The company's capital structure is defined by a $5.1B debt load and a negative equity position of $3.9B, which warrants caution regarding long-term solvency risks.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Jan'23 | Jan'22 | Jan'21 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'01 | Dec'00 |
|---|
| Total Current Assets | 948.99M | 894.2M | 905.28M | 817.29M | 790.65M | 860.54M | 869.38M | 787.62M | 566.95M | 579.78M | 495.87M | 602.64M | 428.36M | 351.54M | 306.27M | 326.84M | 305.04M | 278.67M | 254.25M | 226.88M | 166.31M | 221.35M | 189.49M | 183M | 59M | 41.9M |
| Cash & Short-Term Investments | 232.92M | 433.99M | 186.13M | 114.1M | 60.36M | 148.16M | 168.82M | 190.62M | 25.44M | 35.77M | 42.81M | 133.45M | 30.86M | 14.38M | 54.81M | 86.57M | 84.08M | 67.51M | 45.37M | 11.34M | 38.22M | 66.92M | 40.4M | 42.85M | 59M | 41.9M |
| Cash Only | 232.92M | 433.99M | 186.13M | 114.1M | 60.36M | 148.16M | 168.82M | 190.62M | 25.44M | 35.77M | 42.81M | 133.45M | 30.86M | 14.38M | 54.81M | 50.29M | 47.95M | 42.39M | 45.37M | 11.34M | 38.22M | 66.92M | 40.4M | 42.85M | 59M | 41.9M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36.28M | 36.13M | 25.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 306.1M | 334.36M | 309.1M | 282.81M | 257.49M | 255.33M | 244.56M | 210.26M | 190.09M | 173.68M | 150.37M | 131.58M | 118.39M | 105.78M | 95.96M | 88.14M | 81.92M | 77.35M | 70.02M | 68.89M | 66.69M | 74.84M | 74.9M | 68.36M | 0 | 0 |
| Days Sales Outstanding | 22.04 | 24.7 | 23.97 | 23.04 | 20.71 | 21.39 | 21.68 | 21.21 | 20.21 | 22.74 | 22.2 | 21.67 | 21.67 | 21.42 | 20.87 | 19.47 | 19.03 | 20.11 | 17.93 | 17.19 | 16.94 | 18.07 | 18.9 | 18.71 | - | - |
| Inventory | 69.15M | 79.19M | 70.92M | 82.96M | 81.57M | 68.33M | 66.68M | 52.95M | 45.98M | 39.96M | 40.18M | 36.86M | 37.94M | 30.32M | 31.06M | 30.7M | 27M | 25.89M | 24.34M | 24.93M | 22.8M | 24.23M | 21.5M | 19.48M | 0 | 0 |
| Days Inventory Outstanding | 8.84 | 9.74 | 9.06 | 11 | 10.31 | 9.34 | 9.65 | 8.72 | 7.88 | 7.59 | 8.6 | 8.77 | 9.9 | 8.83 | 9.63 | 9.48 | 8.7 | 9.29 | 8.37 | 8.39 | 7.91 | 7.85 | 7.18 | 7.17 | - | - |
| Other Current Assets | 299.44M | 39.77M | 339.13M | 307.2M | 353.95M | 361.48M | 365.15M | 314.66M | 279.74M | 311.99M | 244.87M | 280.1M | 208.6M | 182.68M | 113.22M | 145.47M | 102.28M | 101.76M | 87.9M | 110.62M | 24.75M | 41.58M | 39.13M | 32.73M | 0 | 0 |
| Total Non-Current Assets | 895.5M | 907.21M | 831.74M | 857.61M | 811.57M | 811.28M | 697.78M | 594.48M | 340.43M | 256.97M | 220.42M | 197.21M | 190.92M | 173.72M | 171.93M | 153.7M | 155.8M | 175.09M | 209.54M | 246.28M | 213.9M | 239.73M | 257.86M | 265.57M | 0 | 0 |
| Property, Plant & Equipment | 386.73M | 543.51M | 511.48M | 511.69M | 521.44M | 534.77M | 525.63M | 471.67M | 234.94M | 169.59M | 138.53M | 131.89M | 114.05M | 97.58M | 91.44M | 92.4M | 97.38M | 102.78M | 108.43M | 122.89M | 117.14M | 131.46M | 136.88M | 127.07M | 0 | 0 |
