ValueScreener

ValueScreener company report

Darden Restaurants, Inc. (DRI)

NYSE / Consumer Cyclical / Restaurants

Share price

214.31 USD Market dataClose of Oct 15, 2026

Market capitalisation

24.25B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2026, filed Jul 24, 2026
Ratios computed
Oct 15, 2026
Filed years
10, FY2017 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

12.9% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

20.51x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

4.5% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2017 Revenue: 7.17B USDFY2017 Net income: 479.1M USDFY2018 Revenue: 8.08B USDFY2018 Net income: 596.0M USDFY2019 Revenue: 8.51B USDFY2019 Net income: 713.4M USDFY2020 Revenue: 7.81B USDFY2020 Net income: -52.4M USDFY2021 Revenue: 7.20B USDFY2021 Net income: 629.3M USDFY2022 Revenue: 9.63B USDFY2022 Net income: 952.8M USDFY2023 Revenue: 10.49B USDFY2023 Net income: 981.9M USDFY2024 Revenue: 11.39B USDFY2024 Net income: 1.03B USDFY2025 Revenue: 12.08B USDFY2025 Net income: 1.05B USDFY2026 Revenue: 13.21B USDFY2026 Net income: 1.21B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
3 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 20.51x at the close of 2026-10-15 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Restaurants industry (31 companies), 20.51x sits at the 40th percentile; the middle half of that group runs from 17.83x to 34.09x.

Is it good

Return on invested capital was 12.9% in FY2026, in the band labelled "Above the cost of capital" (12.0% to 20.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Consumer Cyclical sector (222 companies), 12.9% sits at the 68th percentile; the middle half of that group runs from 3.6% to 14.8%.

Is it safe

Interest coverage was 12.51x in FY2026, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether Darden Restaurants, Inc.'s return on invested capital stayed above the median of the Consumer Cyclical sector, year by year. (FY2022 to FY2026, 5 fiscal years of Darden Restaurants, Inc. with a comparable figure)
The direction
Which way Darden Restaurants, Inc.'s return on equity has moved, and how steadily. (FY2017 to FY2026, 10 filed years of Darden Restaurants, Inc.)
What could explain it
What in Darden Restaurants, Inc.'s filed statements could explain the movements. (10 readings drawn from the statement lines Darden Restaurants, Inc. filed)
What to check next
What to check next on Darden Restaurants, Inc., and where in its filings. (7 questions for Darden Restaurants, Inc.)
In one paragraph
One paragraph on Darden Restaurants, Inc.'s returns, cash, balance sheet and price. (16 of sixteen figures read for Darden Restaurants, Inc.)

These are DRI’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research DRIPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Jul 24, 2026, accession 0000940944-26-000025.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Darden Restaurants, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax12.9% ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Return on equity54.7% ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Return on capital employed, pre-tax16.1% ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Return on assets9.4% ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Gross margin20.3% ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Operating margin12.0% ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Net margin9.1% ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
DRI 9.1%
TXRH 7.0%QSR 11.4%YUMC 7.9%SBUX 5.0%CMG 12.9%
5.0%12.9%
Net margin: DRI against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Darden Restaurants, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity3.94 ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Current ratio0.31 ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Quick ratio0.21 ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Interest coverage12.51x ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Altman Z-score2.63 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Net debt8.48B ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Total assets 12.86BTotal liabilities 10.65BShareholders' equity 2.21BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Darden Restaurants, Inc owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Jul 24, 2026, 0000940944-26-000025).

Darden Restaurants, Inc: balance sheet position
Total assets12.86B FiledFY2026 10-K, filed Jul 24, 2026
Total liabilities10.65B FiledFY2026 10-K, filed Jul 24, 2026
Shareholders' equity2.21B FiledFY2026 10-K, filed Jul 24, 2026
Cash219.5M FiledFY2026 10-K, filed Jul 24, 2026
Total debt8.70B FiledFY2026 10-K, filed Jul 24, 2026
Net debt8.48B
Current ratio0.31
Debt to equity3.94

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Darden Restaurants, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings20.51x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
P/E on trailing twelve months20.10x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book11.29x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Price to sales1.89x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Enterprise value to EBIT21.11x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Enterprise value to EBITDA15.58x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Price to earnings over growth1.23 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Diluted earnings per share10.38 USD FiledFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Graham number66.81 USD ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025

We publish no fair value or price target of our own. Value DRI on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Darden Restaurants, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Darden Restaurants, Inc: valuation
Share price214.31 USD
Market capitalisation24.25B USD
Enterprise value to EBITDA15.58x
Graham number66.81 USD
Diluted earnings per share, FY202610.38 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Jul 21, 2017: low 6.80x, median 20.67x, high 33.50x, latest 20.10x. 2,069 trading days with a meaningful ratio, 251 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Darden Restaurants, Inc

