Papa John's International, Inc. (PZZA) Financial Ratios
30 years of historical data (1996–2025) · Consumer Cyclical · Restaurants
EV/EBITDA
↓
11.78
↓-32% vs avg
5yr avg: 17.34
30Y Low5.6·High34.7
P/FCF
↓
17.62
↓-55% vs avg
5yr avg: 39.20
30Y Low7.4·High184.2
P/B Ratio
N/A
—
5yr avg: N/A
30Y Low2.8·High136.9
ROE
N/A
—
5yr avg: N/A
30Y Low13%·High263%
Debt/EBITDA
↑
6.02
↑+31% vs avg
5yr avg: 4.61
30Y Low0.0·High8.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PZZA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Papa John's International, Inc. trades at 36.5x earnings, 6% above its 5-year average of 34.6x, sitting at the 75th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.4x, the stock trades at a premium of 88%. On a free-cash-flow basis, the stock trades at 17.6x P/FCF, 55% below the 5-year average of 39.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $1.3B | $1.3B | $2.5B | $2.9B | $4.7B | $2.8B | $2.0B | $1.3B | $2.0B | $3.2B |
| Enterprise Value | $2.1B | $2.4B | $2.2B | $3.5B | $3.7B | $5.3B | $3.2B | $2.5B | $1.9B | $2.5B | $3.5B |
| P/E Ratio → | 36.50 | 43.67 | 15.56 | 30.74 | 43.55 | 39.26 | 47.94 | 421.00 | 780.59 | 19.83 | 31.23 |
| P/S Ratio | 0.53 | 0.63 | 0.63 | 1.18 | 1.40 | 2.28 | 1.53 | 1.23 | 0.82 | 1.15 | 1.88 |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | 136.88 |
| P/FCF | 17.62 | 21.12 | 37.97 | 21.71 | 74.58 | 40.62 | 18.41 | 83.10 | 41.79 | 24.87 | 36.37 |
| P/OCF | 8.58 | 10.28 | 12.16 | 13.09 | 24.95 | 25.54 | 14.89 | 32.35 | 17.66 | 15.18 | 22.34 |
P/E links to full P/E history page with 30-year chart
PZZA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Papa John's International, Inc.'s enterprise value stands at 11.8x EBITDA, 32% below its 5-year average of 17.3x. This is roughly in line with the Consumer Cyclical sector median of 11.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.14 | 1.08 | 1.62 | 1.76 | 2.58 | 1.74 | 1.54 | 1.20 | 1.40 | 2.04 |
| EV / EBITDA | 11.78 | 12.96 | 9.86 | 16.35 | 22.97 | 24.56 | 22.57 | 34.74 | 24.58 | 12.81 | 17.04 |
| EV / EBIT | 23.96 | 26.37 | 14.23 | 23.47 | 33.93 | 31.69 | 34.20 | 97.31 | 58.31 | 16.44 | 21.07 |
| EV / FCF | — | 38.34 | 65.30 | 29.65 | 93.86 | 45.91 | 20.95 | 103.79 | 61.35 | 30.27 | 39.58 |
PZZA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Papa John's International, Inc. earns an operating margin of 4.3%, roughly in line with the Consumer Cyclical sector average. Operating margins have compressed from 6.9% to 4.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROIC of 11.7% represents solid returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.9% | 28.9% | 28.2% | 19.6% | 18.5% | 20.8% | 19.0% | 17.9% | 22.5% | 19.9% | 21.0% |
| Operating Margin | 4.3% | 4.3% | 7.6% | 6.9% | 5.2% | 8.1% | 5.0% | 1.5% | 1.9% | 8.5% | 9.6% |
| Net Profit Margin | 1.5% | 1.5% | 4.1% | 3.8% | 3.2% | 5.8% | 3.2% | 0.3% | 0.1% | 5.8% | 6.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | — | — | 262.6% |
| ROA | 3.4% | 3.4% | 9.5% | 9.4% | 7.7% | 13.7% | 7.2% | 0.7% | 0.3% | 19.4% | 20.5% |
| ROIC | 11.7% | 11.7% | 23.5% | 22.7% | 17.4% | 44.2% | 44.6% | 7.4% | 6.8% | 34.2% | 41.3% |
| ROCE | 14.3% | 14.3% | 26.5% | 25.2% | 18.2% | 28.5% | 16.3% | 5.3% | 7.3% | 37.4% | 44.1% |
PZZA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Papa John's International, Inc. carries a Debt/EBITDA ratio of 6.0x, which is highly leveraged (37% above the sector average of 4.4x). Net debt stands at $1.1B ($1.1B total debt minus $37M cash). Interest coverage of just 2.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | 12.75 |
| Debt / EBITDA | 6.02 | 6.02 | 4.29 | 4.57 | 5.01 | 3.16 | 3.67 | 7.31 | 8.09 | 2.40 | 1.46 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | — | — | 12.09 |
| Net Debt / EBITDA | 5.82 | 5.82 | 4.13 | 4.38 | 4.72 | 2.83 | 2.74 | 6.92 | 7.84 | 2.28 | 1.38 |
| Debt / FCF | — | 17.22 | 27.33 | 7.95 | 19.28 | 5.30 | 2.54 | 20.69 | 19.56 | 5.39 | 3.21 |
