{ "ok": true, "cik": "901491", "ticker": "PZZA", "name": "PAPA JOHN’S INTERNATIONAL, INC.", "filings": [ { "form": "8-K", "filed": "2026-08-25", "items": [ "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/901491/000162828026058907/0001628280-26-058907-index.htm" }, { "form": "10-Q", "filed": "2026-08-06", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/901491/000162828026053823/0001628280-26-053823-index.htm" }, { "form": "8-K", "filed": "2026-08-06", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/901491/000162828026053810/0001628280-26-053810-index.htm" }, { "form": "8-K", "filed": "2026-06-30", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/901491/000162828026046242/0001628280-26-046242-index.htm" }, { "form": "10-Q", "filed": "2026-05-07", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/901491/000162828026031668/0001628280-26-031668-index.htm" }, { "form": "8-K", "filed": "2026-05-07", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/901491/000162828026031666/0001628280-26-031666-index.htm" } ], "events12m": 10, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-06-30", "url": "https://www.sec.gov/Archives/edgar/data/901491/000162828026046242/0001628280-26-046242-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000901491.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=901491" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up PAPA JOHN’S INTERNATIONAL, INC. ($PZZA). Last filing: 8-K (7.01 Regulation FD Disclosure), 2026-08-25. 10 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-28", "revenue": 2053808000, "revenueGrowth1y": -0.002709058569370426, "revenueGrowthPerYear": -0.0017684821436244613, "yearsOfData": 5, "operatingMargin": 0.043405712705374605, "operatingMarginPrior": 0.07609254598577149, "netMargin": 0.01563778113630875, "operatingCashFlow": 126000000, "capitalSpending": 64695000, "freeCashFlow": 61305000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 34591000, "longTermDebt": 722257000, "longTermDebtChange": -0.02614845277421962, "revenueHistory": [ { "fiscalYearEnd": "2021-12-26", "revenue": 2068421000 }, { "fiscalYearEnd": "2022-12-25", "revenue": 2102103000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 2135713000 }, { "fiscalYearEnd": "2024-12-29", "revenue": 2059387000 }, { "fiscalYearEnd": "2025-12-28", "revenue": 2053808000 } ], "totalEquity": -444750000, "totalAssets": 837508000, "equityRatio": -0.5310397035013397, "returnOnEquity": null, "dividendsPaid": 61141000, "payoutRatio": 1.9036958620045459, "dividendPerShare": 1.84, "dividendYearsRising": 0, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 0.9, "sharesOutstanding": 32945000, "bookValuePerShare": -13.499772347852481, "revenuePerShare": 62.34050690544847, "range80": { "low": 1829506957.8113482, "high": 2178104443.711412, "baseline": 2043100810.095378, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.024709692526395172, "classVolatility": 0.07701947805587882, "volatility": 0.0571951436083038 }, "ifPaceHeld": { "low": 1829506957.8113482, "high": 2178104443.711412 } }, "edgarette": "🔖 Exposure: revenue $2.1B (FY2025), total debt $722.3M. Experience: revenue down 0.3% on the year, down 0.2% a year over 4 years; operating margin 4.3%, down from 7.6%. Soundness: equity -53.1% of assets (liabilities exceed assets), payout 190.4% of profit. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $1.8B and $2.2B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $1.7B to $2.3B. A statistical range, not company guidance. Against peers (31 filers, $50M+ revenue, retail-eating places): operating margin 4.3% against a 4.3% median; growth -0.3% against 4.7%.", "peers": { "sic": 5812, "sicDescription": "Retail-Eating Places", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "5812", "growth": [ 0.0466, 33 ], "opMargin": [ 0.0434, 31 ], "equityRatio": [ 0.1419, 31 ], "returnOnEquity": [ 0.079, 20 ], "payoutRatio": [ 0.4122, 16 ] }, "summary": "Papa John’S International (PZZA) saw revenue fall 0.3% in FY2025 to $2.1 billion, operating margin 4.3%, in line with the 4.3% median for retail-eating places, equity -53.1% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
PAPA JOHN’S INTERNATIONAL, INC. against its own record and its peers
Operating marginPeer median 4.3%4.3%Revenue, on the yearPeer median 4.7%-0.3%Equity of assetsPeer median 14.2%-53.1%Payout of profitPeer median 41.2%190.4%Gold tick: the median of 16–31 peers with $50M+ revenue in retail-eating places
", "chartHorizon": "
Handed back now, or kept to compound · of each dollar of profit
120.0% paid outMore was paid out than was earned in the year.Handed back per share$1.84

Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 15, "hits": 13, "rate": 0.8666666666666667, "method": "v4", "byYear": { "2011": [ 1, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 0, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T22:12:07.367Z", "hash": "9b127107741a14ff", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Papa John’S International (PZZA) saw revenue fall 0.3% in FY2025 to $2.1 billion, operating margin 4.3%, in line with the 4.3% median for retail-eating places, equity -53.1% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-28", "revenue": 2053808000, "totalDebt": 722257000, "cash": 34591000 }, "experience": { "revenueGrowth1y": -0.002709058569370426, "revenueGrowthPerYear": -0.0017684821436244613, "operatingMargin": 0.043405712705374605, "operatingMarginPrior": 0.07609254598577149, "netMargin": 0.01563778113630875, "freeCashFlow": 61305000 }, "soundness": { "equityRatio": -0.5310397035013397, "returnOnEquity": null, "payoutRatio": 1.9036958620045459, "dividendPerShare": 1.84, "dividendYearsRising": 0, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 5812, "sicDescription": "Retail-Eating Places", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "5812", "growth": [ 0.0466, 33 ], "opMargin": [ 0.0434, 31 ], "equityRatio": [ 0.1419, 31 ], "returnOnEquity": [ 0.079, 20 ], "payoutRatio": [ 0.4122, 16 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-06-30", "url": "https://www.sec.gov/Archives/edgar/data/901491/000162828026046242/0001628280-26-046242-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 1829506957.8113482, "high": 2178104443.711412, "baseline": 2043100810.095378, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.024709692526395172, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.0571951436083038, "k": 3 }, "stress": { "low": 1716609442.7923188, "high": 2321496225.081403, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 15, "hits": 13, "rate": 0.8666666666666667, "method": "v4", "byYear": { "2011": [ 1, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 0, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T22:12:07.367Z", "hash": "9b127107741a14ff", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000901491.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=901491" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0613, "growth3y": -0.0077, "volatility": 0.0247, "paysDividend": true, "raisedDividend": true, "equityRatio": -0.531, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "steady", "inside": "Turns 6.1% of revenue into operating cash; revenue shrinking 0.8% a year over three years; pays and raised its dividend; liabilities exceed assets.", "outside": "Among $1B-10B companies: 22nd percentile for cash, 26th for growth.", "emoji": "🐂", "label": "Steady earner", "plain": "steady and paying a dividend, with average cash" }, "band": "$1B-10B", "cashPctInClass": 22, "growthPctInClass": 26, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "balance", "text": "liabilities exceed assets (often from years of share buybacks, not always distress)" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-28", "operating": 126000000, "investing": -21486000, "financing": -106257000, "capitalSpending": 64695000, "free": 61305000, "trend": [ { "fiscalYearEnd": "2021-12-26", "operating": 184675000, "free": 116116000 }, { "fiscalYearEnd": "2022-12-25", "operating": 117808000, "free": 39417000 }, { "fiscalYearEnd": "2023-12-31", "operating": 193055000, "free": 116435000 }, { "fiscalYearEnd": "2024-12-29", "operating": 106632000, "free": 34148000 }, { "fiscalYearEnd": "2025-12-28", "operating": 126000000, "free": 61305000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-28", "cash": 34591000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 837508000, "ladder": null, "currentRatio": 0.82, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0613, "growth3y": -0.0077, "volatility": 0.0247, "paysDividend": true, "raisedDividend": true, "equityRatio": -0.531, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "steady", "inside": "Turns 6.1% of revenue into operating cash; revenue shrinking 0.8% a year over three years; pays and raised its dividend; liabilities exceed assets.", "outside": "Among $1B-10B companies: 22nd percentile for cash, 26th for growth.", "emoji": "🐂", "label": "Steady earner", "plain": "steady and paying a dividend, with average cash" }, "band": "$1B-10B", "cashPctInClass": 22, "growthPctInClass": 26, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "balance", "text": "liabilities exceed assets (often from years of share buybacks, not always distress)" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-28", "operating": 126000000, "investing": -21486000, "financing": -106257000, "capitalSpending": 64695000, "free": 61305000, "trend": [ { "fiscalYearEnd": "2021-12-26", "operating": 184675000, "free": 116116000 }, { "fiscalYearEnd": "2022-12-25", "operating": 117808000, "free": 39417000 }, { "fiscalYearEnd": "2023-12-31", "operating": 193055000, "free": 116435000 }, { "fiscalYearEnd": "2024-12-29", "operating": 106632000, "free": 34148000 }, { "fiscalYearEnd": "2025-12-28", "operating": 126000000, "free": 61305000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-28", "cash": 34591000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 837508000, "ladder": null, "currentRatio": 0.82, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }