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Darden Restaurants (DRI) Financials

Darden Restaurants logo
$199.24 +4.77 (+2.45%)
As of 03:58 PM Eastern
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Annual Income Statements for Darden Restaurants

Annual Income Statements for Darden Restaurants

This table shows Darden Restaurants' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 710 375 479 596 713 -52 629 953 982 1,028
Consolidated Net Income / (Loss)		 710 375 479 596 713 -52 629 953 982 1,028
Net Income / (Loss) Continuing Operations		 196 360 483 604 719 -49 632 955 984 1,031
Total Pre-Tax Income 		175 450 637 606 782 -161 577 1,094 1,121 1,176
Total Operating Income		 368 622 678 767 833 48 649 1,162 1,202 1,314
Total Gross Profit		 1,423 4,744 4,905 1,745 8,510 1,408 1,494 1,995 2,083 2,410
Total Revenue		 6,764 6,934 7,170 8,080 8,510 7,807 7,196 9,630 10,488 11,390
Operating Revenue		 6,764 6,934 7,170 8,080 8,510 7,807 7,196 9,630 10,488 11,390
Total Cost of Revenue		 5,342 2,189 2,265 6,335 0.00 6,399 5,703 7,635 8,404 8,980
Operating Cost of Revenue		 4,221 2,189 2,265 6,335 - 6,399 5,703 7,635 8,404 8,980
Total Operating Expenses		 1,055 4,122 4,227 979 7,678 1,361 845 833 882 1,096
Selling, General & Admin Expense		 430 385 388 410 406 376 396 373 386 479
Marketing Expense		 243 238 240 252 255 238 91 93 118 145
Depreciation Expense		 319 290 273 313 337 356 351 368 388 460
Impairment Charge		 62 5.80 -8.40 3.40 19 390 6.60 -2.00 -11 12
Total Other Income / (Expense), net		 -192 -173 -40 -161 -50 -209 -72 -69 -81 -139
Interest & Investment Income		 -192 -173 -40 -161 -50 -57 -64 -69 -81 -139
Income Tax Expense		 -21 90 155 1.90 64 -112 -56 139 137 145
Net Income / (Loss) Discontinued Operations		 513 15 -3.40 -7.80 -5.20 -3.20 -3.10 -1.90 -1.60 -2.90
Basic Earnings per Share		 $5.56 $2.94 $3.85 $4.81 $5.78 ($0.43) $4.83 $7.46 $8.06 $8.57
Weighted Average Basic Shares Outstanding		 127.70M 127.40M 124.30M 124M 123.50M 122.70M 130.40M 127.80M 121.90M 119.90M
Diluted Earnings per Share		 $5.47 $2.90 $3.80 $4.73 $5.69 ($0.43) $4.77 $7.39 $7.99 $8.51
Weighted Average Diluted Shares Outstanding		 129.70M 129.30M 126M 126M 125.40M 122.70M 131.80M 129M 122.90M 120.80M
Weighted Average Basic & Diluted Shares Outstanding		 127.60M 127.60M 124.40M 123.90M 123.40M 129.89M 130.76M 123.95M 121.07M 118.86M
Cash Dividends to Common per Share		 $2.20 $2.10 $2.24 $2.52 $3.00 $2.64 $1.55 $4.40 $4.84 $5.24

Quarterly Income Statements for Darden Restaurants

This table shows Darden Restaurants' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Net Income / (Loss) Attributable to Common Shareholders		 193 187 287 315 195 212 313 308 207 215 323
Consolidated Net Income / (Loss)		 193 187 287 315 195 212 313 308 207 215 323
Net Income / (Loss) Continuing Operations		 194 188 287 316 195 212 313 310 208 216 324
Total Pre-Tax Income 		224 213 330 352 223 241 351 360 232 246 373
Total Operating Income		 244 233 350 375 253 279 387 395 269 292 418
Total Gross Profit		 454 443 585 603 558 550 646 657 563 613 702
Total Revenue		 2,446 2,487 2,786 2,769 2,731 2,727 2,975 2,957 2,757 2,890 3,158
Operating Revenue		 2,446 2,487 2,786 2,769 2,731 2,727 2,975 2,957 2,757 2,890 3,158
Total Cost of Revenue		 1,993 2,044 2,202 2,167 2,173 2,177 2,329 2,301 2,194 2,277 2,456
Operating Cost of Revenue		 1,993 2,044 2,202 2,167 2,173 2,177 2,329 2,301 2,194 2,277 2,456
Total Operating Expenses		 209 210 235 228 305 272 258 261 294 321 284
Selling, General & Admin Expense		 88 90 107 100 153 115 108 103 126 144 117
Marketing Expense		 30 31 28 29 39 37 32 37 45 49 35
Depreciation Expense		 96 97 98 97 110 113 118 120 122 128 132
Impairment Charge		 -4.90 -8.80 1.30 1.80 3.10 7.50 0.40 1.40 1.00 0.00 0.10
Total Other Income / (Expense), net		 -20 -20 -20 -22 -30 -37 -37 -35 -37 -46 -46
Interest & Investment Income		 -20 -20 -20 -22 -30 -37 -37 -35 -37 -46 -46
Income Tax Expense		 31 26 44 37 28 29 38 50 25 30 49
Net Income / (Loss) Discontinued Operations		 -0.60 -0.30 -0.20 -0.50 -0.30 -0.20 -0.50 -1.90 -0.40 -0.60 -0.30
Basic Earnings per Share		 $1.57 $1.53 $2.36 $2.60 $1.61 $1.77 $2.62 $2.57 $1.75 $1.83 $2.76
Weighted Average Basic Shares Outstanding		 122.90M 122.10M 121.40M 121.90M 120.90M 119.90M 119.40M 119.90M 118.50M 117.50M 117.20M
Diluted Earnings per Share		 $1.56 $1.52 $2.34 $2.57 $1.59 $1.76 $2.60 $2.56 $1.74 $1.82 $2.74
Weighted Average Diluted Shares Outstanding		 123.90M 123.10M 122.50M 122.90M 122M 120.80M 120.40M 120.80M 119.20M 118.30M 118M
Weighted Average Basic & Diluted Shares Outstanding		 122.39M 121.71M 120.93M 121.07M 120.31M 119.41M 119.36M 118.86M 117.50M 117.15M 117.03M
Cash Dividends to Common per Share		 $1.21 $1.21 $1.21 $1.21 $1.31 $1.31 $1.31 $1.31 $1.40 $1.40 $1.40

