olivLaw · US equity research
Domino's Pizza, Inc. DPZ
Wholesale-Groceries & Related Products · SIC 5140 · Vertical: Wholesale — nondurable goods (SIC 514x)
Domino's Pizza is the largest pizza company in the world, with a mostly franchised model in which revenue comes mainly from royalties and from its supply chain. Same store sales growth in the U.S. has slowed sharply in 2026, while revenue and operating income continue to rise, supported by a global network of more than 22,700 locations.
At the close of 04 Nov 2026, Domino's Pizza, Inc. (DPZ) stock was 340.69 USD (+5.45% on the day), with market capitalisation 11.2 bn USD, P/E 19.3 on diluted EPS of 17.63 USD over the last 12 months, dividend yield 2.19%, beta 0.46, 52-week range 283.03–438.42 USD. Latest reported quarter (Q2 2026): revenue of 1.2 bn USD (+4.3% YoY), net income of 135.8 m USD (+3.6% YoY), diluted EPS 4.07 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 70.5
- overbought (≥ 70)
- Bollinger (20, 2)
- 293.28 – 331.06
- above the upper band · %B 1.25 · band width 12.1%
- SMA 50 / 200
- 313.30 / 341.57
- mixed trend
- MACD (12, 26, 9)
- 4.42 / 1.34
- 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 | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +14.6% | −1.1% | +15.7 pp | — |
| 3 months | −7.1% | −0.5% | −6.6 pp | — |
| 6 months | +4.9% | +4.4% | +0.5 pp | — |
| Year to date | −18.3% | +12.3% | −30.6 pp | — |
| 1 year | −16.3% | +13.5% | −29.8 pp | +12.9% |
| 3 years | −5.9% | +76.4% | −82.3 pp | +37.5% |
| 5 years | −31.3% | +63.7% | −95.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 14 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 1.4 bn | 1.1 bn | 1.1 bn | 1.1 bn | 1.5 bn | 1.2 bn | 1.2 bn |
| Cost of revenue | 656.4 m | 878.1 m | 668.9 m | 684.2 m | 687.2 m | 926.2 m | 686.1 m | 716.2 m |
| Gross profit | 423.7 m | 565.9 m | 443.1 m | 461.0 m | 459.9 m | 609.5 m | 464.5 m | 478.2 m |
| Operating income | 198.8 m | 273.7 m | 210.1 m | 225.0 m | 223.2 m | 295.7 m | 230.4 m | 232.0 m |
| Depreciation & amortisation | 20.8 m | 26.8 m | 20.4 m | 20.4 m | 20.4 m | 27.7 m | 20.4 m | 20.3 m ≈ |
| Interest expense | 44.7 m | 60.6 m | 45.6 m | 44.6 m | 45.0 m | 60.7 m | 46.2 m | 46.1 m |
| Pre-tax income | 184.6 m | 221.0 m | 192.5 m | 168.3 m | 179.2 m | 230.4 m | 180.6 m | 175.2 m |
| Income tax | 37.7 m | 51.5 m | 42.8 m | 37.2 m | 39.9 m | 48.8 m | 40.8 m | 39.5 m |
| Net income | 146.9 m | 169.4 m | 149.7 m | 131.1 m | 139.3 m | 181.6 m | 139.8 m | 135.8 m |
| Diluted EPS | 4.19 | 4.89 ≈ | 4.33 | 3.81 | 4.08 | 5.35 ≈ | 4.13 | 4.07 |
| Operating cash flow | — | — | 179.1 m | 187.8 m ≈ | — | — | 162.0 m | 190.6 m ≈ |
| Capex | — | — | 14.7 m | 20.5 m ≈ | — | — | 15.0 m | 24.0 m ≈ |
| Dividends paid | — | — | 617.0 k | 59.6 m ≈ | — | — | 1.5 m | 66.8 m ≈ |
| Share repurchases | — | — | 50.0 m | 153.0 m ≈ | — | — | 75.1 m | 159.5 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
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 4 percentile of its own 24-quarter history (min 18.4, median 27.2, max 37.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.8 bn | 3.4 bn | 3.6 bn | 4.1 bn | 4.5 bn | 4.5 bn | 4.7 bn | 4.9 bn |
| Revenue YoY | +25.8% | +23.1% | +5.4% | unavailable | +10.2% | −1.3% | +5.1% | +5.0% |
| Net income | 277.9 m | 362.0 m | 400.7 m | 491.3 m | 452.3 m | 519.1 m | 584.2 m | 601.7 m |
| Net income YoY | +44.1% | +30.3% | +10.7% | unavailable | −7.9% | +14.8% | +12.5% | +3.0% |
| Diluted EPS | 5.83 | 8.35 | 9.56 | 12.39 | 12.53 | 14.66 | 16.69 | 17.57 |
