Darden Restaurants, Inc. (DRI) Balance Sheet
DRI balance sheet, FY2026
May 31, 2026 · U.S. dollars$12.86B assets = $10.65B liabilities + $2.21B equity
Both columns are drawn to the same scale: what DRI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
DRI financial health
Current ratio0.31
Tight · current assets cover current liabilities 0.31×
Debt / equity2.74
High leverage · $2.74 of debt for each $1 of equity
Equity / assets17.2%
Thin equity · of assets funded by shareholders
Cash / debt3.6%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles23.4%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
DRI balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.50BFY2017 | $12.86BFY2026 | +9.9%/yr | |
| Total liabilities | $3.40BFY2017 | $10.65BFY2026 | +13.5%/yr | |
| Shareholders’ equity | $2.10BFY2017 | $2.21BFY2026 | +0.5%/yr | |
| Cash & short-term investments | $233.1MFY2017 | $219.5MFY2026 | −0.7%/yr | |
| Total debt | $1.14BFY2017 | $6.05BFY2026 | +20.4%/yr | |
| Net cash (debt) | −$908.7MFY2017 | −$5.83BFY2026 | −$4.9B | |
| Working capital | −$489.4MFY2017 | −$2.06BFY2026 | −$1.6B | |
| Book value per share | $16.68FY2017 | $19.16FY2026 | +1.6%/yr | |
| Current ratio | 0.62FY2017 | 0.31FY2026 | −0.31 | |
| Debt / equity | 0.54FY2017 | 2.74FY2026 | +2.20 | |
| Shares outstanding | 126.0MFY2017 | 115.2MFY2026 | −1.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DRI assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
DRI liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
DRI debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
DRI balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $219.5M | $240.0M | $194.8M | $367.8M | $420.6M | $1.21B | $763.3M | $457.3M | $146.9M | $233.1M |
| Cash & equivalents | $219.5M | $240.0M | $194.8M | $367.8M | $420.6M | $1.21B | $763.3M | $457.3M | $146.9M | $233.1M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $129.9M | $93.8M | $79.1M | $80.2M | $72.0M | $68.2M | $49.8M | $88.3M | $83.7M | $75.9M |
| Inventory | $326.3M | $311.6M | $290.5M | $287.9M | $270.6M | $190.8M | $206.9M | $207.3M | $205.3M | $178.9M |
| Other current assets | $267.2M | $292.3M | $258.4M | $261.8M | $416.2M | $397.4M | $81.4M | $139.7M | $117.7M | $311.9M |
| Total current assets | $942.9M | $937.7M | $822.8M | $997.7M | $1.18B | $1.87B | $1.10B | $892.6M | $553.6M | $799.8M |
| Property, plant & equipment (net) | $8.48B | $8.27B | $7.61B | $7.10B | $6.82B | $6.65B | $6.73B | $2.55B | $2.43B | $2.27B |
| Goodwill & intangible assets | $3.00B | $3.01B | $2.63B | $1.84B | $1.84B | $1.84B | $1.84B | $2.13B | $2.13B | $2.15B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $433.2M | $371.6M | $255.7M | $301.1M | $291.6M | $295.7M | $275.3M | $313.1M | $351.7M | $280.2M |
| Total assets | $12.86B | $12.59B | $11.32B | $10.24B | $10.14B | $10.66B | $9.95B | $5.89B | $5.47B | $5.50B |
| Liabilities | ||||||||||
