Darling Ingredients (DAR) Stock Analysis & Winston Score

Darling Ingredients collects waste materials from food production — things like used cooking oil, animal fat, and meat scraps — and turns them into useful products. Its main outputs include animal feed ingredients, fertilizers, and renewable fuels. The company serves food manufacturers, restaurants, farms, and energy producers across multiple industries. Darling makes money by charging fees to collect waste and then selling the processed materials to customers. It operates in over 15 countries, with a large presence in North America and Europe, making it one of the largest renderers and recyclers of food waste in the world. A key part of its business is Diamond Green Diesel, a joint venture with Valero Energy that produces renewable diesel from waste fats and oils. Growth depends heavily on demand for low-carbon fuels, but the business faces risk from falling renewable diesel margins and potential changes to government biofuel incentive programs.