Domino's key statistics and ratios

In fiscal 2025, Domino's had an operating margin of 19.3% and a current ratio of 1.65. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Domino's: financial ratios, annual
Fiscal year	2009Jan 2010	2010Jan 2011	2011Jan 2012	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Jan 2016	2016Jan 2017	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Jan 2021	2021Jan 2022	2022Jan 2023	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Gross margin	27.6%	27.9%	28.5%	29.9%	30.5%	29.8%	30.8%	31.0%	31.1%	37.9%	38.8%	38.7%	38.7%	36.3%	38.6%	39.3%	40.0%	40.0%
Operating margin	13.5%	14.5%	15.7%	16.8%	17.4%	17.3%	18.3%	18.4%	18.7%	16.7%	17.4%	17.6%	17.9%	16.9%	18.3%	18.7%	19.3%	19.7%
Net margin	5.7%	5.6%	6.4%	6.7%	7.9%	8.2%	8.7%	8.7%	10.0%	10.5%	11.1%	11.9%	11.7%	10.0%	11.6%	12.4%	12.2%	12.0%
Free-cash-flow margin	5.6%	6.6%	7.8%	8.8%	8.5%	6.1%	10.3%	9.5%	9.0%	8.0%	11.4%	12.2%	12.9%	8.6%	10.8%	10.9%	13.6%	12.5%
Return on assets	—	19.1%	22.4%	23.4%	28.5%	29.0%	27.6%	28.3%	35.8%	41.5%	35.0%	33.3%	31.5%	27.6%	31.7%	34.2%	34.8%	35.0%
Asset turnover	—	3.41	3.51	3.50	3.59	3.56	3.18	3.26	3.59	3.94	3.16	2.79	2.69	2.77	2.73	2.76	2.86	2.91
Current ratio	—	1.64	1.66	1.33	1.38	1.61	1.60	1.23	1.46	1.49	1.74	1.85	1.46	1.47	1.49	0.56	1.65	0.49
Interest cover (operating income ÷ interest)	1.7x	2.4x	2.8x	2.8x	3.5x	4.0x	4.1x	4.1x	4.3x	3.9x	4.2x	4.2x	4.1x	3.9x	4.2x	4.5x	4.9x	5.0x
Effective tax rate	41.2%	36.7%	37.2%	38.0%	36.5%	37.1%	37.0%	37.7%	30.6%	15.6%	17.0%	11.5%	18.4%	21.0%	20.4%	19.1%	21.9%	22.0%
Capital spending as % of revenue	1.6%	1.6%	1.5%	1.7%	2.2%	3.5%	2.9%	2.4%	3.2%	3.5%	2.4%	2.2%	2.2%	1.9%	2.4%	2.4%	2.4%	2.5%
Free cash flow ÷ net income	98.3%	117.0%	122.2%	130.8%	107.4%	75.2%	118.5%	109.0%	90.4%	75.8%	102.7%	102.6%	109.7%	85.8%	93.5%	87.6%	111.6%	104.3%
Dividends ÷ net income	—	—	—	—	23.9%	32.5%	41.7%	34.4%	30.3%	25.5%	26.4%	24.8%	27.3%	34.8%	32.7%	35.9%	39.4%	41.3%
Dividends and buybacks ÷ free cash flow	—	5.2%	128.2%	60.0%	85.5%	110.6%	358.4%	160.0%	457.1%	249.2%	195.6%	84.6%	260.8%	116.3%	90.4%	105.4%	88.5%	100.7%

US$ thousands unless shown otherwise. Fiscal quarters.

Domino's: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Gross margin	39.2%	39.8%	40.3%	40.1%	39.7%	40.4%	40.0%	40.2%
Operating margin	19.0%	18.9%	19.7%	19.5%	19.3%	20.0%	19.4%	20.4%
Net margin	11.7%	13.5%	11.4%	12.1%	11.8%	12.2%	11.4%	12.8%
Free-cash-flow margin	9.4%	14.8%	14.6%	14.3%	11.5%	12.8%	14.0%	12.3%
Current ratio	0.56	0.60	0.60	1.61	1.65	1.60	1.54	0.49

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 4 checks passed · September 6, 2026

What it owns · $1.8bn

Short-term assets $917mLonger-term assets $850m

What it owes, and who funded it · $1.9bn

Short-term liabilities $1.9bnShareholders' equity $-4.0bn

Short-term assets cover short-term liabilities $917m of assets due within a year against $1.9bn of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $229m of cash against $3.6bn of debt.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $760m of operating cash flow against $3.6bn of debt.
Operating profit covers interest at least five times over Operating income of $1,000m against $199m of interest.

From Domino's's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

84 /100

Strong moat

How hard Domino's's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 20 / 20

Net income has been a median 32.2% of total assets over 10 years.
Pricing power 13 / 20

Gross margin has been a median 38.5%, moving by 2.6 percentage points (standard deviation) across 10 years.
Durability 15 / 20

Operating margin has been a median 18.2%; its worst year was 16.5%.
Cash conversion 15 / 20

Free cash flow was positive in 10 of 10 years, at a median 10.8% of revenue.
Discipline 20 / 20

The diluted share count fell 12.8% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Domino's's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Domino's.