| Fixed Asset Turnover | 10.17x | 9.09x | 9.20x | 8.75x | 8.70x | 8.15x | 7.83x | 7.67x | 14.61x | 16.44x | 17.85x | 16.81x | 17.48x | 18.47x | 18.35x | 17.88x | 16.13x | 13.66x | 13.14x | 11.90x | 12.27x | 11.50x | 10.57x | 10.49x | - | - |
| Goodwill | 10.69M | 10.73M | 11.58M | 11.69M | 11.76M | 15.03M | 15.06M | 15.09M | 14.92M | 15.42M | 16.06M | 16.1M | 16.3M | 16.6M | 16.6M | 16.65M | 17.36M | 17.61M | 17.68M | 20.77M | 21.32M | 0 | 0 | 23.43M | 0 | 0 |
| Intangible Assets | 158.77M | 159.26M | 155.03M | 134.1M | 108.35M | 95.56M | 81.31M | 73.14M | 63.81M | 52.82M | 40.26M | 28.5M | 20.56M | 14.46M | 11.39M | 8.18M | 7.79M | 3.23M | 3.67M | 43.27M | 16.14M | 22.08M | 22.95M | 27.2M | 0 | 0 |
| Long-Term Investments | 181.44M | 61.04M | 82.7M | 143.55M | 125.84M | 125.84M | 13.25M | 11.98M | 8.72M | 8.12M | 7.26M | 6.05M | 4.59M | 3.27M | 2.1M | 1.54M | 1.19M | 1.41M | 1.26M | 0 | 0 | 0 | 0 | 4.16M | 0 | 0 |
| Other Non-Current Assets | 290.59M | 25.63M | 47.52M | 42.89M | 42.25M | 37.97M | 60.63M | 12.52M | 12.52M | 8.27M | 9.38M | 8.8M | 32.95M | 38.63M | 46.45M | 30.08M | 23.43M | 28.23M | 35.46M | 10.88M | 17.39M | 45.16M | 51.91M | 31.68M | 0 | 0 |
| Total Assets | 1.84B | 1.8B | 1.74B | 1.67B | 1.6B | 1.67B | 1.57B | 1.38B | 907.38M | 836.75M | 716.29M | 799.85M | 619.28M | 525.25M | 478.2M | 480.54M | 460.84M | 453.76M | 463.79M | 473.16M | 380.2M | 461.07M | 447.35M | 448.57M | 406.4M | 386.4M |
| Asset Turnover | 2.80x | 2.74x | 2.71x | 2.67x | 2.83x | 2.61x | 2.63x | 2.62x | 3.78x | 3.33x | 3.45x | 2.77x | 3.22x | 3.43x | 3.51x | 3.44x | 3.41x | 3.09x | 3.07x | 3.09x | 3.78x | 3.28x | 3.23x | 2.97x | 3.10x | 3.02x |
| Asset Growth % | -6.93% | 3.71% | 3.71% | 4.54% | -4.16% | 6.68% | 13.39% | 52.32% | 8.44% | 16.82% | -10.45% | 29.16% | 17.9% | 9.84% | -0.49% | 4.28% | 1.56% | -2.16% | -1.98% | 24.45% | -17.54% | 3.07% | -0.27% | 10.38% | 5.18% | - |
| Total Current Liabilities | 592M | 541.62M | 1.61B | 547.35M | 536.62M | 590.74M | 470.82M | 453.83M | 379.74M | 398.29M | 403.7M | 375.98M | 265.61M | 254.61M | 229.5M | 197.18M | 186.13M | 219.42M | 149.55M | 175.51M | 155.2M | 217.38M | 189.67M | 184.26M | 0 | 0 |
| Accounts Payable | 124.38M | 135.03M | 85.9M | 106.27M | 89.72M | 91.55M | 94.5M | 111.1M | 92.55M | 106.89M | 111.51M | 106.93M | 86.55M | 83.41M | 77.41M | 69.71M | 56.6M | 64.12M | 56.91M | 60.41M | 55.04M | 60.33M | 55.35M | 53.39M | 0 | 0 |
| Days Payables Outstanding | 15.4 | 16.61 | 10.97 | 14.09 | 11.34 | 12.52 | 13.67 | 18.3 | 15.86 | 20.3 | 23.87 | 25.45 | 22.58 | 24.29 | 24 | 21.53 | 18.25 | 23.01 | 19.56 | 20.34 | 19.08 | 19.55 | 18.49 | 19.64 | - | - |
| Short-Term Debt | 7.41M | 53.68M | 1.15B | 56.37M | 54.81M | 55.59M | 2.85M | 43.39M | 35.25M | 32.32M | 38.89M | 59.33M | 565K | 24.14M | 24.35M | 904K | 835K | 75.49M | 340K | 15.31M | 1.48M | 35.3M | 25.3M | 18.57M | 0 | 0 |