| Accounts payable | $427.7M | $439.6M | $399.5M | $426.2M | $366.9M | $304.5M | $249.4M | $332.6M | $277.0M | $249.5M |
| Short-term debt | $693.6M | $243.9M | $352.7M | $196.0M | $202.5M | $184.3M | $436.3M | $2.9M | $234.1M | $205.2M |
| Deferred revenue | $606.0M | $599.4M | $591.8M | $512.0M | $498.0M | $474.2M | $467.9M | $428.5M | $415.8M | $388.6M |
| Total current liabilities | $3.01B | $2.25B | $2.19B | $1.94B | $1.85B | $1.85B | $1.79B | $1.47B | $1.38B | $1.29B |
| Long-term debt | $1.67B | $2.13B | $2.73B | $884.9M | $901.0M | $929.8M | $928.8M | $927.7M | $926.5M | $936.6M |
| Lease obligations | $3.96B | $4.06B | $3.92B | $3.67B | $3.76B | $4.09B | $4.44B | — | — | — |
| Other long-term liabilities | $5.98B | $5.90B | $4.16B | $5.22B | $5.19B | $5.06B | $4.89B | $1.10B | $963.8M | $1.18B |
| Total liabilities | $10.65B | $10.28B | $9.08B | $8.04B | $7.94B | $7.84B | $7.61B | $3.50B | $3.27B | $3.40B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $2.30B | $2.30B | $2.25B | $2.23B | $2.23B | $2.29B | $2.21B | $1.69B | $1.63B | $1.61B |
| Retained earnings (deficit) | −$108.4M | −$16.1M | −$35.5M | −$32.5M | −$25.9M | $522.3M | $143.5M | $806.6M | $657.6M | $560.1M |
| Treasury stock | — | — | — | — | — | — | — | — | −$7.8M | −$7.8M |
| Accumulated other comprehensive income | $19.6M | $31.8M | $25.6M | $3.2M | −$1.9M | $4.2M | −$17.6M | −$98.2M | −$85.2M | −$62.9M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $2.21B | $2.31B | $2.24B | $2.20B | $2.20B | $2.81B | $2.33B | $2.39B | $2.19B | $2.10B |
| Key figures | ||||||||||
| Total debt | $6.05B | $6.23B | $5.43B | $4.79B | $4.89B | $5.76B | $6.01B | $930.6M | $1.16B | $1.14B |
| Net cash (debt) | −$5.83B | −$5.99B | −$5.23B | −$4.43B | −$4.47B | −$4.54B | −$5.25B | −$473.3M | −$1.01B | −$908.7M |
| Working capital | −$2.06B | −$1.31B | −$1.37B | −$939.7M | −$668.1M | $22.8M | −$691.4M | −$581.5M | −$830.9M | −$489.4M |
| Tangible book value | −$797.1M | −$694.5M | −$388.4M | $357.8M | $354.5M | $969.4M | $487.9M | $258.1M | $60.3M | −$50.2M |
| Book value per share | $19.16 | $19.52 | $18.56 | $17.91 | $17.04 | $21.34 | $19.00 | $19.08 | $17.42 | $16.68 |
| Shares outstanding | 115.2M | 118.4M | 120.8M | 122.9M | 129.0M | 131.8M | 122.7M | 125.4M | 126.0M | 126.0M |
| Current ratio | 0.31 | 0.42 | 0.38 | 0.51 | 0.64 | 1.01 | 0.61 | 0.61 | 0.40 | 0.62 |
| Quick ratio | 0.12 | 0.15 | 0.12 | 0.23 | 0.27 | 0.69 | 0.45 | 0.37 | 0.17 | 0.24 |
| Debt / equity | 2.74 | 2.70 | 2.42 | 2.18 | 2.22 | 2.05 | 2.58 | 0.39 | 0.53 | 0.54 |
| Equity / assets | 17.2% | 18.4% | 19.8% | 21.5% | 21.7% | 26.4% | 23.4% | 40.6% | 40.1% | 38.2% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $220.5M | $219.5M | $248.5M | $224.1M | $211.0M | $240.0M | $224.2M | $217.3M | $192.5M | $194.8M | $243.9M | $195.7M |
| Cash & equivalents | $220.5M | $219.5M | $248.5M | $224.1M | $211.0M | $240.0M | $224.2M | $217.3M | $192.5M | $194.8M | $243.9M | $195.7M |
