Papa John's International, Inc. (PZZA) Key Metrics
PZZA valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $638.4M
- Enterprise value
- $1.58B
- P/E (TTM)
- 24.2 10-yr median 40.4
- Forward P/E
- 18.7
- PEG ratio
- 2.34
- Price / sales
- 0.3 10-yr median 1.2
- Price / book
- 284.2
- EV / EBITDA
- 8.9 10-yr median 20.3
- Dividend yield
- 9.49% $1.84 a year
- Beta
- 1.12
PZZA key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPZZA valuation Price multiples at each fiscal year-end price.
PZZA returns How much profit the business earns on the capital it uses.
PZZA per-share figures Results divided by the shares outstanding at year-end.
PZZA financial health Debt, liquidity and how easily interest is covered.
PZZA efficiency & capital use Working capital cycle and where the cash goes.
PZZA valuation history
PZZA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PZZA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PZZA cash returned to shareholders
PZZA price vs earnings per share
PZZA key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.27B | $1.35B | $2.53B | $2.94B | $4.72B | $2.78B | $2.00B | $1.29B | $2.05B | $3.22B |
| Enterprise value | $2.32B | $2.28B | $3.45B | $3.70B | $5.33B | $3.16B | $2.49B | $1.89B | $2.49B | $3.58B |
| P/E ratio | 41.5 | 16.1 | 30.8 | 43.4 | 39.3 | 47.9 | 410.5 | 781.2 | 19.8 | 31.1 |
| Price / sales | 0.6 | 0.7 | 1.2 | 1.4 | 2.3 | 1.5 | 1.2 | 0.8 | 1.1 | 1.9 |
| Price / book | — | — | — | — | — | — | — | — | — | 328.4 |
| Price / free cash flow | 20.7 | 39.5 | 21.7 | 74.6 | 40.6 | 18.4 | 83.1 | 41.8 | 24.9 | 36.4 |
| Price / operating cash flow | 10.1 | 12.6 | 13.1 | 25.0 | 25.5 | 14.9 | 32.3 | 17.7 | 15.2 | 22.3 |
| EV / sales | 1.1 | 1.1 | 1.6 | 1.8 | 2.6 | 1.7 | 1.5 | 1.2 | 1.4 | 2.1 |
| EV / EBITDA | 12.8 | 10.1 | 16.3 | 23.0 | 24.3 | 22.2 | 34.2 | 24.5 | 12.7 | 18.3 |
| EV / free cash flow | 37.9 | 66.8 | 29.7 | 93.9 | 45.9 | 21.0 | 103.8 | 61.3 | 30.3 | 40.4 |
| Earnings yield | 2.4% | 6.2% | 3.2% | 2.3% | 2.5% | 2.1% | 0.2% | 0.1% | 5.1% | 3.2% |
| Free cash flow yield | 4.8% | 2.5% | 4.6% | 1.3% | 2.5% | 5.4% | 1.2% | 2.4% | 4.0% | 2.7% |
| Dividend yield | 4.8% | 4.5% | 2.3% | 1.9% | 1.0% | 1.5% | 1.9% | 2.3% | 1.5% | 0.9% |
| Shareholder yield (dividends + buybacks) | 4.8% | 4.6% | 10.6% | 6.1% | 6.5% | 1.6% | 14.6% | 14.5% | 11.7% | 4.7% |
| Share price at fiscal year-end | $38.49 | $41.07 | $76.23 | $82.31 | $133.47 | $84.85 | $63.15 | $39.81 | $56.11 | $85.58 |
| Per share | ||||||||||
| Revenue per share | $62.34 | $62.75 | $64.41 | $58.85 | $58.53 | $55.42 | $51.19 | $48.71 | $48.83 | $45.57 |
| Earnings per share | $0.93 | $2.54 | $2.48 | $1.90 | $3.40 | $1.77 | $0.15 | $0.05 | $2.84 | $2.75 |
| Operating cash flow per share | $3.82 | $3.25 | $5.82 | $3.30 | $5.23 | $5.70 | $1.95 | $2.25 | $3.70 | $3.83 |
| Free cash flow per share | $1.86 | $1.04 | $3.51 | $1.10 | $3.29 | $4.61 | $0.76 | $0.95 | $2.26 | $2.35 |
| Cash per share | $1.12 | $1.16 | $1.22 | $1.33 | $2.00 | $3.98 | $0.88 | $0.60 | $0.61 | $0.41 |
| Book value per share | −$13.50 | −$13.09 | −$13.85 | −$8.02 | −$5.31 | −$8.62 | −$10.51 | −$9.35 | −$2.90 | $0.26 |
| Tangible book value per share | −$15.55 | −$15.39 | −$16.14 | −$10.00 | −$7.59 | −$11.09 | −$13.05 | −$11.97 | −$7.71 | −$4.35 |
| Dividends per share | $1.86 | $1.85 | $1.76 | $1.53 | $1.32 | $1.31 | $1.22 | $0.90 | $0.84 | $0.74 |
| Capex per share | $1.96 | $2.21 | $2.31 | $2.19 | $1.94 | $1.09 | $1.19 | $1.30 | $1.44 | $1.48 |
