Darden Restaurants (DRI)
Market Price (10/12/2026): $197.71 | Market Cap: $22.5 BilInvestor Relations Sector: Consumer Discretionary | Industry: Restaurants
Darden Restaurants (DRI)
Market Price (10/12/2026): $197.71Market Cap: $22.5 BilSector: Consumer DiscretionaryIndustry: Restaurants
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, Dividend Yield is 3.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.1% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% Stock buyback supportStock Buyback 3Y Total is 1.6 Bil Low stock price volatilityVol 12M is 27% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Future of Dining. Themes include Experiential Retail, Off-Premise Dining, Show more. | Weak multi-year price returns2Y Excs Rtn is -7.2%, 3Y Excs Rtn is -28% | Key risksDRI key risks include [1] margin pressure from commodity inflation in key inputs like beef and seafood, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, Dividend Yield is 3.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.1% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Stock buyback supportStock Buyback 3Y Total is 1.6 Bil |
| Low stock price volatilityVol 12M is 27% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Future of Dining. Themes include Experiential Retail, Off-Premise Dining, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -7.2%, 3Y Excs Rtn is -28% |
| Key risksDRI key risks include [1] margin pressure from commodity inflation in key inputs like beef and seafood, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 10/1/2026
Darden Restaurants (DRI) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Darden Restaurants reported fiscal Q1 2027 results that narrowly missed analyst expectations for both earnings and revenue. Darden's diluted net earnings per share from continuing operations for fiscal Q1 2027 (which ended August 30, 2026) were $2.05, slightly below analyst projections of $2.06 per share. Total sales reached $3.2 billion, also just missing the consensus estimate of $3.21 billion.
2. Olive Garden, the company's largest brand, showed weaker-than-expected comparable sales growth. In fiscal Q1 2027, Olive Garden's comparable same-restaurant sales increased by only 1.1%, which was below analyst expectations for the segment. Management attributed this underperformance, in part, to a negative impact from the World Cup and consumer concerns related to cyclospora, which led to a pause in marketing for its "unlimited soup, salad, and breadsticks" promotion. These factors were estimated to have created a 1.5% to 2.0% headwind for Olive Garden's growth and a 0.8% headwind for the company's total growth.
Show more
Darden Restaurants (DRI) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Darden Restaurants reported fiscal Q1 2027 results that narrowly missed analyst expectations for both earnings and revenue. Darden's diluted net earnings per share from continuing operations for fiscal Q1 2027 (which ended August 30, 2026) were $2.05, slightly below analyst projections of $2.06 per share. Total sales reached $3.2 billion, also just missing the consensus estimate of $3.21 billion.
2. Olive Garden, the company's largest brand, showed weaker-than-expected comparable sales growth. In fiscal Q1 2027, Olive Garden's comparable same-restaurant sales increased by only 1.1%, which was below analyst expectations for the segment. Management attributed this underperformance, in part, to a negative impact from the World Cup and consumer concerns related to cyclospora, which led to a pause in marketing for its "unlimited soup, salad, and breadsticks" promotion. These factors were estimated to have created a 1.5% to 2.0% headwind for Olive Garden's growth and a 0.8% headwind for the company's total growth.
Show more
Updated on 10/1/2026
Darden Restaurants (DRI) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Darden Restaurants reported fiscal Q1 2027 results that narrowly missed analyst expectations for both earnings and revenue. Darden's diluted net earnings per share from continuing operations for fiscal Q1 2027 (which ended August 30, 2026) were $2.05, slightly below analyst projections of $2.06 per share. Total sales reached $3.2 billion, also just missing the consensus estimate of $3.21 billion.
2. Olive Garden, the company's largest brand, showed weaker-than-expected comparable sales growth. In fiscal Q1 2027, Olive Garden's comparable same-restaurant sales increased by only 1.1%, which was below analyst expectations for the segment. Management attributed this underperformance, in part, to a negative impact from the World Cup and consumer concerns related to cyclospora, which led to a pause in marketing for its "unlimited soup, salad, and breadsticks" promotion. These factors were estimated to have created a 1.5% to 2.0% headwind for Olive Garden's growth and a 0.8% headwind for the company's total growth.
3. Increased operating costs negatively impacted profitability. Total operating costs and expenses, including food, beverage, and labor, rose by 6.5% to $2.88 billion during fiscal Q1 2027. Although the company maintained a flat restaurant-level EBITDA margin of 18.8% through labor productivity and sales mix adjustments, the increase in underlying costs was a notable concern for investors.
4. The reaffirmed fiscal year 2027 guidance was perceived as underwhelming by the market. Despite Darden reiterating its full fiscal 2027 outlook, projecting diluted EPS between $11.10 and $11.35 and total sales between $13.60 billion and $13.75 billion, the stock reacted negatively. Some analysts characterized the outlook as "underwhelming for growth" and suggested that shares were "fairly valued" at current levels, implying a lack of new catalysts for significant future upside.
Show less
Darden Restaurants (DRI) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Darden Restaurants reported fiscal Q1 2027 results that narrowly missed analyst expectations for both earnings and revenue. Darden's diluted net earnings per share from continuing operations for fiscal Q1 2027 (which ended August 30, 2026) were $2.05, slightly below analyst projections of $2.06 per share. Total sales reached $3.2 billion, also just missing the consensus estimate of $3.21 billion.
2. Olive Garden, the company's largest brand, showed weaker-than-expected comparable sales growth. In fiscal Q1 2027, Olive Garden's comparable same-restaurant sales increased by only 1.1%, which was below analyst expectations for the segment. Management attributed this underperformance, in part, to a negative impact from the World Cup and consumer concerns related to cyclospora, which led to a pause in marketing for its "unlimited soup, salad, and breadsticks" promotion. These factors were estimated to have created a 1.5% to 2.0% headwind for Olive Garden's growth and a 0.8% headwind for the company's total growth.
