Domino's Pizza Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Domino's Pizza Inc. has submitted its 2023 10-K filing, detailing financial performance and key corporate events.</b>

AI Summary

DOMINOS PIZZA INC (DPZ) filed a Annual Report (10-K) with the SEC on February 26, 2024. Domino's Pizza Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 2, 2023, to December 31, 2023. Key financial elements such as Common Stock, Retained Earnings, and Accumulated Other Comprehensive Income are detailed for the fiscal year. Information regarding various debt instruments, including Senior Secured Notes and Variable Funding Notes, is presented. Details on employee-related equity, such as Restricted Stock and Stock Options, are included for the fiscal year.

Why It Matters

For investors and stakeholders tracking DOMINOS PIZZA INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Domino's financial health, operational structure, and strategic positioning for the fiscal year 2023, crucial for investors assessing the company's stability and growth prospects. The detailed breakdown of financial instruments, equity, and debt obligations offers insights into the company's capital structure and risk management strategies, essential for lenders and financial analysts.

Risk Assessment

Risk Level: low — DOMINOS PIZZA INC shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a stable reporting cycle.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Domino's performance and strategic outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-26 — Filing Date (Date of submission)
• 0000950170-24-019725 — Accession Number (Unique identifier for the filing)
• 001-32242 — SEC File Number (SEC's file number for the company)

Key Players & Entities

• DOMINOS PIZZA INC (company) — Filer name
• DPZ (company) — Ticker symbol
• 2023-12-31 (date) — Fiscal year end
• 2024-02-26 (date) — Filing date
• 30 FRANK LLOYD WRIGHT DRIVE (address) — Business address
• ANN ARBOR (location) — Business address city
• MI (location) — Business address state
• 48105 (postal_code) — Business address zip

FAQ

Industry Context

Domino's Pizza operates in the fast-food restaurant industry, specifically focusing on pizza delivery and carryout services.

Regulatory Implications

The filing is a standard 10-K report required by the Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Examine the risk factors section for potential challenges and mitigation strategies.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-26: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending December 31, 2023, providing the latest comprehensive financial and operational data.

Key Financial Figures

• $0.01 — d Domino's Pizza, Inc. Common Stock , $0.01 par value DPZ New York Stock Exchan
• $37.5 billion — U.S. QSR pizza category has grown from $37.5 billion to $41.3 billion. It is the second-larg
• $41.3 billion — ategory has grown from $37.5 billion to $41.3 billion. It is the second-largest category, by
• $349.9 billion — -largest category, by sales, within the $349.9 billion U.S. QSR sector. The U.S. QSR pizza cat
• $16.5 billion — pizza QSRs. Delivery segment dollars of $16.5 billion in 2023 (up from $14.0 billion in 2018)
• $14.0 billion — llars of $16.5 billion in 2023 (up from $14.0 billion in 2018) account for approximately 40%
• $16.9 billion — to 2023, the carryout segment grew from $16.9 billion to $20.2 billion. The four industry lea
• $20.2 billion — yout segment grew from $16.9 billion to $20.2 billion. The four industry leaders, including D
• $1.45 b — , our U.S. stores segment accounted for $1.45 billion, or 32%, of our consolidated reve
• $310.1 m — ational franchise segment accounted for $310.1 million, or 7%, of our consolidated reven
• $2.72 b — our supply chain segment accounted for $2.72 billion, or 61%, of our consolidated reve
• $2.7 billion — owned stores have invested an estimated $2.7 billion in national, co-operative and local adv

Filing Documents

• dpz-20231231.htm (10-K) — 3604KB
• dpz-ex4_1.htm (EX-4.1) — 28KB
• dpz-ex10_54.htm (EX-10.54) — 121KB
• dpz-ex10_55.htm (EX-10.55) — 121KB
• dpz-ex10_78.htm (EX-10.78) — 50KB
• dpz-ex10_93.htm (EX-10.93) — 40KB
• dpz-ex21_1.htm (EX-21.1) — 16KB
• dpz-ex23_1.htm (EX-23.1) — 4KB
• dpz-ex31_1.htm (EX-31.1) — 14KB
• dpz-ex31_2.htm (EX-31.2) — 15KB
• dpz-ex32_1.htm (EX-32.1) — 13KB
• dpz-ex32_2.htm (EX-32.2) — 13KB
• dpz-ex97_1.htm (EX-97.1) — 41KB
• img232267581_0.jpg (GRAPHIC) — 150KB
• 0000950170-24-019725.txt (&nbsp;) — 15875KB
• dpz-20231231.xsd (EX-101.SCH) — 1927KB
• dpz-20231231_htm.xml (XML) — 3078KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 34 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 51 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 52 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 83 Item 9A.

Controls and Procedures

Controls and Procedures. 83 Item 9B. Other Information. 84 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 84 Part III Item 10. Directors, Executive Officers and Corporate Governance. 85 Item 11.

Executive Compensation

Executive Compensation. 86 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 86 Item 13. Certain Relationships and Related Transactions, and Director Independence. 86 Item 14. Principal Accountant Fees and Services. 86 Part IV Item 15. Exhibits and Financial Statement Schedules. 87 Item 16. Form 10-K Summary. 98

SIGNATURES

SIGNATURES 99 Throughout this document, Domino's Pizza, Inc. (NYSE: DPZ) is referred to as the "Company," "Domino's," "Domino's Pizza" or in the first-person notations of "we," "us" and "our." In this document, we rely on and refer to information regarding the U.S. quick service restaurant, or QSR, sector and the U.S. QSR pizza category from CREST , ongoing foodservice market research (years ending December) prepared by Circana, formerly The NPD Group, as well as market research reports, analyst reports and other publicly-available information. Although we believe this information to be reliable, we have not independently verified it. U.S. sales information relating to the U.S. QSR sector and the U.S. QSR pizza category represent reported consumer spending obtained by Circana's CREST ongoing foodservice market research from consumer surveys. This information relates to both our Company-owned and franchised stores. 3 Part I

Business

Item 1. Business. Overview Domino's is the largest pizza company in the world with more than 20,500 locations in over 90 markets around the world as of December 31, 2023, and operates two distinct service models within its stores, with a significant business in both delivery and carryout. We are a highly recognized global brand, and we focus on value while serving neighborhoods locally through our large worldwide network of franchise owners and U.S. Company-owned stores through both the delivery and carryout service models. We have been selling quality, affordable food to our customers since 1960. We became "Domino's Pizza" in 1965 and opened our first franchised store in 1967. Over more than 60 years, we have built Domino's into one of the most widely-recognized consumer brands in the world. We believe our commitment to value, convenience, quality and new products continues to keep consumers engaged with the brand. We are primarily a franchisor, with approximately 99% of Domino's global stores owned and operated by our independent franchisees as of December 31, 2023. Franchising enables an individual to be a business owner and maintain control over all employment-related matters and pricing decisions, while also benefiting from the strength of the Domino's global brand and operating system with limited capital investment by us. Domino's business model is straightforward: Domino's stores handcraft and serve quality food at a competitive price, with easy ordering access and efficient service, enhanced by our technological innovations. Our hand-tossed dough is made fresh and distributed to stores around the world by us and our franchisees. Domino's generates revenues and earnings by charging royalties and fees to our franchisees. Royalties are ongoing percent-of-sales fees for use of the Domino's brand marks. We also generate revenues and earnings by selling food, equipment and supplies to franchisees through our supply chain operations primarily in the U.S.

View Full Filing

View this 10-K filing on SEC EDGAR