Annual Cash Flow Statements for Darden Restaurants

This table details how cash moves in and out of Darden Restaurants' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents		 -57 -612 -42 -104 310 306 451 -743 -56 -196
Net Cash From Operating Activities		 806 802 916 1,002 1,268 717 1,194 1,265 1,553 1,622
Net Cash From Continuing Operating Activities		 874 820 916 1,020 1,268 717 1,194 1,265 1,553 1,622
Net Income / (Loss) Continuing Operations		 196 360 483 604 719 -49 632 955 984 1,031
Consolidated Net Income / (Loss)		 710 375 479 596 713 -52 629 953 982 1,028
Net Income / (Loss) Discontinued Operations		 513 15 -3.40 -7.80 -5.20 -3.20 -3.10 -1.90 -1.60 -2.90
Depreciation Expense		 319 290 273 313 337 356 351 368 388 460
Non-Cash Adjustments To Reconcile Net Income		 150 126 43 77 85 579 44 69 56 63
Changes in Operating Assets and Liabilities, net		 140 27 118 24 128 -169 166 -128 125 69
Net Cash From Investing Activities		 -245 75 -1,070 -451 -463 -544 -264 -389 -568 -1,325
Net Cash From Continuing Investing Activities		 -235 75 -1,070 -451 -463 -544 -264 -389 -568 -1,325
Purchase of Property, Plant & Equipment		 -313 -252 -318 -419 -478 -485 -270 -403 -594 -628
Acquisitions		 0.00 0.00 -764 -40 0.00 -56 - 0.00 0.00 -701
Sale of Property, Plant & Equipment		 68 325 8.30 3.30 13 5.80 5.40 10 25 3.30
Other Investing Activities, net		 - 1.80 4.70 4.80 2.10 -9.50 1.20 3.40 0.50 1.50
Net Cash From Financing Activities		 -2,202 -1,453 129 -637 -484 139 -479 -1,610 -1,033 -483
Net Cash From Continuing Financing Activities		 -1,785 -1,121 129 -637 -484 139 -479 -1,597 -1,033 -483
Repayment of Debt		 -1,673 -1,100 -7.50 -1,386 -144 -750 -270 -2.70 -20 -632
Repurchase of Common Equity		 -502 -185 -230 -235 -208 -330 -45 -1,071 -459 -454
Payment of Dividends		 -279 -268 -279 -314 371 -322 -203 -563 -590 -628
Issuance of Debt		 0.00 0.60 500 1,260 138 1,021 0.00 0.00 0.00 1,187
Issuance of Common Equity		 160 99 113 38 59 526 46 40 35 44
Other Net Changes in Cash		 1,583 -36 -18 -18 -10 -6.10 0.50 -8.50 -7.20 -9.80

Quarterly Cash Flow Statements for Darden Restaurants

This table details how cash moves in and out of Darden Restaurants' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Net Change in Cash & Equivalents		 -36 -136 35 81 -176 -21 48 -48 -3.20 25 -2.80
Net Cash From Operating Activities		 428 208 505 412 269 341 586 426 273 389 588
Net Cash From Continuing Operating Activities		 428 208 505 412 269 341 586 426 273 389 588
Net Income / (Loss) Continuing Operations		 194 188 287 316 195 212 313 310 208 216 324
Consolidated Net Income / (Loss)		 193 187 287 315 195 212 313 308 207 215 324
Net Income / (Loss) Discontinued Operations		 -0.60 -0.30 -0.20 -0.50 -0.30 -0.20 -0.50 -1.90 -0.40 -0.60 -0.20
Depreciation Expense		 96 97 98 97 110 113 118 120 122 128 132
Non-Cash Adjustments To Reconcile Net Income		 19 8.90 14 14 30 18 3.60 10 28 12 17
Changes in Operating Assets and Liabilities, net		 120 -85 106 -15 -66 -2.40 151 -14 -84 33 116
Net Cash From Investing Activities		 -118 -155 -136 -159 -854 -169 -153 -149 -150 -790 -160
Net Cash From Continuing Investing Activities		 -118 -155 -136 -159 -854 -169 -153 -149 -150 -790 -160
Purchase of Property, Plant & Equipment		 -129 -166 -137 -163 -156 -169 -154 -149 -152 -176 -163
Other Investing Activities, net		 0.10 0.10 0.30 - 0.20 0.10 1.30 -0.10 1.80 -0.10 2.90
Net Cash From Financing Activities		 -345 -190 -328 -170 409 -193 -375 -325 -127 426 -423
Net Cash From Continuing Financing Activities		 -345 -190 -328 -170 409 -193 -375 -325 -127 426 -423
Repurchase of Common Equity		 -199 -100 -124 -35 -143 -181 -33 -97 -172 -142 -53
Payment of Dividends		 -149 -148 -147 -147 -159 -157 -156 -156 -166 -165 -164
Issuance of Debt		 0.00 58 -58 - 695 755 -191 -72 207 731 -217
Issuance of Common Equity		 6.40 5.30 6.60 17 22 3.60 11 6.60 9.70 12 17
Other Financing Activities, net		 -4.30 -4.50 -5.40 - -5.50 -3.00 -5.50 - -5.10 -4.60 -5.80
Other Net Changes in Cash		 -0.50 1.40 -6.40 -1.70 0.00 - -9.30 -0.50 0.00 - -7.90

Annual Balance Sheets for Darden Restaurants

This table presents Darden Restaurants' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets		 5,995 4,583 5,292 5,470 5,893 9,946 10,656 10,136 10,242 11,323
Total Current Assets		 1,056 820 588 554 893 1,101 1,871 1,179 998 823
Cash & Equivalents		 536 275 233 147 457 763 1,215 421 368 195
Accounts Receivable		 78 64 76 84 88 50 68 72 80 79
Inventories, net		 164 175 179 205 207 207 191 271 288 291
Prepaid Expenses		 69 76 81 90 98 63 60 141 155 137
Current Deferred & Refundable Income Taxes		 176 209 6.20 16 42 18 337 275 107 122
Plant, Property, & Equipment, net		 3,216 2,042 2,272 2,430 2,553 0.00 0.00 0.00 3,725 0.00
Total Noncurrent Assets		 1,723 1,721 2,432 2,486 2,448 8,845 8,785 8,956 5,519 10,500
Goodwill		 872 872 1,202 1,184 1,184 1,037 1,037 1,037 1,037 1,391
Intangible Assets		 575 575 950 951 951 806 806 806 806 1,148
Other Noncurrent Operating Assets		 276 274 280 352 313 7,001 6,941 7,113 3,675 7,961
Total Liabilities & Shareholders' Equity		 5,995 4,583 5,292 5,470 5,893 9,946 10,656 10,136 10,242 11,323
Total Liabilities		 3,661 2,631 3,191 3,275 3,500 7,615 7,843 7,938 8,040 9,081
Total Current Liabilities		 1,197 1,187 1,289 1,385 1,474 1,793 1,848 1,848 1,937 2,193
Short-Term Debt		 15 - - - 0.00 270 - - 0.00 87
Accounts Payable		 199 242 250 277 333 249 305 367 426 400
Current Deferred Revenue		 329 360 389 416 429 468 474 498 512 592
Current Deferred & Payable Income Tax Liabilities		 13 0.00 1.90 0.00 12 6.20 36 32 7.80 6.10
Current Employee Benefit Liabilities		 141 135 149 178 175 150 177 182 173 190
Other Taxes Payable		 - 49 54 57 54 43 61 65 66 71
Other Current Liabilities		 449 401 446 458 472 606 796 705 753 847
Total Noncurrent Liabilities		 2,465 1,444 1,901 1,890 2,026 5,822 5,995 6,090 6,103 6,888
Long-Term Debt		 1,452 440 937 927 928 929 930 901 885 1,370
Noncurrent Deferred Revenue		 226 250 283 318 354 4,276 4,089 3,756 - 3,705
Noncurrent Deferred & Payable Income Tax Liabilities		 342 255 146 114 157 56 222 201 142 232
Other Noncurrent Operating Liabilities		 445 499 536 532 587 561 755 1,232 5,076 1,581
Total Equity & Noncontrolling Interests		 2,334 1,952 2,102 2,195 2,393 2,331 2,813 2,198 2,202 2,243
Total Preferred & Common Equity		 2,334 1,952 2,102 2,195 2,393 2,331 2,813 2,198 2,202 2,243
Total Common Equity		 2,334 1,952 2,102 2,195 2,393 2,331 2,813 2,198 2,202 2,243
Common Stock		 1,406 1,503 1,615 1,632 1,685 2,205 2,287 2,226 2,231 2,252
Retained Earnings		 1,026 548 560 658 807 144 522 -26 -33 -36
Accumulated Other Comprehensive Income / (Loss)		 -87 -87 -63 -85 -98 -18 4.20 -1.90 3.20 26

