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Papa Johns Intl Inc Financials

PZZA
Source SEC Filings (10-K/10-Q) Updated Sep 28, 2025 Currency USD FYE December

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 19 / 100
Financial Profile 19/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
38

Papa Johns Intl Inc has an operating margin of 7.6%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 38/100, indicating healthy but not exceptional operating efficiency. This is up from 6.9% the prior year.

Growth
18

Papa Johns Intl Inc's revenue declined 3.6% year-over-year, from $2.1B to $2.1B. This contraction results in a growth score of 18/100.

Liquidity
13

Papa Johns Intl Inc's current ratio of 0.83 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 13/100, which could limit financial flexibility.

Cash Flow
8

Papa Johns Intl Inc's free cash flow margin of 1.7% results in a low score of 8/100. Capital expenditures of $72.5M absorb a large share of operating cash flow.

Altman Z-Score Safe
3.70

Papa Johns Intl Inc scores 3.70, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong
7/9

Papa Johns Intl Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
1.28x

For every $1 of reported earnings, Papa Johns Intl Inc generates $1.28 in operating cash flow ($106.6M OCF vs $83.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Papa Johns Intl Inc (PZZA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).

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Key Financial Metrics

Revenue
$2.1B
YoY-3.6%
5Y CAGR+4.9%
10Y CAGR+2.6%

Papa Johns Intl Inc generated $2.1B in revenue in fiscal year 2024. This represents a decrease of 3.6% from the prior year.

EBITDA
$226.1M
YoY+7.0%
5Y CAGR+25.8%
10Y CAGR+3.7%

Papa Johns Intl Inc's EBITDA was $226.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.0% from the prior year.

Free Cash Flow
$34.1M
YoY-70.7%
5Y CAGR+7.3%
10Y CAGR-7.4%

Papa Johns Intl Inc generated $34.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 70.7% from the prior year.

Net Income
$83.5M
YoY+1.7%
5Y CAGR+76.6%
10Y CAGR+1.3%

Papa Johns Intl Inc reported $83.5M in net income in fiscal year 2024. This represents an increase of 1.7% from the prior year.

EPS (Diluted)
$2.54
YoY+2.4%
10Y CAGR+3.8%

Papa Johns Intl Inc earned $2.54 per diluted share (EPS) in fiscal year 2024. This represents an increase of 2.4% from the prior year.

Cash & Debt
$38.0M
YoY-6.5%
5Y CAGR+6.3%
10Y CAGR+6.6%

Papa Johns Intl Inc held $38.0M in cash against $741.6M in long-term debt as of fiscal year 2024.

Dividends Per Share
$1.84
YoY+4.5%
5Y CAGR+15.4%
10Y CAGR+13.3%

Papa Johns Intl Inc paid $1.84 per share in dividends in fiscal year 2024. This represents an increase of 4.5% from the prior year.

Shares Outstanding
33M
YoY+0.3%
5Y CAGR+0.4%
10Y CAGR-2.0%

Papa Johns Intl Inc had 33M shares outstanding in fiscal year 2024. This represents an increase of 0.3% from the prior year.

Gross Margin
28.2%
YoY+1.2pp

Papa Johns Intl Inc's gross margin was 28.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.

Operating Margin
7.6%
YoY+0.7pp
5Y CAGR+6.1pp
10Y CAGR+0.3pp

Papa Johns Intl Inc's operating margin was 7.6% in fiscal year 2024, reflecting core business profitability. This is up 0.7 percentage points from the prior year.

Net Margin
4.0%
YoY+0.2pp
5Y CAGR+3.8pp
10Y CAGR-0.5pp

Papa Johns Intl Inc's net profit margin was 4.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.2 percentage points from the prior year.

Return on Equity
N/A
R&D Spending
N/A
Share Buybacks
$2.1M
YoY-99.0%
10Y CAGR-33.2%

Papa Johns Intl Inc spent $2.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 99.0% from the prior year.

Capital Expenditures
$72.5M
YoY-5.4%
5Y CAGR+14.0%
10Y CAGR+4.1%

Papa Johns Intl Inc invested $72.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 5.4% from the prior year.

