Darden Restaurants, Inc. (DRI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$2.94	$2.95	+0.3%	—	—	—
Q3 26	$2.1	$2.08	-1.0%	—	—	—
Q2 26	$2.62	$2.04	-22.1%	—	—	—
Q1 26	$2.97	$2.98	+0.3%	—	—	—
Q4 25	$2.8	$2.8	0.0%	—	—	—
Q3 25	$2.02	$2.03	+0.5%	—	—	—
Q2 25	$1.83	$1.75	-4.4%	—	—	—
Q1 25	$2.61	$2.65	+1.5%	—	—	—
Q4 24	$2.62	$2.62	0.0%	—	—	—
Q3 24	$1.73	$1.84	+6.4%	—	—	—
Q2 24	$1.74	$1.78	+2.3%	—	—	—
Q1 24	$2.53	$2.6	+2.8%	—	—	—
Q4 23	$2.24	$2.36	+5.4%	—	—	—
Q3 23	$1.44	$1.52	+5.6%	—	—	—
Q2 23	$1.56	$1.53	-1.9%	—	—	—
Q1 23	$2.21	$2.27	+2.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$10.4	—	—	$13.2B	—
FY25	—	$8.93	—	—	$12.1B	—
FY24	—	$8.57	—	—	$11.4B	—
FY23	—	$8.06	—	—	$10.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$7.2B	$8.1B	$8.5B	$7.8B	$7.2B	$9.6B	$10.5B	$11.4B	$12.1B	$13.2B
YoY change	+3.41%	+12.7%	+5.33%	-8.27%	-7.82%	+33.8%	+8.91%	+8.6%	+6.03%	+9.39%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	7.2B	8.1B	8.5B	7.8B	7.2B	9.6B	10.5B	11.4B	12.1B	13.2B
Cost of revenue	5.6B	6.3B	6.7B	6.4B	5.7B	7.6B	8.4B	9B	9.4B	10.3B
Gross profit	1.6B	1.7B	1.8B	1.4B	1.5B	2B	2.1B	2.4B	2.6B	2.9B
Gross margin	21.9%	21.6%	21.7%	18%	20.8%	20.7%	19.9%	21.2%	21.9%	21.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	627.4M	662.1M	660.8M	614.4M	487.3M	466.4M	504.4M	623.7M	690.2M	694.8M
Operating expenses	627.4M	662.1M	660.8M	614.4M	487.3M	466.4M	504.4M	623.7M	690.2M	694.8M
Operating income	669.1M	770.2M	851.5M	438.1M	655.3M	1.2B	1.2B	1.3B	1.4B	1.6B
Operating margin	9.33%	9.53%	10%	5.61%	9.11%	12%	11.4%	11.6%	11.9%	12.2%
Non-operating income, net	8.4M	-3.4M	-19M	-541.8M	-15.3M	2M	10.6M	-12.4M	-74M	-23.8M
Pretax income	637.3M	605.7M	782.3M	-161M	576.5M	1.1B	1.1B	1.2B	1.2B	1.4B
Income tax	154.8M	1.9M	63.7M	-111.8M	-55.9M	138.8M	137M	145M	136.2M	174.9M
Net income	479.1M	596M	713.4M	-52.4M	629.3M	952.8M	981.9M	1B	1B	1.2B
Net margin	6.68%	7.38%	8.38%	-0.67%	8.75%	9.89%	9.36%	9.02%	8.69%	9.13%
EBITDA	943.3M	1.1B	1.2B	647.3M	999.2M	1.5B	1.6B	1.8B	2B	2.2B
EPS	3.85	4.81	5.78	-0.43	4.83	7.46	8.06	8.57	8.93	10.4
Diluted EPS	3.8	4.73	5.69	-0.43	4.77	7.39	7.99	8.51	8.86	10.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	2.7B	2.7B	3B	3B	2.8B	2.9B	3.2B	3.3B	3B	3.1B	3.3B	3.7B
Cost of revenue	2.2B	2.2B	2.3B	2.3B	2.2B	2.3B	2.5B	2.5B	2.4B	2.5B	2.6B	2.9B
Gross profit	557.7M	550.2M	645.6M	656.7M	562.8M	612.7M	702.3M	764.8M	623.4M	630M	743M	866.1M
Gross margin	20.4%	20.2%	21.7%	22.2%	20.4%	21.2%	22.2%	23.4%	20.5%	20.3%	22.2%	23.3%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	191.9M	151.7M	139.9M	140.2M	171.1M	192.9M	152.1M	174.1M	185.2M	166.5M	160.9M	182.2M
Operating expenses	191.9M	151.7M	139.9M	140.2M	171.1M	192.9M	152.1M	174.1M	185.2M	166.5M	160.9M	182.2M
Operating income	256M	286M	387.8M	396.8M	270.2M	292.1M	418.3M	455.7M	303.1M	325.6M	440.3M	537.6M
Operating margin	9.38%	10.5%	13%	13.4%	9.8%	10.1%	13.2%	13.9%	9.96%	10.5%	13.2%	14.5%
Non-operating income, net	-3.1M	-7.5M	-400K	-1.4M	-1M	—	-100K	-72.9M	36.1M	-5.2M	-33.9M	-20.8M
Pretax income	223.2M	241.4M	350.9M	360M	232.1M	245.9M	372.7M	336.5M	293.8M	272.4M	356.8M	465.6M
Income tax	28.4M	29.1M	37.5M	50M	24.5M	30.2M	49M	32.5M	35.9M	35M	46.2M	57.8M
Net income	194.5M	212.1M	312.9M	308.1M	207.2M	215.1M	323.4M	303.8M	257.8M	237.2M	306.8M	404.9M
Net margin	7.12%	7.78%	10.5%	10.4%	7.52%	7.44%	10.2%	9.29%	8.47%	7.65%	9.17%	10.9%
EBITDA	368.9M	406M	506.1M	510M	392.7M	419.8M	550.3M	593M	402.1M	468.7M	616M	683M
EPS	1.61	1.77	2.62	2.58	1.75	1.83	2.76	2.59	2.21	2.05	2.67	3.54
Diluted EPS	1.59	1.76	2.6	2.57	1.74	1.82	2.74	2.58	2.19	2.03	2.65	3.51

