Domino's Pizza® Announces Second Quarter 2025 Financial Results

Yahoo

21-07-2025

Global retail sales growth (excluding foreign currency impact) of 5.6%
U.S. same store sales growth of 3.4%
International same store sales growth (excluding foreign currency impact) of 2.4%
Global net store growth of 178, including 30 net store openings in the U.S. and 148 net store openings internationally
Income from operations increased 14.8%; excluding the $0.2 million negative impact of foreign currency exchange rates on international franchise royalty revenues, income from operations increased 14.9%
ANN ARBOR, Mich., July 21, 2025 /PRNewswire/ -- Domino's Pizza, Inc. (Nasdaq: DPZ), the largest pizza company in the world, announced results for the second quarter of 2025.
"Our team delivered strong Q2 results," said Russell Weiner, Domino's Chief Executive Officer. "Internationally, we continued to grow despite macro challenges. In the U.S., both delivery and carryout grew, driving meaningful market share gains within the U.S. pizza QSR category. We are now fully rolled out on the two largest aggregators and offer all the major crust types, including stuffed crust. With what we believe are best-in-class unit economics, the largest advertising budget, a robust supply chain, and a rewards program that is bigger than ever, our business is well-positioned. We've never had more tools to drive long-term value creation for our franchisees and shareholders."
Second Quarter 2025 Operational and Financial Highlights (Unaudited):
The tables below outline certain statistical measures utilized by the Company to analyze its performance, as well as key financial results. This historical data is not necessarily indicative of results to be expected for any future period. Refer to Comments on Regulation G below for additional details, including definitions of these statistical measures and certain reconciliations.
Second Quarter
Two Fiscal Quarters2025
2024
2025
2024Global retail sales: (in millions of U.S. dollars)
U.S. stores$
2,335.6
$
2,222.1
$
4,576.3
$
4,434.0International stores
2,334.22,206.14,557.74,358.2Total$
4,669.8
$
4,428.2
$
9,134.0
$
8,792.2
Second QuarterTwo Fiscal Quarters
2025202420252024
Global retail sales growth: (versus prior year period, excluding foreign currency impact)
U.S. stores+ 5.1 %+ 6.8 %+ 3.2 %+ 7.3 %
International stores+ 6.0 %+ 7.7 %+ 7.1 %+ 7.2 %
Total+ 5.6 %+ 7.2 %+ 5.1 %+ 7.3 %Same store sales growth: (versus prior year period)
U.S. Company-owned stores+ 2.6 %+ 4.5 %(0.2) %+ 6.5 %
U.S. franchise stores+ 3.4 %+ 4.8 %+ 1.5 %+ 5.2 %
U.S. stores+ 3.4 %+ 4.8 %+ 1.4 %+ 5.2 %
International stores (excluding foreign currency impact)+ 2.4 %+ 2.1 %+ 3.0 %+ 1.5 %
U.S. Company-owned Stores
U.S. FranchiseStores
TotalU.S. Stores
InternationalStores
TotalSecond quarter of 2025 store counts:Store count at March 23, 2025
2946,7377,03114,32721,358Openings
—3333210243Closings
—(3)(3)(62)(65)Transfers
(36)36———Store count at June 15, 2025
2586,8037,06114,47521,536Second quarter 2025 net store growth
—3030148178Trailing four quarters net store growth
3152155451606
Second QuarterTwo Fiscal Quarters
(In millions, except percentages, percentage points, per share data and leverage ratio)20252024Increase/(Decrease)20252024Increase/(Decrease)
Total revenues$1,145.1$1,097.7+ 4.3 %$2,257.2$2,182.4+ 3.4 %U.S. Company-owned store gross margin15.6 %17.6 %(2.0) pp15.8 %17.5 %(1.7) pp
Supply chain gross margin11.8 %11.3 %+ 0.5 pp11.7 %11.2 %+ 0.5 ppIncome from operations$225.0$196.1+ 14.8 %$435.1$406.5+ 7.0 %Net income$131.1$142.0(7.7) %$280.7$267.8+ 4.8 %
Diluted earnings per share$3.81$4.03(5.5) %$8.14$7.61+ 7.0 %Leverage ratio4.7x5.0x(0.3)xNet cash provided by operating activities$366.9$274.2+ 33.8 %
Capital expenditures(35.2)(43.7)(19.5) %
Free cash flow$331.7$230.5+ 43.9 %
Revenues increased $47.4 million, or 4.3%, in the second quarter of 2025 as compared to the second quarter of 2024, primarily due to higher supply chain revenues, higher U.S. franchise royalties and fees and higher U.S. franchise advertising revenues. The increase in supply chain revenues was primarily attributable to an increase in the Company's food basket pricing to stores, which increased 4.8% during the second quarter of 2025 as compared to the second quarter of 2024, as well as higher order volumes. These increases were partially offset by a shift in the relative mix of products sold by the Company and the transition of the Company's equipment and supplies business to a third-party supplier. The increases in U.S. franchise royalties and fees and U.S. franchise advertising revenues were driven primarily by same store sales growth and net store growth during the trailing four quarters.
