Discounted Cash Flow

Papa Johns International Inc.

PZZA · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.7b $102.8m $88.5m 6.0% $2.76
2017 $1.8b (4.1%) $102.3m (-0.5%) $82.4m (-6.9%) 5.7% (-4.4%) $2.86 (3.6%)
2018 $1.6b (-11.8%) $1.6m (-98.4%) $30.8m (-62.7%) 0.1% (-98.2%) $0.05 (-98.3%)
2019 $1.6b (2.9%) $4.9m (195.6%) $24.0m (-21.9%) 0.3% (187.2%) $-0.24 (-580.0%)
2020 $1.8b (12.0%) $57.9m (1090.5%) $150.8m (527.3%) 3.2% (963.2%) $1.29 (637.5%)
2021 $2.1b (14.1%) $120.0m (107.2%) $116.1m (-23.0%) 5.8% (81.6%) $0.12 (-90.7%)
2022 $2.1b (1.6%) $67.8m (-43.5%) $39.4m (-66.1%) 3.2% (-44.4%) $1.90 (1483.3%)
2023 $2.1b (1.6%) $82.1m (21.1%) $116.4m (195.4%) 3.8% (19.2%) $2.49 (31.1%)
2024 $2.1b (-3.6%) $83.5m (1.7%) $34.1m (-70.7%) 4.1% (5.5%) $2.55 (2.4%)
2025 $2.1b (-0.3%) $30.5m (-63.4%) $61.3m (79.5%) 1.5% (-63.3%) $0.90 (-64.7%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model