Darden Restaurants, Inc. (DRI) Key Metrics
DRI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $24.48B
- Enterprise value
- $30.37B
- P/E (TTM)
- 21.0 10-yr median 19.8
- Forward P/E
- 18.9
- PEG ratio
- 1.90
- Price / sales
- 1.8 10-yr median 1.7
- Price / book
- 11.0 10-yr median 7.0
- EV / EBITDA
- 14.2 10-yr median 13.3
- Dividend yield
- 3.00% $6.48 a year
- Beta
- 0.62
DRI key metrics, FY2017–FY2026
Fiscal year ended May 31, 2026 · U.S. dollarsDRI valuation Price multiples at each fiscal year-end price.
DRI returns How much profit the business earns on the capital it uses.
DRI per-share figures Results divided by the shares outstanding at year-end.
DRI financial health Debt, liquidity and how easily interest is covered.
DRI efficiency & capital use Working capital cycle and where the cash goes.
DRI valuation history
DRI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DRI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DRI cash returned to shareholders
DRI price vs earnings per share
DRI key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $23.49B | $25.36B | $18.17B | $19.48B | $16.12B | $18.88B | $9.43B | $14.59B | $11.01B | $11.21B |
| Enterprise value | $29.32B | $31.35B | $23.40B | $23.91B | $20.59B | $23.42B | $14.68B | $15.06B | $12.03B | $12.11B |
| P/E ratio | 19.5 | 24.2 | 17.7 | 19.8 | 16.9 | 30.0 | — | 20.4 | 18.5 | 23.4 |
| Price / sales | 1.8 | 2.1 | 1.6 | 1.9 | 1.7 | 2.6 | 1.2 | 1.7 | 1.4 | 1.6 |
| Price / book | 10.6 | 11.0 | 8.1 | 8.8 | 7.3 | 6.7 | 4.0 | 6.1 | 5.0 | 5.3 |
| Price / free cash flow | 21.0 | 24.5 | 18.5 | 20.5 | 18.8 | 20.4 | 43.4 | 18.6 | 18.8 | 19.2 |
| Price / operating cash flow | 12.7 | 14.9 | 11.3 | 12.6 | 12.8 | 15.8 | 13.3 | 11.6 | 11.0 | 12.5 |
| EV / sales | 2.2 | 2.6 | 2.1 | 2.3 | 2.1 | 3.3 | 1.9 | 1.8 | 1.5 | 1.7 |
| EV / EBITDA | 12.5 | 16.7 | 13.2 | 15.0 | 13.4 | 23.6 | 57.1 | 12.8 | 11.1 | 12.7 |
| EV / free cash flow | 26.2 | 30.3 | 23.8 | 25.1 | 24.0 | 25.3 | 67.5 | 19.2 | 20.5 | 20.7 |
| Earnings yield | 5.1% | 4.1% | 5.7% | 5.0% | 5.9% | 3.3% | −0.6% | 4.9% | 5.4% | 4.3% |
| Free cash flow yield | 4.8% | 4.1% | 5.4% | 4.9% | 5.3% | 4.9% | 2.3% | 5.4% | 5.3% | 5.2% |
| Dividend yield | 3.0% | 2.6% | 3.5% | 3.0% | 3.5% | 1.1% | 3.4% | 2.5% | 2.8% | 2.5% |
| Shareholder yield (dividends + buybacks) | 5.8% | 4.2% | 6.0% | 5.4% | 10.1% | 1.3% | 6.9% | 4.0% | 5.0% | 4.5% |
| Share price at fiscal year-end | $203.91 | $214.21 | $150.39 | $158.52 | $125.00 | $143.23 | $76.86 | $116.32 | $87.41 | $88.93 |
| Per share | ||||||||||
| Revenue per share | $114.68 | $102.00 | $94.29 | $85.34 | $74.65 | $54.60 | $63.63 | $67.87 | $64.13 | $56.91 |
| Earnings per share | $10.47 | $8.86 | $8.51 | $7.99 | $7.39 | $4.77 | −$0.43 | $5.69 | $4.73 | $3.80 |
