— Know what they know.
/
Not Investment Advice

DRI

NYSE · USD
Darden Restaurants, Inc.
Consumer Cyclical · Restaurants
CEO Ricardo Cardenas Employees 209,931 R&D / revenue 0.0%
Last price
$216.35+0.95%last session
Market cap
$24.5B
P/E (TTM)
21.0x
From 52w high
−5.8%
From 52w low
+28.0%
1-year return
+15.4%
RSI 14 · vs SMA200
63.1 · +5.7%
IS score
53.3/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

DRI   SPY   XLY (sector ETF) · weekly closes
90100110120Jan 26Apr 26Jul 26Oct 26SPY 116DRI 115XLY 97

Score DNA

Each bar is a 0-100 score within the scored universe
61
Profitability
56
Growth
44
Value
79
Momentum
50
Risk (safety)
60
Quality
32
Balance sheet
90
Earnings quality

Flags

Strengths
None of the computed strength flags fires.
Warnings
None of the computed warning flags fires for DRI (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Weak, Efficient ScalePiotroski 7 / 9Altman Z 2.5Beta 0.592 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
14 open-market sales, $16.0M
Form 144 notices (12m): 20, $24.0M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+54
152 new holders, 89 closed
1,089 filers hold 102.4% · 431 added, 328 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+157
953 funds adding shares
796 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
77.4%
20-day avg 74.6%, 50-day avg 72.8%
Latest 2.8 pp over its 20-day average · a flow, not short interest

Key financials · FY2026

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$13.2B
Revenue growth YoY+9.4%
Gross margin21.7%
Operating income$1.6B
Operating margin12.2%
Net income$1.2B
Net margin9.1%
EPS (diluted)$10.39
Cash flow
Operating cash flow$1.9B
Capital expenditure$734.0M
Free cash flow$1.1B
FCF conversion (FCF / OCF)60.4%
Stock-based compensation$79.1M
FCF less SBC$1.0B
Buybacks$671.7M
Dividends$693.0M
Balance sheet & returns
Cash & short-term investments$219.5M
Total debt$2.4B
Net debt$2.1B
Shareholders' equity$2.2B
Goodwill & intangibles$3.1B
Debt / equity3.20
ROE (TTM)55.9%
ROIC (TTM)12.9%
Operating margin by fiscal year
12.1%FY202211.5%FY202311.5%FY202411.3%FY202512.4%FY2026
Revenue $9.6B (FY2022) to $13.2B (FY2026), a 8.2% CAGR.

Valuation

P/E (TTM)21.0x
EV / EBITDA14.6x
Price / sales1.83x
Price / FCF23.2x
FCF yield4.32%
Buyback yield2.74%
SBC / revenue0.6%
Price / book11.88x
Forward P/E FY202719.0x
Forward multiples divide today's price by Street EPS estimates. Street mean target $240.78 across 9 analysts last quarter is theirs, not ours.

DRI vs industry median

128 companies in Restaurants
Gross margin 33.3% 28.0% Operating margin 12.1% 5.9% Net margin 8.8% 3.1% ROIC 12.9% 7.7%
DRI (TTM)Industry median Asset turnover 1.01 vs industry 1.05 · financial leverage 6.39

Earnings delivery

Next report 2026-12-17 · consensus EPS $2.28
50%
beat rate, 6 of 12 quarters
+0.2%
median EPS surprise
2
longest beat streak
+6+0+2-4+0+0+0-2-1+0+1+0
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-12-15 to 2026-09-24. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
DRI Darden Restaurants, Inc. $24.5B21.0x55.9%8.8%+9.4% +15.4%
QSR Restaurant Brands Internatio $26.1B18.2x35.5%20.1%+6.5% +10.9%
CMG Chipotle Mexican Grill, Inc. $37.8B27.4x49.6%12.1%+7.3% −28.4%
YUMC Yum China Holdings, Inc. $15.5B16.5x17.5%7.8%+8.8% +4.8%
YUM Yum! Brands, Inc. $41.1B18.8x-30.0%39.3%+10.3% +5.5%
TXRH Texas Roadhouse, Inc. $11.1B26.9x27.5%7.3%+9.9% —
DPZ Domino's Pizza, Inc. $10.2B17.0x-20.2%12.8%+4.5% —
EAT Brinker International, Inc. $8.5B18.3x119.6%8.5%+7.9% —
12-month window: SPY +15.9%, sector ETF XLY −3.2%. Past returns describe history only.

