.3b2.0b2.1b2.0b2.0b1.9b1.8b1.8b1.7b1.8b1.8b1.7b1.7b

Total Liabilities

555.3m3.5b3.4b3.3b2.9b3.0b3.0b2.8b2.8b2.7b2.6b2.7b2.7b2.6b2.5b2.5b

Additional Paid-in Capital

611.8m1.5b1.5b1.5b1.5b1.5b1.5b1.5b1.5b1.5b1.5b1.5b1.5b1.5b1.5b1.5b

Retained Earnings

585.3m554.9m587.7m602.0m666.1m672.1m675.1m751.6m783.6m812.3m858.6m867.7m875.5m1.1b1.1b1.0b

Total Equity

2.1b2.1b2.1b1.9b2.0b2.0b2.0b2.1b2.1b2.1b2.2b2.2b2.4b2.3b2.3b

Debt to Equity Ratio

1 x0.9 x0.9 x0.8 x0.8 x0.7 x0.7 x0.7 x

Debt to Assets Ratio

0.1 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.3 x0.3 x

Financial Leverage

2.6 x2.6 x2.6 x2.5 x2.5 x2.5 x2.4 x2.4 x2.3 x2.2 x2.2 x2.2 x2.1 x2.1 x2.1 x

Darling Ingredients Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

109.0m85.3m107.2m133.4m

Depreciation and Amortization

98.8m269.5m269.9m289.9m302.1m

Accounts Receivable

4.4m982.0k8.2m(22.8m)3.5m

Inventories

Accounts Payable

8.5m(31.2m)(11.4m)39.3m73.4m

Cash From Operating Activities

210.7m275.2m421.3m391.0m410.6m

Cash From Investing Activities

(895.4m)(2.3b)(229.7m)(243.2m)(284.1m)

Long-term Borrowings

(580.0k)(333.8m)(609.3m)(204.4m)(149.6m)

Cash From Financing Activities

(154.9m)

Interest Paid

21.6m104.8m79.0m82.1m78.2m

Income Taxes Paid

31.4m28.3m(3.0m)23.2m26.3m

Free Cash Flow

92.4m504.1m651.2m147.5m136.4m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2015Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

86.5m34.6m16.0m(7.4m)1.8m4.9m2.7m36.7m65.5m7.4m17.7m26.4m98.1m68.9m63.8m

Depreciation and Amortization

67.1m65.7m133.2m200.5m200.0m66.4m132.6m72.3m141.8m212.4m71.1m144.1m221.3m78.6m157.1m235.9m

Accounts Receivable

949.0k7.0m(36.9m)(40.6m)7.7m12.3m22.6m7.1m(20.1m)(3.1m)(753.0k)17.7m(5.3m)(14.6m)5.2m9.7m

Accounts Payable

10.6m(63.8m)(25.2m)7.9m(10.3m)(20.0m)(1.5m)3.3m31.0m27.4m(8.4m)16.6m39.9m(38.4m)(25.7m)(23.0m)

Cash From Operating Activities

168.7m41.0m179.3m296.7m187.6m45.0m168.2m280.6m94.5m197.5m268.8m26.9m128.0m199.7m

Cash From Investing Activities

(250.8m)(2.1b)(2.2b)(2.2b)(162.2m)(50.7m)(99.1m)(59.3m)(114.0m)(170.7m)(59.9m)(140.2m)(210.7m)(55.3m)(110.7m)(188.9m)wdxefcqufszuzezftuxetqsqxt

Long-term Borrowings

(62.0k)(264.0m)(287.1m)(310.8m)(595.9m)(13.6m)(583.7m)(16.2m)(59.3m)(128.4m)(9.3m)(68.0m)(94.2m)(9.6m)(651.0m)(661.3m)

Cash From Financing Activities

(13.1m)8.5m(55.3m)(117.2m)(10.6m)(58.4m)(79.2m)(8.7m)(29.9m)

Interest Paid

9.2m35.5m47.9m75.2m57.8m26.1m37.5m20.6m41.8m62.4m19.0m38.7m58.2m19.1m39.6m58.7m

Income Taxes Paid

30.3m5.5m11.3m15.2m4.0m5.1m11.4m5.1m11.8m14.0m2.4m8.0m13.7m7.1m17.2m28.7m

Free Cash Flow

83.0m(62.5m)25.3m134.4m88.8m(8.3m)58.8m112.3m32.2m69.7m72.3m(29.7m)(11.1m)(14.0m)

Darling Ingredients Ratios

USDY, 2018

EV/EBIT

276.9 x

EV/CFO

25.2 x

EV/FCF

-359 x

Debt/Equity

0.7 x

Debt/Assets

0.3 x

Financial Leverage

2.1 x
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Darling Ingredients Employee Rating

2.870 votes
Culture & Values
2.8
Work/Life Balance
2.9
Senior Management
2.4
Salary & Benefits
3.1
Career Opportunities
2.7
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