Domino's (DPZ) FY2025 10-K Annual Report
Domino's (DPZ) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 23, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Domino's FY2025 10-K Analysis
Business Overview
- • Asset-light franchisor (~99% franchised); revenue via royalties, supply chain sales (60.5% of revenue at $2.99B), and Company-owned stores
- • New 2025 menu launches: Parmesan Stuffed Crust Pizza, Spicy Chicken Bacon Ranch pizza, and Garlic and Cinnamon Bread Bites
Management Discussion & Analysis
- • Revenue $4.94B, up $233.6M (+5.0%) YoY; supply chain (+$143.7M), U.S. franchise advertising (+$49.6M) primary drivers
- • Operating margin 19.3% vs 18.7%; gross margin 40.0% vs 39.3%; net margin 12.2% vs 12.4% (higher tax rate 21.9% vs 19.1%)
Risk Factors
- • NLRB joint employer rule (vacated Apr 2024) could be reinstated, potentially making Domino's liable for franchisees' labor violations across 6,924 U.S. franchise stores
- • Largest international master franchisee operates 3,524 stores across 12 markets, representing ~24% of international store count — single-entity concentration risk
Domino's FY2025 Key Financial MetricsXBRL
Revenue
$4.9B
▲ +5.0% YoY
Net Income
$602M
▲ +3.0% YoY
Gross Margin
40.0%
▲ +67bp YoY
Operating Margin
19.3%
▲ +63bp YoY
Net Margin
12.2%
▼ -23bp YoY
ROE
-15.4%
▼ -68bp YoY
Total Assets
$1.7B
▼ -1.2% YoY
EPS (Diluted)
$17.57
▲ +5.3% YoY
Operating Cash Flow
$792M
▲ +26.8% YoY
Source: XBRL data from Domino's FY2025 10-K filing on SEC EDGAR. All figures in USD.
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