Darden Restaurants Inc. (DRI) intrinsic value & 10-year financials
Darden Restaurants Inc. (DRI) has a Graham intrinsic value of $219.40 per share. At $216.35 on Oct 17, 2026, the stock trades 1% below that value. Over the last 10 fiscal years revenue grew 7.0% a year to $13.2B, with an average return on invested capital of 15.0%.
- Graham intrinsic value
- $219.40
- Share price (Oct 17, 2026)
- $216.35
- Price vs Graham value
- 1% below
- Market cap
- $25.2B
- Revenue (FY2026)
- $13.2B
- Revenue growth (10-yr CAGR)
- 7.0%
- ROIC (10-yr avg)
- 15.0%
- Free cash flow (FY2026)
- $1.1B
DRI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $13.2B | $1.2B | $10.38 | $1.1B | 12.0% | 14.3% |
| FY2025 | $12.1B | $1.0B | $8.86 | $1.1B | 11.3% | 13.3% |
| FY2024 | $11.4B | $1.0B | $8.51 | $1.0B | 11.5% | 14.3% |
| FY2023 | $10.5B | $981.9M | $7.99 | $987.9M | 11.5% | 14.1% |
| FY2022 | $9.6B | $952.8M | $7.39 | $887.7M | 12.1% | 13.9% |
| FY2021 | $7.2B | $629.3M | $4.77 | $938.6M | 9.0% | 8.9% |
| FY2020 | $7.8B | -$52.4M | -$0.43 | $257.5M | 0.6% | 0.5% |
| FY2019 | $8.5B | $713.4M | $5.69 | $815.6M | 9.8% | 26.2% |
| FY2018 | $8.1B | $596.0M | $4.73 | $623.8M | 9.5% | 26.5% |
| FY2017 | $7.2B | $479.1M | $3.80 | $625.2M | 9.4% | 18.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Darden Restaurants has demonstrated mature, steady growth, with revenue compounding at 7.0% annually over the past decade.
Darden Restaurants returns on capital have been average, hovering around 15.0% ROIC over the decade.
Over the decade, Darden Restaurants shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Darden Restaurants is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $219.40 per share.