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	11.1B	10.8B	14.4B	9.4B	18.7B	16B	19.3B	18B	25.2B	23.6B	22.4B
Enterprise value	11.8B	11.6B	14.8B	14.3B	22.7B	20.4B	23.7B	23.3B	31.2B	29.7B	31B
Shares outstanding	124.3M	124M	123.5M	122.7M	130.4M	127.8M	121.9M	119.9M	117.5M	115.5M	115.5M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	23.1	18.2	20.1	—	29.7	16.8	19.7	17.5	24	19.5	18.9
P/S	1.54	1.34	1.69	1.21	2.6	1.66	1.84	1.58	2.08	1.78	1.67
P/B	5.26	4.94	6	4.05	6.64	7.27	8.78	8.04	10.9	10.7	10.2
EV/EBITDA	12.5	10.7	12.4	22.1	22.7	13.4	15	13	15.9	13.7	14.5
EV/Sales	1.64	1.44	1.74	1.83	3.15	2.12	2.26	2.04	2.58	2.24	2.32
Earnings yield	4.33%	5.5%	4.97%	—	3.37%	5.96%	5.08%	5.7%	4.17%	5.12%	5.3%
FCF yield	5.24%	5.37%	5.42%	2.4%	4.95%	5.34%	4.92%	5.45%	4.08%	4.62%	4.56%
PEG	—	—	—	—	—	—	—	—	—	—	0.51

