Revenue growth remains stable at 3.5% in 2026Q1, while the company successfully maintains a 40.4% gross margin through its effective pass-through pricing model.
| 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 |
|---|
| Sales/Revenue | 4.98B | 4.94B | 4.71B | 4.48B | 4.54B | 4.36B | 4.12B | 3.62B | 3.43B | 2.79B | 2.47B | 2.22B | 1.99B | 1.8B | 1.68B | 1.65B | 1.57B | 1.4B | 1.43B | 1.46B | 1.44B | 1.51B | 1.45B | 1.33B | 1.26B | 1.17B |
| Revenue Growth % | 5.17% | 4.96% | 5.07% | -1.27% | 4.13% | 5.83% | 13.78% | 5.42% | 23.13% | 12.75% | 11.55% | 11.17% | 10.63% | 7.37% | 1.59% | 5.18% | 11.88% | -1.48% | -2.58% | 1.78% | -4.91% | 4.5% | 8.49% | 5.96% | 7.91% | - |
| Cost of Goods Sold | 2.98B | 2.97B | 2.86B | 2.75B | 2.89B | 2.67B | 2.52B | 2.22B | 2.13B | 1.92B | 1.7B | 1.53B | 1.4B | 1.25B | 1.18B | 1.18B | 1.13B | 1.02B | 1.06B | 1.08B | 1.05B | 1.13B | 1.09B | 992.1M | 944.5M | 868.1M |
| COGS % of Revenue | - | 60.05% | 60.72% | 61.44% | 63.66% | 61.26% | 61.27% | 61.24% | 62.05% | 68.94% | 68.95% | 69.18% | 70.17% | 69.54% | 70.13% | 71.52% | 72.08% | 72.44% | 74.51% | 74.1% | 73.25% | 74.51% | 75.55% | 74.41% | 75.06% | 74.44% |
| Gross Profit | 1.99B | 1.97B | 1.85B | 1.73B | 1.65B | 1.69B | 1.59B | 1.4B | 1.3B | 865.99M | 767.69M | 683.13M | 594.77M | 548.97M | 501.34M | 470.52M | 438.59M | 386.98M | 363.26M | 378.85M | 384.53M | 385.29M | 353.68M | 341.23M | 313.8M | 298M |
| Gross Margin % | 40.07% | 39.95% | 39.28% | 38.56% | 36.34% | 38.74% | 38.73% | 38.76% | 37.95% | 31.06% | 31.05% | 30.82% | 29.83% | 30.46% | 29.87% | 28.48% | 27.92% | 27.56% | 25.49% | 25.9% | 26.75% | 25.49% | 24.45% | 25.59% | 24.94% | 25.56% |
| Gross Profit Growth % | - | 6.77% | 7.01% | 4.78% | -2.35% | 5.88% | 13.69% | 7.66% | 50.43% | 12.8% | 12.38% | 14.86% | 8.34% | 9.5% | 6.55% | 7.28% | 13.34% | 6.53% | -4.12% | -1.48% | -0.2% | 8.94% | 3.65% | 8.74% | 5.3% | - |
| Operating Expenses | 1.02B | 1.02B | 969.5M | 906.45M | 880.68M | 907.83M | 868.85M | 773.09M | 730.99M | 344.76M | 313.65M | 277.69M | 249.41M | 235.16M | 219.01M | 211.37M | 210.89M | 197.47M | 168.23M | 184.94M | 170.33M | 186.18M | 182.3M | 181.75M | 186.7M | 185.6M |
| OpEx % of Revenue | - | 20.64% | 20.6% | 20.24% | 19.41% | 20.83% | 21.1% | 21.36% | 21.29% | 12.37% | 12.68% | 12.53% | 12.51% | 13.05% | 13.05% | 12.79% | 13.42% | 14.06% | 11.8% | 12.64% | 11.85% | 12.32% | 12.6% | 13.63% | 14.84% | 15.92% |
| Selling, General & Admin | 1.03B | 1.02B | 969.35M | 907.75M | 901.85M | 907.83M | 868.85M | 773.09M | 730.99M | 344.76M | 313.65M | 277.69M | 249.41M | 235.16M | 219.01M | 211.37M | 210.89M | 197.47M | 168.23M | 184.94M | 170.33M | 186.18M | 182.3M | 181.75M | 186.7M | 185.6M |
| SG&A % of Revenue | - | 20.72% | 20.6% | 20.27% | 19.88% | 20.83% | 21.1% | 21.36% | 21.29% | 12.37% | 12.68% | 12.53% | 12.51% | 13.05% | 13.05% | 12.79% | 13.42% | 14.06% | 11.8% | 12.64% | 11.85% | 12.32% | 12.6% | 13.63% | 14.84% | 15.92% |
| Research & Development | 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 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -2.14M | -4.03M | 158K | -1.3M | -21.17M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 975.24M | 953.97M | 879M | 819.52M | 767.92M | 780.41M | 725.64M | 629.41M | 571.69M | 521.23M | 454.04M | 405.44M | 345.36M | 313.81M | 282.33M | 259.14M | 227.7M | 189.51M | 195.03M | 193.91M | 214.2M | 199.1M | 171.38M | 159.47M | 127.1M | 112.4M |
