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DRIDarden Restaurants

Consumer discretionary · Restaurants · NYSE
Headquarters
Orlando, FL
CEO
Ricardo Cardenas
Next results
around Dec 17, 2026
Compare with peers → Embed
All key numbers (39, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)10.23Sales (ttm)13.4BNet income (ttm)1.2BSales growth+9.4%EPS growth+17.2%Sales Q/Q+5.1%
Free cash flow1.1BGross margin20.3%Oper. margin11.7%Net margin8.8%FCF margin7.9%ROE57.2%
ROA8.9%R&D / sales-Dividend6.00Debt/Eq1.26Curr. ratio0.30Cash220.5M
Op. cash flow (ttm)1.8BEBITDA2.1BEBITDA margin16.2%Net debt2.4BQuick ratio0.20Interest cover12.51
ROIC29.5%Payout ratio57.8%Tax rate12.6%Stock pay / sales0.6%Shares out.113.1MShares Y/Y-1.8%
Book / share18.28Cash / share1.95Sales / share118.14Asset turnover1.01Days sales out.4Sales 3Y CAGR+8.0%
Sales 5Y CAGR+12.9%EPS 3Y CAGR+9.1%EPS 5Y CAGR+16.8%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

DRI against Consumer discretionary peers

Ten years, side by side → · All 47 →
GrowthProfitBalanceCleanInsiders
DRIPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 47 companies, the better end on the right. Hover a dot for the company.

Sales growth
+9.4%13th of 47 · median +5.4%
Net margin
8.8%30th of 47 · median 10.8%
Return on equity
57.2%4th of 34 · median 32.5%
Free cash flow margin
7.9%31st of 45 · median 9.4%
Debt / equity (less is better)
1.2618th of 28 · median 0.73
DRI and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
DRI Darden Restaurants$13.4B +9.4%20.3%8.8%57.2%7.9%1.26
ABNB Airbnb$13.9B +10.3%83.1%23.0%34.4%-0.25
LVS Las Vegas Sands$13.6B +15.2%-11.8%-17.7%-
ULTA Ulta Beauty$13.0B +9.7%39.3%9.3%45.8%8.9%0.13
CMG Chipotle Mexican Grill$12.7B +5.4%-10.8%56.1%11.9%0.00
HLT Hilton Worldwide$12.7B +7.7%-13.4%-15.2%-

From $9.6B of sales to $952.8M of profit

FY2022, from the 10-K income statement
Revenue to Gross profit: $1.9BRevenue to Cost of revenue: $7.7BGross profit to Operating profit: $1.2BGross profit to Operating expenses: $739.6MOperating profit to Net profit: $952.8MOperating profit to Tax & other: $209.4M Revenue: $9.6B Revenue$9.6B +34% Y/Y Gross profit: $1.9B · 20% margin Gross profit$1.9B20% margin +36% Y/Y Cost of revenue: $7.7B · 80% of revenue Cost of revenue$7.7B80% of revenue Operating profit: $1.2B · 12% margin Operating profit$1.2B12% margin +79% Y/Y Operating expenses: $739.6M · 8% of revenue Operating expenses$739.6M8% of revenue Net profit: $952.8M · 10% margin Net profit$952.8M10% margin +51% Y/Y Tax & other: $209.4M · 2% of revenue Tax & other$209.4M2% of revenue

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From $10.5B of sales to $981.9M of profit

FY2023, from the 10-K income statement and revenue by segment
Olive Garden to Revenue: $4.9BLong Horn Steakhouse to Revenue: $2.6BAll Other Segments to Revenue: $2.2BFine Dining to Revenue: $830.8MRevenue to Gross profit: $2.0BRevenue to Cost of revenue: $8.5BGross profit to Operating profit: $1.2BGross profit to Operating expenses: $789.2MOperating profit to Net profit: $981.9MOperating profit to Tax & other: $219.9M Olive Garden: $4.9B · 47% Olive Garden$4.9B47% Long Horn Steakhouse: $2.6B · 25% Long Horn Steakhouse$2.6B25% All Other Segments: $2.2B · 21% All Other Segments$2.2B21% Fine Dining: $830.8M · 8% Fine Dining$830.8M8% Revenue: $10.5B Revenue$10.5B +9% Y/Y Gross profit: $2.0B · 19% margin Gross profit$2.0B19% margin +5% Y/Y Cost of revenue: $8.5B · 81% of revenue Cost of revenue$8.5B81% of revenue Operating profit: $1.2B · 11% margin Operating profit$1.2B11% margin +3% Y/Y Operating expenses: $789.2M · 8% of revenue Operating expenses$789.2M8% of revenue Net profit: $981.9M · 9% margin Net profit$981.9M9% margin +3% Y/Y Tax & other: $219.9M · 2% of revenue Tax & other$219.9M2% of revenue

