Papa John's International (PZZA) FY2019 results: revenue $1.6 billion, down 2.6% on the year
Papa John's International, Inc. (PZZA) reported revenue of $1.6 billion for fiscal 2019, the year ended 29 December 2019, down 2.6% on the year before. Net income was $5 million, up 96.7%, and diluted earnings per share $-0.24. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$1.6 billion
-2.6% on the year
FY2012FY2019
Operating margin
1.5%
1.9% a year earlier
FY2012FY2019
Net income
$5 million
+96.7% on the year
FY2012FY2019
Diluted EPS
-$0.24
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,619
1,663
1,783
-2.6%
Operating income
24.5
31.6
151
-22.2%
Operating margin
1.5%
1.9%
8.5%
Interest expense
20.6
25.7
11.3
-19.8%
Pre-tax income
5.0
6.7
140
-24.7%
Income tax
-0.6
2.6
33.8
Effective tax rate
-12.1%
39.2%
24.1%
Net income
4.9
2.5
102
+96.7%
Net margin
0.3%
0.1%
5.7%
Diluted EPS
-$0.24
$0.08
$2.83
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
61.7
92.5
135
-33.2%
Capital expenditure
37.7
42.0
52.6
-10.3%
Free cash flow
24.0
50.4
82.4
-52.3%
Free cash flow margin
1.5%
3.0%
4.6%
Cash from investing
-32.6
-38.8
-56.5
Cash from financing
-34.6
-48.1
-72.1
Depreciation and amortisation
47.3
46.4
43.7
+1.9%
Share-based compensation
15.3
9.9
10.4
+54.0%
Buybacks
n/a
158
210
Dividends paid
28.6
29.0
30.7
-1.5%
Dividend per share
$0.90
$0.90
$0.85
0.0%
Diluted shares, weighted
32m
32m
37m
-2.1%
Shares outstanding at period end
32m
31m
34m
+1.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-332
-319
-122
Non-controlling interest
15.7
15.2
15.8
+2.9%
Redeemable equity
251
5.5
6.7
+4,496.1%
Debt
367
621
467
-40.9%
Operating lease liabilities
125
n/a
n/a
Finance lease liabilities
7.6
n/a
n/a
Other liabilities
296
273
188
+8.3%
Total liabilities and equity
731
596
556
+22.6%
Fixed assets
212
227
234
-6.7%
Goodwill
80.3
84.5
86.9
-4.9%
Cash and equivalents
27.9
33.3
22.3
-16.1%
Receivables
70.5
78.1
64.6
-9.8%
Inventory
27.5
27.2
30.6
+1.2%
Other assets
313
146
117
+114.3%
Total assets
731
596
556
+22.6%
10-K for the year ended 29 December 2019, filed 26 February 2020: the filing.