U.S. Company-owned store gross margin decreased 2.0 percentage points in the second quarter of 2025 as compared to the second quarter of 2024. This decrease was driven primarily by higher insurance costs and the increase in the Company's food basket pricing to stores. These decreases were partially offset by higher sales leverage.
Supply chain gross margin increased 0.5 percentage points in the second quarter of 2025 as compared to the second quarter of 2024, primarily due to procurement productivity, partially offset by the increase in the cost of the Company's food basket.
Income from operations increased $28.9 million, or 14.8%, in the second quarter of 2025 as compared to the second quarter of 2024. Excluding the negative impact of foreign currency exchange rates on international franchise royalty revenues of $0.2 million, income from operations increased $29.1 million, or 14.9%, in the second quarter of 2025 as compared to the second quarter of 2024. The increase in income from operations was primarily due to higher U.S. franchise royalties and fees, as well as gross margin dollar growth within supply chain. Additionally, general and administrative expenses were lower in the second quarter of 2025 primarily due to expenses related to the Company's Worldwide Rally in the second quarter of 2024 that takes place every two years, which did not reoccur in 2025. The increase in income from operations was also driven by a $3.9 million pre-tax refranchising gain associated with the refranchising of 36 U.S. Company-owned stores in the Maryland market.
Net income decreased $10.9 million, or 7.7%, in the second quarter of 2025 as compared to the second quarter of 2024, primarily due to an unfavorable change of $27.4 million in the pre-tax net realized and unrealized losses and gains associated with the Company's investment in DPC Dash Ltd. Higher provision for income taxes also contributed to the decrease in net income. The Company's provision for income taxes increased $12.1 million in the second quarter of 2025 due to a higher effective tax rate. The effective tax rate increased to 22.1% in the second quarter of 2025 as compared to 15.0% in the second quarter of 2024, driven primarily by a 6.8 percentage point unfavorable change in the impact of excess tax benefits from equity-based compensation.
Diluted EPS was $3.81 in the second quarter of 2025 as compared to $4.03 in the second quarter of 2024, representing a $0.22, or 5.5%, decrease. The decrease in diluted EPS in the second quarter of 2025 as compared to the second quarter of 2024 was driven by lower net income, partially offset by a lower weighted average diluted share count, resulting from the Company's share repurchases during the trailing four quarters.
Net cash provided by operating activities was $366.9 million in the two fiscal quarters of 2025 as compared to $274.2 million in the two fiscal quarters of 2024. The Company spent $35.2 million on capital expenditures in the two fiscal quarters of 2025 as compared to $43.7 million in the two fiscal quarters of 2024, resulting in free cash flow of $331.7 million in the two fiscal quarters of 2025 as compared to $230.5 million in the two fiscal quarters of 2024. The increase in free cash flow was a result of the positive impact of changes in operating assets and liabilities, the timing and amount of receipts for advertising contributions and the timing and amount of payments for advertising activities, as well as lower investments in capital expenditures.
