Tearsheet

Domino's Pizza (DPZ)


Market Price (3/14/2026): $399.95 | Market Cap: $13.5 Bil
Sector: Consumer Discretionary | Industry: Restaurants

Domino's Pizza (DPZ)


Market Price (3/14/2026): $399.95
Market Cap: $13.5 Bil
Sector: Consumer Discretionary
Industry: Restaurants

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%
Weak multi-year price returns
2Y Excs Rtn is -39%, 3Y Excs Rtn is -35%
 
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%
  
2 Low stock price volatility
Vol 12M is 25%
  
3 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and E-commerce & DTC Adoption. Themes include Last-Mile Delivery, Direct-to-Consumer Brands (Staples), Show more.
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%
2 Low stock price volatility
Vol 12M is 25%
3 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and E-commerce & DTC Adoption. Themes include Last-Mile Delivery, Direct-to-Consumer Brands (Staples), Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -39%, 3Y Excs Rtn is -35%

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Domino's Pizza (DPZ) stock has lost about 5% since 11/30/2025 because of the following key factors:

1. Domino's Pizza reported Fourth Quarter and Fiscal 2025 diluted earnings per share (EPS) of $5.35, which missed the consensus analyst estimate of $5.38 by $0.03. Although quarterly revenue of $1.54 billion exceeded the consensus estimate of $1.52 billion, the slight EPS miss likely contributed to negative investor sentiment during the period.

2. Several analyst firms issued downgrades or lowered price targets for DPZ, reflecting a more cautious outlook for the company and the broader pizza segment. Morgan Stanley downgraded Domino's stock to "Equalweight" due to concerns about the overall pizza segment and the company's future growth trajectory. Additionally, Guggenheim lowered its price target from $450 to $440, a 2.22% reduction, on February 25, 2026, while Stifel adjusted its price target downward to $485.00.

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Stock Movement Drivers

Fundamental Drivers

The -3.4% change in DPZ stock from 11/30/2025 to 3/13/2026 was primarily driven by a -6.1% change in the company's P/E Multiple.
(LTM values as of)113020253132026Change
Stock Price ($)415.84401.62-3.4%
Change Contribution By: 
Total Revenues ($ Mil)4,8484,9401.9%
Net Income Margin (%)12.2%12.2%0.2%
P/E Multiple23.922.5-6.1%
Shares Outstanding (Mil)34340.8%
Cumulative Contribution-3.4%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/13/2026
ReturnCorrelation
DPZ-3.4% 
Market (SPY)-3.1%10.8%
Sector (XLY)-6.2%9.4%

Fundamental Drivers

The -11.2% change in DPZ stock from 8/31/2025 to 3/13/2026 was primarily driven by a -13.2% change in the company's P/E Multiple.
(LTM values as of)83120253132026Change
Stock Price ($)452.41401.62-11.2%
Change Contribution By: 
Total Revenues ($ Mil)4,7814,9403.3%
Net Income Margin (%)12.5%12.2%-2.5%
P/E Multiple25.922.5-13.2%
Shares Outstanding (Mil)34341.5%
Cumulative Contribution-11.2%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/13/2026
ReturnCorrelation
DPZ-11.2% 
Market (SPY)3.0%6.7%
Sector (XLY)-4.2%14.7%

Fundamental Drivers

The -16.3% change in DPZ stock from 2/28/2025 to 3/13/2026 was primarily driven by a -20.3% change in the company's P/E Multiple.
(LTM values as of)22820253132026Change
Stock Price ($)479.60401.62-16.3%
Change Contribution By: 
Total Revenues ($ Mil)4,7064,9405.0%
Net Income Margin (%)12.4%12.2%-1.9%
P/E Multiple28.222.5-20.3%
Shares Outstanding (Mil)34342.0%
Cumulative Contribution-16.3%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/13/2026
ReturnCorrelation
DPZ-16.3% 
Market (SPY)12.4%35.4%
Sector (XLY)3.4%36.2%

