NYSE: DRI
Darden Restaurants
Consumer Discretionary · Retail-Eating Places
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Aug 30, 2026. Hover or tap a column for another year.$24.4B
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| Period | Market cap |
|---|---|
| FY2017, ended May 28, 2017 | $11.0B |
| FY2018, ended May 27, 2018 | $10.9B |
| FY2019, ended May 26, 2019 | $14.8B |
| FY2020, ended May 31, 2020 | $9.98B |
| FY2021, ended May 30, 2021 | $18.7B |
| FY2022, ended May 29, 2022 | $15.6B |
| FY2023, ended May 28, 2023 | $19.5B |
| FY2024, ended May 26, 2024 | $17.5B |
| FY2025, ended May 25, 2025 | $23.9B |
| FY2026, ended May 31, 2026 | $23.3B |
| Trailing 12 months to Aug 30, 2026 (through Q1 FY2027) | $24.4B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Aug 30, 2026. Hover or tap a column for another year.$13.4B
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| Period | Revenue |
|---|---|
| FY2017, ended May 28, 2017 | $7.17B |
| FY2018, ended May 27, 2018 | $8.08B |
| FY2019, ended May 26, 2019 | $8.51B |
| FY2020, ended May 31, 2020 | $7.81B |
| FY2021, ended May 30, 2021 | $7.20B |
| FY2022, ended May 29, 2022 | $9.63B |
| FY2023, ended May 28, 2023 | $10.5B |
| FY2024, ended May 26, 2024 | $11.4B |
| FY2025, ended May 25, 2025 | $12.1B |
| FY2026, ended May 31, 2026 | $13.2B |
| Trailing 12 months to Aug 30, 2026 (through Q1 FY2027) | $13.4B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Aug 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended May 28, 2017 | $479M | $623M |
| FY2018, ended May 27, 2018 | $596M | $624M |
| FY2019, ended May 26, 2019 | $713M | $816M |
| FY2020, ended May 31, 2020 | −$52.4M | $258M |
| FY2021, ended May 30, 2021 | $629M | $939M |
| FY2022, ended May 29, 2022 | $953M | $888M |
| FY2023, ended May 28, 2023 | $982M | $988M |
| FY2024, ended May 26, 2024 | $1.03B | $1.02B |
| FY2025, ended May 25, 2025 | $1.05B | $1.06B |
| FY2026, ended May 31, 2026 | $1.21B | $1.12B |
| Trailing 12 months to Aug 30, 2026 (through Q1 FY2027) | $1.18B | $1.05B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Aug 30, 2026. Hover or tap a column for another year.$221M
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended May 28, 2017 | $233M |
| FY2018, ended May 27, 2018 | $147M |
| FY2019, ended May 26, 2019 | $457M |
| FY2020, ended May 31, 2020 | $763M |
| FY2021, ended May 30, 2021 | $1.21B |
| FY2022, ended May 29, 2022 | $421M |
| FY2023, ended May 28, 2023 | $368M |
| FY2024, ended May 26, 2024 | $195M |
| FY2025, ended May 25, 2025 | $240M |
| FY2026, ended May 31, 2026 | $220M |
| Trailing 12 months to Aug 30, 2026 (through Q1 FY2027) | $221M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Aug 30, 2026. Hover or tap a column for another year.$2.62B
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| Period | Total debt |
|---|---|
| FY2017, ended May 28, 2017 | $937M |
| FY2018, ended May 27, 2018 | $927M |
| FY2019, ended May 26, 2019 | $928M |
| FY2020, ended May 31, 2020 | $1.20B |
| FY2021, ended May 30, 2021 | $930M |
| FY2022, ended May 29, 2022 | $901M |
| FY2023, ended May 28, 2023 | $885M |
| FY2024, ended May 26, 2024 | $1.46B |
| FY2025, ended May 25, 2025 | $2.13B |
| FY2026, ended May 31, 2026 | $2.33B |
| Trailing 12 months to Aug 30, 2026 (through Q1 FY2027) | $2.62B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 9.8% since 2017.Figures shown are for the trailing 12 months to Aug 30, 2026. Hover or tap a column for another year.113M
