What is Papa John's International Inc's earnings per share (EPS)?

Papa John's International Inc (PZZA) reported diluted earnings per share of $0.90 for fiscal year 2025. This represents a -64.6% 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.

Papa John's International Inc (PZZA) Financials

PZZA

Trailing 12 months to June 28, 2026

Revenue $2.0B -5.6% YoY

Net Income $27.6M -63.4% YoY

EPS (Diluted) $0.79 -65.2% YoY

Free Cash Flow $34.2M -40.8% YoY

Market Cap $637.4M as of Oct 8, 2026

Price / Sales 0.3x on $2.0B revenue, trailing 12 months to June 28, 2026

Price / Earnings 23.1x on $27.6M net income, trailing 12 months to June 28, 2026

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 28, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PZZA SEC filings page.

Papa John's International Inc (PZZA) reported $2.0B in revenue over the twelve months to Jun 28, 2026, down 5.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI PZZA FY2025 2026-10-04

Papa John's still converts sales into cash, but FY2025 shows overhead and liability-funded financing squeezing earnings.

In FY2025, gross margin widened to 28.9%, yet operating margin fell to 4.3%; the improvement stopped before reaching operating profit, pointing to costs below gross profit absorbing it. SG&A rose to $244M while revenue stayed near $2.1B, indicating operating-cost intensity—not sales volume—drove the squeeze.

Cash generation was better than reported earnings: FY2025 operating cash flow was $126M against net income of $31M, a gap consistent with substantial noncash expense. After $65M of capital spending, free cash flow was $61M, so reinvestment absorbs much of the cash produced by operations.

The balance sheet is structurally tight: liabilities were $1.3B against assets of $838M, leaving negative equity. Negative equity was $445M, and the current ratio was 0.8, so the company has little conventional cushion for short-term obligations.

Financial Health Signals

Financial Health Score 39/100

Scored against operating companies for FY2025. 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 Papa John's International Inc'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.

Profitability

Papa John's International Inc has an operating margin of 4.3%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 59/100, indicating healthy but not exceptional operating efficiency. This is down from 7.6% the prior year.

Growth

Papa John's International Inc's revenue declined 0.3% year-over-year, from $2.1B to $2.1B. This contraction results in a growth score of 24/100.

Leverage

Liquidity

Papa John's International Inc's current ratio of 0.82 is below the typical benchmark, resulting in a score of 12/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Papa John's International Inc has a free cash flow margin of 3.0%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Altman Z-Score Safe

3.38

Papa John's International Inc scores 3.38, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

5/9

Papa John's International Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

4.13x

For every $1 of reported earnings, Papa John's International Inc generates $4.13 in operating cash flow ($126.0M OCF vs $30.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.19x

Papa John's International Inc earns $2.19 in operating income for every $1 of interest expense ($89.1M vs $40.8M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$482.4M

YoY-8.8%

QoQ+0.8%

5Y CAGR-1.3%

10Y CAGR+1.2%

Papa John's International Inc generated $482.4M in revenue in Q2 2026. This represents a decrease of 8.8% from the same quarter a year earlier. Against the prior quarter it is up 0.8%.

EBITDA

$42.4M

YoY-2.0%

QoQ+10.3%

5Y CAGR-5.8%

10Y CAGR-2.1%

Papa John's International Inc's EBITDA was $42.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2.0% from the same quarter a year earlier. Against the prior quarter it is up 10.3%.

Net Income

$8.5M

YoY-10.5%

QoQ+17.6%

5Y CAGR-23.4%

10Y CAGR-10.6%

Papa John's International Inc reported $8.5M in net income in Q2 2026. This represents a decrease of 10.5% from the same quarter a year earlier. Against the prior quarter it is up 17.6%.

EPS (Diluted)

$0.24

YoY-14.3%

QoQ+14.3%

10Y CAGR-10.0%

Papa John's International Inc earned $0.24 per diluted share (EPS) in Q2 2026. This represents a decrease of 14.3% from the same quarter a year earlier. Against the prior quarter it is up 14.3%.

Cash & Balance Sheet

Free Cash Flow

$15.7M

YoY-9.9%

QoQ+352.1%

5Y CAGR-20.8%

10Y CAGR-4.0%

Papa John's International Inc generated $15.7M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 9.9% from the same quarter a year earlier. Against the prior quarter it is up 352.1%.

