Where Will Domino's Pizza Be in 5 Years?

Core Insights - Domino's Pizza has consistently compounded shareholder value over the past two decades through a disciplined franchise model, predictable demand, and strong operational execution [1] Group 1: Growth Strategy - Domino's operates over 21,000 stores in 90+ markets, with significant growth potential in international markets like India and China [4] - The company had a long-term plan to add over 1,100 net new stores annually, aiming for nearly 50,000 stores worldwide, but has paused this target to reassess market conditions [4] - In Q3 2025, Domino's opened 250 new stores and closed 36, resulting in a net addition of 214 stores, continuing its growth albeit at a slower pace [5] Group 2: Business Model - The franchise model allows Domino's to maintain high-margin, recurring revenue with minimal capital requirements, appealing to investors [6] - Franchisees fund the buildout and operations, while Domino's earns royalties, fees, and supply chain revenue, creating a powerful compounding engine [6] Group 3: Operational Excellence - Domino's has achieved 31 consecutive years of same-store sales growth (SSSG) for its international businesses, driven by value, consistency, and convenience [7] - The focus on enhancing unit economics and customer stickiness is expected to sustain earnings expansion [8]