NMS · Financial Statements

Papa John's International, Inc. (PZZA) Financial Statements

$18.10 NMS: PZZA Market Cap $595.88M

Papa John's International, Inc. most recently reported annual revenue of $2.1B, net profit of $31.0M. Revenue grew at an average annual rate of 2.5% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Papa John's International, Inc.: Revenue rose from $1.7B in 2016 to $2.1B in 2025, a change of +19.8% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 9.6% to 4.3%, a shift of -5.3 percentage points; the most recent year shows net profit of $31.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$1.7B$1.8B$1.6B$1.6B$1.8B$2.1B$2.1B$2.1B$2.1B$2.1B
Operating Expenses$1.5B$1.6B$1.5B$1.6B$1.7B$1.9B$2.0B$2.0B$1.9B$2.0B
Operating Profit$165.0M$151.0M$30.0M$25.0M$90.0M$168.0M$109.0M$147.0M$157.0M$89.0M
Operating Margin9.6%8.5%1.9%1.5%5.0%8.1%5.2%6.9%7.6%4.3%
Other Income$-6.0M$-11.0M$-25.0M$-19.0M$-15.0M$-17.0M$-25.0M$-43.0M$-43.0M$-41.0M
Interest$7.0M$11.0M$26.0M$21.0M$17.0M$19.0M$25.0M$43.0M$43.0M$41.0M
Depreciation$41.0M$44.0M$46.0M$47.0M$50.0M$49.0M$52.0M$64.0M$69.0M$92.0M
Profit Before Tax$159.0M$140.0M$6.0M$5.0M$75.0M$151.0M$84.0M$104.0M$114.0M$48.0M
Tax$31.3M$24.1M$44.9M$-12.1M$19.6M$17.2M$17.2M$20.1M$26.2M$33.6M
Net Profit$103.0M$104.0M$2.0M$5.0M$58.0M$120.0M$68.0M$82.0M$83.0M$31.0M
EPS$2.74$2.83$0.05$0.15$1.77$3.40$1.89$2.48$2.54$0.90
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$523.0M$571.0M$514.0M$508.0M$507.0M$531.0M$518.0M$529.0M$508.0M$498.0M$479.0M$482.0M
Operating Expenses$491.0M$529.0M$480.0M$480.0M$442.0M$501.0M$494.0M$505.0M$492.0M$481.0M$454.0M$459.0M
Operating Profit$32.0M$43.0M$34.0M$28.0M$65.0M$30.0M$24.0M$24.0M$16.0M$17.0M$24.0M$23.0M
Operating Margin6.1%7.5%6.6%5.6%12.9%5.6%4.6%4.6%3.2%3.5%5.0%4.8%
Interest$11.0M$12.0M$11.0M$11.0M$11.0M$10.0M$10.0M$11.0M$10.0M$71.0M$10.0M$10.0M
Profit Before Tax$20.0M$31.0M$23.0M$17.0M$55.0M$20.0M$14.0M$14.0M$6.0M$14.0M$11.0M$14.0M
Tax$22.1M$14.1M$34.2M$27.7M$23.5M$23.4M$32.7M$30.4M$28.2M$39.9M$37.4M$36.4M
Net Profit$16.0M$26.0M$15.0M$12.0M$42.0M$15.0M$9.0M$10.0M$5.0M$7.0M$7.0M$9.0M
EPS$0.48$0.79$0.44$0.37$1.27$0.44$0.27$0.28$0.13$0.21$0.21$0.24

Over the 10 years reported for Papa John's International, Inc., borrowings increased from $300.0M in 2016 to $1.1B in 2025, cash stood at $37.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 0.81 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$513.0M$556.0M$571.0M$731.0M$873.0M$886.0M$864.0M$875.0M$889.0M$927.0M
Current Assets$146.0M$170.0M$172.0M$182.0M$306.0M$255.0M$251.0M$231.0M$231.0M$237.0M
Cash$16.0M$22.0M$19.0M$28.0M$130.0M$71.0M$47.0M$41.0M$38.0M$37.0M
Inventory$25.0M$31.0M$27.0M$28.0M$30.0M$35.0M$41.0M$36.0M$35.0M$34.0M
Receivables$65.0M$73.0M$100.0M$82.0M$103.0M$103.0M$118.0M$112.0M$109.0M$113.0M
Fixed Assets$230.0M$234.0M$227.0M$369.0M$366.0M$421.0M$447.0M$479.0M$486.0M$452.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$10.0M$16.0M$23.0M$0$0$0$0$0$0$3.0M
Other Assets$86.0M$87.0M$85.0M$80.0M$81.0M$81.0M$71.0M$76.0M$75.0M$68.0M
Total Liabilities$503.0M$662.0M$873.0M$1.0B$1.1B$1.1B$1.1B$1.3B$1.3B$1.4B
Current Liabilities$128.0M$133.0M$165.0M$208.0M$289.0M$287.0M$265.0M$305.0M$278.0M$291.0M
Borrowings$300.0M$467.0M$621.0M$525.0M$514.0M$686.0M$807.0M$966.0M$971.0M$1.1B
Other Liabilities$203.0M$195.0M$252.0M$522.0M$620.0M$367.0M$326.0M$352.0M$331.0M$267.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$10.0M$-106.0M$-302.0M$-332.0M$-282.0M$-188.0M$-286.0M$-459.0M$-430.0M$-445.0M

For Papa John's International, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $61.0M; free cash flow was positive in 10 of 10 years; financing activities used $6.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$144.0M$135.0M$73.0M$62.0M$186.0M$185.0M$118.0M$193.0M$107.0M$126.0M
Investing Cash Flow$-96.0M$-113.0M$-85.0M$-70.0M$-77.0M$-132.0M$-141.0M$-152.0M$-90.0M$-86.0M
Financing Cash Flow$-113.0M$-217.0M$-163.0M$6.0M$-11.0M$-93.0M$-131.0M$-209.0M$-6.0M$-6.0M
Net Cash Flow$-5.0M$7.0M$-3.0M$-5.0M$102.0M$-60.0M$-23.0M$-7.0M$-3.0M$-1.0M
Free Cash Flow$89.0M$82.0M$31.0M$24.0M$151.0M$116.0M$39.0M$116.0M$34.0M$61.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-0.35
EV / EBITDA6.34
FCF Yield5.70%
Quick Ratio0.71
Interest Coverage1.00
Return 1Y-30.09%
Return 3Y-58.47%
Return 5Y-64.76%

Papa John's International, Inc. (PZZA) financials — frequently asked questions

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

Papa John's International, Inc. (PZZA) reported annual revenue of $2.1B in its most recent fiscal year.

What is Papa John's International, Inc.'s net profit?

Papa John's International, Inc. (PZZA) reported net profit of $31.0M in its most recent fiscal year.

What is PZZA EV/EBITDA?

Papa John's International, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 6.34.

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