Fundamental Drivers

The 43.3% change in DPZ stock from 2/28/2023 to 3/13/2026 was primarily driven by a 22.2% change in the company's Net Income Margin (%).
(LTM values as of)22820233132026Change
Stock Price ($)280.19401.6243.3%
Change Contribution By: 
Total Revenues ($ Mil)4,5374,9408.9%
Net Income Margin (%)10.0%12.2%22.2%
P/E Multiple21.922.52.8%
Shares Outstanding (Mil)35344.8%
Cumulative Contribution43.3%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/13/2026
ReturnCorrelation
DPZ43.3% 
Market (SPY)73.4%33.3%
Sector (XLY)56.0%32.9%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
DPZ Return48%-38%21%3%1%-6%9%
Peers Return25%-20%28%3%13%-1%48%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
DPZ Win Rate67%42%50%58%42%0% 
Peers Win Rate55%37%53%45%53%47% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
DPZ Max Drawdown-14%-46%-16%-3%-4%-10% 
Peers Max Drawdown-9%-36%-9%-17%-9%-11% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: YUM, PZZA, MCD, QSR, DASH. See DPZ Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventDPZS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-48.6%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven94.7%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-23.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven30.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven37 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-26.0%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven35.2%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven177 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-86.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven649.5%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven897 days1,480 days

Compare to YUM, PZZA, MCD, QSR, DASH

In The Past

Domino's Pizza's stock fell -48.6% during the 2022 Inflation Shock from a high on 12/31/2021. A -48.6% loss requires a 94.7% gain to breakeven.

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Asset Allocation

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About Domino's Pizza (DPZ)

Domino's Pizza, Inc., through its subsidiaries, operates as a pizza company in the United States and internationally. It operates through three segments: U.S. Stores, International Franchise, and Supply Chain. The company offers pizzas under the Domino's brand name through company-owned and franchised stores. It also provides oven-baked sandwiches, pasta, boneless chicken and chicken wings, bread and dips side items, desserts, and soft drink products. As of January 2, 2022, the company operated approximately 18,800 stores in 90 markets. Domino's Pizza, Inc. was founded in 1960 and is based in Ann Arbor, Michigan.

AI Analysis | Feedback

Domino's Pizza is like a:

  • McDonald's for pizza
  • KFC for pizza

AI Analysis | Feedback

  • Pizzas: The primary product, offered under the Domino's brand name.
  • Oven-baked Sandwiches: A range of sandwiches prepared in the oven.
  • Pasta: Various pasta dishes available on the menu.
  • Chicken Products: Includes boneless chicken and chicken wings.
  • Bread and Dips: Side items such as breadsticks and accompanying dips.
  • Desserts: Sweet items like cookies or brownies.
  • Soft Drinks: Beverages offered to complement meals.

AI Analysis | Feedback

Domino's Pizza (DPZ) primarily sells to its network of independent franchisees. These franchisees are individual businesses (other companies) that operate Domino's stores under licensing agreements. Domino's corporate entity provides these franchisees with franchise rights and sells them ingredients, supplies, and equipment through its supply chain segment. Since these franchisees are typically independent, privately-held businesses, specific names and public symbols for these customer companies cannot be provided.

Domino's Pizza also directly sells its food products, such as pizzas, sandwiches, and desserts, to individual consumers through its company-owned stores, which represent a portion of its total store count.

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The Coca-Cola Company (KO)

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  • Proliferation of third-party food delivery aggregators (e.g., DoorDash, Uber Eats, Grubhub) that enable a wide array of restaurants to offer convenient delivery, thus diluting Domino's historical competitive advantage in proprietary delivery infrastructure and expanding competition significantly beyond traditional pizza chains.
  • Emergence and growth of ghost kitchens and virtual restaurant brands. This business model allows new entrants to compete in the delivery food market, including pizza, with lower overhead costs and greater agility by solely leveraging third-party delivery platforms, potentially introducing more specialized or cost-effective pizza options that challenge Domino's established market position.

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Better Bets vs. Domino's Pizza (DPZ)

Latest Trefis Analyses

Trade Ideas

Select ideas related to DPZ.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MBLY_2272026_Dip_Buyer_HighCashEquity_ExInd02272026MBLYMobileye GlobalDip BuyDB | Cash/EquityDip Buyer with High Net Cash % Equity
Buying dips for companies with significant net cash as a % of market cap along with meaningful cash flow generation
0.0%0.0%0.0%
SAH_2202026_Insider_Buying_GTE_1Mil_EBITp+DE_V202202026SAHSonic AutomotiveInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
-5.9%-5.9%-6.1%
MAT_2132026_Insider_Buying_GTE_1Mil_EBITp+DE_V202132026MATMattelInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
2.9%2.9%0.0%
SONO_2132026_Insider_Buying_GTE_1Mil_EBITp+DE_V202132026SONOSonosInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
-0.7%-0.7%-4.6%
DECK_2062026_Dip_Buyer_ValueBuy02062026DECKDeckers OutdoorDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
1.6%1.6%-0.8%
DPZ_3312020_Quality_Momentum_RoomToRun_10%03312020DPZDomino's PizzaQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
31.2%14.5%0.0%
DPZ_7312017_Quality_Momentum_RoomToRun_10%07312017DPZDomino's PizzaQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
16.0%42.2%-9.3%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

