Latest Ratios: P/E Ratio 16.9x · EV/EBITDA 13.9x · ROE N/A. (2000–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.8B | $14.6B | $15.0B | $14.6B | $12.5B | $21.3B | $15.2B | $12.3B | $10.8B | $9.0B | $7.9B |
| Enterprise Value | $14.6B | $19.4B | $20.0B | $19.7B | $17.7B | $26.4B | $19.4B | $16.5B | $14.3B | $12.1B | $10.1B |
| P/E Ratio → | 16.87 | 24.22 | 25.63 | 28.12 | 27.65 | 41.68 | 30.95 | 30.73 | 29.70 | 32.41 | 37.03 |
| P/S Ratio | 1.99 | 2.95 | 3.18 | 3.26 | 2.76 | 4.88 | 3.69 | 3.40 | 3.13 | 3.23 | 3.22 |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/FCF | 14.60 | 21.70 | 29.24 | 30.06 | 32.22 | 37.98 | 30.16 | 29.94 | 39.19 | 36.18 | 34.76 |
| P/OCF | 12.38 | 18.40 | 23.96 | 24.70 | 26.30 | 32.51 | 25.64 | 24.78 | 27.27 | 26.57 | 27.67 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.92 | 4.25 | 4.40 | 3.90 | 6.06 | 4.71 | 4.55 | 4.15 | 4.35 | 4.08 |
| EV / EBITDA | 13.94 | 18.49 | 20.67 | 21.87 | 20.86 | 30.95 | 24.52 | 23.90 | 22.80 | 21.44 | 20.51 |
| EV / EBIT | 15.31 | 20.04 | 21.77 | 23.19 | 22.95 | 32.31 | 26.72 | 26.01 | 24.79 | 23.20 | 22.23 |
| EV / FCF | — | 28.84 | 39.03 | 40.56 | 45.60 | 47.17 | 38.47 | 40.05 | 51.98 | 48.70 | 44.14 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.0% | 40.0% | 39.3% | 38.6% | 36.3% | 38.7% | 38.7% | 38.8% | 37.9% | 31.1% | 31.0% |
| Operating Margin | 19.3% | 19.3% | 18.7% | 18.3% | 16.9% | 17.9% | 17.6% | 17.4% | 16.7% | 18.7% | 18.4% |
| Net Profit Margin | 12.2% | 12.2% | 12.4% | 11.6% | 10.0% | 11.7% | 11.9% | 11.1% | 10.5% | 10.0% | 8.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | — | — | — |
| ROA | 34.0% | 34.0% | 34.2% | 31.7% | 27.6% | 31.5% | 33.3% | 35.0% | 41.5% | 35.8% | 28.3% |
| ROIC | 73.5% | 73.5% | 63.6% | 60.6% | 59.5% | 64.3% | 66.7% | 78.0% | 101.0% | 121.3% | 119.7% |
| ROCE | 137.8% | 137.8% | 140.4% | 74.7% | 71.5% | 71.7% | 71.7% | 86.5% | 118.3% | 138.8% | 123.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | 4.99 | 4.99 | 5.38 | 5.79 | 6.19 | 6.20 | 5.51 | 6.31 | 5.65 | 5.58 | 4.45 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / EBITDA | 4.58 | 4.58 | 5.18 | 5.66 | 6.12 | 6.03 | 5.30 | 6.03 | 5.61 | 5.51 | 4.36 |
| Debt / FCF | — | 7.15 | 9.79 | 10.50 | 13.38 | 9.18 | 8.31 | 10.11 | 12.78 | 12.52 | 9.38 |
| Interest Coverage | 4.93 | 4.93 | 4.69 | 4.32 | 3.89 | 4.26 | 4.21 | 4.20 | 3.93 | 4.27 | 4.13 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.65 | 1.65 | 0.56 | 1.49 | 1.47 | 1.46 | 1.85 | 1.74 | 1.49 | 1.46 | 1.23 |
| Quick Ratio | 1.50 | 1.50 | 0.52 | 1.34 | 1.32 | 1.34 | 1.70 | 1.62 | 1.37 | 1.36 | 1.13 |
| Cash Ratio | 0.80 | 0.80 | 0.12 | 0.21 | 0.11 | 0.25 | 0.36 | 0.42 | 0.07 | 0.09 | 0.11 |
| Asset Turnover | — | 2.74 | 2.71 | 2.67 | 2.83 | 2.61 | 2.63 | 2.62 | 3.78 | 3.33 | 3.45 |
| Inventory Turnover | 37.46 | 37.46 | 40.30 | 33.17 | 35.41 | 39.06 | 37.83 | 41.85 | 46.33 | 48.10 | 42.43 |
| Days Sales Outstanding | — | 24.70 | 23.97 | 23.04 | 20.71 | 21.39 | 21.68 | 21.21 | 20.21 | 22.74 | 22.20 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 1.6% | 1.4% | 1.2% | 1.3% | 0.7% | 0.8% | 0.9% | 0.9% | 0.9% | 0.9% |
| Payout Ratio | 39.4% | 39.4% | 35.9% | 32.7% | 34.8% | 27.3% | 24.8% | 26.4% | 25.5% | 30.3% | 34.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 4.1% | 3.9% | 3.6% | 3.6% | 2.4% | 3.2% | 3.3% | 3.4% | 3.1% | 2.7% |
| FCF Yield | 6.8% | 4.6% | 3.4% | 3.3% | 3.1% | 2.6% | 3.3% | 3.3% | 2.6% | 2.8% | 2.9% |
| Buyback Yield | 3.6% | 2.5% | 2.2% | 1.8% | 2.3% | 6.2% | 2.0% | 5.7% | 5.5% | 11.8% | 3.8% |
| Total Shareholder Yield | 6.0% | 4.1% | 3.6% | 3.0% | 3.6% | 6.9% | 2.8% | 6.5% | 6.4% | 12.7% | 4.7% |
| Shares Outstanding | — | $34M | $35M | $35M | $36M | $38M | $40M | $42M | $43M | $48M | $50M |
Includes 30+ ratios · 25 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying DPZ stock.
