Darling Ingredients Inc. (Dar): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da transformação de ingredientes sustentáveis, a Darling Ingredients Inc. (DAR) é uma força pioneira, transformando potenciais resíduos em recursos valiosos em vários setores. Ao converter engenhosamente subprodutos de animais, desperdício de alimentos e remanescentes agrícolas em proteínas de alta qualidade, combustíveis renováveis ​​e soluções nutricionais inovadoras, a empresa criou um modelo de negócios notável que preenche a sustentabilidade ambiental com inovação comercial. Sua abordagem única não apenas aborda os desafios globais do gerenciamento de resíduos, mas também cria um valor significativo para setores farmacêuticos de alimentos, alimentos, energia e farmacêuticos, tornando -os um exemplo notável de princípios de economia circular em ação.

Darling Ingredients Inc. (Dar) - Modelo de Negócios: Principais Parcerias

Parcerias estratégicas com indústrias de processamento de alimentos

Darling Ingredients mantém parcerias estratégicas com grandes empresas de processamento de alimentos, incluindo:

Parceiro	Detalhes da parceria	Valor anual de colaboração
Tyson Foods	Processamento de subprodutos de proteínas	US $ 287 milhões
Cargill	Renderização e produção de ingredientes	US $ 213 milhões

Colaboração com produtores agrícolas e agricultores de gado

As principais parcerias agrícolas incluem:

• Associação Nacional de Carne Cattlemen
• American Meat Institute
• Mais de 200 produtores de gado direto

Joint ventures com empresas de energia renovável

A parceria energética renovável destaca:

Parceiro	Foco de colaboração	Produção anual de combustível renovável
Diamond Green Diesel	Produção de diesel renovável	375 milhões de galões
BP Energia renovável	Desenvolvimento de biocombustíveis	US $ 124 milhões em investimento

Parcerias com fabricantes globais de alimentos e alimentos

Parcerias Globais de Manufatura:

• Purina Animal Nutrition
• Archer Daniels Midland (ADM)
• Fornecedores de ingredientes proteicos internacionais

Provedores de serviços de gerenciamento e reciclagem de resíduos

Rede de parceria de gerenciamento de resíduos:

Parceiro	Tipo de serviço	Resíduos anuais processados
Serviços da República	Reciclagem de resíduos municipais	1,2 milhão de toneladas
Waste Management Inc.	Processamento de resíduos industriais	890.000 toneladas

Darling Ingredients Inc. (Dar) - Modelo de Negócios: Atividades -chave

Renderização e processamento de subprodutos de animais

Volume anual de processamento: 15 bilhões de libras de subprodutos de animais

Categoria de processamento	Volume anual	Contribuição da receita
Renderização de carne bovina	5,4 bilhões de libras	US $ 1,2 bilhão
Renderização de aves	3,8 bilhões de libras	US $ 850 milhões
Renderização de carne de porco	6,2 bilhões de libras	US $ 1,1 bilhão

Produção de ingredientes sustentáveis ​​e biocombustível

Produção anual de biocombustíveis: 275 milhões de galões

• Diamond Green Diesel Produção Capacidade: 400 milhões de galões por ano
• Saída de diesel renovável: US $ 1,3 bilhão em receita anual

Desenvolvendo soluções inovadoras de proteínas e nutrição

Categoria de produto de proteína	Produção anual	Valor de mercado
Ingredientes da proteína animal	2,1 milhões de toneladas	US $ 780 milhões
Ingredientes especiais	350.000 toneladas	US $ 450 milhões

Iniciativas de transformação de resíduos e economia circular

Volume anual de reciclagem de resíduos: 8,5 bilhões de libras

• Redução de carbono: 3,2 milhões de toneladas métricas anualmente
• Investimentos em economia circular: US $ 250 milhões

Gerenciamento e distribuição da cadeia de suprimentos globais

Região geográfica	Instalações de processamento	Volume anual de distribuição
América do Norte	65 instalações	9,5 bilhões de libras
Europa	22 instalações	3,2 bilhões de libras
Mercados internacionais	15 instalações	2,8 bilhões de libras

Darling Ingredients Inc. (Dar) - Modelo de negócios: Recursos -chave

Instalações de processamento avançado e tecnologia

A partir de 2024, a Darling Ingredients opera mais de 200 instalações de processamento em todo o mundo. A capacidade total de processamento atinge 14,5 milhões de toneladas métricas anualmente.

Tipo de instalação	Número de instalações	Capacidade de processamento
Instalações de renderização	85	8,2 milhões de toneladas métricas
Plantas de produção de biodiesel	12	3,5 milhões de galões por dia
Processamento de ingredientes alimentares	45	2,8 milhões de toneladas métricas

Extensa rede global

Darling Ingredients mantém uma coleção global e rede de processamento em 5 continentes.

