Potbelly Corpora Financials
Potbelly Corpora (PBPB) reported $462.6M in revenue for fiscal year 2024, down 5.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Core earnings improved despite lower sales, but reinvestment and balance-sheet repair absorbed most of the cash generated.
FY2024's$40.3M net income is not the best guide to operating strength: it rested on only$11.0M of operating income because a large tax benefit lifted the bottom line. With operating cash flow of$19.7M and free cash flow of only$379K , nearly all internally generated cash was reinvested rather than left over as surplus.
Sales fell from
Long-term debt fell to
Financial Health Signals
Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Potbelly Corpora's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Potbelly Corpora has an operating margin of 2.4%, meaning the company retains $2 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is up from 2.0% the prior year.
Potbelly Corpora's revenue declined 5.9% year-over-year, from $491.4M to $462.6M. This contraction results in a growth score of 35/100.
Potbelly Corpora carries a low D/E ratio of 0.07, meaning only $0.07 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.
Potbelly Corpora's current ratio of 0.51 is below the typical benchmark, resulting in a score of 5/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Potbelly Corpora generated $19.7M in operating cash flow, capex of $19.3M consumed most of it, leaving $379K in free cash flow. This results in a low score of 30/100, reflecting heavy capital investment rather than weak cash generation.
Potbelly Corpora's ROE of 69.0% shows moderate profitability relative to equity, earning a score of 35/100. This is up from 34.8% the prior year.
Potbelly Corpora scores 1.70, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($518.1M) relative to total liabilities ($205.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Potbelly Corpora passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Potbelly Corpora generates $0.49 in operating cash flow ($19.7M OCF vs $40.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Potbelly Corpora earns $13.26 in operating income for every $1 of interest expense ($11.0M vs $829K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Potbelly Corpora generated $462.6M in revenue in fiscal year 2024. This represents a decrease of 5.9% from the prior year.
Potbelly Corpora's EBITDA was $23.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.9% from the prior year.
Potbelly Corpora reported $40.3M in net income in fiscal year 2024. This represents an increase of 687.1% from the prior year.
Potbelly Corpora earned $1.31 per diluted share (EPS) in fiscal year 2024. This represents an increase of 670.6% from the prior year.
Cash & Balance Sheet
Potbelly Corpora generated $379K in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 84.4% from the prior year.
Potbelly Corpora held $11.7M in cash against $4.0M in long-term debt as of fiscal year 2024, with $65.2M of liabilities due within a year.
Not reported for fiscal year 2024.
Margins & Returns
Potbelly Corpora's operating margin was 2.4% in fiscal year 2024, reflecting core business profitability. This is up 0.3 percentage points from the prior year.
Potbelly Corpora's net profit margin was 8.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 7.7 percentage points from the prior year.
Potbelly Corpora's ROE was 69.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 34.2 percentage points from the prior year.
Not reported for fiscal year 2024.
Capital Allocation
Potbelly Corpora spent $1.4M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Potbelly Corpora invested $19.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 13.1% from the prior year.
Not reported for fiscal year 2024.