Cash & Debt

$28.5M

YoY-14.4%

QoQ-27.0%

5Y CAGR-21.6%

10Y CAGR+5.1%

Papa John's International Inc held $28.5M in cash against $715.2M in long-term debt as of Q2 2026.

Dividends Per Share

$0.46

YoY0.0%

QoQ0.0%

5Y CAGR+15.4%

10Y CAGR+10.1%

Papa John's International Inc paid $0.46 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

33M

YoY+0.5%

QoQ+0.1%

5Y CAGR-2.1%

10Y CAGR-1.2%

Papa John's International Inc had 33M shares outstanding in Q2 2026. This represents an increase of 0.5% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Margins & Returns

Gross Margin

29.7%

YoY0.0pp

QoQ+1.0pp

Papa John's International Inc's gross margin was 29.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 1.0 percentage points.

Operating Margin

4.8%

YoY+0.2pp

QoQ+0.5pp

5Y change-3.9pp

10Y change-5.2pp

Papa John's International Inc's operating margin was 4.8% in Q2 2026, reflecting core business profitability. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.

Net Margin

1.8%

YoY0.0pp

QoQ+0.3pp

5Y change-4.5pp

10Y change-4.3pp

Papa John's International Inc's net profit margin was 1.8% in Q2 2026, showing the share of revenue converted to profit. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.

Return on Equity

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$12.9M

YoY-28.6%

QoQ-4.1%

5Y CAGR-2.3%

10Y CAGR+2.3%

Papa John's International Inc invested $12.9M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 28.6% from the same quarter a year earlier. Against the prior quarter it is down 4.1%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

