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Domino's

DPZ Nasdaq Restaurants Financials FY2016–FY2025

Domino's revenue rose 5.0% to $4.9 billion in fiscal 2025. Its operating margin was 19.3%, up from 18.7% a year earlier. Free cash flow was $672 million, up 31.1%. It paid out $595 million in dividends and buybacks, 89% of free cash flow. The diluted share count fell 2.1%.

Last close · Oct 23, 2026

$313.61

1.3%
Value it Compare
Revenue Total sales reported in the income statement.
$4.9B
5.0% vs prior year
Operating margin Operating income as a share of revenue.
19.3%
0.6 pts
Net income Profit after all expenses, interest and tax.
$602M
3.0%
Free cash flow Cash from operations minus capital spending.
$672M
31.1%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
92.2%
5.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$10.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
17.3x
On $18.15 EPS (TTM)

About these figures. Total debt is Domino's long-term debt and finance leases including the current portion; the SEC data's plain long-term debt tag holds only a small part of it.

What Domino's does

Domino's sells pizza for delivery and carryout, along with sides such as bread, wings, chicken, pasta, sandwiches and desserts. It has more than 22,100 stores in over 90 markets, and about 99% of them are owned and run by independent franchisees. In the US, more than 85% of its sales in 2025 came through digital channels such as its website and app.

Domino's makes money mainly by charging franchisees royalties, a share of their sales, and fees, by selling them dough, cheese and other supplies, and by running some US stores itself. Its supply chain segment, which makes dough and delivers food and supplies to stores in the US and Canada, brought in 60.5% of revenue in 2025. The US stores segment, its franchise operations and company-owned stores, brought in 32.6%, and international franchising 6.9%. In the US it competes mainly with Pizza Hut, Papa John's and Little Caesars, plus regional and local pizzerias; abroad, mainly with Pizza Hut and Papa John's.

Most stores outside the US are run by master franchisees that hold the rights to whole countries or regions. The largest, Domino's Pizza Enterprises, ran 3,524 stores in 12 markets. Domino's itself had about 10,200 employees at the end of 2025.

Legal name
Domino’s Pizza, Inc.
Fiscal year ends
December 28, 2025
Latest annual report
10-K · Feb 23, 2026
Accession · CIK
0001193125-26-062321
0001286681

Revenue and margins

Domino's had $4.9B of revenue in fiscal 2025, up 5.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 16.9% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $672M in fiscal 2025, 13.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Domino's returned $595M to shareholders in fiscal 2025, 89% of free cash flow. The diluted share count fell 2.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Domino's yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$4.7B and divides by 34.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 17.3x · peers 27.9x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Domino's can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $148M$60.4M$114M$186M$126M
Debt incl. finance leases $5.1B$5.0B$5.0B$5.0B$4.8B
Net debt / EBITDA 5.8x5.9x5.4x5.0x4.5x
Interest coverage 4.1x3.9x4.2x4.5x4.9x
Current ratio 1.5x1.5x1.5x0.6x1.7x
Quick ratio 1.3x1.3x1.3x0.5x1.5x
Total assets $1.7B$1.6B$1.7B$1.7B$1.7B
Total liabilities $5.9B$5.8B$5.7B$5.7B$5.6B
Shareholders' equity −$4.2B−$4.2B−$4.1B−$4.0B−$3.9B
Net debt (− = net cash) $4.9B$5.0B$4.9B$4.8B$4.7B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$10.5M