Recent 8-K filings

2026-09-24Shareholder Vote
2026-09-24Earnings Release; Exhibits
2026-06-25Earnings Release; Bylaws Amendment; Exhibits
2025-12-18Results of Operations and Financial Condition; Financial Statements and Exhibits
2025-09-19Departure/Election of Directors; Appointment of Officers; Submission of Matters to a Vote of Security Holders; Financial Statements and Exhibits
2025-09-18Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding113,143,224
Free float99.7%
Institutional ownership102.4%
Beta0.59
Dividend yield2.88%
Last dividend$1.62 on 2026-10-09
50 / 200-day average$211.42 / $204.71
Large-cap Consumer Cyclical median P/E24.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where DRI sits among 32 scored companies in Restaurants (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureDRIIndustry medianIndustry percentileSector median
P/E (TTM) 20.7x 25.5x
41st		 17.7x
PEG (P/E ÷ 3-yr EPS CAGR) 2.40 1.12
71st		 0.96
Price / sales 1.8x 1.7x
61st		 1.0x
Price / book 11.8x 3.0x
91st		 2.4x
Price / tangible book —
Price / free cash flow 23.2x 24.1x
46th		 15.2x
Price / operating cash flow 13.7x 13.6x
52nd		 10.2x
Enterprise value $30.9B $3.2B
84th		 $5.6B
EV / sales 2.3x 2.0x
65th		 1.4x
EV / EBITDA 14.6x 15.4x
40th		 11.4x
EV / EBIT 19.9x 23.1x
44th		 16.0x
EV / free cash flow 29.2x 31.4x
42nd		 21.0x
Earnings yield 4.8% 3.5%
65th		 4.8%
FCF yield 4.3% 3.6%
61st		 5.9%
Operating cash flow yield 7.3% 7.3%
52nd		 9.3%
Graham number (per share) $64.84 $13.49
100th		 $33.39

Profitability (TTM)

MeasureDRIIndustry medianIndustry percentileSector median
Gross margin 33.3% 27.3%
68th		 34.2%
EBITDA margin 15.9% 13.1%
74th		 11.7%
Operating margin 12.1% 9.5%
65th		 8.7%
EBIT margin 11.6% 7.6%
71st		 8.2%
Net margin 8.8% 4.9%
77th		 4.9%
NOPAT margin 10.6% 7.6%
74th		 6.8%
FCF margin 7.9% 5.9%
58th		 6.5%
Operating cash flow margin 13.4% 12.9%
55th		 10.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 5.2% 10.1%
10th		 17.2%
Stock comp / revenue 0.6% 0.6%
45th		 0.6%
Effective tax rate 12.7% 21.0%
23rd		 22.4%

Returns on capital

MeasureDRIIndustry medianIndustry percentileSector median
ROE (on average equity) 55.1% 9.4%
91st		 12.8%
ROA 9.1% 4.5%
74th		 4.4%
ROIC 16.7% 8.7%
68th		 9.3%
ROCE 15.5% 6.9%
68th		 9.9%
Return on tangible assets 11.9% 6.4%
65th		 7.4%
Cash ROIC (OCF / invested capital) 21.1% 14.7%
60th		 14.4%
Gross profitability (GP / assets) 33.7% 25.2%
61st		 31.6%
ROIC, 3-yr average 13.2% 6.1%
71st		 7.4%
ROIC, 5-yr average 14.2% 4.0%
90th		 9.1%
ROE, 5-yr average 49.0% 9.5%
95th		 15.8%
Incremental ROIC -29.5% -0.6%
26th		 11.2%

