NYSE : DRI
Darden Restaurants, Inc. — Financial statements
Consumer Discretionary · Restaurants · United States
Last price 220.48 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 24.95B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Darden Restaurants, Inc. (DRI) reported revenue of 13.37B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 13.37B | 13.21B | 12.08B | 11.39B | 10.49B | 9.63B |
| Cost of Revenue | 10.47B | 10.35B | 9.43B | 8.96B | 8.38B | 7.63B |
| Gross Profit | 2.90B | 2.86B | 2.64B | 2.43B | 2.11B | 2.00B |
| Selling, General & Admin | 697.50M | 694.80M | 690.20M | 623.70M | 504.40M | 466.40M |
| Operating Expenses | 1.30B | 1.29B | 1.23B | 1.11B | 918.10M | 834.80M |
| Operating Income | 1.59B | 1.57B | 1.41B | 1.33B | 1.19B | 1.16B |
| Interest Expense | -201.20M | -196.30M | -178.50M | -143.20M | -89.10M | -70.60M |
| Interest & Investment Income | 2.10M | 2.10M | 3.40M | 4.50M | 7.80M | 1.90M |
| EBT Excluding Unusual Items | 1.39B | 1.38B | 1.24B | 1.19B | 1.11B | 1.09B |
| Gain (Loss) on Sale of Assets | 600.00K | 38.20M | -48.10M | -13.10M | 15.10M | 4.80M |
| Asset Writedown | -28.00M | -27.50M | -1.10M | 700.00K | -4.50M | -2.80M |
| Pretax Income | 1.36B | 1.39B | 1.19B | 1.18B | 1.12B | 1.09B |
| Income Tax Expense | 173.70M | 174.90M | 136.20M | 145.00M | 137.00M | 138.80M |
| Earnings From Continuing Operations | 1.19B | 1.21B | 1.05B | 1.03B | 983.50M | 954.70M |
| Earnings From Discontinued Operations | -7.80M | -7.00M | -1.40M | -2.90M | -1.60M | -1.90M |
| Net Income | 1.18B | 1.21B | 1.05B | 1.03B | 981.90M | 952.80M |
| Net Income to Common | 1.18B | 1.21B | 1.05B | 1.03B | 981.90M | 952.80M |
| Shares Outstanding (Basic) | 114.72M | 115.50M | 117.50M | 119.90M | 121.90M | 127.80M |
| Shares Outstanding (Diluted) | 115.50M | 116.30M | 118.40M | 120.80M | 122.90M | 129.00M |
| EPS (Basic) | 10.31 | 10.45 | 8.93 | 8.57 | 8.05 | 7.46 |
| EPS (Diluted) | 10.25 | 10.38 | 8.87 | 8.51 | 7.99 | 7.39 |
| Free Cash Flow | 1.05B | 1.11B | 1.05B | 1.01B | 980.70M | 879.20M |
| Free Cash Flow Per Share | 9.07 | 9.58 | 8.90 | 8.37 | 7.98 | 6.82 |
| Dividend Per Share | 6.12 | 6.00 | 5.60 | 5.24 | 4.84 | 4.40 |
| Gross Margin | 21.66% | 21.67% | 21.88% | 21.37% | 20.11% | 20.72% |
| Operating Margin | 11.90% | 11.90% | 11.69% | 11.65% | 11.36% | 12.05% |
| Profit Margin | 8.85% | 9.13% | 8.69% | 9.02% | 9.36% | 9.89% |
| Free Cash Flow Margin | 7.83% | 8.43% | 8.73% | 8.87% | 9.35% | 9.13% |
| EBITDA | 2.14B | 2.12B | 1.91B | 1.76B | 1.56B | 1.51B |
| EBITDA Margin | 16.03% | 16.01% | 15.81% | 15.48% | 14.88% | 15.67% |
| D&A For EBITDA | 552.00M | 542.90M | 497.90M | 437.00M | 369.20M | 348.70M |
| EBIT | 1.59B | 1.57B | 1.41B | 1.33B | 1.19B | 1.16B |
| EBIT Margin | 11.90% | 11.90% | 11.69% | 11.65% | 11.36% | 12.05% |
| Effective Tax Rate | 12.74% | 12.60% | 11.47% | 12.34% | 12.23% | 12.69% |
Balance sheet
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 220.50M | 219.50M | 240.00M | 194.80M | 367.80M | 420.60M |
| Cash & Short-Term Investments | 220.50M | 219.50M | 240.00M | 194.80M | 367.80M | 420.60M |