3. Increased operating costs negatively impacted profitability. Total operating costs and expenses, including food, beverage, and labor, rose by 6.5% to $2.88 billion during fiscal Q1 2027. Although the company maintained a flat restaurant-level EBITDA margin of 18.8% through labor productivity and sales mix adjustments, the increase in underlying costs was a notable concern for investors.
4. The reaffirmed fiscal year 2027 guidance was perceived as underwhelming by the market. Despite Darden reiterating its full fiscal 2027 outlook, projecting diluted EPS between $11.10 and $11.35 and total sales between $13.60 billion and $13.75 billion, the stock reacted negatively. Some analysts characterized the outlook as "underwhelming for growth" and suggested that shares were "fairly valued" at current levels, implying a lack of new catalysts for significant future upside.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -2.5% change in DRI stock from 6/30/2026 to 10/11/2026 was primarily driven by a -9.9% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10112026 | Change |
|---|---|---|---|
| Stock Price ($) | 202.71 | 197.66 | -2.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,764 | 13,366 | 4.7% |
| Net Income Margin (%) | 8.7% | 8.8% | 2.1% |
| P/E Multiple | 21.1 | 19.0 | -9.9% |
| Shares Outstanding (Mil) | 115 | 114 | 1.2% |
| Cumulative Contribution | -2.5% |
Market Drivers
6/30/2026 to 10/11/2026| Return | Correlation | |
|---|---|---|
| DRI | -2.5% | |
| Market (SPY) | 4.3% | 1.2% |
| Sector (XLY) | -3.8% | 25.7% |
Fundamental Drivers
The 3.3% change in DRI stock from 3/31/2026 to 10/11/2026 was primarily driven by a 4.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312026 | 10112026 | Change |
|---|---|---|---|
| Stock Price ($) | 191.42 | 197.66 | 3.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,764 | 13,366 | 4.7% |
| Net Income Margin (%) | 8.7% | 8.8% | 2.1% |
| P/E Multiple | 19.9 | 19.0 | -4.6% |
| Shares Outstanding (Mil) | 115 | 114 | 1.2% |
| Cumulative Contribution | 3.3% |
Market Drivers
3/31/2026 to 10/11/2026| Return | Correlation | |
|---|---|---|
| DRI | 3.3% | |
| Market (SPY) | 20.0% | 4.2% |
| Sector (XLY) | 3.8% | 23.6% |
Fundamental Drivers
The 8.0% change in DRI stock from 9/30/2025 to 10/11/2026 was primarily driven by a 8.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302025 | 10112026 | Change |
|---|---|---|---|
| Stock Price ($) | 183.02 | 197.66 | 8.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,364 | 13,366 | 8.1% |
| Net Income Margin (%) | 8.9% | 8.8% | -0.6% |
| P/E Multiple | 19.4 | 19.0 | -2.2% |
| Shares Outstanding (Mil) | 117 | 114 | 2.7% |
| Cumulative Contribution | 8.0% |
Market Drivers
9/30/2025 to 10/11/2026| Return | Correlation | |
|---|---|---|
| DRI | 8.0% | |
| Market (SPY) | 17.8% | 11.8% |
| Sector (XLY) | -5.3% | 24.5% |
Fundamental Drivers
The 53.4% change in DRI stock from 9/30/2023 to 10/11/2026 was primarily driven by a 24.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10112026 | Change |
|---|---|---|---|
| Stock Price ($) | 128.86 | 197.66 | 53.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 10,772 | 13,366 | 24.1% |
| Net Income Margin (%) | 9.1% | 8.8% | -3.1% |
| P/E Multiple | 15.8 | 19.0 | 19.9% |
| Shares Outstanding (Mil) | 121 | 114 | 6.4% |
| Cumulative Contribution | 53.4% |
Market Drivers
9/30/2023 to 10/11/2026| Return | Correlation | |
|---|---|---|
| DRI | 53.4% | |
| Market (SPY) | 88.4% | 30.2% |
| Sector (XLY) | 43.4% | 35.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DRI Return | 29% | -5% | 23% | 18% | 2% | 12% | 102% |
| Peers Return | 5% | -7% | 27% | 49% | -4% | 36% | 142% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 107% |
Monthly Win Rates [3] | |||||||
| DRI Win Rate | 67% | 42% | 67% | 50% | 58% | 70% | |
| Peers Win Rate | 52% | 37% | 55% | 63% | 42% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| DRI Max Drawdown | -14% | -25% | -21% | -20% | -24% | -15% | |
| Peers Max Drawdown | -35% | -34% | -24% | -24% | -34% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: EAT, BLMN, TXRH, CAKE, YUM. See DRI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/9/2026 (YTD)
How Low Can It Go
| Event | DRI | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -19.4% | -9.5% |
| % Gain to Breakeven | 24.1% | 10.5% |
| Time to Breakeven | 66 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -23.6% | -24.5% |
| % Gain to Breakeven | 30.9% | 32.4% |
| Time to Breakeven | 147 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -71.7% | -33.7% |
| % Gain to Breakeven | 253.3% | 50.9% |
| Time to Breakeven | 236 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -16.0% | -12.2% |
| % Gain to Breakeven | 19.1% | 13.9% |
| Time to Breakeven | 36 days | 62 days |
| 2013 Taper Tantrum | ||
| % Loss | -10.5% | -0.2% |
| % Gain to Breakeven | 11.7% | 0.2% |
| Time to Breakeven | 24 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -22.1% | -17.9% |
| % Gain to Breakeven | 28.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
In The Past
Darden Restaurants's stock fell -8.0% during the 2025 US Tariff Shock. Such a loss loss requires a 8.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | DRI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -23.6% | -24.5% |
| % Gain to Breakeven | 30.9% | 32.4% |
| Time to Breakeven | 147 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -71.7% | -33.7% |
| % Gain to Breakeven | 253.3% | 50.9% |
| Time to Breakeven | 236 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -22.1% | -17.9% |
| % Gain to Breakeven | 28.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -21.7% | -15.4% |
| % Gain to Breakeven | 27.7% | 18.2% |
| Time to Breakeven | 121 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -49.1% | -53.4% |
| % Gain to Breakeven | 96.4% | 114.4% |
| Time to Breakeven | 29 days | 1085 days |
In The Past
Darden Restaurants's stock fell -8.0% during the 2025 US Tariff Shock. Such a loss loss requires a 8.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Darden Restaurants (DRI)
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Darden Restaurants, Inc. (DRI) is a prominent operator of full-service restaurants primarily across the United States, with some operations in Canada. Established in 1968 and headquartered in Orlando, Florida, the company owns and manages a significant portfolio of well-known and diverse restaurant brands.
