DRI vs MCD: Darden Restaurants and McDonald’s compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- McDonald’s is the larger company, worth $172.3B, about 7.5 times Darden Restaurants.
- Darden Restaurants grew revenue faster over the last year (+5.1% vs +3.7%).
- McDonald’s keeps more of each dollar of revenue as operating profit (46.2% vs 11.7%).
- On earnings, McDonald’s is the cheaper stock (19.7x vs 21.2x).
- McDonald’s's price assumes faster free cash flow growth: about 7% a year, against 5% for Darden Restaurants (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DRI | MCD |
|---|---|---|
| Market cap | $23.0B | $172.3B |
| Share price | $197.66 | $235.23 |
| Revenue (last fiscal year) | $13.2B | $26.9B |
| Free cash flow (last fiscal year) | $1.1B | $7.2B |
| Revenue growth, last year | +5.1% | +3.7% |
| Revenue growth per year, last 5 fiscal years | +8.2% | +3.7% |
| Operating margin | 11.7% | 46.2% |
| Net margin | 8.8% | 31.7% |
| Return on equity | 57.2% | — |
| P/E (trailing) | 21.2x | 19.7x |
| Price / free cash flow | 22.2x | 24.0x |
| EV / EBITDA | 15.0x | 16.9x |
| FCF growth the price implies | 5.4% | 7.4% |
| Dividend yield | 3.0% | 3.0% |
| Debt / equity | 5.39x | — |
| Fundamental grade | D | C |
| Superinvestors holding it | 3 | 11 |
| Insider purchases, last 12 months | 8 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Darden Restaurants
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $9.6B | $888M | 12.1% |
| 2023 | $10.5B | $988M | 11.5% |
| 2024 | $11.4B | $1.0B | 11.5% |
| 2025 | $12.1B | $1.1B | 11.3% |
| 2026 | $13.2B | $1.1B | 12.0% |
McDonald’s
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $23.2B | $7.1B | 44.6% |
| 2022 | $23.2B | $5.5B | 40.4% |
| 2023 | $25.5B | $7.3B | 45.7% |
| 2024 | $25.9B | $6.7B | 45.2% |
| 2025 | $26.9B | $7.2B | 46.1% |
Where the revenue comes from
Darden Restaurants · by segments, 2026
Olive Garden$5.6B42%
LongHorn Steakhouse$3.4B26%
Other Business$2.8B21%
Fine Dining$1.4B10%
McDonald’s · by segments, 2025
International Operated Markets$13.6B51%
U.S.$10.8B40%
International Developmental Licensed Markets & Corporate$2.4B9%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open DRI in InvestinglyQuestions
Which is bigger, Darden Restaurants or McDonald’s?
McDonald’s (MCD), at $172.3B against $23.0B.
Is DRI or MCD cheaper?
By trailing P/E, McDonald’s (19.7x) is cheaper than Darden Restaurants (21.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, DRI or MCD?
Darden Restaurants: revenue grew +5.1% over the last year, against +3.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.