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Domino's Pizza (DPZ) FY2024 results: revenue $4.7 billion, up 5.1% on the year

Domino's Pizza, Inc. (DPZ) reported revenue of $4.7 billion for fiscal 2024, the year ended 29 December 2024, up 5.1% on the year before. Net income was $584 million, up 12.5%, and diluted earnings per share $16.69. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2025.

Revenue
$4.7 billion
+5.1% on the year
FY2017FY2024
Operating margin
18.7%
18.3% a year earlier
FY2017FY2024
Net income
$584 million
+12.5% on the year
FY2017FY2024
Diluted EPS
$16.69
+13.8% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue4,7064,4794,537+5.1%
Cost of revenue2,8582,7522,889+3.9%
Gross profit1,8491,7271,649+7.0%
Gross margin39.3%38.6%36.3%
Operating income879820768+7.3%
Operating margin18.7%18.3%16.9%
Interest expense196196198-0.3%
Pre-tax income722652573+10.7%
Income tax138133121+3.5%
Effective tax rate19.1%20.4%21.0%
Net income584519452+12.5%
Net margin12.4%11.6%10.0%
Diluted EPS$16.69$14.66$12.53+13.8%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow625591475+5.8%
Capital expenditure11310587.2+7.1%
Free cash flow512485388+5.5%
Free cash flow margin10.9%10.8%8.6%
Cash from investing-31.2-107-53.7
Cash from financing-532-476-516
Depreciation and amortisation87.780.680.3+8.8%
Share-based compensation43.337.528.7+15.3%
Buybacks330269294+22.5%
Dividends paid210170158+23.7%
Dividend per share$6.04$4.84$4.40+24.8%
Diluted shares, weighted35m35m36m-1.2%
Shares outstanding at period end34m35m35m-1.3%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity-3,962-4,070-4,189
Debt4,9754,9905,022-0.3%
Operating lease liabilities182180195+1.4%
Finance lease liabilities61.268.770.9-11.0%
Other liabilities481507503-5.1%
Total liabilities and equity1,7371,6751,602+3.7%
Fixed assets301304302-1.0%
Goodwill11.611.711.8-0.9%
Investments20.616.713.4+23.4%
Cash and equivalents18611460.4+63.1%
Receivables309283257+9.3%
Inventory70.983.081.6-14.5%
Other assets837862875-2.9%
Total assets1,7371,6751,602+3.7%

10-K for the year ended 29 December 2024, filed 24 February 2025: the filing.