The company's core business involves providing a wide array of dining experiences through its various chains. These include popular casual dining establishments such as Olive Garden, specializing in Italian cuisine, and LongHorn Steakhouse, focused on grilled steaks. Darden also operates other concepts like Cheddar's Scratch Kitchen, Yard House, and more upscale fine-dining brands including The Capital Grille and Eddie V's Prime Seafood. Darden caters to a broad customer base seeking different dining styles and price points, from family-friendly casual meals to premium dining experiences across its North American markets.
```AI Analysis | Feedback
Here are 1-3 brief analogies to describe Darden Restaurants (DRI):
- It's like the Yum! Brands of full-service restaurants.
- Think of it as the Marriott International of casual and fine dining.
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- Olive Garden Dining: Offers a casual Italian-American dining experience with a menu featuring pasta, salads, and breadsticks.
- LongHorn Steakhouse Dining: Provides a casual steakhouse experience focused on grilled steaks, ribs, and other American entrees.
- Cheddar's Scratch Kitchen Dining: Delivers American comfort food made from scratch in a casual, family-friendly setting.
- Yard House Dining: Features a vast selection of draft beers alongside American fusion cuisine in a high-energy environment.
- The Capital Grille Dining: Offers upscale, fine-dining experiences specializing in dry-aged steaks and fresh seafood.
- Seasons 52 Dining: Provides a fresh grill and wine bar experience, focusing on seasonally inspired dishes under 595 calories.
- Bahama Breeze Dining: Delivers a Caribbean-inspired dining experience with tropical drinks and island-style food.
- Eddie V's Prime Seafood Dining: Presents a luxury dining experience featuring prime seafood, steaks, and a sophisticated jazz lounge atmosphere.
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Darden Restaurants (DRI)
Darden Restaurants primarily sells directly to individual consumers through its portfolio of full-service restaurant brands. Its major customer categories include:
- Casual and Family Diners: This segment encompasses individuals and families seeking value, familiar cuisine (such as Italian-American or American comfort food), and a relaxed dining atmosphere. Brands like Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, and Bahama Breeze primarily cater to this broad customer base for regular meals and casual outings.
- Upscale Casual and Experiential Diners: These customers are looking for a more elevated casual dining experience, often characterized by specific features such as extensive craft beverage selections or seasonally inspired, health-conscious menus. Brands like Yard House and Seasons 52 appeal to individuals and groups seeking a vibrant social atmosphere or a focus on fresh, high-quality ingredients for social gatherings or slightly more special occasions.
- Fine Dining and Affluent Clientele: This category consists of discerning individuals, business professionals, and those celebrating very special occasions who seek premium steaks and seafood, extensive wine lists, impeccable service, and a luxurious ambiance. The Capital Grille and Eddie V's Prime Seafood brands serve this high-end market segment, commanding a higher price point for a sophisticated dining experience.
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Rick Cardenas, President and Chief Executive Officer
Rick Cardenas became President and Chief Executive Officer of Darden Restaurants on May 30, 2022. He is a 35-year veteran of the company, having started his career as a busser at Red Lobster in 1984 (a brand formerly owned by Darden). Prior to becoming CEO, he served as Darden's President and Chief Operating Officer from January 2021 and as Chief Financial Officer from March 2016. Cardenas briefly left Darden between 1998 and 2000 to work for management consulting firms Bain & Company and The Parthenon Group. He is a Certified Public Accountant and holds a bachelor's degree in Finance & Accounting from the University of Central Florida and an MBA from The Amos Tuck School of Business Administration at Dartmouth College. He currently serves on the board of directors of Tractor Supply Company.
Rajesh Vennam, Senior Vice President and Chief Financial Officer
Rajesh Vennam was named Senior Vice President and Chief Financial Officer of Darden Restaurants in January 2021, after serving as Senior Vice President, Treasurer since July 2020. He joined Darden in 2003 and has held various financial roles within the company, including positions at Red Lobster when it was part of Darden. Prior to rejoining Darden in 2016, Vennam served as Vice President, Financial Planning & Analysis and Investor Relations for The Fresh Market Inc. He holds an MBA from the University of Central Florida, an M.S. in Electrical Engineering from Old Dominion University, and a degree in electronics and communications engineering from Osmania University. He currently serves on the board of directors of Cushman & Wakefield.
Todd A. Burrowes, Group President
Todd A. Burrowes is a Group President at Darden Restaurants. He is also identified as the President of Business Development.
M. John Martin, Group President
M. John Martin serves as a Group President at Darden Restaurants. He is also known as the President of Specialty Restaurant Group.
John Wilkerson, President of Olive Garden
John Wilkerson is the President of Olive Garden, one of Darden Restaurants' key brands.
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The key risks to Darden Restaurants (DRI) largely revolve around economic sensitivities inherent to the restaurant industry, intense market competition, and the growing threat of cybersecurity breaches.
- Inflationary Pressures and Macroeconomic Headwinds: Darden faces significant challenges from rising costs across its operations, including food commodities (such as chicken, seafood, and beef), labor (driven by competitive markets and increasing minimum wages), and utilities. These inflationary pressures can compress profit margins. Furthermore, the company is vulnerable to broader macroeconomic disruptions and potential economic slowdowns that can impact consumer discretionary spending, leading to reduced dining frequency or a shift to lower-priced alternatives across its brands, including Olive Garden and LongHorn Steakhouse.