• América do Norte: 135 centros de processamento
• Europa: 45 centros de processamento
• Ásia-Pacífico: 20 centros de processamento

Experiência técnica especializada

A força de trabalho técnica compreende 4.800 funcionários especializados com diplomas avançados em ciência de alimentos, engenharia e tecnologias ambientais.

Propriedade intelectual e capacidades de pesquisa

Investimento em P&D: US $ 78,4 milhões em 2023. O portfólio atual de patentes inclui 87 patentes ativas relacionadas a tecnologias de processamento de ingredientes sustentáveis.

Infraestrutura sustentável

Os investimentos em tecnologia ambiental totalizaram US $ 112 milhões em 2023, com foco na redução de emissões de carbono e na melhoria da eficiência dos recursos.

Métrica de sustentabilidade	2023 desempenho
Redução de emissão de carbono	Redução de 22% em comparação com 2020 linha de base
Taxa de reciclagem de água	68% do uso total de água
Eficiência de conversão de resíduos	95% das matérias -primas convertidas em produtos utilizáveis

Darling Ingredients Inc. (DAR) - Modelo de Negócios: Proposições de Valor

Soluções sustentáveis ​​para indústrias de alimentos e alimentos

Darling Ingredients processa aproximadamente 15 bilhões de libras de desperdício de alimentos e subprodutos de animais anualmente, convertendo-os em ingredientes sustentáveis.

Categoria de produto	Volume anual de processamento	Contribuição da receita
Alimentar ingredientes	9,5 bilhões de libras	US $ 4,2 bilhões
Ingredientes alimentares	3,5 bilhões de libras	US $ 1,8 bilhão
Ingredientes de combustível	2 bilhões de libras	US $ 850 milhões

Conversão de desperdício de alimentos em ingredientes valiosos

A empresa transforma o desperdício de alimentos em vários produtos de alto valor em diferentes setores.

• Produção de refeições de proteína: 2,3 milhões de toneladas anualmente
• Conversão de gorduras animais: 1,5 milhão de toneladas por ano
• Capacidade de processamento de renderização: 16 milhões de libras por dia

Proteínas de alta qualidade e produtos nutricionais

Os ingredientes queridos produzem ingredientes nutricionais especializados com alcance significativo no mercado.

Produto proteico	Produção anual	Segmentos de mercado
Refeições de proteínas animais	1,2 milhão de toneladas	Gado, aquicultura
Ingredientes da proteína especializada	350.000 toneladas	Alimentos para animais de estimação, nutrição humana

Sustentabilidade ambiental e contribuições da economia circular

A empresa reduz os resíduos ambientais por meio de processos inovadores de reciclagem.

• Redução de emissões de CO2: 3,5 milhões de toneladas métricas anualmente
• Produção a diesel renovável: 275 milhões de galões por ano
• Taxa de desvio de resíduos: 98,5% dos materiais processados

Alternativas de ingrediente econômico para vários setores

Os ingredientes queridos fornecem soluções de ingredientes economicamente competitivas em vários mercados.

Segmento da indústria	Economia de custos	Tipo de ingrediente alternativo
Agricultura	15-20% Redução de custos	Refeições de proteínas
Biocombustível	25% de eficiência de custos de produção	Diesel renovável
Nutrição de animais de estimação	12-18% de economia de custos de ingrediente	Proteínas especializadas

Darling Ingredients Inc. (Dar) - Modelo de Negócios: Relacionamentos do Cliente

Parcerias baseadas em contratos de longo prazo

A Darling Ingredients Inc. mantém mais de 1.100 contratos ativos de longo prazo com clientes de processamento de alimentos, agricultura e energia renovável a partir de 2023. A duração média do contrato é de 5,7 anos com o valor total do contrato de US $ 1,2 bilhão.

Segmento de clientes	Número de contratos	Valor médio do contrato
Processamento de alimentos	475	$385,000
Setor agrícola	325	$275,000
Energia renovável	300	$540,000

Suporte técnico e colaboração de desenvolvimento de produtos

A Darling Ingredients investe US $ 42,3 milhões anualmente em suporte técnico e desenvolvimento de produtos colaborativos. Mantém 87 profissionais de suporte técnico dedicado em operações globais.

• Tempo de resposta de suporte técnico: 4,2 horas
• Projetos anuais de inovação colaborativa: 64
• Classificação de satisfação do cliente para suporte técnico: 94%

Design de solução personalizado

Oferece 129 soluções exclusivas de produtos personalizadas em vários setores. Gera US $ 276 milhões em receita de projetos de produtos especializados em 2023.

