PZZANasdaqRetail-Eating PlacesFiscal year ends December 27
PAPA JOHNS INTERNATIONAL INC
Financials through Q2 FY2026, quarter ended Jun 28, 2026Last filing: 10-Q on Aug 6, 2026
$18.97−0.42 (-2.17%)
Close on Oct 19, 2026
- Market cap
- $628.46M
- P/E (TTM)
- 24.0
- Dividend yield
- 9.70%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
28.9%
Operating margin
4.3%−0.6 pts over 5 years
Net margin
1.5%−1.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -0.3% | -0.8% | +2.5% | +2.3% | |
| Gross profit | +2.1% | +2.9% | – | – | |
| Operating income | -43.1% | -6.5% | -0.2% | -4.2% | |
| Net income | -63.4% | -23.3% | -12.0% | -8.7% | |
| EPS, diluted | -64.6% | -21.9% | -6.8% | -7.2% | |
| Free cash flow | +79.5% | +15.9% | -16.5% | -7.3% | |
| Dividend per share | 0.0% | +6.1% | +15.4% | +11.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 813.8% | -18.9% | -7.0% | |
| Return on assets | 20.4% | 7.2% | 3.5% | |
| Current ratio | 1.14 | 1.06 | 0.82 | |
| Debt to equity | -76.66 | -1.23 | -1.61 | |
| Net debt to EBITDA | 1.38× | 1.56× | 3.74× | |
| Interest coverage | 22.2× | 5.3× | – | |
| Inventory turnover | – | – | 42.0× | |
| Capex to revenue | 3.2% | 2.0% | 3.2% | |
| Diluted shares | 38M | 33M | 33M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Papa Johns International generated $728.17M from operations and spent $1.05B on capital expenditure, dividends and share buybacks. 34% of that went back into the business.
Generated
$728.17M
Used
$1.05B
Capital expenditure$360.75M34%Dividends$275.27M26%Share buybacks$409.93M39%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin1.5%
×Asset turnover2.38×
×Equity multiplier-1.97×
=Return on equity, FY2025-7.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 1.5% | 2.38× | -1.97× | -7.0% |
| FY2024 | 4.1% | 2.33× | -1.99× | -18.8% |
| FY2023 | 3.8% | 2.46× | -2.33× | -22.0% |
| FY2022 | 3.2% | 2.40× | -3.69× | -28.6% |
| FY2021 | 5.8% | 2.35× | -3.74× | -51.1% |
| FY2020 | 3.2% | 2.26× | -2.61× | -18.9% |
| FY2019 | 0.3% | 2.44× | -2.04× | -1.5% |
| FY2018 | 0.1% | 2.89× | -2.61× | -1.1% |
| FY2017 | 5.7% | 3.34× | -8.50× | -162.9% |
| FY2016 | 6.0% | 3.40× | 39.83× | 813.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$30.53M
- Cash generatingOperating cash flow above zero$126.00M
- Return on assets improvedROA up on the prior year9.5% → 3.4%
- Earnings backed by cashOperating cash flow above net income$126.00M vs $30.53M
- Less leverageLong-term debt to assets fell83.4% → 84.8%
- Better liquidityCurrent ratio rose0.83 → 0.82
- No dilutionShare count did not rise33M → 33M
- Gross margin improvedGross margin up on the prior year28.21% → 28.89%
- More efficientAsset turnover rose2.35 → 2.31