- Intense Competition and Shifting Consumer Preferences: The restaurant industry is highly competitive, with Darden's brands vying for market share against other full-service chains, independent restaurants, and the growing segments of fast-casual dining and delivery services. This intense competition necessitates continuous innovation and adaptation to evolving consumer preferences, such as a demand for healthier options or different dining experiences, to maintain brand relevance and drive profitable sales growth.
- Cybersecurity and Data Privacy Risks: Darden is exposed to increasingly sophisticated cyber-attacks that could compromise its information systems and sensitive data, including customer and employee information. A successful cyber-attack could result in operational disruptions, reputational damage, customer dissatisfaction, and significant financial and legal liabilities due to remediation costs, regulatory investigations, and potential litigation. Compliance with evolving data security and privacy laws also requires ongoing capital investments and expenditures.
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Darden Restaurants, Inc. primarily operates in the full-service restaurant market in the United States and Canada. The addressable markets for their main products and services can be quantified as follows:
United States
- Full-Service Restaurant Market: The market size for full-service restaurants in the United States was valued at approximately USD 362.15 billion in 2025. Another estimate places the U.S. full-service restaurants market size at US$ 371.9 billion in 2025. This market is projected to grow to USD 685.11 billion by 2031, at a compound annual growth rate (CAGR) of 11.07% during the forecast period (2026-2031).
- Fine Dining Restaurant Market: A segment within the full-service market, the fine dining restaurant market in the United States is projected to reach USD 191.11 billion in 2025.
Canada
- Full-Service Restaurant Market: The market size for full-service restaurants in Canada was estimated at C$47.2 billion in 2025.
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Expected Drivers of Future Revenue Growth for Darden Restaurants (DRI)
Darden Restaurants (NYSE: DRI) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- New Restaurant Openings and Unit Expansion: Darden plans significant new restaurant development, with guidance for 65 to 70 new restaurant openings in fiscal year 2026. This expansion includes specific targets for popular brands like LongHorn Steakhouse, aiming for 25 to 30 annual openings, and Olive Garden, targeting approximately 20 new locations annually. Management has also indicated a strong pipeline sufficient to sustain or increase unit growth for fiscal year 2027 and beyond.
- Same-Restaurant Sales Growth: The company anticipates same-restaurant sales growth in the range of 3.5% to 4.3% for fiscal year 2026. This growth is supported by positive performance across its segments, particularly Olive Garden and LongHorn Steakhouse, which have consistently delivered strong same-restaurant sales. Darden's strategic approach to pricing, often below inflation while focusing on value, also contributes to attracting and retaining guests.
- Strategic Acquisitions and Portfolio Diversification: Recent acquisitions, such as Ruth's Chris Steak House in June 2023 and Chuy's Holdings in October 2024, are contributing to Darden's sales and diversifying its brand portfolio. The sales and profits from these acquired restaurants, like Chuy's, are integrated into the company's "Other Business" segment, bolstering overall revenue.
- Menu Innovation and Growth in First-Party Delivery Services: Innovations in menu offerings, such as the successful introduction of a "lighter portion" section at Olive Garden, have enhanced affordability perceptions and guest frequency. Additionally, the expansion of first-party delivery services, like Olive Garden's partnership with Uber Direct, which accounted for 4% of its total sales and proved to be incrementally beneficial, is a key driver for capturing a younger, more affluent customer base.
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Share Repurchases
- In June 2025, Darden's Board of Directors authorized a new share repurchase program of up to $1 billion, replacing a previous authorization.
- The company repurchased approximately $222 million of common stock in Q2 fiscal year 2026, with $643 million remaining under the current $1 billion authorization.
- Darden spent $453.9 million on share repurchases in fiscal year 2024.
Share Issuance
- Darden's shares outstanding have shown a decline over the past few years, including a 1.99% decrease in 2025, 1.71% in 2024, and 4.73% in 2023, indicating net repurchases rather than significant issuance.
Outbound Investments
- In June 2023, Darden acquired Ruth's Hospitality Group, including 77 company-owned Ruth's Chris Steak House restaurants, for a total consideration of $724.6 million.
- The company completed the acquisition of Chuy's, a Tex-Mex full-service dining chain with 103 restaurants, in October 2024.
- Darden utilized $701.1 million for net acquisitions in fiscal year 2024.
Capital Expenditures
- For fiscal year 2026, Darden projects total capital spending between $750 million and $775 million, primarily to support the opening of 65 to 70 new restaurants.
- Capital expenditures totaled $601.2 million in fiscal year 2024, mainly for investments in property, plant, and equipment.
- Historical capital expenditures were $669 million in FY2025, $569 million in FY2023, and $392 million in FY2022.
Peer Outperformance in Restaurants
DRI has outperformed 74% of its 35 Restaurants peers over 5Y. Among the peers that beat it is CAKE. Restaurants ranks 8th of 23 industries in Consumer Discretionary by median 5Y return.