| Debt per share | $33.17 | $29.59 | $29.12 | $22.60 | $19.40 | $15.70 | $16.60 | $19.23 | $12.77 | $9.94 |
| Shares outstanding | 32.9M | 32.8M | 33.2M | 35.7M | 35.3M | 32.7M | 31.6M | 32.3M | 36.5M | 37.6M |
| Change in shares outstanding | +0.4% | −1.0% | −7.2% | +1.1% | +8.0% | +3.4% | −2.1% | −11.6% | −2.9% | −6.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | — | — | — | — | — | — | — | 397.6% |
| Return on invested capital (ROIC) | 10.6% | 23.8% | 25.0% | 20.0% | 52.7% | 54.5% | 10.6% | 5.2% | 32.5% | 31.3% |
| Return on assets (ROA) | 3.4% | 9.5% | 9.4% | 7.7% | 13.7% | 7.2% | 0.7% | 0.3% | 19.4% | 20.5% |
| Return on tangible assets | 3.6% | 10.3% | 10.3% | 8.5% | 14.9% | 7.3% | 0.7% | 0.3% | 27.3% | 30.5% |
| Free cash flow margin | 3.0% | 1.7% | 5.5% | 1.9% | 5.6% | 8.3% | 1.5% | 2.0% | 4.6% | 5.2% |
| Income quality (OCF / net income) | 4.13 | 1.28 | 2.35 | 1.74 | 1.54 | 3.22 | 12.69 | 44.23 | 1.30 | 1.39 |
| Financial health | ||||||||||
| Total debt | $1.09B | $971.1M | $965.7M | $807.3M | $685.5M | $513.6M | $525.2M | $621.1M | $466.6M | $373.9M |
| Cash & short-term investments | $37.0M | $38.0M | $40.6M | $47.4M | $70.6M | $130.2M | $27.9M | $19.5M | $22.3M | $15.6M |
| Net debt | $1.06B | $933.2M | $925.1M | $759.9M | $614.9M | $383.4M | $497.3M | $601.7M | $444.2M | $358.4M |
| Debt / equity | — | — | — | — | — | — | — | — | — | 38.15 |
| Debt / assets | 1.18 | 1.09 | 1.10 | 0.93 | 0.77 | 0.59 | 0.72 | 1.09 | 0.84 | 0.73 |
| Net debt / EBITDA | 5.82 | 4.13 | 4.38 | 4.72 | 2.81 | 2.70 | 6.82 | 7.81 | 2.26 | 1.84 |
| Current ratio | 0.82 | 0.83 | 0.76 | 0.95 | 0.89 | 1.06 | 0.87 | 1.04 | 1.28 | 1.14 |
| Quick ratio | 0.70 | 0.70 | 0.64 | 0.79 | 0.77 | 0.96 | 0.74 | 0.88 | 1.05 | 0.94 |
| Interest coverage | 2.2 | 3.7 | 3.4 | 4.3 | 8.8 | 5.3 | 1.2 | 1.2 | 13.4 | 24.9 |
| Working capital | −$53.6M | −$47.4M | −$73.6M | −$14.1M | −$32.4M | $17.5M | −$26.4M | $7.1M | $37.1M | $17.5M |
| Invested capital | $611.1M | $503.6M | $466.0M | $473.5M | $427.2M | $101.2M | $165.0M | $299.5M | $338.3M | $368.2M |
| Tangible asset value | −$500.3M | −$488.8M | −$519.0M | −$340.1M | −$247.6M | −$341.3M | −$397.0M | −$386.6M | −$281.5M | −$163.7M |
| Net current asset value | −$1.12B | −$1.07B | −$1.09B | −$882.6M | −$797.7M | −$826.8M | −$865.8M | −$701.4M | −$491.5M | −$357.2M |
| Graham number | — | — | — | — | — | — | — | — | — | $4.01 |
| Graham net-net per share | −$37.06 | −$35.50 | −$35.44 | −$27.35 | −$25.11 | −$27.84 | −$29.84 | −$23.69 | −$15.58 | −$11.31 |
| Capital allocation | ||||||||||
| Dividends paid | $61.1M | $60.6M | $58.5M | $54.8M | $46.8M | $43.0M | $38.6M | $29.0M | $30.7M | $27.9M |
| Share buybacks (net) | $0 | $2.1M | $210.3M | $125.0M | $261.1M | $2.7M | $252.5M | $158.0M | $209.6M | $122.4M |
| Dividend payout ratio | 200.3% | 72.5% | 71.2% | 80.8% | 39.0% | 74.2% | 792.7% | — | 29.6% | 27.0% |
| Dividends + buybacks / free cash flow | 99.7% | 183.4% | 230.9% | 456.1% | 265.2% | 30.3% | — | 607.9% | 291.7% | 169.8% |
| Capex / revenue | 3.2% | 3.5% | 3.6% | 3.7% | 3.3% | 2.0% | 2.3% | 2.7% | 2.9% | 3.2% |
| Capex / operating cash flow | 51.3% | 68.0% | 39.7% | 66.5% | 37.1% | 19.1% | 61.1% | 57.7% | 39.0% | 38.6% |
| Capex / depreciation | 0.70 | 1.04 | 1.20 | 1.51 | 1.40 | 0.72 | 0.80 | 0.91 | 1.20 | 1.36 |
| Stock-based compensation / revenue | 0.7% | 0.5% | 0.8% | 0.9% | 0.8% | 0.9% | 0.9% | 0.6% | 0.6% | 0.6% |
| SG&A / revenue | 11.9% | 9.3% | 9.5% | 10.2% | 10.3% | 10.9% | 13.8% | 12.2% | 8.9% | 9.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 19.7 | 19.6 | 19.7 | 19.2 | 18.2 | 18.6 | 20.5 | 20.0 | 14.2 | 14.6 |