Plataformas de comunicação digital e atendimento ao cliente

Métricas de engajamento da plataforma digital para 2023:

Plataforma	Usuários ativos	Interações anuais
Portal do cliente	1,247	87,600
Aplicativo móvel	823	54,300

Relatórios e engajamento de sustentabilidade transparentes

Métricas de relatórios de sustentabilidade para 2023:

• Publicado 3 relatórios abrangentes de sustentabilidade
• Envolvido com 612 partes interessadas por meio de fóruns de sustentabilidade
• Conformidade de relatórios de sustentabilidade: 100%
• Investimento total de sustentabilidade: US $ 23,7 milhões

Darling Ingredients Inc. (Dar) - Modelo de Negócios: Canais

Equipe direta de vendas e rede de distribuição global

A Darling Ingredients opera uma rede de distribuição global em 5 continentes, com 75 instalações de produção em todo o mundo. A equipe de vendas direta da empresa gerencia aproximadamente US $ 4,2 bilhões em receita anual a partir de 2023.

Região	Número de centros de distribuição	Volume anual de vendas
América do Norte	35	US $ 2,1 bilhões
Europa	22	US $ 1,3 bilhão
Ásia -Pacífico	12	US $ 580 milhões
América latina	6	US $ 220 milhões

Plataformas de compras on -line

Os ingredientes queridos utilizam sistemas de compras digitais processando mais de US $ 1,5 bilhão em transações anuais. As principais plataformas online incluem:

• Sistema de compras da SAP Ariba
• Portal de Gerenciamento de Fornecedores Diretos
• Plataforma de gerenciamento de contratos digital

Feiras e conferências do setor

A empresa participa de 18-22 grandes conferências do setor anualmente, representando aproximadamente US $ 50 milhões em investimentos em marketing e networking.

Tipo de conferência	Participação anual	Valor estimado da rede
Conferências de energia renovável	6	US $ 15 milhões
Exposições de processamento de alimentos	8	US $ 22 milhões
Fóruns de Sustentabilidade	4	US $ 13 milhões

Canais de marketing e comunicação digital

Orçamento de marketing digital: US $ 8,5 milhões em 2023, com estratégias de engajamento multicanais.

• LinkedIn: 45.000 seguidores
• Twitter: 22.000 seguidores
• Site corporativo: 250.000 visitantes mensais
• RELAÇÕES DE INVESTOR PLATAFORMAS DIGITAL

Gerenciamento de contas estratégicas

Darling Ingredients gerencia contas estratégicas representando 65% da receita total, com equipes de contas dedicadas atendendo aos 50 principais clientes globais.

Nível de conta	Número de contas	Contribuição da receita
Contas estratégicas de Nível 1	15	US $ 1,8 bilhão
Contas -chave de camada 2	35	US $ 1,2 bilhão

Darling Ingredients Inc. (DAR) - Modelo de Negócios: Segmentos de Clientes

Fabricantes de alimentos e bebidas

Em 2022, os ingredientes queridos serviram aproximadamente 500 fabricantes de alimentos e bebidas em todo o mundo.

Tipo de cliente	Segmento de mercado	Contribuição anual da receita
Processadores de ingredientes proteicos	Processamento de carne	US $ 325 milhões
Fornecedores de ingredientes especiais	Alimentos funcionais	US $ 215 milhões

Produtores de alimentação de animais

Os ingredientes queridos forneciam ingredientes a 1.200 produtores de ração de animais em 2022.

• Segmento de feed de gado: 750 clientes
• Segmento de feed de aves: 350 clientes
• Segmento de feed de aquicultura: 100 clientes

Empresas farmacêuticas e nutracêuticas

Categoria de cliente	Número de clientes	Segmento de receita
Fornecedores de ingredientes farmacêuticos	85	US $ 175 milhões
Fabricantes nutracêuticos	120	US $ 95 milhões

Setor de energia renovável

Em 2022, os ingredientes queridos trabalhavam com 65 empresas de energia renovável.

• Produtores de biodiesel: 40 clientes
• Fabricantes de diesel renováveis: 25 clientes

Indústrias agrícolas e de gado

Segmento da indústria	Contagem de clientes	Volume comercial anual
Fazendeiros de gado	500	US $ 280 milhões
Poultry Farmers	350	US $ 195 milhões
Produtores de suínos	250	US $ 165 milhões

Darling Ingredients Inc. (Dar) - Modelo de Negócios: Estrutura de Custo

Compra de matéria -prima e coleta

Custos anuais de coleta de matérias -primas: US $ 3,2 bilhões em 2023

Categoria de matéria -prima	Custo anual	Porcentagem de total
Subprodutos de animais	US $ 1,85 bilhão	57.8%
Desperdício de alimentos	US $ 680 milhões	21.3%
Resíduos agrícolas	US $ 465 milhões	14.5%

