How much is a Dominos pizza? Chump Change., page-10

Not sure about the $27/valuation but the point about the buy back is interesting.

On 4/10 they bought back 150,000 shares at a cost of $7m (rounded). At earnings of $1.40 share the remaining shareholders are receiving a return of $210k at a cost, funded by debt, of $7m or 3%. Subtract from this the cost of debt (must be US debt as Aussie debt would cost more than 3%) and to me you have at best a nil sum game. But you have more debt and more risk. Even if debt levels are ok (which I think they are for DMP) you still have less future capacity for capital in other areas.

Seems like a mistake to me in terms of capital allocation.