Quarterly Dividend
Subsequent to the end of the second quarter of 2025, on July 15, 2025, the Company's Board of Directors declared a $1.74 per share quarterly dividend on its outstanding common stock for shareholders of record as of September 15, 2025, to be paid on September 30, 2025.
Share Repurchases
During the second quarter of 2025, the Company repurchased and retired 315,696 shares of common stock for a total of $150.0 million. During the two fiscal quarters of 2025, the Company repurchased and retired 430,976 shares of common stock for a total of $200.0 million. As of June 15, 2025, the Company had a total remaining authorized amount for share repurchases of $614.3 million.
Comments on Regulation G
In addition to the GAAP financial measures set forth in this press release, the Company has included non-GAAP financial measures within the meaning of Regulation G, including free cash flow, income from operations, excluding foreign currency impact and Consolidated Adjusted EBITDA. The Company has also included metrics such as global retail sales, global retail sales growth (excluding foreign currency impact), same store sales growth, net store growth, food basket pricing change, impact of changes in foreign currency exchange rates on international franchise royalty revenues and the leverage ratio, which are commonly used statistical measures in the quick-service restaurant industry that are important to understanding Company performance.
The Company uses "global retail sales," a statistical measure, to refer to total worldwide retail sales at Company-owned and franchise stores. The Company believes global retail sales information is useful in analyzing revenues because franchisees pay royalties and advertising fees that are based on a percentage of franchise retail sales. The Company reviews comparable industry global retail sales information to assess business trends and to track the growth of the Domino's Pizza brand and believes they are indicative of the financial health of the Company's franchisee base. In addition, supply chain revenues are directly impacted by changes in franchise retail sales in the U.S. and Canada. As a result, sales by Domino's franchisees have a direct effect on the Company's profitability. Retail sales for franchise stores are reported to the Company by its franchisees and are not included in Company revenues. "Global retail sales growth" is calculated as the change of U.S. Dollar global retail sales against the comparable period of the prior year. "Global retail sales growth, excluding foreign currency impact" is calculated as the change of international local currency global retail sales against the comparable period of the prior year. Changes in global retail sales growth, excluding foreign currency impact, are primarily driven by same store sales growth and net store growth.
The Company uses "same store sales growth," a statistical measure, which is calculated by including only retail sales from stores that also had sales in the comparable weeks of both periods. International same store sales growth is calculated similarly to U.S. same store sales growth. Changes in international same store sales are reported excluding foreign currency impacts, which reflect changes in international local currency sales. Same store sales growth for transferred stores is reflected in their current classification.
The Company uses "net store growth," a statistical measure, which is calculated by netting gross store openings with gross store closures during the period. Transfers between Company-owned stores and franchised stores are excluded from the calculation of net store growth.
The Company uses "food basket pricing change," a statistical measure, which is calculated as the percentage change of the food basket (including both food and cardboard products) purchased by an average U.S. store (based on average weekly unit sales) from U.S. supply chain centers against the comparable period of the prior year. The Company believes that the food basket pricing change is important to investors and other interested persons to understand the Company's performance. As food basket prices fluctuate, revenues, cost of sales and gross margin percentages in the Company's supply chain segment also fluctuate. Additionally, cost of sales, gross margins and gross margin percentages for the Company's U.S. Company-owned stores also fluctuate.
The Company uses "free cash flow," which is calculated as net cash provided by operating activities, less capital expenditures, both as reported under GAAP. The most directly comparable financial measure calculated and presented in accordance with GAAP is net cash provided by operating activities. The Company believes that the free cash flow measure is important to investors and other interested persons, and that such persons benefit from having a measure which communicates how much cash flow is available for working capital needs or to be used for repurchasing debt, making acquisitions, repurchasing common stock or paying dividends.
