FirmAtlas
Company handbook · DRI · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
DRI · CIK 940944 · LATEST FILING: 10-Q AUG '26 · FILED OCT 2, 2026
DARDEN RESTAURANTS, INC.
$216.35
+2.04 (+0.95%)
Close, Oct 16, 2026 · 52-week $169–230
Last fiscal year
DARDEN RESTAURANTS, INC. reported revenue of $13.2B for the year ended May 31, 2026 (FY25), up 9.4% from FY24. Net income was $1.2B, operating cash flow $1.9B and free cash flow $1.1B. Source: 10-K filed Jul 24, 2026.
Market cap
$24.7B
P/E
20.9
EV/EBITDA
12.5x
P/B
11.9
Div yield
2.88%
ROIC
32.6%
Revenue 1Y
9.4%/yr
EPS 1Y
17.2%/yr
Shares 1Y
−2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEORicardo Cardenas
HQOrlando, FL
AuditorKPMG LLP
Year endsMay
Revenue by segment · FY25
Olive Garden42%
Longhorn Steakhouse26%
All Other Segments21%
Fine Dining10%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
13.3%
7.7%
15.9%
15.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$4.4B deployed
Capex
$1.4B
31.1%
Acquisitions
$614M
13.8%
Dividends
$1.4B
30.5%
Buybacks
$1.1B
24.6%
Operating cash flow over the period: $3.6B. Total debt changed by +$202M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended May 31, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Aug '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
12,077
13,211+9.4%
13,366
YoY
+9.4%
Gross profit
2,473
2,682+8.5%
2,711
Gross margin
20.5%
20.3%−0.2 pp
—
Operating income
1,362
1,583+16.2%
1,563
Operating margin
11.3%
12.0%+0.7 pp
—
EBITDA
1,878
2,144+14.1%
—
EBITDA margin
15.6%
16.2%+0.7 pp
—
Interest expense
116
126+9.1%
—
Interest coverage
16.21x
16.95x+0.74x
—
Net income
1,050
1,207+15.0%
1,182
YoY
+15.0%
Net margin
8.7%
9.1%+0.4 pp
—
EPS (diluted, $)
8.86
10.38+17.2%
10.27
YoY
+17.2%
Balance sheet
Total assets
12,587
12,862+2.2%
13,227
Cash & short-term investments
254
228−10.6%
—
Accounts receivable
94
130+38.5%
—
Inventory
312
326+4.7%
—
Net PP&E
4,716
5,049+7.1%
—
Other assets
7,211
7,130−1.1%
—
Total liabilities
10,276
10,655+3.7%
11,158
Accounts payable
440
428−2.7%
—
Total debt
2,129
2,331+9.5%
2,616
Other liabilities
7,707
7,896+2.4%
—
Shareholders’ equity
2,311
2,208−4.5%
2,068
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,707
1,853+8.6%
1,790
Net income
1,050
1,207+15.0%
—
Depreciation & amortization
516
561+8.7%
—
Stock-based compensation
79
79+0.0%
—
Working capital & other
62
6−90.0%
—
Cash from investing
(1,278)
(711)n/m
—
Capex
(645)
(734)n/m
—
PP&E sold
2
46+1720.0%
—
Acquisitions
(614)
0n/m
—
Other investing
(22)
(23)n/m
—
Cash from financing
(386)
(1,164)n/m
—
Debt raised
750
0−100.0%
—
Debt repaid
0
0n/m
—
Dividends
(658)
(693)n/m
—
Buybacks
(418)
(672)n/m
—
Shares issued
56
25−55.0%
—
Other financing
(115)
176n/m
—
Net change in cash
34
(27)−178.2%
—
Free cash flow (OCF − capex)
1,062
1,119+5.3%
1,054
Where the cash went
Operating cash flow
1,707
1,853+8.6%
1,790
Reinvested in the business
1,258
734−41.7%
—
% of operating cash flow
73.7%
39.6%
Capex
645
734+13.9%
735
Acquisitions
614
0−100.0%
—
Free cash flow
1,062
1,119+5.3%
1,054
YoY
+5.3%
Returned to shareholders
1,077
1,365+26.7%
—
% of free cash flow
101.3%
121.9%
Dividends
658
693+5.2%
—
Buybacks
418
672+60.6%
—
Change in total debt
—
202
—
Cash left over
—
(43)
—
FCF conversion (FCF ÷ net income)
101.2%
92.7%−8.5 pp
—
Owner earnings
—
971
—
Owner earnings margin
—
7.4%
—
Buyback yield
1.8%
2.9%+1.1 pp
—
Returns & ratios
ROIC (all capital)
28.8%
32.6%+3.8 pp
—
ROIC (operating)
25.8%
28.4%+2.6 pp
—
Net debt / EBITDA
1.00x
0.98x−0.02x
—
Debt / equity
0.92x
1.06x+0.13x
—
Cash conversion cycle (days)
−2
0+2 d
—
ROE
45.4%
54.7%+9.3 pp
—
ROA
8.3%
9.4%+1.0 pp
—
ROCE
13.2%
16.1%+2.9 pp
—
NOPAT
1,206
1,383+14.7%
—
Invested capital (operating)
4,682
5,077+8.4%
—
Invested capital (all)
4,186
4,311+3.0%
—
Reinvestment rate
—
28.6%
—
Debtor days
3
4+1 d
—
Inventory days
12
11−1 d
—
Days payable
17
15−2 d
—
Income
Nov '25
Feb '26
May '26
Aug '26
Revenue
3,102
3,345
3,719
3,200
vs year-ago quarter
Gross profit
581
704
823
603
Gross margin
18.7%
21.0%
22.1%
18.8%
Operating income
320
406
517
319
Net income
237
307
405
233
vs year-ago quarter
Net margin
7.6%
9.2%
10.9%
7.3%
EPS (diluted, $)
2.03
2.65
3.55
2.04
vs year-ago quarter
Balance sheet
Nov '25
Feb '26
May '26
Aug '26
Total assets
12,940
12,889
12,862
13,227
Cash & equivalents
239
248
228
229
Total debt
2,577
2,431
2,331
2,616
Shareholders’ equity
2,080
2,104
2,208
2,068
Cash flow
Nov '25
Feb '26
May '26
Aug '26
Operating cash flow
321
618
572
279
Capex
201
166
193
175
Free cash flow
120
452
379
104
vs year-ago quarter