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From $11.4B of sales to $1.0B of profit

FY2024, from the 10-K income statement and revenue by segment
Olive Garden to Revenue: $5.1BLong Horn Steakhouse to Revenue: $2.8BAll Other Segments to Revenue: $2.2BFine Dining to Revenue: $1.3BRevenue to Gross profit: $2.3BRevenue to Cost of revenue: $9.1BGross profit to Operating profit: $1.3BGross profit to Operating expenses: $975.8MOperating profit to Net profit: $1.0BOperating profit to Tax & other: $286.6M Olive Garden: $5.1B · 44% Olive Garden$5.1B44% Long Horn Steakhouse: $2.8B · 25% Long Horn Steakhouse$2.8B25% All Other Segments: $2.2B · 20% All Other Segments$2.2B20% Fine Dining: $1.3B · 11% Fine Dining$1.3B11% Revenue: $11.4B Revenue$11.4B +9% Y/Y Gross profit: $2.3B · 20% margin Gross profit$2.3B20% margin +15% Y/Y Cost of revenue: $9.1B · 80% of revenue Cost of revenue$9.1B80% of revenue Operating profit: $1.3B · 12% margin Operating profit$1.3B12% margin +9% Y/Y Operating expenses: $975.8M · 9% of revenue Operating expenses$975.8M9% of revenue Net profit: $1.0B · 9% margin Net profit$1.0B9% margin +5% Y/Y Tax & other: $286.6M · 3% of revenue Tax & other$286.6M3% of revenue

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From $12.1B of sales to $1.0B of profit

FY2025, from the 10-K income statement and revenue by segment
Olive Garden to Revenue: $5.2BLong Horn Steakhouse to Revenue: $3.0BAll Other Segments to Revenue: $2.5BFine Dining to Revenue: $1.3BRevenue to Gross profit: $2.5BRevenue to Cost of revenue: $9.6BGross profit to Operating profit: $1.4BGross profit to Operating expenses: $1.1BOperating profit to Net profit: $1.0BOperating profit to Tax & other: $312.7M Olive Garden: $5.2B · 43% Olive Garden$5.2B43% Long Horn Steakhouse: $3.0B · 25% Long Horn Steakhouse$3.0B25% All Other Segments: $2.5B · 21% All Other Segments$2.5B21% Fine Dining: $1.3B · 11% Fine Dining$1.3B11% Revenue: $12.1B Revenue$12.1B +6% Y/Y Gross profit: $2.5B · 20% margin Gross profit$2.5B20% margin +8% Y/Y Cost of revenue: $9.6B · 80% of revenue Cost of revenue$9.6B80% of revenue Operating profit: $1.4B · 11% margin Operating profit$1.4B11% margin +4% Y/Y Operating expenses: $1.1B · 9% of revenue Operating expenses$1.1B9% of revenue Net profit: $1.0B · 9% margin Net profit$1.0B9% margin +2% Y/Y Tax & other: $312.7M · 3% of revenue Tax & other$312.7M3% of revenue

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From $13.2B of sales to $1.2B of profit

FY2026, from the 10-K income statement and revenue by segment
Olive Garden to Revenue: $5.6BLong Horn Steakhouse to Revenue: $3.4BAll Other Segments to Revenue: $2.8BFine Dining to Revenue: $1.4BRevenue to Gross profit: $2.7BRevenue to Cost of revenue: $10.5BGross profit to Operating profit: $1.6BGross profit to Operating expenses: $1.1BOperating profit to Net profit: $1.2BOperating profit to Tax & other: $376.1M Olive Garden: $5.6B · 42% Olive Garden$5.6B42% Long Horn Steakhouse: $3.4B · 26% Long Horn Steakhouse$3.4B26% All Other Segments: $2.8B · 21% All Other Segments$2.8B21% Fine Dining: $1.4B · 10% Fine Dining$1.4B10% Revenue: $13.2B Revenue$13.2B +9% Y/Y Gross profit: $2.7B · 20% margin Gross profit$2.7B20% margin +8% Y/Y Cost of revenue: $10.5B · 80% of revenue Cost of revenue$10.5B80% of revenue Operating profit: $1.6B · 12% margin Operating profit$1.6B12% margin +16% Y/Y Operating expenses: $1.1B · 8% of revenue Operating expenses$1.1B8% of revenue Net profit: $1.2B · 9% margin Net profit$1.2B9% margin +15% Y/Y Tax & other: $376.1M · 3% of revenue Tax & other$376.1M3% of revenue

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Where each $100 of sales went

FY2022
FY2023
FY2024
FY2025
FY2026
  • Cost of revenue
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