The Company uses "income from operations, excluding foreign currency impact," which is calculated as income from operations as reported under GAAP, less the "impact of changes in foreign currency exchange rates on international franchise royalty revenues," a statistical measure. The most directly comparable financial measure calculated and presented in accordance with GAAP is income from operations. The impact of changes in foreign currency exchange rates on international franchise royalty revenues is calculated as the difference in international franchise royalty revenues resulting from translating current period local currency results to U.S. dollars at current period exchange rates as compared to prior period exchange rates. The Company believes that the impact of changes in foreign currency exchange rates on international franchise royalty revenues is important to investors and other interested persons to understand the Company's international royalty revenues given the significant variability in those revenues and that can be driven by changes in foreign currency exchanges rates. International franchise royalty revenues do not have a cost of sales component, so changes in these revenues have a direct impact on income from operations.
The Company uses "Consolidated Adjusted EBITDA," which is calculated as Segment Income as defined by the Company under Accounting Standards Codification 280, Segment Reporting, less corporate administrative costs that have not been allocated to a reportable segment including labor, computer expenses, professional fees, travel and entertainment, rent, insurance and other corporate administrative costs. Consolidated Adjusted EBITDA is defined in the base indenture governing the Company's securitized debt. The Company uses Consolidated Adjusted EBITDA to determine future business objectives and targets and for long-range planning, as well as to evaluate total Company operating performance for the purposes of determining certain variable performance-based compensation. The Company believes Consolidated Adjusted EBITDA is a reliable barometer for the overall success of the Company. It is also used to calculate the leverage ratio (defined below), and other ratios defined in the indenture governing the Company's securitized debt. As such, Consolidated Adjusted EBITDA is important to investors and other interested persons to understand the financial performance of the Company, and to assess the ability of the Company to meet its financial obligations.
The Company uses the "leverage ratio1," which is calculated as the Company's securitized debt related to its fixed-rate notes from the recapitalizations completed in 2021, 2019, 2018, 2017 and 2015 and borrowings under its variable funding notes, divided by Consolidated Adjusted EBITDA on a trailing four quarters basis. The Company has historically operated with a leverage ratio between four and six times. The Company reviews its leverage ratio on at least a quarterly basis and believes its leverage ratio is important to investors and other interested persons to understand the capital structure of the Company, and to assess the ability of the Company to meet its financial obligations.
The reconciliation of the leverage ratio for the second quarters of 2025 and 2024 is as follows below.
June 15,2025
June 16,20242015 Ten-Year Notes$
742,000
$
742,0002017 Ten-Year Notes
940,000940,0002018 7.5-Year Notes
402,688402,6882018 9.25-Year Notes
379,000379,0002019 Ten-Year Notes
648,000648,0002021 7.5-Year Notes
826,625826,6252021 Ten-Year Notes
972,500972,500Total fixed-rate notes$
4,910,813
$
4,910,813
Segment Income - second quarter of 2025 and 2024$
273,758
$
253,565Segment Income - first quarter of 2025 and 2024
268,417260,016Segment Income - fourth quarter of 2024 and 2023
340,968327,098Segment Income - third quarter of 2024 and 2023
252,117237,096Segment Income - trailing four quarters$
1,135,260
$
1,077,775
General and administrative - other - second quarter of 2025 and 2024$
(20,925)
$
(26,165)General and administrative - other - first quarter of 2025 and 2024
(27,313)(18,173)General and administrative - other - fourth quarter of 2024 and 2023
(27,818)(32,498)General and administrative - other - third quarter of 2024 and 2023
(22,839)(19,809)General and administrative - other - trailing four quarters$
(98,895)
$
(96,645)
Consolidated Adjusted EBITDA - trailing four quarters$
1,036,365
$
981,130Leverage ratio
4.7
x
5.0
x
(1)The Company also calculates and reviews its Senior Leverage Ratio and Holdco Leverage Ratio as defined in the indenture governing the Company's securitized debt.