| Operating cash flow per share | $16.09 | $14.41 | $13.34 | $12.58 | $9.74 | $9.06 | $5.80 | $10.04 | $7.95 | $7.14 |
| Free cash flow per share | $9.71 | $8.73 | $8.14 | $7.74 | $6.64 | $7.02 | $1.77 | $6.25 | $4.66 | $4.64 |
| Cash per share | $1.91 | $2.03 | $1.61 | $2.99 | $3.26 | $9.22 | $6.22 | $3.65 | $1.17 | $1.85 |
| Book value per share | $19.16 | $19.52 | $18.56 | $17.91 | $17.04 | $21.34 | $19.00 | $19.08 | $17.42 | $16.68 |
| Tangible book value per share | −$6.92 | −$5.87 | −$3.22 | $2.91 | $2.75 | $7.36 | $3.98 | $2.06 | $0.48 | −$0.40 |
| Dividends per share | $6.02 | $5.56 | $5.20 | $4.80 | $4.36 | $1.54 | $2.63 | $2.96 | $2.49 | $2.22 |
| Capex per share | $6.37 | $5.67 | $5.20 | $4.83 | $3.09 | $2.04 | $4.03 | $3.79 | $3.29 | $2.50 |
| Debt per share | $52.55 | $52.62 | $44.93 | $39.01 | $37.89 | $43.69 | $48.98 | $7.42 | $9.21 | $9.06 |
| Shares outstanding | 115.2M | 118.4M | 120.8M | 122.9M | 129.0M | 131.8M | 122.7M | 125.4M | 126.0M | 126.0M |
| Change in shares outstanding | −2.7% | −2.0% | −1.7% | −4.7% | −2.1% | +7.4% | −2.2% | −0.5% | 0.0% | −2.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 53.4% | 46.1% | 46.2% | 44.6% | 38.0% | 24.5% | −2.2% | 31.1% | 27.7% | 23.6% |
| Return on invested capital (ROIC) | 16.9% | 15.3% | 16.3% | 15.9% | 14.5% | 8.7% | 0.7% | 25.2% | 24.6% | 19.3% |
| Return on assets (ROA) | 9.5% | 8.8% | 9.5% | 9.6% | 9.2% | 6.1% | −0.7% | 12.6% | 10.9% | 9.5% |
| Return on tangible assets | 12.2% | 11.0% | 11.8% | 11.7% | 11.5% | 7.1% | −0.6% | 19.0% | 17.9% | 14.3% |
| Free cash flow margin | 8.5% | 8.6% | 8.6% | 9.1% | 8.9% | 12.9% | 2.8% | 9.2% | 7.3% | 8.2% |
| Income quality (OCF / net income) | 1.54 | 1.62 | 1.57 | 1.57 | 1.32 | 1.90 | — | 1.77 | 1.68 | 1.88 |
| Financial health | ||||||||||
| Total debt | $6.05B | $6.23B | $5.43B | $4.79B | $4.89B | $5.76B | $6.01B | $930.6M | $1.16B | $1.14B |
| Cash & short-term investments | $219.5M | $240.0M | $194.8M | $367.8M | $420.6M | $1.21B | $763.3M | $457.3M | $146.9M | $233.1M |
| Net debt | $5.83B | $5.99B | $5.23B | $4.43B | $4.47B | $4.54B | $5.25B | $473.3M | $1.01B | $908.7M |
| Debt / equity | 2.74 | 2.70 | 2.42 | 2.18 | 2.22 | 2.05 | 2.58 | 0.39 | 0.53 | 0.54 |
| Debt / assets | 0.47 | 0.49 | 0.48 | 0.47 | 0.48 | 0.54 | 0.60 | 0.16 | 0.21 | 0.21 |
| Net debt / EBITDA | 2.50 | 3.18 | 2.94 | 2.77 | 2.91 | 4.58 | 20.41 | 0.40 | 0.94 | 0.95 |
| Current ratio | 0.31 | 0.42 | 0.38 | 0.51 | 0.64 | 1.01 | 0.61 | 0.61 | 0.40 | 0.62 |
| Quick ratio | 0.21 | 0.28 | 0.24 | 0.37 | 0.49 | 0.91 | 0.50 | 0.46 | 0.25 | 0.48 |
| Interest coverage | 8.2 | 7.6 | 9.4 | 14.1 | 15.9 | 9.8 | 0.8 | 15.4 | 4.7 | 16.3 |