| Accounts Receivable | 118.00M | 44.10M | 41.60M | 41.40M | 40.60M | 39.20M |
| Other Receivables | 81.60M | 52.20M | 37.60M | 32.30M | 32.20M | |
| Receivables | 118.00M | 125.70M | 93.80M | 79.00M | 72.90M | 71.40M |
| Inventory | 321.00M | 326.30M | 311.60M | 290.50M | 287.90M | 270.60M |
| Prepaid Expenses | 138.50M | 119.30M | 142.20M | 111.40M | 106.10M | 89.90M |
| Restricted Cash | 8.10M | 8.10M | 14.50M | 25.30M | 48.40M | 51.50M |
| Other Current Assets | 147.00M | 144.00M | 135.60M | 121.80M | 114.60M | 275.40M |
| Total Current Assets | 953.10M | 942.90M | 937.70M | 822.80M | 997.70M | 1.18B |
| Property, Plant & Equipment | 8.84B | 8.48B | 8.27B | 7.61B | 7.10B | 6.82B |
| Goodwill | 1.66B | 1.66B | 1.66B | 1.39B | 1.04B | 1.04B |
| Other Intangible Assets | 1.35B | 1.45B | 1.44B | 1.24B | 884.60M | 879.10M |
| Other Long-Term Assets | 432.90M | 330.30M | 274.30M | 255.70M | 222.80M | 218.80M |
| Total Assets | 13.23B | 12.86B | 12.59B | 11.32B | 10.24B | 10.14B |
| Accounts Payable | 470.00M | 427.70M | 439.60M | 399.50M | 426.20M | 366.90M |
| Accrued Expenses | 596.60M | 850.90M | 756.70M | 760.20M | 688.70M | 667.10M |
| Short-Term Debt | 479.70M | 193.60M | 86.80M | |||
| Current Portion of Long-Term Debt | 500.00M | 536.00M | 40.00M | 51.80M | 45.40M | 28.00M |
| Current Portion of Leases | 225.90M | 235.20M | 243.90M | 214.10M | 196.00M | 202.40M |
| Current Income Taxes Payable | 95.90M | 87.00M | 87.70M | 6.10M | 7.80M | 32.10M |
| Current Unearned Revenue | 571.50M | 606.00M | 599.40M | 591.80M | 512.00M | 498.00M |
| Other Current Liabilities | 259.40M | 69.00M | 80.20M | 82.20M | 61.30M | 53.00M |
| Total Current Liabilities | 3.20B | 3.01B | 2.25B | 2.19B | 1.94B | 1.85B |
| Long-Term Debt | 1.64B | 1.64B | 2.13B | 1.37B | 884.90M | 901.00M |
| Long-Term Leases | 5.75B | 5.44B | 5.40B | 5.06B | 4.84B | 4.77B |
| Long-Term Unearned Revenue | 11.10M | 11.40M | 5.30M | 4.90M | 2.70M | 2.80M |
| Long-Term Deferred Tax Liabilities | 367.60M | 343.60M | 278.80M | 232.00M | 142.20M | 201.10M |
| Other Long-Term Liabilities | 196.00M | 212.80M | 214.50M | 218.90M | 232.60M | 210.80M |
| Total Liabilities | 11.16B | 10.65B | 10.28B | 9.08B | 8.04B | 7.94B |
| Common Stock | 2.31B | 2.30B | 2.30B | 2.25B | 2.23B | 2.23B |
| Retained Earnings | -259.50M | -108.40M | -16.10M | -35.50M | -32.50M | -25.90M |
| Comprehensive Income & Other | 20.40M | 19.60M | 31.80M | 25.60M | 3.20M | -1.90M |
| Shareholders' Equity | 2.07B | 2.21B | 2.31B | 2.24B | 2.20B | 2.20B |
| Total Liabilities & Equity | 13.23B | 12.86B | 12.59B | 11.32B | 10.24B | 10.14B |
| Total Debt | 8.59B | 8.05B | 7.81B | 6.78B | 5.97B | 5.91B |
| Net Cash (Debt) | -8.37B | -7.83B | -7.57B | -6.59B | -5.60B | -5.49B |
| Net Cash Per Share | -72.46 | -67.30 | -63.97 | -54.55 | -45.55 | -42.52 |
| Filing Date Shares Outstanding | 113.14M | 114.08M | 117.03M | 118.86M | 121.07M | 123.95M |
| Total Common Shares Outstanding | 113.30M | 114.08M | 117.03M | 118.86M | 121.07M | 123.95M |
| Working Capital | -2.25B | -2.06B | -1.31B | -1.37B | -939.70M | -668.10M |