Conference Call Information
The Company will file its Quarterly Report on Form 10-Q today. As previously announced, Domino's Pizza, Inc. will hold a conference call today at 8:30 a.m. (Eastern) to review its second quarter 2025 financial results. The webcast is available at ir.dominos.com and will be archived for one year.
About Domino's Pizza®
Founded in 1960, Domino's Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout. It ranks among the world's top public restaurant brands with a global enterprise of more than 21,500 stores in over 90 markets. Domino's had global retail sales of over $19.4 billion in the trailing four quarters ended June 15, 2025. Its system is comprised of independent franchise owners who accounted for 99% of Domino's stores as of the end of the second quarter of 2025. In the U.S., Domino's generated more than 85% of U.S. retail sales in 2024 via digital channels and has developed many innovative ordering platforms.
Order – dominos.comCompany Info – biz.dominos.comMedia Assets – media.dominos.com
Please visit our Investor Relations website at ir.dominos.com to view news, announcements, earnings releases, investor presentations and conference webcasts.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
This press release contains various forward-looking statements about the Company within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") that are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. The following cautionary statements are being made pursuant to the provisions of the Act and with the intention of obtaining the benefits of the "safe harbor" provisions of the Act. You can identify forward-looking statements by the use of words such as "anticipates," "believes," "could," "should," "estimates," "expects," "intends," "may," "will," "plans," "predicts," "projects," "seeks," "approximately," "potential," "outlook" and similar terms and phrases that concern our strategy, plans or intentions, including references to assumptions. These forward-looking statements address various matters including information concerning future results of operations and business strategy, our anticipated profitability, estimates in same store sales growth, store growth and the growth of our U.S. and international business in general, our ability to service our indebtedness, our future cash flows, our operating performance, trends in our business and other descriptions of future events reflect the Company's expectations based upon currently available information and data. While we believe these expectations and projections are based on reasonable assumptions, such forward-looking statements are inherently subject to risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from our expectations are more fully described in our filings with the Securities and Exchange Commission, including under the section headed "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 29, 2024. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of various factors, including but not limited to: our substantial indebtedness as a result of our recapitalization transactions and our ability to incur additional indebtedness or refinance or renegotiate key terms of that indebtedness in the future; the impact a downgrade in our credit rating may have on our business, financial condition and results of operations; our future financial performance and our ability to pay principal and interest on our indebtedness; the strength of our brand, including our ability to compete in the U.S. and internationally in our intensely competitive industry, including the food service and food delivery markets; our ability to successfully implement our growth strategy, including through our participation in the third-party order aggregation marketplace; labor shortages or changes in operating expenses resulting from increases in prices of food (particularly cheese), fuel and other commodity costs, labor, utilities, insurance, employee benefits and other operating costs or negative economic conditions; the effectiveness of our advertising, operations and promotional initiatives; shortages, interruptions or disruptions in the supply or delivery of fresh food products and store equipment; the additional risks our international operations subject us to, which may differ in each country in which we and our franchisees do business; our ability and that of our franchisees to successfully operate in the current and future credit environment; the impact of social media or a boycott on our business, brand and reputation; the impact of new or improved technologies and alternative methods of delivery on consumer