PBPB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $469.1M | $462.6M-5.9% | $491.4M+8.7% | $452.0M+18.9% | $380.1M+30.5% | $291.3M-28.9% | $409.7M-3.1% | $422.6M-1.3% | $428.1M+5.2% | $407.1M+9.2% | $372.8M+14.0% | $327.0M+9.1% | $299.7M+9.0% | $274.9M+15.5% | $238.0M |
| SG&A Expenses | $49.3M | $47.0M-3.2% | $48.5M+28.5% | $37.7M+19.0% | $31.7M-3.8% | $33.0M-19.0% | $40.7M-9.2% | $44.8M+0.5% | $44.6M+10.4% | $40.4M+8.3% | $37.3M+15.1% | $32.4M-18.2% | $39.7M+33.9% | $29.6M+10.1% | $26.9M |
| Operating Income | $10.7M | $11.0M+9.9% | $10.0M+363.0% | -$3.8M+83.1% | -$22.5M+68.4% | -$71.1M-673.5% | -$9.2M+13.3% | -$10.6M-451.3% | -$1.9M-114.8% | $13.0M+38.0% | $9.4M+29.7% | $7.3M+392.9% | $1.5M-82.8% | $8.6M+4.5% | $8.2M |
| Interest Expense | $574K | $829K-74.7% | $3.3M+143.2% | $1.3M+40.1% | $963K-10.5% | $1.1M+440.7% | $199K+40.1% | $142K+14.5% | $124K-7.5% | $134K-39.4% | $221K+23.5% | $179K-53.7% | $387K-28.5% | $541K+9.3% | $495K |
| Income Tax | -$2.0M | -$33.5M-3790.3% | $909K+178.0% | $327K+90.1% | $172K+102.6% | -$6.5M-146.1% | $14.2M+746.5% | -$2.2M-147.3% | $4.6M+4.5% | $4.4M+28.2% | $3.5M+26.1% | $2.7M+1447.1% | -$204K+98.7% | -$16.0M-3078.4% | $537K |
| Net Income | $10.8M | $40.3M+687.1% | $5.1M+17.8% | $4.3M+118.3% | -$23.8M+63.6% | -$65.4M-172.6% | -$24.0M-170.2% | -$8.9M-27.6% | -$7.0M-184.7% | $8.2M+45.9% | $5.6M+29.1% | $4.4M+246.4% | $1.3M-94.8% | $24.0M+235.6% | $7.2M |
| EPS (Diluted) | — | $1.31+670.6% | $0.17+13.3% | $0.15+117.4% | -$0.86+68.6% | -$2.74-171.3% | -$1.01-188.6% | -$0.35-25.0% | -$0.28-190.3% | $0.31+55.0% | $0.20+42.9% | $0.14+102.2% | -$6.29 | $0.66+128.1% | -$2.35 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TTM is the trailing twelve months, Q3 FY2024 through Q2 FY2025, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PBPB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $263.1M+4.2% | $252.5M+3.0% | $245.2M-3.2% | $253.2M-10.6% | $283.4M-14.9% | $332.9M+117.3% | $153.2M-10.3% | $170.7M-2.7% | $175.4M+0.5% | $174.5M-9.1% | $191.9M+3.2% | $186.1M+46.9% | $126.7M | N/A |
| Current Assets | $33.2M-37.5% | $53.1M+73.9% | $30.5M+8.8% | $28.1M+20.4% | $23.3M-27.7% | $32.2M-18.3% | $39.4M-12.8% | $45.2M+17.3% | $38.6M-22.6% | $49.8M-37.9% | $80.2M-1.9% | $81.8M+152.0% | $32.5M | N/A |
| Cash & Equivalents | $11.7M-65.5% | $33.8M+116.3% | $15.6M+8.8% | $14.4M+29.0% | $11.1M-40.8% | $18.8M-4.9% | $19.8M-22.5% | $25.5M+9.2% | $23.4M-27.0% | $32.0M-49.2% | $63.0M-9.4% | $69.6M+207.9% | $22.6M-6.4% | $24.1M |
| Accounts Receivable | $9.8M+22.7% | $8.0M+24.0% | $6.4M+6.4% | $6.0M+38.5% | $4.4M+2.3% | $4.3M-10.1% | $4.7M-6.9% | $5.1M+34.3% | $3.8M-15.1% | $4.5M+11.1% | $4.0M+34.3% | $3.0M-8.7% | $3.3M | N/A |
| Goodwill | $2.0M-0.3% | $2.1M-7.5% | $2.2M0.0% | $2.2M0.0% | $2.2M0.0% | $2.2M0.0% | $2.2M0.0% | $2.2M0.0% | $2.2M+55.6% | $1.4M0.0% | $1.4M0.0% | $1.4M0.0% | $1.4M | N/A |
| Total Liabilities | $205.2M-13.9% | $238.4M-1.1% | $240.9M-5.8% | $255.7M-8.0% | $277.9M+5.4% | $263.7M+357.2% | $57.7M+7.8% | $53.5M+4.5% | $51.2M+15.6% | $44.3M+24.3% | $35.6M+8.6% | $32.8M-88.9% | $295.6M | N/A |
| Current Liabilities | $65.2M-8.2% | $71.1M+3.1% | $68.9M-1.3% | $69.9M+6.5% | $65.6M+22.0% | $53.8M+85.3% | $29.0M+6.1% | $27.4M-1.7% | $27.8M+10.5% | $25.2M+20.6% | $20.9M+11.6% | $18.7M+8.2% | $17.3M | N/A |
| Long-Term Debt | $4.0M-79.1% | $19.2M+124.2% | $8.6M-51.2% | $17.5M+9.8% | $16.0M | N/A | N/A | N/A | N/A | N/A | $1.0M-1.0% | $1.0M-93.3% | $15.1M | N/A |
| Total Equity | $58.4M+297.4% | $14.7M+228.2% | $4.5M+292.8% | -$2.3M-140.2% | $5.8M-91.6% | $68.8M-27.7% | $95.2M-18.5% | $116.7M-5.5% | $123.5M-4.6% | $129.4M-17.1% | $156.1M+2.0% | $153.0M+190.6% | -$168.9M+8.8% | -$185.3M |
| Retained Earnings | -$293.5M+12.1% | -$333.8M+1.5% | -$338.9M+1.3% | -$343.3M-7.4% | -$319.5M-25.7% | -$254.1M-10.7% | -$229.6M-4.3% | -$220.0M-3.3% | -$213.0M+3.7% | -$221.2M+2.5% | -$226.9M+1.9% | -$231.2M-35.6% | -$170.5M | N/A |
Not reported in any period shown, so not listed: Inventory.