6 insiders

Of sales under plans

62%

$6.4M

DateInsiderTradeSharesPriceValueFiling
Jul 22, 2026 Kelly E GarciaEVP, Chief Tech & Data Ofcr Sold 12,430 $322.04 $4.0M Form 4
Jul 17, 2026 Russell J WeinerChief Executive Officer, Director Sold plan 10,850 $330.83 $3.6M Form 4
Jul 16, 2026 Joseph Hugh JordanCOO and President-Domino's US Sold plan 5,450 $311.29 $1.7M Form 4
Jul 9, 2026 Kelly E GarciaEVP, Chief Tech & Data Ofcr Sold plan 487 $297.01 $0.1M Form 4
Jun 11, 2026 Kelly E GarciaEVP, Chief Tech & Data Ofcr Sold plan 487 $311.74 $0.2M Form 4
May 21, 2026 Kelly E GarciaEVP, Chief Tech & Data Ofcr Sold plan 488 $313.16 $0.2M Form 4
Apr 30, 2026 Kelly E GarciaEVP, Chief Tech & Data Ofcr Sold plan 488 $332.31 $0.2M Form 4
Mar 13, 2026 Cynthia A HeadenEVP, Chief Supply Chain Offr Sold plan 738 $396.50 $0.3M Form 4
Mar 13, 2026 Jessica L ParrishVP, Chief Accounting Officer Sold plan 47 $396.50 $0.0M Form 4
Mar 13, 2026 Reddy SandeepEVP, Chief Financial Officer Sold plan 307 $396.50 $0.1M Form 4
Mar 12, 2026 Jessica L ParrishVP, Chief Accounting Officer Sold plan 47 $391.69 $0.0M Form 4
Mar 12, 2026 Reddy SandeepEVP, Chief Financial Officer Sold plan 253 $391.69 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✓ ✓ ✓
F-score 9 / 98 / 98 / 9
Accruals ratio −4.4%−2.4%−11.0%
Altman Z'' −4.32−7.43−3.05

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Domino's DPZ $10.4B 5.0% 19.3% 13.6% 92.2% 17.3x 8
Brinker International EAT $8.2B 7.9% 10.7% 9.6% 66.0% 16.8x 8 Compare →
Texas Roadhouse TXRH $10.9B 9.4% 8.1% 5.8% 33.0% 26.5x 4 Compare →
Cheesecake Factory CAKE $5.3B 4.8% 5.0% 4.1% 20.5% 29.4x 5 Compare →
Cracker Barrel CBRL $1.5B −4.7% −0.4% 2.7% — 48.3x — Compare →