| Diluted EPS YoY | +68.0% | +43.2% | +14.5% | unavailable | +1.1% | +17.0% | +13.8% | +5.3% |
| net % | 10.0% | 10.5% | 11.1% | 11.9% | 10.0% | 11.6% | 12.4% | 12.2% |
| Free cash flow | 251.3 m | 274.3 m | 411.4 m | 504.0 m | 388.1 m | 485.5 m | 512.0 m | 671.5 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 28 Dec 2025
- Cash
- 125.7 m USD
- Financial debt
- 14.7 m USD
- Net debt
- -111.0 m USD
- Equity
- -3.9 bn USD
- Total assets
- 1.7 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.65x
- ROE
- unavailable
- ROA
- 34.8%
- FCF margin
- 13.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.6 bn | 4.1 bn | 4.5 bn | 4.5 bn | 4.7 bn | 4.9 bn | SEC (XBRL)· 23 Feb 2026verified |
| Cost of revenue | 2.2 bn | 2.5 bn | 2.9 bn | 2.8 bn | 2.9 bn | 3.0 bn | SEC (XBRL)· 23 Feb 2026verified |
| Gross profit | 1.4 bn | 1.6 bn | 1.6 bn | 1.7 bn | 1.8 bn | 2.0 bn | SEC (XBRL)· 23 Feb 2026verified |
| Operating income | 629.4 m | 725.6 m | 767.9 m | 819.5 m | 879.0 m | 954.0 m | SEC (XBRL)· 23 Feb 2026verified |
| Depreciation & amortisation | 59.9 m | 65.0 m | 80.3 m | 80.6 m | 87.7 m | 88.8 m | SEC (XBRL)· 23 Feb 2026verified |
| EBITDA | 689.3 m ≈ | 790.7 m ≈ | 848.2 m ≈ | 900.2 m ≈ | 966.7 m ≈ | 1.0 bn ≈ | SEC (XBRL)· 23 Feb 2026derived |
| Interest expense | 150.8 m | 172.2 m | 198.3 m | 196.5 m | 195.9 m | 196.0 m | SEC (XBRL)· 23 Feb 2026verified |
| Pre-tax income | 482.6 m | 555.1 m | 572.8 m | 652.4 m | 722.2 m | 770.3 m | SEC (XBRL)· 23 Feb 2026verified |
| Income tax | 81.9 m | 63.8 m | 120.6 m | 133.3 m | 138.0 m | 168.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Net income | 400.7 m | 491.3 m | 452.3 m | 519.1 m | 584.2 m | 601.7 m | SEC (XBRL)· 23 Feb 2026verified |
| Diluted EPS | 9.56 | 12.39 | 12.53 | 14.66 | 16.69 | 17.57 | SEC (XBRL)· 23 Feb 2026verified |
| Weighted average diluted shares | 41.9 m | 39.6 m | 36.1 m | 35.4 m | 35.0 m | 34.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Dividend per share | 2.60 | 3.12 | 4.40 | 4.84 | 6.04 | 6.96 | SEC (XBRL)· 23 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 190.6 m | 168.8 m | 60.4 m | 114.1 m | 186.1 m | 125.7 m | SEC (XBRL)· 23 Feb 2026verified |
| Receivables | 210.3 m | 244.6 m | 257.5 m | 282.8 m | 309.1 m | 316.0 m | SEC (XBRL)· 23 Feb 2026verified |
| Inventories | 53.0 m | 66.7 m | 81.6 m | 83.0 m | 70.9 m | 79.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Current assets | 787.6 m | 869.4 m | 790.7 m | 817.3 m | 905.3 m | 894.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Property, plant & equipment, net | 242.9 m | 297.4 m | 302.2 m | 304.4 m | 301.2 m | 324.0 m | SEC (XBRL)· 23 Feb 2026verified |
| Goodwill | 15.1 m | 15.1 m | 11.8 m | 11.7 m | 11.6 m | 10.7 m | SEC (XBRL)· 23 Feb 2026verified |
| Total assets | 1.4 bn | 1.6 bn | 1.6 bn | 1.7 bn | 1.7 bn | 1.7 bn | SEC (XBRL)· 23 Feb 2026verified |
| Accounts payable | 111.1 m | 94.5 m | 89.7 m | 106.3 m | 85.9 m | 135.0 m | SEC (XBRL)· 23 Feb 2026verified |
| Short-term debt | 43.4 m | 2.9 m | 54.8 m | 56.4 m | 100.0 k | 100.0 k | SEC (XBRL)· 23 Feb 2026verified |
| Long-term debt | — | — | — | — | 14.7 m | 14.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Current liabilities | 453.8 m | 470.8 m | 536.6 m | 547.4 m | 1.6 bn | 541.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Total liabilities | 4.8 bn | 4.9 bn | 5.8 bn | 5.7 bn | 5.7 bn | 5.6 bn | SEC (XBRL)· 23 Feb 2026verified |
| Equity | -3.4 bn † | -3.3 bn † | -4.2 bn † | -4.1 bn † | -4.0 bn † | -3.9 bn † | SEC (XBRL)· 23 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 497.0 m | 592.8 m | 475.3 m | 590.9 m | 624.9 m | 792.1 m | SEC (XBRL)· 23 Feb 2026verified |
