PZZA

MKT CAP:$1B

Papa John's International, Inc.

Market Cap

$1B

Consumer Cyclical·Restaurants·🇺🇸 United States·NASDAQ

Consumer Cyc.·Restaurants·🇺🇸·NASDAQ

Stock Price

$37.46-$2.84 (-7.05%)

Apr 17, 2026

Company Details

Papa John's International, Inc. operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through four segments: Domestic Company-Owned Restaurants,...

CEO

Todd Allan Penegor

IPO Date

Jun 8, 1993

Website

www.papajohns.com

Key Metrics TTM

Revenue

$2.1B

-4.0% YoY

Net Income

$83M

EPS (Diluted)

$2.52

Free Cash Flow

$34M

Revenue / Share

$62.49

Gross Margin

26.7%

Operating Margin

7.6%

Net Margin

4.1%

FCF Margin

1.7%

P/S

0.6x

P/E

14.6x

Earnings Reports

Q1 2025

May 14, 2026

PENDING

Q4 2024

Feb 27, 2025

$531M-7.1%EPS $0.44

Q3 2024

Nov 7, 2024

$507M-3.1%EPS $1.27

Q2 2024

Aug 8, 2024

$508MEPS $0.37

Q1 2024

May 9, 2024

$514MEPS $0.44

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$410M	$75M	$15M
Q2 21	$515M	$167M	$45M
Q4 21	$529M	$105M	$38M
Q2 22	$523M	$84M	$39M
Q3 23	$523M	$100M	$32M
Q4 23	$571M	$98M	$43M
Q1 24	$514M	$146M	$34M
Q2 24	$508M	$145M	$28M
Q3 24	$507M	$152M	$65M
Q4 24	$531M	$107M	$30M

Valuation

Quarter	P/S	P/E
Q1 20	—	—
Q2 21	—	—
Q4 21	—	—
Q2 22	0.6x	13.4x
Q3 23	0.6x	12.4x
Q4 23	0.6x	13.2x
Q1 24	0.6x	14.9x
Q2 24	0.6x	17.7x
Q3 24	0.6x	12.9x
Q4 24	0.6x	14.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	$34M	$28M
Q2 21	$65M	$50M
Q4 21	-$9M	-$36M
Q2 22	$20M	-$320.0K
Q3 23	$33M	$17M
Q4 23	$66M	$40M
Q1 24	$12M	-$1M
Q2 24	$30M	$14M
Q3 24	$14M	-$4M
Q4 24	$51M	$25M

Capital Expenditures

Quarter	CapEx
Q1 20	$6M
Q2 21	$14M
Q4 21	$27M
Q2 22	$21M
Q3 23	$16M
Q4 23	$26M
Q1 24	$13M
Q2 24	$16M
Q3 24	$18M
Q4 24	$26M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 23	+27.6%	+24.5%
Q4 23	+10.9%	+12.4%
Q1 24	-2.8%	-2.1%
Q2 24	-2.8%	-0.8%
Q3 24	-3.1%	-10.1%
Q4 24	-7.1%	-5.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$0	0.0%
Q2 21	$0	0.0%
Q4 21	$0	0.0%
Q2 22	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 20	$48M	—	—
Q2 21	$50M	—	—
Q4 21	$54M	—	—
Q2 22	—	—	$45M
Q3 23	$50M	—	—
Q4 23	$51M	$5M	—
Q1 24	$48M	$37M	—
Q2 24	$51M	$42M	—
Q3 24	$14M	—	—
Q4 24	$53M	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$81M	$0	$81M
Q2 22	$52M	$0	$52M
Q3 22	$37M	$0	$37M
Q4 22	$47M	$0	$47M
Q1 23	$47M	$0	$47M
Q2 23	$44M	$0	$44M
Q3 23	$37M	$0	$37M
Q4 23	$41M	$0	$41M
Q1 24	$28M	$0	$28M
Q2 24	$24M	$0	$24M
Q3 24	$18M	$0	$18M
Q4 24	$38M	$0	$38M
Q1 25	$44M	$0	$44M
Q2 25	$33M	$0	$33M
Q3 25	$39M	$0	$39M
Q4 25	$37M	$0	$37M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	32M	—	—
Q2 21	35M	+7.5%	—
Q4 21	37M	+5.1%	—
Q2 22	36M	-1.9%	—
Q3 23	33M	-8.4%	+1.5%
Q4 23	33M	+0.1%	-5.5%
Q1 24	33M	+0.2%	-9.9%
Q2 24	33M	-0.2%	-8.3%
Q3 24	33M	+0.2%	+0.4%
Q4 24	33M	+0.1%	+0.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 20	$24.8K	17K
Q2 21	$30.8K	17K
Q4 21	$37.8K	14K
Q2 22	$37.3K	14K
Q3 23	$43.6K	12K
Q4 23	$43.3K	13K
Q1 24	$38.9K	13K
Q2 24	$38.5K	13K
Q3 24	$38.4K	13K
Q4 24	$46.6K	11K

Revenue / Employee