Filing Flows › Papa Johns International (PZZA) › Q2 2026 › vs Q2 2025
Papa Johns International (PZZA) Q2 2026 vs Q2 2025 (year over year)
Papa Johns International's revenue fell $46.8M (-9%) from $529M in Q2 2025 to $482M in Q2 2026. The biggest changes: Company-owned restaurant sales −$36.8M (-21%); Commissary revenues −$3.8M (-2%); Advertising funds revenue −$2.8M (-6%). Operating margin 4.8% against 4.6% (+0.2 pts).
Papa Johns International, Q2 2026: revenue $482M (-9% year over year), operating margin 4.8%, net earnings $8.7M, operating cash flow $28.6M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 4.8% | 4.6% | +0.2 pts |
| Net margin | 1.8% | 1.8% | -0.0 pts |
| Free cash flow margin | 3.3% | 3.3% | -0.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Commissary revenues | $231M | $235M | −$3.8M | -2% |
| Company-owned restaurant sales | $142M | $179M | −$36.8M | -21% |
| Franchise royalties and fees | $46.6M | $48.3M | −$1.7M | -4% |
| Advertising funds revenue | $41.4M | $44.2M | −$2.8M | -6% |
| Other revenues | $21.5M | $23.1M | −$1.7M | -7% |
| Revenue | $482M | $529M | −$46.8M | -9% |
| Operating profit | $23.2M | $24.5M | −$1.3M | -5% |
| Costs & expenses | $459M | $505M | −$45.5M | -9% |
| Pre-tax earnings | $13.7M | $13.9M | −$235K | -2% |
| Other expense, net | $9.5M | $10.6M | −$1.1M | -10% |
| Cost of revenue | $339M | $372M | −$32.7M | -9% |
| General & admin | $59.0M | $70.1M | −$11.2M | -16% |
| Other operating costs | $61.2M | $62.8M | −$1.6M | -3% |
| Net earnings | $8.7M | $9.7M | −$971K | -10% |
| Income tax | $5.0M | $4.2M | $736K | +17% |
| Depreciation & amortization | $19.2M | $18.8M | $429K | +2% |
| Share-based compensation | $3.1M | $3.8M | −$767K | -20% |
| Working capital & other | $2.4M | −$3.2M | $5.6M | — |
| Operating cash flow | $28.6M | $35.5M | −$6.9M | -19% |
| Free cash flow (OCF − capex) | $15.7M | $17.4M | −$1.7M | -10% |
| Capital expenditures | $12.9M | $18.1M | −$5.2M | -29% |
Questions
How much did Papa Johns International's revenue grow year over year in Q2 2026?
Papa Johns International's revenue fell $46.8M (-9%) from $529M in Q2 2025 to $482M in Q2 2026.
What drove Papa Johns International's revenue change in Q2 2026?
Company-owned restaurant sales −$36.8M (-21%); Commissary revenues −$3.8M (-2%); Advertising funds revenue −$2.8M (-6%).