Quarterly Balance Sheets for Darden Restaurants

This table presents Darden Restaurants' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Total Assets		 10,015 10,025 10,075 10,242 11,269 11,322 11,358 11,323 11,356 12,519 12,561
Total Current Assets		 941 892 891 998 836 868 876 823 820 880 881
Cash & Equivalents		 378 241 275 368 192 196 244 195 193 217 224
Accounts Receivable		 51 72 58 80 59 80 72 79 64 78 66
Inventories, net		 273 296 306 288 287 311 298 291 298 318 325
Prepaid Expenses		 171 168 166 155 199 142 140 137 162 152 137
Current Deferred & Refundable Income Taxes		 69 116 86 107 99 139 123 122 104 115 129
Plant, Property, & Equipment, net		 0.00 0.00 0.00 3,725 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 9,074 9,133 9,185 5,519 10,434 10,454 10,482 10,500 10,536 11,640 11,680
Goodwill		 1,037 1,037 1,037 1,037 1,377 1,393 1,398 1,391 1,391 1,654 1,653
Intangible Assets		 806 806 806 806 1,148 1,148 1,148 1,148 1,148 1,346 1,346
Other Noncurrent Operating Assets		 7,230 7,290 7,341 3,675 7,909 7,914 7,936 7,961 7,997 8,639 8,681
Total Liabilities & Shareholders' Equity		 10,015 10,025 10,075 10,242 11,269 11,322 11,358 11,323 11,356 12,519 12,561
Total Liabilities		 7,950 8,004 8,032 8,040 9,121 9,282 9,177 9,081 9,212 10,448 10,358
Total Current Liabilities		 1,825 1,906 1,950 1,937 2,094 2,382 2,272 2,193 2,325 2,401 2,283
Short-Term Debt		 - 58 - 0.00 95 350 159 87 294 275 58
Accounts Payable		 407 435 424 426 420 424 406 400 401 409 417
Current Deferred Revenue		 468 464 548 512 542 547 626 592 555 552 640
Current Deferred & Payable Income Tax Liabilities		 43 19 24 7.80 8.50 8.40 8.50 6.10 1.70 2.00 1.10
Current Employee Benefit Liabilities		 137 137 168 173 169 177 196 190 161 193 203
Other Taxes Payable		 71 68 65 66 74 70 69 71 82 81 75
Other Current Liabilities		 700 725 723 753 786 805 809 847 831 890 889
Total Noncurrent Liabilities		 6,125 6,098 6,081 6,103 7,027 6,901 6,905 6,888 6,887 8,047 8,075
Long-Term Debt		 895 886 881 885 1,477 1,368 1,373 1,370 1,386 2,122 2,123
Noncurrent Deferred Revenue		 3,746 3,731 3,739 - 3,878 3,815 3,774 3,705 3,637 3,939 3,898
Noncurrent Deferred & Payable Income Tax Liabilities		 192 178 146 142 231 242 241 232 236 292 301
Other Noncurrent Operating Liabilities		 1,292 1,304 1,316 5,076 1,441 1,475 1,517 1,581 1,628 1,695 1,753
Total Equity & Noncontrolling Interests		 2,064 2,021 2,044 2,202 2,148 2,040 2,181 2,243 2,144 2,071 2,203
Total Preferred & Common Equity		 2,064 2,021 2,044 2,202 2,148 2,040 2,181 2,243 2,144 2,071 2,203
Total Common Equity		 2,064 2,021 2,044 2,202 2,148 2,040 2,181 2,243 2,144 2,071 2,203
Common Stock		 2,215 2,215 2,213 2,231 2,257 2,241 2,253 2,252 2,262 2,261 2,278
Retained Earnings		 -152 -200 -169 -33 -125 -229 -102 -36 -145 -219 -108
Accumulated Other Comprehensive Income / (Loss)		 0.40 6.00 0.10 3.20 16 27 30 26 26 29 33

