Papa John's International (PZZA) FY2018 results: revenue $1.7 billion, down 6.8% on the year
Papa John's International, Inc. (PZZA) reported revenue of $1.7 billion for fiscal 2018, the year ended 30 December 2018, down 6.8% on the year before. Net income was $2 million, down 97.6%, and diluted earnings per share $0.08. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2019.
Revenue
$1.7 billion
-6.8% on the year
FY2011FY2018
Operating margin
1.9%
8.5% a year earlier
FY2011FY2018
Net income
$2 million
-97.6% on the year
FY2011FY2018
Diluted EPS
$0.08
-97.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,663
1,783
1,714
-6.8%
Operating income
31.6
151
165
-79.1%
Operating margin
1.9%
8.5%
9.6%
Interest expense
25.7
11.3
7.4
+127.5%
Pre-tax income
6.7
140
159
-95.2%
Income tax
2.6
33.8
49.7
-92.2%
Effective tax rate
39.2%
24.1%
31.3%
Net income
2.5
102
103
-97.6%
Net margin
0.1%
5.7%
6.0%
Diluted EPS
$0.08
$2.83
$2.74
-97.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
92.5
135
150
-31.5%
Capital expenditure
42.0
52.6
55.6
-20.1%
Free cash flow
50.4
82.4
94.7
-38.8%
Free cash flow margin
3.0%
4.6%
5.5%
Cash from investing
-38.8
-56.5
-46.3
Cash from financing
-48.1
-72.1
-109
Depreciation and amortisation
46.4
43.7
41.0
+6.3%
Share-based compensation
9.9
10.4
10.1
-4.6%
Buybacks
158
210
122
-24.6%
Dividends paid
29.0
30.7
27.9
-5.6%
Dividend per share
$0.90
$0.85
$0.75
+5.9%
Diluted shares, weighted
32m
37m
38m
-11.6%
Shares outstanding at period end
31m
34m
37m
-7.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
-319
-122
-3.9
Non-controlling interest
15.2
15.8
13.7
-3.4%
Redeemable equity
5.5
6.7
8.5
-18.9%
Debt
621
467
300
+33.1%
Other liabilities
273
188
194
+45.2%
Total liabilities and equity
596
556
513
+7.3%
Fixed assets
227
234
230
-3.2%
Goodwill
84.5
86.9
85.5
-2.7%
Cash and equivalents
33.3
22.3
15.6
+48.8%
Receivables
78.1
64.6
59.6
+21.0%
Inventory
27.2
30.6
25.1
-11.2%
Other assets
146
117
96.3
+24.9%
Total assets
596
556
513
+7.3%
10-K for the year ended 30 December 2018, filed 8 March 2019: the filing.