behavior; new product, digital ordering and concept developments by us, and other food-industry competitors; our ability to maintain good relationships with and attract new franchisees, and franchisees' ability to successfully manage their operations without negatively impacting our royalty payments and fees or our brand's reputation; our ability to successfully implement cost-saving strategies; changes in the level of consumer spending given general economic conditions, including interest rates, energy prices and consumer confidence or negative economic conditions in general; our ability and that of our franchisees to open new restaurants and keep existing restaurants in operation and maintain demand for new stores; the impact that widespread illness, health epidemics or general health concerns, severe weather conditions and natural disasters may have on our business and the economies of the countries where we operate; changes in foreign currency exchange rates; changes in income tax rates; our ability to retain or replace our executive officers and other key members of management and our ability to adequately staff our stores and supply chain centers with qualified personnel; our ability to find and/or retain suitable real estate for our stores and supply chain centers; changes in government legislation and regulations, including changes in laws and regulations regarding information privacy, payment methods, advertising and consumer protection and social media; adverse legal judgments or settlements; food-borne illness or contamination of products or food tampering or other events that may impact our reputation; data breaches, power loss, technological failures, user error or other cyber risks threatening us or our franchisees; the impact that environmental, social and governance matters may have on our business and reputation; the effect of war, terrorism, catastrophic events, other geopolitical or reputational considerations or climate change; our ability to pay dividends and repurchase shares; changes in consumer tastes, spending and traffic patterns and demographic trends; changes in accounting policies; and adequacy of our insurance coverage. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur. All forward-looking statements speak only as of the date of this press release and should be evaluated with an understanding of their inherent uncertainty. Except as required under federal securities laws and the rules and regulations of the Securities and Exchange Commission, or other applicable law, we will not undertake, and specifically disclaim, any obligation to publicly update or revise any forward-looking statements to reflect events or circumstances arising after the date of this press release, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on the forward-looking statements included in this press release or that may be made elsewhere from time to time by, or on behalf of, us. All forward-looking statements attributable to us are expressly qualified by these cautionary statements.
TABLES TO FOLLOW
Domino's Pizza, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(Unaudited)Fiscal Quarter EndedJune 15,2025
% ofTotalRevenues
June 16,2024
% ofTotalRevenues(In thousands, except share and per share data)
Revenues:
U.S. Company-owned stores$
92,456$
92,264
U.S. franchise royalties and fees
156,261
147,576
Supply chain
687,062
659,244
International franchise royalties and fees
77,164
73,696
U.S. franchise advertising
132,201
124,956
Total revenues
1,145,144100.0
%
1,097,736100.0
%
Cost of sales:
U.S. Company-owned stores
78,073
76,059
Supply chain
606,101
584,646
Total cost of sales
684,17459.7
%
660,70560.2
%
Gross margin
460,97040.3
%
437,03139.8
%
General and administrative
107,6089.4
%
115,94710.5
%
U.S. franchise advertising
132,20111.5
%
124,95611.4
%
Refranchising (gain) loss
(3,883)(0.3)
%
250.0
%
Income from operations
225,04419.7
%
196,10317.9
%
Other (expense) income
(15,974)(1.4)
%
11,3981.0
%
Interest expense, net
(40,819)(3.6)
%
(40,502)(3.7)
%
Income before provision for income taxes
168,25114.7
%
166,99915.2
%
Provision for income taxes
37,1603.3
%
25,0212.3
%
Net income$
131,09111.4
%$
141,97812.9
%
Earnings per share:
Common stock – diluted$
3.81$
4.03
Weighted average diluted shares
34,401,016
35,224,080
Domino's Pizza, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(Unaudited)Two Fiscal Quarters EndedJune 15,2025
% ofTotalRevenues
June 16,2024
% ofTotalRevenues(In thousands, except share and per share data)
Revenues:
U.S. Company-owned stores$
184,054$
184,913
U.S. franchise royalties and fees
307,261
298,094
Supply chain
1,356,986
1,318,458