PZZA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PZZA quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$2.0B	$2.1B-0.3%	$2.1B-3.6%	$2.1B+1.6%	$2.1B+1.6%	$2.1B+14.1%	$1.8B+12.0%	$1.6B-2.6%	$1.7B-6.8%	$1.8B+4.1%	$1.7B+4.7%	$1.6B+2.5%	$1.6B+11.1%	$1.4B+7.2%	$1.3B+10.2%	$1.2B
Cost of Revenue	$1.4B	$1.5B-1.2%	$1.5B-5.1%	$1.6B0.0%	$1.6B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$565.1M	$593.3M+2.1%	$581.0M+0.6%	$577.3M+6.0%	$544.4M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$223.9M	$244.3M+28.2%	$190.5M-8.4%	$208.1M-3.4%	$215.3M+1.4%	$212.3M+3.9%	$204.2M-8.6%	$223.5M+15.5%	$193.5M+28.3%	$150.9M-4.6%	$158.1M-3.4%	$163.6M+10.7%	$147.8M+10.1%	$134.2M+2.0%	$131.6M+17.9%	$111.6M
Operating Income	$84.6M	$89.1M-43.1%	$156.7M+6.5%	$147.1M+35.0%	$109.0M-35.2%	$168.2M+86.4%	$90.3M+267.9%	$24.5M-22.2%	$31.6M-79.1%	$151.0M-8.2%	$164.5M+20.7%	$136.3M+15.9%	$117.6M+10.4%	$106.5M+6.7%	$99.8M+14.7%	$87.0M
EBITDA	N/A	$181.4M-19.8%	$226.1M+7.0%	$211.2M+31.1%	$161.1M-25.8%	$217.1M+55.1%	$140.0M+94.9%	$71.8M-7.9%	$78.0M-60.0%	$194.7M-5.3%	$205.5M+16.4%	$176.6M+12.1%	$157.6M+11.3%	$141.6M+6.8%	$132.6M+10.8%	$119.7M
Interest Expense	$39.3M	$40.8M-4.2%	$42.6M-2.0%	$43.5M+63.1%	$26.7M+38.8%	$19.2M+12.8%	$17.0M-17.3%	$20.6M-19.8%	$25.7M+127.5%	$11.3M+52.5%	$7.4M+30.3%	$5.7M+39.2%	$4.1M+314.8%	$983K-54.5%	$2.2M-27.5%	$3.0M
Income Tax	$16.6M	$16.3M-45.7%	$29.9M+43.4%	$20.9M+44.8%	$14.4M-44.5%	$26.0M+76.2%	$14.7M+2513.7%	-$611K-123.3%	$2.6M-92.2%	$33.8M-32.0%	$49.7M+33.7%	$37.2M+1.7%	$36.6M+10.3%	$33.1M+2.3%	$32.4M+23.1%	$26.3M
Net Income	$27.6M	$30.5M-63.4%	$83.5M+1.7%	$82.1M+21.1%	$67.8M-43.5%	$120.0M+107.2%	$57.9M+1090.5%	$4.9M+96.7%	$2.5M-97.6%	$102.3M-0.5%	$102.8M+35.9%	$75.7M+3.2%	$73.3M+5.4%	$69.5M+12.8%	$61.7M+12.7%	$54.7M
EPS (Basic)	N/A	$0.90-64.7%	$2.55+2.4%	$2.49+31.1%	$1.90+1483.3%	$0.12-90.7%	$1.29+637.5%	-$0.24-400.0%	$0.08-97.2%	$2.86+3.6%	$2.76+44.5%	$1.91+7.3%	$1.78+12.7%	$1.58+20.6%	$1.31+20.2%	$1.09
EPS (Diluted)	$0.79	$0.90-64.6%	$2.54+2.4%	$2.48+31.2%	$1.89	$0.12	$1.28+633.3%	-$0.24-400.0%	$0.08-97.2%	$2.83+3.3%	$2.74+45.0%	$1.89+8.0%	$1.75+12.9%	$1.55	$1.29+19.4%	$1.08
Diluted Shares (Avg)	N/A	33M+0.4%	33M-1.0%	33M-7.2%	36M	35M	33M+3.4%	32M-2.1%	32M-11.6%	37M-2.9%	38M-6.0%	40M-4.1%	42M-5.7%	44M	48M-5.6%	51M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$482.4M-8.8%	$478.6M-7.7%	$498.2M-6.1%	$508.2M+0.3%	$529.2M+4.2%	$518.3M+0.9%	$530.8M-7.1%	$506.8M-3.1%
Cost of Revenue	$339.0M-8.8%	$340.9M-7.0%	$353.1M-6.5%	$369.1M-0.3%	$371.7M+2.4%	$366.5M-0.3%	$377.6M	$370.1M
Gross Profit	$143.4M-8.9%	$137.7M-9.3%	$145.0M-5.3%	$139.0M+1.7%	$157.4M+8.7%	$151.8M+3.8%	$153.1M	$136.7M
SG&A Expenses	$59.0M-15.9%	$56.0M-14.1%	$52.5M-16.2%	$56.5M+338.4%	$70.1M+22.9%	$65.2M+12.6%	$62.7M+16.9%	$12.9M-75.3%
Operating Income	$23.2M-5.3%	$20.8M-13.4%	$24.5M-17.0%	$16.2M-75.2%	$24.5M-13.2%	$24.0M-28.9%	$29.5M-30.6%	$65.2M+104.7%
EBITDA	$42.4M-2.0%	$38.5M-9.0%	$54.7M+17.8%	$41.1M-50.2%	$43.3M-5.5%	$42.3M-17.7%	$46.4M-22.4%	$82.5M+70.9%
Interest Expense	$9.5M-10.1%	$9.7M-3.9%	$10.2M+1.7%	$9.9M-6.4%	$10.6M-2.9%	$10.1M-8.9%	$10.0M-15.3%	$10.6M-6.6%
Income Tax	$5.0M+17.4%	$4.1M-8.9%	$5.7M+25.1%	$1.8M-86.3%	$4.2M-11.7%	$4.5M-41.3%	$4.6M+5.9%	$12.8M+182.3%
Net Income	$8.5M-10.5%	$7.3M-21.3%	$7.1M-52.2%	$4.7M-88.7%	$9.5M-22.2%	$9.2M-37.0%	$14.8M-43.3%	$41.8M+163.6%
EPS (Basic)	$0.25-10.7%	$0.21-25.0%	$0.21-53.3%	$0.14-89.1%	$0.28-24.3%	$0.28-37.8%	$0.45-43.8%	$1.28+161.2%
EPS (Diluted)	$0.24-14.3%	$0.21-22.2%	$0.21-53.3%	$0.13-89.8%	$0.28-24.3%	$0.27-38.6%	$0.45-43.8%	$1.27+164.6%
Diluted Shares (Avg)	33M+0.5%	33M+0.4%	N/A	33M+0.3%	33M+0.4%	33M0.0%	N/A	33M+0.4%

Not reported in any period shown, so not listed: R&D Expenses.

