Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.97, read 2026-11-01
Ethical does not pass the values gate
Price50.70 USD
Fair value90.00
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-02Read Markdown61.64-17.7% to today ✓Markup gives way to Markdown first Markdown read since July
2026-08-26Read Markup62.58-19.0% to today Accumulation gives way to Markup
2026-07-26Read Accumulation63.10-19.7% to today Markdown gives way to Accumulation after an 11% rise in 3 weeks
2026-07-02Read Markdown56.99-11.0% to today ✓First review on file: Markdown
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Darling Ingredients Inc. holds its Markdown at $50.70. The statistical read favours the sellers, held for 3 days.
As held on the ledger · 2026-11-05
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 3 days
Price at the screen
$50.70
Valuation
10.19 trailing · 8.31 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.97
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
40.41%
Below 33%
Interest-bearing debt is 40.4% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
7.11%
Below 49%
Money owed to the company is 7.1% of assets, under the 49% limit.
Pass
Revenue purity
0.28%
Below 5%
Only 0.3% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Darling Ingredients's business is in a permissible area, but its interest-bearing debt is about 40% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when DAR's ethical verdict changes
Today DAR does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 42% discount to our $90.00 fair value, 14.50% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 43.7% discount to the base estimate.
Where our models see it going: fair-value estimate $90.00, with a range of $90.00 to $104.60, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Turning slaughterhouse waste into animal feed
Picture every steakhouse and abattoir sending its scraps to a plant that turns them into protein for livestock and biofuels. Darling Ingredients does exactly that across North America and beyond, lifting revenue 12 percent last year while clearing an ethical screen. Yet we pass. A forward multiple of 12.3 times and a 35 percent gap to our fair value of 85 dollars look attractive on paper, but 4 percent profit margins and 5 percent return on equity show thin value creation in a commodity-linked trade.
The unknown moat leaves the business exposed to feed-price swings and regulatory shifts on animal by-products. Even with twelve analysts calling it a strong buy at a 75-dollar median target, low returns on capital point to a business that rarely compounds at an attractive rate.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DAR trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markdown$52.30-7.0%Entry 16
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter.
2026-10-29Markdown$56.24-5.8%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Markdown$59.69+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Markdown$59.69+0.0%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Markdown$59.69+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markdown$59.69+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Markdown$59.69+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Markdown$59.69+0.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Markdown$59.69-0.9%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Markdown$60.26-2.2%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 36% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 81%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (12 analysts) rates it strong buy, with a mean price target of $76. Insiders have been net sellers over the past quarter.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