| Capex | 85.6 m | 88.8 m | 87.2 m | 105.4 m | 112.9 m | 120.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Free cash flow | 411.4 m ≈ | 504.0 m ≈ | 388.1 m ≈ | 485.5 m ≈ | 512.0 m ≈ | 671.5 m ≈ | SEC (XBRL)· 23 Feb 2026derived |
| Investing cash flow | -27.9 m | -128.9 m | -53.7 m | -106.9 m | -31.2 m | -70.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Financing cash flow | -222.8 m | -446.4 m | -515.9 m | -476.4 m | -532.2 m | -752.1 m | SEC (XBRL)· 23 Feb 2026verified |
| Dividends paid | 105.7 m | 121.9 m | 157.5 m | 169.8 m | 209.9 m | 236.9 m | SEC (XBRL)· 23 Feb 2026verified |
| Share repurchases | 699.0 m | 304.6 m | 293.7 m | 269.0 m | 329.6 m | 357.7 m | SEC (XBRL)· 23 Feb 2026verified |
≈ 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: 63 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 11.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet36
- Growth52
- Quality94
- Returns88
- Valuation66
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 91.46 – 702.53 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)297.00 – 485.36 (Mid 368.94)WACC 8.8% · starting FCFF 807.8 m USD · terminal value share of EV 74%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -0.3%
- Peers: EV/EBITDA247.55 – 414.54 (Mid 255.52)5 companies used · median multiple 8.9x · quartiles 8.6x – 13.8xCHEF, DIT, SYY, UNFI, USFD
- Peers: P/E472.14 – 702.53 (Mid 596.50)7 companies used · median multiple 33.8x · quartiles 26.8x – 39.8xCHEF, DIT, PFGC, RAVE, SYY, UNFI, USFD
- Dividend discount (DDM)91.46 – 123.00 (Mid 104.91)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 63/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 11.9% | 89 (vs peers) | 7% |
| FCF conversion · Quality | 109.5% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 2.9% | 24 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 11.9% | 80 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 1.0x | 40 (vs peers) | 12% |
| Interest coverage · Balance sheet | 5.0x | 53 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 0.5x | 0 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 19.3x | 86 (vs peers) | 12% |
| EV/EBITDA · Valuation | 11.5x | 40 (vs peers) | 12% |
| FCF yield · Valuation | 5.8% | 73 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 5.7% | 81 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 37.5% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet36/100 · 3/3 factors with a value
- Growth52/100 · 2/2 factors with a value
- Quality94/100 · 2/3 factors with a value
- Returns88/100 · 2/2 factors with a value
- Valuation66/100 · 3/3 factors with a value
Memo
Domino’s Pizza, Inc. (DPZ). Latest full fiscal year: 2025; data up to 2026-09-06.
Figures computed from the financial statements: revenue 4.9 bn USD in 2025; YoY growth 5.0%; net margin 11.9%; net debt/EBITDA 1.0x.
The estimated value range is 272.28–449.95 USD per share (median of 4 methods, agreement: medium); assumptions are illustrative. Against the central value of 312.23 USD, the price of 340.69 USD leaves a potential of -8.4% (value / price − 1) and a margin of safety of -9.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 63/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 11.9%
- FCF conversion: 109.5%
- EPS CAGR 3Y: 11.9%
- P/E (TTM): 19.3x
- FCF yield: 5.8%
- Shareholder yield (distributions): 5.7%
- Payout ratio (FCF): 37.5%
What contradicts it
- Revenue CAGR 3Y: 2.9%
- Current ratio: 0.5x
Not assessed (insufficient data or a ratio without meaning): ROIC.