| Working capital | −$2.06B | −$1.31B | −$1.37B | −$939.7M | −$668.1M | $22.8M | −$691.4M | −$581.5M | −$830.9M | −$489.4M |
| Invested capital | $8.04B | $8.30B | $7.48B | $6.63B | $6.66B | $7.36B | $7.58B | $2.87B | $3.21B | $3.01B |
| Tangible asset value | −$797.1M | −$694.5M | −$388.4M | $357.8M | $354.5M | $969.4M | $487.9M | $258.1M | $60.3M | −$50.2M |
| Net current asset value | −$9.71B | −$9.34B | −$8.26B | −$7.04B | −$6.76B | −$5.97B | −$6.51B | −$2.61B | −$2.72B | −$2.60B |
| Graham number | $67.20 | $62.40 | $59.61 | $56.75 | $53.22 | $47.88 | — | $49.42 | $43.06 | $37.78 |
| Graham net-net per share | −$88.32 | −$82.85 | −$71.86 | −$60.77 | −$56.80 | −$49.18 | −$54.69 | −$22.91 | −$23.51 | −$23.99 |
| Capital allocation | ||||||||||
| Dividends paid | $693.0M | $658.5M | $628.4M | $589.8M | $563.0M | $202.6M | $322.3M | $370.8M | $313.5M | $279.1M |
| Share buybacks (net) | $671.7M | $418.2M | $453.9M | $458.7M | $1.07B | $45.4M | $330.3M | $207.5M | $234.8M | $230.2M |
| Dividend payout ratio | 57.4% | 62.7% | 61.2% | 60.1% | 59.1% | 32.2% | — | 52.0% | 52.6% | 58.3% |
| Dividends + buybacks / free cash flow | 121.9% | 104.2% | 110.0% | 110.2% | 190.7% | 26.8% | 300.3% | 73.8% | 93.4% | 87.1% |
| Capex / revenue | 5.6% | 5.6% | 5.5% | 5.7% | 4.1% | 3.7% | 6.3% | 5.6% | 5.1% | 4.4% |
| Capex / operating cash flow | 39.6% | 39.4% | 39.0% | 38.4% | 31.8% | 22.5% | 69.5% | 37.8% | 41.3% | 35.1% |
| Capex / depreciation | 1.31 | 1.30 | 1.37 | 1.53 | 1.08 | 0.77 | 1.39 | 1.41 | 1.32 | 1.16 |
| Stock-based compensation / revenue | 0.6% | 0.7% | 0.6% | 0.6% | 0.6% | 1.0% | 0.7% | 0.7% | 0.5% | 0.6% |
| SG&A / revenue | 5.3% | 5.7% | 5.5% | 4.8% | 4.8% | 6.8% | 7.9% | 7.8% | 8.2% | 8.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 3.1 | 2.6 | 2.6 | 2.6 | 2.7 | 3.0 | 3.2 | 3.7 | 3.6 | 3.6 |
| Days of inventory on hand | 28.8 | 11.6 | 11.8 | 12.2 | 11.0 | 12.7 | 11.8 | 11.3 | 11.1 | 11.5 |
| Days payables outstanding | 39.2 | 16.2 | 16.8 | 17.3 | 16.0 | 17.7 | 16.6 | 16.7 | 15.2 | 16.0 |
| Cash conversion cycle (days) | -7.3 | -2.0 | -2.5 | -2.5 | -2.4 | -2.0 | -1.6 | -1.7 | -0.5 | -0.9 |
| Receivables turnover | 118.11 | 139.70 | 143.00 | 137.82 | 137.38 | 121.97 | 113.06 | 98.96 | 101.25 | 102.50 |
| Payables turnover | 9.31 | 22.49 | 21.69 | 21.13 | 22.74 | 20.59 | 21.99 | 21.85 | 24.06 | 22.80 |
| Inventory turnover | 12.66 | 31.34 | 30.97 | 30.00 | 33.09 | 28.68 | 30.90 | 32.29 | 32.98 | 31.62 |
| Asset turnover | 1.04 | 1.01 | 1.06 | 1.03 | 0.93 | 0.70 | 0.99 | 1.50 | 1.47 | 1.42 |
| Average receivables | $111.8M | $86.5M | $79.7M | $76.1M | $70.1M | $59.0M | $69.0M | $86.0M | $79.8M | $70.0M |
| Average payables | $433.6M | $419.6M | $412.9M | $396.6M | $335.7M | $276.9M | $291.0M | $304.8M | $263.2M | $245.7M |