Growth

MeasureDRIIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 8.1% 7.5%
65th		 6.0%
Revenue growth (QoQ) -13.9% 6.4%
3rd		 6.6%
Revenue CAGR, 3 yr 7.5% 6.3%
53rd		 3.0%
Revenue CAGR, 5 yr 10.9% 7.0%
64th		 5.9%
Gross profit CAGR, 3 yr 26.7% 6.1%
77th		 3.3%
Operating income CAGR, 3 yr 10.3% 9.0%
56th		 2.1%
Net income growth (TTM YoY) 7.5% 5.4%
56th		 4.7%
Net income CAGR, 3 yr 6.3% 7.7%
42nd		 1.4%
EPS growth (TTM YoY) 10.5% 8.5%
52nd		 7.6%
EPS CAGR, 3 yr 8.6% 8.6%
50th		 3.4%
EPS CAGR, 5 yr 10.6% 7.3%
59th		 2.9%
FCF growth (TTM YoY) -1.9% 9.1%
28th		 26.3%
FCF CAGR, 3 yr 11.6% 7.4%
71st		 6.5%
Operating cash flow CAGR, 3 yr 8.9% 9.1%
43rd		 6.7%
Book value CAGR, 3 yr 0.9% 7.0%
38th		 8.1%
Dividend CAGR, 3 yr 3.9% 2.2%
71st		 3.2%
Sustainable growth rate 22.4% 10.6%
79th		 12.2%

Margin history & stability

MeasureDRIIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 29.5% 29.1%
53rd		 34.9%
Operating margin, 3-yr average 11.8% 8.8%
67th		 8.0%
Net margin, 3-yr average 9.0% 5.8%
77th		 4.8%
FCF margin, 3-yr average 8.4% 6.4%
60th		 5.7%
Revenue stability (0-1) 0.98 0.92
80th		 0.80
Earnings stability (0-1) 0.99 0.71
100th		 0.43
Margin stability (0-1) 0.73 0.84
20th		 0.92

Liquidity (latest quarter)

MeasureDRIIndustry medianIndustry percentileSector median
Cash & short-term investments $220.5M $168.9M
58th		 $278.1M
Net cash (− = net debt) −$6.4B −$969.1M
13th		 −$1.2B
Working capital −$2.2B −$49.4M
3rd		 $298.0M
Current ratio 0.30 0.87
13th		 1.49
Quick ratio 0.20 0.79
3rd		 0.92
Cash ratio (cash + ST investments / current liabilities) 0.07 0.34
0th		 0.31
Defensive interval (days) 44 days 269 days
13th		 290 days

Leverage & solvency (latest quarter)

MeasureDRIIndustry medianIndustry percentileSector median
Total debt $6.6B $1.1B
87th		 $1.8B
Debt / equity 3.20 1.27
78th		 1.04
Net debt / equity 3.10 1.12
78th		 0.78
Debt / assets 50.1% 53.9%
45th		 39.7%
Debt / capital 76.2% 55.6%
78th		 51.0%
Debt / EBITDA 3.12 3.93
30th		 3.26
Net debt / EBITDA 3.02 3.34
40th		 2.42
Interest coverage (EBIT / interest) 10.5x 5.2x
70th		 5.1x
Cash interest coverage 12.1x 6.9x
67th		 6.0x
Debt payback (years of OCF) 3.7 yrs 4.7 yrs
45th		 3.8 yrs
Liabilities / assets 84.4% 75.8%
68th		 68.1%
IS credit model rating BBB- — —
Implied credit spread (bps) 350 400
35th		 275

Efficiency

MeasureDRIIndustry medianIndustry percentileSector median
Asset turnover 1.03 1.04
48th		 1.00
Fixed asset turnover 1.51 2.05
32nd		 3.73
Inventory turnover 28.3 63.7
19th		 5.3
Receivables turnover 126.0 38.8
97th		 19.9
Days sales outstanding 3 days 9 days
3rd		 18 days
Days inventory outstanding 13 days 6 days
81st		 68 days
Days payables outstanding 19 days 19 days
52nd		 42 days
Cash conversion cycle (days) −3 days −3 days
52nd		 44 days
Capex / revenue 5.5% 5.3%
52nd		 3.1%
Capex / depreciation 1.28 1.23
52nd		 0.89
Operating expense ratio 59.2% 17.1%
90th		 24.8%