| Deferred Revenue (Current) | 4.8M | 4.8M | 0 | 0 | 5.5M | 232.71M | 196.43M | 164.1M | 144.15M | 138.84M | 134.92M | 110.56M | 106.44M | 102.36M | 89.82M | 80.21M | 78.79M | 12.03M | 0 | 69.97M | 70.83M | 76.43M | 76.2M | 72.33M | 0 | 0 |
| Other Current Liabilities | 139.75M | 294.9M | 185.43M | 187.07M | 157.91M | 29.09M | 29.64M | 7.77M | 26.17M | -18.62M | -16.55M | -11.4M | 18.05M | -3.91M | -12.07M | 857K | 22.48M | 50.43M | 30.43M | 16.49M | 6.17M | 15.56M | 6.96M | -32.35M | 0 | 0 |
| Current Ratio | 1.60x | 1.65x | 0.56x | 1.49x | 1.47x | 1.46x | 1.85x | 1.74x | 1.49x | 1.46x | 1.23x | 1.60x | 1.61x | 1.38x | 1.33x | 1.66x | 1.64x | 1.27x | 1.70x | 1.29x | 1.07x | 1.02x | 1.00x | 0.99x | - | - |
| Quick Ratio | 1.49x | 1.50x | 0.52x | 1.34x | 1.32x | 1.34x | 1.70x | 1.62x | 1.37x | 1.36x | 1.13x | 1.50x | 1.47x | 1.26x | 1.20x | 1.50x | 1.49x | 1.15x | 1.54x | 1.15x | 0.92x | 0.91x | 0.89x | 0.89x | - | - |
| Cash Conversion Cycle | 15.48 | 17.83 | 22.06 | 19.95 | 19.69 | 18.21 | 17.66 | 11.63 | 12.23 | 10.03 | 6.93 | 4.99 | 8.99 | 5.96 | 6.49 | 7.42 | 9.49 | 6.39 | 6.74 | 5.24 | 5.76 | 6.37 | 7.6 | 6.24 | - | - |
| Total Non-Current Liabilities | 5.16B | 5.16B | 4.09B | 5.2B | 5.25B | 5.29B | 4.4B | 4.34B | 3.57B | 3.17B | 2.2B | 2.22B | 1.57B | 1.56B | 1.58B | 1.49B | 1.49B | 1.56B | 1.74B | 1.75B | 789.89M | 754.67M | 807.56M | 982.27M | 611.5M | 664.6M |
| Long-Term Debt | 4.88B | 4.94B | 3.83B | 4.87B | 4.9B | 4.94B | 4.06B | 4.05B | 3.48B | 3.12B | 2.15B | 2.18B | 1.52B | 1.51B | 1.54B | 1.45B | 1.45B | 1.52B | 1.7B | 1.7B | 740.12M | 702.36M | 755.4M | 941.16M | 611.5M | 664.6M |
| Capital Lease Obligations | 826.15M | 239.91M | 181.98M | 248.25M | 266.13M | 256.72M | 259.97M | 220.99M | 16.36M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 84.95M | 84.95M | 0 | 0 | 7.76M | 3.92M | 6.1M | 0 | 35.7M | 0 | 0 | 0 | 5.59M | 7.83M | 7M | 5.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 79.49M | -115.04M | 79.2M | 84.31M | 61.54M | 63.28M | 57.37M | 70.23M | 71.87M | 52.36M | 46.75M | 42.65M | 44M | 40.72M | 40.78M | 37.72M | 34.04M | 32.87M | 34.42M | 43.02M | 49.77M | 52.32M | 52.16M | 41.11M | 0 | 0 |
| Total Liabilities | 5.75B | 5.7B | 5.7B | 5.75B | 5.79B | 5.88B | 4.87B | 4.8B | 3.95B | 3.57B | 2.6B | 2.6B | 1.84B | 1.82B | 1.81B | 1.69B | 1.67B | 1.77B | 1.89B | 1.92B | 945.1M | 972.06M | 997.23M | 1.17B | 611.5M | 664.6M |
| Total Debt | 5.14B | 5.23B | 5.2B | 5.21B | 5.25B | 5.29B | 4.36B | 4.35B | 3.53B | 3.15B | 2.19B | 2.24B | 1.52B | 1.54B | 1.56B | 1.45B | 1.45B | 1.6B | 1.7B | 1.72B | 741.6M | 737.66M | 780.7M | 959.74M | 611.5M | 664.6M |
| Net Debt | 4.9B | 4.8B | 5.01B | 5.1B | 5.19B | 5.14B | 4.19B | 4.16B | 3.51B | 3.12B | 2.15B | 2.11B | 1.49B | 1.52B | 1.51B | 1.4B | 1.4B | 1.56B | 1.66B | 1.71B | 703.38M | 670.74M | 740.3M | 916.88M | 552.5M | 622.7M |