PZZA Balance Sheet

PZZA quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$837.5M-5.8%	$889.0M+1.6%	$875.0M+1.2%	$864.2M-2.4%	$885.7M+1.5%	$872.8M+19.4%	$730.7M+22.6%	$595.9M+7.3%	$555.6M+8.4%	$512.6M+3.7%	$494.1M-2.1%	$504.6M+8.7%	$464.3M+5.9%	$438.4M+12.3%	$390.4M
Current Assets	$237.4M+3.0%	$230.6M-0.2%	$231.0M-8.0%	$251.0M-1.6%	$255.0M-16.8%	$306.4M+68.8%	$181.5M-7.5%	$196.3M+15.5%	$170.0M+16.8%	$145.6M-4.6%	$152.6M+3.3%	$147.8M+18.2%	$125.0M+5.4%	$118.6M+25.1%	$94.8M
Cash & Equivalents	$34.6M-8.9%	$38.0M-6.5%	$40.6M-14.3%	$47.4M-32.9%	$70.6M-45.8%	$130.2M+366.5%	$27.9M-16.1%	$33.3M+48.8%	$22.3M+43.6%	$15.6M-25.9%	$21.0M+4.4%	$20.1M+47.2%	$13.7M-16.6%	$16.4M-13.4%	$18.9M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$34.3M-2.6%	$35.2M-2.4%	$36.1M-12.7%	$41.4M+18.3%	$35.0M+15.6%	$30.3M+9.9%	$27.5M+1.2%	$27.2M-11.2%	$30.6M+21.8%	$25.1M+16.5%	$21.6M-21.3%	$27.4M+18.9%	$23.0M+3.9%	$22.2M+10.4%	$20.1M
Accounts Receivable	$103.1M+1.4%	$101.7M-2.5%	$104.2M+1.7%	$102.5M+26.0%	$81.4M-9.7%	$90.1M+27.9%	$70.5M-9.8%	$78.1M+21.0%	$64.6M+8.3%	$59.6M-5.7%	$63.2M+12.9%	$55.9M+5.7%	$52.9M+21.4%	$43.6M+54.7%	$28.2M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$1.7M
Goodwill	$67.6M-10.4%	$75.5M-1.0%	$76.2M+7.9%	$70.6M-12.4%	$80.6M-0.2%	$80.8M+0.6%	$80.3M-4.9%	$84.5M-2.7%	$86.9M+1.6%	$85.5M+7.4%	$79.7M-2.9%	$82.0M+3.3%	$79.4M+0.5%	$79.0M+5.2%	$75.1M
Total Liabilities	$1.3B-2.5%	$1.3B-1.2%	$1.3B+16.2%	$1.1B+7.7%	$1.1B-8.9%	$1.2B+8.6%	$1.1B+18.8%	$894.4M+36.6%	$654.8M+32.5%	$494.3M+11.5%	$443.5M+11.6%	$397.3M+24.5%	$319.1M+27.4%	$250.5M+35.6%	$184.7M
Current Liabilities	$291.0M+4.7%	$278.0M-8.7%	$304.6M+14.9%	$265.2M-7.7%	$287.4M-0.5%	$288.9M+38.9%	$207.9M+10.1%	$188.9M+42.2%	$132.9M+3.8%	$128.0M-3.7%	$132.9M+24.5%	$106.8M+9.1%	$97.9M-5.5%	$103.6M+27.7%	$81.1M
Non-Current Liabilities	$979.2M-4.4%	$1.0B+1.1%	$1.0B+16.7%	$868.5M+13.5%	$765.2M-11.6%	$866.1M+1.3%	$855.1M+21.2%	$705.6M+35.2%	$521.9M+42.5%	$366.3M+17.9%	$310.6M+6.9%	$290.5M+31.3%	$221.2M+50.6%	$146.9M+41.8%	$103.6M
