Darden Restaurants (DRI) FY2022 results: revenue $9.6 billion, up 33.8% on the year
Darden Restaurants Inc. (DRI) reported revenue of $9.6 billion for fiscal 2022, the year ended 29 May 2022, up 33.8% on the year before. Net income was $953 million, up 51.4%, and diluted earnings per share $7.39. The figures are the company's own, from the 10-K it filed with the SEC on 22 July 2022.
Revenue
$9.6 billion
+33.8% on the year
FY2015FY2022
Operating margin
12.1%
9.0% a year earlier
FY2015FY2022
Net income
$953 million
+51.4% on the year
FY2015FY2022
Diluted EPS
$7.39
+54.9% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,256
1,194
711
+5.2%
Capital expenditure
377
255
460
+47.9%
Free cash flow
879
939
251
-6.4%
Free cash flow margin
9.1%
13.1%
3.2%
Cash from investing
-389
-264
-544
Cash from financing
-1,610
-479
139
Depreciation and amortisation
368
351
356
+5.0%
Share-based compensation
60.5
72.4
53.0
-16.4%
Buybacks
1,071
45.4
330
+2,259.7%
Dividends paid
563
203
322
+177.9%
Dividend per share
$4.40
$1.55
$2.64
+183.9%
Diluted shares, weighted
129m
132m
123m
-2.1%
Shares outstanding at period end
124m
131m
130m
-5.3%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,198
2,813
2,331
-21.9%
Short-term borrowings
0.0
0.0
n/a
Debt
901
930
1,199
-3.1%
Operating lease liabilities
3,756
4,088
4,276
-8.1%
Finance lease liabilities
1,019
555
368
+83.4%
Other liabilities
2,262
2,269
1,771
-0.3%
Total liabilities and equity
10,136
10,656
9,946
-4.9%
Fixed assets
n/a
n/a
2,757
Goodwill
1,037
1,037
1,037
0.0%
Intangible assets
13.3
15.3
17.4
-13.1%
Cash and equivalents
421
1,215
763
-65.4%
Receivables
72.0
68.2
49.8
+5.6%
Inventory
271
191
207
+41.8%
Other assets
8,322
8,130
5,114
+2.4%
Total assets
10,136
10,656
9,946
-4.9%
10-K for the year ended 29 May 2022, filed 22 July 2022: the filing.