Filing Flows › Papa Johns International (PZZA) › Q4 2025
Papa Johns International (PZZA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Papa Johns International (PZZA) reported revenue of $498M for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -2% from the quarter before. Operating margin was 4.9%, net earnings $7.1M (1.4% of revenue).
Papa Johns International, Q4 2025: revenue $498M (-6% year over year), operating margin 4.9%, net earnings $7.1M, operating cash flow $19.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $498M | -2% | -6% |
| Operating profit | $24.5M | +52% | -17% |
| Net earnings | $7.1M | +50% | -52% |
| Operating cash flow | $19.8M | -50% | -61% |
| Free cash flow | $2.1M | -91% | -92% |
What changed
Revenue was $498.2M in Q4 2025, down 6% year over year and down 2% from the previous quarter. Commissary revenues was the largest line at 48% of revenue.
Operating profit was $24.5M, a 4.9% margin (down 0.6 points year over year). Total costs fell 6% while revenue fell 6%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $7.1M, down 52% year over year. The effective tax rate was 39.9%.
Operating cash flow was $19.8M (down 61% year over year), 230% of net income including minority interests. Non-cash charges added back $30.2M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items used $21.8M. Capital expenditures of $17.7M left free cash flow of $2.1M.
Questions
What was Papa Johns International's revenue in the fourth quarter 2025?
Papa Johns International (PZZA) reported revenue of $498M for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -2% from the quarter before.
Was Papa Johns International profitable in the fourth quarter 2025?
Operating profit was $24.5M (4.9% of revenue) and net earnings $7.1M.