International franchise royalties and fees
152,723
145,662
U.S. franchise advertising
256,176
235,256
Total revenues
2,257,200100.0
%
2,182,383100.0
%
Cost of sales:
U.S. Company-owned stores
154,984
152,517
Supply chain
1,198,099
1,170,965
Total cost of sales
1,353,08359.9
%
1,323,48260.6
%
Gross margin
904,11740.1
%
858,90139.4
%
General and administrative
216,6859.6
%
216,97110.0
%
U.S. franchise advertising
256,17611.4
%
235,25610.8
%
Refranchising (gain) loss
(3,883)(0.2)
%
1580.0
%
Income from operations
435,13919.3
%
406,51618.6
%
Other income (expense)
8,0530.4
%
(7,301)(0.3)
%
Interest expense, net
(82,459)(3.7)
%
(82,609)(3.8)
%
Income before provision for income taxes
360,73316.0
%
316,60614.5
%
Provision for income taxes
79,9913.6
%
48,8042.2
%
Net income$
280,74212.4
%$
267,80212.3
%
Earnings per share:
Common stock – diluted$
8.14$
7.61
Weighted average diluted shares
34,477,191
35,199,277
Domino's Pizza, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited)June 15,2025
December 29,2024(In thousands)
Assets
Current assets:
Cash and cash equivalents$
272,859
$
186,126Restricted cash and cash equivalents
211,734195,370Accounts receivable, net
284,606309,104Inventories
69,70570,919Prepaid expenses and other
45,55640,363Advertising fund assets, restricted
123,098103,396Total current assets
1,007,558905,278Property, plant and equipment, net
290,270301,179Operating lease right-of-use assets
222,676210,302Investment in DPC Dash
46,66782,699Other assets
244,122237,555Total assets$
1,811,293
$
1,737,013Liabilities and stockholders' deficit
Current liabilities:
Current portion of long-term debt$
1,149,989
$
1,149,679Accounts payable
131,08885,898Operating lease liabilities
43,00339,920Advertising fund liabilities
120,790101,567Other accrued liabilities
243,311235,398Total current liabilities
1,688,1811,612,462Long-term liabilities:
Long-term debt, less current portion
3,825,8473,825,659Operating lease liabilities
192,739181,983Other accrued liabilities
79,15379,200Total long-term liabilities
4,097,7394,086,842Total stockholders' deficit
(3,974,627)(3,962,291)Total liabilities and stockholders' deficit$
1,811,293
$
1,737,013Domino's Pizza, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(Unaudited)Two Fiscal Quarters EndedJune 15,2025
June 16,2024(In thousands)
Cash flows from operating activities:
Net income$
280,742
$
267,802Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
40,71340,218Refranchising (gain) loss
(3,883)158Loss on sale/disposal of assets
612327Amortization of debt issuance costs
2,4192,475Benefit for deferred income taxes
(2,700)(6,246)Non-cash equity-based compensation expense
21,35622,024Excess tax benefits from equity-based compensation
(2,343)(20,238)(Benefit) provision for losses on accounts and notes receivable
(4)111Unrealized and realized (gain) loss on investments, net
(8,053)7,301Changes in operating assets and liabilities
19,663(31,660)Changes in advertising fund assets and liabilities, restricted
18,338(8,122)Net cash provided by operating activities
366,860274,150Cash flows from investing activities:
Capital expenditures
(35,231)(43,683)Sale of investments
44,085—Proceeds from sale of assets
8,45873Other
(2,517)(1,350)Net cash provided by (used in) investing activities
14,795(44,960)Cash flows from financing activities:
Repayments of long-term debt and finance lease obligations
(1,861)(14,764)Proceeds from exercise of stock options
12,31931,467Purchases of common stock
(203,041)(25,000)Tax payments for restricted stock upon vesting
(8,472)(9,260)Payments of common stock dividends and equivalents
(60,257)(53,100)Net cash used in financing activities
(261,312)(70,657)Effect of exchange rate changes on cash
1,848(990)Change in cash and cash equivalents, restricted cash and cash equivalents
122,191157,543
Cash and cash equivalents, beginning of period
186,126114,098Restricted cash and cash equivalents, beginning of period
195,370200,870Cash and cash equivalents included in advertising fund assets, restricted, beginning of period
80,92888,165Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period
462,424403,133
Cash and cash equivalents, end of period
272,859283,699Restricted cash and cash equivalents, end of period
211,734197,019Cash and cash equivalents included in advertising fund assets, restricted, end of period
100,02279,958Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period$
584,615
$
560,676
View original content to download multimedia:https://www.prnewswire.com/news-releases/dominos-pizza-announces-second-quarter-2025-financial-results-302508994.html
SOURCE Domino's Pizza, Inc.
Connectez-vous pour accéder à votre portefeuille