Cash flow & earnings quality

MeasureDRIIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.51 2.05
26th		 1.76
FCF / net income 0.89 1.04
37th		 1.18
FCF / operating cash flow 59.2% 58.7%
52nd		 70.1%
Capex / operating cash flow 40.8% 41.3%
48th		 29.9%
Accruals ratio -4.6% -7.8%
74th		 -5.7%
Sloan accruals ratio -10.8% -5.5%
26th		 -3.6%
Earnings quality score (0-1) 1.00 0.75
78th		 0.75

Dividends & buybacks

MeasureDRIIndustry medianIndustry percentileSector median
Dividend yield 2.9% 1.0%
77th		 0.8%
Dividend per share (TTM) $6.24 $0.38
94th		 $0.40
Payout ratio (dividends / net income) 59.4% 31.0%
69th		 17.8%
Dividends / FCF 66.4% 26.4%
80th		 11.6%
Dividend growth (YoY) 8.1% 5.5%
67th		 4.8%
Buyback yield 2.9% 0.1%
74th		 1.6%
Shareholder yield (dividends + buybacks) 5.8% 3.1%
74th		 3.7%
Share count change (YoY) -2.7% 0.0%
26th		 -0.9%
Buybacks, last 5 years $2.9B $8.9M
87th		 $198.3M

Scores & forensic checks

MeasureDRIIndustry medianIndustry percentileSector median
IS score 53 52
58th		 50
IS profitability 61 40
84th		 38
IS growth 56 56
52nd		 53
IS value 44 44
55th		 50
IS momentum 79 75
61st		 72
IS risk (safety) 50 65
23rd		 65
IS quality 60 61
45th		 63
IS balance sheet 32 42
35th		 48
IS earnings quality 90 80
94th		 77
IS cash flow 51 54
45th		 56
Piotroski F-score (0-9) 7 6
55th		 6
Altman Z-score 2.5 2.6
45th		 2.8
Beneish M-score −2.69 −2.68
45th		 −2.69
Ohlson O-score −5.75 −6.27
61st		 −6.83
IS credit score 51 48
55th		 58

Per share

MeasureDRIIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $10.33 $1.13
90th		 $2.05
Book value per share $18.08 $6.92
77th		 $14.46
Tangible book per share −$8.24 $2.45
23rd		 $3.70
Revenue per share $116.84 $34.63
84th		 $46.29
FCF per share $9.24 $1.92
84th		 $2.72
Operating cash flow per share $15.62 $4.18
84th		 $4.86
Cash per share $1.93 $2.36
42nd		 $3.59

Size (TTM)

MeasureDRIIndustry medianIndustry percentileSector median
Market cap $24.5B $1.6B
84th		 $3.6B
Revenue $13.4B $1.9B
94th		 $3.9B
EBITDA $2.1B $230.5M
84th		 $442.3M
Net income $1.2B $53.6M
84th		 $178.6M
Free cash flow $1.1B $94.2M
84th		 $206.3M
Total assets $13.2B $1.9B
90th		 $4.4B
Shareholders' equity $2.1B $472.9M
90th		 $957.6M
Employees 209,931 16,450
97th		 12,300

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-06Martin Melvin John
Group President
 Open-market sale 2,209$202.61$447,56521,560
2026-09-29Madonna John W.
SVP, Corporate Controller
 Gift 75——10,808
2026-09-28Madonna John W.
SVP, Corporate Controller
 Gift 510——10,883
2026-09-23Chugg Juliana L
Director
 Award / grant 936——936
2026-09-23Wilmott Timothy J
Director
 Award / grant 936——936
2026-09-23Sonsteby Charles M
Director
 Award / grant 936——936
2026-09-23Simon William S
Director
 Award / grant 936——936
2026-09-23Kenningham Daryl
Director
 Award / grant 936——936
2026-09-23Jamison Cynthia T
Director, other: Chairman of the Board
 Award / grant 1,404——1,404
2026-09-23Fogarty James P
Director
 Award / grant 936——936
2026-09-23Atkins M Shan
Director
 Award / grant 936——936
2026-09-17Simon William S
Director
 Option exercise 886——7,167

