A Business at a Glance
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DOMINOS PIZZA INC
DPZ
$11.4B
Mkt Cap
$332.97
+3.01%
DOMINOS PIZZA INC (DPZ) has a current P/E ratio of 19.0, compared to its historical median P/E of 27.1. The stock is currently considered Cheap based on its historical valuation range.
DOMINOS PIZZA INC (DPZ) has a 5-year average return on invested capital (ROIC) of 77.4%. This indicates strong capital allocation and a potential competitive advantage.
DOMINOS PIZZA INC (DPZ) has a market capitalization of $11.2B. It is classified as a large-cap stock.
Yes, DOMINOS PIZZA INC (DPZ) pays a dividend with a trailing twelve-month yield of 2.12%. The company also returns capital through share buybacks, with a buyback yield of 3.19%.
Based on historical P/E analysis, DOMINOS PIZZA INC (DPZ) appears cheap. The current P/E of 19.0 is 30% below its historical median of 27.1. The estimated fair value CAGR (P/E method) is 7.6%.
DOMINOS PIZZA INC (DPZ) operates in the Wholesale-Groceries & Related Products industry, within the Consumer Defensive sector.
DOMINOS PIZZA INC (DPZ) reported annual revenue of $4.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
Domino's is the world's largest pizza company with over 22,100 locations across 90+ markets, operating as a highly asset-light franchisor with approximately 99% of stores owned and operated by independent franchisees. The company generates revenues through royalty fees (typically 5.5% of franchisee sales), technology fees, and supply chain operations selling food and products primarily to U.S. and Canadian franchisees, while also operating a smaller network of U.S. Company-owned stores used for testing innovations and training. The business model emphasizes convenience through both delivery and carryout service channels, with stores typically built in a carryout-friendly "Pizza Theater" design that minimizes capital requirements and staffing costs. Domino's competes primarily on product quality, location, service, technology, convenience, and price against national chains like Pizza Hut, Papa John's, and Little Caesars, as well as regional and independent establishments, and has achieved approximately 23.3% market share in the U.S. QSR pizza category as of December 2025. The company's franchisees benefit from brand recognition, proven operating systems, and strong unit economics, with the average U.S. franchisee operating approximately nine stores and having been in the system for over 15 years, while international operations are primarily conducted through master franchise agreements that generate royalty revenues with minimal cost of sales.
【Macro headwinds moderating growth】 Management expects continued same-store sales growth in 2026 despite a challenging macro environment, with U.S. comps guided to low single digits and international comps to low single digits, though the company maintains confidence in its long-term algorithm through 2028. The company anticipates meaningful contributions from new initiatives including the Parmesan Stuffed Crust Pizza and expanded DoorDash rollout, which is expected to drive incremental sales in the second half of 2026 as awareness and marketing spend increases. Supply chain margins are expected to grow year-over-year driven by procurement productivity, though the company expects less productivity gains moving forward than in recent years, while the company continues to expect operating income growth of mid- to high-single digits excluding foreign currency impacts. Management remains focused on delivering net store growth of 175+ stores in the U.S. and approximately 800 stores internationally, with confidence that competitor store closures will translate into market share gains for Domino's franchisees.
| Metric | Target | Period |
|---|---|---|
| U.S. same-store sales | low single digits | FY2026 |
| International same-store sales | low single digits | FY2026 |
| U.S. net store growth | 175+ | FY2026 |
| International net store growth | approximately 800 | FY2026 |
| Global retail sales growth | mid-single digits | FY2026 |
| Operating income growth | mid- to high-single digits | FY2026 |
U.S. same-store sales (FY2026): “we now expect our U.S. comp to be up low single digits in 2026”
International same-store sales (FY2026): “we now expect our international same-store sales growth to be low single digits, primarily as a result of the macro and geopolitical uncertainty across the world”
U.S. net store growth (FY2026): “we continue to expect 175+ net stores in the U.S.”
