Papa John's International Inc. (PZZA) financial statements: income statement, balance sheet and cash flow
Papa John's International Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 28, 2025 · FY), Papa John's International Inc. reported revenue of $2.1B (-0.3% year on year) and net income of $32.1M (-61.9% year on year).
Income statement
Papa John's International Inc. income statement, fiscal years
Line item
Dec 28, 2025 · FY
Dec 29, 2024 · FY
Dec 31, 2023 · FY
Dec 25, 2022 · FY
Total revenues
$2.1B
$2.1B
$2.1B
$2.1B
Cost of sales
$1.5B
$1.5B
—
—
General and administrative expenses
$244.3M
$190.5M
$210.4M
$217.4M
Depreciation and amortization
$92.2M
$69.4M
$64.1M
$52.0M
Advertising funds expense
$167.6M
$164.3M
—
—
Total costs and expenses
$2.0B
$1.9B
$2.0B
$2.0B
Operating income
$89.1M
$156.7M
$147.1M
$109.0M
Net interest expense
($40.8M)
($42.6M)
($43.5M)
($25.3M)
Income before income taxes
$48.4M
$114.1M
$103.7M
$83.8M
Income tax expense
($16.3M)
$29.9M
$20.9M
$14.4M
Net income
$32.1M
$84.2M
$82.8M
$69.3M
Net income attributable to noncontrolling interests
($1.6M)
($711.0K)
($701.0K)
($1.6M)
Net income attributable to the Company
$30.5M
$83.5M
$82.1M
$67.8M
Net income attributable to common shareholders
$29.6M
$83.3M
$82.1M
$67.4M
Basic earnings per common share (in dollars per share)
$0.90
$2.55
$2.49
$1.90
Diluted earnings per common share (in dollars per share)
$0.90
$2.54
$2.48
$1.89
Basic weighted average common shares outstanding (in shares)
32.9M
32.7M
32.9M
35.5M
Diluted weighted average common shares outstanding (in shares)
32.9M
32.8M
33.2M
35.7M
Papa John's International Inc. income statement, quarters
Line item
Jun 28, 2026 · Q2
Mar 29, 2026 · Q1
Sep 28, 2025 · Q3
Jun 29, 2025 · Q2
Total revenues
$482.4M
$478.6M
$508.2M
$529.2M
Cost of sales
$339.0M
$340.9M
$369.1M
$371.7M
General and administrative expenses
$59.0M
$56.0M
$56.5M
$70.1M
Depreciation and amortization
$19.2M
$17.7M
$24.9M
$18.8M
Advertising funds expense
$42.0M
$43.2M
$41.5M
$44.0M
Total costs and expenses
$459.2M
$457.9M
$492.0M
$504.7M
Operating income
$23.2M
$20.8M
$16.2M
$24.5M
Net interest expense
($9.5M)
($9.7M)
($9.9M)
($10.6M)
Income before income taxes
$13.7M
$11.1M
$6.2M
$13.9M
Income tax expense
($5.0M)
($4.1M)
($1.8M)
($4.2M)
Net income
$8.7M
$6.9M
$4.5M
$9.7M
Net (income) loss attributable to noncontrolling interests
($167.0K)
$317.0K
$234.0K
($140.0K)
Net income attributable to the Company
$8.5M
$7.3M
$4.7M
$9.5M
Net income attributable to common shareholders
$8.1M
$7.0M
$4.4M
$9.3M
Basic earnings per common share (in dollars per share)
$0.25
$0.21
$0.14
$0.28
Diluted earnings per common share (in dollars per share)
$0.24
$0.21
$0.13
$0.28
Basic weighted average common shares outstanding (in shares)
33.0M
32.9M
32.9M
32.8M
Diluted weighted average common shares outstanding (in shares)
