Domino's Pizza, Inc. · DPZ · FY2025 Q2 · Calendar Q3 2025

Domino’s Q2 2025: Market-share gains, guidance maintained

The supplied analysis supports a constructive operating thesis: Domino’s combined market-share gains, product innovation, loyalty expansion, aggregator distribution, and store openings with maintained annual guidance. The counterweight is that the durability of same-store sales growth and the margin contribution of aggregator sales remain important open questions.

Reported Before market openNASDAQConsumer Cyclical $10.02B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $3.81 Consensus $3.93
EPS surprise -3.1% Reported versus consensus
Reported revenue $1.15B Consensus $1.14B
Revenue surprise +0.2% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -0.8% Event window
SPY move +0.2% Same window
Abnormal move -1.0% Stock minus SPY
Volume 3.8× Versus trailing sessions
Subsequent drift -3.8% Up to 20 sessions
DPZSPY benchmark

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What changed

The supplied Q2 analysis highlighted the completed national DoorDash rollout, the performance of Parmesan stuffed crust, and the expanded role of Rewards and aggregator partnerships. Relative to the prior-quarter analysis, DoorDash moved from an anticipated national rollout to completed national participation, while the broader growth priorities and maintained guidance remained consistent.

Guidance delta

Maintained: the supplied analysis says annual guidance remains unchanged, including a 3% U.S. same-store sales target and continued net store openings.

Key takeaways

  • Management said quarterly sales growth outpaced the flat QSR pizza category, indicating market-share gains.
  • Parmesan stuffed crust was identified as a driver of traffic, ticket size, and same-store sales acceleration.
  • DoorDash’s national rollout and the expanded Rewards program were presented as multi-year growth drivers.
  • The supplied analysis says annual guidance remained unchanged, with a 3% U.S. same-store sales target.

Management priorities

  • Continue menu innovation, including two new permanent products per year.
  • Expand Domino’s Rewards and improve redemption options.
  • Increase marketing spend on DoorDash and other aggregators in the second half.
  • Maintain net store growth of 175 or more openings globally.

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Earnings History

Estimate Beat Miss Match
DPZ EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q1 '24 estimate $3.39 Q1 '24 actual $3.58, beat Q2 '24 estimate $3.68 Q2 '24 actual $4.03, beat Q3 '24 estimate $3.71 Q3 '24 actual $4.19, beat Q2 '25 estimate $3.93 Q2 '25 actual $3.81, miss Q3 '25 estimate $3.96 Q3 '25 actual $4.08, beat Q4 '25 estimate $5.38 Q4 '25 actual $5.35, miss Q1 '26 estimate $4.27 Q1 '26 actual $4.13, miss Q2 '26 estimate $4.17 Q2 '26 actual $4.07, miss Q3 '26 estimate $4.36 Q4 '26 estimate $6.47 Q1 '27 estimate $4.58 Q2 '27 estimate $4.81
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Analyst Consensus ?

ConsensusHold51 ratings
Bullish2549.0%
Neutral2549.0%
Bearish12.0%

Analyst 52W Price Targets

$307.4Current
$315Low
$440.2Average
$612High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 7, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
RBC Capital Sector Perform Sector PerformMaintainOct 5, 2026
JP Morgan Overweight OverweightMaintainSep 29, 2026
Guggenheim Neutral NeutralMaintainSep 23, 2026
TD Cowen Hold HoldMaintainSep 10, 2026
UBS Buy BuyMaintainSep 2, 2026
Show 46 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $307.4. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Gordon Haskett Capital CorporationAnalyst unavailable$340$297.27 +10.6%Oct 6, 2026
GuggenheimGregory Francfort$325$297.12 +5.7%Sep 23, 2026
Loop Capital MarketsAnalyst unavailable$353$350.95 +14.8%Aug 10, 2026
BMO CapitalAndrew Strelzik$420$333.67 +36.6%Jul 21, 2026
Wells FargoZachary Fadem$325$310.87 +5.7%Jul 16, 2026
See 137 more

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Company context

Snapshot as of publication

Domino's Pizza, Inc. operates as a leading international and domestic purveyor of pizza, managing its extensive operations through three distinct segments: U.S. Stores, International Franchise, and Supply Chain. The company is primarily recognized for its Domino's-branded pizzas, which are distributed via a vast network of both corporate-owned and independently franchised outlets. Beyond its flagship product, the menu also encompasses a variety of other offerings, including oven-baked sandwiches, pasta dishes, boneless and winged chicken, various bread and dip accompaniments, desserts, and soft drink beverages. As of January 2, 2022, the enterprise boasted approximately 18,800 locations spanning 90 global markets. Established in 1960, Domino's Pizza, Inc. is headquartered in Ann Arbor, Michigan.

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
  3. Polygon adjusted daily market bars · 2026-10-07T13:40:46.536959+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-07T13:40:46.534157+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-07. For educational purposes only; not investment advice.