  1. Texas Roadhouse, Inc. (TXRH)Market cap 11.22B USD
  2. Restaurant Brands International Inc. (QSR)Market cap 25.85B USD
  3. Yum China Holdings, Inc. (YUMC)Market cap 15.30B USD
  4. Starbucks Corporation (SBUX)Market cap 110.50B USD
  5. Chipotle Mexican Grill, Inc. (CMG)Market cap 38.68B USD

Same industry (Restaurants) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Darden Restaurants, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield4.5% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Free cash flow1.12B USD ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Free cash flow margin8.5% ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Dividend yield2.9% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Payout ratio57.4% ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
FY2017 Free cash flow: 623.3M USDFY2017 Net income: 479.1M USDFY2018 Free cash flow: 623.8M USDFY2018 Net income: 596.0M USDFY2019 Free cash flow: 815.6M USDFY2019 Net income: 713.4M USDFY2020 Free cash flow: 257.5M USDFY2020 Net income: -52.4M USDFY2021 Free cash flow: 938.6M USDFY2021 Net income: 629.3M USDFY2022 Free cash flow: 887.7M USDFY2022 Net income: 952.8M USDFY2023 Free cash flow: 987.9M USDFY2023 Net income: 981.9M USDFY2024 Free cash flow: 1.02B USDFY2024 Net income: 1.03B USDFY2025 Free cash flow: 1.06B USDFY2025 Net income: 1.05B USDFY2026 Free cash flow: 1.12B USDFY2026 Net income: 1.21B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Darden Restaurants, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
20.51xFY2026Oct 15, 2026
11.29xFY2026Oct 15, 2026
21.11xFY2026Oct 15, 2026
4.5%FY2026Oct 15, 2026
12.9%FY2026Jul 24, 2026
2.9%FY2026Oct 15, 2026
3.94FY2026Jul 24, 2026
0.31FY2026Jul 24, 2026
1.89xFY2026Oct 15, 2026
1.23FY2026Oct 15, 2026
2.63FY2026Oct 15, 2026
-2.63FY2026Jul 24, 2026
7/9FY2026Jul 24, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 10 filed fiscal years on record, FY2017 to FY2026, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2017 to FY2026, read from the annual reports Darden Restaurants, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Darden Restaurants, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202613.21B1.58B1.21B10.381.12B12.0%54.7%10-K, Jul 24, 20260000940944-26-000025
FY202512.08B1.36B1.05B8.861.06B11.3%45.4%10-K, Jul 18, 20250000940944-25-000038
FY202411.39B1.31B1.03B8.511.02B11.5%45.8%10-K, Jul 19, 20240000940944-24-000035
FY202310.49B1.20B981.9M7.99987.9M11.5%44.6%10-K, Jul 21, 20230000940944-23-000037
FY20229.63B1.16B952.8M7.39887.7M12.1%43.3%10-K, Jul 22, 20220000940944-22-000042
FY20217.20B648.7M629.3M4.77938.6M9.0%22.4%10-K, Jul 23, 20210000940944-21-000041
FY20207.81B47.9M-52.4M-0.43257.5M0.6%-2.3%10-K, Jul 24, 20200000940944-20-000046
FY20198.51B832.5M713.4M5.69815.6M9.8%29.8%10-K, Jul 19, 20190000940944-19-000025
FY20188.08B766.8M596.0M4.73623.8M9.5%27.2%10-K, Jul 20, 20180000940944-18-000050
FY20177.17B677.5M479.1M3.80623.3M9.4%22.8%10-K, Jul 21, 20170000940944-17-000027
  • Revenue, compound annual growth FY2017 to FY2026: 7.0%
  • Earnings, compound annual growth FY2017 to FY2026: 10.8%
  • Earnings per share, compound annual growth FY2017 to FY2026: 11.8%
  • Free cash flow, compound annual growth FY2017 to FY2026: 6.7%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Darden Restaurants, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.63 ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Piotroski F-score7/9 ComputedFY2026 10-K, filed Jul 24, 2026, 0000940944-26-000025
Named tests met3 of 30 Computed
Beta0.50 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 3 met, 27 not met, 0 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Dividends and buybacks; ROIC at or above WACC; Cash-covered dividend
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

Monitor my portfolioHow this is computed

No card. 30 free days, and nothing is charged unless you choose a plan.

Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

Site map

Apps

  • Android app coming soon
  • iPhone app coming soon
ValueScreener

Discover companies, research each one to its filings, track what matters, and take your work into your own spreadsheet.

ValueScreener is a trading name of Oliva Real Estate Technologies LLC, a Delaware limited liability company. Legal notices: legal@valuescreener.ai. © 2026 Oliva Real Estate Technologies LLC. All rights reserved.

Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.

With your permission, Google Analytics, Microsoft Clarity and HubSpot set cookies to measure how this site and the product are used, including recordings of sessions. Nothing is set unless you allow it. Privacy policy