Long-Term Debt	$710.4M-4.2%	$741.6M-2.1%	$757.4M+26.9%	$597.1M+24.2%	$480.7M+46.4%	$328.3M-5.5%	$347.3M-42.2%	$601.1M+34.6%	$446.6M+48.9%	$299.8M+17.5%	$255.1M+10.7%	$230.5M+45.9%	$157.9M+78.9%	$88.3M+71.4%	$51.5M
Total Equity	-$444.8M-3.5%	-$429.5M+6.4%	-$459.1M-60.3%	-$286.4M-52.6%	-$187.7M+33.5%	-$282.2M+15.1%	-$332.3M-4.1%	-$319.2M-162.3%	-$121.7M-3012.0%	-$3.9M-113.4%	$29.2M-66.2%	$86.2M-37.4%	$137.7M-24.2%	$181.5M-11.7%	$205.6M
Retained Earnings	$210.8M-12.8%	$241.7M+10.4%	$219.0M+11.8%	$195.9M+6.9%	$183.2M-16.4%	$219.2M+6.5%	$205.7M-15.1%	$242.2M-17.1%	$292.3M+33.3%	$219.3M+52.5%	$143.8M+54.8%	$92.9M+124.9%	$41.3M-88.4%	$356.5M+19.3%	$298.8M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$805.0M-9.6%	$831.9M-7.4%	$837.5M-5.8%	$884.1M+2.7%	$890.4M+6.2%	$898.1M+6.0%	$889.0M+1.6%	$860.9M-1.9%
Current Assets	$234.4M-1.9%	$240.4M-0.7%	$237.4M+3.0%	$270.8M+25.5%	$238.8M+5.8%	$242.1M+7.2%	$230.6M-0.2%	$215.9M-12.5%
Cash & Equivalents	$28.5M-14.4%	$39.0M-11.3%	$34.6M-8.9%	$39.0M+122.1%	$33.3M+37.0%	$44.0M+58.5%	$38.0M-6.5%	$17.6M-53.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$32.5M-13.2%	$36.2M-2.7%	$34.3M-2.6%	$35.8M-2.0%	$37.5M-0.5%	$37.2M-2.3%	$35.2M-2.4%	$36.5M-3.1%
Accounts Receivable	$94.5M-9.0%	$100.7M+0.7%	$103.1M+1.4%	$104.4M+2.5%	$103.9M+11.2%	$99.9M+5.7%	$101.7M-2.5%	$101.8M-7.2%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$64.8M-15.7%	$67.2M-11.4%	$67.6M-10.4%	$67.5M-11.8%	$76.9M+1.8%	$75.9M-0.1%	$75.5M-1.0%	$76.5M+0.6%
Total Liabilities	$1.2B-4.6%	$1.3B-3.4%	$1.3B-2.5%	$1.3B+2.5%	$1.3B+1.8%	$1.3B+1.7%	$1.3B-1.2%	$1.3B-4.6%
Current Liabilities	$282.8M-3.4%	$284.7M+0.6%	$291.0M+4.7%	$310.8M+14.9%	$292.7M+6.4%	$282.9M+0.1%	$278.0M-8.7%	$270.5M-10.2%
Non-Current Liabilities	$963.4M-5.0%	$984.7M-4.5%	$979.2M-4.4%	$996.7M-0.8%	$1.0B+0.5%	$1.0B+2.1%	$1.0B+1.1%	$1.0B-2.9%
Long-Term Debt	$715.2M-1.5%	$727.3M-2.0%	$710.4M-4.2%	$727.1M+0.8%	$726.3M-4.3%	$741.9M-2.5%	$741.6M-2.1%	$721.4M-6.2%
Total Equity	-$453.1M-4.9%	-$449.1M-4.0%	-$444.8M-3.5%	-$439.3M-1.9%	-$432.0M+6.4%	-$431.9M+6.5%	-$429.5M+6.4%	-$430.9M+9.3%
Retained Earnings	$195.3M-15.0%	$202.6M-14.1%	$210.8M-12.8%	$219.0M-9.6%	$229.9M+6.5%	$235.8M+7.9%	$241.7M+10.4%	$242.3M+16.4%