Annual Metrics and Ratios for Darden Restaurants

This table displays calculated financial ratios and metrics derived from Darden Restaurants' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 7.61% 2.51% 3.41% 12.69% 5.33% -8.27% -7.82% 33.82% 8.91% 8.60%
EBITDA Growth		 9.54% 32.83% 4.16% 13.63% 8.27% -78.43% 292.90% 54.47% 3.85% 11.61%
EBIT Growth		 19.00% 69.26% 8.89% 13.18% 8.57% -112.46% 717.16% 81.59% 3.41% 9.35%
NOPAT Growth		 27.07% 20.84% 3.07% 49.02% 0.04% -95.62% 2,022.28% 42.59% 3.96% 9.22%
Net Income Growth		 147.90% -47.15% 27.76% 24.40% 19.70% -107.35% 1,300.95% 51.41% 3.05% 4.65%
EPS Growth		 147.90% -46.98% 31.03% 24.47% 20.30% -107.56% 1,209.30% 54.93% 8.12% 6.51%
Operating Cash Flow Growth		 45.17% -0.48% 14.19% 9.33% 26.53% -43.40% 66.36% 5.96% 22.79% 4.44%
Free Cash Flow Firm Growth		 -47.90% 117.81% -111.16% 426.02% 45.52% -84.98% 631.80% -9.03% 17.42% -63.96%
Invested Capital Growth		 -9.46% -35.12% 33.15% 6.11% -3.36% -3.36% -8.62% 5.95% 1.49% 28.92%
Revenue Q/Q Growth		 3.49% -1.25% 2.06% 2.53% 1.13% -10.94% 16.31% 3.48% 1.61% 1.68%
EBITDA Q/Q Growth		 13.86% 2.30% -1.18% 6.76% 0.75% -79.31% 1,098.19% 1.24% 2.61% 2.51%
EBIT Q/Q Growth		 28.31% 5.89% -2.15% 8.46% -0.02% -111.92% 334.00% 1.29% 3.11% 1.62%
NOPAT Q/Q Growth		 -6.17% 0.61% -2.62% 6.91% 4.69% -95.98% 481.02% -8.33% 3.64% 0.41%
Net Income Q/Q Growth		 2.72% 10.07% -3.19% 9.30% 4.93% -108.24% 387.09% -8.35% 3.52% -0.68%
EPS Q/Q Growth		 2.72% 8.61% -4.76% 7.26% 4.79% -108.40% 351.05% -6.93% 4.44% -0.12%
Operating Cash Flow Q/Q Growth		 38.85% -0.62% 1.08% 3.71% 8.27% -43.51% 120.61% -7.29% 4.31% 0.85%
Free Cash Flow Firm Q/Q Growth		 -60.14% -0.84% -128.07% 369.71% 17.70% -84.27% 280.13% -11.01% -0.03% 11.40%
Invested Capital Q/Q Growth		 -1.55% -1.60% 38.99% 0.63% -2.63% -6.15% 0.67% 1.20% 2.61% 1.05%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 21.03% 68.43% 68.41% 21.60% 100.00% 18.04% 20.75% 20.72% 19.87% 21.16%
EBITDA Margin		 10.16% 13.16% 13.25% 13.36% 13.74% 3.23% 13.77% 15.89% 15.16% 15.58%
Operating Margin		 5.43% 8.97% 9.45% 9.49% 9.78% 0.61% 9.01% 12.07% 11.46% 11.54%
EBIT Margin		 5.43% 8.97% 9.45% 9.49% 9.78% -1.33% 8.89% 12.07% 11.46% 11.54%
Profit (Net Income) Margin		 10.49% 5.41% 6.68% 7.38% 8.38% -0.67% 8.75% 9.89% 9.36% 9.02%
Tax Burden Percent		 404.73% 83.39% 75.18% 98.40% 91.19% 32.55% 109.16% 87.13% 87.63% 87.42%
Interest Burden Percent		 47.69% 72.28% 94.07% 78.99% 93.97% 155.26% 90.08% 94.09% 93.24% 89.45%
Effective Tax Rate		 -12.04% 20.01% 24.29% 0.31% 8.14% 0.00% -9.70% 12.69% 12.23% 12.34%
Return on Invested Capital (ROIC)		 12.11% 18.68% 20.98% 26.57% 26.25% 1.19% 26.88% 38.98% 39.09% 37.02%
ROIC Less NNEP Spread (ROIC-NNEP)		 37.87% -4.84% 12.88% 3.47% 17.97% -17.78% -82.42% -24.33% 24.46% 23.03%
Return on Net Nonoperating Assets (RNNOA)		 19.49% -1.18% 2.65% 1.18% 4.85% -3.41% -2.41% -0.95% 5.55% 9.22%
Return on Equity (ROE)		 31.60% 17.50% 23.64% 27.74% 31.10% -2.22% 24.47% 38.03% 44.63% 46.25%
Cash Return on Invested Capital (CROIC)		 22.04% 61.28% -7.45% 20.64% 29.67% 4.61% 35.89% 33.20% 37.61% 11.76%
Operating Return on Assets (OROA)		 5.62% 11.76% 13.72% 14.25% 14.65% -1.31% 6.21% 11.18% 11.80% 12.19%
Return on Assets (ROA)		 10.85% 7.09% 9.70% 11.08% 12.56% -0.66% 6.11% 9.17% 9.64% 9.53%
Return on Common Equity (ROCE)		 31.60% 17.50% 23.64% 27.74% 31.10% -2.22% 24.47% 38.03% 44.63% 46.25%
Return on Equity Simple (ROE_SIMPLE)		 30.41% 19.21% 22.80% 27.16% 29.82% -2.25% 22.37% 43.34% 44.60% 45.82%
Net Operating Profit after Tax (NOPAT)		 412 498 513 764 765 34 712 1,015 1,055 1,152
NOPAT Margin		 6.09% 7.18% 7.15% 9.46% 8.99% 0.43% 9.89% 10.54% 10.06% 10.11%
Net Nonoperating Expense Percent (NNEP)		 -25.76% 23.51% 8.10% 23.10% 8.29% 18.97% 109.30% 63.30% 14.63% 13.99%
Cost of Revenue to Revenue		 78.97% 31.57% 31.59% 78.40% 0.00% 81.96% 79.25% 79.28% 80.14% 78.84%
SG&A Expenses to Revenue		 6.36% 5.55% 5.41% 5.07% 4.76% 4.82% 5.51% 3.88% 3.68% 4.21%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 15.60% 59.45% 58.96% 12.11% 90.22% 17.43% 11.74% 8.65% 8.41% 9.62%
Earnings before Interest and Taxes (EBIT)		 368 622 678 767 833 -104 640 1,162 1,202 1,314
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 687 912 950 1,080 1,169 252 991 1,531 1,590 1,774
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.71 3.47 4.26 4.17 5.34 3.53 5.97 6.61 8.48 7.78
Price to Tangible Book Value (P/TBV)		 7.14 13.41 0.00 151.93 49.53 16.85 17.32 40.96 52.18 0.00
Price to Revenue (P/Rev)		 0.94 0.98 1.25 1.13 1.50 1.05 2.33 1.51 1.78 1.53
Price to Earnings (P/E)		 8.92 18.06 18.68 15.37 17.92 0.00 26.68 15.24 19.01 16.97
Dividend Yield		 4.37% 3.71% 3.11% 3.41% 2.89% 4.98% 1.21% 3.78% 3.14% 3.59%
Earnings Yield		 11.21% 5.54% 5.35% 6.51% 5.58% 0.00% 3.75% 6.56% 5.26% 5.89%
Enterprise Value to Invested Capital (EV/IC)		 2.25 3.31 3.46 3.36 4.63 3.13 6.53 5.60 7.06 5.34
Enterprise Value to Revenue (EV/Rev)		 1.07 1.00 1.35 1.23 1.56 1.11 2.29 1.56 1.83 1.64
Enterprise Value to EBITDA (EV/EBITDA)		 10.57 7.60 10.16 9.21 11.34 34.32 16.66 9.80 12.07 10.54
Enterprise Value to EBIT (EV/EBIT)		 19.75 11.15 14.25 12.96 15.92 0.00 25.79 12.91 15.96 14.23
Enterprise Value to NOPAT (EV/NOPAT)		 17.63 13.94 18.82 13.00 17.33 258.12 23.19 14.78 18.19 16.23
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.00 8.65 10.53 9.92 10.46 12.06 13.83 11.86 12.36 11.53
Enterprise Value to Free Cash Flow (EV/FCFF)		 9.68 4.25 0.00 16.74 15.34 66.66 17.37 17.36 18.91 51.13
