Companies · DPZ
Domino's Pizza
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Latest analysis
Updated Jul 20, 2026
Domino's Q2 2026: U.S. franchise SSS flatlines at 0.0% as ticket compression offsets traffic gains, while refranchising accelerates asset-light pivot
U.S. franchise same-store sales stalled at 0.0% in Q2 2026, a sharp deceleration from +3.4% in Q2 2025, with higher transaction counts masked by lower average ticket — the first quarter of zero SSS growth in recent history. The refranchising of 77 company-owned stores in Virginia and Michigan (down from 262 to 186 company-owned units) is structurally compressing company-owned revenue but expanding the higher-margin royalty stream, with U.S. stores Segment Adjusted Income from Operations still growing +2.3% YoY. Supply chain was the standout performer, with Segment Adjusted Income from Operations up 18.1% in Q2 driven by procurement productivity and a 2.2% food basket price increase passed to stores.
Tone: mixedRevenue
$4.9B
DPZ 10-K · FY 2025
Employees
10,200
Revenue FY2024
$4.7B
Founded
1960
Profile
DPZ 10-K Item 1 · Feb 23, 2026Domino's Pizza is the largest pizza company in the world, operating more than 22,100 locations across over 90 markets as of December 28, 2025. Approximately 99% of global stores are franchised, with revenues driven by royalties, supply chain sales to franchisees, and a small network of U.S. Company-owned stores. The company's asset-light model generates consistent cash flows through its three segments: U.S. stores, international franchise, and supply chain.
Read filing description ↓ Collapse description ↑
Domino's is the largest pizza company in the world with more than 22,100 locations in over 90 markets around the world as of December 28, 2025, and operates two distinct service models within its stores, with a significant business in both delivery and carryout. We are a highly recognized global brand, and we focus on value while serving neighborhoods locally through our large worldwide network of franchise owners and U.S. Company-owned stores through both the delivery and carryout service models. We have been selling quality, affordable food to our customers since 1960. We are primarily a franchisor, with approximately 99% of Domino's global stores owned and operated by our independent franchisees as of December 28, 2025. Franchising enables an individual to be a business owner and maintain control over all employment-related matters and pricing decisions, while also benefiting from the strength of the Domino's global brand and operating system with limited capital investment by us. Domino's generates revenues and earnings by charging royalties and fees to our franchisees. Royalties are ongoing percent-of-sales fees for use of the Domino's brand marks. We also generate revenues and earnings by selling food and other products to franchisees through our supply chain operations primarily in the U.S. and Canada and by operating a number of Company-owned stores in the U.S. Our Hungry for MORE strategy aims to generate MORE sales, MORE stores and MORE profits. In the U.S., Domino's generated more than 85% of U.S. retail sales in 2025 from digital channels.
Primary products
- Pizza (hand-tossed dough, varying sizes and crust types)
- Parmesan Stuffed Crust Pizza
- Spicy Chicken Bacon Ranch specialty pizza
- Garlic and Cinnamon Bread Bites
- Bread products
- Wings
Business segments
End markets
Geographies
Named customers
No customer accounted for more than 10% of our total consolidated revenues in 2025, 2024 or 2023. As of December 28, 2025, our largest franchisee based on store count, Domino's Pizza Enterprises (DMP: ASX), operated 3,524 stores in 12 international markets, which accounted for approximately 24% of our international store count and 16% of our global store count. Revenues from this master franchisee accounted for 1.4% of our consolidated revenues in 2025.
Named competitors
“Within the U.S. QSR pizza category, we are recognized as number one, with approximately 23.3% total market share based on consumer spending data for the year ending December 2025 (up from approximately 22.5% for the year ended December 2024).” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues grew from $4.71 billion in fiscal 2024 to $4.94 billion in fiscal 2025, driven by supply chain, U.S. franchise advertising, and international franchise royalties and fees.
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