Domino's Pizza, Inc.
Domino's Pizza, Inc. operates as a pizza company worldwide. The company operates through three segments: U.S. Stores, International Franchise, and Supply Chain. It offers pizzas under the Domino's brand name through company-owned and franchised stores. The company also provides bread products, wings, boneless chicken, pastas, oven-baked sandwiches, soft drink products and desserts. In addition, it offers parmesan stuffed crust pizza; spicy chicken bacon ranch specialty pizza; and garlic, and cinnamon bread bites, as well as croissant, chocolate volcano, and chicken burst pizzas. Domino's Pizza, Inc. was founded in 1960 and is based in Ann Arbor, Michigan.
What does it do?
Domino's is the world's largest pizza delivery company, with over 20,000 locations across more than 90 countries. When you order a pizza online at midnight, there's a good chance it comes from a Domino's — they've built their entire business around making that process as fast and easy as possible. Most of their stores aren't fancy sit-down restaurants; they're small, efficient kitchens designed purely for delivery and carry-out. Think of them less like a restaurant and more like a logistics company that happens to make pizza.
Domino's sits at a fascinating crossroads right now — it's one of the few restaurant chains that was already built for the delivery economy before apps like DoorDash even existed, which gives it a structural cost advantage over competitors who pay third-party delivery fees. The company is also in the middle of a major push to re-accelerate store growth and customer traffic after a rough patch of losing orders to delivery apps. With $11 billion in market value and a brand known globally, what happens to Domino's is a useful signal for the health of the everyday consumer.
How does it make money?
Domino's makes money in three main ways. First, its U.S. and international franchise operations collect royalty fees — typically a percentage of every sale — from the independent owners who run most of its 20,000+ stores. Second, its Supply Chain segment (the biggest revenue driver) sells dough, sauce, and ingredients to those franchisees, generating around the majority of the $4.9 billion in annual revenue. Third, it earns fees from a small number of company-owned stores. Revenue grew from $4.7 billion to $4.9 billion year-over-year, and the business turned $600 million in net profit — a solid margin for a restaurant chain.
Why do investors care?
The core growth story is international expansion — Domino's has barely scratched the surface in markets like India, China, and Southeast Asia, where a growing middle class is spending more on convenience food. Domestically, the company has been trying to win back customers who drifted toward Uber Eats and DoorDash by partnering with those platforms rather than fighting them. Investors who believe in this thesis are betting that Domino's brand loyalty, tech-forward ordering systems, and low-cost franchise model can keep compounding store count and royalty income for years. What has to go right: same-store sales (revenue per existing location) need to recover, and new store openings — especially internationally — need to stay on track.
Deep Dive
MemberA full investor briefing on Domino's Pizza, Inc. — history, leadership, risks, and outlook.