Latest Ratios: P/E Ratio 17.8x · EV/EBITDA 14.5x · 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 | $10.4B | $14.6B | $15.0B | $14.6B | $12.5B | $21.3B | $15.2B | $12.3B | $10.8B | $9.0B | $7.9B |
| Enterprise Value | $15.2B | $19.4B | $20.0B | $19.7B | $17.7B | $26.4B | $19.4B | $16.5B | $14.3B | $12.1B | $10.1B |
| P/E Ratio → | 17.82 | 24.22 | 25.63 | 28.12 | 27.65 | 41.68 | 30.95 | 30.73 | 29.70 | 32.41 | 37.03 |
| P/S Ratio | 2.11 | 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 | 15.51 | 21.70 | 29.24 | 30.06 | 32.22 | 37.98 | 30.16 | 29.94 | 39.19 | 36.18 | 34.76 |
| P/OCF | 13.15 | 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 | 14.52 | 18.49 | 20.67 | 21.87 | 20.86 | 30.95 | 24.52 | 23.90 | 22.80 | 21.44 | 20.51 |
| EV / EBIT | 15.95 | 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 | 2.2% | 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 | 5.6% | 4.1% | 3.9% | 3.6% | 3.6% | 2.4% | 3.2% | 3.3% | 3.4% | 3.1% | 2.7% |
| FCF Yield | 6.4% | 4.6% | 3.4% | 3.3% | 3.1% | 2.6% | 3.3% | 3.3% | 2.6% | 2.8% | 2.9% |
| Buyback Yield | 3.4% | 2.5% | 2.2% | 1.8% | 2.3% | 6.2% | 2.0% | 5.7% | 5.5% | 11.8% | 3.8% |
| Total Shareholder Yield | 5.6% | 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 |
High Debt Leverage Sensitivity
According to current market data, DPZ trades at a forward P/E of 15.54, which appears to discount the company's historical premium relative to peers, potentially signaling investor skepticism regarding the sustainability of EPS growth in a higher-for-longer interest rate environment that limits aggressive share repurchases.
The current valuation multiple suggests the market is pricing in a more mature growth phase compared to the high-growth periods of the past decade. Investors should monitor whether this compression reflects a fundamental shift in the perceived quality of the royalty-based earnings stream or merely a reaction to the company's constrained capital allocation flexibility.
Based on reported figures, DPZ's ROIC of 18.3% in 2026Q1 highlights a strong ability to generate returns on invested capital, though this metric is significantly bolstered by the company's aggressive debt-funded recapitalization strategy rather than purely organic operational improvements in the underlying franchise business model.
The high ROIC relative to the broader restaurant sector suggests that the company's asset-light franchise model is highly effective at extracting value from its supply chain and royalty streams. However, the reliance on debt to artificially suppress the equity base warrants caution, as it may mask the true underlying capital intensity required to maintain the store network.
As reported in recent financial statements, the company maintains a tight cash conversion cycle of 17 days in 2026Q1, which suggests that the vertically integrated supply chain effectively manages inventory and receivables to support the broader franchise ecosystem without tying up excessive amounts of working capital.
The consistency of the CCC over the last ten quarters indicates a highly disciplined operational approach to managing the flow of goods to franchisees. This efficiency is a critical component of the company's ability to maintain high operating margins despite the inherent volatility of commodity-heavy supply chain operations.
Based on the provided data, the current ratio of 1.60 in 2026Q1 indicates an adequate short-term liquidity position, yet this must be interpreted alongside the company's significant debt obligations, which may limit the firm's ability to navigate severe macroeconomic stress without relying on external credit market access.
While the current ratio appears healthy, the underlying composition of assets and liabilities suggests that the company operates with minimal margin for error regarding its debt service requirements. Investors should monitor the interest coverage ratio, which at 3.91 in 2026Q1, warrants further investigation into the sustainability of current debt levels.
The most commonly misapplied metric for DPZ is the Price-to-Book ratio, which is rendered effectively meaningless by the company's persistent negative equity position resulting from years of aggressive share buybacks, thereby obscuring the true economic value of the brand's intangible assets and its long-term franchise royalty potential.
Analysts should instead focus on EV/EBITDA or P/FCF to better capture the company's cash-generative capacity and total enterprise value. Relying on book-value-based metrics in this context may lead to erroneous conclusions about the company's solvency or valuation, as the balance sheet is intentionally structured to prioritize capital returns over equity accumulation.
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Quick answers to the most common questions about buying DPZ stock.
Domino's Pizza, Inc.'s current P/E ratio is 17.8x. The historical average is 24.7x. This places it at the 23th percentile of its historical range.
Domino's Pizza, Inc.'s current EV/EBITDA is 14.5x. 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 17.8x. This is at the 23th 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 2.21% 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.