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Darling Ingredients (Darling Ingredients) Net-Net Working Capital : $-33.54 (As of Dec. 2023)


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What is Darling Ingredients Net-Net Working Capital?

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.

Darling Ingredients's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $-33.54.

The industry rank for Darling Ingredients's Net-Net Working Capital or its related term are showing as below:

DAR's Price-to-Net-Net-Working-Capital is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 7.36
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Darling Ingredients Net-Net Working Capital Historical Data

The historical data trend for Darling Ingredients's Net-Net Working Capital can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Darling Ingredients Net-Net Working Capital Chart

Darling Ingredients Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -13.56 -13.15 -13.70 -27.64 -33.54

Darling Ingredients Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -35.84 -34.62 -33.52 -33.54 -

Competitive Comparison of Darling Ingredients's Net-Net Working Capital

For the Packaged Foods subindustry, Darling Ingredients's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Darling Ingredients's Price-to-Net-Net-Working-Capital Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Darling Ingredients's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Darling Ingredients's Price-to-Net-Net-Working-Capital falls into.



Darling Ingredients Net-Net Working Capital Calculation

Darling Ingredients's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as

Net-Net Working Capital(A: Dec. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(126.502+0.75 * 798.291+0.5 * 758.739-6367.393
-0-88.26)/159.534
=-33.54

Darling Ingredients's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2023 is calculated as

Net-Net Working Capital(Q: Dec. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(126.502+0.75 * 798.291+0.5 * 758.739-6367.393
-0-88.26)/159.534
=-33.54

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.

In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

This is a conservative way of estimating the company's value.


Darling Ingredients  (NYSE:DAR) Net-Net Working Capital Explanation

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.


Darling Ingredients Net-Net Working Capital Related Terms

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Darling Ingredients (Darling Ingredients) Business Description

Traded in Other Exchanges
Address
5601 N MacArthur Boulevard, Irving, TX, USA, 75038
Darling Ingredients Inc develops and manufactures sustainable ingredients for customers in the pharmaceutical, food, pet food, fuel, and fertilizer industries. It collects and transforms all aspects of animal by-product streams into ingredients, including gelatin, fats, proteins, pet food ingredients, fertilizers, and other specialty products. Also, the company recovers and converts used cooking oil and bakery remnants into feed and fuel ingredients. Darling has three primary business segments: feed ingredients (the majority of revenue), food ingredients, and fuel ingredients. It provides grease trap services for food businesses and sells various equipment for collecting and delivering cooking oil. The company derives the majority of its revenue from customers in North America.
Executives
Joseph Manzi officer: Chief Accounting Officer 5601 N. MACARTHUR BLVD., IRVING TX 75038
Robert W Day officer: EVP Chief Strategy Officer 5601 N. MACARTHUR BLVD, IRVING TX 75038
Matthew J Jansen officer: COO North America C/O DARLING INGREDIENTS INC., 5601 N. MACARTHUR BLVD, IRVING TX 75038
Patrick Mcnutt officer: EVP Chief Admin Officer 5601 N. MACARTHUR BLVD, IRVING TX 75038
Charles L Adair director 251 O'CONNOR RIDGE BLVD., SUITE 300, IRVING TX 75038
John Bullock officer: EVP Chief Strategy Officer 251 O'CONNOR RIDGE BLVD., SUITE 300, IRVING TX 75038
Randall C Stuewe director, officer: Chairman and CEO
Van Der Velden Jan officer: EVP Int Rendering&Specialties 251 O'CONNOR RIDGE BLVD, SUITE 300, IRVING TX 75038
Gary W. Mize director GEVO, INC., 345 INVERNESS DRIVE SOUTH, BUILDING C, SUITE 310, ENGLEWOOD CO 80112
Brandon Lairmore officer: EVP US Rendering Operations 4221 E. ALEXANDRIA PIKE, COLD SPRING KY 41076
Larry Barden director 5601 N. MACARTHUR BLVD, IRVING TX 75038
Enderson Guimaraes director PEPSICO, INC., 700 ANDERSON HILL ROAD, PURCHASE NY 10577
Celeste A. Clark director C/O ADVANCEPIERRE FOODS HOLDINGS, INC., 9987 CARVER ROAD, BLUE ASH OH 45242
Kurt Stoffel director 5601 N. MACARTHUR BLVD, IRVING TX 75038
Elizabeth Albright director C/O THE CHEMOURS COMPANY, 1007 MARKET STREET, WILMINGTON DE 19898