| Book Value Per Share | 18.26 | 19.35 | 19.75 | 18.87 | 18.18 | 17.74 |
| Tangible Book Value | -936.20M | -900.00M | -791.80M | -388.40M | 279.50M | 281.70M |
| Tangible Book Value Per Share | -8.26 | -7.89 | -6.77 | -3.27 | 2.31 | 2.27 |
| Land | 178.10M | 158.80M | 132.90M | 134.00M | 126.20M | |
| Buildings | 4.67B | 4.33B | 4.03B | 3.66B | 3.39B | |
| Machinery | 2.78B | 2.57B | 2.35B | 2.09B | 1.92B | |
| Construction In Progress | 243.50M | 234.80M | 179.10M | 200.70M | 156.00M |
Cash flow statement
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 1.18B | 1.21B | 1.05B | 1.03B | 981.90M | 952.80M |
| Depreciation & Amortization | 552.00M | 542.90M | 497.90M | 437.00M | 369.20M | 348.70M |
| Other Amortization | 18.20M | 18.20M | 18.20M | 22.90M | 18.60M | 19.70M |
| Loss (Gain) From Sale of Assets | -600.00K | -38.20M | 48.10M | 13.10M | -15.10M | -4.80M |
| Asset Writedown & Restructuring Costs | 28.00M | 27.50M | 1.10M | -700.00K | 4.50M | 2.80M |
| Stock-Based Compensation | 80.70M | 79.10M | 79.10M | 68.50M | 67.50M | 60.50M |
| Other Operating Activities | 26.00M | 42.10M | 1.50M | -18.70M | -58.50M | -11.00M |
| Change in Accounts Receivable | -44.50M | -36.20M | -13.20M | 9.30M | -8.20M | -3.90M |
| Change in Inventory | -11.40M | -14.70M | -20.50M | 5.60M | -17.30M | -79.80M |
| Change in Accounts Payable | -18.30M | -22.60M | 26.60M | -11.30M | 40.90M | 43.20M |
| Change in Unearned Revenue | 8.70M | 6.60M | 5.00M | 12.90M | 14.00M | 23.80M |
| Change in Income Taxes | 9.30M | -6.70M | -15.20M | 5.10M | 143.30M | 58.50M |
| Change in Other Net Operating Assets | -40.80M | 48.40M | 28.80M | 50.40M | 12.00M | -145.90M |
| Operating Cash Flow | 1.78B | 1.85B | 1.70B | 1.61B | 1.55B | 1.26B |
| Capital Expenditures | -735.20M | -734.00M | -644.60M | -601.20M | -564.90M | -376.90M |
| Sale of Property, Plant & Equipment | 34.00M | 45.50M | 2.50M | 3.30M | 25.40M | 10.10M |
| Cash Acquisitions | -613.70M | -701.10M | ||||
| Sale (Purchase) of Intangibles | -25.70M | -26.40M | -27.30M | -27.10M | -29.40M | -25.60M |
| Other Investing Activities | 3.50M | 3.50M | 4.80M | 1.50M | 500.00K | 3.40M |
| Investing Cash Flow | -723.40M | -711.40M | -1.28B | -1.32B | -568.40M | -389.00M |
| Short-Term Debt Issued | 194.00M | 86.80M | ||||
| Long-Term Debt Issued | 750.00M | 1.10B | ||||
| Total Debt Issued | 337.90M | 194.00M | 750.00M | 1.19B | ||
| Short-Term Debt Repaid | -86.80M | |||||
| Long-Term Debt Repaid | -18.10M | -21.00M | -619.90M | -19.80M | -12.90M | |
| Total Debt Repaid | -18.20M | -18.10M | -107.80M | -619.90M | -19.80M | -12.90M |
| Net Debt Issued (Repaid) | 319.70M | 175.90M | 642.20M | 566.90M | -19.80M | -12.90M |
| Issuance of Common Stock | 36.20M | 25.00M | 55.60M | 43.60M | 35.40M | 40.20M |
| Repurchase of Common Stock | -709.80M | -671.70M | -418.20M | -453.90M | -458.70M | -1.07B |
| Common Dividends Paid | -702.10M | -693.00M | -658.50M | -628.40M | -589.80M | -563.00M |
| Other Financing Activities | -6.90M | -11.60M | -200.00K | -2.70M | ||
| Financing Cash Flow | -1.06B | -1.16B | -385.80M | -483.40M | -1.03B | -1.61B |
