Domino's Pizza Enterprises: Weighted Average Cost of Capital

Colette Southam*, Paul W. Beamish, Matthew Winkler

*Corresponding author for this work

Research output: Contribution to specialist publicationArticleEducation

Abstract

On November 4, 2020, the group chief financial officer of Domino’s Pizza Enterprises Limited was tasked with determining the cost of capital in preparation for the corporate response to the COVID-19 pandemic. In planning for 2021, the company would need to make considerable investments throughout its franchises in Australia, New Zealand, Japan, and Europe. The cost of capital would be integral to these investment decisions. In the previous year, Domino’s Pizza Enterprises Limited had made A$98.9 million in investments, so the difference of a few per cent in capital costs could mean a swing in millions of dollars in expenditures. The chief financial officer had all background information including balance sheets, income statements, cash flow statements, common stock data, financial ratios, market return data, peer firm data, and an itemized list of debt obligations. Based on this information, he had to derive the company’s cost of capital using a weighted average cost of capital methodology.
Original languageEnglish
No.W25568
Specialist publicationIvey Publishing [Case Studies]
PublisherIvey Business School
Publication statusPublished - 29 Sept 2021

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