Darden Restaurants (DRI) financial statements
Darden Restaurants reported revenue of $13.2B in fiscal 2026, up 7.0% a year over 9 years.
Net income was $1.2B and the operating margin 12.0%, against 9.4% in 2017.
Free cash flow was $1.1B, and the company returned $693M in dividends and $672M in net buybacks.
The diluted share count fell 8% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Darden Restaurants's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.2B | $8.1B | $8.5B | $7.8B | $7.2B | $9.6B | $10.5B | $11.4B | $12.1B | $13.2B |
| Gross profit | $1.3B | $1.5B | $1.6B | $1.2B | $1.4B | $1.9B | $2.0B | $2.3B | $2.5B | $2.7B |
| Selling, general and admin | $627M | $662M | $661M | $614M | $487M | $466M | $504M | $624M | $690M | $695M |
| Operating income | $678M | $767M | $832M | $48M | $649M | $1.2B | $1.2B | $1.3B | $1.4B | $1.6B |
| Interest expense | $34M | $152M | $44M | $49M | $48M | $41M | $50M | $94M | $116M | $126M |
| Pre-tax income | $637M | $606M | $782M | -$161M | $576M | $1.1B | $1.1B | $1.2B | $1.2B | $1.4B |
| Income tax | $155M | $2M | $64M | -$112M | -$56M | $139M | $137M | $145M | $136M | $175M |
| Net income | $479M | $596M | $713M | -$52M | $629M | $953M | $982M | $1.0B | $1.0B | $1.2B |
| EPS (diluted) | $3.80 | $4.73 | $5.69 | -$0.43 | $4.77 | $7.39 | $7.99 | $8.51 | $8.86 | $10.38 |
| Diluted shares | 126M | 126M | 125M | 123M | 132M | 129M | 123M | 121M | 118M | 116M |
| Gross margin | 18.5% | 18.5% | 18.7% | 15.0% | 19.5% | 19.7% | 19.0% | 20.1% | 20.5% | 20.3% |
| Operating margin | 9.4% | 9.5% | 9.8% | 0.6% | 9.0% | 12.1% | 11.5% | 11.5% | 11.3% | 12.0% |
| Net margin | 6.7% | 7.4% | 8.4% | -0.7% | 8.7% | 9.9% | 9.4% | 9.0% | 8.7% | 9.1% |
Balance sheet
Fiscal years, from Darden Restaurants's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $233M | $147M | $457M | $763M | $1.2B | $421M | $368M | $195M | $240M | $220M |
| Receivables | $76M | $84M | $88M | $50M | $68M | $72M | $80M | $79M | $94M | $130M |
| Inventory | $179M | $205M | $207M | $207M | $191M | $271M | $288M | $290M | $312M | $326M |
| Total current assets | $588M | $554M | $893M | $1.1B | $1.9B | $1.2B | $998M | $823M | $938M | $943M |
| Property, plant and equipment | $2.3B | $2.4B | $2.6B | $2.8B | $2.9B | $3.4B | $3.7B | $4.2B | $4.7B | $5.0B |
| Goodwill | $1.2B | $1.2B | $1.2B | $1.0B | $1.0B | $1.0B | $1.0B | $1.4B | $1.7B | $1.7B |
| Total assets | $5.3B | $5.5B | $5.9B | $9.9B | $10.7B | $10.1B | $10.2B | $11.3B | $12.6B | $12.9B |
| Total current liabilities | $1.3B | $1.4B | $1.5B | $1.8B | $1.8B | $1.8B | $1.9B | $2.2B | $2.2B | $3.0B |
| Long-term debt | $937M | $926M | $928M | $929M | $930M | $901M | — | — | — | — |
| Total liabilities | $3.2B | $3.3B | $3.5B | $7.6B | $7.8B | $7.9B | $8.0B | $9.1B | $10.3B | $10.7B |
| Shareholders' equity | $2.1B | $2.2B | $2.4B | $2.3B | $2.8B | $2.2B | $2.2B | $2.2B | $2.3B | $2.2B |
| Net debt | $704M | $780M | $470M | $166M | -$285M | $480M | -$368M | -$195M | -$240M | $474M |
Cash flow
Fiscal years, from Darden Restaurants's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $916M | $1.0B | $1.3B | $717M | $1.2B | $1.3B | $1.6B | $1.6B | $1.7B | $1.9B |
| Capital spending | $293M | $396M | $452M | $460M | $255M | $377M | $565M | $601M | $645M | $734M |
| Free cash flow | $623M | $624M | $816M | $258M | $939M | $888M | $988M | $1.0B | $1.1B | $1.1B |
| Stock-based compensation | $41M | $43M | $60M | $53M | $72M | $60M | $68M | $68M | $79M | $79M |
| Dividends paid | $279M | $314M | $371M | $322M | $203M | $563M | $590M | $628M | $658M | $693M |
| Share buybacks (net) | -$230M | -$235M | -$208M | -$330M | -$45M | -$1.1B | -$459M | -$454M | -$418M | -$672M |
| Net borrowing | $500M | $852M | $0 | $0 | — | $0 | $0 | $587M | $663M | $194M |
| Free cash flow margin | 8.7% | 7.7% | 9.6% | 3.3% | 13.0% | 9.2% | 9.4% | 9.0% | 8.8% | 8.5% |
| Dividends per share | $2.22 | $2.49 | $2.96 | $2.63 | $1.54 | $4.36 | $4.80 | $5.20 | $5.56 | $5.96 |
Questions
What was Darden Restaurants's revenue in 2026?
$13.2B in fiscal 2026, from its 10-K filing.
How much free cash flow does Darden Restaurants generate?
$1.1B in fiscal 2026 (operating cash flow minus capital spending).
From Darden Restaurants's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.