More like it and competitive to other fast food like McDonald’s. End of the day Japanese store count increased from 500 to 1000 over few years. They are doing something right? So the question is during last 2 or 3 years comparison periods fair? Did the spike due to Covid is thinning out only now in Japan.? We need to recognise DMP at corporate level will produce $2 eps in 2025 after completing restructuring and roughly $100m free cashflow after paying taxes, capital expenditure, dividends. What will they do with the cash? Pay down debt which is hanging in their BS? or more acquisitions in few years time? or buy back own shares? When the company is profitable and generate free cash flow, over next few years available options are very interesting. Pizza industry is not going anywhere other than growing, Domino is well established, inflation coming down well (last night US figures were very good on inflation), this drop in share price is a overreaction. I think we will see a change in attitude in the next few months, assuming Japan is around rock bottom in sales decline.
DMP Price at posting:
$39.51 Sentiment: Buy Disclosure: Held
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