PZZA Cash Flow Statement

PZZA quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$95.0M	$126.0M+18.2%	$106.6M-44.8%	$193.1M+63.9%	$117.8M-36.2%	$184.7M-0.9%	$186.4M+201.9%	$61.7M-33.2%	$92.5M-31.5%	$135.0M-10.2%	$150.3M-11.9%	$170.5M+39.0%	$122.6M+21.0%	$101.4M-2.9%	$104.4M+3.3%	$101.0M
Depreciation & Amortization	N/A	$92.2M+32.9%	$69.4M+8.3%	$64.1M+23.2%	$52.0M+6.6%	$48.8M-1.8%	$49.7M+5.1%	$47.3M+1.9%	$46.4M+6.3%	$43.7M+6.5%	$41.0M+1.7%	$40.3M+0.9%	$40.0M+13.8%	$35.1M+7.0%	$32.8M+0.4%	$32.7M
Stock-Based Compensation	N/A	$15.0M+56.2%	$9.6M-46.5%	$17.9M-2.5%	$18.4M+8.7%	$16.9M+3.7%	$16.3M+6.6%	$15.3M+54.0%	$9.9M-4.6%	$10.4M+2.9%	$10.1M+7.4%	$9.4M+8.2%	$8.7M+17.6%	$7.4M+7.3%	$6.9M+3.0%	$6.7M
Capital Expenditures	$60.7M	$64.7M-10.7%	$72.5M-5.4%	$76.6M-2.3%	$78.4M+14.3%	$68.6M+92.3%	$35.7M-5.5%	$37.7M-10.3%	$42.0M-20.1%	$52.6M-5.3%	$55.6M+42.5%	$39.0M-19.9%	$48.7M-4.1%	$50.8M+19.1%	$42.6M+45.4%	$29.3M
Free Cash Flow	$34.2M	$61.3M+79.5%	$34.1M-70.7%	$116.4M+195.4%	$39.4M-66.1%	$116.1M-23.0%	$150.8M+527.3%	$24.0M-52.3%	$50.4M-38.8%	$82.4M-13.0%	$94.7M-28.0%	$131.5M+77.7%	$74.0M+46.2%	$50.6M-18.0%	$61.8M-13.9%	$71.7M
Investing Cash Flow	-$20.0M	-$21.5M-23.9%	-$17.3M+76.9%	-$75.1M-19.6%	-$62.8M+1.1%	-$63.5M-54.6%	-$41.1M-26.1%	-$32.6M+16.0%	-$38.8M+31.3%	-$56.5M-22.1%	-$46.3M-18.8%	-$39.0M	N/A	N/A	N/A	-$27.5M
Financing Cash Flow	-$79.7M	-$106.3M-15.9%	-$91.7M+26.1%	-$124.1M-62.7%	-$76.2M+57.8%	-$180.5M-315.4%	-$43.5M-25.7%	-$34.6M+28.1%	-$48.1M+33.3%	-$72.1M+33.9%	-$109.0M+16.3%	-$130.3M	N/A	N/A	N/A	-$102.6M
Dividends Paid	$61.5M	$61.1M+1.0%	$60.6M+3.6%	$58.5M+6.7%	$54.8M+35.7%	$40.4M-6.4%	$43.1M+5.4%	$40.9M+41.0%	$29.0M-5.5%	$30.7M+10.1%	$27.9M+12.3%	$24.8M+14.3%	$21.7M+101.3%	$10.8M	N/A	N/A
Share Buybacks	N/A	$0-100.0%	$2.1M-99.0%	$210.3M+68.3%	$125.0M+72.4%	$72.5M+2584.2%	$2.7M	N/A	$158.0M-24.6%	$209.6M+71.3%	$122.4M+2.2%	$119.8M+2.0%	$117.4M-1.0%	$118.6M+11.8%	$106.1M+62.4%	$65.3M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$28.6M-19.4%	$7.2M-76.9%	$19.8M-61.0%	$39.3M+182.5%	$35.5M+18.5%	$31.3M+161.4%	$50.7M-23.2%	$13.9M-58.1%
Depreciation & Amortization	$19.2M+2.3%	$17.7M-3.3%	$30.2M+78.7%	$24.9M+44.3%	$18.8M+7.0%	$18.3M+3.8%	$16.9M-2.3%	$17.3M+5.2%
Stock-Based Compensation	$3.1M-20.1%	$4.4M+20.2%	N/A	$4.6M+38.1%	$3.8M+31.2%	$3.7M+1091.6%	N/A	$3.4M
Capital Expenditures	$12.9M-28.6%	$13.5M+10.0%	$17.7M-30.8%	$16.7M-6.1%	$18.1M+12.3%	$12.2M-6.3%	$25.6M-0.6%	$17.8M+10.1%
Free Cash Flow	$15.7M-9.9%	-$6.2M-132.6%	$2.1M-91.6%	$22.7M+688.5%	$17.4M+25.7%	$19.1M+1883.8%	$25.2M-37.6%	-$3.8M-122.6%
Investing Cash Flow	-$12.8M-3.9%	-$5.2M+27.1%	$16.1M+165.1%	-$18.2M-158.3%	-$12.3M+10.1%	-$7.1M+30.2%	-$24.8M-41.9%	$31.3M+242.7%
Financing Cash Flow	-$26.3M+23.0%	$181K+101.0%	-$38.0M-647.8%	-$15.5M+70.4%	-$34.2M-72.4%	-$18.6M-27.2%	-$5.1M+88.7%	-$52.2M-197.7%
Dividends Paid	$15.5M+1.5%	$15.3M+1.0%	$15.3M+1.0%	$15.3M+1.0%	$15.3M+1.2%	$15.2M+0.7%	$15.2M+2.5%	$15.2M+0.1%
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	$2.1M	$0