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	21.9%	21.6%	21.7%	18%	20.8%	20.7%	19.9%	21.2%	21.9%	21.7%	23.3%
Operating margin	9.33%	9.53%	10%	5.61%	9.11%	12%	11.4%	11.6%	11.9%	12.2%	9.85%
Net margin	6.68%	7.38%	8.38%	-0.67%	8.75%	9.89%	9.36%	9.02%	8.69%	9.13%	8.85%
ROE	22.8%	27.2%	29.8%	-2.25%	22.4%	43.3%	44.6%	45.8%	45.4%	54.7%	55.4%
ROA	9.05%	10.9%	12.1%	-0.53%	5.91%	9.4%	9.59%	9.08%	8.34%	9.38%	7.65%
ROIC	18.1%	25.8%	27.3%	6.08%	9.64%	15.2%	15.8%	15.6%	15.3%	16.9%	16.9%
Return on tangible assets	61.1%	64.1%	51.9%	-0.86%	9.21%	15.1%	15.3%	17%	16.4%	18.2%	18.2%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	0.46	0.4	0.61	0.61	1.01	0.64	0.51	0.38	0.42	0.31	0.3
Quick ratio	0.32	0.25	0.46	0.5	0.91	0.49	0.37	0.24	0.28	0.21	0.21
Debt / equity	0.45	0.42	0.39	2.42	1.85	2.22	2.18	2.42	2.7	2.87	4.14
Debt / assets	0.18	0.17	0.16	0.57	0.49	0.48	0.47	0.48	0.49	0.49	0.49
Net debt / EBITDA	0.75	0.72	0.4	7.54	3.99	2.92	2.79	2.92	3.06	2.81	2.81
Interest coverage	16.4	4.74	15.5	-1.59	9.84	16.5	13.6	9.21	7.65	8.07	8.07
Effective tax rate	24.3%	0.31%	8.14%	0%	0%	12.7%	12.2%	12.3%	11.5%	12.6%	12.6%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	57.7	65.2	68.9	63.6	55.2	75.4	86	95	102.8	114.4	116.5
EPS (basic)	3.85	4.81	5.78	-0.43	4.83	7.46	8.06	8.57	8.93	10.4	10.4
EPS (diluted)	3.8	4.73	5.69	-0.43	4.77	7.39	7.99	8.51	8.86	10.4	10.4
Book value per share	16.9	17.7	19.4	19	21.6	17.2	18.1	18.7	19.7	19.1	19.4
FCF per share	4.66	4.7	6.31	1.85	7.08	6.68	7.8	8.2	8.74	9.42	9.44
Cash per share	1.88	1.18	3.7	6.22	9.32	3.29	3.02	1.62	2.04	1.9	1.94
Capex per share	2.29	3.17	3.55	3.7	1.91	2.87	4.43	4.99	5.46	0.23	0.23

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	3.97%	4.86%	5.16%	5.82%	3.47%	3.81%	5.14%	5.25%	5.32%	0.2%	0.2%
Capex / operating cash flow	30.8%	43.7%	34.8%	205.8%	21.9%	28.6%	33.8%	37.4%	39.1%	1.43%	1.43%
Payout ratio	58.3%	52.6%	52%	-615.1%	32.2%	59.1%	60.1%	61.2%	62.7%	57.4%	59.4%
Dividend yield	2.52%	2.89%	2.58%	3.42%	1.08%	3.52%	3.05%	3.48%	2.62%	2.94%	3.29%

Yield

3.29%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.62

ex-dividend Jul 10, 2026

Payout ratio

59%

of earnings

Dividend growth

5 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 10, 2026	$1.62
Apr 10, 2026	$1.50
Jan 9, 2026	$1.50