Share of Restaurants constituents that DRI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
73%
of 44 industry peers · 12.6% return
3Y
76%
of 42 industry peers · 62.1% return
5Y
74%
of 35 industry peers · 53.3% return
Restaurants peers with revenue growth within 4pp of DRI's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| DRI | Darden Restaurants | 7.5% | 19.0x | 12.6% | 62.1% | 53.3% | — |
| CAKE | Cheesecake Factory | 4.4% | 28.3x | 112.0% | 300.8% | 168.0% | +115pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Restaurants is DRI's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -16.2% | 87.5% | 87.8% | CVSA 268% · LINC 246% · PRDO 235% |
| Homebuilding | 18 | -4.0% | 34.3% | 47.5% | GRBK 194% · TOL 146% · PHM 145% |
| Specialty Stores | 7 | 12.8% | 39.1% | 19.3% | ASO 41% · SIG 38% · DKS 34% |
| Hotels, Resorts & Cruise Lines | 21 | 11.5% | 34.6% | 10.0% | RCL 229% · MAR 142% · LIND 134% |
| Home Improvement Retail | 5 | -20.4% | 0.3% | -2.3% | HVT 15% · HD -2% · LOW -2% |
| Automotive Retail | 18 | -12.6% | 5.5% | -10.0% | MUSA 235% · PAG 117% · ORLY 113% |
| Footwear | 9 | 71.9% | 48.9% | -11.6% | WEYS 204% · DECK 47% · SHOO 19% |
| Restaurants ← | 36 | -8.2% | -7.8% | -16.3% | EAT 290% · CAKE 168% · BH 116% |
| Specialized Consumer Services | 10 | -13.6% | 12.8% | -16.5% | HRB 108% · FTDR 89% · SCI 36% |
| Distributors | 4 | -9.7% | -28.3% | -17.5% | ARMK 118% · GPC 17% · LKQ -52% |
| Home Furnishings | 4 | -2.1% | 28.1% | -17.8% | SGI 47% · LZB -1% · MHK -35% |
| Apparel Retail | 25 | 8.8% | 16.6% | -36.7% | ANF 268% · URBN 176% · TJX 137% |
| Automotive Parts & Equipment | 38 | -5.3% | -13.7% | -39.4% | MOD 1403% · GTX 269% · MLR 72% |
| Computer & Electronics Retail | 3 | 14.0% | 43.1% | -39.6% | BBY 1% · GME -40% · UPBD -61% |
| Household Appliances | 18 | 7.6% | -3.0% | -40.0% | FLXS 209% · HBB 168% · KEQU 155% |
| Leisure Facilities | 12 | 7.3% | -7.5% | -42.2% | JAKK 159% · LTH 135% · OSW 124% |
| Leisure Products | 13 | -20.4% | -21.2% | -42.3% | GOLF 80% · HAS 30% · MAT -12% |
| Broadline Retail | 14 | -1.6% | 18.5% | -47.2% | EBAY 64% · AMZN 62% · OLLI 40% |
| Casinos & Gaming | 20 | -9.5% | -24.2% | -49.4% | MCRI 91% · RRR 11% · BYD 8% |
| Apparel, Accessories & Luxury Goods | 29 | 4.1% | 14.7% | -51.2% | RL 256% · TPR 244% · ELA 193% |
| Consumer Electronics | 11 | -23.5% | -22.7% | -74.1% | AXIL 2620% · GRMN 93% · SONO -45% |
| Other Specialty Retail | 17 | -29.0% | -39.2% | -77.8% | TLF 99% · BBW 93% · WINA 66% |
| Automobile Manufacturers | 8 | -73.1% | -54.7% | -78.6% | GM 46% · TSLA 42% · F 6% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 153.14 |
| Mkt Cap | 9.4 |
| Rev LTM | 6,019 |
| Op Inc LTM | 559 |
| FCF LTM | 479 |
| FCF 3Y Avg | 379 |
| CFO LTM | 796 |
| CFO 3Y Avg | 682 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.0% |
| Rev Chg 3Y Avg | 7.6% |
| Rev Chg Q | 6.4% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Inc Chg LTM | 9.9% |
| Op Inc Chg 3Y Avg | 11.4% |
| Op Mgn LTM | 9.3% |
| Op Mgn 3Y Avg | 8.9% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 13.1% |
| CFO/Rev 3Y Avg | 12.5% |
| FCF/Rev LTM | 7.0% |
| FCF/Rev 3Y Avg | 6.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 9.4 |
| P/S | 1.5 |
| P/Op Inc | 14.4 |
| P/EBIT | 15.3 |
| P/E | 22.4 |
| P/CFO | 12.9 |
| Total Yield | 5.8% |
| Dividend Yield | 1.8% |
| FCF Yield 3Y Avg | 4.4% |
| D/E | 0.3 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -1.7% |
| 3M Rtn | 0.9% |
| 6M Rtn | 14.5% |
| 12M Rtn | 20.4% |
| 3Y Rtn | 73.8% |
| 1M Excs Rtn | -4.7% |
| 3M Excs Rtn | -2.3% |
| 6M Excs Rtn | -0.1% |
| 12M Excs Rtn | -2.5% |
| 3Y Excs Rtn | -18.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Olive Garden | 5,595 | 5,213 | 5,067 | 4,878 | 4,504 |
| LongHorn Steakhouse | 3,423 | 3,026 | 2,806 | 2,612 | 2,374 |
| Other Business | 2,817 | 2,534 | 2,225 | 2,167 | 1,976 |
| Fine Dining | 1,376 | 1,305 | 1,292 | 831 | 776 |
| Corporate | 0 | 0 | 0 | 0 | |
| Total | 13,211 | 12,077 | 11,390 | 10,488 | 9,630 |
| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Olive Garden | 1,050 | 973 | 942 | 879 | 848 |
| LongHorn Steakhouse | 530 | 492 | 435 | 366 | 354 |
| Other Business | 315 | 231 | 234 | 204 | 200 |
| Fine Dining | 167 | 161 | 175 | 123 | 131 |
| Corporate | 36 | 26 | 7 | 15 | 2 |
| General and administrative expenses | -514 | -520 | -479 | -386 | -373 |
