Papa Johns
Runs and franchises Papa Johns pizza restaurants, supported by North America commissaries.
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Profile
Sells pizza and related food through company-owned and franchised restaurants, while supplying North American stores through commissaries. Most restaurants are franchised, and the model also includes royalties, development rights, advertising funds, and digital support services.
Operates and franchises pizza delivery and carryout restaurants under the Papa Johns trademark, with company-owned stores, North America franchising, North America commissaries, and International as reportable segments. Revenue comes from restaurant sales, franchise royalties and rights, commissary supply, advertising funds, and technology-related support.
The brand centers on pizza and related food and beverage products, anchored by the Better Ingredients. Better Pizza. quality promise. Most restaurants are franchised, while company-owned locations remain part of the domestic base.
Geography is anchored in North America with international restaurants across many countries and territories. The business depends on franchisee execution, commissary supply economics, owned-channel demand, and competition from pizza chains, aggregators, delivery concepts, and prepared-meal retailers.
Company facts
Categories
Key statistics
Year to date −41.2% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | UBS | Reiterate | Neutral | $42 | $28 | |
| Aug 7, 2026 | Stephens | Downgrade | Overweight | Negative | $50 | $24 |
| Aug 7, 2026 | Benchmark | Downgrade | Buy | Hold | ||
| Aug 7, 2026 | Jefferies | Reiterate | Hold | $144 | $26 | |
| Aug 7, 2026 | Mizuho Securities | Target | $32 | $26 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.45 | $0.46 | +3.0% | $481.2M | $482.4M | +0.2% | −17.18% |
| May 7, 2026Q1 FY26 | $0.40 | $0.32 | −20.0% | $485.5M | $478.6M | −1.4% | −5.21% |
| Feb 26, 2026Q4 FY25 | $0.33 | $0.34 | +3.0% | $517.3M | $498.2M | −3.7% | +1.42% |
| Nov 6, 2025Q3 FY25 | $0.40 | $0.32 | −20.0% | $516.5M | $508.2M | −1.6% | −4.06% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $518.3M | $529.2M | $508.2M | $498.2M | $478.6M | $482.4M | |
| Gross profit | $151.8M | $157.5M | $97.6M | $77.0M | $137.7M | $143.4M | |
| Operating income | $24.0M | $24.5M | $16.2M | $17.4M | $24.1M | $23.2M | |
| Net income | $9.2M | $9.5M | $4.7M | $7.1M | $7.3M | $8.5M | |
| Diluted EPS | $0.27 | $0.28 | $0.13 | $0.21 | $0.21 | $0.24 | |
| Gross margin | 29.3% | 29.8% | 19.2% | 15.5% | 28.8% | 29.7% | |
| Operating margin | 4.6% | 4.6% | 3.2% | 3.5% | 5.0% | 4.8% |
Fiscal years (4-quarter sums)FY21 $2.07B · FY22 $2.10B · FY23 $2.14B · FY24 $2.06B · FY25 $2.05B
Revenue by product · Q2 FY26
Balance sheet, Jun 28, 2026Cash & short-term investments $28.5M · Total debt $935.5M · Total assets $805.0M · Shareholders' equity −$453.1M
Dividends
Raised for 11 straight years — most recently to $0.46 from $0.42 in Aug 2023. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| May 18, 2026 | May 18 | May 29 | $0.46 | |
| Feb 9, 2026 | Feb 9 | Feb 20 | $0.46 | |
| Nov 17, 2025 | Nov 17 | Nov 28 | $0.46 | |
| Aug 18, 2025 | Aug 18 | Aug 29 | $0.46 | |
| May 19, 2025 | May 19 | May 30 | $0.46 | |
| Feb 10, 2025 | Feb 10 | Feb 21 | $0.46 | |
| Nov 18, 2024 | Nov 18 | Nov 29 | $0.46 | |
| Aug 19, 2024 | Aug 19 | Aug 30 | $0.46 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 32.90M · Float 32.45M · 98.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 4.96M | 15.07% | 13F | Aug 7, 2026 |
| Earnest Partners LLC | 2.89M | 8.79% | 13F | Aug 13, 2026 |
| Brandes Investment Partners, LP | 2.73M | 8.30% | 13F | Aug 14, 2026 |
| Bank of America Corp /DE/ | 2.26M | 6.88% | 13F | Aug 14, 2026 |
| Susquehanna Securities, LLC | 2.06M | 6.30% | 13G | Nov 14, 2024 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Domino's Pizza
Closest public peer in pizza delivery, carryout, and digital ordering
- Yum! Brands
Pizza Hut parent and global QSR franchisor with direct pizza overlap
- DoorDash
Restaurant delivery marketplace competing for orders, traffic, and drivers
- Uber
Uber Eats marketplace pressures delivery economics and customer access
- McDonald's
Global QSR scale competitor for value, convenience, and delivery meals
- Chipotle Mexican Grill
Fast-casual digital meal competitor for quality and convenience occasions
- Restaurant Brands International
Burger King and Popeyes parent competing across QSR meals and delivery
- Wingstop
Delivery-heavy franchised QSR peer competing for group meals and sides
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Papa Johns | $23.90 | +0.80% | $780.4M | 30.0 | 20.6 | 0.4 | −8.8% |
| Domino's Pizza | $348.74 | −0.38% | $11.58B | 19.9 | 17.3 | 2.3 | +4.3% |
| Yum! Brands | $153.86 | 0.00% | $42.41B | 19.3 | 22.6 | 4.9 | +12.2% |
| DoorDash | $236.80 | +0.06% | $103.15B | 123.9 | 67.9 | 6.5 | +35.6% |
| Uber | $78.78 | −0.01% | $160.45B | 17.3 | 20.4 | 2.9 | +12.2% |
| McDonald's | $265.11 | +0.04% | $188.28B | 21.5 | 20.0 | 6.8 | +3.7% |
| Chipotle Mexican Grill | $38.00 | −0.08% | $48.78B | 34.9 | 30.0 | 3.9 | +9.3% |
| Restaurant Brands International | $78.50 | +0.29% | $27.15B | 23.1 | 18.5 | 2.8 | +4.6% |
| Wingstop | $113.85 | +0.18% | $3.09B | 27.0 | 23.8 | 4.3 | +6.4% |
| Median | 22.3 | 21.5 | 4.1 | +7.9% |