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	$2.7B	$2.7B	$3B	$3B	$2.8B	$2.9B	$3.2B	$3.3B	$3B	$3.1B	$3.3B	$3.7B
YoY change	+11.6%	+9.68%	+6.77%	+6.8%	+0.97%	+5.97%	+6.16%	+10.6%	+10.4%	+7.34%	+5.93%	+13.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	233.1M	146.9M	457.3M	763.3M	1.2B	420.6M	367.8M	194.8M	240M	219.5M
Receivables	43M	40.4M	40.2M	23.1M	37.9M	39.5M	40.9M	41.8M	42.2M	44.6M
Inventory	178.9M	205.3M	207.3M	206.9M	190.8M	270.6M	287.9M	290.5M	311.6M	326.3M
Total current assets	587.9M	553.6M	892.6M	1.1B	1.9B	1.2B	997.7M	822.8M	937.7M	942.9M
Property, plant & equipment	1.2B	1.3B	1.3B	5.4B	3.4B	3.4B	3.4B	3.6B	3.9B	3.8B
Goodwill & intangibles	4.5B	4.5B	4.5B	3.9B	3.8B	3.8B	3.8B	5.3B	6.2B	6.2B
Total assets	5.3B	5.5B	5.9B	9.9B	10.7B	10.1B	10.2B	11.3B	12.6B	12.9B
Accounts payable	249.5M	277M	332.6M	249.4M	304.5M	366.9M	426.2M	399.5M	439.6M	427.7M
Short-term debt	—	—	2.9M	436.3M	184.1M	202.5M	196M	300.9M	243.9M	928.9M
Total current liabilities	1.3B	1.4B	1.5B	1.8B	1.8B	1.8B	1.9B	2.2B	2.2B	3B
Long-term debt	936.6M	926.5M	927.7M	5.2B	5B	4.7B	4.6B	5.1B	6B	5.4B
Total liabilities	3.2B	3.3B	3.5B	7.6B	7.8B	7.9B	8B	9.1B	10.3B	10.7B
Shareholders' equity	2.1B	2.2B	2.4B	2.3B	2.8B	2.2B	2.2B	2.2B	2.3B	2.2B
Total debt	936.6M	926.5M	930.6M	5.6B	5.2B	4.9B	4.8B	5.4B	6.2B	6.3B
Net debt	703.5M	779.6M	473.3M	4.9B	4B	4.5B	4.4B	5.2B	6B	6.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Cash & short-term investments	192.1M	195.7M	243.9M	194.8M	192.5M	217.3M	224.2M	240M	211M	224.1M	240.4M	219.5M
Receivables	59.2M	80.3M	72.2M	41.8M	63.8M	77.8M	65.6M	42.2M	94.1M	126.1M	107.7M	44.6M
Inventory	287M	310.6M	298.2M	290.5M	297.7M	318M	324.6M	311.6M	309.6M	354.5M	345.3M	326.3M
Total current assets	835.7M	867.7M	876.4M	822.8M	819.6M	879.6M	880.6M	937.7M	932.8M	1B	1B	942.9M
Property, plant & equipment	7.6B	15.2B	15.4B	3.6B	15.8B	8.3B	8.3B	3.9B	8.4B	8.5B	8.5B	3.8B
Goodwill & intangibles	5B	5.1B	5.1B	5.3B	5.1B	6B	6B	6.2B	6B	6B	6B	6.2B
Total assets	11.3B	11.3B	11.4B	11.3B	11.4B	12.5B	12.6B	12.6B	12.8B	12.9B	12.9B	12.9B
Accounts payable	419.6M	423.9M	406M	399.5M	401M	408.5M	417.2M	439.6M	468.7M	460.8M	451.4M	427.7M
Short-term debt	95.4M	350M	158.7M	300.9M	293.9M	275.2M	58.2M	243.9M	142M	438M	290M	928.9M
Total current liabilities	2.1B	2.4B	2.3B	2.2B	2.3B	2.4B	2.3B	2.2B	2.3B	2.7B	2.6B	3B
Long-term debt	5.4B	5.2B	5.1B	5.1B	5B	6.1B	6B	6B	6B	6B	5.9B	5.4B
Total liabilities	9.1B	9.3B	9.2B	9.1B	9.2B	10.4B	10.4B	10.3B	10.5B	10.9B	10.8B	10.7B
Shareholders' equity	2.1B	2B	2.2B	2.2B	2.1B	2.1B	2.2B	2.3B	2.2B	2.1B	2.1B	2.2B
Total debt	5.5B	5.5B	5.3B	5.4B	5.3B	6.3B	6.1B	6.2B	6.2B	6.4B	6.2B	6.3B