| Total | 1,583 | 1,362 | 1,314 | 1,202 | 1,162 |
| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Other Business | 3,812 | 3,812 | 2,901 | 2,969 | 2,923 |
| Olive Garden | 2,923 | 2,923 | 2,862 | 2,836 | 2,718 |
| Fine Dining | 2,636 | 2,636 | 2,596 | 1,345 | 1,300 |
| LongHorn Steakhouse | 2,244 | 2,244 | 2,026 | 1,978 | 1,911 |
| Corporate | 1,248 | 1,248 | 937 | 1,113 | 1,284 |
| Total | 12,862 | 12,862 | 11,323 | 10,242 | 10,136 |
Price Behavior
Price Behavior
| Market Price | $197.66 | |
| Market Cap ($ Bil) | 22.6 | |
| First Trading Date | 05/09/1995 | |
| Distance from 52W High | -12.5% | |
| 50 Days | 200 Days | |
| DMA Price | $209.65 | $200.96 |
| DMA Trend | up | up |
| Distance from DMA | -5.7% | -1.6% |
| 3M | 1YR | |
| Volatility | 29.5% | 27.2% |
| Downside Capture | 45.76 | 18.45 |
| Upside Capture | 25.20 | 28.07 |
| Correlation (SPY) | 1.3% | 12.0% |
DRI Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.37 | 0.25 | -0.04 | 0.07 | 0.23 | 0.52 |
| Up Beta | 0.80 | -0.26 | -1.27 | 0.38 | 0.08 | 0.64 |
| Down Beta | 0.30 | 2.93 | 0.42 | -0.34 | 0.42 | 0.62 |
| Up Capture | -19% | -6% | 11% | 5% | 15% | 15% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 8 | 21 | 33 | 65 | 124 | 384 |
| Down Capture | 151% | 46% | 50% | 10% | 28% | 60% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 14 | 21 | 31 | 60 | 127 | 366 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DRI | |
|---|---|---|---|---|
| DRI | 9.4% | 27.2% | 0.31 | - |
| Sector ETF (XLY) | -4.0% | 19.4% | -0.34 | 24.5% |
| Equity (SPY) | 16.7% | 13.0% | 0.91 | 11.9% |
| Gold (GLD) | 3.3% | 29.5% | 0.11 | 5.1% |
| Commodities (DBC) | 45.0% | 20.9% | 1.67 | -14.1% |
| Real Estate (VNQ) | 4.8% | 13.8% | 0.09 | 28.1% |
| Bitcoin (BTCUSD) | -33.2% | 44.2% | -0.79 | 3.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DRI | |
|---|---|---|---|---|
| DRI | 8.5% | 27.1% | 0.30 | - |
| Sector ETF (XLY) | 5.4% | 24.1% | 0.18 | 48.6% |
| Equity (SPY) | 13.9% | 17.1% | 0.62 | 45.2% |
| Gold (GLD) | 18.5% | 18.9% | 0.79 | 3.3% |
| Commodities (DBC) | 10.0% | 19.5% | 0.39 | 1.9% |
| Real Estate (VNQ) | 1.3% | 18.8% | -0.04 | 40.9% |
| Bitcoin (BTCUSD) | 11.4% | 52.0% | 0.39 | 21.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DRI | |
|---|---|---|---|---|
| DRI | 15.9% | 36.1% | 0.51 | - |
| Sector ETF (XLY) | 12.1% | 22.2% | 0.50 | 52.8% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 52.4% |
| Gold (GLD) | 11.8% | 16.4% | 0.59 | 1.7% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 16.5% |
| Real Estate (VNQ) | 4.5% | 20.7% | 0.18 | 51.1% |
| Bitcoin (BTCUSD) | 63.5% | 66.2% | 1.03 | 14.5% |
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Returns Analyses
Earnings Returns History
Updated 10/5/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 9/24/2026 | -3.0% | -9.6% | |
| 6/25/2026 | -0.3% | -5.4% | -7.3% |
| 3/19/2026 | 1.8% | 0.5% | 1.0% |
| 12/18/2025 | 1.8% | 0.2% | 11.0% |
| 9/18/2025 | -7.7% | -10.6% | -9.5% |
| 6/20/2025 | 1.4% | -3.0% | -5.4% |
| 3/20/2025 | 5.8% | 10.3% | 7.2% |
| 12/19/2024 | 14.7% | 18.0% | 17.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 14 |
| # Negative | 12 | 12 | 9 |
| Median Positive | 2.5% | 2.3% | 4.7% |
| Median Negative | -2.6% | -3.5% | -5.0% |
| Max Positive | 14.7% | 18.0% | 17.0% |
| Max Negative | -7.7% | -10.6% | -11.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 9/24/2026 | -3.0% | -9.6% | |
| 6/25/2026 | -0.3% | -5.4% | -7.3% |
| 3/19/2026 | 1.8% | 0.5% | 1.0% |
| 12/18/2025 | 1.8% | 0.2% | 11.0% |
| 9/18/2025 | -7.7% | -10.6% | -9.5% |
| 6/20/2025 | 1.4% | -3.0% | -5.4% |
| 3/20/2025 | 5.8% | 10.3% | 7.2% |
| 12/19/2024 | 14.7% | 18.0% | 17.0% |
| 9/19/2024 | 8.3% | 5.6% | 4.1% |
| 6/20/2024 | 1.5% | 0.1% | -5.0% |
| 3/21/2024 | -6.5% | -4.4% | -11.9% |
| 12/15/2023 | -0.4% | -0.5% | -2.5% |
| 9/21/2023 | -2.7% | -5.4% | -3.9% |
| 6/22/2023 | -2.6% | -2.6% | 3.2% |
| 3/23/2023 | -0.4% | 2.4% | 1.3% |
| 12/16/2022 | -2.1% | -3.9% | 3.4% |
| 9/22/2022 | -4.4% | -2.7% | 1.6% |
| 6/23/2022 | 0.4% | -1.1% | 6.5% |
| 3/24/2022 | 1.1% | 0.5% | 3.3% |
| 12/17/2021 | -5.0% | 1.2% | -4.6% |
| 9/23/2021 | 6.1% | 2.2% | -2.4% |
| 6/24/2021 | 3.2% | 7.8% | 7.5% |
| 3/25/2021 | 8.2% | 6.0% | 8.1% |
| 12/18/2020 | -2.1% | -0.6% | 5.3% |
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 14 |
