olivLaw · European equity research
Domino's Pizza Group plc DOM.L
United Kingdom · London Stock Exchange · ISIN GB00BYN59130 · Vertical: Listed companies from United Kingdom
Domino's Pizza Group is the largest pizza delivery operator and franchisor in the UK and Ireland, serving more than 1,399 stores through its own supply chain. In 2025 group revenue grew while profit fell under pressure from a weak market, and the company entered a period of leadership change and a sharper focus on its core business. Total system sales reached £1,595.6m and group revenue £685.4m.
At the close of 05 Nov 2026, Domino's Pizza Group plc (DOM.L) stock was 2.35 GBP (+0.43% on the day), with market capitalisation 912.0 m GBP, P/E 15.7 on diluted EPS of 0.15 GBP over the last 12 months, dividend yield 3.28%, beta 0.61, 52-week range 1.67–2.37 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 61.2
- strong (55–70)
- Bollinger (20, 2)
- 2.18 – 2.40
- in the upper half of the band · %B 0.76 · band width 9.7%
- SMA 50 / 200
- 2.18 / 1.97
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.04 / 0.04
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +5.6% | −0.6% | +6.2 pp | — |
| 3 months | +14.3% | −4.2% | +18.5 pp | — |
| 6 months | +21.8% | +4.3% | +17.4 pp | — |
| Year to date | +35.5% | +7.5% | +28.0 pp | — |
| 1 year | +25.7% | +9.9% | +15.7 pp | +5.8% |
| 3 years | −35.5% | +49.8% | −85.4 pp | +26.3% |
| 5 years | −40.2% | +42.8% | −83.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 3-quarter history (min 11.5, median 13.5, max 13.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | unavailable | 679.8 m | 664.5 m | 685.4 m |
| Revenue YoY | unavailable | unavailable | −2.3% | +3.1% |
| Net income | unavailable | 115.0 m | 90.2 m | 58.6 m |
| Net income YoY | unavailable | unavailable | −21.6% | −35.0% |
| Diluted EPS | unavailable | 0.28 | 0.23 | 0.15 |
| Diluted EPS YoY | unavailable | unavailable | −18.3% | −34.2% |
| net % | unavailable | 16.9% | 13.6% | 8.5% |
| Free cash flow | unavailable | 103.7 m | 91.9 m | 86.9 m |
Balance sheet & financial health
Fiscal year 2025 · 28 Dec 2025
- Cash
- 24.6 m GBP
- Financial debt
- unavailable GBP
- Net debt
- unavailable GBP
- Equity
- -88.9 m GBP
- Total assets
- 613.9 m GBP
- Debt / equity
- unavailable
- Current ratio
- 0.84x
- ROE
- unavailable
- ROA
- 9.6%
- FCF margin
- 12.7%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | — | 679.8 m | 664.5 m | 685.4 m | esef· 15 Apr 2026verified |
| Cost of revenue | — | 363.6 m | 345.6 m | 370.7 m | esef· 15 Apr 2026verified |
| Gross profit | — | 316.2 m | 318.9 m | 314.7 m | esef· 15 Apr 2026verified |
| Operating income | — | 156.8 m | 142.6 m | 101.1 m | esef· 15 Apr 2026verified |
| Interest expense | — | 28.2 m | 31.7 m | 33.6 m | esef· 15 Apr 2026verified |
| Pre-tax income | — | 142.3 m | 124.9 m | 81.1 m | esef· 15 Apr 2026verified |
| Income tax | — | 27.3 m | 34.7 m | 22.1 m | esef· 15 Apr 2026verified |
| Net income | — | 115.0 m | 90.2 m | 58.6 m | esef· 15 Apr 2026verified |
| Diluted EPS | — | 0.28 | 0.23 | 0.15 | esef· 15 Apr 2026verified |
| Dividend per share | 0.07 | 0.07 | 0.08 | 0.08 | esef· 15 Apr 2026verified |
Balance sheet · GBP
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 30.4 m | 52.1 m | 52.2 m | 24.6 m | esef· 15 Apr 2026verified |
| Receivables | — | 51.6 m | 60.3 m | 66.1 m | esef· 15 Apr 2026verified |
| Inventories | — | 11.4 m | 9.2 m | 10.7 m | esef· 15 Apr 2026verified |
| Current assets | — | 134.7 m | 142.4 m | 126.7 m | esef· 15 Apr 2026verified |
| Property, plant & equipment, net | — | 97.6 m | 103.5 m | 119.4 m | esef· 15 Apr 2026verified |
| Total assets | — | 512.5 m | 602.9 m | 613.9 m | esef· 15 Apr 2026verified |
| Current liabilities | — | 143.4 m | 145.1 m | 150.5 m | esef· 15 Apr 2026verified |
| Total liabilities | — | 646.5 m | 685.1 m | 702.8 m | esef· 15 Apr 2026verified |
| Equity | -112.8 m | -134.0 m | -82.2 m | -88.9 m | esef· 15 Apr 2026verified |
| Shares outstanding at year end | — | — | 393.9 m | 388.1 m | esef· 15 Apr 2026derived |
Cash flow · GBP
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | — | 113.5 m | 103.5 m | 103.9 m | esef· 15 Apr 2026verified |
| Capex | — | 9.8 m | 11.6 m | 17.0 m | esef· 15 Apr 2026verified |
| Free cash flow | — | 103.7 m ≈ | 91.9 m ≈ | 86.9 m ≈ | esef· 15 Apr 2026derived |
| Investing cash flow | — | 94.7 m | -200.0 k | 18.5 m | esef· 15 Apr 2026verified |
| Financing cash flow | — | -186.5 m | -103.0 m | -149.9 m | esef· 15 Apr 2026verified |
| Dividends paid | — | 41.9 m | 42.0 m | 43.4 m | esef· 15 Apr 2026verified |
| Share repurchases | — | 98.3 m | 26.3 m | — | esef· 15 Apr 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 52.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 912.0 m GBP
Key indicators
Coverage and freshness
Score by group
52% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 52.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 8.5% | 43 (vs peers) | 12% |
| FCF conversion · Quality | 148.3% | 100 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 3.0x | 23 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 0.8x | 3 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 15.7x | 50 (vs peers) | 20% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 9.5% | 100 (on a fixed band) | 16% |
| Shareholder yield (distributions) · Returns | 7.6% | 100 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 49.9% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet15/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality71/100 · 2/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation72/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
DOMINO'S PIZZA GROUP PLC (DOM.L). Latest full fiscal year: 2025; data up to 2025-12-28.
Figures computed from the financial statements: revenue 685.4 m GBP in 2025; YoY growth 3.1%; net margin 8.5%.
The estimated value range is 1.22–1.77 GBP per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 1.50 GBP, the price of 2.35 GBP leaves a potential of -36.2% (value / price − 1) and a margin of safety of -56.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 52.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 148.3%
- FCF yield: 9.5%
- Shareholder yield (distributions): 7.6%
- Payout ratio (FCF): 49.9%
What contradicts it
- Interest coverage: 3.0x
- Current ratio: 0.8x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| DOM.LDomino's Pizza Group PLC | 912.0 m | 15.7 | — | 8.5% | +3.1% | +35% / −36% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for DOM.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (GBP)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.38 Total return -39% · Per year -39% | 2.44 Total return 7% · Per year 7% | 3.68 Total return 61% · Per year 61% |
| 3 years | 1.30 Total return -37% · Per year -14% | 2.60 Total return 21% · Per year 7% | 4.30 Total return 96% · Per year 25% |
| 5 years | 1.23 Total return -36% · Per year -8% | 2.76 Total return 36% · Per year 6% | 5.03 Total return 138% · Per year 19% |
- Exit P/E± 0.65
- Net margin± 0.45
- Annual revenue growth± 0.38
- Annual dilution± 0.04
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Domino's Pizza Group is the largest pizza delivery operator and franchisor in the UK and Ireland, serving more than 1,399 stores through its own supply chain. In 2025 group revenue grew while profit fell under pressure from a weak market, and the company entered a period of leadership change and a sharper focus on its core business. Total system sales reached £1,595.6m 1 and group revenue £685.4m 1.
SWOT
Strengths
- Strong brand, large franchise network and an integrated supply chain with very high product availability.
- Proprietary digital platform and app with a large user base, enabling personalised offers.
- Cash-generative business model that supports the dividend and investment without reliance on major external funding.
Weaknesses
- Profitability fell in 2025, and pressure on franchisees feeds directly into group earnings.
- Dependence on the UK market and discretionary spending makes the group vulnerable to economic decline.
- Leadership is in transition, with an interim CEO and changes in finance, which could slow decisions.
Opportunities
- Potential for new stores in Ireland and in the compact format for developers and forecourts.
- The CHICK 'N' DIP launch and the loyalty programme could open new eating occasions.
- Warehouse automation and the new Avonmouth centre could reduce operating costs.
Threats
- A sharper decline in the takeaway market could reduce franchisee volumes and profitability.
- Regulation on the promotion of unhealthy foods could limit advertising and menu choice.
- Rising labour, tax and energy costs could weaken the franchise network.
Risks
- Competitive pressurehigh
If the company fails to adapt to market changes or offer attractive products, it could lose customers and market share 1.
- Franchisee relationshipshigh
If franchise economics become less attractive, franchisees could stop investing in new stores or products 1.
- Supply chain centre failuremedium
A serious incident at a supply chain centre could interrupt deliveries to stores until contingency plans take effect 1.
- Business-critical systemsmedium
A major platform outage or cyber attack could block a large share of sales, most of which are digital 1.
- Failure of a key supplierlow
Some ingredients have a sole source, so the loss of that supplier could temporarily disrupt supply 1.
Investment thesis
What would need to be true (bull case)
- If the market recovers and digital orders keep growing, group margins could return towards earlier levels, supported by supply chain efficiency.