Net debt	5.3B	5.3B	5.1B	5.2B	5.1B	6.1B	5.9B	6B	5.9B	6.2B	5.9B	6.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	482.5M	603.8M	718.6M	-49.2M	632.4M	954.7M	983.5M	1B	1.1B	1.2B
Depreciation & amortization	272.9M	313.1M	336.7M	355.9M	350.9M	368.4M	387.8M	459.9M	516.1M	561.1M
Stock-based compensation	40.7M	42.8M	59.8M	53M	72.4M	60.5M	67.5M	68.5M	79.1M	79.1M
Change in working capital	140.4M	28.2M	93M	4M	-50.5M	-89.7M	216.3M	61.1M	-3.1M	-54M
Operating cash flow	924.6M	899.2M	1.3B	220.7M	1.1B	1.3B	1.6B	1.6B	1.6B	1.8B
Capital expenditure	-284.7M	-392.7M	-438.8M	-454.1M	-249.5M	-366.8M	-539.5M	-597.9M	-642.1M	-26.4M
Investing cash flow	-1B	-428.3M	-436.7M	-519.4M	-248.3M	-363.4M	-539M	-1.3B	-1.3B	-22.9M
Dividends paid	-279.1M	-313.5M	-370.8M	-322.3M	-202.6M	-563M	-589.8M	-628.4M	-658.5M	-693M
Share repurchases	-230.2M	-234.8M	-207.5M	-330.3M	-45.4M	-1.1B	-458.7M	-453.9M	-418.2M	-671.7M
Financing cash flow	129.2M	-1.6B	-621.7M	-611.3M	-748.9M	-1.6B	-1B	-483.4M	-385.8M	-1.2B
Net change in cash	12.2M	-1.1B	203M	-910M	142.1M	-692.1M	22.9M	-182.5M	6.4M	661.6M
Free cash flow	579.7M	582.5M	779.3M	226.8M	923.7M	853.6M	951.3M	983.6M	1B	1.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Net income	194.8M	212.3M	313.4M	310M	207.6M	215.7M	323.7M	304M	257.9M	237.4M	310.6M	407.8M
Depreciation & amortization	109.8M	112.5M	117.9M	119.7M	121.5M	127.7M	131.9M	135M	135.1M	137.9M	141.8M	146.3M
Stock-based compensation	30.3M	13.5M	14M	10.7M	34.7M	14.2M	15.6M	14.6M	25M	23.9M	17.6M	12.6M
Change in working capital	-23.9M	-42.1M	135.2M	-8.1M	-44M	-19.1M	96.9M	-36.9M	-46.9M	-113.2M	123.7M	-17.6M
Operating cash flow	312M	297.2M	564.9M	424.3M	317M	348.8M	579M	398.4M	342.5M	320.4M	615.7M	569.7M
Capital expenditure	-149.3M	-161.1M	-148.4M	-139.1M	-145.2M	-169.3M	-158.1M	-169.5M	-5.5M	-7.5M	-5.5M	-7.9M
Investing cash flow	-849M	-161M	-147.1M	-140.4M	-143.4M	-783.1M	-155.2M	-169.3M	-5.5M	-7.5M	-5.5M	-7.7M
Dividends paid	-158.5M	-157.2M	-156.4M	-156.3M	-166M	-164.5M	-164.1M	-163.9M	-175.1M	-173.9M	-172.5M	-171.5M
Share repurchases	-142.9M	-181M	-32.7M	-97.3M	-172.4M	-141.8M	-53M	-51M	-182.7M	-224.4M	-127.3M	-137.3M
Financing cash flow	409.4M	-192.7M	-375.2M	-324.9M	-126.7M	432.5M	-451.4M	-233.3M	-212.2M	-102.7M	-446.6M	-402.3M
Net change in cash	-127.6M	-56.5M	42.6M	-41M	46.9M	-1.8M	-27.6M	-4.2M	124.8M	210.2M	163.6M	159.7M
Free cash flow	113M	171.6M	422.1M	276.9M	121.7M	212.8M	417.1M	275M	162.9M	112M	444.3M	368.7M

Date	Ratio
Nov 10, 2015	10000:8939
May 2, 2002	3:2

Darden Restaurants, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history