| Operating Margin % | 19.59% | 19.31% | 18.68% | 18.3% | 16.93% | 17.91% | 17.62% | 17.39% | 16.65% | 18.7% | 18.36% | 18.29% | 17.32% | 17.41% | 16.82% | 15.68% | 14.5% | 13.5% | 13.69% | 13.26% | 14.9% | 13.17% | 11.85% | 11.96% | 10.1% | 9.64% |
| Operating Income Growth % | - | 8.53% | 7.26% | 6.72% | -1.6% | 7.55% | 15.29% | 10.1% | 9.68% | 14.8% | 11.99% | 17.4% | 10.05% | 11.15% | 8.95% | 13.81% | 20.15% | -2.83% | 0.58% | -9.47% | 7.58% | 16.18% | 7.47% | 25.47% | 13.08% | - |
| EBITDA | 998.79M | 1.05B | 966.73M | 900.16M | 848.18M | 853.33M | 790.68M | 689.34M | 625.35M | 565.6M | 492.18M | 437.87M | 381.15M | 339.59M | 305.5M | 283.19M | 251.75M | 213.57M | 223.41M | 263.7M | 249.84M | 234.54M | 210.89M | 189.29M | 160.2M | 146M |
| EBITDA Margin % | 20.06% | 21.21% | 20.54% | 20.1% | 18.69% | 19.58% | 19.2% | 19.05% | 18.22% | 20.29% | 19.91% | 19.75% | 19.12% | 18.84% | 18.2% | 17.14% | 16.03% | 15.21% | 15.68% | 18.03% | 17.38% | 15.52% | 14.58% | 14.2% | 12.73% | 12.52% |
| EBITDA Growth % | 3.26% | 8.37% | 7.4% | 6.13% | -0.6% | 7.92% | 14.7% | 10.23% | 10.56% | 14.92% | 12.4% | 14.88% | 12.24% | 11.16% | 7.88% | 12.49% | 17.88% | -4.4% | -15.28% | 5.55% | 6.53% | 11.21% | 11.41% | 18.16% | 9.73% | - |
| D&A (Non-Cash Add-back) | 73.27M | 93.63M | 87.73M | 80.64M | 80.25M | 72.92M | 65.04M | 59.93M | 53.66M | 44.37M | 38.14M | 32.43M | 35.79M | 25.78M | 23.17M | 24.04M | 24.05M | 24.06M | 28.38M | 69.79M | 35.65M | 35.44M | 39.51M | 29.82M | 33.1M | 33.6M |
| EBIT | 908.88M | 966.31M | 918.09M | 848.91M | 771.09M | 817.51M | 725.64M | 633.46M | 575.02M | 522.69M | 454.04M | 405.75M | 345.5M | 313.81M | 282.63M | 259.44M | 235.75M | 246.47M | 197.78M | 173.93M | 214.2M | 199.1M | 171.38M | 137.1M | 127.1M | 112.4M |
| Net Interest Income | -183.18M | -181.09M | -178.85M | -184.79M | -195.09M | -191.46M | -170.51M | -146.77M | -143.01M | -121.08M | -109.38M | -99.22M | -86.74M | -88.71M | -101.14M | -91.34M | -96.57M | -110.26M | -112.16M | 0 | 0 | 0 | 0 | -74.3M | 0 | 0 |
| Interest Income | 13.44M | 14.88M | 17.02M | 11.68M | 3.16M | 0 | 1.65M | 4.05M | 3.33M | 1.46M | 685K | 313K | 143K | 160K | 304K | 296K | 244K | 683K | 2.75M | 0 | 0 | 0 | 0 | 400K | 0 | 0 |
| Interest Expense | 196.61M | 195.97M | 195.87M | 196.47M | 198.25M | 191.46M | 172.17M | 150.82M | 146.34M | 122.54M | 110.07M | 99.54M | 86.88M | 88.87M | 101.45M | 91.64M | 96.81M | 110.94M | 114.91M | 0 | 0 | 0 | 0 | 74.7M | 0 | 0 |
| Other Income/Expense | -216.75M | -183.64M | -156.78M | -167.08M | -195.09M | -154.7M | -170.51M | -146.77M | -143.01M | -121.08M | -109.38M | -99.22M | -86.74M | -88.71M | -101.14M | -91.34M | -88.76M | -53.99M | -112.16M | -138.35M | -53.77M | -25.85M | -71.32M | -97.1M | -66.8M | -70.9M |
| Pretax Income | 758.5M | 770.34M | 722.22M | 652.44M | 572.83M | 625.71M | 555.13M | 482.64M | 428.68M | 400.15M | 344.66M | 306.21M | 258.62M | 225.1M | 181.19M | 167.81M | 138.94M | 135.52M | 82.87M | 55.56M | 160.43M | 173.25M | 100.06M | 62.44M | 60.3M | 41.5M |
| Pretax Margin % | 15.24% | 15.59% | 15.35% | 14.57% | 12.63% | 14.36% | 13.48% | 13.34% | 12.49% | 14.35% | 13.94% | 13.82% | 12.97% | 12.49% | 10.79% | 10.16% | 8.85% | 9.65% | 5.82% | 3.8% | 11.16% | 11.46% | 6.92% | 4.68% | 4.79% | 3.56% |
| Income Tax | 166.63M | 168.63M | 138.04M | 133.32M | 120.57M | 115.24M | 63.83M | 81.93M | 66.71M | 122.25M | 129.98M | 113.43M | 96.04M | 82.11M | 68.8M | 62.45M | 51.03M | 55.78M | 28.9M | 17.68M | 54.2M | 64.97M | 37.77M | 23.4M | 23.5M | 16.2M |
