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Side-by-side financial comparison of PAPA JOHNS INTERNATIONAL INC (PZZA) and RED ROBIN GOURMET BURGERS INC (RRGB). Click either name above to swap in a different company.
PAPA JOHNS INTERNATIONAL INC is the larger business by last-quarter revenue ($498.2M vs $283.7M, roughly 1.8× RED ROBIN GOURMET BURGERS INC). PAPA JOHNS INTERNATIONAL INC runs the higher net margin — 1.4% vs 1.4%, a 0.0% gap on every dollar of revenue. On growth, RED ROBIN GOURMET BURGERS INC posted the faster year-over-year revenue change (-5.5% vs -6.1%). RED ROBIN GOURMET BURGERS INC produced more free cash flow last quarter ($3.4M vs $2.1M). Over the past eight quarters, PAPA JOHNS INTERNATIONAL INC's revenue compounded faster (-1.5% CAGR vs -15.3%).
Papa John's International, Inc., trading as Papa Johns, is an American pizza restaurant chain. As of 2023, it is the fourth largest pizza delivery restaurant chain in the United States, with headquarters in the Louisville, Kentucky and Atlanta, Georgia metropolitan areas.
Red Robin Gourmet Burgers Inc is a U.S.-headquartered casual dining restaurant chain that specializes in a broad range of gourmet burgers, plus appetizers, signature milkshakes, salads, sandwiches and other family-friendly menu items. It runs outlets across many U.S. states, providing both dine-in and takeout options for consumers with different dining needs.
PZZA vs RRGB — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $498.2M | $283.7M |
| Net Profit | $7.1M | $4.0M |
| Gross Margin | — | — |
| Operating Margin | 4.9% | 3.5% |
| Net Margin | 1.4% | 1.4% |
| Revenue YoY | -6.1% | -5.5% |
| Net Profit YoY | -52.2% | 142.1% |
| EPS (diluted) | $0.22 | $0.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $498.2M | — | ||
| Q3 25 | $508.2M | $283.7M | ||
| Q2 25 | $529.2M | $392.4M | ||
| Q1 25 | $518.3M | — | ||
| Q4 24 | $530.8M | — | ||
| Q3 24 | $506.8M | $300.2M | ||
| Q2 24 | $507.9M | $388.5M | ||
| Q1 24 | $513.9M | — |
| Q4 25 | $7.1M | — | ||
| Q3 25 | $4.7M | $4.0M | ||
| Q2 25 | $9.5M | $1.2M | ||
| Q1 25 | $9.2M | — | ||
| Q4 24 | $14.8M | — | ||
| Q3 24 | $41.8M | $-9.5M | ||
| Q2 24 | $12.2M | $-9.5M | ||
| Q1 24 | $14.6M | — |
| Q4 25 | 4.9% | — | ||
| Q3 25 | 3.2% | 3.5% | ||
| Q2 25 | 4.6% | 2.3% | ||
| Q1 25 | 4.6% | — | ||
| Q4 24 | 5.6% | — | ||
| Q3 24 | 12.9% | -1.5% | ||
| Q2 24 | 5.6% | -0.5% | ||
| Q1 24 | 6.6% | — |
| Q4 25 | 1.4% | — | ||
| Q3 25 | 0.9% | 1.4% | ||
| Q2 25 | 1.8% | 0.3% | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 8.2% | -3.2% | ||
| Q2 24 | 2.4% | -2.4% | ||
| Q1 24 | 2.8% | — |
| Q4 25 | $0.22 | — | ||
| Q3 25 | $0.13 | $0.21 | ||
| Q2 25 | $0.28 | $0.07 | ||
| Q1 25 | $0.27 | — | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $1.27 | $-0.61 | ||
| Q2 24 | $0.37 | $-0.61 | ||
