Financials Domino's Pizza Inc.

Equities

DPZ

US25754A2015

Restaurants & Bars

Market Closed - Nyse Other stock markets 21:00:02 26/04/2024 BST			5-day change	1st Jan Change
499.1 ^USD	+0.87%		+5.39%	+21.07%

04-24	Domino's Pizza Same-Store Sales Set to Drive Growth in 2024 and Beyond, Oppenheimer Says	MT
04-24	New outlets, cheaper options fail to revive fast-food earnings in India	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	12,016	15,108	20,534	12,604	14,379	17,384	-	-
Enterprise Value (EV) ¹	15,940	19,058	25,456	17,566	19,255	22,183	22,127	22,092
P/E ratio	30.7 x	30.9 x	41.7 x	27.6 x	28.1 x	31.7 x	28.1 x	25.2 x
Yield	0.89%	0.81%	0.67%	-	1.17%	1.21%	1.33%	1.5%
Capitalization / Revenue	3.32 x	3.67 x	4.71 x	2.78 x	3.21 x	3.61 x	3.39 x	3.16 x
EV / Revenue	4.4 x	4.63 x	5.84 x	3.87 x	4.3 x	4.61 x	4.31 x	4.02 x
EV / EBITDA	23.1 x	24.7 x	29.8 x	20.7 x	21.4 x	22.8 x	21 x	19.4 x
EV / FCF	38.7 x	37.8 x	45.5 x	45.3 x	39.7 x	38.3 x	35.3 x	30.8 x
FCF Yield	2.58%	2.64%	2.2%	2.21%	2.52%	2.61%	2.84%	3.24%
Price to Book	-3.61 x	-4.52 x	-4.84 x	-	-3.52 x	-4.3 x	-4.26 x	-4.33 x
Nbr of stocks (in thousands)	40,900	39,400	36,387	36,387	34,881	34,832	-	-
Reference price ²	293.8	383.5	564.3	346.4	412.2	499.1	499.1	499.1
Announcement Date	20/02/20	25/02/21	01/03/22	23/02/23	26/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,619	4,117	4,357	4,537	4,479	4,809	5,131	5,498
EBITDA ¹	689.8	771.5	853.8	848.2	900.2	971.8	1,052	1,138
EBIT ¹	629.9	706.5	780.9	767.9	819.5	884	958.3	1,037
Operating Margin	17.41%	17.16%	17.92%	16.93%	18.3%	18.38%	18.68%	18.87%
Earnings before Tax (EBT) ¹	482.6	555.1	625.7	572.8	652.4	692.9	767.6	849.1
Net income ¹	400.7	491.3	510.5	452.3	519.1	545.8	604.7	663.8
Net margin	11.07%	11.93%	11.72%	9.97%	11.59%	11.35%	11.79%	12.07%
EPS ²	9.560	12.39	13.54	12.53	14.66	15.76	17.79	19.83
Free Cash Flow ¹	411.4	504	560	388.1	485.5	579.4	627.3	716.5
FCF margin	11.37%	12.24%	12.85%	8.55%	10.84%	12.05%	12.23%	13.03%
FCF Conversion (EBITDA)	59.63%	65.33%	65.59%	45.76%	53.93%	59.62%	59.61%	62.94%
FCF Conversion (Net income)	102.66%	102.59%	109.71%	85.81%	93.52%	106.15%	103.75%	107.94%
Dividend per Share ²	2.600	3.120	3.760	-	4.840	6.025	6.637	7.474
Announcement Date	20/02/20	25/02/21	01/03/22	23/02/23	26/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	998	1,343	1,011	1,065	1,069	1,392	1,024	1,025	1,027	1,403	1,078	1,098	1,108	1,519	1,152
EBITDA ¹	196.9	245.4	183.5	196.2	195.4	273	195.7	214	207.7	282.8	217.9	223.6	224.2	308.1	232.9
EBIT ¹	180.3	222.7	164.5	178.1	176.5	248.8	177.5	195.4	189.4	257.2	197.8	202.8	203.4	279.1	212.9
Operating Margin	18.06%	16.58%	16.27%	16.72%	16.51%	17.87%	17.33%	19.07%	18.44%	18.33%	18.35%	18.47%	18.36%	18.37%	18.47%
Earnings before Tax (EBT) ¹	134.8	196.2	117.7	133.5	131.8	189.8	133.3	138	175.6	205.5	150.8	159.9	160.6	222.4	167.5
Net income ¹	120.4	155.7	90.96	102.5	100.5	158.3	104.8	109.4	147.7	157.3	119.1	126.3	126.6	175	132.1
Net margin	12.06%	11.59%	9%	9.62%	9.41%	11.37%	10.23%	10.68%	14.37%	11.21%	11.05%	11.5%	11.43%	11.52%	11.46%
EPS ²	3.240	4.250	2.500	2.820	2.790	4.430	2.930	3.080	4.180	4.480	3.396	3.626	3.657	5.072	3.871
Dividend per Share ²	0.9400	0.9400	1.100	1.100	1.100	-	1.210	1.210	1.210	1.210	1.497	1.497	1.497	1.510	1.662
Announcement Date	14/10/21	01/03/22	28/04/22	21/07/22	13/10/22	23/02/23	27/04/23	24/07/23	12/10/23	26/02/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,924	3,950	4,922	4,962	4,876	4,800	4,743	4,708
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	5.688 x	5.12 x	5.765 x	5.85 x	5.417 x	4.939 x	4.507 x	4.136 x
Free Cash Flow ¹	411	504	560	388	485	579	627	717
ROE (net income / shareholders' equity)	-12.4%	-14.6%	-	-	-	33.2%	35.7%	-
ROA (Net income/ Total Assets)	35%	33.3%	31.5%	27.6%	31.7%	31.2%	34.6%	36.5%
Assets ¹	1,145	1,475	1,619	1,637	1,639	1,752	1,749	1,816
Book Value Per Share ²	-81.50	-84.90	-116.0	-	-117.0	-116.0	-117.0	-115.0
Cash Flow per Share ²	11.90	15.00	17.40	13.20	16.70	22.70	21.90	24.30
Capex ¹	85.6	88.8	94.2	87.2	105	109	112	115
Capex / Sales	2.36%	2.16%	2.16%	1.92%	2.35%	2.27%	2.18%	2.09%
Announcement Date	20/02/20	25/02/21	01/03/22	23/02/23	26/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Domino's Pizza Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

499.1 USD

Average target price

496.8 USD

Spread / Average Target

-0.46%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Quick Service Restaurants

	1st Jan change	Capi.
DOMINO'S PIZZA INC.	+21.07%	17.38B
MCDONALD'S CORPORATION	-7.90%	197B
CHIPOTLE MEXICAN GRILL, INC.	+39.35%	87.54B
YUM! BRANDS, INC.	+8.50%	39.89B
RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP	-5.41%	23.95B
RESTAURANT BRANDS INTERNATIONAL INC.	-5.52%	23.36B
YUM CHINA HOLDINGS, INC.	-6.55%	15.49B
WINGSTOP INC.	+49.10%	11.24B
AMERICANA RESTAURANTS INTERNATIONAL PLC	+4.47%	7.5B
MCDONALD'S HOLDINGS COMPANY (JAPAN), LTD.	+12.44%	5.8B

Quick Service Restaurants