PBPB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $38.2M | $19.7M+0.9% | $19.5M+56.2% | $12.5M+356.0% | -$4.9M+58.0% | -$11.6M-163.9% | $18.2M-41.4% | $31.0M-25.9% | $41.8M-9.0% | $46.0M+14.0% | $40.3M+51.8% | $26.6M-11.1% | $29.9M+19.1% | $25.1M+24.7% | $20.1M |
| Capital Expenditures | $21.4M | $19.3M+13.1% | $17.1M+102.4% | $8.4M-6.9% | $9.0M-17.1% | $10.9M-24.0% | $14.4M-32.9% | $21.4M-38.3% | $34.7M-5.5% | $36.7M+2.8% | $35.7M+22.3% | $29.2M+4.0% | $28.1M+8.3% | $25.9M+46.1% | $17.8M |
| Free Cash Flow | $16.8M | $379K-84.4% | $2.4M-39.9% | $4.0M+129.1% | -$13.9M+38.2% | -$22.5M-692.4% | $3.8M-60.4% | $9.6M+34.4% | $7.1M-22.9% | $9.3M+101.5% | $4.6M+273.1% | -$2.7M-249.0% | $1.8M+309.4% | -$851K-136.0% | $2.4M |
| Investing Cash Flow | -$21.4M | -$19.1M-77.2% | -$10.8M-27.8% | -$8.4M+6.9% | -$9.0M+17.1% | -$10.9M+24.0% | -$14.4M+32.9% | -$21.4M+38.3% | -$34.7M+8.3% | -$37.8M | N/A | N/A | -$28.1M-8.3% | -$25.9M-46.1% | -$17.8M |
| Financing Cash Flow | -$8.9M | -$22.6M-321.9% | $10.2M+466.5% | -$2.8M-116.2% | $17.1M+15.5% | $14.8M+411.2% | -$4.8M+68.9% | -$15.3M-207.9% | -$5.0M+70.3% | -$16.8M | N/A | N/A | $45.2M+6557.4% | -$700K+90.3% | -$7.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $49.9M | N/A | N/A |
| Share Buybacks | $2.8M | $1.4M | $0 | $0 | $0 | $0-100.0% | $4.2M-81.6% | $22.9M+77.1% | $12.9M-42.0% | $22.3M-43.9% | $39.8M+288.0% | $10.2M | N/A | N/A | $8.5M |
TTM is the trailing twelve months, Q3 FY2024 through Q2 FY2025, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PBPB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 2.4%+0.3pp | 2.0%+2.9pp | -0.8%+5.1pp | -5.9%+18.5pp | -24.4%-22.2pp | -2.2%+0.3pp | -2.5%-2.1pp | -0.4%-3.6pp | 3.2%+0.7pp | 2.5%+0.3pp | 2.2%+1.7pp | 0.5%-2.6pp | 3.1%-0.3pp | 3.5% |
| Net Margin | 8.7%+7.7pp | 1.0%+0.1pp | 1.0%+7.2pp | -6.3%+16.2pp | -22.4%-16.6pp | -5.9%-3.8pp | -2.1%-0.5pp | -1.6%-3.6pp | 2.0%+0.5pp | 1.5%+0.2pp | 1.3%+0.9pp | 0.4%-8.3pp | 8.8%+5.7pp | 3.0% |
| Return on Equity | 69.0%+34.2pp | 34.8%-62.2pp | 97.0% | N/A | -1133.3%-1098.4pp | -34.8%-25.5pp | -9.3%-3.4pp | -6.0%-12.6pp | 6.7%+2.3pp | 4.3%+1.6pp | 2.8%+2.0pp | 0.8% | N/A | N/A |
| Return on Assets | 15.3%+13.3pp | 2.0%+0.3pp | 1.8%+11.2pp | -9.4%+13.7pp | -23.1%-15.9pp | -7.2%-1.4pp | -5.8%-1.7pp | -4.1%-8.8pp | 4.7%+1.4pp | 3.2%+1.0pp | 2.3%+1.6pp | 0.7%-18.3pp | 19.0% | N/A |
| Current Ratio | 0.51-0.2x | 0.75+0.3x | 0.440.0x | 0.400.0x | 0.36-0.2x | 0.60-0.8x | 1.36-0.3x | 1.65+0.3x | 1.39-0.6x | 1.98-1.9x | 3.84-0.5x | 4.37+2.5x | 1.88 | N/A |
| Debt-to-Equity | 0.07-1.2x | 1.30-0.6x | 1.91 | N/A | 2.76-1.1x | 3.83+3.2x | 0.61+0.1x | 0.460.0x | 0.41+0.1x | 0.34+0.3x | 0.010.0x | 0.01 | N/A | N/A |
| FCF Margin | 0.1%-0.4pp | 0.5%-0.4pp | 0.9%+4.6pp | -3.7%+4.1pp | -7.7%-8.7pp | 0.9%-1.3pp | 2.3%+0.6pp | 1.7%-0.6pp | 2.3%+1.0pp | 1.2%+2.0pp | -0.8%-1.4pp | 0.6%+0.9pp | -0.3%-1.3pp | 1.0% |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.51), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Potbelly Corpora Ranks
