DARDEN RESTAURANTS INC DRI
Darden Restaurants, Inc. ("Darden," the "Company," "we," "us," or "our") is a full-service restaurant company, and as of May 31, 2026, we owned and operated 2,202 restaurants through subsidiaries in the United States under the Olive Garden®, LongHorn Steakhouse®, Yard House®, Ruth's Chris Steak House® ("Ruth's Chris"), Cheddar's Scratch Kitchen®, The Capital Grille®, Chuy's®, Seasons 52®, Eddie V's Prime Seafood® ("Eddie V's"), Bahama Breeze®, and The Capital Burger® trademarks. As of May 31, 2026, we also had 167 restaurants operated by independent third parties pursuant to area development and franchise agreements, four restaurants operating under contractual agreements, and one restaurant that we jointly own with a third party and operate independently.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.21B | $12.08B | $11.39B | $10.49B | $9.63B | $7.20B | $7.81B | $8.51B | $8.08B | $7.17B |
| Gross profit | $2.68B | $2.47B | $2.29B | $1.99B | $1.90B | $1.40B | $1.17B | $1.59B | $1.49B | $1.33B |
| SG&A | $514.4M | $520.3M | $479.2M | $386.1M | $373.2M | $396.2M | $376.4M | $405.5M | $409.8M | $387.7M |
| Total operating expenses | $11.63B | $10.71B | $10.08B | $9.29B | $8.47B | $6.55B | $7.76B | $7.68B | $7.31B | $6.49B |
| Operating income | $1.58B | $1.36B | $1.31B | $1.20B | $1.16B | $648.7M | $47.9M | $832.5M | $766.8M | $677.5M |
| Interest expense | $126.5M | $115.9M | $93.5M | $50.2M | $40.9M | $47.5M | $49.3M | $44.3M | $152.4M | $34.4M |
| Pre-tax income | $1.39B | $1.19B | $1.18B | $1.12B | $1.09B | $576.5M | -$161.0M | $782.3M | $605.7M | $637.3M |
| Income tax | $174.9M | $136.2M | $145.0M | $137.0M | $138.8M | $55.9M | $111.8M | $63.7M | $1.9M | $154.8M |
| Net income | $1.21B | $1.05B | $1.03B | $981.9M | $952.8M | $629.3M | -$52.4M | $713.4M | $596.0M | $479.1M |
| EPS, basic | 10.45 | 8.93 | 8.57 | 8.06 | 7.46 | 4.83 | -0.43 | 5.78 | 4.81 | 3.85 |
| EPS, diluted | 10.38 | 8.86 | 8.51 | 7.99 | 7.39 | 4.77 | -0.43 | 5.69 | 4.73 | 3.80 |
| Shares, diluted (wtd. avg.) | $116.3M | $118.4M | $120.8M | $122.9M | $129.0M | $131.8M | $122.7M | $125.4M | $126.0M | $126.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $219.5M | $240.0M | $194.8M | $416.2M | $472.1M | $1.21B | $763.3M | $457.3M | $146.9M | $233.1M |
| Receivables | $129.9M | $93.8M | $79.1M | $80.2M | $72.0M | $68.2M | $49.8M | $88.3M | $83.7M | $75.9M |
| Inventory | $326.3M | $311.6M | $290.5M | $287.9M | $270.6M | $190.8M | $206.9M | $207.3M | $205.3M | $178.9M |
| Total current assets | $942.9M | $937.7M | $822.8M | $997.7M | $1.18B | $1.87B | $1.10B | $892.6M | $553.6M | $587.9M |
| Property, plant and equipment | — | — | — | — | — | — | $2.76B | $2.55B | $2.43B | $2.27B |
| Goodwill | $1.66B | $1.66B | $1.39B | $1.04B | $1.04B | $1.04B | $1.04B | $1.18B | $1.18B | $1.20B |
| Other intangibles | — | $14.3M | $16.2M | $11.3M | $13.3M | $15.3M | $17.4M | $49.9M | $57.3M | $20.1M |
| Total assets | $12.86B | $12.59B | $11.32B | $10.24B | $10.14B | $10.66B | $9.95B | $5.89B | $5.47B | $5.29B |
| Accounts payable | $427.7M | $439.6M | $399.5M | $426.2M | $366.9M | $304.5M | $249.4M | $332.6M | $277.0M | $249.5M |
| Short-term debt | $693.6M | $0 | $86.8M | $0 | — | $0 | $270.0M | $0 | — | — |
| Total current liabilities | $3.01B | $2.25B | $2.19B | $1.94B | $1.85B | $1.85B | $1.79B | $1.47B | $1.38B | $1.29B |
| Long-term debt | $1.64B | $2.13B | $1.37B | $884.9M | $901.0M | $929.8M | $928.8M | $927.7M | $926.5M | $936.6M |
| Total liabilities | $10.65B | $10.28B | $9.08B | $8.04B | $7.94B | $7.84B | $7.61B | $3.50B | $3.27B | $3.19B |
| Retained earnings | -$108.4M | -$16.1M | -$35.5M | -$32.5M | -$25.9M | $522.3M | $143.5M | $806.6M | $657.6M | $560.1M |
| Total equity | $2.21B | $2.31B | $2.24B | $2.20B | $2.20B | $2.81B | $2.33B | $2.39B | $2.19B | $2.10B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.85B | $1.71B | $1.62B | $1.55B | $1.26B | $1.19B | $717.4M | $1.27B | $1.02B | $916.3M |
| Depreciation and amortisation | $561.1M | $516.1M | $459.9M | $387.8M | $368.4M | $350.9M | $355.9M | $336.7M | $313.1M | $272.9M |
| Stock-based compensation | $79.1M | $79.1M | $68.5M | $67.5M | $60.5M | $72.4M | $53.0M | $59.8M | $42.8M | $40.7M |
| Capital expenditure | $734.0M | $644.6M | $601.2M | $564.9M | $376.9M | $254.9M | $459.9M | $452.0M | $396.0M | $293.0M |
| Investing cash flow | -$711.4M | -$1.28B | -$1.32B | -$568.4M | -$389.0M | -$263.7M | -$544.0M | -$462.6M | -$451.1M | -$1.07B |
| Financing cash flow | -$1.16B | -$385.8M | -$483.4M | -$1.03B | -$1.61B | -$478.9M | $138.7M | -$484.2M | -$636.6M | $129.2M |
| Dividends paid | $693.0M | $658.5M | $628.4M | $589.8M | $563.0M | $202.6M | $322.3M | $370.8M | $313.5M | $279.1M |
| Buybacks | $671.7M | $418.2M | $453.9M | $458.7M | $1.07B | $45.4M | $330.3M | $207.5M | $234.8M | $230.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-342023.
Others in SIC 5812
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MCD | MCDONALDS CORP | $180.94B | 21.4x | 3.7% |
| CMG | CHIPOTLE MEXICAN GRILL INC | $46.77B | 32.4x | 5.4% |
| YUM | YUM BRANDS INC | $41.13B | 27.2x | 8.8% |
| QSR | Restaurant Brands International Inc. | $27.90B | 34.1x | 12.2% |
| ARMK | Aramark | $14.97B | 46.5x | 6.4% |
| YUMC | Yum China Holdings, Inc. | $14.93B | 17.4x | 4.4% |
| TXRH | Texas Roadhouse, Inc. | $12.44B | 31.1x | 9.4% |
| EAT | BRINKER INTERNATIONAL, INC | $9.62B | 21.2x | 7.9% |