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.63 0.23 0.45 0.42 0.39 0.51 0.33 0.41 0.40 0.65
Long-Term Debt to Equity		 0.62 0.23 0.45 0.42 0.39 0.40 0.33 0.41 0.40 0.61
Financial Leverage		 0.51 0.24 0.21 0.34 0.27 0.19 0.03 0.04 0.23 0.40
Leverage Ratio		 2.91 2.47 2.44 2.50 2.48 3.35 4.00 4.15 4.63 4.85
Compound Leverage Factor		 1.39 1.78 2.29 1.98 2.33 5.21 3.61 3.90 4.32 4.34
Debt to Total Capital		 38.61% 18.39% 30.83% 29.68% 27.94% 33.96% 24.84% 29.07% 28.67% 39.39%
Short-Term Debt to Total Capital		 0.39% 0.00% 0.00% 0.00% 0.00% 7.65% 0.00% 0.00% 0.00% 2.35%
Long-Term Debt to Total Capital		 38.21% 18.39% 30.83% 29.68% 27.94% 26.31% 24.84% 29.07% 28.67% 37.04%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 61.40% 81.61% 69.17% 70.32% 72.06% 66.04% 75.16% 70.93% 71.33% 60.61%
Debt to EBITDA		 2.14 0.48 0.99 0.86 0.79 4.75 0.94 0.59 0.56 0.82
Net Debt to EBITDA		 1.36 0.18 0.74 0.72 0.40 1.73 -0.29 0.31 0.33 0.71
Long-Term Debt to EBITDA		 2.11 0.48 0.99 0.86 0.79 3.68 0.94 0.59 0.56 0.77
Debt to NOPAT		 3.56 0.88 1.83 1.21 1.21 35.75 1.31 0.89 0.84 1.26
Net Debt to NOPAT		 2.26 0.33 1.37 1.02 0.62 12.99 -0.40 0.47 0.49 1.10
Long-Term Debt to NOPAT		 3.53 0.88 1.83 1.21 1.21 27.70 1.31 0.89 0.84 1.19
Altman Z-Score		 2.58 3.58 3.45 3.60 4.17 1.33 2.23 2.34 2.69 2.39
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.88 0.69 0.46 0.40 0.61 0.61 1.01 0.64 0.52 0.38
Quick Ratio		 0.51 0.29 0.24 0.17 0.37 0.45 0.69 0.27 0.23 0.12
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 750 1,633 -182 594 864 130 950 864 1,015 366
Operating Cash Flow to CapEx		 329.37% 0.00% 295.58% 241.11% 272.78% 149.86% 450.55% 322.27% 272.95% 259.47%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 1.03 1.31 1.45 1.50 1.50 0.99 0.70 0.93 1.03 1.06
Accounts Receivable Turnover		 83.61 97.65 102.50 101.25 98.96 113.06 121.97 137.38 137.82 143.00
Inventory Turnover		 29.62 12.90 12.79 32.98 0.00 30.90 28.68 33.09 30.10 31.05
Fixed Asset Turnover		 2.05 2.64 3.32 3.44 3.42 0.00 0.00 0.00 0.00 2.88
Accounts Payable Turnover		 24.73 9.94 9.22 24.06 0.00 21.99 20.59 22.74 21.19 21.75
Days Sales Outstanding (DSO)		 4.37 3.74 3.56 3.60 3.69 3.23 2.99 2.66 2.65 2.55
Days Inventory Outstanding (DIO)		 12.32 28.29 28.54 11.07 0.00 11.81 12.73 11.03 12.13 11.76
Days Payable Outstanding (DPO)		 14.76 36.74 39.59 15.17 0.00 16.60 17.73 16.05 17.22 16.78
Cash Conversion Cycle (CCC)		 1.93 -4.72 -7.48 -0.49 3.69 -1.56 -2.01 -2.36 -2.45 -2.47
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 3,232 2,097 2,792 2,963 2,863 2,767 2,528 2,679 2,719 3,505
Invested Capital Turnover		 1.99 2.60 2.93 2.81 2.92 2.77 2.72 3.70 3.89 3.66
Increase / (Decrease) in Invested Capital		 -338 -1,135 695 171 -100 -96 -239 150 40 786
Enterprise Value (EV)		 7,260 6,938 9,653 9,941 13,254 8,655 16,504 15,001 19,186 18,704
Market Capitalization		 6,328 6,773 8,949 9,161 12,783 8,219 16,788 14,520 18,669 17,442
Book Value per Share		 $18.55 $15.40 $16.90 $17.73 $19.46 $19.29 $21.50 $17.62 $18.20 $18.79
Tangible Book Value per Share		 $7.05 $3.99 ($0.40) $0.49 $2.10 $4.04 $7.41 $2.84 $2.96 ($2.48)
Total Capital		 3,801 2,392 3,038 3,121 3,320 3,530 3,743 3,099 3,086 3,700
Total Debt		 1,467 440 937 927 928 1,199 930 901 885 1,457
Total Long-Term Debt		 1,452 440 937 927 928 929 930 901 885 1,370
Net Debt		 931 165 704 780 470 436 -285 480 517 1,262
Capital Expenditures (CapEx)		 245 -74 310 416 465 479 265 392 569 625
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -661 -642 -934 -978 -1,039 -1,185 -1,192 -1,089 -1,308 -1,478
Debt-free Net Working Capital (DFNWC)		 -125 -367 -701 -831 -582 -421 23 -668 -940 -1,283
Net Working Capital (NWC)		 -140 -367 -701 -831 -582 -691 23 -668 -940 -1,370
Net Nonoperating Expense (NNE)		 -298 123 34 168 51 86 82 62 73 124
Net Nonoperating Obligations (NNO)		 899 145 690 768 470 436 -285 480 517 1,262
Total Depreciation and Amortization (D&A)		 319 290 273 313 337 356 351 368 388 460
Debt-free, Cash-free Net Working Capital to Revenue		 -9.78% -9.25% -13.03% -12.10% -12.21% -15.18% -16.56% -11.31% -12.47% -12.97%
Debt-free Net Working Capital to Revenue		 -1.85% -5.29% -9.78% -10.28% -6.83% -5.40% 0.32% -6.94% -8.96% -11.26%
Net Working Capital to Revenue		 -2.07% -5.29% -9.78% -10.28% -6.83% -8.86% 0.32% -6.94% -8.96% -12.03%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.96 $2.94 $3.85 $4.81 $5.78 ($0.43) $4.83 $7.46 $8.06 $8.57
Adjusted Weighted Average Basic Shares Outstanding		 143.13M 127.40M 124.30M 124M 123.50M 122.70M 130.40M 127.80M 121.90M 119.90M
Adjusted Diluted Earnings per Share		 $4.88 $2.90 $3.80 $4.73 $5.69 ($0.43) $4.77 $7.39 $7.99 $8.51
Adjusted Weighted Average Diluted Shares Outstanding		 145.38M 129.30M 126M 126M 125.40M 122.70M 131.80M 129M 122.90M 120.80M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $5.78 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 141.98M 126.22M 125.42M 123.54M 123.08M 129.89M 130.76M 123.95M 121.07M 118.86M
Normalized Net Operating Profit after Tax (NOPAT)		 301 502 507 768 782 307 459 1,013 1,046 1,163
Normalized NOPAT Margin		 4.45% 7.24% 7.07% 9.50% 9.19% 3.93% 6.37% 10.52% 9.97% 10.21%
Pre Tax Income Margin		 2.59% 6.49% 8.89% 7.50% 9.19% -2.06% 8.01% 11.36% 10.68% 10.32%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 39.31% 71.52% 58.26% 52.60% -51.98% -615.08% 32.19% 59.09% 60.07% 61.15%
Augmented Payout Ratio		 110.11% 120.80% 106.30% 92.00% -22.89% -1,245.42% 39.41% 171.53% 106.78% 105.32%

