Domino's Pizza vs Yum! Brands: Revenue, Profit and Business Model
Domino's Pizza reported $4.9B of revenue in FY2025 and $601.7M of net income. Yum! Brands reported $8.2B of revenue in FY2025 and $1.6B of net income.
Latest financial snapshot
Domino's Pizza
- Latest revenue
- $4.9B (FY2025)
- Net income
- $601.7M
- Net margin
- 12.2%
- Revenue growth
- +5.0% a year, FY2023–FY2025
Yum! Brands
- Latest revenue
- $8.2B (FY2025)
- Net income
- $1.6B
- Net margin
- 19.0%
- Revenue growth
- +7.7% a year, FY2023–FY2025
Financial summary
Domino's Pizza
Domino's revenue grew from $4.48 billion in FY2023 to $4.71 billion in FY2024 and $4.94 billion in FY2025, when net income reached $601.7 million. In FY2025 U.S. same-store sales rose 3.0%, international same-store sales rose 1.9% (its 32nd straight year of international comp growth), and the system added 776 net stores. Growth slowed in 2026: Q2 2026 revenue was $1.19 billion (+4.3%), net income $135.8 million, diluted EPS $4.07 and global retail sales rose 3.0% excluding currency, helped by 995 net new stores over the trailing four quarters. The company has raised its dividend for 12 consecutive years and carries a $1 billion share repurchase authorization.
Yum! Brands
Fiscal 2025 total revenues were $8.214 billion, up 9%, with GAAP net income of $1.559 billion and GAAP EPS of $5.55 (EPS excluding Special Items of $6.05, up 10%). Fourth-quarter 2025 revenue was $2.514 billion. In the second quarter of 2026 revenue rose about 12% to $2.169 billion, GAAP EPS was $3.08 and EPS excluding Special Items was $1.62. Pizza Hut sale proceeds of about $2.7 billion arrived in the third quarter of 2026, subject to purchase price adjustments.
Revenue and profit by year
Domino's Pizza
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $4.9B | $601.7M | 12.2% | +5.0% | Source |
| FY2024 | $4.7B | — | 0.0% | +5.1% | Source |
| FY2023 | $4.5B | — | 0.0% | — | Source |
Yum! Brands
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $8.2B | $1.6B | 19.0% | +8.8% | Source |
| FY2024 | $7.5B | $1.5B | 19.7% | +6.7% | Source |
| FY2023 | $7.1B | $1.6B | 22.6% | — | Source |
Where the revenue comes from
Domino's Pizza
- Supply ChainLargest
Sales of food, equipment, and supplies to Domino's stores, especially in the U.S. and Canada.
- Franchise Royalties and Fees
High-margin
Royalties, fees, and related revenue from U.S. and international franchised stores.
- Company-Owned StoresSmaller
Revenue from stores operated directly by Domino's.
Yum! Brands
- Franchise and license fees and income
Royalties based on franchisee sales plus initial and renewal fees, including the license fee from Yum China.
- Franchise contributions for advertising and other services
Franchisee payments into advertising funds and for technology and other services provided by Yum.
- Company sales
Sales from company-operated restaurants, including most Habit Burger & Grill units.
- Franchise rental income
Rent on properties Yum owns or leases and subleases to franchisees.
Business model and strategy
Domino's Pizza
How it makes money
Domino's runs a heavily franchised, asset-light model. Independent franchisees own almost all stores, and the corporate company earns money in three main ways: (1) supply-chain sales, where regional dough-manufacturing and distribution centers sell dough, cheese, other food, equipment and supplies to U.S. and Canadian stores, which is the largest revenue line but lower-margin; (2) royalties and fees from U.S.
Growth strategy
Domino's 'Hungry for MORE' strategy, launched in late 2023, focuses on more sales, more stores and more profits. Its levers are the Domino's Rewards loyalty program, value promotions, new menu items, presence on Uber Eats and DoorDash alongside its own delivery, carryout growth, and steady unit expansion, especially internationally, where 604 net stores opened in 2025.
Competitive advantage
Domino's main advantages are scale and focus. Its supply chain spreads dough production and distribution costs over thousands of stores, its own ordering apps and loyalty program capture most orders digitally, and its 'fortressing' strategy of adding stores inside existing delivery areas shortens delivery times and grows carryout.
Yum! Brands
How it makes money
Most Yum restaurants are owned and run by franchisees. Yum collects franchise and license fees (royalties tied to sales, plus upfront fees on new units), franchise contributions to advertising funds, rental income on some properties it subleases, and sales from a smaller set of company-operated restaurants, including most Habit locations.
Growth strategy
Under Chris Turner, Yum is concentrating on KFC unit growth in emerging and developed international markets, Taco Bell growth in the U.S. and abroad, and its Byte by Yum digital platform for ordering, kitchen, and delivery management. The 2026 portfolio review ended with the Pizza Hut sale.
Competitive advantage
KFC's development system opens restaurants at a pace few chains match, with 660 gross openings across 55 markets in the second quarter of 2026. Taco Bell holds a leading position in U.S. Mexican-style quick service. The franchise model keeps capital spending low and turns system growth into royalty income.
Questions about Domino's Pizza vs Yum! Brands
Which company has higher revenue — Domino's Pizza, Inc. or Yum! Brands, Inc.?
Domino's Pizza, Inc. reported $4.9B (FY2025), while Yum! Brands, Inc. reported $8.2B (FY2025). By last reported revenue, Yum! Brands, Inc. is the larger business, with Domino's Pizza, Inc. reporting a smaller revenue base.
What is the market cap of Domino's Pizza, Inc. vs Yum! Brands, Inc.?
Domino's Pizza, Inc.'s market capitalisation stands at $9.9B, while Yum! Brands, Inc.'s is $42.0B. Yum! Brands, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Domino's Pizza, Inc..
Which is more financially efficient — Domino's Pizza, Inc. or Yum! Brands, Inc.?
Domino's Pizza, Inc. generates $470k / employee in revenue per employee, while Yum! Brands, Inc. generates $228k / employee. Domino's Pizza, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Domino's Pizza, Inc. and Yum! Brands, Inc. make money?
Domino's Pizza, Inc. and Yum! Brands, Inc. generate revenue in fundamentally different ways. Domino's Pizza, Inc.: Domino's runs a heavily franchised, asset-light model. Yum! Brands, Inc.: Most Yum restaurants are owned and run by franchisees.
Which company is valued higher relative to revenue — Domino's Pizza, Inc. or Yum! Brands, Inc.?
On a price-to-sales (P/S) basis, Domino's Pizza, Inc. trades at 2.0x P/S and Yum! Brands, Inc. at 5.1x P/S. Yum! Brands, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Domino's Pizza, Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Domino's Pizza, Inc. bigger than Yum! Brands, Inc.?
By last reported revenue, Yum! Brands, Inc. ($8.2B (FY2025)) is the larger company compared to Domino's Pizza, Inc. ($4.9B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Domino's Pizza vs Yum! Brands overview