| Receivables | $118.0M | $129.9M | $107.7M | $126.1M | $94.1M | $93.8M | $65.6M | $77.8M | $63.8M | $79.1M | $72.2M | $80.3M |
| Inventory | $321.0M | $326.3M | $345.3M | $354.5M | $309.6M | $311.6M | $324.6M | $318.0M | $297.7M | $290.5M | $298.2M | $310.6M |
| Other current assets | $293.6M | $267.2M | $317.0M | $338.7M | $318.1M | $292.3M | $266.2M | $266.5M | $265.6M | $258.4M | $262.1M | $281.1M |
| Total current assets | $953.1M | $942.9M | $1.02B | $1.04B | $932.8M | $937.7M | $880.6M | $879.6M | $819.6M | $822.8M | $876.4M | $867.7M |
| Property, plant & equipment (net) | $8.84B | $8.48B | $8.46B | $8.50B | $3.61B | $3.56B | $8.31B | $8.27B | $7.64B | $7.61B | $7.60B | $7.58B |
| Goodwill & intangible assets | $3.00B | $3.00B | $3.00B | $3.00B | $3.00B | $3.10B | $3.00B | $3.00B | $2.54B | $2.63B | $2.55B | $2.54B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $432.9M | $433.2M | $403.2M | $387.9M | $5.21B | $4.99B | $370.1M | $370.1M | $358.6M | $255.7M | $339.8M | $330.3M |
| Total assets | $13.23B | $12.86B | $12.89B | $12.94B | $12.76B | $12.59B | $12.56B | $12.52B | $11.36B | $11.32B | $11.36B | $11.32B |
| Liabilities | ||||||||||||
| Accounts payable | $470.0M | $427.7M | $451.4M | $460.8M | $468.7M | $439.6M | $417.2M | $408.5M | $401.0M | $399.5M | $406.0M | $423.9M |
| Short-term debt | $979.7M | $693.6M | $290.0M | $438.0M | $366.0M | $243.9M | $58.2M | $275.2M | $293.9M | $352.7M | $158.7M | $350.0M |
| Deferred revenue | $571.5M | $606.0M | $654.9M | $567.0M | $562.7M | $599.4M | $640.0M | $552.0M | $554.7M | $591.8M | $626.0M | $547.3M |
| Total current liabilities | $3.20B | $3.01B | $2.61B | $2.65B | $2.35B | $2.25B | $2.28B | $2.40B | $2.32B | $2.19B | $2.27B | $2.38B |
| Long-term debt | $0 | $1.67B | $3.85B | $2.14B | $3.77B | $2.13B | $3.66B | $3.61B | $1.39B | $1.42B | $1.37B | $1.37B |
| Lease obligations | — | $3.96B | $3.75B | $3.83B | $3.88B | $4.06B | $3.90B | $3.94B | $3.64B | $3.92B | $3.77B | $3.82B |
| Other long-term liabilities | $7.96B | $5.98B | $4.33B | $6.07B | $4.42B | $5.90B | $4.42B | $4.44B | $5.50B | $5.47B | $5.53B | $5.53B |
| Total liabilities | $11.16B | $10.65B | $10.78B | $10.86B | $10.53B | $10.28B | $10.36B | $10.45B | $9.21B | $9.08B | $9.18B | $9.28B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2.31B | $2.30B | $2.30B | $2.30B | $2.30B | $2.30B | $2.28B | $2.26B | $2.26B | $2.25B | $2.25B | $2.24B |
| Retained earnings (deficit) | −$259.5M | −$108.4M | −$217.4M | −$235.7M | −$100.6M | −$16.1M | −$108.4M | −$218.9M | −$144.5M | −$35.5M | −$101.6M | −$228.5M |
| Accumulated other comprehensive income | $20.4M | $19.6M | $24.4M | $17.7M | $26.0M | $31.8M | $33.1M | $28.8M | $25.9M | $25.6M | $29.7M | $27.4M |
| Total shareholders' equity | $2.07B | $2.21B | $2.10B | $2.08B | $2.23B | $2.31B | $2.20B | $2.07B | $2.14B | $2.24B | $2.18B | $2.04B |