Quarterly Metrics and Ratios for Darden Restaurants

This table displays calculated financial ratios and metrics derived from Darden Restaurants' official financial filings.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 6.08% 9.43% 13.77% 6.38% 11.63% 9.68% 6.77% 6.80% 0.97% 5.97% 6.16%
EBITDA Growth		 -8.06% -1.40% 13.44% 9.37% 6.74% 18.48% 12.74% 9.22% 7.72% 7.37% 8.87%
EBIT Growth		 -12.97% -3.87% 16.32% 10.73% 3.56% 19.43% 10.72% 5.58% 6.45% 4.88% 7.95%
NOPAT Growth		 -14.13% -1.35% 15.43% 12.41% 4.76% 19.54% 13.88% 1.52% 9.09% 4.61% 4.98%
Net Income Growth		 -16.41% -3.11% 16.03% 11.86% 0.78% 13.30% 9.18% -2.22% 6.53% 1.41% 3.36%
EPS Growth		 -10.86% 2.70% 21.24% 15.25% 1.92% 15.79% 11.11% -0.39% 9.43% 3.41% 5.38%
Operating Cash Flow Growth		 137.27% -31.01% 16.07% 18.44% -37.10% 64.00% 16.02% 3.32% 1.52% 14.03% 0.41%
Free Cash Flow Firm Growth		 141.16% 131.62% 136.04% 99.62% -296.06% -387.26% -257.03% -250.92% 119.08% 27.23% 30.60%
Invested Capital Growth		 -5.82% -0.06% 0.10% 1.49% 36.67% 30.78% 30.91% 28.92% 2.90% 19.32% 19.94%
Revenue Q/Q Growth		 -6.02% 1.65% 12.05% -0.62% -1.39% -0.12% 9.07% -0.59% -6.77% 4.82% 9.27%
EBITDA Q/Q Growth		 -21.20% -2.88% 35.82% 5.22% -23.09% 7.80% 29.23% 1.94% -24.15% 7.45% 31.04%
EBIT Q/Q Growth		 -27.79% -4.50% 50.04% 7.03% -32.47% 10.12% 39.10% 2.07% -31.92% 8.51% 43.17%
NOPAT Q/Q Growth		 -29.39% -2.75% 48.28% 10.39% -34.19% 10.97% 41.27% -1.59% -29.28% 6.41% 41.76%
Net Income Q/Q Growth		 -31.49% -3.01% 53.10% 9.94% -38.27% 9.05% 47.52% -1.53% -32.75% 3.81% 50.35%
EPS Q/Q Growth		 -30.04% -2.56% 53.95% 9.83% -38.13% 10.69% 47.73% -1.54% -32.03% 4.60% 50.55%
Operating Cash Flow Q/Q Growth		 22.90% -51.43% 142.97% -18.34% -34.73% 26.64% 71.89% -27.28% -35.87% 42.24% 51.36%
Free Cash Flow Firm Q/Q Growth		 150.23% -44.21% 45.80% -1.93% -345.77% 18.25% 20.30% 5.75% 131.06% -411.86% 23.99%
Invested Capital Q/Q Growth		 -3.62% 5.51% -2.73% 2.61% 29.79% 0.96% -2.64% 1.05% 3.59% 17.07% -2.13%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 18.54% 17.80% 20.99% 21.76% 20.42% 20.17% 21.70% 22.21% 20.41% 21.20% 22.24%
EBITDA Margin		 13.89% 13.27% 16.09% 17.03% 13.28% 14.34% 16.99% 17.42% 14.17% 14.53% 17.42%
Operating Margin		 9.98% 9.38% 12.56% 13.52% 9.26% 10.21% 13.02% 13.37% 9.76% 10.11% 13.24%
EBIT Margin		 9.98% 9.38% 12.56% 13.52% 9.26% 10.21% 13.02% 13.37% 9.76% 10.11% 13.24%
Profit (Net Income) Margin		 7.89% 7.53% 10.29% 11.38% 7.12% 7.78% 10.52% 10.42% 7.52% 7.44% 10.24%
Tax Burden Percent		 86.01% 87.72% 86.77% 89.42% 87.14% 87.86% 89.17% 85.58% 89.27% 87.47% 86.77%
Interest Burden Percent		 91.89% 91.51% 94.40% 94.10% 88.26% 86.68% 90.58% 91.05% 86.22% 84.18% 89.12%
Effective Tax Rate		 13.73% 12.14% 13.17% 10.44% 12.72% 12.05% 10.69% 13.89% 10.56% 12.28% 13.15%
Return on Invested Capital (ROIC)		 31.62% 30.19% 42.50% 47.07% 28.50% 31.47% 42.59% 42.14% 27.85% 26.28% 35.47%
ROIC Less NNEP Spread (ROIC-NNEP)		 24.64% 26.20% 38.94% 43.00% 25.74% 28.52% 39.09% 38.50% 25.51% 24.06% 33.01%
Return on Net Nonoperating Assets (RNNOA)		 2.59% 5.08% 8.69% 9.75% 11.60% 15.63% 17.52% 15.42% 17.05% 21.67% 24.43%
Return on Equity (ROE)		 34.21% 35.28% 51.20% 56.82% 40.10% 47.10% 60.11% 57.56% 44.90% 47.95% 59.90%
Cash Return on Invested Capital (CROIC)		 42.82% 35.93% 38.34% 37.61% 3.87% 8.48% 10.73% 11.76% 29.88% 12.68% 13.34%
Operating Return on Assets (OROA)		 9.49% 9.17% 12.78% 13.92% 9.38% 10.54% 13.61% 14.12% 9.85% 9.82% 13.02%
Return on Assets (ROA)		 7.50% 7.36% 10.47% 11.71% 7.21% 8.02% 10.99% 11.01% 7.58% 7.23% 10.07%
Return on Common Equity (ROCE)		 34.21% 35.28% 51.20% 56.82% 40.10% 47.10% 60.11% 57.56% 44.90% 47.95% 59.90%
Return on Equity Simple (ROE_SIMPLE)		 44.32% 44.98% 46.41% 0.00% 45.78% 49.43% 47.44% 0.00% 48.53% 50.38% 47.83%
Net Operating Profit after Tax (NOPAT)		 211 205 304 335 221 245 346 340 241 256 363
NOPAT Margin		 8.61% 8.24% 10.90% 12.11% 8.08% 8.98% 11.63% 11.51% 8.73% 8.87% 11.50%
Net Nonoperating Expense Percent (NNEP)		 6.98% 4.00% 3.56% 4.07% 2.76% 2.95% 3.50% 3.64% 2.34% 2.22% 2.45%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - 6.52% - - - 5.73% 8.28%
Cost of Revenue to Revenue		 81.46% 82.20% 79.01% 78.24% 79.58% 79.83% 78.30% 77.79% 79.59% 78.80% 77.76%
SG&A Expenses to Revenue		 3.61% 3.64% 3.84% 3.63% 5.61% 4.21% 3.64% 3.48% 4.58% 4.99% 3.70%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 8.56% 8.43% 8.43% 8.23% 11.16% 9.96% 8.68% 8.84% 10.65% 11.09% 9.00%
Earnings before Interest and Taxes (EBIT)		 244 233 350 375 253 279 387 395 269 292 418
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 340 330 448 472 363 391 505 515 391 420 550
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 7.00 8.46 8.17 8.48 8.48 8.88 9.11 7.78 8.54 9.51 10.17
Price to Tangible Book Value (P/TBV)		 65.59 96.53 83.44 52.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.48 1.71 1.62 1.78 1.69 1.65 1.77 1.53 1.60 1.70 1.90
Price to Earnings (P/E)		 15.80 18.82 17.61 19.01 18.53 17.97 19.21 16.97 17.60 18.89 21.26
Dividend Yield		 3.87% 3.31% 3.45% 3.14% 3.28% 3.35% 3.09% 3.59% 3.46% 3.23% 2.88%
Earnings Yield		 6.33% 5.31% 5.68% 5.26% 5.40% 5.56% 5.21% 5.89% 5.68% 5.30% 4.70%
Enterprise Value to Invested Capital (EV/IC)		 5.80 6.54 6.53 7.06 5.56 5.51 6.10 5.34 5.45 5.15 5.86
Enterprise Value to Revenue (EV/Rev)		 1.53 1.78 1.68 1.83 1.82 1.78 1.89 1.64 1.73 1.89 2.07
Enterprise Value to EBITDA (EV/EBITDA)		 9.98 11.90 11.17 12.07 12.16 11.74 12.23 10.54 10.99 11.95 12.99
Enterprise Value to EBIT (EV/EBIT)		 13.30 15.95 14.85 15.96 16.19 15.64 16.36 14.23 14.88 16.28 17.72
Enterprise Value to NOPAT (EV/NOPAT)		 15.28 18.22 17.01 18.19 18.41 17.78 18.44 16.23 16.89 18.49 20.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.90 12.55 11.63 12.36 14.06 12.86 13.16 11.53 12.18 13.08 14.53
Enterprise Value to Free Cash Flow (EV/FCFF)		 13.14 18.19 17.05 18.91 165.81 73.69 64.45 51.13 18.51 44.19 47.87
