Good FY16 result, page-122

Dominos Pizza USA
Market Cap US$7.1Bn PE 39
Population 330M

Dominos Pizza AUS
Market Cap AU$6.8Bn PE 75
Population 24M

Add in some growth/demand attributable to Japan and Europe, but you are still nowhere near the size of USA, yet it trades at double the PE of it's US counterpart ?

Looking at their store count and projected additions, why on earth would any franchisee enter what already appears to be an oversatutrated market ? Franchisees are already struggling to make ends meet, evidenced by the fact they have to grossly underpay staff, not pay overtime and according to a few sources, force staff to work for free

IMO, they intentionally delayed the negotiations of a new enterprise agreement until after the full year results. Facing a potential 24% drop in domestic profits just to meet award rates would flatten their NPAT

After the 7/11 and Coles enterprise agreements got knocked back, DMP could be in for a real shock considering how worse off their agreements are in comparison

There isn't too many high flying catalysts left now for the instos to ramp, so I expect a fair amount of distribution and profit taking before the new enterprise agreement