Darden Restaurants
DRI · Restaurants
$212.40
2.4%Restaurant Brands International
QSR · Restaurants
$75.34
1.4%The short version
- Darden Restaurants is the larger business, with $13.2B of revenue in fiscal 2026 against $9.4B for Restaurant Brands International.
- Restaurant Brands International grew revenue faster (12.2%, against 9.4%).
- Restaurant Brands International kept more of each dollar of sales as operating profit (23.3% operating margin, against 12.0% operating margin).
- Restaurant Brands International turned more of its sales into free cash flow (15.4% FCF margin, against 8.5% FCF margin).
- Darden Restaurants earned a higher return on the capital invested in it (24.8%, against 9.0%).
- Investors pay more for each dollar of Darden Restaurants’s earnings: a P/E of 20.8x against 20.3x for Restaurant Brands International.
| Latest fiscal year | DRI · FY26 | QSR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $24.3B | $34.7B |
| Revenue | $13.2B | $9.4B |
| Free cash flow | $1.1B | $1.4B |
| Net income | $1.2B | $1.1B |
| Growth | ||
| Revenue growth | 9.4% | 12.2% |
| 5-year growth | 12.9% | 13.7% |
| Share count change | −1.8% | 0.7% |
| Profitability | ||
| Gross margin | 20.3% | — |
| Operating margin | 12.0% | 23.3% |
| Net margin | 9.1% | 11.4% |
| FCF margin | 8.5% | 15.4% |
| Return on capital | 24.8% | 9.0% |
| Return on equity | 53.4% | 31.9% |
| Balance sheet | ||
| Net debt | $3.2B | $12.4B |
| Net debt / EBITDA | 1.5x | 5.0x |
| Dividends and buybacks | $1.4B | $1.1B |
| Valuation & quality | ||
| P/E | 20.8x | 20.3x |
| Piotroski F-score | 6 | 6 |
FY17
DRI $7.2B
QSR $4.6B
FY18
DRI $8.1B
QSR $5.4B
FY19
DRI $8.5B
QSR $5.6B
FY20
DRI $7.8B
QSR $5.0B
FY21
DRI $7.2B
QSR $5.7B
FY22
DRI $9.6B
QSR $6.5B
FY23
DRI $10.5B
QSR $7.0B
FY24
DRI $11.4B
QSR $8.4B
FY25
DRI $12.1B
QSR $9.4B
FY26
DRI $13.2B
QSR —
DRI
QSR
FY17
DRI 9.5%
QSR 37.9%
FY18
DRI 9.5%
QSR 35.8%
FY19
DRI 9.8%
QSR 35.8%
FY20
DRI 0.6%
QSR 28.6%
FY21
DRI 9.0%
QSR 32.7%
FY22
DRI 12.1%
QSR 29.2%
FY23
DRI 11.5%
QSR 29.2%
FY24
DRI 11.5%
QSR 28.8%
FY25
DRI 11.3%
QSR 23.3%
FY26
DRI 12.0%
QSR —
DRI
QSR
FY17
DRI $623M
QSR $1.4B
FY18
DRI $624M
QSR $1.1B
FY19
DRI $816M
QSR $1.4B
FY20
DRI $258M
QSR $804M
FY21
DRI $939M
QSR $1.6B
FY22
DRI $888M
QSR $1.4B
FY23
DRI $988M
QSR $1.2B
FY24
DRI $1.0B
QSR $1.3B
FY25
DRI $1.1B
QSR $1.4B
FY26
DRI $1.1B
QSR —
DRI
QSR
FY17
DRI 20.8%
QSR 13.4%
FY18
DRI 26.5%
QSR 10.6%
FY19
DRI 26.2%
QSR 10.4%
FY20
DRI 1.3%
QSR 8.8%
FY21
DRI 20.8%
QSR 11.1%
FY22
DRI 29.8%
QSR 11.7%
FY23
DRI 27.7%
QSR 12.4%
FY24
DRI 26.2%
QSR 11.3%
FY25
DRI 22.6%
QSR 9.0%
FY26
DRI 24.8%
QSR —
DRI
QSR
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