| Debt / Equity | -1.31x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | 5.14x | 4.99x | 5.38x | 5.79x | 6.19x | 6.20x | 5.51x | 6.31x | 5.65x | 5.58x | 4.45x | 5.12x | 4.00x | 4.52x | 5.11x | 5.12x | 5.77x | 7.48x | 7.63x | 6.52x | 2.97x | 3.15x | 3.70x | 5.07x | 3.82x | 4.55x |
| Net Debt / EBITDA | 4.91x | 4.58x | 5.18x | 5.66x | 6.12x | 6.03x | 5.30x | 6.03x | 5.61x | 5.51x | 4.36x | 4.81x | 3.92x | 4.48x | 4.93x | 4.95x | 5.58x | 7.28x | 7.43x | 6.48x | 2.82x | 2.86x | 3.51x | 4.84x | 3.45x | 4.27x |
| Interest Coverage | 4.62x | 4.93x | 4.69x | 4.32x | 3.89x | 4.27x | 4.21x | 4.20x | 3.93x | 4.27x | 4.13x | 4.08x | 3.98x | 3.53x | 2.79x | 2.83x | 2.44x | 2.22x | 1.72x | - | - | - | - | 1.84x | - | - |
| Total Equity | -3.91B | -3.9B | -3.96B | -4.07B | -4.19B | -4.21B | -3.3B | -3.42B | -3.04B | -2.74B | -1.88B | -1.8B | -1.22B | -1.29B | -1.34B | -1.21B | -1.21B | -1.32B | -1.42B | -1.45B | -564.89M | -510.99M | -549.88M | -717.96M | -523.9M | -552.8M |
| Equity Growth % | -0.08% | 1.54% | 2.66% | 2.83% | 0.49% | -27.55% | 3.38% | -12.36% | -11.13% | -45.26% | -4.6% | -47.63% | 5.48% | 3.39% | -10.4% | 0.08% | 8.35% | 7.27% | 1.76% | -156.71% | -10.55% | 7.07% | 23.41% | -37.04% | 5.23% | - |
| Book Value per Share | -115.53 | -113.94 | -113.70 | -114.98 | -116.06 | -111.68 | -83.26 | -81.48 | -70.13 | -57.37 | -37.72 | -32.42 | -21.42 | -22.35 | -22.64 | -19.62 | -19.91 | -22.84 | -24.42 | -22.59 | -8.77 | -7.46 | -7.15 | -225.93 | -12.93 | -13.64 |
| Total Shareholders' Equity | -3.91B | -3.9B | -3.96B | -4.07B | -4.19B | -4.21B | -3.3B | -3.42B | -3.04B | -2.74B | -1.88B | -1.8B | -1.22B | -1.29B | -1.34B | -1.21B | -1.21B | -1.32B | -1.42B | -1.45B | -564.89M | -510.99M | -549.88M | -717.96M | -523.9M | -552.8M |
| Common Stock | 335K | 336K | 343K | 347K | 354K | 361K | 389K | 389K | 410K | 429K | 481K | 498K | 556K | 558K | 563K | 577K | 601K | 586K | 570K | 597K | 625K | 672K | 687K | 363K | 0 | 0 |
| Retained Earnings | -3.9B | -3.9B | -3.96B | -4.07B | -4.19B | -4.21B | -3.3B | -3.41B | -3.04B | -2.74B | -1.88B | -1.8B | -1.25B | -1.29B | -1.34B | -1.21B | -1.25B | -1.34B | -1.42B | -1.44B | -701.52M | -777.91M | -859.29M | -900.23M | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -5.1M | -4.77M | -7.43M | -3.87M | -4.69M | -2.82M | -2.42M | -3.74M | -4.43M | -2.03M | -3.11M | -3.55M | -2.66M | -1.98M | -2.39M | -2.4M | -2.74M | -4.11M | -5.34M | -5.8M | 2.07M | 6.55M | 6.31M | 9K | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
High Debt Leverage Sensitivity
According to recent financial statements, DPZ maintains a substantial debt load of $5.1B as of 2026Q1, which reflects a long-standing corporate strategy of utilizing levered recapitalizations to fund aggressive share repurchases rather than traditional balance sheet deleveraging or organic growth investment.