PZZA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PZZA quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	28.9%+0.7pp	28.2%+1.2pp	27.0%+1.1pp	25.9%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	4.3%-3.3pp	7.6%+0.7pp	6.9%+1.7pp	5.2%-2.9pp	8.1%+3.1pp	5.0%+3.5pp	1.5%-0.4pp	1.9%-6.6pp	8.5%-1.1pp	9.6%+1.3pp	8.3%+1.0pp	7.4%0.0pp	7.4%0.0pp	7.4%+0.3pp	7.1%
Net Margin	1.5%-2.6pp	4.0%+0.2pp	3.8%+0.6pp	3.2%-2.6pp	5.8%+2.6pp	3.2%+2.9pp	0.3%+0.1pp	0.1%-5.6pp	5.7%-0.3pp	6.0%+1.4pp	4.6%0.0pp	4.6%-0.2pp	4.8%+0.2pp	4.6%+0.1pp	4.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	259.4%+174.3pp	85.0%+34.5pp	50.5%+16.5pp	34.0%+7.4pp	26.6%
Return on Assets	3.6%-5.7pp	9.4%0.0pp	9.4%+1.5pp	7.8%-5.7pp	13.6%+6.9pp	6.6%+6.0pp	0.7%+0.3pp	0.4%-18.0pp	18.4%-1.6pp	20.1%+4.7pp	15.3%+0.8pp	14.5%-0.4pp	15.0%+0.9pp	14.1%0.0pp	14.0%
Current Ratio	0.820.0x	0.83+0.1x	0.76-0.2x	0.95+0.1x	0.89-0.2x	1.06+0.2x	0.87-0.2x	1.04-0.2x	1.28+0.1x	1.140.0x	1.15-0.2x	1.38+0.1x	1.28+0.1x	1.150.0x	1.17
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	8.74+6.1x	2.67+1.5x	1.15+0.7x	0.49+0.2x	0.25
Asset Turnover	2.45+0.1x	2.32-0.1x	2.440.0x	2.43+0.1x	2.34+0.3x	2.08-0.1x	2.22-0.6x	2.79-0.4x	3.21-0.1x	3.340.0x	3.31+0.1x	3.17+0.1x	3.100.0x	3.06-0.1x	3.12
FCF Margin	3.0%+1.3pp	1.7%-3.8pp	5.5%+3.6pp	1.9%-3.7pp	5.6%-2.7pp	8.3%+6.8pp	1.5%-1.6pp	3.0%-1.6pp	4.6%-0.9pp	5.5%-2.5pp	8.0%+3.4pp	4.6%+1.1pp	3.5%-1.1pp	4.6%-1.3pp	5.9%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	29.7%0.0pp	28.8%-0.5pp	29.1%+0.3pp	27.4%+0.4pp	29.8%+1.2pp	29.3%+0.8pp	28.8%	27.0%
Operating Margin	4.8%+0.2pp	4.3%-0.3pp	4.9%-0.6pp	3.2%-9.7pp	4.6%-0.9pp	4.6%-1.9pp	5.6%-1.9pp	12.9%+6.8pp
Net Margin	1.8%0.0pp	1.5%-0.3pp	1.4%-1.4pp	0.9%-7.3pp	1.8%-0.6pp	1.8%-1.1pp	2.8%-1.8pp	8.3%+5.2pp
Return on Assets	1.1%0.0pp	0.9%-0.2pp	0.8%-0.8pp	0.5%-4.3pp	1.1%-0.4pp	1.0%-0.7pp	1.7%-1.3pp	4.9%+3.0pp
Current Ratio	0.830.0x	0.840.0x	0.820.0x	0.87+0.1x	0.820.0x	0.86+0.1x	0.83+0.1x	0.800.0x
Asset Turnover	0.600.0x	0.580.0x	0.590.0x	0.570.0x	0.590.0x	0.580.0x	0.60-0.1x	0.590.0x
FCF Margin	3.3%0.0pp	-1.3%-5.0pp	0.4%-4.3pp	4.5%+5.2pp	3.3%+0.6pp	3.7%+3.9pp	4.8%-2.3pp	-0.8%-4.0pp

Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.