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired48173,134$18.1M
GiftDisposed2585—
Open-market saleDisposed1476,767$16.0M
Option exerciseAcquired47145,088$4.5M
Option exerciseDisposed46144,356$4.5M
Tax withholdingDisposed3539,583$7.8M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 20 notices · 115,809 shares · $24.0M
FiledFilerShares proposedEst. proceeds
2026-10-06M John Martin2,209$447,565
2026-08-05John W Wilkerson8,864$1.8M
2026-07-31Laura Williamson1,110$226,792
2026-07-31Christopher Williamson443$90,768
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 11 trades (5 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-04-09Josh GottheimerHouseSale$15,001 - $50,0002026-05-20
2026-04-09Josh GottheimerHouseSale (Full)$15,001 - $50,0002026-05-20
2026-04-08Josh S. GottheimerHouseSale (Full)$15,001 - $50,0002026-05-20
2026-01-07Rick LarsenHousePurchase$1,001 - $15,0002026-01-15
2020-04-02Thomas R. CarperSenateSale (Full)$1,001 - $15,0002021-05-17
2020-04-02Thomas R. CarperSenateSale (Full)$1,001 - $15,0002021-05-16
2020-04-02Thomas Richard CarperSenateSale (Full)$1,001 - $15,0002021-05-16
2020-04-02Thomas R. CarperSenateSale (Full)$1,001 - $15,0002020-05-04
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
Capital World Investors15,169,444$3.1B13.41%
BlackRock, Inc.9,781,606$2.0B8.65%
VANGUARD CAPITAL MANAGEMENT LLC7,473,025$1.5B6.60%
VANGUARD PORTFOLIO MANAGEMENT LLC5,374,923$1.1B4.75%
STATE STREET CORP5,004,209$1.0B4.42%
WELLINGTON MANAGEMENT GROUP LLP3,884,070$800.2M3.43%
CHARLES SCHWAB INVESTMENT MANAGEMENT INC3,711,141$764.5M3.28%
Sixth Street Partners Management Company, L.P.3,711,141$764.5M3.28%
RAYMOND JAMES FINANCIAL INC3,702,140$762.7M3.27%
GEODE CAPITAL MANAGEMENT, LLC3,460,025$711.4M3.06%
BANK OF AMERICA CORP /DE/3,163,986$651.8M2.80%
JPMORGAN CHASE & CO1,904,259$391.7M1.68%
Newport Trust Company, LLC1,752,479$361.0M1.55%
MORGAN STANLEY1,716,162$353.5M1.52%
Invesco Ltd.1,373,006$282.9M1.21%

Institutional ownership by quarter

2023-092026-06102.4%
% of shares held by 13F filers
2023-092026-061,089
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,089102.4%15243132889
2026-03-311,03597.5%13937231686
2025-12-311,00399.2%142303371103
2025-09-3098795.0%80341370135
2025-06-301,06496.6%13842629576
2025-03-311,01797.5%15035832573
2024-12-3195199.1%16129632882
2024-09-3088698.9%8927635296
2024-06-30901100.9%97307327106
2024-03-31925102.0%10332431784
2023-12-3191698.5%14628631367
2023-09-3085299.9%9028130380

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-15SCHEDULE 13G/AWellington Management Company LLP5.9%6,848,992
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%8,623,952
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2026-02-10SCHEDULE 13GWellington Management Company LLP7.0%8,077,567
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.03%$696.7M
VTI0.03%$696.7M
VTSAX0.03%$696.7M
VSMPX0.03%$696.7M
SCHD0.59%$667.6M
VWELX0.47%$587.4M