Frequently Asked Questions
What is Potbelly Corpora's annual revenue?
Potbelly Corpora (PBPB) reported $462.6M in total revenue for fiscal year 2024. This represents a -5.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Potbelly Corpora's revenue growing?
Potbelly Corpora (PBPB) revenue declined by 5.9% year-over-year, from $491.4M to $462.6M in fiscal year 2024.
Is Potbelly Corpora profitable?
Yes, Potbelly Corpora (PBPB) reported a net income of $40.3M in fiscal year 2024, with a net profit margin of 8.7%.
What is Potbelly Corpora's EBITDA?
Potbelly Corpora (PBPB) had EBITDA of $23.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Potbelly Corpora have?
As of fiscal year 2024, Potbelly Corpora (PBPB) had $11.7M in cash and equivalents against $4.0M in long-term debt.
What is Potbelly Corpora's operating margin?
Potbelly Corpora (PBPB) had an operating margin of 2.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Potbelly Corpora's net profit margin?
Potbelly Corpora (PBPB) had a net profit margin of 8.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Potbelly Corpora's return on equity (ROE)?
Potbelly Corpora (PBPB) has a return on equity of 69.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Potbelly Corpora's free cash flow?
Potbelly Corpora (PBPB) generated $379K in free cash flow during fiscal year 2024. This represents a -84.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Potbelly Corpora's operating cash flow?
Potbelly Corpora (PBPB) generated $19.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Potbelly Corpora's total assets?
Potbelly Corpora (PBPB) had $263.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Potbelly Corpora's capital expenditures?
Potbelly Corpora (PBPB) invested $19.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Potbelly Corpora's current ratio?
Potbelly Corpora (PBPB) had a current ratio of 0.51 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Potbelly Corpora's debt-to-equity ratio?
Potbelly Corpora (PBPB) had a debt-to-equity ratio of 0.07 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Potbelly Corpora's return on assets (ROA)?
Potbelly Corpora (PBPB) had a return on assets of 15.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Potbelly Corpora's Altman Z-Score?
Potbelly Corpora (PBPB) has an Altman Z-Score of 1.70, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Potbelly Corpora's Piotroski F-Score?
Potbelly Corpora (PBPB) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Potbelly Corpora's earnings high quality?
Potbelly Corpora (PBPB) has an earnings quality ratio of 0.49x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Potbelly Corpora cover its interest payments?
Potbelly Corpora (PBPB) has an interest coverage ratio of 13.26x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Potbelly Corpora?
Potbelly Corpora (PBPB) scores 39 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.