Versus the vertical median
Wholesale — nondurable goods (SIC 514x) · same industry group (3-digit SIC) · compared with 9 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 | |
|---|---|---|---|---|---|---|
| SYYSysco Corporation | 37.9 bn | 20.5 | 59.1% | 2.1% | +3.9% | +1% / +7% |
| USFDUs Foods Holding Corp. | 23.8 bn | 33.8 | 16.4% | 1.8% | +4.1% | +40% / +151% |
| PFGCPerformance Food Group Company | 17.3 bn | 43.7 | 8.2% | 0.6% | +7.2% | +13% / +68% |
| DPZDomino’s Pizza, Inc. | 11.2 bn | 19.3 | — | 11.9% | +5.0% | −16% / −6% |
| CHEFChefs’ Warehouse, Inc. | 4.6 bn | 46.5 | 16.2% | 2.3% | +9.4% | +74% / +297% |
| UNFIUnited Natural Foods, Inc. | 2.9 bn | 36.0 | 5.3% | 0.3% | −2.0% | +29% / +232% |
| HFFGHf Foods Group Inc. | 80.3 m | — | -15.5% | -2.8% | +2.2% | −41% / −69% |
| DITAmcon Distributing Co | 59.4 m | 33.1 | 1.6% | 0.1% | +3.9% | −19% / −48% |
| RAVERave Restaurant Group, Inc. | 31.1 m | 11.0 | 18.3% | 22.3% | +7.2% | −31% / −4% |
| MWYNMarwynn Holdings, Inc. | 27.7 m | — | -54.7% | -24.7% | +427.5% | +59% / unavailable |
1- and 3-year price returns: for DPZ 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 (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 203.74 Total return -38% · Per year -38% | 360.48 Total return 8% · Per year 8% | 543.38 Total return 62% · Per year 62% |
| 3 years | 191.33 Total return -39% · Per year -15% | 381.52 Total return 19% · Per year 6% | 632.34 Total return 95% · Per year 25% |
| 5 years | 179.68 Total return -39% · Per year -9% | 403.78 Total return 31% · Per year 6% | 735.87 Total return 132% · Per year 18% |
- Exit P/E± 95.38
- Net margin± 66.77
- Annual revenue growth± 55.67
- Annual dilution± 5.61
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 is the largest pizza company in the world, with a mostly franchised model in which revenue comes mainly from royalties and from its supply chain. Same store sales growth in the U.S. has slowed sharply in 2026, while revenue and operating income continue to rise, supported by a global network of more than 22,700 locations 2.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Intense competitionmedium
Pizza chains, aggregators and grocery and meal providers could pressure prices and market share if the company cannot maintain its position 1.
- Food and labor costshigh
Cheese and wages are the largest costs, and their increase could reduce margins for franchisees and company stores 1.
- Network expansion shortfallmedium
If new store openings slow or closures rise, royalty and supply chain revenues could be affected 1.
- Single-supplier dependencemedium
U.S. cheese and most meat toppings come from single suppliers, which could expose the company to disruption or less favorable terms 1.
- China investment risklow
The equity stake in DPC Dash, the China master franchisee, is described as inherently risky, and its failure could lead to loss of invested value 1.
Investment thesis
What would need to be true (bull case)
- Revenue and operating income continued to grow in 2026, supported by the global network and a supply chain with rising margins, showing that the model can generate steady cash 3.
- Market leadership in the U.S. with a rising share and a strong global brand could support further expansion 1.
- The asset-light franchise model and experienced franchisees may reduce the capital needed for growth 1.
What would break the thesis
- U.S. same store sales rose very little in the third quarter of 2026, which could signal weakening demand in existing stores 3.
- Free cash flow declined in 2026, and repurchases of more than 300 million USD could limit financial flexibility if results weaken 3.
- Cost and competitive pressures could reduce franchisee margins and slow new store openings 1.
What to watch
- Trend in U.S. same store salesQ4 2026
- Net new store openings outside the U.S.2027
- Development of supply chain gross marginnext 10-K
- Free cash flow and the pace of share repurchasesQ1 2027
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 is primarily a franchisor: about 99% of its global stores are operated by independent franchisees, and the company earns percent-of-sales royalties, fees and revenue from selling food and other products to franchisees through its supply chain, mainly in the U.S. and Canada 1. The model is described as asset-light, with limited capital invested by the company 1. Growth comes from retail sales at its stores, driven by same store sales growth and net store openings 1.
