Papa Johns International Inc balance sheet

At the end of fiscal 2025, Papa Johns International Inc had total assets of $838m, total liabilities of $1.27bn and shareholders' equity of −$445m. It held $34.6m in cash against $722m of debt: net debt of $688m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Papa Johns International Inc: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	25	48	19	16	14	20	21	16	27	33	28	130	71	47	41	38	35	28
Receivables	21	25	28	44	53	56	63	60	65	78	70	90	81	103	104	102	103	95
Inventory	16	17	20	22	23	27	22	25	31	27	28	30	35	41	36	35	34	33
Total current assets	84	117	95	119	125	148	153	146	170	196	182	306	255	251	231	231	237	234
Goodwill	75	75	75	79	79	82	80	86	87	85	80	81	81	71	76	75	68	65
Total assets	394	416	390	438	464	505	494	513	554	596	731	873	886	864	875	889	838	805
Accounts payable	27	32	33	33	36	39	43	43	30	27	29	37	28	62	75	62	61	68
Deferred revenue (current)	—	—	—	—	—	—	—	—	2	6	18	20	22	21	20	16	13	9
Total current liabilities	87	76	81	104	98	107	133	128	149	189	208	289	287	265	305	278	291	283
Short-term debt	—	—	—	—	—	—	—	—	20	20	20	20	—	0	0	0	5	12
Long-term debt	—	99	51	88	158	230	255	300	447	601	347	328	481	597	757	742	710	715
Total debt	99	99	51	88	158	230	256	301	467	625	370	350	490	605	764	747	722	734
Total liabilities	—	—	—	251	319	397	443	494	675	894	790	881	1,053	1,134	1,318	1,302	1,270	1,246
Shareholders' equity	177	199	206	182	138	86	29	−4	−143	−319	−332	−282	−188	−286	−459	−430	−445	−453
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	21	21	22	22	21	273	274	21	—	—	—	—	—
Net debt (negative = net cash)	74	51	33	72	144	210	235	285	440	592	342	220	419	558	723	709	688	705
Shares outstanding	—	—	—	45m	42m	40m	38m	37m	34m	31m	32m	33m	36m	35m	33m	33m	33m	33m

US$ millions unless shown otherwise. Fiscal quarters.

Papa Johns International Inc: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	102	102	100	104	104	103	101	95
Inventory	36	35	37	37	36	34	36	33
Total current assets	216	231	242	239	271	237	240	234
Goodwill	76	75	76	77	67	68	67	65
Total assets	861	889	898	890	884	838	832	805
Accounts payable	63	62	69	75	70	61	67	68
Deferred revenue (current)	20	16	14	13	13	13	11	9
Total current liabilities	271	278	283	293	311	291	285	283
Short-term debt	6	0	—	—	3	5	8	12
Long-term debt	721	742	742	726	727	710	727	715
Total debt	727	742	742	726	730	715	735	727
Total liabilities	1,276	1,302	1,314	1,306	1,308	1,270	1,269	1,246
Shareholders' equity	−431	−430	−432	−432	−439	−445	−449	−453
Shares outstanding	33m	33m	33m	33m	33m	33m	33m	33m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Papa Johns International Inc's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Papa Johns International Inc.