Share structure

Shares outstanding113,143,224
Float112,785,129
Free float99.7%

Income statement

Fiscal years, USD
FY2022FY2023FY2024FY2025FY2026
Revenue$9.6B$10.5B$11.4B$12.1B$13.2B
Cost of revenue$7.6B$8.4B$9.0B$9.4B$10.3B
Gross profit$2.0B$2.1B$2.4B$2.6B$2.9B
R&D$0$0$0$0$0
SG&A$466.4M$504.4M$623.7M$690.2M$694.8M
Operating income$1.2B$1.2B$1.3B$1.4B$1.6B
EBITDA$1.5B$1.6B$1.8B$1.9B$2.1B
Pretax income$1.1B$1.1B$1.2B$1.2B$1.4B
Income tax$138.8M$137.0M$145.0M$136.2M$174.9M
Net income$952.8M$981.9M$1.0B$1.0B$1.2B
EPS, diluted$7.39$7.99$8.51$8.86$10.39
Diluted shares129.0M122.9M120.8M118.4M115.2M

Balance sheet

FY2022FY2023FY2024FY2025FY2026
Cash & short-term investments$420.6M$367.8M$194.8M$240.0M$219.5M
Receivables$72.0M$80.2M$79.1M$93.8M$129.9M
Inventory$270.6M$287.9M$290.5M$311.6M$326.3M
Total current assets$1.2B$997.7M$822.8M$937.7M$942.9M
PP&E, net$6.8B$7.1B$7.6B$8.3B$8.5B
Goodwill & intangibles$1.8B$1.8B$2.6B$3.0B$3.1B
Total assets$10.1B$10.2B$11.3B$12.6B$12.9B
Accounts payable$366.9M$426.2M$399.5M$439.6M$427.7M
Total current liabilities$1.8B$1.9B$2.2B$2.2B$3.0B
Long-term debt$929.0M$930.3M$1.4B$2.2B$1.7B
Total liabilities$7.9B$8.0B$9.1B$10.3B$10.7B
Shareholders' equity$2.2B$2.2B$2.2B$2.3B$2.2B

Cash flow statement

Outflows are negative
FY2022FY2023FY2024FY2025FY2026
Net income$954.7M$983.5M$1.0B$1.0B$1.2B
Depreciation & amortization$368.4M$387.8M$459.9M$516.1M$561.1M
Stock-based compensation$60.5M$67.5M$68.5M$79.1M$79.1M
Change in working capital−$117.0M$184.7M$72.0M$6.6M−$25.2M
Operating cash flow$1.3B$1.5B$1.6B$1.7B$1.9B
Capital expenditure−$399.1M−$593.8M−$628.3M−$671.9M−$734.0M
Free cash flow$857.0M$951.8M$983.6M$1.0B$1.1B
Investing cash flow−$389.0M−$568.4M−$1.3B−$1.3B−$711.4M
Net debt issued / repaid−$12.9M−$19.8M$566.9M$635.3M$175.9M
Buybacks−$1.1B−$458.7M−$453.9M−$418.2M−$671.7M
Dividends paid−$563.0M−$589.8M−$628.4M−$658.5M−$693.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2022FY2023FY2024FY2025FY2026
Gross margin20.7%19.9%21.2%21.9%33.0%
Operating margin12.1%11.5%11.5%11.3%12.4%
Net margin9.9%9.4%9.0%8.7%9.1%
FCF margin8.9%9.0%8.7%8.6%8.5%
ROE38.0%44.6%46.2%46.1%53.4%
ROIC15.2%15.9%15.4%14.5%17.3%
ROA9.2%9.6%9.5%8.8%9.5%
Debt / equity2.222.182.422.702.87
Interest coverage16.3x15.6x9.7x7.7x8.1x
Current ratio0.640.510.380.420.31
Revenue growth+33.8%+8.9%+8.6%+6.0%+9.4%
EPS growth+59.7%+5.9%+6.4%+4.0%+17.7%
P/E at year end14.6x18.2x16.7x22.6x19.5x
EV / EBITDA at year end12.0x13.9x12.6x15.8x13.9x
FCF yield at year end6.14%5.31%5.73%4.37%4.76%
Dividend payout59.1%60.1%61.2%62.7%57.4%

Revenue by segment

FY2022FY2023FY2024FY2025FY2026
Olive Garden$4.5B—$5.1B$5.2B$5.6B
LongHorn Steakhouse$2.4B—$2.8B$3.0B$3.4B
Other Segments$2.0B$2.2B——$2.8B
Fine Dining Segment$776.2M$830.8M$1.3B$1.3B$1.4B

Street estimates by fiscal year

Next report 2026-12-17 · consensus EPS $2.28 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$13.2B$13.1B – $13.2B$10.63$10.59 – $10.671420.4x
2026$13.2B$13.2B – $13.2B$10.63$10.58 – $10.671420.4x
2027$13.7B$13.6B – $13.8B$11.39$11.17 – $11.801819.0x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-09-24$2.05$2.050.0%$3.2B$3.2B−0.2%
2026-06-25$3.63$3.66+0.8%$3.7B$3.7B−0.3%
2026-03-19$2.94$2.95+0.3%$3.3B$3.3B+0.3%
2025-12-18$2.10$2.08−1.0%$3.1B$3.1B+0.9%
2025-09-18$2.00$1.97−1.5%$3.0B$3.0B+0.1%
2025-06-20$2.97$2.98+0.3%$3.3B$3.3B+0.3%
2025-03-20$2.80$2.800.0%$3.2B$3.2B−1.8%
2024-12-19$2.02$2.03+0.5%$2.9B$2.9B+0.7%
2024-09-19$1.83$1.75−4.4%$2.8B$2.8B−1.5%
2024-06-20$2.61$2.65+1.5%$3.0B$3.0B−0.5%
2024-03-21$2.62$2.620.0%$3.0B$3.0B−1.6%
2023-12-15$1.74$1.84+5.7%$3.0B$2.7B−10.4%
2023-09-21$1.74$1.78+2.3%$2.7B$2.7B+0.9%
2023-06-22$2.54$2.58+1.6%$2.8B$2.8B+0.0%
2023-03-23$2.25$2.34+4.0%$2.7B$2.8B+1.9%
2022-12-16$1.44$1.52+5.6%$2.4B$2.5B+2.3%
2022-09-22$1.56$1.53−1.9%$2.5B$2.4B−1.0%
2022-06-23$2.21$2.27+2.7%$2.5B$2.6B+2.5%
2022-03-24$2.10$1.91−9.0%$2.5B$2.4B−2.5%
2021-12-17$1.43$1.48+3.5%$2.5B$2.3B−10.6%
2021-09-23$1.65$1.76+6.7%$2.1B$2.3B+8.7%
2021-06-24$1.79$2.03+13.4%$2.1B$2.3B+7.5%
2021-03-25$0.69$0.98+42.0%$1.6B$1.7B+7.5%
2020-12-18$0.71$0.74+4.2%$1.6B$1.7B+6.1%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.306-150.706-220.406-290.507-060.407-130.407-200.607-270.308-030.308-100.308-170.308-240.308-31
Week ofNotionalSharesTrades
2026-08-31$309.7M1,423,07256,826
2026-08-24$273.2M1,246,93844,438
2026-08-17$349.7M1,572,51452,087
2026-08-10$326.4M1,472,96951,246
2026-08-03$322.0M1,547,32951,899
2026-07-27$576.2M2,787,10863,696

