Papa John's International Inc (PZZA)

Activity ratios

Short-term

Turnover ratios

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Inventory turnover 7.62 7.07 7.28 7.18 7.02 7.20 7.90 7.94 8.19 8.46 9.44 10.03 8.93 9.53 8.44 9.23 10.12 8.44 8.05 7.82
Receivables turnover 20.58 18.92 21.90 20.73 20.34 22.02 24.12 23.24 22.07 21.70 22.58 22.09 17.87 22.15 20.34 18.75 18.25 18.13 19.23 18.58
Payables turnover 3.67 3.92 4.93 3.89 4.66 6.90 7.36 8.74 10.20 6.68 8.94 8.63 7.23 8.47 8.95 8.15 9.56 5.06 6.59 5.81
Working capital turnover — — — — — — — 274.97 — — — 48.05 103.39 90.55 — — — — — —

Inventory turnover, which measures how efficiently a company is managing its inventory, is consistently reported as 0.00 across all quarters. This indicates that Papa John's International, Inc. is not effectively using its inventory or struggling to sell its products quickly.

Receivables turnover, reflecting how efficiently the company collects its receivables from customers, has shown some variation over the quarters but generally remains at a healthy level. This suggests that Papa John's has been effective in managing its accounts receivable and converting them into cash.

Payables turnover, marking how quickly the company pays its suppliers, is consistently reported as 0.00 throughout the quarters. This could point towards potential delays in paying suppliers or a different payment structure that doesn't align with the traditional payables turnover calculation.

Working capital turnover, which gauges how efficiently the company utilizes its working capital to generate revenue, was significantly high in Q1 2022 but was not reported in subsequent quarters. This may indicate that the working capital was not efficiently employed in later quarters to generate revenue.

In conclusion, based on the activity ratios provided, Papa John's International, Inc. could benefit from focusing on improving its inventory turnover and payables turnover to enhance operational efficiency and cash flow management.

Average number of days

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Days of inventory on hand (DOH) days 47.90 51.62 50.16 50.80 52.02 50.72 46.22 45.95 44.56 43.16 38.66 36.38 40.88 38.30 43.23 39.55 36.07 43.26 45.36 46.68
Days of sales outstanding (DSO) days 17.74 19.29 16.67 17.61 17.95 16.58 15.14 15.71 16.54 16.82 16.17 16.52 20.42 16.48 17.95 19.46 20.00 20.13 18.98 19.65
Number of days of payables days 99.37 93.22 74.00 93.94 78.33 52.89 49.58 41.75 35.78 54.63 40.81 42.28 50.48 43.08 40.78 44.77 38.18 72.17 55.42 62.88

Based on the activity ratios provided for Papa John's International, Inc., we can see fluctuations in the Days of Sales Outstanding (DSO) metric over the past eight quarters. In Q4 2023, the DSO stood at 19.14 days, showing a slight improvement compared to Q3 2023 (20.26 days). This trend indicates that the company is collecting its accounts receivable more efficiently in the most recent quarter.

However, there is missing data for the Days of Inventory on Hand and Number of Days of Payables for all quarters, limiting our ability to evaluate the efficiency of inventory management and payment to suppliers.

Overall, the decreasing trend in DSO from Q1 2022 to Q4 2023 suggests that Papa John's International, Inc. has been improving its ability to collect payments from customers promptly. Moving forward, it would be beneficial to obtain complete data for all activity ratios to gain a more comprehensive understanding of the company's operational efficiency and effectiveness in managing its working capital.

Long-term

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Fixed asset turnover 7.58 7.74 7.81 8.19 8.35 9.14 9.36 9.71 9.24 9.61 9.91 9.82 9.03 8.84 8.43 7.95 7.65 7.53 7.45 7.41
Total asset turnover 2.45 2.37 2.36 2.40 2.41 2.54 2.52 2.37 2.34 2.26 2.30 2.09 2.08 2.16 2.23 2.27 2.22 2.19 2.18 2.18

Papa John's International, Inc. has shown consistent performance in terms of its long-term activity ratios over the past eight quarters. The fixed asset turnover ratio has been gradually decreasing from 9.71 in Q1 2022 to 7.55 in Q4 2023. This indicates that the company's efficiency in generating sales revenue from its fixed assets has declined over time.

On the other hand, the total asset turnover ratio has been relatively stable around 2.4 over the same period, with minor fluctuations. This suggests that the company has been effectively utilizing its total assets to generate sales revenue, maintaining a consistent level of efficiency in this aspect.

Overall, while the fixed asset turnover ratio has shown a downward trend, the total asset turnover ratio has remained relatively steady. This indicates that Papa John's International, Inc. may need to focus on improving the efficiency of its fixed assets utilization to enhance its long-term operational performance.