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| Period | Shares outstanding |
|---|---|
| FY2017, ended May 28, 2017 | 125M |
| FY2018, ended May 27, 2018 | 124M |
| FY2019, ended May 26, 2019 | 123M |
| FY2020, ended May 31, 2020 | 130M |
| FY2021, ended May 30, 2021 | 131M |
| FY2022, ended May 29, 2022 | 124M |
| FY2023, ended May 28, 2023 | 121M |
| FY2024, ended May 26, 2024 | 119M |
| FY2025, ended May 25, 2025 | 117M |
| FY2026, ended May 31, 2026 | 114M |
| Trailing 12 months to Aug 30, 2026 (through Q1 FY2027) | 113M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Aug 30, 2026. Hover or tap a column for another year.Net: $593M more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2017, ended May 28, 2017 | $230M | $40.7M | $113M |
| FY2018, ended May 27, 2018 | $235M | $42.8M | $37.8M |
| FY2019, ended May 26, 2019 | $208M | $59.8M | $59.3M |
| FY2020, ended May 31, 2020 | $330M | $53.0M | $526M |
| FY2021, ended May 30, 2021 | $45.4M | $72.4M | $46.2M |
| FY2022, ended May 29, 2022 | $1.07B | $60.5M | $40.2M |
| FY2023, ended May 28, 2023 | $459M | $67.5M | $35.4M |
| FY2024, ended May 26, 2024 | $454M | $68.5M | $43.6M |
| FY2025, ended May 25, 2025 | $418M | $79.1M | $55.6M |
| FY2026, ended May 31, 2026 | $672M | $79.1M | $25.0M |
| Trailing 12 months to Aug 30, 2026 (through Q1 FY2027) | $710M | $80.7M | $36.2M |
Revenue (TTM)
$13.4B
+8.1% YoY
Net income (TTM)
$1.18B
+7.5% YoY
Cash
$221M
+4.5% YoY
Total debt
$2.62B
+14.9% YoY
Valuation
At current price- Market Cap
- $24.9B
- P/E
- 21.1×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.9×
- Price / Book
- 12.0×
- EV / EBITDA
- 12.8×
Growth
Trailing 12 months- Revenue (TTM)
- $13.4B
- Revenue Growth YoY
- 8.1%
- Revenue CAGR 3Y
- 8.0%
- Revenue CAGR 5Y
- 12.9%
- EPS Growth YoY
- 9.9%
- Net Income Growth YoY
- 7.5%
Profitability
Trailing 12 months- Gross Margin
- 20.3%
- Operating Margin
- 11.7%
- Net Margin
- 8.8%
- FCF Margin
- 7.9%
- Return on Equity
- 55.1%
Earnings
Trailing 12 months- Net Income
- $1.18B
- EPS (diluted)
- $10.23
- EBITDA
- $2.13B
- Operating Income
- $1.56B
Balance Sheet
As of Aug 30, 2026- Cash and cash equivalents
- $221M
- Total Debt
- $2.62B
- Net Debt
- $2.40B
- Total Assets
- $13.2B
- Total Liabilities
- $11.2B
- Shareholders' Equity
- $2.07B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.79B
- Capital Expenditure
- $735M
- Free Cash Flow
- $1.05B
Dividends and risk
Last 12 months- Dividend Yield
- 2.8%
- Dividend / Share
- $6.24
- Beta (5Y)
- 0.63
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 8.1% year over year, at $13.4B.
Note
Net margin of 8.8% over the last 12 months.
Note
Net debt of $2.40B is 1.1× EBITDA, a manageable load.
Note
Free cash flow of $1.05B, 7.9% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Aug 30, 2026 · filed Oct 2, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2026 · 10-K69Mildly positive
10-K for the fiscal year ended May 31, 2026
Filed Jul 24, 2026 · Read the filing on EDGAR
- Sales rose 9.4% to $13.21 billion and earnings from continuing operations rose 15.5%, helped by an extra week, 4.5% same-restaurant growth and new restaurants.
- Darden is exiting Bahama Breeze: about half of the remaining restaurants closed by April 2026, and the rest will convert to other Darden brands.
- Darden sold its Olive Garden Canada restaurants to Recipe, booked a gain, and now earns royalties there. Chuy's is fully integrated.