| # Negative | 12 | 12 | 9 |
| Median Positive | 2.5% | 2.3% | 4.7% |
| Median Negative | -2.6% | -3.5% | -5.0% |
| Max Positive | 14.7% | 18.0% | 17.0% |
| Max Negative | -7.7% | -10.6% | -11.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 08/31/2026 | 10/02/2026 | 10-Q |
| 05/31/2026 | 07/24/2026 | 10-K |
| 02/28/2026 | 03/27/2026 | 10-Q |
| 11/30/2025 | 12/30/2025 | 10-Q |
| 08/31/2025 | 09/26/2025 | 10-Q |
| 05/31/2025 | 07/18/2025 | 10-K |
| 02/28/2025 | 04/01/2025 | 10-Q |
| 11/30/2024 | 01/02/2025 | 10-Q |
| 08/31/2024 | 09/27/2024 | 10-Q |
| 05/31/2024 | 07/19/2024 | 10-K |
| 02/29/2024 | 04/02/2024 | 10-Q |
| 11/30/2023 | 01/03/2024 | 10-Q |
| 08/31/2023 | 09/29/2023 | 10-Q |
| 05/31/2023 | 07/21/2023 | 10-K |
| 02/28/2023 | 04/04/2023 | 10-Q |
| 11/30/2022 | 01/04/2023 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 08/31/2026 | 10/02/2026 | 10-Q |
| 05/31/2026 | 07/24/2026 | 10-K |
| 02/28/2026 | 03/27/2026 | 10-Q |
| 11/30/2025 | 12/30/2025 | 10-Q |
| 08/31/2025 | 09/26/2025 | 10-Q |
| 05/31/2025 | 07/18/2025 | 10-K |
| 02/28/2025 | 04/01/2025 | 10-Q |
| 11/30/2024 | 01/02/2025 | 10-Q |
| 08/31/2024 | 09/27/2024 | 10-Q |
| 05/31/2024 | 07/19/2024 | 10-K |
| 02/29/2024 | 04/02/2024 | 10-Q |
| 11/30/2023 | 01/03/2024 | 10-Q |
| 08/31/2023 | 09/29/2023 | 10-Q |
| 05/31/2023 | 07/21/2023 | 10-K |
| 02/28/2023 | 04/04/2023 | 10-Q |
| 11/30/2022 | 01/04/2023 | 10-Q |
| 08/31/2022 | 10/04/2022 | 10-Q |
| 05/31/2022 | 07/22/2022 | 10-K |
| 02/28/2022 | 04/05/2022 | 10-Q |
| 11/30/2021 | 01/05/2022 | 10-Q |
| 08/31/2021 | 10/05/2021 | 10-Q |
| 05/31/2021 | 07/23/2021 | 10-K |
| 02/28/2021 | 04/06/2021 | 10-Q |
| 11/30/2020 | 01/06/2021 | 10-Q |
| 08/31/2020 | 10/06/2020 | 10-Q |
| 05/31/2020 | 07/24/2020 | 10-K |
| 02/29/2020 | 03/31/2020 | 10-Q |
| 11/30/2019 | 01/02/2020 | 10-Q |
Recent Forward Guidance
Updated 9/25/2026Latest: Q1 2027 Earnings Reported 9/24/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2027 Dividends | Reported | 1.62 | ||||||
| 2027 Diluted Net Earnings Per Share from Continuing Operations | Reported | 11.1 | 11.23 | 11.35 | 0.0% | Affirmed | Guidance: 11.23 for 2027 | |
Prior: Q4 2026 Earnings Reported 6/25/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 New restaurant openings | Reported | 75 | 77.5 | 80 | 10.7% | Raised | Guidance: 70 for 2026 | |
| 2027 Total capital spending | Reported | 875.00 Mil | 14.8% | Raised | Guidance: 762.50 Mil for 2026 | |||
| 2027 Total inflation | Reported | 0.03 | -0.5% | Lowered | Guidance: 0.04 for 2026 | |||
| 2027 Total Sales | Reported | 13.60 Bil | 13.68 Bil | 13.75 Bil | ||||
| 2027 Same-restaurant sales growth | Reported | 2.5% | 3.0% | 3.5% | -1.5% | Lowered | Guidance: 4.5% for 2026 | |
| 2027 EBITDA | Reported | 2.26 Bil | 2.27 Bil | 2.29 Bil | ||||
| 2027 Effective tax rate | Reported | 13.5% | 1.0% | Raised | Guidance: 12.5% for 2026 | |||
| 2027 Diluted net earnings per share | Reported | 11.1 | 11.23 | 11.35 | 5.7% | Raised | Guidance: 10.62 for 2026 | |
Q3 2026 Earnings Reported 3/19/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 New restaurant openings | Reported | 70 | 3.7% | Raised | Guidance: 67.5 for 2026 | |||
| 2026 Total capital spending | Reported | 750.00 Mil | 762.50 Mil | 0 | Affirmed | Guidance: 762.50 Mil for 2026 | ||
| 2026 Total inflation | Reported | 0.04 | 0 | Affirmed | Guidance: 0.04 for 2026 | |||
| 2026 Total Sales Growth | Reported | 9.5% | 0.6% | Raised | Guidance: 8.9% for 2026 | |||
| 2026 Same-restaurant sales growth | Reported | 4.5% | 0.6% | Raised | Guidance: 3.9% for 2026 | |||
| 2026 Effective tax rate | Reported | 12.5% | -0.5% | Lowered | Guidance: 13.0% for 2026 | |||
| 2026 Adjusted diluted net earnings per share | Reported | 10.57 | 10.62 | 10.67 | 0.2% | Raised | Guidance: 10.6 for 2026 | |
| 2026 Weighted average diluted shares outstanding | Reported | 116.50 Mil | 0 | Affirmed | Guidance: 116.50 Mil for 2026 | |||
Q2 2026 Earnings Reported 12/18/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 New restaurant openings | Reported | 65 | 67.5 | 70 | 3.8% | Raised | Guidance: 65 for 2026 | |
| 2026 Total capital spending | Reported | 750.00 Mil | 762.50 Mil | 775.00 Mil | 5.2% | Raised | Guidance: 725.00 Mil for 2026 | |
| 2026 Total inflation | Reported | 0.04 | 0.2% | Raised | Guidance: 0.03 for 2026 | |||