33.1M
33.0M
33.0M
33.0M
Balance sheet
Papa John's International Inc. balance sheet, fiscal years
Line item
Dec 28, 2025 · FY
Dec 29, 2024 · FY
Dec 31, 2023 · FY
Dec 25, 2022 · FY
Cash, cash equivalents, and restricted cash
$37.0M
—
—
—
Accounts receivable (less allowance for credit losses of $12,129 in 2025 and $8,468 in 2024)
$103.1M
$101.7M
$104.2M
$102.5M
Notes receivable, current portion
$3.4M
$4.9M
$5.2M
$6.8M
Income tax receivable
$6.2M
$2.2M
$2.6M
$8.8M
Inventories
$34.3M
$35.2M
$36.1M
$41.4M
Prepaid expenses and other current assets
$48.9M
$48.6M
$42.3M
$44.1M
Assets held for sale
$4.6M
—
—
—
Total current assets
$237.4M
$230.6M
$231.0M
$251.0M
Property and equipment, net
$251.3M
$273.3M
$282.8M
$249.8M
Finance lease right-of-use assets, net
$39.0M
$28.8M
$31.7M
$24.9M
Operating lease right-of-use assets
$161.6M
$184.4M
$164.2M
$172.4M
Notes receivable, less current portion (less allowance for credit losses of $17,777 in 2025 and $15,238 in 2024)
$3.3M
$8.9M
$12.3M
$21.2M
Goodwill
$67.6M
$75.5M
$76.2M
$70.6M
Other assets
$77.3M
$87.6M
$76.7M
$72.2M
Total assets
$837.5M
$889.0M
$875.0M
$864.2M
Accounts payable
$61.2M
$61.8M
$74.9M
$62.3M
Income and other taxes payable
$8.9M
$12.0M
$17.9M
$8.8M
Accrued expenses and other current liabilities
$169.0M
$155.6M
$158.2M
$142.5M
Current deferred revenue
$13.1M
$15.5M
$20.4M
$21.3M
Current finance lease liabilities
$10.0M
$7.3M
$9.0M
$6.8M
Current operating lease liabilities
$23.7M
$25.8M
$24.1M
$23.4M
Current portion of long-term debt
$5.0M
—
—
—
Total current liabilities
$291.0M
$278.0M
$304.6M
$265.2M
Deferred revenue
$19.3M
$21.3M
$20.4M
$23.2M
Long-term finance lease liabilities
$30.8M
$22.9M
$24.1M
$19.0M
Long-term operating lease liabilities
$156.4M
$173.6M
$151.1M
$160.9M
Long-term debt, net
$710.4M
$741.6M
$757.4M
$597.1M
Other long-term liabilities
$62.3M
$64.9M
$60.2M
$68.3M
Total liabilities
$1.3B
$1.3B
$1.3B
$1.1B
Redeemable noncontrolling interests
$980.0K
$903.0K
$851.0K
$1.2M
Common stock ($0.01 par value per share; issued 49,303 at December 28, 2025 and 49,283 at December 29, 2024)
$493000.00
$493000.00
$492000.00
$491000.00
Additional paid-in capital
$457.1M
$452.4M
$452.3M
$449.8M
Accumulated other comprehensive loss
($6.5M)
($8.5M)
($7.8M)
($10.1M)
Retained earnings
$210.8M
$241.7M
$219.0M
$195.9M
Treasury stock (16,502 shares at December 28, 2025 and 16,637 shares at December 29, 2024, at cost)
-1.1B
-1.1B
-1.1B
-922.4M
Total stockholders’ deficit
($444.8M)
($429.5M)
($459.1M)
($286.4M)
Noncontrolling interests in subsidiaries
$11.1M
$15.3M
$15.5M
$15.7M
Total Stockholders’ deficit
($433.7M)
($414.2M)
($443.6M)
($270.7M)
Total Liabilities, Redeemable noncontrolling interests and Stockholders’ deficit
$837.5M
$889.0M
$875.0M
$864.2M
Papa John's International Inc. balance sheet, quarters