- Fiscal 2027 guidance calls for sales of $13.60 billion to $13.75 billion and 75 to 80 new restaurants.
Business momentum
Improving
“Total sales increased 9.4 percent to $13.21 billion in fiscal 2026 from $12.08 billion in fiscal 2025”
Outlook
Positive
“We expect fiscal 2027 sales from continuing operations to be $13.60 billion to $13.75 billion, driven by same-restaurant sales growth (1) of 2.5 percent to 3.5 percent and sales from 75 to 80 new restaurant openings.”
Financial stress
Low
“Net cash flows provided by operating activities from continuing operations were $1.85 billion and $1.71 billion in fiscal 2026 and 2025, respectively.”
Tone against the previous report
More positive
Red flags
- Minor
Other
“On February 3, 2026, we announced the completion of this process and our decision to permanently close approximately half of the remaining Bahama Breeze restaurants”
Positives
Operating income grew faster than sales, lifting the operating margin to 12.0% from 11.3%
“Operating income $ 1,582.8 $ 1,362.3 16.2%”
Same-restaurant sales grew at all segments, led by LongHorn with more guests and higher checks
“The increase in same-restaurant sales in fiscal 2026 resulted from a 3.4 percent increase in average check and a 3.7 percent increase in same-restaurant guest counts.”
Borrowing stays well inside its limit, with over $1 billion of unused credit
“As of May 31, 2026, our adjusted debt to adjusted EBITDAR ratio was 2.0.”
Concerns
Food costs rose faster than menu prices could offset, raising food costs as a share of sales
“Food and beverage costs increased as a percentage of sales, primarily due to a 1.2 percent impact from inflation, partially offset by a 0.9 percent impact from pricing leverage.”
Profit margins fell at LongHorn and Fine Dining, and Fine Dining guest counts slipped
“The decrease in the Fine Dining segment profit margin for fiscal 2026 was driven primarily by higher restaurant labor and food and beverage costs.”
Short-term obligations rose sharply, as commercial paper increased and notes moved into short-term debt
“Our total current liabilities were $3.01 billion at May 31, 2026 and $2.25 billion at May 25, 2025.”
New risks since the previous report
Converting remaining Bahama Breeze restaurants to other brands must be completed over the next 12 to 18 months
“our expectation to convert the remaining restaurants to other Darden brands over the next 12–18 months”
$500 million of notes come due in May 2027 and may be paid or refinanced depending on market conditions
“We expect to satisfy this maturity through available liquidity, which may include cash on hand, operating cash flows, borrowings under our existing credit facility, commercial paper issuances, or refinancing transactions”
Delivery fees paid to Uber Direct are adding to restaurant expenses
“a 0.2 percent impact from Uber Direct fees”
Biggest risks named
- Rising food, labor and utility costs squeezing margins
- Weak economy reducing guest visits and spending
- Tariffs and immigration changes affecting costs and staffing
- Intense competition, including delivery services and grocery prepared meals
- New restaurants and brand conversions costing more or performing below plan
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | +3 | |
| Tone against the previous report | +2 | |
| Financial stress | 0 | |
| Red flags | −0.9 | |
| New risks | −1.5 | |
| Score | 69 | |
Written by AI (Claude Opus 5.5) from the report’s text. 13 of 13 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 2, 2026 | Pro | |||
| 10-K | Jul 24, 2026 | 69 | Improving | 1 minor | |
| 10-K | Jul 18, 2025 | 66 | Improving | 1 minor | |
| 10-K | Jul 19, 2024 | 68 | Improving | None | |
| 10-K | Jul 21, 2023 | 68 | Improving | None | |
| 10-K | Jul 22, 2022 | 76 | Strong improvement | None | |
| 10-K | Jul 23, 2021 | 61 | Mixed | None | |
| 10-K | Jul 24, 2020 | 26 | Sharp deterioration | 2 medium | |
| 10-K | Jul 19, 2019 | 75 | Strong improvement | None | |
| 10-K | Jul 20, 2018 | 74 | Strong improvement | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2027 (period ended Aug 30, 2026), filed Oct 2, 2026. View filings on SEC EDGAR