Papa John's International Inc (PZZA) — Working Capital to Net Assets Ratio
Papa John's International Inc (PZZA) has a Working Capital to Net Assets ratio of 10.1% as of March 2026. Working capital of $-44.30 Million (current assets of $240.41 Million minus current liabilities of $284.71 Million) is measured against net assets of $-437.45 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See Papa John's International Inc (PZZA) flexibility index to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Papa John's International Inc Working Capital to Net Assets (1992–2025)
This chart shows how Papa John's International Inc's Working Capital to Net Assets ratio has evolved across 34 annual periods from 1992 to 2025. As of March 2026, the ratio stands at 10.1%, reflecting working capital of $-44.30 Million against net assets of $-437.45 Million USD. See PZZA days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Papa John's International Inc (1992–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Papa John's International Inc from 1992 to 2025, covering 34 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see PZZA market cap.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 12.4% | $-53.56 Million | $-432.69 Million | $237.43 Million | $290.99 Million | ▲ +0.9 pp |
| 2024 | 11.5% | $-47.36 Million | $-413.31 Million | $230.60 Million | $277.96 Million | ▼ -5.2 pp |
| 2023 | 16.6% | $-73.58 Million | $-442.76 Million | $231.02 Million | $304.60 Million | ▲ +11.4 pp |
| 2022 | 5.2% | $-14.12 Million | $-269.45 Million | $251.04 Million | $265.16 Million | ▼ -14.2 pp |
| 2021 | 19.4% | $-32.41 Million | $-166.96 Million | $255.01 Million | $287.42 Million | ▲ +26.1 pp |
| 2020 | -6.7% | $17.54 Million | $-260.46 Million | $306.41 Million | $288.87 Million | ▼ -15.1 pp |
| 2019 | 8.3% | $-26.40 Million | $-316.66 Million | $181.55 Million | $207.94 Million | ▲ +10.7 pp |
| 2018 | -2.3% | $7.07 Million | $-302.13 Million | $171.71 Million | $164.64 Million | ▲ +32.7 pp |
| 2017 | -35.0% | $37.13 Million | $-105.95 Million | $169.99 Million | $132.86 Million | ▼ -214.1 pp |
| 2016 | 179.0% | $17.55 Million | $9.80 Million | $145.57 Million | $128.03 Million | ▲ +132.4 pp |
| 2015 | 46.6% | $19.65 Million | $42.21 Million | $152.59 Million | $132.94 Million | ▼ -3.3 pp |
| 2014 | 49.9% | $49.25 Million | $98.72 Million | $156.01 Million | $106.76 Million | ▲ +30.2 pp |
| 2013 | 19.7% | $27.18 Million | $138.18 Million | $125.04 Million | $97.86 Million | ▲ +11.4 pp |
| 2012 | 8.3% | $15.04 Million | $181.51 Million | $118.63 Million | $103.58 Million | ▲ +2.0 pp |
| 2011 | 6.3% | $13.66 Million | $218.22 Million | $93.40 Million | $79.74 Million | ▼ -4.2 pp |
| 2010 | 10.5% | $21.68 Million | $207.20 Million | $112.37 Million | $90.69 Million | ▲ +11.2 pp |
| 2009 | -0.7% | $-1.37 Million | $185.04 Million | $87.40 Million | $88.77 Million | ▲ +18.3 pp |
| 2008 | -19.1% | $-24.78 Million | $129.99 Million | $75.35 Million | $100.13 Million | ▲ +5.7 pp |
| 2007 | -24.7% | $-33.53 Million | $135.55 Million | $73.66 Million | $107.19 Million | ▼ -12.7 pp |
| 2006 | -12.0% | $-17.55 Million | $146.17 Million | $84.54 Million | $102.10 Million | ▼ -6.1 pp |
| 2005 | -5.9% | $-9.53 Million | $161.28 Million | $92.01 Million | $101.53 Million | ▲ +11.7 pp |
| 2004 | -17.6% | $-24.54 Million | $139.22 Million | $89.14 Million | $113.68 Million | ▼ -6.0 pp |
| 2003 | -11.6% | $-18.46 Million | $159.27 Million | $62.46 Million | $80.92 Million | ▲ +2.6 pp |
| 2002 | -14.2% | $-17.27 Million | $121.95 Million | $57.43 Million | $74.70 Million | ▼ -13.5 pp |
| 2001 | -0.7% | $-1.30 Million | $195.63 Million | $65.13 Million | $66.43 Million | ▲ +1.9 pp |
| 2000 | -2.5% | $-4.23 Million | $166.32 Million | $65.52 Million | $69.75 Million | ▲ +5.2 pp |
| 1999 | -7.8% | $-22.70 Million | $292.10 Million | $46.10 Million | $68.80 Million | ▼ -17.0 pp |
| 1998 | 9.2% | $24.20 Million | $262.70 Million | $67.80 Million | $43.60 Million | ▲ +0.4 pp |
| 1997 | 8.8% | $18.80 Million | $212.70 Million | $49.20 Million | $30.40 Million | ▼ -5.2 pp |
| 1996 | 14.0% | $25.30 Million | $180.60 Million | $48.30 Million | $23.00 Million | ▼ -6.1 pp |
| 1995 | 20.1% | $21.40 Million | $106.30 Million | $38.30 Million | $16.90 Million | ▲ +2.4 pp |
| 1994 | 17.7% | $11.10 Million | $62.60 Million | $22.90 Million | $11.80 Million | ▲ +18.2 pp |
| 1993 | -0.5% | $-100.00K | $19.30 Million | $7.10 Million | $7.20 Million | ▲ +16.1 pp |
| 1992 | -16.7% | $-400.00K | $2.40 Million | $3.10 Million | $3.50 Million | — |