Papa John's International (PZZA) FY2023 results: revenue $2.1 billion, up 1.6% on the year
Papa John's International, Inc. (PZZA) reported revenue of $2.1 billion for fiscal 2023, the year ended 31 December 2023, up 1.6% on the year before. Net income was $82 million, up 21.1%, and diluted earnings per share $2.48. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$2.1 billion
+1.6% on the year
FY2016FY2023
Operating margin
6.9%
5.2% a year earlier
FY2016FY2023
Net income
$82 million
+21.1% on the year
FY2016FY2023
Diluted EPS
$2.48
+31.2% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
193
118
185
+63.9%
Capital expenditure
76.6
78.4
68.6
-2.3%
Free cash flow
116
39.4
116
+195.4%
Free cash flow margin
5.5%
1.9%
5.6%
Cash from investing
-75.1
-62.8
-63.5
Cash from financing
-124
-76.2
-181
Depreciation and amortisation
64.1
52.0
48.8
+23.2%
Share-based compensation
17.9
18.4
16.9
-2.5%
Buybacks
210
125
72.5
+68.3%
Dividends paid
58.5
54.8
40.4
+6.7%
Dividend per share
$1.76
$1.54
$1.15
+14.3%
Diluted shares, weighted
33m
36m
35m
-7.2%
Shares outstanding at period end
32m
35m
36m
-6.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
-459
-286
-188
Non-controlling interest
15.5
15.7
15.2
-1.6%
Redeemable equity
0.9
1.2
5.5
-30.1%
Debt
757
597
481
+26.9%
Operating lease liabilities
151
161
161
-6.1%
Finance lease liabilities
24.1
19.0
16.6
+26.9%
Other liabilities
385
357
395
+8.0%
Total liabilities and equity
875
864
886
+1.2%
Fixed assets
283
250
224
+13.2%
Goodwill
76.2
70.6
80.6
+7.9%
Cash and equivalents
40.6
47.4
70.6
-14.3%
Receivables
104
103
81.4
+1.7%
Inventory
36.1
41.4
35.0
-12.7%
Other assets
335
353
394
-5.0%
Total assets
875
864
886
+1.2%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.