2 of 4
  • !
    Net margin below the peer median8.8% vs 10.8%
  • ✓
    Gross margin up over 5 years19.5% → 20.3%
  • ✓
    Return on equity above 15%57.2%
  • !
    A profit in 9 of 10 years
Net margin, FY2017 to FY2026: 6.7% → 9.1%

Balance sheet

2 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 12.5× interest expense
  • !
    Debt larger than equityDebt / equity 1.26 on the latest balance sheet (peer median 0.73)
  • !
    Current ratio below 1Current ratio 0.30
  • ✓
    Net debt under 3 years of free cash flow$2.4B net debt, 2.3 years
Debt / equity at each year end, FY2017 to FY2026: 0.45 → 1.06
What the debt is made of ↓

Cash and shareholders

4 of 4
  • ✓
    Free cash flow positive in every one of 10 years$1.1B last year
  • ✓
    Share count down over 5 years−11.8%
  • ✓
    Dividend per share up over 5 years$1.55 → $6.00
  • ✓
    Cash from operations above net income$1.9B vs $1.2B
Free cash flow, FY2017 to FY2026: 623.3M → 1.1B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Aug 30, 2026 · schedule of May 31, 2026
Debt: $2.6B Debt$2.6B Long-term debt: $942.5M · 36% Long-term debt$942.5M · 36% Due within a year: $693.6M · 27% Due within a year$693.6M · 27% Short-term borrowings: $979.7M · 37% Short-term borrowings$979.7M · 37% Next 12 months: $500.0M · 19% Next 12 months$500.0M · 19% Year 2: $400.0M · 15% Year 2$400.0M · 15% Year 4: $350.0M · 13% Year 4$350.0M · 13% After year 5: $939.1M · 36% After year 5$939.1M · 36%

The debt note's own lines, 2026-05-31

Line, as the company names itKindRateFixed or floatingAmount
3.850% senior notes due May 2027Notes and bonds3.85%not stated$500.0M
6.300% senior notes due October 2033Notes and bonds6.30%not stated$500.0M
4.350% senior notes due October 2027Notes and bonds4.35%not stated$400.0M
4.550% senior notes due October 2029Notes and bonds4.55%not stated$350.0M
4.550% senior notes due February 2048Notes and bonds4.55%not stated$300.0M
6.000% senior notes due August 2035Notes and bonds6.00%not stated$96.3M
6.800% senior notes due October 2037 (Senior Notes)Notes and bonds6.80%not stated$42.8M
6.800% senior notes due October 2037Notes and bonds6.80%not stated$42.8M

From the debt note in the 10-K's XBRL (0000940944-26-000025), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →

Revenue and net income, FY2017 to FY2026

Revenue 13.2B Net income 1.2B
FY2017 revenue 7.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-19-000025 FY2017 net income 479.1M · NetIncomeLoss, 0000940944-19-000025 7.2B FY2017 FY2018 revenue 8.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-20-000046 FY2018 net income 596.0M · NetIncomeLoss, 0000940944-20-000046 8.1B FY2018 FY2019 revenue 8.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-21-000041 FY2019 net income 713.4M · NetIncomeLoss, 0000940944-21-000041 8.5B FY2019 FY2020 revenue 7.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-22-000042 FY2020 net income -52.4M · NetIncomeLoss, 0000940944-22-000042 7.8B FY2020 FY2021 revenue 7.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-23-000037 FY2021 net income 629.3M · NetIncomeLoss, 0000940944-23-000037 7.2B FY2021 FY2022 revenue 9.6B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-24-000035 FY2022 net income 952.8M · NetIncomeLoss, 0000940944-24-000035 9.6B FY2022 FY2023 revenue 10.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-25-000038 FY2023 net income 981.9M · NetIncomeLoss, 0000940944-25-000038 10.5B FY2023 FY2024 revenue 11.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-26-000025 FY2024 net income 1.0B · NetIncomeLoss, 0000940944-26-000025 11.4B FY2024 FY2025 revenue 12.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-26-000025 FY2025 net income 1.0B · NetIncomeLoss, 0000940944-26-000025 12.1B FY2025 FY2026 revenue 13.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000940944-26-000025 FY2026 net income 1.2B · NetIncomeLoss, 0000940944-26-000025 13.2B FY2026

