Dominos Pizza
DPZ · NasdaqWholesale-Groceries & Related Products · Fiscal year ends Jan 2
Dominos Pizza reported revenue of $4.9B in the fiscal year ended Dec 2025, up 5.0% from the year before. Operating income was $954M, an operating margin of 19.3%, and net income was $602M. Operating cash flow of $792M less capital expenditure of $121M left free cash flow of $672M. It held more cash than debt (net cash $111M).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | – | $4.5B | $4.5B | $4.7B | $4.9B |
| Cost of revenue | – | $2.9B | $2.8B | $2.9B | $3B |
| Gross profit | – | $1.6B | $1.7B | $1.8B | $2B |
| Operating income | $768M | $768M | $820M | $879M | $954M |
| Interest expense | $198M | $198M | $196M | $196M | $196M |
| Pre-tax income | $573M | $573M | $652M | $722M | $770M |
| Income tax | – | $121M | $133M | $138M | $169M |
| Net income | – | $452M | $519M | $584M | $602M |
| Diluted EPS | – | 12.53 | 14.66 | 16.69 | 17.57 |
| Diluted shares | – | 36M | 35M | 35M | 34M |
Balance sheet
| Fiscal year | Dec 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | – | $60M | $114M | $186M | $126M |
| Receivables | – | $257M | $283M | $309M | $316M |
| Inventory | – | $82M | $83M | $71M | $79M |
| Current assets | – | $791M | $817M | $905M | $894M |
| Net PP&E | – | $302M | $304M | $301M | $324M |
| Goodwill | – | $12M | $12M | $12M | $11M |
| Total assets | – | $1.6B | $1.7B | $1.7B | $1.7B |
| Payables | – | $90M | $106M | $86M | $135M |
| Deferred revenue | – | $6M | $5M | $5M | $5M |
| Current liabilities | – | $537M | $547M | $1.6B | $542M |
| Short-term debt | – | – | – | $100,000 | $100,000 |
| Long-term debt | – | $5B | $4.9B | $15M | $15M |
| Total liabilities | – | $5.8B | $5.7B | $5.7B | $5.6B |
| Shareholders' equity | – | −$4.2B | −$4.1B | −$4B | −$3.9B |
| Backlog (remaining obligations) | – | $28M | $25M | $21M | $17M |
Cash flow
| Fiscal year | Dec 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | – | $475M | $591M | $625M | $792M |
| Capital expenditure | – | $87M | $105M | $113M | $121M |
| Free cash flow | – | $388M | $485M | $512M | $672M |
| Depreciation & amortisation | $80M | $80M | $81M | $88M | $89M |
| Stock-based compensation | $29M | $29M | $38M | $43M | $45M |
| Share buybacks | – | $294M | $269M | $330M | $358M |
| Dividends paid | – | $158M | $170M | $210M | $237M |
| Dividend per share | – | 4.40 | 4.84 | 6.04 | 6.96 |
Key ratios
| Fiscal year | Dec 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | – | −1.3% | 5.1% | 5.0% |
| Operating income growth (YoY) | – | 0.0% | 6.7% | 7.3% | 8.5% |
| EPS growth (YoY) | – | – | 17.0% | 13.8% | 5.3% |
| Gross margin | – | 36.3% | 38.6% | 39.3% | 40.0% |
| Operating margin | – | 16.9% | 18.3% | 18.7% | 19.3% |
| Net margin | – | 10.0% | 11.6% | 12.4% | 12.2% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 72.1% | 72.7% | 705.7% | 81.2% |
| Free cash flow margin | – | 8.6% | 10.8% | 10.9% | 13.6% |
| Cash conversion (CFO ÷ net income) | – | 1.05x | 1.14x | 1.07x | 1.32x |
| Receivable days | – | 21 | 23 | 24 | 23 |
| Inventory days | – | 10 | 11 | 9 | 10 |
| Payable days | – | 11 | 14 | 11 | 17 |
| Interest cover | 3.87x | 3.87x | 4.17x | 4.49x | 4.87x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | $4.9B | $4.8B | −$171M | −$111M |
| Current ratio | – | 1.47x | 1.49x | 0.56x | 1.65x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.