Darden Restaurants Inc (NYSE: DRI) is a full-service restaurant company that owns and operates a portfolio of sit-down dining brands across the United States and Canada. Revenue is transactional, generated entirely from guest food and beverage purchases at company-operated restaurants. Darden reported $12.1B in sales for the fiscal year ended May 25, 2025, up 6.0% from $11.4B in the fiscal year ended May 26, 2024. The company operates in the full-service segment of the restaurant industry, which it describes as highly fragmented with many independent operators and small chains. Brands include Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, The Capital Grille, Ruth's Chris Steak House, Yard House, Eddie V's Prime Seafood, Bahama Breeze, and The Capital Burger. Operating income was $1.36B in FY2025. The company carries $2.19B in long-term debt and $3.07B in lease obligations as of May 25, 2025, making it a debt-and-lease-heavy operator. Darden pays dividends and repurchases common stock.

Revenue model

Transactional revenue from food and beverage sales at company-operated full-service restaurants. No disclosed franchise or licensing revenue stream. Food and beverage costs were $3.66B and restaurant labor was $3.83B in FY2025, together representing the two largest cost categories against $12.1B in total sales.

Products and services

Full-service restaurant dining across multiple brands: Olive Garden (Italian-American casual dining), LongHorn Steakhouse (casual steakhouse), Cheddar's Scratch Kitchen, The Capital Grille (upscale steakhouse), Ruth's Chris Steak House (upscale steakhouse), Yard House, Eddie V's Prime Seafood (average check approximately $123 per person in FY2025, with alcoholic beverages at 27.3% of sales), Bahama Breeze (Caribbean-inspired, average check approximately $35 per person in FY2025, alcoholic beverages at 20.5% of sales), and The Capital Burger (development-stage). Entrée prices at Eddie V's range from $41 to $116; at Bahama Breeze from $10.50 to $39.00.

Customers and end markets

Individual dining guests across casual, polished casual, and fine dining occasions. No disclosed customer concentration. End demand is driven by consumer discretionary spending on full-service restaurant meals in the United States and Canada.

Value-chain role

Vertically integrated restaurant operator. Darden manages brand strategy, supply chain, talent management, restaurant operations, and information technology centrally, with individual brands operating under shared infrastructure. The company describes its scale in supply chain and data-driven customer relations as sources of operational differentiation.

Geographic exposure

Primarily the United States, with Canadian operations also mentioned. Bahama Breeze operates primarily in the eastern United States. No further country-level revenue breakdown is disclosed in the filing excerpts.

Source: SEC 10-K, filed 2025-07-18

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