PAPA JOHNS INTERNATIONAL INC
PZZA · Retail-Eating Places · 32.9M shares · +1%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $192M (gross $210M, SBC $18M)
Grade
C58Asset-light pizza franchisor with steady FCF but sharply falling earnings amid a soft consumer and a costly restructuring.
Strengths
- Positive FCF ($61M, 64th pct) and decent ROA (3.6%, 63rd pct)
- Large global franchise base (6,083 units) with recurring royalties
Risks
- Net income down 63% (17th pct) and revenue declining; negative ROE (-6.9%, equity negative from buybacks)
- Enterprise Transformation Plan restructuring ($24-31M) and elevated North America store closures ahead
- Weak comparable demand and ongoing margin pressure
Notable findings
- Negative equityNegative book equity (debt/equity -1.60)
- Weak liquidityCurrent ratio 0.82 (<1)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
4.3%
Net margin
1.5%
Return on equity
-6.9%
Return on assets
3.6%
ROIC
26.5%
Revenue growth (QoQ)
-3.9%
Net-income growth
-63.4%
Debt / equity
-1.6×
Net debt / EBITDA
3.7×
Current ratio
0.8×
Free cash flow
$61M
EBITDA
$181M
Tangible book value
-$512M
Cash & investments
$35M
Stock comp / revenue
0.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-05 | Oyler Caroline Miller | Tax withheld | 251 | $31.92 |
| 2026-05-29 | Mangan Jocelyn C | Grant | 271 | $34.21 |
| 2026-05-29 | MILLER JOHN C | Grant | 159 | $34.21 |
| 2026-05-29 | KOELLNER LAURETTE T | Grant | 274 | $34.21 |
| 2026-05-29 | KOELLNER LAURETTE T | Grant | 55 | $34.21 |
| 2026-05-29 | Gibbs Stephen L | Grant | 156 | $34.21 |
| 2026-05-29 | Garratt John W | Grant | 156 | $34.21 |
| 2026-05-29 | Medina Sonya E | Grant | 274 | $34.21 |
| 2026-05-29 | Coleman Christopher L. | Grant | 378 | $34.21 |
| 2026-05-11 | KOELLNER LAURETTE T | Grant | 4.5K | — |
| 2026-05-11 | MILLER JOHN C | Grant | 4.5K | — |
| 2026-05-11 | Medina Sonya E | Grant | 4.5K | — |
| 2026-05-11 | Mangan Jocelyn C | Grant | 4.5K | — |
| 2026-05-11 | Gibbs Stephen L | Grant | 4.5K | — |
| 2026-05-11 | Garratt John W | Grant | 4.5K | — |
| 2026-05-11 | Coleman Christopher L. | Grant | 7.0K | — |
| 2026-03-25 | Oyler Caroline Miller | Tax withheld | 714 | $33.12 |
| 2026-03-25 | Thanawala Ravi | Tax withheld | 1.8K | $33.12 |
| 2026-03-04 | Oyler Caroline Miller | Tax withheld | 406 | $30.81 |
| 2026-03-04 | Thanawala Ravi | Tax withheld | 774 | $30.81 |
| 2026-03-03 | VASCONI JOHN KEVIN | Tax withheld | 923 | $31.99 |
| 2026-03-03 | Oyler Caroline Miller | Tax withheld | 708 | $31.99 |
| 2026-03-03 | Penegor Todd Allan | Tax withheld | 6.0K | $31.99 |
| 2026-03-03 | Thanawala Ravi | Tax withheld | 1.8K | $31.99 |
| 2026-03-02 | Collins Christopher K | Grant | 3.3K | — |
| 2026-03-02 | VASCONI JOHN KEVIN | Grant | 20K | — |
| 2026-03-02 | Thanawala Ravi | Grant | 39K | — |
| 2026-03-02 | Penegor Todd Allan | Grant | 100K | — |
| 2026-03-02 | Oyler Caroline Miller | Grant | 20K | — |
| 2026-03-02 | Collins Christopher K | Grant | 7.9K | — |
| 2026-02-27 | Oyler Caroline Miller | Tax withheld | 252 | $31.35 |
| 2026-02-20 | MILLER JOHN C | Grant | 106 | $31.59 |
| 2026-02-20 | Medina Sonya E | Grant | 230 | $31.59 |
| 2026-02-20 | Mangan Jocelyn C | Grant | 226 | $31.59 |
| 2026-02-20 | KOELLNER LAURETTE T | Grant | 230 | $31.59 |
| 2026-02-20 | KOELLNER LAURETTE T | Grant | 58 | $31.59 |
| 2026-02-20 | Gibbs Stephen L | Grant | 103 | $31.59 |
| 2026-02-20 | Garratt John W | Grant | 103 | $31.59 |
| 2026-02-20 | Coleman Christopher L. | Grant | 304 | $31.59 |
| 2025-11-28 | MILLER JOHN C | Grant | 78 | $42.07 |
| 2025-11-28 | Medina Sonya E | Grant | 169 | $42.07 |
| 2025-11-28 | Mangan Jocelyn C | Grant | 166 | $42.07 |
| 2025-11-28 | KOELLNER LAURETTE T | Grant | 169 | $42.07 |
| 2025-11-28 | KOELLNER LAURETTE T | Grant | 43 | $42.07 |
| 2025-11-28 | Gibbs Stephen L | Grant | 75 | $42.07 |