Line item
Jun 28, 2026
Mar 29, 2026
Sep 28, 2025
Jun 29, 2025
Cash, cash equivalents, and restricted cash
$28.5M
$39.0M
—
—
Accounts receivable, net
$94.5M
$100.7M
$104.4M
$103.9M
Notes receivable, current portion
$1.6M
$2.3M
$3.8M
$4.8M
Income tax receivable
$1.6M
$3.9M
$3.7M
$2.7M
Inventories
$32.5M
$36.2M
$35.8M
$37.5M
Prepaid expenses and other current assets
$65.1M
$58.3M
$53.3M
$56.7M
Assets held for sale
$10.5M
$0
$30.9M
—
Total current assets
$234.4M
$240.4M
$270.8M
$238.8M
Property and equipment, net
$241.7M
$252.3M
$262.3M
$269.2M
Finance lease right-of-use assets, net
$35.8M
$38.0M
$36.3M
$39.4M
Operating lease right-of-use assets, net
$152.8M
$159.6M
$161.0M
$179.4M
Notes receivable, less current portion, net
$4.1M
$3.9M
$3.2M
$4.0M
Goodwill
$64.8M
$67.2M
$67.5M
$76.9M
Other assets
$71.4M
$70.5M
$83.0M
$82.8M
Total assets
$805.0M
$831.9M
$884.1M
$890.4M
Accounts payable
$67.9M
$67.4M
$70.4M
$74.6M
Income and other taxes payable
$8.8M
$9.0M
$9.6M
$5.9M
Accrued expenses and other current liabilities
$149.4M
$155.8M
$164.3M
$161.8M
Current deferred revenue
$8.9M
$10.8M
$12.6M
$13.4M
Current finance lease liabilities
$10.1M
$10.2M
$9.7M
$10.1M
Current operating lease liabilities
$22.8M
$23.8M
$25.7M
$27.0M
Current portion of long-term debt
$12.3M
$7.8M
$2.5M
—
Liabilities held for sale
$2.6M
—
$16.0M
—
Total current liabilities
$282.8M
$284.7M
$310.8M
$292.7M
Deferred revenue
$17.5M
$18.4M
$18.6M
$19.7M
Long-term finance lease liabilities
$27.7M
$29.6M
$28.3M
$31.1M
Long-term operating lease liabilities
$147.4M
$153.8M
$156.8M
$172.2M
Long-term debt, less current portion, net
$715.2M
$727.3M
$727.1M
$726.3M
Other long-term liabilities
$55.6M
$55.4M
$65.9M
$64.4M
Total liabilities
$1.2B
$1.3B
$1.3B
$1.3B
Redeemable noncontrolling interests
$1.1M
$989.0K
$925.0K
$892.0K
Common stock ($0.01 par value per share; issued 49,303 at June 28, 2026 and 49,303 at December 28, 2025)
$493000.00
$493000.00
$493000.00
$493000.00
Additional paid-in capital
$455.7M
$453.9M
$455.1M
$452.8M
Accumulated other comprehensive loss
($5.7M)
($6.0M)
($6.7M)
($6.0M)
Retained earnings
$195.3M
$202.6M
$219.0M
$229.9M
Treasury stock (16,385 shares at June 28, 2026 and 16,502 shares at December 28, 2025, at cost)
-1.1B
-1.1B
-1.1B
-1.1B
Total stockholders’ deficit
($453.1M)
($449.1M)
($439.3M)
($432.0M)
Noncontrolling interests in subsidiaries
$10.8M
$10.7M
$14.9M
$15.2M
Total Stockholders’ deficit
($442.3M)
($438.4M)
($424.4M)
($416.8M)
Total Liabilities, Redeemable noncontrolling interests and Stockholders’ deficit
$805.0M
$831.9M
$884.1M
$890.4M
Cash flow statement
Papa John's International Inc. cash flow statement, fiscal years
Line item
Dec 28, 2025 · FY
Dec 29, 2024 · FY
Dec 31, 2023 · FY
Dec 25, 2022 · FY
Net income
$32.1M
$84.2M
$82.8M
$69.3M