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.43 0.47 0.43 0.40 0.73 0.84 0.70 0.65 0.78 1.16 0.99
Long-Term Debt to Equity		 0.43 0.44 0.43 0.40 0.69 0.67 0.63 0.61 0.65 1.02 0.96
Financial Leverage		 0.11 0.19 0.22 0.23 0.45 0.55 0.45 0.40 0.67 0.90 0.74
Leverage Ratio		 4.27 4.48 4.68 4.63 5.05 5.26 5.07 4.85 5.27 5.80 5.46
Compound Leverage Factor		 3.92 4.10 4.42 4.36 4.46 4.56 4.60 4.42 4.55 4.88 4.86
Debt to Total Capital		 30.25% 31.83% 30.12% 28.67% 42.27% 45.73% 41.25% 39.39% 43.93% 53.65% 49.75%
Short-Term Debt to Total Capital		 0.00% 1.96% 0.00% 0.00% 2.56% 9.31% 4.27% 2.35% 7.69% 6.16% 1.33%
Long-Term Debt to Total Capital		 30.25% 29.88% 30.12% 28.67% 39.70% 36.41% 36.98% 37.04% 36.24% 47.49% 48.42%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 69.75% 68.17% 69.88% 71.33% 57.73% 54.27% 58.75% 60.61% 56.07% 46.35% 50.25%
Debt to EBITDA		 0.60 0.63 0.57 0.56 0.98 1.03 0.89 0.82 0.93 1.31 1.16
Net Debt to EBITDA		 0.34 0.47 0.39 0.33 0.86 0.91 0.74 0.71 0.83 1.19 1.04
Long-Term Debt to EBITDA		 0.60 0.59 0.57 0.56 0.92 0.82 0.79 0.77 0.77 1.16 1.13
Debt to NOPAT		 0.91 0.97 0.87 0.84 1.48 1.56 1.33 1.26 1.43 2.03 1.82
Net Debt to NOPAT		 0.53 0.72 0.60 0.49 1.30 1.38 1.12 1.10 1.27 1.84 1.63
Long-Term Debt to NOPAT		 0.91 0.91 0.87 0.84 1.39 1.24 1.20 1.19 1.18 1.79 1.77
Altman Z-Score		 2.02 2.21 2.24 2.42 2.08 2.04 2.24 2.12 2.10 1.96 2.20
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.52 0.47 0.46 0.52 0.40 0.36 0.39 0.38 0.35 0.37 0.39
Quick Ratio		 0.23 0.16 0.17 0.23 0.12 0.12 0.14 0.12 0.11 0.12 0.13
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 370 207 301 295 -726 -593 -473 -446 138 -432 -328
Operating Cash Flow to CapEx		 361.93% 133.72% 370.16% 259.47% 174.17% 201.90% 379.40% 289.21% 180.33% 221.05% 360.42%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.95 0.98 1.02 1.03 1.01 1.03 1.05 1.06 1.01 0.97 0.98
Accounts Receivable Turnover		 165.18 141.92 187.33 137.82 196.04 145.00 172.60 143.00 185.63 146.48 170.72
Inventory Turnover		 32.35 30.58 30.21 30.10 30.65 28.74 29.29 31.05 30.79 28.96 29.63
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.88 0.00 0.00 0.00
Accounts Payable Turnover		 21.39 20.36 21.46 21.19 20.77 20.29 21.32 21.75 21.94 21.87 22.42
Days Sales Outstanding (DSO)		 2.21 2.57 1.95 2.65 1.86 2.52 2.11 2.55 1.97 2.49 2.14
Days Inventory Outstanding (DIO)		 11.28 11.93 12.08 12.13 11.91 12.70 12.46 11.76 11.86 12.60 12.32
Days Payable Outstanding (DPO)		 17.06 17.93 17.01 17.22 17.57 17.99 17.12 16.78 16.64 16.69 16.28
Cash Conversion Cycle (CCC)		 -3.57 -3.42 -2.98 -2.45 -3.80 -2.77 -2.54 -2.47 -2.82 -1.59 -1.83
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,582 2,724 2,650 2,719 3,528 3,562 3,469 3,505 3,631 4,251 4,160
Invested Capital Turnover		 3.67 3.66 3.90 3.89 3.53 3.50 3.66 3.66 3.19 2.96 3.08
Increase / (Decrease) in Invested Capital		 -160 -1.70 2.60 40 947 838 819 786 102 688 692
Enterprise Value (EV)		 14,974 17,808 17,310 19,186 19,604 19,643 21,161 18,704 19,800 21,883 24,357
Market Capitalization		 14,456 17,105 16,704 18,669 18,223 18,120 19,873 17,442 18,313 19,704 22,400
Book Value per Share		 $16.65 $16.51 $16.79 $18.20 $17.74 $16.95 $18.26 $18.79 $18.04 $17.62 $18.81
Tangible Book Value per Share		 $1.78 $1.45 $1.65 $2.96 ($3.11) ($4.17) ($3.06) ($2.48) ($3.33) ($7.91) ($6.80)
Total Capital		 2,959 2,965 2,925 3,086 3,721 3,758 3,712 3,700 3,823 4,468 4,384
Total Debt		 895 944 881 885 1,573 1,718 1,532 1,457 1,680 2,397 2,181
Total Long-Term Debt		 895 886 881 885 1,477 1,368 1,373 1,370 1,386 2,122 2,123
Net Debt		 518 703 606 517 1,380 1,523 1,288 1,262 1,487 2,180 1,957
Capital Expenditures (CapEx)		 118 155 136 159 155 169 154 147 152 176 163
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,262 -1,197 -1,335 -1,308 -1,355 -1,360 -1,481 -1,478 -1,404 -1,464 -1,569
Debt-free Net Working Capital (DFNWC)		 -884 -956 -1,060 -940 -1,163 -1,164 -1,237 -1,283 -1,211 -1,246 -1,344
Net Working Capital (NWC)		 -884 -1,014 -1,060 -940 -1,259 -1,514 -1,396 -1,370 -1,505 -1,521 -1,403
Net Nonoperating Expense (NNE)		 18 18 17 20 26 33 33 32 34 41 40
Net Nonoperating Obligations (NNO)		 518 703 606 517 1,380 1,523 1,288 1,262 1,487 2,180 1,957
Total Depreciation and Amortization (D&A)		 96 97 98 97 110 113 118 120 122 128 132
Debt-free, Cash-free Net Working Capital to Revenue		 -12.91% -11.99% -12.93% -12.47% -12.58% -12.35% -13.22% -12.97% -12.30% -12.64% -13.34%
Debt-free Net Working Capital to Revenue		 -9.05% -9.58% -10.26% -8.96% -10.80% -10.57% -11.05% -11.26% -10.61% -10.76% -11.43%
Net Working Capital to Revenue		 -9.05% -10.16% -10.26% -8.96% -11.68% -13.75% -12.46% -12.03% -13.18% -13.14% -11.92%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.57 $1.53 $2.36 $2.60 $1.61 $1.77 $2.62 $2.57 $1.75 $1.83 $2.76
Adjusted Weighted Average Basic Shares Outstanding		 122.90M 122.10M 121.40M 121.90M 120.90M 119.90M 119.40M 119.90M 118.50M 117.50M 117.20M
Adjusted Diluted Earnings per Share		 $1.56 $1.52 $2.34 $2.57 $1.59 $1.76 $2.60 $2.56 $1.74 $1.82 $2.74
Adjusted Weighted Average Diluted Shares Outstanding		 123.90M 123.10M 122.50M 122.90M 122M 120.80M 120.40M 120.80M 119.20M 118.30M 118M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 122.39M 121.71M 120.93M 121.07M 120.31M 119.41M 119.36M 118.86M 117.50M 117.15M 117.03M
Normalized Net Operating Profit after Tax (NOPAT)		 206 197 305 337 223 252 346 342 242 256 363
Normalized NOPAT Margin		 8.44% 7.93% 10.94% 12.17% 8.18% 9.22% 11.64% 11.55% 8.77% 8.87% 11.50%
Pre Tax Income Margin		 9.17% 8.58% 11.85% 12.73% 8.17% 8.85% 11.80% 12.17% 8.42% 8.51% 11.80%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 62.08% 63.09% 61.16% 60.07% 60.99% 60.40% 59.79% 61.15% 61.13% 61.65% 61.77%
Augmented Payout Ratio		 180.57% 164.11% 130.82% 106.78% 101.93% 108.34% 97.66% 105.32% 107.59% 104.23% 105.85%

