First Read: Domino's Pizza Inc "Initial Thoughts on 2Q Results" (Buy) Geiger

研报英文原文证据摘录

First Read: Domino's Pizza Inc "Initial Thoughts on 2Q Results" (Buy) Geiger

Forecast returns

Forecast price appreciation 16.4%

Forecast dividend yield 2.7%

Forecast stock return 19.1%

Market return assumption 9.2%

Forecast excess return 9.9%

Company Description

Domino's Pizza, Inc. franchises and operates quick-service pizza restaurants and is the world's

largest pizza company as measured by systemwide sales. The company has more than 20,000

locations in over 90 markets and more than 98% of Domino's restaurants are franchised.

Approximately 33% of the units are located inside the US and account for ~50% of Domino's

revenue (excluding domestic franchise advertising).

Valuation Method and Risk Statement

Risks include but are not limited to: deteriorating macro-economic factors that could

negatively impact consumer spending (rising unemployment, low wage growth, high gas

prices, falling housing market); food safety incident at DPZ or another restaurant; increased

competition; risks related to a franchise business models; significant commodity or labor cost

inflation; changing consumer eating trends; ability to identify and secure appropriate sites for

new restaurants; effect of changes to healthcare laws; failure of internal controls over

financial reporting; adverse weather conditions; the negative impact on existing restaurants

from opening new restaurants in existing markets; risks related to international operations;

foreign exchange rate risk; and the impact from new information or attitudes regarding diet

and health could result in changes in regulations or consumer preferences. Our price target is

based on an EV/EBITDA methodology on our NTM EBITDA estimates.

First Read: Domino's Pizza Inc 20 July 2026 ab 2