Macroeconomic conditionsmixed · 5 filings
“Food and beverage inflation is principally due to increased costs incurred by our vendors related to higher labor, transportation, tariffs, packaging, and raw materials costs.”10-K · Jul 24, 2026 ↗
Darden Restaurants, Inc.
DRI
Market read
Darden Restaurants, Inc.'s current read is isolated; its market group is not confirming.
The latest filing is mixed. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
What changed
- Revenue increased 5.9% versus the comparable filing period.
- Operating margin fell 1.1 percentage points.
Company-0.5% todayVolume comparison unavailable
Market group0 of 3 activeFull-Service Restaurants · unavailable
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Food and beverage costs increased as a percentage of sales with a reported 1.2% impact from inflation, partially offset by 0.9% pricing leverage.
- Restaurant labor costs remained flat as a percentage of sales in fiscal 2026 with component impacts quantified (sales leverage 1.0%, productivity 0.1%, inflation 1.0%, performance-based comp 0.1%).
Invalidation: The isolated read changes if DRI's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing is mixed. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 5.9% versus the comparable filing period.
Evidence that challenges
- Operating margin fell 1.1 percentage points.
- Net margin fell 1.1 percentage points.
What would clarify the read
- Food and beverage costs increased as a percentage of sales with a reported 1.2% impact from inflation, partially offset by 0.9% pricing leverage.
- Restaurant labor costs remained flat as a percentage of sales in fiscal 2026 with component impacts quantified (sales leverage 1.0%, productivity 0.1%, inflation 1.0%, performance-based comp 0.1%).
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements86
Verified relationships3
Evidence supporting the case
- Latest annual revenue changed +9.4% year over year.
- Capital investment and capacity has repeated favorable evidence across 3 filings.
Evidence challenging the case
- Input and raw-material costs has repeated adverse evidence across 3 filings.
- Labor availability and costs has repeated adverse evidence across 3 filings.
Questions before a position
- P/E is 23% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 17% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
207.806m+2.1%12m-1.9%24m+31.6%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-05-29$9.6B+33.8%$7.39-2.1%
2023-05-28$10.5B+8.9%$7.99-4.7%
2024-05-26$11.4B+8.6%$8.51-1.7%
2025-05-25$12.1B+6.0%$8.86-2.0%
2026-05-31$13.2B+9.4%$10.38-1.8%
What management says matters
Persistent and emerging business drivers
Capital investment and capacitypositive · 3 filings
“Capital expenditures increased to $540.9 million for the first nine months of fiscal 2026 from $472.6 million for the first nine months of fiscal 2025, reflecting an increase in new restaurant construction and remodel spend during fiscal 2026.”10-Q · Mar 27, 2026 ↗
Input and raw-material costsmixed · 3 filings
“The decrease in Longhorn Steakhouse’s segment profit margin for the third quarter of fiscal 2026 was driven by higher food and beverage costs and restaurant expenses, partially offset by lower restaurant labor costs.”10-Q · Mar 27, 2026 ↗
Labor availability and costsmixed · 3 filings
“The decrease in Longhorn Steakhouse’s segment profit margin for the third quarter of fiscal 2026 was driven by higher food and beverage costs and restaurant expenses, partially offset by lower restaurant labor costs.”10-Q · Mar 27, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.8× · EV/sales 1.9×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
208.32-0.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 11:20 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for DRI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing presents a mixed picture
10-Q filed 2026-03-27 against the comparable filing from 2025-04-01.
OperationsmixedEvidence score 0
liquidityneutralEvidence score 0
valuationdiscount
What improved
- Revenue increased 5.9% versus the comparable filing period.
What weakened
- Operating margin fell 1.1 percentage points.
- Net margin fell 1.1 percentage points.
Filing receipts
“Restaurant labor costs decreased as a percent of sales primarily due to a 1.2% impact from pricing and sales leverage and a 0.1% impact from productivity, partially offset by a 1.0% impact from inflation and a 0.1% impact from higher performance-based compensation expense.”
“Restaurant labor costs increased as a percent of sales primarily due to a 1.0% impact from inflation and a 0.1% impact from higher performance-based compensation expense, partially offset by a 1.0% impact from pricing and sales leverage and a 0.1% impact from productivity.”
“.3 % 10.3 % 8.5 % 8.5 % Three Months Ended February 22, 2026 Compared to Three Months Ended February 23, 2025 • Food and beverage costs increased as a percent of sales primarily due to a 1.5% impact from inflation and a 0.2% impact from menu mix, partially offset by a 1.0% impact from pricing leverage and a 0.2% impact from cost saving initiatives.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind DRI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
UBERUber Technologies, Inc.partnerDec 30, 2025 ▾
“Restaurant expenses increased as a percent of sales primarily due to a 0.5% impact from inflation, a 0.2% impact from Uber direct fees and a 0.2% impact from brand mix, partially offset by a 0.6% impact from sales leverage and a 0.2% impact from other.”
GISGeneral Mills, Inc.investeeJul 18, 2025 ▾
“We were acquired by General Mills, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
DRI is currently a Early Follower in the organic co-movement group Full-Service Restaurants. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.