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Domino’s Puts Up Strong Comp in Fourth Quarter, Approves Another $1 Billion in Buybacks, Raises Dividend

publication date: Feb 26, 2024
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Image: Domino’s free cash flow increased meaningfully in fiscal 2023. 

On February 26, Domino’s Pizza reported mixed fourth-quarter results, but comparable store sales came in better than expectations and the firm announced an additional $1 billion in buybacks, while it raised its dividend ~25%. We’re huge fans of Domino’s due in part to its heavily franchised business model, impressive digital initiatives, as well as its long-term unit growth prospects. The high end of our fair value estimate range of Domino’s stands at $569 per share, and we see meaningful upside from today’s price levels (~$465 per share) given the fundamental momentum at the firm.


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