| Interest Coverage | 2.19 | 2.19 | 3.68 | 3.38 | 4.32 | 8.76 | 5.43 | 1.25 | 1.26 | 13.44 | 25.14 |
PZZA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.82x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.76x to 0.82x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.82 | 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 | 0.70 | 0.64 | 0.79 | 0.77 | 0.96 | 0.74 | 0.88 | 1.05 | 0.94 |
| Cash Ratio | 0.13 | 0.13 | 0.14 | 0.13 | 0.18 | 0.25 | 0.45 | 0.13 | 0.12 | 0.17 | 0.12 |
| Asset Turnover | — | 2.22 | 2.32 | 2.44 | 2.43 | 2.34 | 2.08 | 2.22 | 2.76 | 3.21 | 3.34 |
| Inventory Turnover | 42.54 | 42.54 | 41.95 | 47.51 | 41.41 | 46.86 | 48.54 | 48.27 | 44.84 | 46.66 | 53.90 |
| Days Sales Outstanding | — | 20.02 | 19.29 | 19.14 | 20.52 | 18.19 | 20.68 | 18.55 | 23.14 | 14.92 | 13.95 |
PZZA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Papa John's International, Inc. returns 5.6% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 200.3%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 2.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.6% | 4.7% | 4.7% | 2.3% | 1.9% | 0.9% | 1.1% | 1.4% | 2.3% | 1.5% | 0.9% |
| Payout Ratio | 200.3% | 200.3% | 72.5% | 71.2% | 80.8% | 33.6% | 50.7% | 586.8% | 1760.9% | 29.6% | 27.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.7% | 2.3% | 6.4% | 3.3% | 2.3% | 2.5% | 2.1% | 0.2% | 0.1% | 5.0% | 3.2% |
| FCF Yield | 5.7% | 4.7% | 2.6% | 4.6% | 1.3% | 2.5% | 5.4% | 1.2% | 2.4% | 4.0% | 2.7% |
| Buyback Yield | 0.0% | 0.0% | 0.2% | 8.3% | 4.3% | 1.5% | 0.1% | 0.0% | 12.3% | 10.2% | 3.8% |
| Total Shareholder Yield | 5.6% | 4.7% | 4.8% | 10.6% | 6.1% | 2.4% | 1.2% | 1.4% | 14.5% | 11.7% | 4.7% |
| Shares Outstanding | — | $33M | $33M | $33M | $36M | $35M | $33M | $32M | $32M | $37M | $38M |
Peer Comparison
Compare PZZA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PZZAYou | $1B | 36.5 | 11.8 | 17.6 | 28.9% | 4.3% | — | 11.7% | 6.0 |
 DPZ | $11B | 18.9 | 15.3 | 16.7 | 40.0% | 19.3% | — | 73.5% | 5.0 |
 YUM | $43B | 28.3 | 20.0 | 26.5 | 46.2% | 30.8% | — | 48.1% | 4.4 |
 QSR | $27B | 33.7 | 17.8 | 18.9 | 41.1% | 23.7% | 15.5% | 8.2% | 7.1 |
 MCD | $202B | 23.7 | 17.6 | 28.1 | 57.4% | 46.1% | — | 18.7% | 3.8 |
 JACK | $266M | -3.3 | 82.9 | 3.6 | 28.7% | -1.2% | — | -0.6% | 77.6 |
 DENN | $322M | 15.2 | 12.1 | 350.6 | 73.4% | 10.0% | — | 9.7% | 6.8 |
 SBUX | $119B | 64.0 | 27.0 | 48.7 | 24.2% | 9.6% | — | 17.7% | 5.1 |
 CMG | $43B | 29.2 | 22.3 | 29.9 | 25.4% | 16.9% | 47.4% | 15.3% | 4.1 |
 WEN | $1B | 7.3 | 9.4 | 5.1 | 35.2% | 16.5% | 68.3% | 7.1% | 7.7 |
 SHAK | $3B | 63.5 | 17.3 | 49.3 | 18.0% | 5.9% | 8.7% | 6.0% | 4.7 |
| Consumer Cyclical Median | — | 19.4 | 11.4 | 15.3 | 36.8% | 2.9% | 5.7% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonPZZA — Frequently Asked Questions
Quick answers to the most common questions about buying PZZA stock.
What is Papa John's International, Inc.'s P/E ratio?
Papa John's International, Inc.'s current P/E ratio is 36.5x. The historical average is 26.3x. This places it at the 75th percentile of its historical range.
What is Papa John's International, Inc.'s EV/EBITDA?
Papa John's International, Inc.'s current EV/EBITDA is 11.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.7x.
Is PZZA stock overvalued?
Based on historical data, Papa John's International, Inc. is trading at a P/E of 36.5x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Papa John's International, Inc.'s dividend yield?
Papa John's International, Inc.'s current dividend yield is 5.65% with a payout ratio of 200.3%.
What are Papa John's International, Inc.'s profit margins?
Papa John's International, Inc. has 28.9% gross margin and 4.3% operating margin.
How much debt does Papa John's International, Inc. have?
Papa John's International, Inc.'s Debt/EBITDA ratio is 6.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.