I think it’s fair to say that Domino’s Pizza (LSE:DOM) is one of the most recognisable stocks in the FTSE 250. After all, Domino’s is the largest pizza delivery operator in the world.

The FTSE 250 group has the master franchise agreement to own, operate and sub-franchise Domino’s stores in the UK and Ireland.

Last week (23 April), the share price shot up more than 10% in a single day. And it’s now up 16% inside a month. Yet, despite this, the stock’s still down 56% since the start of 2022. Is it worth looking at?

Busy summer coming up

The news that sent the stock up last week was a strong Q1 trading update. This showed the firm enjoyed its fastest growth in 11 quarters, with total system sales jumping 5.8%, including like‑for‑like growth of 4.5%.

During the quarter, the group launched its ‘Chick ‘N’ Dip’ offer. The accompanying ads have been everywhere: they show hefty chunks of boneless chicken being dunked into various sauces, set to the familiar ‘Domino-hoo-hoo‘ jingle. 

Early feedback’s been good, and Domino’s has also just launched its ‘Italianos’ range (built on a thin crust pizza collection). So there’s now plenty of choice for football fans to get stuck into during the World Cup this summer.

Speaking of which, this strong start to the year sets the firm up nicely for the second and third quarters. Five of the six group games England and Scotland play in June start at either 9pm, 10pm or 11pm. That’s prime pizza delivery time!

Another positive worth highlighting here is that the group’s costs are hedged for the current financial year, with some covered into 2027. And despite the uncertain backdrop, management isn’t expecting any supply-related issues.

CEO Nicola Frampton said: “As we move through 2026, we remain firmly focused on growing the core business and improving our operational execution for current and future years.”

GLP-1s and rising inflation rate

These results are encouraging given all the concerns about GLP-1 drugs. Clearly, they’re not harming sales, despite record use. And the ‘Italianos’ offer might appeal to GLP-1 users, as thinner-crust pizzas are obviously easier on the stomach than doughy, stuffed ones.

The biggest risk to sales growth is probably rising inflation, which is putting more pressure on fragile consumer confidence. Once the football’s over, consumers might tighten their belts, setting the pizza group up for a tougher period later in the year.  

Passive income

What about the dividend yield? At 5.7%. that looks attractive to me. It means 2,656 shares would unlock £300 in passive income, assuming the yield’s sustained, which now looks likely given the strong trading update.

At the current price, these shares would cost about £5,265.

Should investors consider a slice?

Now, given its maturity, this isn’t a company I’d expect red-hot growth or finger-licking dividend growth. After all, the group ended 2025 with 1,399 stores across the UK and Ireland. That’s a lot already.

However, the trusted brand, well-oiled delivery operation, diversified food offerings, and high dividend yield make me believe the stock’s worth considering. Especially while it’s trading cheaply, at just 10.5 times next year’s forecast earnings.