The persistent debt level suggests that management prioritizes capital returns over balance sheet conservatism, which may leave the company sensitive to interest rate volatility. Investors should monitor whether the cost of servicing this debt begins to impede the company's ability to maintain its historical pace of share count reduction.
As reported in quarterly filings, DPZ exhibits a persistent negative equity position of $3.9B in 2026Q1, a direct consequence of the company's multi-year commitment to returning capital to shareholders through buybacks that have consistently outpaced the accumulation of retained earnings.
This structural deficit in equity highlights the aggressive nature of the company's capital allocation, effectively trading book value for earnings-per-share accretion. While this may enhance return on equity metrics, it underscores a reliance on debt-funded capital structures that warrants careful scrutiny regarding long-term solvency.
Based on the provided data, DPZ reported a current ratio of 1.60 in 2026Q1, indicating that the company maintains sufficient short-term assets to cover immediate obligations despite the significant debt burden that characterizes the broader capital structure of the organization.
The fluctuation in liquidity, evidenced by the drop to 0.60 in previous periods, suggests that cash management is highly dynamic and potentially sensitive to the timing of debt maturities or large-scale capital returns. Maintaining this current ratio is essential for operational continuity given the company's reliance on a vertically integrated supply chain.
As indicated by the balance sheet, the most non-obvious risk is the potential for interest rate sensitivity to disrupt the company's capital allocation model, as the $5.1B debt load creates a fixed-cost burden that may limit strategic flexibility during periods of macroeconomic volatility.
The reliance on debt to sustain shareholder returns creates a feedback loop where the company must maintain high cash flow generation to avoid liquidity constraints. If the cost of debt capital remains elevated, the current model may face pressure, potentially forcing a pivot away from the aggressive buyback programs that have historically supported the stock.
Quick answers to the most common questions about buying DPZ stock.
As of 2025, Domino's Pizza, Inc. (DPZ) had total assets of $1.80B including $894.2M in current assets.
Domino's Pizza, Inc. (DPZ) carries total debt of $5.23B, offset by $434.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Domino's Pizza, Inc. (DPZ) has total shareholders' equity (book value) of $-3901.1M ($-113.94 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Domino's Pizza, Inc. (DPZ) reported a current ratio of 1.65x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.