PZZA Income Statement

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23
Revenue $508.2M-4.0% $529.2M+2.1% $518.3M-2.3% $530.8M+4.5% $507.9M-1.2% $513.9M-10.0% $571.3M+9.3% $522.8M
Cost of Revenue $369.1M-0.7% $371.7M+1.4% $366.5M-3.0% $377.6M+4.0% $363.0M-1.3% $367.7M N/A N/A
Gross Profit $139.0M-11.7% $157.4M+3.7% $151.8M-0.9% $153.1M+5.7% $144.9M-1.0% $146.3M N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $56.5M-19.5% $70.1M+7.6% $65.2M+3.9% $62.7M+9.9% $57.0M-1.4% $57.9M+7.9% $53.6M+2.8% $52.2M
Operating Income $16.2M-34.0% $24.5M+2.2% $24.0M-18.8% $29.5M+4.6% $28.2M-16.3% $33.7M-20.8% $42.6M+33.6% $31.9M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $1.8M-58.6% $4.2M-6.8% $4.5M-0.9% $4.6M-4.4% $4.8M-38.1% $7.7M+78.9% $4.3M-4.6% $4.5M
Net Income $4.7M-50.6% $9.5M+3.4% $9.2M-37.7% $14.8M+20.9% $12.2M-16.4% $14.6M-43.9% $26.1M+64.5% $15.9M
EPS (Diluted) $0.13-53.6% $0.28+3.7% $0.27-41.3% $0.46+24.3% $0.37-15.9% $0.44-45.7% $0.81+68.8% $0.48

PZZA Balance Sheet

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23
Total Assets $884.1M-0.7% $890.4M-0.9% $898.1M+1.0% $889.0M+6.0% $838.4M-1.0% $847.2M-3.2% $875.0M-0.3% $877.6M
Current Assets $270.8M+13.4% $238.8M-1.4% $242.1M+5.0% $230.6M+2.2% $225.7M-0.1% $225.9M-2.2% $231.0M-6.3% $246.6M
Cash & Equivalents $39.0M+17.0% $33.3M-24.3% $44.0M+16.0% $38.0M+56.2% $24.3M-12.5% $27.8M-31.6% $40.6M+8.3% $37.5M
Inventory $35.8M-4.6% $37.5M+0.8% $37.2M+5.5% $35.2M-6.4% $37.7M-1.1% $38.1M+5.4% $36.1M-4.1% $37.7M
Accounts Receivable $104.4M+0.5% $103.9M+4.0% $99.9M-1.7% $101.7M+8.8% $93.5M-1.1% $94.5M-9.3% $104.2M-5.0% $109.7M
Goodwill $67.5M-12.3% $76.9M+1.3% $75.9M+0.6% $75.5M-0.1% $75.5M-0.6% $76.0M-0.3% $76.2M+0.3% $76.0M
Total Liabilities $1.3B+0.1% $1.3B-0.6% $1.3B+0.9% $1.3B+1.5% $1.3B-0.7% $1.3B-1.9% $1.3B-1.4% $1.3B
Current Liabilities $310.8M+6.2% $292.7M+3.5% $282.9M+1.8% $278.0M+1.0% $275.2M-2.6% $282.6M-7.2% $304.6M+1.1% $301.3M
Long-Term Debt $727.1M+0.1% $726.3M-2.1% $741.9M0.0% $741.6M-2.3% $758.9M-0.3% $761.3M+0.5% $757.4M-1.5% $769.2M
Total Equity -$439.3M-1.7% -$432.0M0.0% -$431.9M-0.6% -$429.5M+7.0% -$461.7M0.0% -$461.9M-0.6% -$459.1M+3.4% -$475.2M
Retained Earnings $219.0M-4.7% $229.9M-2.5% $235.8M-2.5% $241.7M+12.0% $215.8M-1.3% $218.6M-0.2% $219.0M+5.2% $208.1M

PZZA Cash Flow Statement

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23
Operating Cash Flow $39.3M+10.8% $35.5M+13.3% $31.3M-38.3% $50.7M+69.3% $30.0M+150.0% $12.0M-81.9% $66.1M+99.1% $33.2M
Capital Expenditures $16.7M-7.6% $18.1M+47.8% $12.2M-52.1% $25.6M+58.7% $16.1M+23.3% $13.1M-49.2% $25.7M+59.3% $16.1M
Free Cash Flow $22.7M+29.9% $17.4M-8.8% $19.1M-24.2% $25.2M+81.6% $13.9M+1395.3% -$1.1M-102.7% $40.4M+136.9% $17.1M
Investing Cash Flow -$18.2M-48.1% -$12.3M-73.7% -$7.1M+71.4% -$24.8M-81.1% -$13.7M-34.8% -$10.2M+41.9% -$17.5M+20.3% -$21.9M
Financing Cash Flow -$15.5M+54.8% -$34.2M-84.1% -$18.6M-264.9% -$5.1M+74.3% -$19.8M-35.8% -$14.6M+67.5% -$44.9M-156.5% -$17.5M
Dividends Paid $15.3M0.0% $15.3M+1.0% $15.2M0.0% $15.2M+0.2% $15.1M+0.5% $15.1M+1.7% $14.8M-2.3% $15.2M
Share Buybacks N/A N/A N/A $2.1M $0 $0 $0 $0