- Expansion in Ireland and the compact format could add stores without large investment from the group.
- CHICK 'N' DIP and the loyalty programme could raise order frequency and basket size.
What would break the thesis
- If the decline in UK consumer spending lasts, volumes and group profitability could remain under pressure.
- Labour costs and taxes could weaken franchisees, which could slow network growth.
- Changes in leadership and a review of capital priorities could delay important decisions for investors.
What to watch
- Appointment of a permanent CEO and the new strategy2026
- Review of capital allocation priorities by the incoming CFO2026
- Launch of the loyalty programme and CHICK 'N' DIP resultslate 2026
- Commissioning of the Avonmouth supply chain centremid-2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Domino's Pizza Group plc runs the Domino's brand in the UK and Ireland through both corporate stores and a franchise network. The group controls its supply chain, which makes dough and delivers ingredients three times a week to stores, and develops the digital platform through which most orders are placed. The company describes its model as highly cash generative, which funds investment and the dividend. In 2025 an interim CEO was appointed, and the strategy for fiscal 2026 centres on the core business 1.
Revenue comes from sales to customers through stores, including delivery, collection and orders via aggregators such as Just Eat and Uber Eats, and from supply chain revenue earned by serving franchisees. Over 90% of sales are made through digital channels 1.
In 2025 management simplified its priorities: investing in the core UK and Ireland business, keeping leverage prudent and paying a progressive dividend. Work on a second brand has been stopped 1.
Segments
Store sales and delivery
The main segment covers orders placed at Domino's stores for delivery or collection. The company reported record market share, although order volumes fell in a weak consumer environment 1.
Supply chain
The four supply chain centres, plus the Avonmouth centre under construction, supply ingredients and equipment to stores. It is a major source of group revenue and EBITDA and supports franchisee margins 1.
Ireland
The Republic of Ireland is seen as under-penetrated compared with the UK, and the company sees potential for a significant number of additional stores. The national launch of CHICK 'N' DIP in February 2026 complements the offer 1.
Market context
The UK takeaway market declined in 2025 amid a weaker economy and pressure on consumers' disposable income. Domino's nevertheless grew its market share, while the pizza segment fell significantly in the same year 1.
Digital ordering dominates the segment, and aggregators have widened consumer choice. Cost pressures, including employment taxes and the National Living Wage, weigh on both the group and its franchisees 1.
Trends
- Weaker discretionary spendingheadwind
Lower consumer disposable income weighed on order volumes in 2025. If economic conditions stay fragile, sales pressure could continue 1.
- Digital ordering and the apptailwind
Consumers increasingly order through digital channels, and the Domino's app drives higher-value and more frequent orders. A loyalty programme is planned to launch later in 2026 1.
- Rising labour costsheadwind
Higher employment taxes and the National Living Wage have raised franchisee costs, reducing their profitability and their willingness to invest in new stores 1.
- Shift towards healthier eatingmixed
Customers want healthier options, and rules on foods high in fat, salt and sugar may affect promotion and menus. The company is working on a healthier menu strategy and product reformulation 1.
Competitive position
Domino's competes in the UK fast food and delivery market with other pizza chains and QSR restaurants, as well as with aggregator platforms that bring in new customers. The company says it remains the leader in pizza and sees competition as pressure on its market share 1.
Competitive pressure shows up mainly in pricing and the need for new products. The CHICK 'N' DIP launch and menu innovation are responses to this pressure, and the company says it must keep its edge over rivals 1.
- Just Eat Takeaway
Aggregator platform through which Domino's delivers orders, while also competing for customer attention in apps.
- Uber Eats
Delivery aggregator used by Domino's since 2024, which brings new customers but also moves some orders onto a third-party platform.
- UK pizza and fast food chains
Traditional rivals in the pizza and home delivery segment, whose dynamics influence the group's market share.
- Chicken QSR restaurants
Competition in the fast-growing chicken segment, which Domino's now enters through CHICK 'N' DIP.
News & filings
In the press
- Domino's Drops on Sales Growth Miss; Bumble Goes Private | Stock MoversBloomberg Markets · 13 Oct 2026 · EN
- How Is Domino's Pizza’s Stock Performance Compared to Other Consumer Discretionary Stocks?Yahoo Finance — News · 21 Sept 2026 · EN
- Domino's Pizza Stock Is Dirt Cheap, With 30% Potential Upside - What's the Best Play?Yahoo Finance — News · 20 Sept 2026 · EN
- Are Wall Street Analysts Predicting Domino's Pizza Stock Will Climb or Sink?Yahoo Finance — News · 26 Aug 2026 · EN
- Domino's Pizza Korea unveils shrimp-steak pizza collaboration with MusinsaKorea Times — Business · 14 Jul 2026 · RO
Annual reports (ESEF)
- Annual report 202515 Apr 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-28 (ESEF) · SEC / Domino's Pizza Group plc · 28 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.