| Q1 24 | $0.44 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.6M | $24.4M |
| Total DebtLower is stronger | $722.3M | — |
| Stockholders' EquityBook value | $-444.8M | $-78.6M |
| Total Assets | $837.5M | $586.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.6M | — | ||
| Q3 25 | $39.0M | $24.4M | ||
| Q2 25 | $33.3M | $24.1M | ||
| Q1 25 | $44.0M | — | ||
| Q4 24 | $38.0M | — | ||
| Q3 24 | $17.6M | $23.1M | ||
| Q2 24 | $24.3M | $30.6M | ||
| Q1 24 | $27.8M | — |
| Q4 25 | $722.3M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-444.8M | — | ||
| Q3 25 | $-439.3M | $-78.6M | ||
| Q2 25 | $-432.0M | $-80.4M | ||
| Q1 25 | $-431.9M | — | ||
| Q4 24 | $-429.5M | — | ||
| Q3 24 | $-430.9M | $-36.5M | ||
| Q2 24 | $-461.7M | $-29.1M | ||
| Q1 24 | $-461.9M | — |
| Q4 25 | $837.5M | — | ||
| Q3 25 | $884.1M | $586.9M | ||
| Q2 25 | $890.4M | $606.2M | ||
| Q1 25 | $898.1M | — | ||
| Q4 24 | $889.0M | — | ||
| Q3 24 | $860.9M | $689.1M | ||
| Q2 24 | $838.4M | $717.1M | ||
| Q1 24 | $847.2M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $19.8M | $9.9M |
| Free Cash FlowOCF − Capex | $2.1M | $3.4M |
| FCF MarginFCF / Revenue | 0.4% | 1.2% |
| Capex IntensityCapex / Revenue | 3.6% | 2.3% |
| Cash ConversionOCF / Net Profit | 2.80× | 2.49× |
| TTM Free Cash FlowTrailing 4 quarters | $61.3M | $11.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.8M | — | ||
| Q3 25 | $39.3M | $9.9M | ||
| Q2 25 | $35.5M | $19.6M | ||
| Q1 25 | $31.3M | — | ||
| Q4 24 | $50.7M | — | ||
| Q3 24 | $13.9M | $512.0K | ||
| Q2 24 | $30.0M | $13.7M | ||
| Q1 24 | $12.0M | — |
| Q4 25 | $2.1M | — | ||
| Q3 25 | $22.7M | $3.4M | ||
| Q2 25 | $17.4M | $7.6M | ||
| Q1 25 | $19.1M | — | ||
| Q4 24 | $25.2M | — | ||
| Q3 24 | $-3.8M | $-5.1M | ||
| Q2 24 | $13.9M | $5.5M | ||
| Q1 24 | $-1.1M | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 4.5% | 1.2% | ||
| Q2 25 | 3.3% | 1.9% | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | -0.8% | -1.7% | ||
| Q2 24 | 2.7% | 1.4% | ||
| Q1 24 | -0.2% | — |
| Q4 25 | 3.6% | — | ||
| Q3 25 | 3.3% | 2.3% | ||
| Q2 25 | 3.4% | 3.1% | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 3.5% | 1.9% | ||
| Q2 24 | 3.2% | 2.1% | ||
| Q1 24 | 2.5% | — |
| Q4 25 | 2.80× | — | ||
| Q3 25 | 8.36× | 2.49× | ||
| Q2 25 | 3.73× | 15.67× | ||
| Q1 25 | 3.40× | — | ||
| Q4 24 | 3.43× | — | ||
| Q3 24 | 0.33× | — | ||
| Q2 24 | 2.45× | — | ||
| Q1 24 | 0.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PZZA
| Commissary | $236.8M | 48% |
| Company Owned Restaurant Sales | $154.4M | 31% |
| Franchisor | $47.5M | 10% |
| Advertising | $37.2M | 7% |
| Other | $22.2M | 4% |
RRGB
| Food And Beverage | $279.3M | 98% |
| Franchise | $3.2M | 1% |
| Products And Services Gift Card | $1.8M | 1% |
| Product And Service Gift Card And Other | $1.2M | 0% |