| Effective Tax Rate % | 21.97% | 21.89% | 19.11% | 20.43% | 21.05% | 18.42% | 11.5% | 16.98% | 15.56% | 30.55% | 37.71% | 37.04% | 37.13% | 36.48% | 37.97% | 37.21% | 36.73% | 41.16% | 34.87% | 31.82% | 33.78% | 37.5% | 37.75% | 37.48% | 38.97% | 39.04% |
| Net Income | 591.86M | 601.7M | 584.17M | 519.12M | 452.26M | 510.47M | 491.3M | 400.71M | 361.97M | 277.9M | 214.68M | 192.79M | 162.59M | 142.99M | 112.39M | 105.36M | 87.92M | 79.74M | 53.97M | 37.88M | 106.23M | 108.28M | 62.29M | 39.04M | 36.8M | 25.3M |
| Net Margin % | 11.89% | 12.18% | 12.41% | 11.59% | 9.97% | 11.71% | 11.93% | 11.07% | 10.54% | 9.97% | 8.68% | 8.7% | 8.15% | 7.93% | 6.7% | 6.38% | 5.6% | 5.68% | 3.79% | 2.59% | 7.39% | 7.16% | 4.31% | 2.93% | 2.92% | 2.17% |
| Net Income Growth % | -2.65% | 3% | 12.53% | 14.78% | -11.4% | 3.9% | 22.61% | 10.7% | 30.25% | 29.45% | 11.35% | 18.58% | 13.71% | 27.22% | 6.67% | 19.84% | 10.25% | 47.75% | 42.47% | -64.34% | -1.9% | 73.84% | 59.56% | 6.08% | 45.45% | - |
| Net Income (Continuing) | 591.86M | 601.7M | 584.17M | 519.12M | 452.26M | 510.47M | 491.3M | 400.71M | 361.97M | 277.9M | 214.68M | 192.79M | 162.59M | 142.99M | 112.39M | 105.36M | 87.92M | 79.74M | 53.97M | 37.88M | 106.23M | 108.28M | 62.29M | 39M | 36.8M | 25.3M |
| Discontinued Operations | 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 |
| 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 |
| EPS (Diluted) | 17.50 | 17.57 | 16.76 | 14.66 | 12.53 | 13.54 | 12.39 | 9.56 | 8.35 | 5.83 | 4.30 | 3.47 | 2.86 | 2.48 | 1.91 | 1.71 | 1.45 | 1.36 | 0.93 | 0.59 | 1.65 | 1.58 | 0.81 | 12.28 | 0.91 | 0.27 |
| EPS Growth % | -0.4% | 4.83% | 14.32% | 17% | -7.46% | 9.28% | 29.6% | 14.49% | 43.22% | 35.58% | 23.92% | 21.33% | 15.32% | 29.84% | 11.7% | 17.93% | 6.62% | 46.24% | 57.63% | -64.24% | 4.43% | 95.06% | -93.4% | 1249.45% | 237.04% | - |
| EPS (Basic) | - | 17.69 | 16.82 | 14.80 | 12.66 | 13.72 | 12.61 | 9.83 | 8.65 | 6.48 | 4.45 | 3.53 | 2.93 | 2.56 | 1.99 | 1.79 | 1.50 | 1.36 | 0.93 | 0.61 | 1.68 | 1.62 | 0.85 | 12.28 | 1.01 | 0.30 |
| Diluted Shares Outstanding | 33.81M | 34.24M | 34.85M | 35.4M | 36.09M | 37.69M | 39.64M | 41.92M | 43.35M | 47.68M | 49.92M | 55.53M | 56.93M | 57.72M | 59M | 61.65M | 60.82M | 57.83M | 58.34M | 64.21M | 64.38M | 68.53M | 76.9M | 3.18M | 40.52M | 40.52M |
| Basic Shares Outstanding | 33.81M | 34.01M | 34.73M | 35.08M | 35.72M | 37.2M | 38.97M | 40.77M | 41.86M | 42.9M | 48.1M | 49.84M | 55.55M | 55.77M | 56.42M | 58.92M | 58.47M | 57.28M | 57.76M | 62.1M | 63.23M | 66.84M | 73.28M | 3.17M | 36.32M | 36.32M |
| Dividend Payout Ratio | - | 39.37% | 35.94% | 32.7% | 34.83% | 27.31% | 24.82% | 26.38% | 25.46% | 30.33% | 34.44% | 41.67% | 32.5% | 23.95% | 165.03% | - | - | - | - | 2367.81% | 28.09% | 24.84% | 7.17% | 482.45% | - | - |
High Debt Leverage Sensitivity
According to recent quarterly filings, DPZ has maintained a consistent revenue growth trajectory, with year-over-year figures showing a 3.5% increase in 2026Q1, suggesting that the brand's core transactional volume remains resilient despite broader consumer spending headwinds and a challenging macroeconomic environment for quick-service dining.
The revenue growth appears to be supported by the company's dual-channel strategy, balancing delivery with an increasing focus on carryout. Investors should monitor whether this growth is driven by pricing actions or genuine unit-level volume expansion, as the latter is critical for long-term royalty sustainability.