| Average inventory | $318.9M | $301.1M | $289.2M | $279.2M | $230.7M | $198.8M | $207.1M | $206.3M | $192.1M | $177.2M |
| Intangibles / total assets | 23.4% | 23.9% | 23.2% | 18.0% | 18.2% | 17.3% | 18.5% | 36.2% | 39.0% | 39.1% |
Computed from DRI's annual financial statements (latest annual report filed July 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
DRI valuation and financial ratios
At the end of fiscal 2026 (May 31, 2026), Darden traded at 19.5 times earnings, against a 10-year median of 19.8. Based on the latest twelve months, the trailing P/E is 21.0 and the forward P/E is 18.9. Darden earned a return on equity of 53.4% and a return on invested capital of 16.9% in fiscal 2026. It ended the year with $6.1 billion of debt and $219.5 million in cash and short-term investments, net debt of $5.8 billion. It returned $1.4 billion to shareholders: $693.0 million in dividends and $671.7 million in share buybacks, 122% of free cash flow. The share count fell 8.6% from 126.0M to 115.2M over 9 years.
See the DRI income statement, the DRI chart for price history, or the DRI stock overview for the latest quote and news.
DRI key metrics FAQ
What is Darden's P/E ratio?
Darden's trailing P/E ratio is 21.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.9. At the end of fiscal 2026 it was 19.5, compared with a 10-year median of 19.8.
What is Darden's EV/EBITDA?
Darden's enterprise value was 12.5 times EBITDA at the end of fiscal 2026 (enterprise value $29.3 billion, EBITDA $2.3 billion); the current EV/EBITDA is 14.2.
What is Darden's return on equity?
Darden's return on equity (ROE) was 53.4% in fiscal 2026: net income of $1.2 billion on average shareholders' equity of $2.3 billion.
What is Darden's ROIC?
Darden's return on invested capital was 16.9% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Darden have?
Darden had total debt of $6.1 billion at the end of fiscal 2026, a debt-to-equity ratio of 2.74 and $5.8 billion of net debt (2.50 times EBITDA).
What is Darden's dividend yield?
Darden's forward dividend yield is 3.00%. Darden paid $693.0 million in dividends in fiscal 2026 ($6.02 per share), a payout ratio of 57.4%.
Does Darden buy back its shares?
Yes. Darden spent $671.7 million on net share repurchases in fiscal 2026 Shares outstanding changed −2.7% over the year, to 115.2M..
What is Darden's free cash flow yield?
Darden generated $1.1 billion of free cash flow in fiscal 2026, a free cash flow yield of 4.8% on its market value at year-end ($23.5 billion).
What is Darden's current ratio?
Darden's current ratio was 0.31 at the end of fiscal 2026: current assets were 0.31 times current liabilities.