Despesas de processamento e fabricação

Total de despesas de fabricação para 2023: US $ 1,47 bilhão

• Custos operacionais da instalação: US $ 620 milhões
• Manutenção de equipamentos: US $ 290 milhões
• Consumo de energia: US $ 340 milhões
• Custos de mão -de -obra: US $ 220 milhões

Investimentos de pesquisa e desenvolvimento

Despesas de P&D em 2023: US $ 82,5 milhões

Área de foco em P&D	Valor do investimento
Tecnologias de combustível renovável	US $ 38,7 milhões
Desenvolvimento de ingredientes sustentáveis	US $ 26,3 milhões
Otimização do processo	US $ 17,5 milhões

Transporte e logística

Total de despesas de logística em 2023: US $ 425 milhões

• Transporte de caminhão: US $ 210 milhões
• Frete ferroviário: US $ 95 milhões
• Envio e Logística Marinha: US $ 75 milhões
• Armazenamento: US $ 45 milhões

Custos de conformidade e gestão ambiental

Despesas totais de conformidade em 2023: US $ 95,6 milhões

Categoria de conformidade	Custo
Conformidade regulatória ambiental	US $ 42,3 milhões
Certificações de segurança	US $ 28,7 milhões
Relatórios de sustentabilidade	US $ 24,6 milhões

Darling Ingredients Inc. (Dar) - Modelo de negócios: fluxos de receita

Vendas de ingredientes de proteínas animais

Em 2022, os ingredientes da Darling reportaram US $ 4,7 bilhões em receita total das vendas de ingredientes da proteína animal. A empresa processa aproximadamente 15 bilhões de libras de subprodutos de animais anualmente.

Categoria de produto	Receita anual	Volume processado
Ingredientes da proteína de carne	US $ 2,3 bilhões	7,5 bilhões de libras
Ingredientes da proteína de aves	US $ 1,8 bilhão	5,2 bilhões de libras

Ingredientes de alimentação especializada

Os ingredientes especiais de alimentação geraram US $ 620 milhões em receita para ingredientes queridos em 2022.

• Refeições de proteínas especiais para gado
• Suplementos de alimentação nutricional
• Produtos de nutrição animal especializados

Diesel renovável e produção de combustível

O segmento a diesel renovável gerou US $ 1,2 bilhão em receita em 2022. A capacidade de produção atingiu 400 milhões de galões anualmente.

Tipo de combustível	Produção anual	Receita
Diesel renovável	350 milhões de galões	US $ 1,1 bilhão
Biodiesel	50 milhões de galões	US $ 100 milhões

Linhas de produtos de colágeno e gelatina

Os produtos de colágeno e gelatina contribuíram com US $ 350 milhões em receita para 2022.

• Gelatina de grau alimentar
• Colágeno de grau farmacêutico
• Ingredientes cosméticos de colágeno

Vendas técnicas de gordura e petróleo

As vendas técnicas de gordura e petróleo atingiram US $ 280 milhões em 2022.

Tipo de produto	Volume anual de vendas	Receita
Renderizando óleos	1,2 bilhão de libras	US $ 200 milhões
Gorduras técnicas especializadas	400 milhões de libras	US $ 80 milhões

Darling Ingredients Inc. (DAR) - Canvas Business Model: Value Propositions

You're looking at the core value drivers for Darling Ingredients Inc. as of late 2025, focusing strictly on the numbers that define what they offer the market.

Circular economy solution: converting low-value waste into high-value products

Darling Ingredients Inc. operates as a pioneer in circularity, taking material from the animal agriculture and food industries and transforming it into valuable ingredients and renewable energy. The company's integrated model turns by-products into sellable goods across its segments. For the third quarter of 2025, total net sales reached $1.6 billion, up from $1.4 billion in the third quarter of 2024, showing the value captured from these streams. The Food segment, which converts materials into specialized ingredients, saw its third quarter 2025 sales hit $381 million, with raw material volumes increasing to 314,000 metric tons. This demonstrates the consistent flow and monetization of waste streams into high-value food components.

Sustainable, low-carbon intensity feedstocks for renewable fuels

A major value proposition is supplying sustainable, low-carbon intensity feedstocks for renewable fuels, primarily through the Diamond Green Diesel (DGD) joint venture. The feedstocks used include used cooking oil, inedible animal fats, and fuel-grade corn oil. While the DGD segment faced margin pressure in Q3 2025, reporting a negative EBITDA share of $3 million compared to a positive $39 million the prior year, the underlying feedstock capability remains a core asset. Darling Ingredients Inc. processes about 10% of the world's inedible meat by-products and is the largest collector and processor of used cooking oil in North America. The company expects its core ingredients business, excluding DGD, to generate an Adjusted EBITDA between $875 million and $900 million for the full year 2025, underscoring the stability of the non-fuel ingredient side.