Frequently Asked Questions About Darden Restaurants' Financials

When does Darden Restaurants's fiscal year end?

According to the most recent income statement we have on file, Darden Restaurants' financial year ends in May. Their financial year 2024 ended on May 26, 2024.

How has Darden Restaurants' net income changed over the last 9 years?

Darden Restaurants' net income appears to be on an upward trend, with a most recent value of $1.03 billion in 2024, rising from $709.50 million in 2015. The previous period was $981.90 million in 2023.

What is Darden Restaurants's operating income?
Darden Restaurants's total operating income in 2024 was $1.31 billion, based on the following breakdown:
  • Total Gross Profit: $2.41 billion
  • Total Operating Expenses: $1.10 billion
How has Darden Restaurants revenue changed over the last 9 years?

Over the last 9 years, Darden Restaurants' total revenue changed from $6.76 billion in 2015 to $11.39 billion in 2024, a change of 68.4%.

How much debt does Darden Restaurants have?

Darden Restaurants' total liabilities were at $9.08 billion at the end of 2024, a 12.9% increase from 2023, and a 148.0% increase since 2015.

How much cash does Darden Restaurants have?

In the past 9 years, Darden Restaurants' cash and equivalents has ranged from $146.90 million in 2018 to $1.21 billion in 2021, and is currently $194.80 million as of their latest financial filing in 2024.

How has Darden Restaurants' book value per share changed over the last 9 years?

Over the last 9 years, Darden Restaurants' book value per share changed from 18.55 in 2015 to 18.79 in 2024, a change of 1.3%.

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This page (NYSE:DRI) was last updated on 4/14/2025 by MarketBeat.com Staff
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