The company's Hungry for MORE strategy aims to generate more sales, more stores and more profits, supported by what it calls the best pizza in the industry, operational excellence, renowned value and best-in-class franchisees 1. In the third quarter of 2026, total revenues rose 3.4% year over year and income from operations rose 8.3% 3. The results release also announced a new chief executive 3.
Capital allocation includes quarterly dividends and share repurchases: in the three fiscal quarters of 2026 the company repurchased shares for 304.9 million USD, and 1.15 billion USD of repurchase authorization remained at September 6, 2026 3. Free cash flow declined over the same period, partly due to the timing of advertising payments and changes in operating assets and liabilities 3.
Segments
Market context
The U.S. QSR pizza category grew from 42.8 billion USD to 43.4 billion USD between 2024 and 2025, and Domino's holds about 23.3% of it, leading in both delivery and carryout 1. The market is fragmented, with the four largest players accounting for about 61% of U.S. pizza delivery 1. Internationally, demand for pizza delivery and carryout is described as large and growing 1.
Global retail sales growth excluding foreign currency impact was 3.2% in the third quarter of 2026, while international same store sales rose 0.2% 3. Network expansion remains the main growth driver, with 175 net new stores added in the third quarter 3.
Trends
- Network expansiontailwind
The company added 175 net stores in the third quarter of 2026 and now operates more than 22,700 locations, supporting royalty and supply chain revenue 3. Network growth is a central pillar of the Hungry for MORE strategy 1.
- Food and labor cost pressureheadwind
Cheese, the largest food cost, along with rising minimum wages, could reduce franchisee and company store margins if these costs cannot be passed on to customers 1. The company notes that most of these cost factors are beyond its control 1.
- Online ordering through aggregatorsmixed
Partnerships with delivery platforms such as Uber and DoorDash extend ordering channels, but the company acknowledges that profitability on these platforms could be lower than on its own channels 1. The net effect depends on how these costs are managed 1.
Competitive position
In the U.S. the main competitors are Pizza Hut, Papa John's and Little Caesars Pizza, alongside regional, independent and local establishments 1. Competition centers on quality, location, service, technology, convenience and price, and order aggregators add pressure on customers and drivers 1. Abroad, Pizza Hut and Papa John's are the main rivals, along with national, regional and local pizzerias 1.
The company identifies intensifying competition from delivery apps, supermarkets and meal kit providers as a key risk 1. If its competitive position weakens, it could face downward pressure on prices and loss of market share 1.
- Pizza Hut
Main national chain competitor in the U.S. and abroad, named in the annual report 1.
- Papa John's
National pizza chain competing directly with Domino's in the U.S. and internationally 1.
- Little Caesars Pizza
U.S. national competitor named in the delivery and carryout pizza segments 1.
- Uber and DoorDash
Order aggregation platforms that are both distribution partners and competitors for customers and drivers 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Domino’s Pizza Rallies 5%, Chipotle Edges Higher: Does a Low P/E Signal Value After a 19% YTD Drop?Yahoo Finance — News · 28 Aug 2026 · EN
- Domino’s Pizza Enterprises Slides Most Since February on SalesBloomberg Markets · 26 Aug 2026 · EN
- Here Are Monday’s Top Wall Street Analyst Research Calls: AstraZeneca, Celestica, Chipotle Mexican Grill, Domino’s Pizza, Fortune Brands, Golar LNG, Jersey Mike’s Subs, Roku, and MoreYahoo Finance — News · 24 Aug 2026 · EN
The latest news item in our archive is from 28 Aug 2026; the newest SEC filing is from 13 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report13 Oct 2026
- Current report13 Oct 2026Results of operations · Financial statements and exhibits
- Current report08 Oct 2026Departure or appointment of officers
- Quarterly report20 Jul 2026
- Current report20 Jul 2026Results of operations · Financial statements and exhibits
- Current report14 Jul 2026Departure or appointment of officers · Other events · Financial statements and exhibits
- Current report22 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report27 Apr 2026Departure or appointment of officers
- Quarterly report27 Apr 2026
- Current report27 Apr 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-28 · SEC / Domino's Pizza, Inc. · 23 Feb 2026
- [2] Form 10-Q, quarter ended 2026-09-06 · SEC / Domino's Pizza, Inc. · 13 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Domino's Pizza, Inc. · 13 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.