DPZYUMPZZAMCDQSRDASHMedian
NameDomino's.Yum Bran.Papa Joh.McDonald.Restaura.DoorDash  
Mkt Price401.62160.4036.79326.4672.65161.36160.88
Mkt Cap13.544.81.2232.724.369.834.5
Rev LTM4,9408,2142,05426,2639,43413,7178,824
Op Inc LTM9502,5298612,1132,4927251,721
FCF LTM6721,639527,3721,4491,8261,544
FCF 3Y Avg5561,463677,0491,3181,6591,390
CFO LTM7922,01012610,4851,7142,4311,862
CFO 3Y Avg6691,7671429,7041,5132,0791,640

Growth & Margins

DPZYUMPZZAMCDQSRDASHMedian
NameDomino's.Yum Bran.Papa Joh.McDonald.Restaura.DoorDash  
Rev Chg LTM5.0%8.8%-0.3%1.2%12.2%27.9%6.9%
Rev Chg 3Y Avg2.9%6.3%-0.7%4.2%13.3%27.8%5.2%
Rev Chg Q6.4%6.5%-6.1%3.0%7.4%37.7%6.4%
QoQ Delta Rev Chg LTM1.9%1.9%-1.6%0.8%1.8%8.6%1.9%
Op Mgn LTM19.2%30.8%4.2%46.1%26.4%5.3%22.8%
Op Mgn 3Y Avg18.7%31.7%6.0%45.9%27.9%-0.6%23.3%
QoQ Delta Op Mgn LTM0.1%-0.0%-1.0%-0.0%0.5%-0.2%-0.0%
CFO/Rev LTM16.0%24.5%6.1%39.9%18.2%17.7%17.9%
CFO/Rev 3Y Avg14.2%23.2%6.8%37.7%18.3%19.0%18.6%
FCF/Rev LTM13.6%20.0%2.5%28.1%15.4%13.3%14.5%
FCF/Rev 3Y Avg11.8%19.2%3.2%27.4%16.0%15.2%15.6%

Valuation

DPZYUMPZZAMCDQSRDASHMedian
NameDomino's.Yum Bran.Papa Joh.McDonald.Restaura.DoorDash  
Mkt Cap13.544.81.2232.724.369.834.5
P/S2.75.40.68.92.65.13.9
P/EBIT14.017.413.619.011.096.315.7
P/E22.528.739.627.731.474.730.0
P/CFO17.122.39.622.214.228.719.6
Total Yield6.2%5.2%7.6%5.8%7.7%1.3%6.0%
Dividend Yield1.8%1.8%5.1%2.2%4.6%0.0%2.0%
FCF Yield 3Y Avg3.9%3.8%3.8%3.3%5.8%2.6%3.8%
D/E0.40.30.80.20.60.00.3
Net D/E0.40.30.70.20.6-0.00.3

Returns

DPZYUMPZZAMCDQSRDASHMedian
NameDomino's.Yum Bran.Papa Joh.McDonald.Restaura.DoorDash  
1M Rtn5.1%1.3%8.2%1.6%2.8%-8.0%2.2%
3M Rtn-6.1%6.7%-10.0%3.7%3.4%-29.1%-1.4%
6M Rtn-10.0%8.3%-25.2%8.1%17.6%-37.5%-0.9%
12M Rtn-4.3%6.6%-10.5%12.3%14.7%-9.5%1.1%
3Y Rtn36.7%34.1%-47.3%31.6%31.4%183.1%32.8%
1M Excs Rtn7.5%3.7%10.6%4.0%5.1%-5.7%4.6%
3M Excs Rtn-1.6%13.6%-8.6%7.3%5.2%-25.1%1.8%
6M Excs Rtn-13.8%5.7%-27.5%4.2%13.7%-40.8%-4.8%
12M Excs Rtn-27.5%-15.1%-33.4%-9.5%-7.9%-35.0%-21.3%
3Y Excs Rtn-34.7%-35.7%-120.1%-37.9%-41.3%107.5%-36.8%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Supply chain2,8462,7152,8982,7002,553
Unites States (U.S) Stores1,5421,4541,4871,4981,451
International franchise319310295298250
General and administrative - other  0  
Intersegment Revenues  -143-139-136
Total4,7064,4794,5374,3574,117