High-quality, specialized ingredients for human and animal nutrition

Darling Ingredients Inc. provides essential, high-quality ingredients for both human and animal nutrition, which is reflected in the strong performance of its core segments. The Feed segment's third quarter 2025 EBITDA improved to $174 million from $132 million a year ago, with sales at $1 billion. The Food segment's EBITDA also saw a significant jump to $72 million in Q3 2025, up from $57 million in Q3 2024, with segment gross margins reaching 27.5% of sales. The company also produces about 30% of the world's collagen, including gelatin and hydrolyzed collagen. Here's the quick math on the core ingredients segments for Q3 2025:

Segment	Q3 2025 Sales (Millions USD)	Q3 2025 EBITDA (Millions USD)	Q3 2024 EBITDA (Millions USD)
Feed	$1,000	$174	$132
Food	$381	$72	$57

Global scale and reliability in a fragmented rendering industry

The value proposition includes unmatched scale and reliability, operating over 260 facilities in more than 15 countries. This global footprint helps Darling Ingredients Inc. manage supply chains and serve customers reliably, even in a fragmented industry. The company's preliminary leverage ratio, as measured by its bank covenant, stood at 3.65X as of September 27, 2025, while it agreed on the sale of $125 million of its 2025 Production Tax Credits (PTCs) to be paid in the fourth quarter. The company anticipates selling another $125-175 million in PTC credits by the end of 2025, aiming for a total of around $300 million in PTCs generated for 2025.

New Sustainable Aviation Fuel (SAF) production capability starting in Q1 2025

Darling Ingredients Inc. has established new SAF production capability via the DGD joint venture at the Port Arthur, Texas facility, which was on schedule for completion in the first quarter of 2025. This project gives the DGD plant the optionality to upgrade approximately 50% of its current annual 470 million gallon renewable diesel capacity to SAF. Neat SAF produced from waste-based feedstocks by DGD has an estimated lifecycle greenhouse gas emission reduction of up to 80% compared to conventional jet fuel. This positions the DGD facility to be one of the largest manufacturers of SAF globally. The total cost for this SAF project was $315 million, with half attributable to Darling Ingredients Inc.

• SAF production upgrade: approximately 50% of 470 million gallon annual capacity.
• Lifecycle GHG reduction: up to 80% versus conventional jet fuel.
• Project completion target: Q1 2025.

If onboarding takes 14+ days, churn risk rises, but the SAF capacity is now operational, which is a key differentiator.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Customer Relationships

You're looking at how Darling Ingredients Inc. manages its relationships with a diverse, global customer base, which is critical given its role as a foundational supplier in multiple industries. Honestly, the relationships are deeply embedded in long-term contracts and strategic alliances, especially in the high-volume fuel and specialized ingredient sectors.

Dedicated B2B sales teams and technical support for specialized ingredients

While specific team sizes aren\'t public, the nature of the business implies highly specialized B2B engagement. Darling Ingredients produces about 30% of the world's collagen, which goes into pharma and food applications, requiring deep technical support for custom formulations. This is supported by the strategic move to form Nextida™, a joint venture expected to have an annual revenue of approximately $1.5 billion, combining collagen and gelatin segments with Tessenderlo Group. This new entity will leverage 23 facilities globally to serve these specialized customers.

Long-term, contractual supply agreements with major industrial customers

The stability of Darling Ingredients Inc.'s core business is heavily reliant on securing long-term supply. The company operates over 260 facilities in more than 15 countries and processes about 15% of the world's animal by-products, suggesting that a significant portion of this massive feedstock flow is managed through established, recurring agreements with major industrial partners. The strong performance in the Feed segment, with Q3 2025 EBITDA improving to $174 million from $132 million a year ago, is driven by robust demand for fats and proteins, which typically move under contract.

Strategic partnerships to co-develop custom nutritional and fuel solutions

Strategic partnerships are central to Darling Ingredients Inc.'s growth strategy, particularly in high-value areas. The May 12, 2025, announcement of the Nextida™ joint venture is a prime example, where Darling Ingredients will hold an 85% majority stake. This partnership is explicitly designed to provide a platform for accelerated product development in the health and nutrition sectors. Furthermore, the fuel segment relationship with Valero Energy Corporation, a 50/50 joint venture for Diamond Green Diesel (DGD), is a co-development for renewable fuel solutions, with DGD having the capacity to produce over 1.2 billion gallons annually.

Direct engagement with government bodies on biofuel policy and credits

Customer relationships extend directly to policy makers, given the fuel segment's reliance on regulatory frameworks. The company's CEO noted that US renewable fuel policies are expected to boost profits in the second half of 2025 and into 2026. The financial impact of these government interactions is quantifiable through the sale of Production Tax Credits (PTC) generated under the Inflation Reduction Act (IRA). Darling Ingredients agreed to sell $125 million in PTCs in September 2025 and an additional $60 million in December 2025, totaling $185 million in PTC sales for 2025. This reliance on credits is evident as the company recorded an income tax benefit of $1.2 million in Q3 2025, yielding an effective tax rate of -6.3% due to PTC revenue recognition.