Note: Shareholder equity is negative (-$444.8M), 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 (0.82), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Papa John's International Inc PZZA	FY2025	$2.1B	$30.5M	1.5%	$637.4M	39/100
The Wendy's Company WEN	FY2025	$2.2B	$165.1M	7.6%	$1.2B	53/100
ARCOS DORADOS HOLDINGS INC. ARCO	FY2025	$4.7B	$212.1M	4.5%	$1.7B	46/100
SUPER HI INTERNATIONAL HOLDING LTD. HDL	FY2025	$686.4M	$25.3M	3.7%	$700.2M	39/100
Cracker Barrel Old Country Store, Inc,. CBRL	FY2026	$3.3B	$31.7M	0.9%	$1.3B	27/100
First Watch Restaurant Group, Inc. FWRG	FY2025	$1.2B	$19.4M	1.6%	$648.0M	39/100

Where Papa John's International Inc Ranks

Frequently Asked Questions

What is Papa John's International Inc's annual revenue?

Papa John's International Inc (PZZA) reported $2.1B in total revenue for fiscal year 2025. This represents a -0.3% 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 John's International Inc's revenue growing?

Papa John's International Inc (PZZA) revenue declined by 0.3% year-over-year, from $2.1B to $2.1B in fiscal year 2025.

Is Papa John's International Inc profitable?

Yes, Papa John's International Inc (PZZA) reported a net income of $30.5M in fiscal year 2025, with a net profit margin of 1.5%.

What is Papa John's International Inc's EBITDA?

Papa John's International Inc (PZZA) had EBITDA of $181.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Papa John's International Inc have?

As of fiscal year 2025, Papa John's International Inc (PZZA) had $34.6M in cash and equivalents against $710.4M in long-term debt.

What is Papa John's International Inc's gross margin?

Papa John's International Inc (PZZA) had a gross margin of 28.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Papa John's International Inc's operating margin?

Papa John's International Inc (PZZA) had an operating margin of 4.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Papa John's International Inc's net profit margin?

Papa John's International Inc (PZZA) had a net profit margin of 1.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Papa John's International Inc pay dividends?

Yes, Papa John's International Inc (PZZA) paid $1.84 per share in dividends during fiscal year 2025.

What is Papa John's International Inc's free cash flow?

Papa John's International Inc (PZZA) generated $61.3M in free cash flow during fiscal year 2025. This represents a 79.5% 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 John's International Inc's operating cash flow?

Papa John's International Inc (PZZA) generated $126.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Papa John's International Inc's total assets?

Papa John's International Inc (PZZA) had $837.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Papa John's International Inc's capital expenditures?

Papa John's International Inc (PZZA) invested $64.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Papa John's International Inc have outstanding?

Papa John's International Inc (PZZA) had 33M shares outstanding as of fiscal year 2025.

What is Papa John's International Inc's current ratio?

Papa John's International Inc (PZZA) had a current ratio of 0.82 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Papa John's International Inc's return on assets (ROA)?

Papa John's International Inc (PZZA) had a return on assets of 3.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Papa John's International Inc's P/E ratio?

Papa John's International Inc (PZZA) trades at 23.1x earnings, its market capitalization divided by net income of $27.6M net income, trailing 12 months to June 28, 2026. The market capitalization is $637.4M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Papa John's International Inc's price-to-sales ratio?

Papa John's International Inc (PZZA) trades at 0.3x sales, its market capitalization divided by revenue of $2.0B revenue, trailing 12 months to June 28, 2026. The market capitalization is $637.4M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Why is Papa John's International Inc's debt-to-equity ratio negative or not reported?

Papa John's International Inc (PZZA) has negative shareholder equity of -$444.8M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 John's International Inc's Altman Z-Score?

Papa John's International Inc (PZZA) has an Altman Z-Score of 3.38, 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 John's International Inc's Piotroski F-Score?

Papa John's International Inc (PZZA) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Papa John's International Inc's earnings high quality?

Papa John's International Inc (PZZA) has an earnings quality ratio of 4.13x, 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.

Can Papa John's International Inc cover its interest payments?

Papa John's International Inc (PZZA) has an interest coverage ratio of 2.19x, meaning it can adequately 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 Papa John's International Inc?

Papa John's International Inc (PZZA) 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.