Provision for allowance for credit losses on accounts and notes receivable
$8.4M
$2.7M
$5.4M
$20.5M
Depreciation and amortization
$92.2M
$69.4M
$64.1M
$52.0M
Refranchising (gain)/loss and impairment loss
($15.8M)
—
$0
$12.1M
Deferred income taxes
$6.7M
($3.0M)
($6.0M)
$2.8M
Stock-based compensation expense
$15.0M
$9.6M
$17.9M
$18.4M
Loss/(gain) on disposal of property and equipment
$2.8M
($42.0M)
—
—
Other
$1.4M
$1.7M
$66.0K
$1.1M
Accounts receivable
($7.6M)
($465.0K)
($8.0M)
($29.2M)
Income tax receivable
($3.9M)
$345.0K
$6.2M
$586.0K
Inventories
$17.0K
$851.0K
$5.4M
($7.5M)
Prepaid expenses and other current assets
$816.0K
$319.0K
$817.0K
$5.6M
Other assets and liabilities
($8.3M)
($8.8M)
($11.8M)
($13.5M)
Accounts payable
($620.0K)
($10.0M)
$23.4M
($8.3M)
Income and other taxes payable
($3.1M)
($5.7M)
$9.1M
($10.7M)
Accrued expenses and other current liabilities
$7.0M
($2.0M)
$7.4M
$4.8M
Deferred revenue
($3.6M)
($6.2M)
($3.7M)
($257.0K)
Advertising fund assets and liabilities
$2.4M
($2.6M)
—
—
Net cash provided by operating activities
$126.0M
$106.6M
$193.1M
$117.8M
Purchases of property and equipment
($64.7M)
($72.5M)
($76.6M)
($78.4M)
Purchases of property and equipment related to damages from natural disasters
($9.7M)
—
—
—
Insurance proceeds related to damages from natural disasters
$6.3M
—
—
—
Notes issued
$0
($154.0K)
($4.3M)
($9.3M)
Repayments of notes issued
$6.4M
$4.2M
$4.7M
$13.0M
Acquisitions, net of cash acquired
$0
($125.0K)
($5.6M)
($1.2M)
Proceeds from dispositions and refranchising, net of cash transferred
$34.5M
$49.0M
$0
$13.6M
Proceeds from investments
$4.7M
—
—
—
Proceeds from the sale of property and equipment
$963.0K
—
$3.5M
—
Other
$0
$2.2M
$3.3M
($520.0K)
Net cash used in investing activities
($21.5M)
($17.3M)
($75.1M)
($62.8M)
Net (repayments) proceeds from revolving credit facilities
($224.5M)
($17.3M)
$159.0M
$115.0M
Proceeds from term loan
$200.0M
—
—
—
Debt issuance costs
($3.2M)
—
$0
$0
Proceeds from exercise of stock options
$414.0K
$1.1M
$2.3M
$4.0M
Acquisition of Company common stock (including excise tax payment)
$0
($2.1M)
($210.3M)
($125.0M)
Dividends paid to common stockholders
($61.1M)
($60.6M)
($58.5M)
($54.8M)
Tax payments for equity award issuances
($2.0M)
($3.6M)
($6.4M)
($9.5M)
Distributions to noncontrolling interests
($5.7M)
($825.0K)
($1.3M)
($1.2M)
Principal payments on finance leases
($10.1M)
($8.5M)
($8.8M)
—
Other
($19.0K)
$153.0K
$28.0K
($4.8M)
Net cash used in financing activities
($106.3M)
($91.7M)
($124.1M)
($76.2M)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
$738.0K
($244.0K)
($642.0K)
($2.0M)
Change in cash, cash equivalents, and restricted cash
($1.0M)
($2.6M)
($6.8M)
($23.2M)
Cash, cash equivalents, and restricted cash at beginning of period
$38.0M
$40.6M
$47.4M
$70.6M
Cash, cash equivalents, and restricted cash at end of period