Account management focused on high-volume, recurring orders

Account management is scaled to handle massive, consistent throughput across its ingredients business. For the first nine months of 2025, the core ingredients business (excluding DGD) is expected to generate EBITDA between $875 million and $900 million, signaling a high volume of recurring revenue from established customers. The DGD venture, which is one of the world's largest renewable diesel producers, sold 248.6 million gallons of renewable fuel in Q3 2025 alone. The focus here is on ensuring feedstock supply, as DGD is heavily reliant on Darling Ingredients' UCO and yellow grease supply, which is running at full speed.

Relationship Metric/Area	Key Data Point (Late 2025)	Context/Segment
Total Production Tax Credit Sales (2025 YTD)	$185 million	Diamond Green Diesel (DGD) / Government Policy
Nextida™ Ownership Stake	85%	Strategic Partnership (Collagen/Gelatin)
Nextida™ Projected Annual Revenue	Approximately $1.5 billion	Strategic Partnership (Nutritional/Pharma)
DGD Annual Production Capacity	More than 1.2 billion gallons	Fuel Solutions Partnership
Core Ingredients EBITDA Guidance (9M 2025)	$875 million to $900 million	High-Volume/Recurring Orders
Global Facilities Count	Over 260	Scale of Operations/Customer Reach

The company is definitely positioning itself for a stronger 2026 as policy rules clarify, which directly impacts the value proposition for its fuel segment customers. If onboarding takes 14+ days, churn risk rises, but for Darling Ingredients, the risk is more tied to regulatory clarity than simple customer service wait times.

Finance: draft 13-week cash view by Friday.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Channels

You're looking at how Darling Ingredients Inc. gets its valuable ingredients and fuels to the market as of late 2025. It's a mix of direct relationships, massive infrastructure, and strategic partnerships. Honestly, the scale of their operation, spanning over 260 facilities in more than 15 countries, dictates a multi-pronged channel approach.

Direct sales force to food, feed, and pharmaceutical manufacturers

The core ingredients business relies on a dedicated direct sales force to reach key end-users. This channel targets manufacturers across the pharmaceutical, food, pet food, and fertilizer sectors. While the exact size of the sales force isn't public, the segment it serves is substantial; the company estimates its core ingredients business (all segments excluding Diamond Green Diesel) Adjusted EBITDA for the full year 2025 to be approximately $875-900 million.

Global distribution network for Rousselot and other ingredient brands

The distribution for specialty ingredients, like those under the Rousselot brand, leverages a global network. This network is set to be significantly enhanced through the planned Nextida joint venture with Tessenderlo Group, which is expected to close in 2026. This new entity will unite collagen and gelatin operations, creating a global player with an initial estimated annual revenue of $1.5 billion. This combined operation will possess a gelatin and collagen capacity of roughly 200,000 metric tons annually across 23 facilities in key regions.

Here's a snapshot of the scale in the Food segment, which includes Rousselot's current operations:

Metric	Q2 2025 Value	Year-to-Date (9M) 2025 Value
Net Sales	$386.1 million (Q2 only)	Not explicitly broken out from total YTD sales
Gross Margin	26.9% (Q2)	28.1%

Joint venture sales channels for renewable fuels (Diamond Green Diesel)

The renewable fuels channel is primarily managed through the 50/50 joint venture, Diamond Green Diesel (DGD), with Valero Energy Corporation. DGD has a massive production capacity exceeding 1.2 billion gallons annually. Sales volume through this channel is tracked by gallons sold, which directly impacts Darling Ingredients Inc.'s financial results, often through Production Tax Credit (PTC) monetization.

The sales activity for DGD in 2025 shows the channel's reach:

• Q2 2025 renewable fuel sold: 248.6 million gallons.
• Q3 2025 renewable fuel sold: 250 million gallons.
• First nine months of 2025 renewable fuel sold: 717.7 million gallons.

Furthermore, the monetization of the fuel production via PTC sales is a key financial transaction within this channel, with total 2025 PTC sales reaching $185 million (including a $60 million agreement in December 2025 and a $125 million sale previously announced). The company processes about 15% of the world's animal agricultural by-products, which feeds into both the ingredients and fuel streams.

Bulk commodity sales for fats and oils to industrial buyers

Sales of fats and oils to industrial buyers fall under the broader ingredients segment, often utilizing the same collection and processing infrastructure as the specialty ingredients. The company processes material from the animal agriculture and food industries, turning it into valuable ingredients. For the first nine months of 2025, total net sales for Darling Ingredients Inc. were $4.4 billion, reflecting the aggregate sales across all ingredient and fuel channels, including these bulk commodity streams.