International net store growth (FY2026): “approximately 800 net stores in our international business”
Global retail sales growth (FY2026): “we now believe our global retail sales growth will be up mid-single digits for the year”
Operating income growth (FY2026): “we now expect operating income growth of mid- to high-single digits, excluding the impact of foreign currency, refranchising gains, and the gain on the sale of our corporate aircraft”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call, Q1 FY2026 Earnings Call, Q4 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.9B | 4.9B | 4.7B | 4.5B | 4.4B | 4.1B |
| Net Income | 602M | 602M | 584M | 519M | 510M | 491M |
| EPS | $17.57 | $17.57 | $16.69 | $14.66 | $13.54 | $12.39 |
| Free Cash Flow | 672M | 672M | 512M | 485M | 560M | 504M |
| ROIC | 96.6% | 75.2% | 40.9% | 78.3% | 93.7% | 98.9% |
| Gross Margin | 40.0% | 40.0% | 39.3% | 38.6% | 38.7% | 38.7% |
| Debt/Equity | 0.00 | -1.29 | -1.02 | -1.28 | -1.20 | -1.25 |
| Dividends/Share | $7.04 | $6.96 | $6.04 | $4.84 | $3.76 | $3.12 |
| Operating Income | 954M | 954M | 879M | 820M | 780M | 726M |
| Operating Margin | 19.3% | 19.3% | 18.7% | 18.3% | 17.9% | 17.6% |
| ROE | 0.0% | -15.3% | -14.5% | -12.5% | -13.6% | -14.9% |
| Shares Outstanding | 34M | 34M | 35M | 35M | 38M | 40M |
| Metric | 2015 | 2020 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.0B | 2.2B | 2.2B | 2.8B | 3.4B | 3.6B | 4.1B | 4.1B | 4.4B | 4.5B | 4.7B | 4.9B | 4.9B |
| Gross Margin | 29.8% | 30.8% | 30.8% | 31.1% | 37.9% | 38.8% | 38.7% | 38.7% | 38.7% | 38.6% | 39.3% | 40.0% | 40.0% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 249M | 278M | 278M | 345M | 372M | 382M | 407M | 407M | 428M | 435M | 459M | 464M | 464M |
| EBIT | 345M | 405M | 405M | 521M | 572M | 629M | 726M | 726M | 780M | 820M | 879M | 954M | 954M |
| Op. Margin | 17.3% | 18.3% | 18.3% | 18.7% | 16.7% | 17.4% | 17.6% | 17.6% | 17.9% | 18.3% | 18.7% | 19.3% | 19.3% |
| Net Income | 163M | 193M | 193M | 278M | 362M | 401M | 491M | 491M | 510M | 519M | 584M | 602M | 602M |
| Net Margin | 8.2% | 8.7% | 8.7% | 10.0% | 10.5% | 11.1% | 11.9% | 11.9% | 11.7% | 11.6% | 12.4% | 12.2% | 12.2% |
| Non-Recurring | 1.7M | 0 | 700K | 4.0M | 5.9M | -300K | 0 | -2.9M | -1.2M | -1.3M | -1.5M | -1.9M | -1.9M |
| Returns on Capital | |||||||||||||
| ROIC | 94.7% | 88.0% | 83.1% | 114.8% | 113.7% | 45.6% | 75.6% | 98.9% | 93.7% | 78.3% | 40.9% | 75.2% | 96.6% |
| ROE | -13.0% | -10.7% | -10.7% | -12.3% | -12.5% | -12.4% | -14.9% | -14.9% | -13.6% | -12.5% | -14.5% | -15.3% | 0.0% |
| ROA | 29.0% | 27.2% | 24.1% | 34.0% | 41.5% | 35.0% | 33.3% | 31.3% | 31.5% | 31.0% | 34.2% | 34.8% | 35.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 192M | 292M | 292M | 341M | 394M | 497M | 593M | 593M | 654M | 591M | 625M | 792M | 792M |
| Free Cash Flow | 122M | 229M | 229M | 251M | 274M | 411M | 504M | 504M | 560M | 485M | 512M | 672M | 672M |
| Owner Earnings | 139M | 242M | 242M | 276M | 318M | 417M | 504M | 504M | 545M | 473M | 494M | 659M | 659M |
| CapEx | 70M | 63M | 63M | 90M | 120M | 86M | 89M | 89M | 94M | 105M | 113M | 121M | 121M |
| Maint. CapEx | 36M | 32M | 32M | 44M | 54M | 60M | 65M | 65M | 80M | 81M | 88M | 89M | 89M |
| Growth CapEx | 34M | 31M | 31M | 46M | 66M | 26M | 24M | 24M | 14M | 25M | 25M | 32M | 32M |
