Darden Restaurants, Inc. Revenue in 2024

Darden Restaurants, Inc. reported $11.8B in revenue for fiscal year 2024. This represents a growth of 11.4% compared to the 2023 figure of $10.6B.

Darden grew revenue from $7.86 billion in fiscal 2021 to $11.77 billion in fiscal 2024 — a 50% increase over three years that reflects both organic recovery from pandemic-era lows and the impact of the Ruth's Chris acquisition. Net income of $950 million on nearly $12 billion in revenue puts the net margin at approximately 8%, which is competitive for a large-scale restaurant operator. The $21 billion market capitalization on $11.77 billion in revenue implies a multiple that reflects consistent execution and dividend payments rather than growth-stock premium. Darden has treated shareholders to reliable capital returns — buybacks and dividends — rather than aggressive expansion that might sacrifice margin. Over 70% of total revenue now comes from premium casual and fine-dining segments, a notable shift from the company's historical dependence on high-volume, lower-margin formats. That repositioning took years of portfolio management and represented a deliberate choice to chase check average rather than cover count. The Olive Garden breadstick-and-never-ending-pasta model generates predictable revenue but limited pricing power in an inflationary environment. LongHorn Steakhouse has been the growth engine — same-store sales performance has consistently outpaced the Olive Garden brand for several years. The question investors now ask is whether Darden can sustain the margin profile of Ruth's Chris while integrating it into a company built around completely different operational economics.