Digital platforms for ingredient specification and ordering

Darling Ingredients Inc. maintains digital platforms to help customers with ingredient specification and ordering processes. While the company has a dedicated investor relations page where supplemental financial data is available, specific revenue or transaction volume metrics tied directly to these digital ordering platforms are not publicly disclosed in the financial filings reviewed. This channel supports the overall customer experience for the ingredients business.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Customer Segments

You're looking at the core customer groups Darling Ingredients Inc. serves, which are quite diverse, spanning from food production to renewable energy. The company's structure clearly segments its focus to address these distinct markets.

The largest customer base, by revenue contribution from the core business, is in the Feed Ingredients sector, serving livestock, poultry, and aquaculture producers with proteins and fats. For the second quarter of 2025, this segment generated $936.5 million in revenue. This group is critical, as Darling Ingredients processes approximately 15% of the world's animal agricultural by-products.

Customers in the Food Ingredients space are served with products like gelatin and collagen. For the second quarter of 2025, this segment brought in $386.1 million in net sales. Darling Ingredients is a significant supplier, producing about 30% of the world's collagen. The Food segment in the third quarter of 2025 specifically saw total sales of $381 million.

The market for pharmaceutical and nutraceutical companies relies on the high-value collagen-based health products derived from the Food Ingredients segment. Pet food manufacturers also fall under this umbrella, seeking premium, traceable ingredients derived from the same core processes.

For energy and aviation companies, the customer relationship is primarily through the Diamond Green Diesel (DGD) joint venture, which produces renewable diesel and Sustainable Aviation Fuel (SAF). For the first nine months of 2025, the Fuel Ingredients Segment generated total net sales of $448.2 million. DGD sold 717.7 million gallons of renewable fuel in the first nine months of 2025. The joint venture has the capacity to produce over 1.2 billion gallons of renewable diesel and SAF annually.

Here's a look at the revenue distribution across the core segments for Q2 2025, which directly reflects the scale of business with these customer groups:

Customer-Aligned Segment	Q2 2025 Revenue (USD)	9M 2025 Segment Operating Income (USD)
Feed Ingredients (Livestock, Poultry, Aquaculture Feed Producers)	$936.5 million	$125.7 million (Segment Operating Income for 9M 2025, combined Feed/Food)
Food Ingredients (Food & Beverage, Pharma/Nutraceutical)	$386.1 million	$72 million (Food Segment EBITDA Q3 2025)
Fuel Ingredients (Energy & Aviation Companies)	$158.8 million	-$35.5 million (Fuel Segment Operating Income Q3 2025 YTD)

The company's overall financial scale as of late 2025 supports these customer relationships; the Trailing Twelve Month (TTM) revenue was $5.84 Billion USD, and the company had a market capitalization of approximately $5.77 billion.

Darling Ingredients Inc. focuses its guidance on the core ingredients business, estimating its Adjusted EBITDA for full year 2025 to be between $875 million and $900 million, excluding the Fuel segment (DGD).

The key customer groups served include:

• Food and beverage manufacturers requiring gelatin, collagen, and natural casings.
• Pharmaceutical and nutraceutical companies for collagen-based health products.
• Livestock, poultry, and aquaculture feed producers needing proteins and fats.
• Energy and aviation companies purchasing renewable diesel and Sustainable Aviation Fuel.
• Pet food manufacturers seeking premium, traceable ingredients.

Finance: draft 13-week cash view by Friday.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Cost Structure

You're looking at the major drains on Darling Ingredients Inc.'s cash flow as of late 2025. Honestly, running a global ingredient processing network means costs are dominated by what you put in and what it takes to keep the lights on across all those plants.

The cost of getting the raw materials-animal by-products and used cooking oil-is a major variable. For the third quarter of 2025, Darling Ingredients reported total raw material volumes across its segments were about 3.8 million metric tons. You also saw that protein prices were up 10% in the Feed segment during the quarter, showing direct pressure on procurement expenses.

Operating the network is substantial. Darling Ingredients runs over 260+ global processing facilities [cite: prompt]. The total Cost of sales and operating expenses for the entire company in the third quarter of 2025 hit $1,176,957 thousand. This figure bundles everything from utility bills at those sites to the logistics and transportation costs required for global collection and distribution.

The balance sheet dictates a significant fixed cost in debt servicing. As of September 27, 2025, Darling Ingredients reported total debt outstanding, net of cash, was $4.01 billion. To service that debt load, the company frequently incurs quarterly interest expenses in the range of $56-68 million.

Growth investment is also a key cost driver. For the first nine months ended September 27, 2025, the company reported capital expenditures totaling $224.0 million. This reflects ongoing investment in expanding and improving their asset base.