| D&A | 36M | 32M | 32M | 44M | 54M | 60M | 65M | 65M | 80M | 81M | 88M | 89M | 89M |
| CapEx/OCF | 36.4% | 21.7% | 21.7% | 20.0% | 30.4% | 17.2% | 15.0% | 15.0% | 14.4% | 18.4% | 18.1% | 15.2% | 15.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 53M | 15M | 80M | 84M | 92M | 106M | 122M | 122M | 139M | 170M | 210M | 237M | 237M |
| Dividend Yield | 1.8% | N/A | 1.5% | 1.4% | 1.2% | 1.1% | N/A | 0.9% | 0.9% | 1.3% | 1.7% | 1.6% | 2.1% |
| Share Buybacks | 82M | 739M | 739M | 1.1B | 591M | 699M | 305M | 305M | 1.3B | 269M | 330M | 358M | 358M |
| Buyback Yield | 2.4% | 0.0% | 13.2% | 3.9% | 6.9% | 6.5% | 0.0% | 2.2% | 8.4% | 2.4% | 2.3% | 2.5% | 3.2% |
| Stock-Based Comp | 18M | 18M | 18M | 21M | 23M | 20M | 24M | 24M | 29M | 38M | 43M | 45M | 45M |
| Debt Repayment | 12M | 0 | 564M | 928M | 604M | 92M | 0 | 202M | 910M | 56M | 18M | 1.1B | 1.1B |
| Balance Sheet | |||||||||||||
| Net Debt | 1.5B | 2.1B | 2.1B | 3.1B | 3.5B | 2.9B | 4.0B | 4.0B | 4.9B | 5.1B | 3.8B | 4.9B | 4.7B |
| Cash & Equiv. | 31M | 133M | 133M | 36M | 25M | 191M | 169M | 169M | 148M | 114M | 186M | 126M | 151M |
| Long-Term Debt | 1.5B | 2.2B | 2.2B | 3.1B | 3.5B | 3.1B | 4.1B | 4.1B | 5.0B | 4.9B | 3.8B | 4.8B | 4.8B |
| Debt/Equity | -1.23 | -1.24 | -1.24 | -1.15 | -1.16 | -0.92 | -1.25 | -1.25 | -1.20 | -1.28 | -1.02 | -1.29 | 0.00 |
| Interest Coverage | 4.0 | 4.1 | 4.1 | 4.3 | 3.9 | 4.2 | 4.2 | 4.2 | 4.1 | 4.2 | 4.5 | 4.9 | 4.9 |
| Equity | -1.2B | -1.8B | -1.8B | -2.7B | -3.0B | -3.4B | -3.3B | -3.3B | -4.2B | -4.1B | -4.0B | -3.9B | -3.9B |
| Total Assets | 596M | 800M | 800M | 837M | 907M | 1.4B | 1.6B | 1.6B | 1.7B | 1.7B | 1.7B | 1.7B | 1.7B |
| Total Liabilities | 1.8B | 2.6B | 2.6B | 3.6B | 3.9B | 4.8B | 4.9B | 4.9B | 5.9B | 5.7B | 5.7B | 5.6B | 5.6B |
| Intangibles | N/A | 16M | N/A | N/A | N/A | N/A | 15M | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -1.2B | -1.8B | -1.8B | -2.7B | -3.0B | -3.4B | -3.3B | -3.3B | -4.2B | -4.1B | -4.0B | -3.9B | -3.9B |
| Working Capital | 163M | 227M | 227M | 181M | 187M | 334M | 399M | 399M | 270M | 270M | -707M | 353M | 353M |
| Current Assets | 428M | 603M | 603M | 580M | 567M | 788M | 869M | 869M | 861M | 817M | 905M | 894M | 894M |
| Current Liabilities | 266M | 376M | 376M | 398M | 380M | 454M | 471M | 471M | 591M | 547M | 1.6B | 542M | 542M |
| Per Share Data | |||||||||||||
| EPS | 2.86 | 3.47 | 3.47 | 5.83 | 8.35 | 9.56 | 12.39 | 12.39 | 13.54 | 14.66 | 16.69 | 17.57 | 17.57 |
| Owner EPS | 2.44 | 4.35 | 4.35 | 5.79 | 7.33 | 9.94 | 12.70 | 12.70 | 14.46 | 13.35 | 14.11 | 19.23 | 19.58 |
| Book Value | -21.45 | -32.40 | -32.40 | -57.38 | -70.13 | -81.49 | -83.23 | -83.23 | -111.66 | -114.95 | -113.20 | -113.91 | -116.01 |
| Cash Flow/Share | 3.38 | 5.25 | 5.25 | 7.16 | 9.09 | 11.86 | 14.95 | 14.95 | 17.35 | 16.69 | 17.85 | 23.13 | 20.53 |
| Dividends/Share | 1.00 | 1.24 | 1.24 | 1.84 | 2.20 | 2.60 | 3.12 | 3.12 | 3.76 | 4.84 | 6.04 | 6.96 | 7.04 |
| Shares Out. | 56.8M | 55.6M | 55.6M | 47.7M | 43.3M | 41.9M | 39.7M | 39.7M | 37.7M | 35.4M | 35.0M | 34.2M | 33.6M |
| Valuation | |||||||||||||
| P/E Ratio | 21.3 | N/A | 28.9 | 36.2 | 23.7 | 27.0 | N/A | 28.2 | 30.8 | 27.1 | 24.4 | 24.1 | 19.0 |
| P/FCF | 28.4 | N/A | 24.4 | 29.5 | 31.3 | 26.3 | N/A | 27.4 | 28.1 | 24.8 | 27.8 | 21.6 | 16.7 |
