Domino’s Pizza (DPZ) Q4 2025 earnings summary

Executive summary

• Achieved strong growth in 2025, with both carryout and delivery businesses expanding in the U.S. and internationally, despite a challenging macro environment.

• Global retail sales grew 4.9% in Q4 and 5.4% for fiscal 2025, excluding currency impact.

• U.S. same-store sales rose 3.7% in Q4 and 3.0% for the year; international same-store sales up 0.7% in Q4 and 1.9% for the year.

• Net store growth reached 392 in Q4 and 776 for the year, with over 22,100 stores globally.

• Launched successful initiatives such as Parmesan Stuffed Crust and Best Deal Ever, boosting order counts and franchisee profitability.

Financial highlights

• Income from operations increased 8.0% in Q4 and 8.5% for the year.

• Total revenues rose 6.4% in Q4 to $1.54B and 5.0% for the year to $4.94B.

• Net income increased 7.2% in Q4 to $181.6M and 3.0% for the year to $601.7M.

• Diluted EPS was $5.35 in Q4 (up 9.4%) and $17.57 for the year (up 5.3%).

• Free cash flow grew 31.2% to $671.5M for the year.

Outlook and guidance

• Expects global retail sales growth of ~6% in 2026, excluding the 53rd week impact.

• U.S. same-store sales expected to grow 3% in 2026, with higher comps in the first half.

• International same-store sales projected at 1%-2% due to DPE pressures and new store openings in China.

• Plans for 175+ net new U.S. stores and ~800 net new international stores in 2026.

• Management expects to increase U.S. market share in 2026, leveraging value, scale, and digital initiatives.