Darling Ingredients Inc. has expanded its revenue consistently while facing significant pressure on its operating and net income margins, driven by increased scale in sustainable natural ingredient production. The company's diversified segments across Feed, Food, and Fuel Ingredients leverage a broad global footprint and strategic joint ventures, notably with Valero Energy. However, rising input costs, commodity price volatility, and substantial indebtedness have compressed profits and challenged returns. Capital deployment favors reinvestment to support asset growth and joint ventures over immediate shareholder returns, underscoring the tension between sustaining expansion and managing financial leverage.