PZZA Financial Ratios

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23
Gross Margin 27.4%-2.4pp 29.8%+0.5pp 29.3%+0.4pp 28.8%+0.3pp 28.5%+0.1pp 28.5% N/A N/A
Operating Margin 3.2%-1.4pp 4.6%+0.0pp 4.6%-0.9pp 5.6%0.0pp 5.6%-1.0pp 6.6%-0.9pp 7.4%+1.3pp 6.1%
Net Margin 0.9%-0.9pp 1.8%+0.0pp 1.8%-1.0pp 2.8%+0.4pp 2.4%-0.4pp 2.9%-1.7pp 4.6%+1.5pp 3.0%
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets 0.5%-0.5pp 1.1%+0.0pp 1.0%-0.6pp 1.7%+0.2pp 1.5%-0.3pp 1.7%-1.3pp 3.0%+1.2pp 1.8%
Current Ratio 0.87+0.1 0.82-0.0 0.86+0.0 0.830.0 0.82+0.0 0.80+0.0 0.76-0.1 0.82
Debt-to-Equity -1.66+0.0 -1.68+0.0 -1.720.0 -1.73-0.1 -1.640.0 -1.650.0 -1.65-0.0 -1.62
FCF Margin 4.5%+1.2pp 3.3%-0.4pp 3.7%-1.1pp 4.8%+2.0pp 2.7%+2.9pp -0.2%-7.3pp 7.1%+3.8pp 3.3%

Note: Shareholder equity is negative (-$429.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.83), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Papa Johns Intl Inc's annual revenue?

Papa Johns Intl Inc (PZZA) reported $2.1B in total revenue for fiscal year 2024. This represents a -3.6% 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 Papa Johns Intl Inc's revenue growing?

Papa Johns Intl Inc (PZZA) revenue declined by 3.6% year-over-year, from $2.1B to $2.1B in fiscal year 2024.

Is Papa Johns Intl Inc profitable?

Yes, Papa Johns Intl Inc (PZZA) reported a net income of $83.5M in fiscal year 2024, with a net profit margin of 4.0%.

What is Papa Johns Intl Inc's earnings per share (EPS)?

Papa Johns Intl Inc (PZZA) reported diluted earnings per share of $2.54 for fiscal year 2024. This represents a 2.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Papa Johns Intl Inc's EBITDA?

Papa Johns Intl Inc (PZZA) had EBITDA of $226.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Papa Johns Intl Inc have?

As of fiscal year 2024, Papa Johns Intl Inc (PZZA) had $38.0M in cash and equivalents against $741.6M in long-term debt.

What is Papa Johns Intl Inc's gross margin?

Papa Johns Intl Inc (PZZA) had a gross margin of 28.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Papa Johns Intl Inc's operating margin?

Papa Johns Intl Inc (PZZA) had an operating margin of 7.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Papa Johns Intl Inc's net profit margin?

Papa Johns Intl Inc (PZZA) had a net profit margin of 4.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Papa Johns Intl Inc pay dividends?

Yes, Papa Johns Intl Inc (PZZA) paid $1.84 per share in dividends during fiscal year 2024.

What is Papa Johns Intl Inc's free cash flow?

Papa Johns Intl Inc (PZZA) generated $34.1M in free cash flow during fiscal year 2024. This represents a -70.7% 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 Papa Johns Intl Inc's operating cash flow?

Papa Johns Intl Inc (PZZA) generated $106.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Papa Johns Intl Inc's total assets?

Papa Johns Intl Inc (PZZA) had $889.0M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Papa Johns Intl Inc's capital expenditures?

Papa Johns Intl Inc (PZZA) invested $72.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Papa Johns Intl Inc buy back shares?

Yes, Papa Johns Intl Inc (PZZA) spent $2.1M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Papa Johns Intl Inc have outstanding?

Papa Johns Intl Inc (PZZA) had 33M shares outstanding as of fiscal year 2024.

What is Papa Johns Intl Inc's current ratio?

Papa Johns Intl Inc (PZZA) had a current ratio of 0.83 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Papa Johns Intl Inc's debt-to-equity ratio?

Papa Johns Intl Inc (PZZA) had a debt-to-equity ratio of -1.73 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Papa Johns Intl Inc's return on assets (ROA)?

Papa Johns Intl Inc (PZZA) had a return on assets of 9.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is Papa Johns Intl Inc's debt-to-equity ratio negative or unusual?

Papa Johns Intl Inc (PZZA) has negative shareholder equity of -$429.5M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Papa Johns Intl Inc's Altman Z-Score?

Papa Johns Intl Inc (PZZA) has an Altman Z-Score of 3.70, placing it in the Safe Zone (low 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 Papa Johns Intl Inc's Piotroski F-Score?

Papa Johns Intl Inc (PZZA) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Papa Johns Intl Inc's earnings high quality?

Papa Johns Intl Inc (PZZA) has an earnings quality ratio of 1.28x, considered cash-backed (high quality). 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.

How financially healthy is Papa Johns Intl Inc?

Papa Johns Intl Inc (PZZA) scores 19 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.