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

DRI's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Revenue13.2B
FY2017: 7.2BFY2018: 8.1BFY2019: 8.5BFY2020: 7.8BFY2021: 7.2BFY2022: 9.6BFY2023: 10.5BFY2024: 11.4BFY2025: 12.1BFY2026: 13.2B FY2018FY2020FY2022FY2024FY2026
Net income1.2B
FY2017: 479.1MFY2018: 596.0MFY2019: 713.4MFY2020: -52.4MFY2021: 629.3MFY2022: 952.8MFY2023: 981.9MFY2024: 1.0BFY2025: 1.0BFY2026: 1.2B FY2018FY2020FY2022FY2024FY2026
Free cash flow1.1B
FY2017: 623.3MFY2018: 623.8MFY2019: 815.6MFY2020: 257.5MFY2021: 938.6MFY2022: 887.7MFY2023: 987.9MFY2024: 1.0BFY2025: 1.1BFY2026: 1.1B FY2018FY2020FY2022FY2024FY2026
EPS (diluted)10.38
FY2017: 3.80FY2018: 4.73FY2019: 5.69FY2020: -0.43FY2021: 4.77FY2022: 7.39FY2023: 7.99FY2024: 8.51FY2025: 8.86FY2026: 10.38 FY2018FY2020FY2022FY2024FY2026
Dividend per share6.00
FY2017: 2.24FY2018: 2.52FY2019: 3.00FY2020: 2.64FY2021: 1.55FY2022: 4.40FY2023: 4.84FY2024: 5.24FY2025: 5.60FY2026: 6.00 FY2018FY2020FY2022FY2024FY2026
Diluted shares116.3M
FY2017: 126.0MFY2018: 126.0MFY2019: 125.4MFY2020: 122.7MFY2021: 131.8MFY2022: 129.0MFY2023: 122.9MFY2024: 120.8MFY2025: 118.4MFY2026: 116.3M FY2018FY2020FY2022FY2024FY2026

Revenue by business segment

year to May 31, 2026
RevenueSharevs year before
Olive Garden 5.6B42.3% +7.3%
Long Horn Steakhouse 3.4B25.9% +13.1%
All Other Segments 2.8B21.3% +11.2%
Fine Dining 1.4B10.4% +5.4%

10-K 0000940944-26-000025, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue7.2B8.1B8.5B7.8B7.2B9.6B10.5B11.4B12.1B13.2B
Gross profit1.3B1.5B1.6B1.2B1.4B1.9B2.0B2.3B2.5B2.7B
SG&A387.7M409.8M405.5M376.4M396.2M373.2M386.1M479.2M520.3M514.4M
Operating income677.5M766.8M832.5M47.9M648.7M1.2B1.2B1.3B1.4B1.6B
Interest expense34.4M152.4M44.3M49.3M47.5M40.9M50.2M93.5M115.9M126.5M
Pretax income637.3M605.7M782.3M-161.0M576.5M1.1B1.1B1.2B1.2B1.4B
Income tax154.8M1.9M63.7M-111.8M-55.9M138.8M137.0M145.0M136.2M174.9M
Net income479.1M596.0M713.4M-52.4M629.3M952.8M981.9M1.0B1.0B1.2B
EPS (diluted)3.804.735.69-0.434.777.397.998.518.8610.38
Diluted shares126.0M126.0M125.4M122.7M131.8M129.0M122.9M120.8M118.4M116.3M
Depreciation & amortization272.9M313.1M336.7M355.9M350.9M368.4M387.8M459.9M516.1M561.1M
EBITDA950.4M1.1B1.2B403.8M999.6M1.5B1.6B1.8B1.9B2.1B
Gross margin18.5%18.5%18.7%15.0%19.5%19.7%19.0%20.1%20.5%20.3%
Operating margin9.4%9.5%9.8%0.6%9.0%12.1%11.5%11.5%11.3%12.0%
Net margin6.7%7.4%8.4%-0.7%8.7%9.9%9.4%9.0%8.7%9.1%
Revenue growth-+12.7%+5.3%-8.3%-7.8%+33.8%+8.9%+8.6%+6.0%+9.4%
EPS growth-+24.5%+20.3%-108%-+54.9%+8.1%+6.5%+4.1%+17.2%

Stock-based pay and leases

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Stock-based pay (expense)40.7M42.8M59.8M53.0M72.4M60.5M67.5M68.5M79.1M79.1M
Stock-based pay / revenue0.6%0.5%0.7%0.7%1.0%0.6%0.6%0.6%0.7%0.6%
Operating lease cost---403.2M384.6M372.0M377.9M404.6M413.7M445.8M
Operating lease cash paid---371.7M369.2M374.6M367.6M397.2M410.4M434.4M
Finance lease principal paid---5.2M7.1M12.9M19.8M19.9M21.0M18.1M
Right-of-use assets--04.0B3.8B3.5B3.4B3.4B3.6B3.4B
Operating lease liabilities---4.4B4.3B3.9B3.9B3.9B4.0B3.9B
Finance lease liabilities---374.1M562.6M1.0B1.2B1.4B1.6B1.7B

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Work on DRI in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/DRI/export.csv") into a cell.