Based on reported financial statements, DPZ has successfully defended its gross margin, which stood at 40.4% in 2026Q1, indicating that the company's vertically integrated supply chain effectively mitigates the volatility of commodity input costs like cheese and wheat through its pass-through pricing model.
The ability to maintain gross margins above 39% across the last ten quarters suggests significant pricing power and operational discipline. This stability appears to be a key differentiator when compared to peers like Papa John's, which struggle with lower margin profiles in similar operating environments.
As reported in recent income statements, DPZ has demonstrated effective operating leverage, with operating income reaching $230.4M in 2026Q1, reflecting a 20.0% operating margin that suggests the company is successfully scaling its administrative and overhead costs relative to its expanding global franchise royalty base.
The consistent operating margin performance implies that the company's 'fortressing' strategy is yielding tangible efficiencies in delivery logistics and labor management. This suggests that the firm is well-positioned to convert incremental revenue growth into bottom-line profitability without requiring proportional increases in SG&A expenses.
Based on the provided data, DPZ's net income remains robust, though investors should note that stock-based compensation (SBC) expenses, such as the $8.8M recorded in 2026Q1, represent a recurring non-cash drag that warrants careful consideration when evaluating the true underlying cash-generative capacity of the business.
While net margins remain in the double digits, the reliance on share repurchases to drive EPS growth may mask underlying operational performance fluctuations. The interplay between SBC and share count reduction suggests that earnings quality is heavily influenced by capital allocation decisions rather than purely organic operational improvements.
As indicated by historical financial trends, the company's reliance on a levered-recapitalization model creates a potential vulnerability, as rising interest costs may constrain future share buybacks and limit the financial flexibility required to navigate potential downturns in the global quick-service restaurant market.
Short-sellers may focus on the high debt-to-equity profile, which could become a significant headwind if the cost of capital remains elevated for an extended period. Investors should monitor whether management shifts its capital allocation priorities toward debt reduction, which would signal a departure from the historical growth-by-leverage strategy.
Quick answers to the most common questions about buying DPZ stock.
For fiscal year 2025, Domino's Pizza, Inc. (DPZ) reported total revenue of $4.94B. This represents a 323.6% increase compared to $1.17B in 2000.
Domino's Pizza, Inc. (DPZ) is profitable, generating $601.7M in net income for the fiscal year ending 2025 with a net profit margin of 12.2%.
Domino's Pizza, Inc. (DPZ) reported an operating income of $954.0M, resulting in an operating profit margin of 19.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Domino's Pizza, Inc. (DPZ) generated $1.97B in gross profit for the year, representing a gross profit margin of 40.0%. This demonstrates the company's core pricing power and production efficiency.