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1577.4%
DateShort shareShort volumeTotal volume
2026-10-1577.4%308,569398,605
2026-10-1476.5%227,979297,849
2026-10-1379.4%384,983484,601
2026-10-1284.0%387,961461,998
2026-10-0974.5%239,106320,939
2026-10-0875.4%300,876399,200
2026-10-0779.7%376,050471,745
2026-10-0680.5%287,768357,582
2026-10-0576.3%310,780407,345
2026-10-0283.5%389,619466,547
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.9Jan+2.8Feb+2.6Mar+3.1Apr+0.9May-0.3Jun-0.7Jul+0.1Aug+0.8Sep-0.4Oct+3.0Nov+3.3Dec
MonthAvg returnUp yearsYears
Jan+1.9%80%20
Feb+2.8%75%20
Mar+2.6%71%21
Apr+3.1%50%20
May+0.9%65%20
Jun−0.3%50%20
Jul−0.7%40%20
Aug+0.1%45%20
Sep+0.8%55%20
Oct−0.4%45%20
Nov+3.0%75%20
Dec+3.3%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1463.1
MFI61.1
ADX17.8
Stochastic %K / %D95.3 / 84.1
Williams %R-9.4
CCI143
TSI / signal-0.0 / -10.8
Chaikin money flow-0.03
ATR$5.22
Bollinger width14.7%
Volume vs 20-day avg0.61x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$202.89 (+6.6%)
SMA 50$211.17 (+2.5%)
SMA 200$204.59 (+5.7%)
EMA 21$205.36 (+5.4%)
EMA 50$206.90 (+4.6%)
EMA 200$203.47 (+6.3%)
Bollinger upper$217.76 (−0.6%)
Bollinger lower$188.02 (+15.1%)
Parabolic SAR$195.45 (+10.7%)
Open the live chart, 110+ indicators

About Darden Restaurants, Inc.

Darden Restaurants, Inc., through its various subsidiaries, focuses on the ownership and operation of full-service dining establishments across both the United States and Canada. As of May 29, 2022, the company's extensive portfolio comprised 1,867 directly managed restaurants. These included a significant presence from its flagship brands: 884 Olive Garden outlets, 546 LongHorn Steakhouse locations, 172 Cheddar's Scratch Kitchens, 85 Yard House venues, 62 Capital Grille branches, 45 Seasons 52 restaurants, 42 Bahama Breeze sites, 28 Eddie V's Prime Seafood establishments, and 3 Capital Burger eateries. In addition to its owned operations, Darden also oversees 60 franchised restaurants, specifically 35 Olive Garden units, 18 LongHorn Steakhouse units, 4 Cheddar's Scratch Kitchens, 2 Capital Grille locations, and 1 Bahama Breeze restaurant. The company, which originated in 1968, is headquartered in Orlando, Florida.

https://www.darden.com

Key executives

NameTitlePayBorn
Ricardo CardenasChief Executive Officer, President & Director$6.6M1968
John Melvin MartinPresident of Specialty Restaurant Group$2.4M1961
Todd A. BurrowesPresident of Business Development$2.4M1963
Rajesh VennamSenior Vice President & Chief Financial Officer$2.4M1974
Sarah H. KingSenior Vice President & Chief People Officer$1.7M1970
Lindsay L. KorenSenior Vice President, General Counsel, Chief Compliance Officer & Corporate Secretary$1.4M1978
Douglas J. MilanesSenior Vice President & Chief Supply Chain Officer—1963
Falon FarrellPresident, Eddie V's & The Capital Grille——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Ricardo Cardenas President and Chief Executive Officer2026$1.3M$25.9M$4.1M$34.8M
Rajesh Vennam Senior Vice President, Chief Financial Officer2026$815,385$2.4M$1.1M$5.5M
M. John Martin Group President2026$811,058$1.3M$1.2M$4.1M
Todd A. Burrowes Group President and President, Chuy's2026$811,058$1.3M$1.2M$4.1M
Matthew R. Broad Former Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary2026$450,000$1.5M$592,875$3.2M
Sarah H. King Senior Vice President, Chief People Officer2026$612,981$1.2M$839,273$3.2M

Employees

185k2019177k2020157k2021179k2022187k2023191k2024198k2025210k2026

Dividends

Ex-dateAmountPaid
2026-10-09$1.622026-11-02
2026-07-10$1.622026-08-03
2026-04-10$1.52026-05-01
2026-01-09$1.52026-02-02
2025-10-10$1.52025-11-03
2025-07-10$1.52025-08-01
2025-04-10$1.42025-05-01
2025-01-10$1.42025-02-03

Moat model

Weak · Efficient Scale · 2026-08-30
Cost advantage30
Intangibles36
Switching costs12
Network effect65
Efficient scale90
Our component scores (0-100) and overall 41.3; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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