Operating Income by Segment
$ Mil20252024202320222021
Unites States (U.S) Stores565521439455435
Supply chain281245209230238
International franchise261260236242198
Refranchising gain (loss)-0-021  
Loss on sale/disposal of assets-2-1-2-1-3
Non-cash equity-based compensation expense-43-38-29-29-24
Depreciation and amortization-88-81-80-73-65
General and administrative - other-95-87-26-43-53
Recapitalization-related expenses  0-1 
Total879820768780726


Price Behavior

Price Behavior
Market Price$401.62 
Market Cap ($ Bil)13.5 
First Trading Date07/13/2004 
Distance from 52W High-17.9% 
   50 Days200 Days
DMA Price$399.81$425.71
DMA Trenddowndown
Distance from DMA0.5%-5.7%
 3M1YR
Volatility25.8%25.3%
Downside Capture63.2853.28
Upside Capture34.1138.14
Correlation (SPY)11.3%33.9%
DPZ Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta0.190.610.420.180.510.61
Up Beta0.54-0.06-0.060.300.560.51
Down Beta0.110.510.45-0.030.420.59
Up Capture8%64%39%3%26%39%
Bmk +ve Days9203170142431
Stock +ve Days9182851117375
Down Capture17%104%68%48%73%88%
Bmk -ve Days12213054109320
Stock -ve Days12233373134377

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DPZ
DPZ-6.5%25.3%-0.31-
Sector ETF (XLY)13.0%23.7%0.4634.4%
Equity (SPY)19.6%18.9%0.8133.7%
Gold (GLD)71.9%26.3%2.051.7%
Commodities (DBC)19.3%17.3%0.8913.5%
Real Estate (VNQ)6.2%16.3%0.1942.4%
Bitcoin (BTCUSD)-15.0%44.2%-0.2412.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DPZ
DPZ5.2%29.2%0.20-
Sector ETF (XLY)8.0%23.7%0.3038.6%
Equity (SPY)13.1%17.0%0.6138.8%
Gold (GLD)24.1%17.3%1.146.8%
Commodities (DBC)11.2%19.0%0.477.1%
Real Estate (VNQ)4.8%18.8%0.1633.4%
Bitcoin (BTCUSD)6.4%56.7%0.3313.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DPZ
DPZ13.0%29.8%0.47-
Sector ETF (XLY)12.4%21.9%0.5237.6%
Equity (SPY)14.5%17.9%0.7035.2%
Gold (GLD)14.4%15.6%0.776.3%
Commodities (DBC)8.6%17.6%0.408.6%
Real Estate (VNQ)5.6%20.7%0.2326.0%
Bitcoin (BTCUSD)67.5%66.8%1.078.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity2.0 Mil
Short Interest: % Change Since 2152026-6.5%
Average Daily Volume1.0 Mil
Days-to-Cover Short Interest2.0 days
Basic Shares Quantity33.7 Mil
Short % of Basic Shares5.9%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/14/20253.9%3.6%0.2%
7/21/2025-0.8%4.2%-4.5%
2/24/2025-1.5%5.9%1.2%
10/10/2024-1.1%3.7%8.5%
7/18/2024-13.6%-10.3%-6.1%
2/26/20245.8%3.1%7.6%
10/12/2023-1.1%-2.5%4.4%
7/24/20230.1%4.0%-1.4%
...
SUMMARY STATS   
# Positive7810
# Negative1097
Median Positive3.9%4.1%5.4%
Median Negative-1.5%-6.5%-4.5%
Max Positive14.6%11.5%18.6%
Max Negative-13.6%-13.4%-9.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/23/202610-K
09/30/202510/14/202510-Q
06/30/202507/21/202510-Q
03/31/202504/28/202510-Q
12/31/202402/24/202510-K
09/30/202410/10/202410-Q
06/30/202407/18/202410-Q
03/31/202404/29/202410-Q
12/31/202302/26/202410-K
09/30/202310/12/202310-Q
06/30/202307/24/202310-Q
03/31/202304/27/202310-Q
12/31/202202/23/202310-K
09/30/202210/13/202210-Q
06/30/202207/21/202210-Q
03/31/202204/28/202210-Q

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Garcia, Kelly EEVP, Chief Tech & Data OfcrDirectSell12172025434.064,8702,113,8882,927,337Form
2Goldman, James A James Alan Goldman Revocable TrustSell8202025451.491,000451,4941,527,855Form
3Goldman, James A DirectSell5022025484.79385186,645190,038Form
4Ballard, Andy DirectSell5022025483.42413199,6511,206,326Form
5Sandeep, ReddyEVP, Chief Financial OfficerDirectSell4042025462.18399184,4104,046,848Form