| 2025-11-28 | Garratt John W | Grant | 75 | $42.07 |
| 2025-11-28 | Coleman Christopher L. | Grant | 223 | $42.07 |
| 2025-11-06 | Sieve Joseph | Tax withheld | 31 | $42.82 |
| 2025-09-09 | VASCONI JOHN KEVIN | Tax withheld | 1.9K | $48.76 |
| 2025-09-09 | Thanawala Ravi | Tax withheld | 128 | $48.76 |
| 2025-09-09 | Sieve Joseph | Tax withheld | 48 | $48.76 |
| 2025-08-29 | Medina Sonya E | Grant | 145 | $48.71 |
| 2025-08-29 | Mangan Jocelyn C | Grant | 143 | $48.71 |
| 2025-08-29 | KOELLNER LAURETTE T | Grant | 145 | $48.71 |
| 2025-08-29 | MILLER JOHN C | Grant | 67 | $48.71 |
| 2025-08-29 | KOELLNER LAURETTE T | Grant | 37 | $48.71 |
| 2025-08-29 | Gibbs Stephen L | Grant | 65 | $48.71 |
| 2025-08-29 | Garratt John W | Grant | 65 | $48.71 |
| 2025-08-29 | Coleman Christopher L. | Grant | 192 | $48.71 |
| 2025-08-07 | Thanawala Ravi | Tax withheld | 2.3K | $44.00 |
| 2025-07-31 | Penegor Todd Allan | Tax withheld | 5.7K | $42.41 |
| 2025-06-05 | Oyler Caroline Miller | Grant | 2.4K | — |
| 2025-05-30 | MILLER JOHN C | Grant | 72 | $45.25 |
| 2025-05-30 | Medina Sonya E | Grant | 155 | $45.25 |
| 2025-05-30 | Mangan Jocelyn C | Grant | 153 | $45.25 |
| 2025-05-30 | KOELLNER LAURETTE T | Grant | 155 | $45.25 |
| 2025-05-30 | KOELLNER LAURETTE T | Grant | 40 | $45.25 |
| 2025-05-30 | Gibbs Stephen L | Grant | 69 | $45.25 |
| 2025-05-30 | Garratt John W | Grant | 69 | $45.25 |
| 2025-05-30 | Coleman Christopher L. | Grant | 205 | $45.25 |
| 2025-05-22 | Sieve Joseph | Tax withheld | 159 | $46.89 |
| 2025-05-12 | KOELLNER LAURETTE T | Grant | 3.3K | — |
| 2025-05-12 | MILLER JOHN C | Grant | 3.3K | — |
| 2025-05-12 | Medina Sonya E | Grant | 3.3K | — |
| 2025-05-12 | Mangan Jocelyn C | Grant | 3.3K | — |
| 2025-05-12 | Gibbs Stephen L | Grant | 3.3K | — |
| 2025-05-12 | Garratt John W | Grant | 3.3K | — |
| 2025-05-12 | Coleman Christopher L. | Grant | 5.4K | — |
| 2025-05-09 | Sieve Joseph | Tax withheld | 446 | $38.27 |
| 2025-03-04 | Oyler Caroline Miller | Tax withheld | 406 | $46.63 |
| 2025-03-04 | Thanawala Ravi | Tax withheld | 774 | $46.63 |
| 2025-03-04 | Sieve Joseph | Tax withheld | 387 | $46.63 |
| 2025-03-03 | Thanawala Ravi | Grant | 18K | — |
| 2025-03-03 | Sieve Joseph | Grant | 8.1K | — |
| 2025-03-03 | Oyler Caroline Miller | Grant | 6.7K | — |
| 2025-03-03 | VASCONI JOHN KEVIN | Grant | 9.0K | — |
| 2025-03-03 | Penegor Todd Allan | Grant | 59K | — |
| 2025-02-28 | Oyler Caroline Miller | Tax withheld | 168 | $45.35 |
| 2025-02-27 | Oyler Caroline Miller | Tax withheld | 252 | $46.89 |
| 2025-02-21 | MILLER JOHN C | Grant | 36 | $47.72 |
| 2025-02-21 | Medina Sonya E | Grant | 114 | $47.72 |
| 2025-02-21 | Mangan Jocelyn C | Grant | 112 | $47.72 |
| 2025-02-21 | KOELLNER LAURETTE T | Grant | 114 | $47.72 |
| 2025-02-21 | KOELLNER LAURETTE T | Grant | 37 | $47.72 |
| 2025-02-21 | Gibbs Stephen L | Grant | 34 | $47.72 |
| 2025-02-21 | Garratt John W | Grant | 34 | $47.72 |
| 2025-02-21 | Coleman Christopher L. | Grant | 141 | $47.72 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-07 | 2026-05-07 | 0001628280-26-031666 ↗ |
| 10-Q | 2026-05-07 | 2026-03-29 | 0001628280-26-031668 ↗ |
| 8-K | 2026-05-06 | 2026-04-30 | 0001628280-26-030804 ↗ |
| 10-K | 2026-02-26 | 2025-12-28 | 0001628280-26-011965 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001628280-26-011964 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001628280-26-004194 ↗ |
| 8-K | 2025-11-25 | 2025-11-25 | 0001628280-25-054044 ↗ |
| 8-K | 2025-11-18 | 2025-11-17 | 0001628280-25-052775 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001628280-25-049840 ↗ |
| 10-Q | 2025-11-06 | 2025-09-28 | 0001628280-25-049845 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001628280-25-038567 ↗ |
| 10-Q | 2025-08-07 | 2025-06-29 | 0001628280-25-038569 ↗ |