| EV/EBIT | 14.3 | N/A | 19.1 | 24.0 | 21.2 | 23.5 | N/A | 24.5 | 26.5 | 22.4 | 22.9 | 20.1 | 16.6 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 1.5 | N/A | 2.4 | 2.6 | 2.2 | 2.7 | N/A | 3.4 | 3.8 | 2.8 | 2.6 | 3.1 | 2.3 |
| FCF Yield | 3.5% | N/A | 4.1% | 3.2% | 3.2% | 3.8% | N/A | 3.6% | 3.6% | 4.0% | 3.6% | 4.6% | 6.0% |
| Market Cap | 3.5B | 0 | 5.6B | 7.8B | 8.6B | 10.8B | 0 | 13.8B | 15.7B | 12.3B | 14.3B | 14.5B | 11.2B |
| Avg. Price | 52.70 | 0.00 | 95.65 | 128.80 | 174.72 | 236.95 | 0.00 | 349.71 | 433.61 | 355.90 | 345.06 | 444.47 | 332.97 |
| Year-End Price | 61.05 | N/A | 100.45 | 155.68 | 198.10 | 257.89 | N/A | 348.80 | 417.40 | 340.19 | 407.14 | 423.06 | 332.97 |
DOMINOS PIZZA INC passes 5 of 9 quality checks, suggesting mixed fundamentals.
DOMINOS PIZZA INC trades at 19.0x trailing earnings, compared to its 15-year median P/E of 27.1x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 16.7x vs a median of 27.4x. The company's 5-year average ROIC is 77.4% with a gross margin of 39.1%. Total shareholder yield (dividends + buybacks) is 5.3%. At current prices, the estimated annualized return to fair value is +6.6%.
DOMINOS PIZZA INC (DPZ) has a net profit margin of 12.2%. This is a healthy margin.
DOMINOS PIZZA INC (DPZ) generated $672 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
DOMINOS PIZZA INC (DPZ) reported earnings per share (EPS) of $17.57 in its most recent fiscal year.
DOMINOS PIZZA INC (DPZ) has a return on equity (ROE) of -15.3%. A negative ROE may indicate losses or negative equity.
DOMINOS PIZZA INC (DPZ) has a 5-year average gross margin of 39.1%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for DOMINOS PIZZA INC (DPZ), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
DOMINOS PIZZA INC (DPZ) has a book value per share of $-113.91, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued same-store sales growth in 2026 despite a challenging macro environment, with U.S. comps guided to low single digits and international comps to low single digits, though the company maintains confidence in its long-term algorithm through 2028. The company anticipates meaningful contributions from new initiatives including the Parmesan Stuffed Crust Pizza and expanded DoorDash rollout, which is expected to drive incremental sales in the second half of 2026 as awareness and marketing spend increases. Supply chain margins are expected to grow year-over-year driven by procurement productivity, though the company expects less productivity gains moving forward than in recent years, while the company continues to expect operating income growth of mid- to high-single digits excluding foreign currency impacts. Management remains focused on delivering net store growth of 175+ stores in the U.S. and approximately 800 stores internationally, with confidence that competitor store closures will translate into market share gains for Domino's franchisees.
Based on recent SEC filings and earnings calls, DOMINOS PIZZA INC (DPZ) has provided the following forward guidance: U.S. same-store sales: low single digits (FY2026); International same-store sales: low single digits (FY2026); U.S. net store growth: 175+ (FY2026); International net store growth: approximately 800 (FY2026); Global retail sales growth: mid-single digits (FY2026), plus 1 additional metric.