| Key figures | ||||||||||||
| Total debt | $6.63B | $6.05B | $6.19B | $6.41B | $8.02B | $7.77B | $6.08B | $6.34B | $5.32B | $5.43B | $5.31B | $5.53B |
| Net cash (debt) | −$6.41B | −$5.83B | −$5.94B | −$6.18B | −$7.80B | −$7.53B | −$5.86B | −$6.12B | −$5.12B | −$5.23B | −$5.06B | −$5.34B |
| Working capital | −$2.25B | −$2.06B | −$1.59B | −$1.61B | −$1.41B | −$1.31B | −$1.40B | −$1.52B | −$1.51B | −$1.37B | −$1.40B | −$1.51B |
| Tangible book value | −$936.2M | −$797.1M | −$900.6M | −$924.2M | −$779.0M | −$791.8M | −$796.7M | −$929.4M | −$395.3M | −$388.4M | −$364.9M | −$501.2M |
| Book value per share | $18.08 | $19.16 | $18.03 | $17.83 | $18.93 | $19.60 | $18.67 | $17.51 | $17.98 | $18.67 | $18.11 | $16.88 |
| Shares outstanding | 114.4M | 115.2M | 116.7M | 116.7M | 117.6M | 117.9M | 118.0M | 118.3M | 119.2M | 120.1M | 120.4M | 120.8M |
| Current ratio | 0.30 | 0.31 | 0.39 | 0.39 | 0.40 | 0.42 | 0.39 | 0.37 | 0.35 | 0.38 | 0.39 | 0.36 |
| Quick ratio | 0.11 | 0.12 | 0.14 | 0.13 | 0.13 | 0.15 | 0.13 | 0.12 | 0.11 | 0.12 | 0.14 | 0.12 |
| Debt / equity | 3.20 | 2.74 | 2.94 | 3.08 | 3.60 | 3.36 | 2.76 | 3.06 | 2.48 | 2.42 | 2.43 | 2.71 |
| Equity / assets | 15.6% | 17.2% | 16.3% | 16.1% | 17.4% | 18.4% | 17.5% | 16.5% | 18.9% | 19.8% | 19.2% | 18.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 24, 2026); data from EODHD.
DRI financial position
At the end of fiscal 2026 (May 31, 2026), Darden had total assets of $12.9 billion (up 2.2% from a year earlier), total liabilities of $10.7 billion and shareholders' equity of $2.2 billion. It held $219.5 million in cash and short-term investments against $6.1 billion of debt, net debt of $5.8 billion. Its current ratio was 0.31. In the latest quarter (ended August 31, 2026) total assets were $13.2 billion and equity $2.1 billion.
Related: DRI income statement, DRI cash flow statement, DRI key metrics. See the DRI stock overview for the latest quote and news.
DRI balance sheet FAQ
What are Darden's total assets?
Darden reported total assets of $12.9 billion at the end of fiscal 2026 (May 31, 2026), compared with $12.6 billion a year earlier.
How much debt does Darden have?
Darden had $6.1 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.74.
How much cash does Darden have?
Darden held $219.5 million in cash and short-term investments at the end of fiscal 2026; with $6.1 billion of debt that is net debt of $5.8 billion.
What is Darden's book value?
Darden's shareholders' equity (book value) was $2.2 billion at the end of fiscal 2026, or $19.16 per share.
What is Darden's current ratio?
Darden had current assets of $942.9 million and current liabilities of $3.0 billion, a current ratio of 0.31 (current liabilities exceed current assets).
How much goodwill does Darden have?
Darden carried $3.0 billion of goodwill and intangible assets, 23.4% of total assets, at the end of fiscal 2026.