| Days of inventory on hand | 8.7 | 8.8 | 8.2 | 8.1 | 7.3 | 7.2 | 7.5 | 8.7 | 7.1 | 6.3 |
| Days payables outstanding | 15.4 | 16.9 | 14.6 | 9.6 | 7.3 | 8.3 | 7.7 | 8.8 | 9.5 | 11.6 |
| Cash conversion cycle (days) | 13.0 | 11.5 | 13.3 | 17.7 | 18.1 | 17.5 | 20.3 | 19.8 | 11.7 | 9.3 |
| Receivables turnover | 18.55 | 18.65 | 18.56 | 19.00 | 20.10 | 19.60 | 17.79 | 18.23 | 25.78 | 25.04 |
| Payables turnover | 23.74 | 21.62 | 25.01 | 37.91 | 50.08 | 44.17 | 47.25 | 41.27 | 38.25 | 31.43 |
| Inventory turnover | 41.98 | 41.43 | 44.29 | 44.88 | 50.24 | 50.84 | 48.55 | 42.19 | 51.26 | 58.01 |
| Asset turnover | 2.26 | 2.33 | 2.46 | 2.40 | 2.35 | 2.26 | 2.49 | 2.79 | 3.34 | 3.40 |
| Average receivables | $110.7M | $110.4M | $115.1M | $110.6M | $102.9M | $92.5M | $91.0M | $86.3M | $69.2M | $68.4M |
| Average payables | $61.5M | $68.4M | $68.6M | $45.2M | $32.7M | $33.3M | $28.1M | $29.6M | $37.4M | $43.1M |
| Average inventory | $34.8M | $35.7M | $38.8M | $38.2M | $32.6M | $28.9M | $27.4M | $28.9M | $27.9M | $23.3M |
| Intangibles / total assets | 7.3% | 8.5% | 8.7% | 8.2% | 9.1% | 9.3% | 11.0% | 14.8% | 31.6% | 33.8% |
Computed from PZZA's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PZZA valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Papa John's International traded at 41.5 times earnings, against a 10-year median of 40.4. Based on the latest twelve months, the trailing P/E is 24.2 and the forward P/E is 18.7. Papa John's International earned a return on invested capital of 10.6% in fiscal 2025. It ended the year with $1.1 billion of debt and $37.0 million in cash and short-term investments, net debt of $1.1 billion. It returned $61.1 million to shareholders: $61.1 million in dividends and $0 in share buybacks, 100% of free cash flow. The share count fell 12.4% from 37.6M to 32.9M over 9 years.
See the PZZA income statement, the PZZA chart for price history, or the PZZA stock overview for the latest quote and news.
PZZA key metrics FAQ
What is Papa John's International's P/E ratio?
Papa John's International's trailing P/E ratio is 24.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.7. At the end of fiscal 2025 it was 41.5, compared with a 10-year median of 40.4.
What is Papa John's International's EV/EBITDA?
Papa John's International's enterprise value was 12.8 times EBITDA at the end of fiscal 2025 (enterprise value $2.3 billion, EBITDA $181.4 million); the current EV/EBITDA is 8.9.
What is Papa John's International's ROIC?
Papa John's International's return on invested capital was 10.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Papa John's International have?
Papa John's International had total debt of $1.1 billion at the end of fiscal 2025 and $1.1 billion of net debt (5.82 times EBITDA).
What is Papa John's International's dividend yield?
Papa John's International's forward dividend yield is 9.49%. Papa John's International paid $61.1 million in dividends in fiscal 2025 ($1.86 per share), a payout ratio of 200.3%.
What is Papa John's International's free cash flow yield?
Papa John's International generated $61.3 million of free cash flow in fiscal 2025, a free cash flow yield of 4.8% on its market value at year-end ($1.3 billion).
What is Papa John's International's current ratio?
Papa John's International's current ratio was 0.82 at the end of fiscal 2025: current assets were 0.82 times current liabilities.