Darling Ingredients Inc (DAR) is overvalued and JBS NV (JBS) is undervalued.
Against our estimates of intrinsic value, JBS trades at the wider discount: a margin of safety of +44%, against -40% for DAR.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.7% (average of 3 methods) values the shares at $43.98; the price of $61.63 is 40% above that value, and 77% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
Discounting its cash flows at 6.0% (average of 3 methods) values the shares at $21.43; the price of $11.90 is 44% below that value, and 87% of that value comes from beyond year five.
Leak Score 54/100 on 3 of 12 signals
| Metric | DAR | JBS |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $61.63 | $11.90 |
| Intrinsic value | $43.98 | $21.43 |
| Margin of safety | -40% | +44% |
| Leak Score | 14/100 (3/12) | 54/100 (3/12) |
| Market cap | $9.7B | $12.7B |
| Revenue growth, 5 years | 11.4% | 10.4% |
| Operating margin | 8.9% | 3.5% |
| Net margin | 9.1% | 1.2% |
| Return on equity | 12.1% | 13.4% |
| Debt to equity | 0.80 | 2.97 |
| P/E | 16.6x | 11.1x |
| Forward P/E | 10.1x | 8.7x |
| P/B | 1.9x | 1.4x |
| Dividend yield | — | 8.6% |