$37.0M
—
—
—
Papa John's International Inc. cash flow statement, quarters
Line item
Jun 28, 2026 · YTD
Mar 29, 2026 · Q1
Sep 28, 2025 · YTD
Jun 29, 2025 · YTD
Net income
$15.6M
$6.9M
$23.5M
$19.0M
Provision for allowance for credit losses on accounts and notes receivable
$3.7M
$1.2M
$5.7M
$3.3M
Depreciation and amortization
$37.0M
$17.7M
$62.1M
$37.2M
Deferred income taxes
$664.0K
$684.0K
$1.7M
$1.6M
Stock-based compensation expense
$7.5M
$4.4M
$12.1M
$7.5M
Refranchising and impairment (gain) loss
($1.0M)
—
—
—
Loss on disposal of property and equipment
$729.0K
$610.0K
$2.8M
$2.6M
Other
$1.5M
$1.1M
$1.1M
$237.0K
Accounts receivable
$3.7M
$2.6M
($9.4M)
($5.3M)
Income tax receivable
$4.6M
$2.3M
($1.4M)
($308.0K)
Inventories
$1.6M
($1.9M)
($1.5M)
($2.0M)
Prepaid expenses and other current assets
($4.7M)
($4.3M)
$1.4M
($3.7M)
Other assets and liabilities
($5.8M)
($4.5M)
($972.0K)
($3.2M)
Accounts payable
$6.7M
$6.4M
$8.1M
$12.6M
Income and other taxes payable
($116.0K)
$58.0K
($2.4M)
($6.1M)
Accrued expenses and other current liabilities
($20.7M)
($27.4M)
($2.1M)
($9.3M)
Deferred revenue
($6.0M)
($3.2M)
($4.7M)
($3.8M)
Advertising fund assets and liabilities
($9.1M)
$5.6M
$2.1M
$8.5M
Net cash provided by operating activities
$35.8M
$7.2M
$106.2M
$66.8M
Purchases of property and equipment
($26.4M)
($13.5M)
($47.0M)
($30.3M)
Purchases of property and equipment related to damages from natural disasters
($1.2M)
($70.0K)
($5.1M)
($1.4M)
Insurance proceeds related to damages from natural disasters
$850.0K
$850.0K
$3.3M
$2.9M
Repayments of notes issued
$1.3M
$748.0K
$5.7M
$4.5M
Proceeds from dispositions and refranchising, net of cash transferred
$4.3M
—
$831.0K
$0
Proceeds from investments
$3.2M
$3.2M
$4.7M
$4.7M
Other
$0
$0
($68.0K)
$109.0K
Net cash used in investing activities
($17.9M)
($5.2M)
($37.6M)
($19.4M)
Net proceeds (repayments) of revolving credit facilities
$11.3M
$19.4M
($210.0M)
($212.9M)
Proceeds from term loan
$0
$0
$200.0M
$200.0M
Debt issuance costs
$0
$0
($3.2M)
($3.2M)
Proceeds from exercise of stock options
$0
—
$397.0K
$397.0K
Dividends paid to common stockholders
($30.9M)
($15.3M)
($45.8M)
($30.5M)
Tax payments for equity award issuances
($1.6M)
($1.4M)
($1.8M)
($1.2M)
Distributions to noncontrolling interests
($73.0K)
($73.0K)
($387.0K)
($339.0K)
Principal payments on finance leases
($5.1M)
($2.6M)
($7.5M)
($4.9M)
Other
$231.0K
$125.0K
$110.0K
($55.0K)
Net cash used in financing activities
($26.1M)
$181.0K
($68.2M)
($52.8M)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
($196.0K)
($157.0K)
$651.0K
$641.0K
Change in cash, cash equivalents, and restricted cash
($8.5M)
$2.1M
$1.0M
($4.7M)
Cash, cash equivalents, and restricted cash at beginning of period
$37.0M
$37.0M
$38.0M
$38.0M
Cash, cash equivalents, and restricted cash at end of period