| 2026 Total sales growth | Reported | 8.5% | 8.9% | 9.3% | 0.9% | Raised | Guidance: 8.0% for 2026 | |
| 2026 Same-restaurant sales growth | Reported | 3.5% | 3.9% | 4.3% | 0.9% | Raised | Guidance: 3.0% for 2026 | |
| 2026 Effective tax rate | Reported | 13.0% | ||||||
| 2026 Adjusted diluted net earnings per share from continuing operations | Reported | 10.5 | 10.6 | 10.7 | 0 | Affirmed | Guidance: 10.6 for 2026 | |
| 2026 Weighted average diluted shares outstanding | Reported | 116.50 Mil | ||||||
Insider Activity
Updated 10/8/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Martin, Melvin John | Group President | Direct | Sell | 10082026 | 202.61 | 2,209 | 447,565 | 4,368,284 | Form |
| 2 | Wilkerson, John W | President, Olive Garden | Direct | Sell | 8062026 | 208.33 | 8,864 | 1,846,637 | 3,915,290 | Form |
| 3 | Williamson, Laura B | President, LongHorn Steakhouse | Direct | Sell | 8042026 | 204.32 | 1,110 | 226,792 | 2,197,310 | Form |
| 4 | Williamson, Laura B | President, LongHorn Steakhouse | Spouse | Sell | 8042026 | 204.89 | 443 | 90,768 | 1,134,256 | Form |
| 5 | Vennam, Rajesh | SVP, CFO | Direct | Sell | 7302026 | 210.00 | 8,478 | 1,780,380 | 1,799,595 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Martin, Melvin John | Group President | Direct | Sell | 10082026 | 202.61 | 2,209 | 447,565 | 4,368,284 | Form |
| 2 | Wilkerson, John W | President, Olive Garden | Direct | Sell | 8062026 | 208.33 | 8,864 | 1,846,637 | 3,915,290 | Form |
| 3 | Williamson, Laura B | President, LongHorn Steakhouse | Direct | Sell | 8042026 | 204.32 | 1,110 | 226,792 | 2,197,310 | Form |
| 4 | Williamson, Laura B | President, LongHorn Steakhouse | Spouse | Sell | 8042026 | 204.89 | 443 | 90,768 | 1,134,256 | Form |
| 5 | Vennam, Rajesh | SVP, CFO | Direct | Sell | 7302026 | 210.00 | 8,478 | 1,780,380 | 1,799,595 | Form |
| 6 | Connelly, Susan M | SVP, Chief Comm & PA Officer | Direct | Sell | 7302026 | 208.17 | 2,226 | 463,389 | 867,095 | Form |
| 7 | King, Sarah H | SVP, Chief People Officer | Direct | Sell | 7302026 | 210.42 | 4,373 | 920,165 | 156,304 | Form |
| 8 | Cardenas, Ricardo | President and CEO | Direct | Sell | 7302026 | 209.06 | 39,134 | 8,181,504 | 18,010,010 | Form |
| 9 | Connelly, Susan M | SVP, Chief Comm & PA Officer | Direct | Sell | 7082026 | 206.21 | 9,930 | 2,047,676 | 858,931 | Form |
| 10 | Milanes, Douglas J | SVP, Chief Supply Chain Ofcr | Direct | Sell | 4212026 | 202.16 | 3,620 | 731,837 | 55,388 | Form |
| 11 | Martin, Melvin John | Group President | Direct | Sell | 4072026 | 196.04 | 5,091 | 998,040 | 3,385,642 | Form |
| 12 | Simon, William S | Direct | Sell | 3242026 | 200.64 | 2,333 | 468,082 | 1,260,189 | Form | |
| 13 | King, Sarah H | SVP, Chief People Officer | Direct | Sell | 1262026 | 206.65 | 4,605 | 951,636 | 138,617 | Form |
| 14 | Vennam, Rajesh | SVP, CFO | Direct | Sell | 1162026 | 214.12 | 6,774 | 1,450,419 | 1,935,622 | Form |
| 15 | Connelly, Susan M | SVP, Chief Comm & PA Officer | Direct | Sell | 1152026 | 207.36 | 2,635 | 546,394 | 849,733 | Form |
| 16 | Burrowes, Todd | Group President | Direct | Sell | 1142026 | 207.12 | 7,103 | 1,471,165 | 9,165,468 | Form |
| 17 | Martin, Melvin John | Group President | Direct | Sell | 10152025 | 184.58 | 1,700 | 313,786 | 3,393,748 | Form |
| 18 | Broad, Matthew R | SVP General Counsel | Direct | Sell | 10082025 | 193.40 | 5,661 | 1,094,865 | 2,691,374 | Form |
Investor Activity (13F)
Updated Oct 12, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
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Products & Services
Charlotte is Booming || Olive Garden Ground Lease Review || 1031 Doctor
Investor / Analyst
MU, DRI, NKE: Charting This Week's Earnings
Products & Services
Cracker Barrel’s results are in, Olive Garden shrinks its portions, and Starbucks is getting sued
Leadership
Get to Know Darden's CEO Rick Cardenas
Investor / Analyst
Meyers: DRI Affordability Focus & Consumer "Trade Up" Offer Stock Strength
Investor / Analyst
The most satisfying restaurant chains, Darden’s impressive results, and what to make of MAHA
Investor / Analyst
"Very Bullish" on Chuy's (CHUY) Acquisition for Darden Restaurants (DRI)
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Restaurants Resources |
| Nation's Restaurant News |
| Restaurant Business |
| QSR Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 10/11/2026