Stories about Domino's

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.5B $2.8B $3.4B $3.6B $4.1B $4.4B $4.5B $4.5B $4.7B $4.9B
Gross profit $768M $866M $1.3B $1.4B $1.6B $1.7B $1.6B $1.7B $1.8B $2.0B
Operating income $454M $521M $572M $629M $726M $780M $768M $820M $879M $954M
Interest expense $110M $123M $146M $151M $172M $192M $198M $197M $196M $196M
Pretax income $345M $400M $429M $483M $555M $626M $573M $652M $722M $770M
Income tax $130M $122M $66.7M $81.9M $63.8M $115M $121M $133M $138M $169M
Net income $215M $278M $362M $401M $491M $511M $452M $519M $584M $602M
Diluted EPS $4.30 $5.83 $8.35 $9.56 $12.39 $13.54 $12.53 $14.66 $16.69 $17.57
Diluted shares 0.05B 0.05B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.03B
Cash flow
Cash from operations $293M $341M $394M $497M $593M $654M $475M $591M $625M $792M
Capital expenditure $58.6M $90.0M $120M $85.6M $88.8M $94.2M $87.2M $105M $113M $121M
Free cash flow $234M $251M $274M $411M $504M $560M $388M $485M $512M $672M
Depreciation and amortization $38.1M $44.4M $53.7M $59.9M $65.0M $72.9M $80.3M $80.6M $87.7M $88.8M
Stock-based compensation $18.6M $20.7M $22.8M $20.3M $24.2M $28.7M $28.7M $37.5M $43.3M $44.6M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $300M $1.1B $591M $699M $305M $1.3B $294M $269M $330M $358M
Dividends paid $73.9M $84.3M $92.2M $106M $122M $139M $158M $170M $210M $237M
Dividends and buybacks $374M $1.1B $683M $805M $427M $1.5B $451M $439M $540M $595M
Balance sheet
Cash and short-term investments $42.8M $35.8M $25.4M $191M $169M $148M $60.4M $114M $186M $126M
Total debt $2.2B $3.2B $3.5B $4.1B $4.1B $5.1B $5.0B $5.0B $5.0B $4.8B
Finance lease liabilities $0.0M $0.0M $17.0M $19.7M $60.6M $76.3M $74.2M $73.5M $66.1M $62.0M
Current assets $496M $580M $567M $788M $869M $861M $791M $817M $905M $894M
Current liabilities $404M $398M $380M $454M $471M $591M $537M $547M $1.6B $542M
Inventory $40.2M $40.0M $46.0M $53.0M $66.7M $68.3M $81.6M $83.0M $70.9M $79.2M
Property and equipment, net $139M $170M $235M $243M $297M $324M $302M $304M $301M $324M
Total assets $716M $837M $907M $1.4B $1.6B $1.7B $1.6B $1.7B $1.7B $1.7B
Total liabilities $2.6B $3.6B $3.9B $4.8B $4.9B $5.9B $5.8B $5.7B $5.7B $5.6B
Shareholders' equity −$1.9B −$2.7B −$3.0B −$3.4B −$3.3B −$4.2B −$4.2B −$4.1B −$4.0B −$3.9B
Margins
Gross margin 31.1% 31.1% 38.0% 38.8% 38.7% 38.7% 36.3% 38.6% 39.3% 40.0%
Operating margin 18.4% 18.7% 16.7% 17.4% 17.6% 17.9% 16.9% 18.3% 18.7% 19.3%
EBITDA margin 19.9% 20.3% 18.2% 19.1% 19.2% 19.6% 18.7% 20.1% 20.5% 21.1%
Net margin 8.7% 10.0% 10.5% 11.1% 11.9% 11.7% 10.0% 11.6% 12.4% 12.2%
FCF margin 9.5% 9.0% 8.0% 11.4% 12.2% 12.9% 8.6% 10.8% 10.9% 13.6%
Returns
Return on capital 99.4% 112.3% 113.7% 107.3% 110.9% 93.5% 81.6% 82.6% 87.1% 92.2%
Return on capital employed 123.3% 138.8% 118.4% 86.5% 71.7% 71.7% 71.6% 74.7% 140.4% 146.8%
Return on assets 28.3% 35.8% 41.5% 35.0% 33.3% 31.5% 27.6% 31.7% 34.2% 34.9%
Growth
Revenue growth 11.6% 12.8% 23.1% 5.4% 13.8% 5.8% 4.1% −1.3% 5.1% 5.0%
Net income growth 11.4% 29.5% 30.3% 10.7% 22.6% 3.9% −11.4% 14.8% 12.5% 3.0%
EPS growth 23.9% 35.6% 43.2% 14.5% 29.6% 9.3% −7.5% 17.0% 13.9% 5.3%
FCF growth 2.4% 7.4% 9.2% 50.0% 22.5% 11.1% −30.7% 25.1% 5.5% 31.2%
Share count change −10.1% −4.5% −9.1% −3.3% −5.4% −4.9% −4.2% −1.9% −1.2% −2.2%
Financial health
Net debt / EBITDA 4.4x 5.5x 5.6x 5.7x 5.0x 5.8x 5.9x 5.4x 5.0x 4.5x
Interest coverage 4.1x 4.3x 3.9x 4.2x 4.2x 4.1x 3.9x 4.2x 4.5x 4.9x
Current ratio 1.2x 1.5x 1.5x 1.7x 1.9x 1.5x 1.5x 1.5x 0.6x 1.7x
Quick ratio 1.1x 1.4x 1.4x 1.6x 1.7x 1.3x 1.3x 1.3x 0.5x 1.5x
Capital allocation
Capex / revenue 2.4% 3.2% 3.5% 2.4% 2.2% 2.2% 1.9% 2.4% 2.4% 2.4%
Stock comp / revenue 0.8% 0.7% 0.7% 0.6% 0.6% 0.7% 0.6% 0.8% 0.9% 0.9%
Payouts / FCF 160.0% 457.1% 249.2% 195.6% 84.6% 260.8% 116.3% 90.4% 105.4% 88.5%
Quality scores
Piotroski F-score 6.0 8.0 9.0 8.0 6.0 5.0 6.0 9.0 8.0 8.0
Altman Z'' −4.2 −5.9 −6.1 −4.2 −2.8 −4.8 −5.0 −4.3 −7.4 −3.1
Accruals ratio −10.3% −8.2% −3.7% −8.4% −6.9% −8.9% −1.4% −4.4% −2.4% −11.0%

Source: SEC EDGAR XBRL filings (CIK 0001286681). Data updated October 13, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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