Domino's Pizza, Inc.'s current P/E ratio is 16.9x. The historical average is 24.7x. This places it at the 18th percentile of its historical range.
Domino's Pizza, Inc.'s current EV/EBITDA is 13.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.9x.
Based on historical data, Domino's Pizza, Inc. is trading at a P/E of 16.9x. This is at the 18th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Domino's Pizza, Inc.'s current dividend yield is 2.33% with a payout ratio of 39.4%.
Domino's Pizza, Inc. has 40.0% gross margin and 19.3% operating margin. Operating margin between 10-20% is typical for established companies.
Domino's Pizza, Inc.'s Debt/EBITDA ratio is 5.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
High leverage and margin pressure
Metrics are mathematically derived from official filings.
Stable Margins Mask Mix Shift
Gross margin held near 40% for ten quarters, per financial statements, while operating margin slipped to 19.4% in 2026Q2 from 19.7% a year earlier, suggesting cost absorption pressures.
The stability in gross margin around 40% reflects effective pass-through pricing in the supply chain, but the slight operating margin decline indicates that SG&A and labor costs are absorbing incremental revenue. This suggests that the shift toward carryout, while operationally efficient, may not be fully offsetting delivery-related cost pressures. Investors should monitor whether this margin erosion is a temporary blip or the beginning of a structural trend.
ROIC Volatility Signals Efficiency
ROIC swung from 26.3% in 2025Q4 to 17.7% in 2026Q2, based on reported figures, indicating that capital efficiency is highly sensitive to quarterly revenue and cost timing.
The wide quarterly swings in ROIC, from 14.4% to 26.3% over the past ten quarters, suggest that the company's returns are not steadily compounding but rather fluctuating with operational leverage and seasonal factors. The 2025Q4 spike likely reflects a high revenue quarter, while the recent decline aligns with the EPS miss and margin pressure. This volatility implies that DPZ's earning power is not as stable as the headline margins suggest, and investors should focus on the trend over multiple quarters.
Working Capital Efficiency Steady
Cash conversion cycle remained tight at 15 days in 2026Q2, per financial statements, with DSO stable near 21 days, indicating disciplined receivables management despite revenue deceleration.
The consistent CCC of around 15-20 days over the past ten quarters reflects a business model where franchisees pay promptly for supply chain purchases, and inventory turns are rapid. This efficiency is a key support for cash flow generation, allowing DPZ to fund its aggressive buyback program without straining liquidity. However, the slight uptick in DSO from 21 to 23 days in early 2026 warrants monitoring, as it could signal a shift in franchisee payment behavior.
Leverage Elevated, Coverage Adequate
D/EBITDA rose to 23.15 in 2026Q2 from 15.89 in 2025Q4, as reported in financial statements, while interest coverage remained above 4.8x, indicating manageable but rising debt service.
The sharp increase in D/EBITDA is partly due to lower EBITDA in the quarter, but it also reflects the company's ongoing reliance on debt to fund buybacks. Interest coverage of 4.8x suggests that operating income comfortably covers interest expense, but the trend is concerning if EBITDA continues to soften. Given the negative equity, traditional leverage metrics are distorted, and investors should focus on cash flow coverage and refinancing risk in a higher-rate environment.
Liquidity Buffer Thins, Still Adequate
Current ratio improved to 1.54 in 2026Q2 from 0.60 in 2025Q2, per balance sheet data, but cash dropped to $164.8M from $434.0M, indicating a thinner short-term cushion.
The improvement in the current ratio is largely due to a reduction in current liabilities, not an increase in cash, which fell significantly. This suggests that DPZ is managing its working capital tightly, but the lower cash balance reduces its ability to absorb unexpected shocks. The quick ratio of 1.41 indicates that inventory is not a major liquidity concern, but the overall buffer is less robust than it appears from the ratio alone.
Misapplied P/E Overstates Value
The P/E of 19.77, based on reported earnings, is misleading because it ignores the substantial debt-funded buybacks that have reduced share count and inflated EPS growth.
For a company with negative equity and a leveraged recapitalization model, P/E is not a reliable valuation metric because it does not account for the financial risk embedded in the capital structure. A more appropriate measure is EV/EBITDA, which at 15.55 is still elevated but provides a clearer picture of the company's total value relative to its operating cash flow. Investors should also consider the sustainability of buybacks in a higher-rate environment, as EPS growth driven by share reduction may not be repeatable.