| Net Cash Flow | 3.10M | -26.90M | 34.40M | -196.10M | -55.90M | -742.60M |
| Free Cash Flow | 1.05B | 1.11B | 1.05B | 1.01B | 980.70M | 879.20M |
| Free Cash Flow Margin | 7.83% | 8.43% | 8.73% | 8.87% | 9.35% | 9.13% |
| Free Cash Flow Per Share | 9.07 | 9.58 | 8.90 | 8.37 | 7.98 | 6.82 |
| Levered Free Cash Flow | 794.79M | 790.98M | 748.02M | 785.42M | 757.61M | 558.10M |
| Unlevered Free Cash Flow | 920.54M | 913.66M | 859.59M | 874.92M | 813.30M | 602.23M |
| Cash Interest Paid | 192.70M | 188.60M | 171.90M | 135.10M | 82.40M | 65.00M |
| Cash Income Tax Paid | 128.00M | 110.40M | 150.70M | 138.60M | 47.40M | 102.60M |
| Change in Working Capital | -97.00M | -25.20M | 11.50M | 72.00M | 184.70M | -104.10M |
Ratios
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 24.91B | 23.35B | 23.88B | 17.62B | 19.50B | 15.72B |
| Enterprise Value | 33.28B | 31.27B | 31.53B | 24.23B | 25.19B | 21.04B |
| Last Close Price | 220.17 | 200.64 | 194.79 | 136.25 | 143.95 | 108.54 |
| PE Ratio | 21.49 | 19.35 | 22.75 | 17.14 | 19.86 | 16.50 |
| Forward PE | 19.19 | 17.90 | 20.04 | 15.83 | 18.71 | 15.62 |
| PS Ratio | 1.86 | 1.77 | 1.98 | 1.55 | 1.86 | 1.63 |
| PB Ratio | 12.06 | 10.58 | 10.33 | 7.86 | 8.86 | 7.15 |
| P/TBV Ratio | 69.78 | 55.81 | ||||
| P/FCF Ratio | 23.79 | 20.96 | 22.66 | 17.43 | 19.89 | 17.88 |
| P/OCF Ratio | 13.98 | 12.64 | 14.06 | 10.93 | 12.62 | 12.52 |
| PEG Ratio | 2.13 | 1.80 | 2.24 | 1.56 | 1.43 | 1.56 |
| EV/Sales Ratio | 2.49 | 2.37 | 2.61 | 2.13 | 2.40 | 2.19 |
| EV/EBITDA Ratio | 15.53 | 14.79 | 16.52 | 13.74 | 16.14 | 13.94 |
| EV/EBIT Ratio | 20.93 | 19.89 | 22.34 | 18.26 | 21.15 | 18.14 |
| EV/FCF Ratio | 31.78 | 28.06 | 29.92 | 23.97 | 25.69 | 23.93 |
| Debt / Equity Ratio | 4.15 | 3.65 | 3.38 | 3.03 | 2.71 | 2.69 |
| Debt / EBITDA Ratio | 3.26 | 3.09 | 3.31 | 3.08 | 3.04 | 3.11 |
| Debt / FCF Ratio | 8.20 | 7.22 | 7.41 | 6.71 | 6.08 | 6.72 |
| Net Debt / Equity Ratio | 4.05 | 3.55 | 3.28 | 2.94 | 2.54 | 2.50 |
| Net Debt / EBITDA Ratio | 3.91 | 3.70 | 3.97 | 3.74 | 3.59 | 3.63 |
| Net Debt / FCF Ratio | 7.99 | 7.02 | 7.19 | 6.52 | 5.71 | 6.24 |
| Asset Turnover | 1.03 | 1.04 | 1.01 | 1.06 | 1.03 | 0.93 |
| Inventory Turnover | 33.21 | 32.45 | 31.34 | 30.97 | 30.00 | 33.09 |
| Quick Ratio | 0.11 | 0.12 | 0.15 | 0.12 | 0.23 | 0.27 |
| Current Ratio | 0.30 | 0.31 | 0.42 | 0.38 | 0.52 | 0.64 |
| Return on Equity (ROE) | 55.43% | 53.72% | 46.16% | 46.38% | 44.71% | 38.10% |
| Return on Assets (ROA) | 7.65% | 7.72% | 7.38% | 7.69% | 7.31% | 6.98% |
| Return on Invested Capital (ROIC) | 13.56% | 13.80% | 13.35% | 13.98% | 13.51% | 13.47% |
| Return on Capital Employed (ROCE) | 15.90% | 15.90% | 13.70% | 14.50% | 14.30% | 14.00% |
| Earnings Yield | 4.65% | 5.17% | 4.40% | 5.83% | 5.03% | 6.06% |
| FCF Yield | 4.20% | 4.77% | 4.41% | 5.74% | 5.03% | 5.59% |
| Dividend Yield | 2.94% | 2.93% | 2.74% | 3.54% | 3.00% | 3.47% |
| Payout Ratio | 63.25% | 57.43% | 62.74% | 61.15% | 60.07% | 59.09% |
| Buyback Yield / Dilution | 2.12% | 1.77% | 1.99% | 1.71% | 4.73% | 2.12% |
| Total Shareholder Return | 5.06% | 4.71% | 4.73% | 5.24% | 7.73% | 5.59% |