Filing Flows › Papa Johns International (PZZA) › Q3 2026 › vs Q3 2025
Papa Johns International (PZZA) Q3 2026 vs Q3 2025 (year over year)
Papa Johns International's revenue fell $53.3M (-10%) from $508M in Q3 2025 to $455M in Q3 2026. The biggest changes: Company-owned restaurant sales −$37.1M (-22%); Commissary revenues −$7.1M (-3%); Advertising funds revenue −$5.0M (-12%). Operating margin 3.1% against 3.2% (-0.1 pts).
Papa Johns International, Q3 2026: revenue $455M (-10% year over year), operating margin 3.1%, net earnings $3.3M, operating cash flow $22.7M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 3.1% | 3.2% | -0.1 pts |
| Net margin | 0.7% | 0.9% | -0.2 pts |
| Free cash flow margin | 2.1% | 4.5% | -2.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Commissary revenues | $222M | $230M | −$7.1M | -3% |
| Company-owned restaurant sales | $131M | $168M | −$37.1M | -22% |
| Franchise royalties and fees | $43.1M | $47.1M | −$3.9M | -8% |
| Advertising funds revenue | $36.7M | $41.7M | −$5.0M | -12% |
| Other revenues | $21.3M | $21.4M | −$102K | -0.5% |
| Revenue | $455M | $508M | −$53.3M | -10% |
| Operating profit | $14.2M | $16.2M | −$1.9M | -12% |
| Costs & expenses | $441M | $492M | −$51.4M | -10% |
| Pre-tax earnings | $4.8M | $6.2M | −$1.4M | -22% |
| Other expense, net | $9.4M | $9.9M | −$549K | -6% |
| Cost of revenue | $329M | $369M | −$40.5M | -11% |
| General & admin | $55.8M | $56.5M | −$638K | -1% |
| Other operating costs | $56.2M | $66.4M | −$10.2M | -15% |
| Net earnings | $3.3M | $4.5M | −$1.2M | -27% |
| Income tax | $1.6M | $1.8M | −$197K | -11% |
| Operating cash sources | $26.3M | $34.0M | −$7.7M | -23% |
| Depreciation & amortization | $19.2M | $24.9M | −$5.7M | -23% |
| Share-based compensation | $3.8M | $4.6M | −$842K | -18% |
| Working capital & other | $3.6M | −$5.3M | $9.0M | — |
| Operating cash flow | $22.7M | $39.3M | −$16.7M | -42% |
| Free cash flow (OCF − capex) | $9.7M | $22.7M | −$12.9M | -57% |
| Capital expenditures | $13.0M | $16.7M | −$3.7M | -22% |
Questions
How much did Papa Johns International's revenue grow year over year in Q3 2026?
Papa Johns International's revenue fell $53.3M (-10%) from $508M in Q3 2025 to $455M in Q3 2026.
What drove Papa Johns International's revenue change in Q3 2026?
Company-owned restaurant sales −$37.1M (-22%); Commissary revenues −$7.1M (-3%); Advertising funds revenue −$5.0M (-12%).