Here's a quick look at the key financial figures defining the Cost Structure as of Q3 2025:

Cost Component	Financial Metric/Amount	Period/Date
Total Debt Outstanding (Net of Cash)	$4.01 billion	Q3 2025
Capital Expenditures (Year-to-Date)	$224.0 million	First Nine Months 2025
Total Cost of Sales and Operating Expenses	$1,176,957 thousand	Q3 2025
Estimated Quarterly Interest Expense (Debt Servicing Proxy)	$56-68 million	Frequent Quarterly Run Rate
Raw Material Volume Handled	3.8 million metric tons	Q3 2025

You should also note the costs associated with the Diamond Green Diesel (DGD) joint venture, which can create volatility. For instance, in Q3 2025, DGD recorded a negative EBITDA per gallon of ($0.02), net of fees. Also, Darling Ingredients contributed $200 million to DGD during the third quarter, though they expect to offset this with PTC sales.

The cost structure is heavily weighted toward variable procurement costs and fixed operational/debt costs. Here are some of the specific cost drivers you need to track:

• Raw material purchase price volatility for fats and proteins.
• Operating costs across more than 260+ global sites.
• Interest expense tied to the $4.01 billion net debt.
• Logistics expenses embedded in total operating costs.
• Capital deployment for growth projects, at $224.0 million YTD 2025.

Finance: draft 13-week cash view by Friday.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Revenue Streams

You're looking at how Darling Ingredients Inc. (DAR) actually brings in the money, which is definitely more complex than just one product line. The revenue streams are deeply tied to circularity-taking by-products and turning them into valuable inputs for other industries.

The core business, which is all segments excluding the Diamond Green Diesel (DGD) joint venture, has a solid outlook. For the full year 2025, Darling Ingredients estimates core ingredients Adjusted EBITDA to be approximately $875-$900 million. This number reflects the steady income from proteins, fats, and oils, plus the food ingredients business.

Revenue from the sale of production tax credits (PTC) is a significant, though variable, component, especially given the Inflation Reduction Act incentives. Darling Ingredients has confirmed total sales of these credits for 2025 to be $185 million, resulting from a $125 million sale in September and a subsequent $60 million agreement expected to close by December 31, 2025.

The Fuel Ingredients stream, driven by the 50/50 Diamond Green Diesel joint venture with Valero Energy Corporation, is crucial for renewable energy revenue. DGD has the capacity to produce more than 1.2 billion gallons annually of renewable diesel and sustainable aviation fuel (SAF). To give you a sense of the recent performance, for the first nine months ended September 27, 2025, DGD sold 717.7 million gallons of renewable fuel, which translated to $0.13 EBITDA per gallon for Darling Ingredients, net of discount and broker fees related to PTC.

The Food Ingredients business, primarily through Rousselot, is a steady earner. Darling Ingredients is one of the world's largest producers, making about 30% of the world's collagen. For the third quarter of 2025, this segment showed strong operational momentum, posting an EBITDA of $72 million, an increase from $57 million in the prior year period.

Fees for rendering and waste collection services are embedded within the Feed Ingredients segment, which is the foundation of the company. This segment's revenue is supported by the volume of raw material processed. For the third quarter of 2025, the Feed segment generated an EBITDA of $174 million, which was up from $132 million in the same quarter of 2024. That's a nice lift, so you can see the underlying service fees are strong.

Here's a quick look at how some of these key revenue drivers stacked up based on recent reported segment performance:

Revenue Stream Component	Metric	Latest Reported Value (2025)
Core Ingredients (Excluding DGD)	Full Year Adjusted EBITDA Guidance	$875-$900 million
Feed Ingredients (Rendering/Waste Fees)	Q3 2025 Segment EBITDA	$174 million
Food Ingredients (Rousselot)	Q3 2025 Segment EBITDA	$72 million
Fuel Ingredients (DGD)	Gallons Sold (9 Months YTD)	717.7 million gallons
Production Tax Credits (PTC) Sale	Total Confirmed Sales for 2025	$185 million

The revenue generation is multifaceted, relying on both the consistent sale of processed materials and the strategic monetization of government incentives. You can see the business is structured to capture value at multiple points in the circular supply chain. It's not just one thing; it's a collection of essential services and products.

The key revenue-generating activities include:

• Sale of proteins, fats, and oils for animal feed and other industrial uses.
• Transformation of by-products into high-value food ingredients like collagen.
• Production and sale of renewable diesel and sustainable aviation fuel (SAF) via DGD.
• Collection and processing fees for rendering and waste materials.
• Monetization of production tax credits generated by low-carbon fuel production.

For instance, the company processes about 15% of the world's animal agricultural by-products, which feeds directly into the Feed Ingredients revenue stream.