Here are 1-3 brief analogies for Papa John's International (PZZA):

• The McDonald's of pizza.
• Starbucks for pizza delivery.

Papa John's International (PZZA) offers the following major products:

• Pizzas: Their core product, available in various crusts, sizes, and with a wide selection of fresh toppings.
• Sides: Complementary food items such as Papa Bites, breadsticks, cheesesticks, chicken wings, and chicken poppers.
• Desserts: Sweet treats like their Papa Johns chocolate chip cookie or double chocolate brownie.
• Beverages: A selection of soft drinks to accompany meals.
• Dipping Sauces: Various sauces provided with pizzas and sides for enhanced flavor.

Papa John's International (symbol: PZZA) primarily sells its products directly to individuals through its network of corporate and franchised restaurants. Therefore, its major customers are individual consumers rather than other companies.

The company serves the following categories of individual customers:

1. Families and Households: This segment often orders pizza for dinner, parties, or casual gatherings, prioritizing convenience, value, and options to satisfy multiple preferences.
2. Young Adults and Students: Frequently seeking affordable, quick, and shareable meal options for social occasions, study sessions, or everyday convenience.
3. Individuals and Small Groups (e.g., Professionals, Singles): Looking for convenient, ready-to-eat meal solutions for lunch or dinner, valuing speed and ease of ordering, particularly when cooking is not an option or desired.

Todd Penegor, President and Chief Executive Officer

Todd Penegor was appointed President and Chief Executive Officer of Papa John's International in August 2024. He brings over 20 years of experience in the restaurant and consumer goods industries. Prior to joining Papa John's, he served as President and CEO and Chief Financial Officer at The Wendy's Company. His career also includes leadership roles at Kellogg Company and Ford Motor Company.

Ravi Thanawala, Chief Financial Officer and EVP, International

Ravi Thanawala was appointed Chief Financial Officer and Executive Vice President, International in September 2024, having previously served as the company's Chief Financial Officer since July 2023. He joined Papa John's from Nike, Inc., where his roles included Chief Financial Officer of Nike North America and Global VP and CFO of the Converse brand, which involved working within a franchise model for much of its international business.

Caroline Miller Oyler, Chief Administrative Officer & Corporate Secretary

Caroline Miller Oyler has served as Chief Administrative Officer since June 2025 (effective June 2025 per source 5, though this date may be a forward-looking statement as of current date, source 1 lists her in this role for current year). Before this, she was the company's Corporate Secretary and Chief Legal and Risk Officer. Her tenure at Papa John's includes positions as Chief Legal Officer and Senior Vice President, Senior Vice President and General Counsel, and Interim Head of Human Resources.

Kurt Milburn, Chief Supply Chain Officer

Kurt Milburn was appointed Chief Supply Chain Officer in April 2024, after serving as Vice President, Supply Chain Operations since 2022. In his current role, he oversees PJ Food Service (PJFS), including International Supply Chain Operations, Quality Control Center Operations, Supplier Management, Engineering, and Quality Assurance teams. Prior to Papa John's, he was Senior Vice President, Supply Chain Operations at Scott's Miracle-Gro Company, and held various supply chain and engineering leadership roles at General Electric and General Motors.

Jenna Bromberg, Chief Marketing Officer

Jenna Bromberg was appointed Chief Marketing Officer, effective November 14, 2024. She is responsible for Papa John's marketing strategy, brand development, digital customer experience, creative initiatives, and product innovation. Ms. Bromberg joined Papa John's from Carter's Inc., where she was the Vice President of Brand Marketing and Creative. She also previously served as Director of Core Brand Marketing at Pizza Hut.

Papa John's International (PZZA) primarily operates within the global pizza and quick-service restaurant (QSR) markets.

The addressable market sizes for its main product, pizza, and its services within the broader fast-food industry are as follows:

Global Market

• The global pizza market size was estimated at USD 155.2 billion in 2024 and is projected to reach USD 226.2 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 4.27% from 2025 to 2033. Another estimate places the global pizza market at USD 272.40 billion in 2024, projected to grow to USD 409.50 billion by 2032 with a CAGR of 5.42% during 2025-2032. The global pizza market is also expected to increase by USD 70.1 billion, at a CAGR of 6.8% from 2024 to 2029.
• The global fast-food market size was estimated at USD 780.61 billion in 2025 and is predicted to reach approximately USD 1,077.37 billion by 2034, accelerating at a CAGR of 3.65% from 2025 to 2034. Another report valued the global fast-food market at USD 595.93 billion in 2021, projecting it to reach USD 851.34 billion by 2029 with a CAGR of 5.0% from 2022 to 2029.

U.S. Market

• The United States pizza market was approximately USD 21.89 billion in 2024, with projections to reach USD 32.72 billion by 2034, demonstrating a CAGR of 4.10% between 2025 and 2034. Other data indicates the U.S. pizza market size reached USD 37.9 billion in 2024, with an expectation to reach USD 49.8 billion by 2033 at a CAGR of 3.1% during 2025-2033. The market size of Pizza Restaurants in the U.S. is $49.5 billion in 2025.
• The U.S. fast-food market size reached USD 188.9 billion in 2024 and is expected to reach USD 261.9 billion by 2033, with a CAGR of 3.4% during 2025-2033. Another source reported the U.S. fast-food market at USD 212.89 billion in 2024, with a forecast to reach USD 321.24 billion by 2034, growing at a CAGR of 4.20% between 2025 and 2034. The U.S. fast food & quick service restaurant (QSR) market size was evaluated at $405 billion in 2023 and is slated to hit $663 billion by the end of 2032, with a CAGR of nearly 10.3% between 2024 and 2032. The North America fast food market size surpassed USD 210.77 billion in 2024 and is expanding at a CAGR of 3.83% during the forecast period.

Papa John's International (PZZA) is focusing on several key strategies to drive future revenue growth over the next two to three years:

1. Accelerated International Expansion: Papa John's is prioritizing aggressive growth in its international markets. The company expects international sales to increase by 5-6% in 2025 and plans to open between 180 and 200 new international locations during the same year. This growth is driven by strategic initiatives and strong performance in key markets across Europe, the Middle East, and Asia Pacific.
2. Product Innovation and Enhanced Value Proposition: The company is committed to a "robust innovation pipeline" and a "more forward-leaning value proposition" to boost transactions and broaden its market reach. This includes reimagining side items with more accessible price points, exploring new crust types, handhelds, pastas, and bowls, and introducing new offerings like "The Grand Papa Pizza." Recent efforts also include selective promotions, such as a "50% off carryout offer," aimed at driving customer engagement.
3. Investment in Technology and Loyalty Program: Papa John's is leveraging technology, including a strategic partnership with Google Cloud for AI-driven customer personalization, to enhance its digital platforms. The goal is to improve app conversion rates and further develop its Papa Rewards loyalty program, which currently boasts 37 million members. The loyalty program has been revamped to offer better value and more tailored discounts, contributing to a 21% increase in active members since 2023.
4. Strategic North American Unit Development: While facing some challenges in North American comparable sales, Papa John's plans to open 85-95 new restaurants in North America in 2025. The company is accelerating its refranchising program over the next two years to strengthen local markets and enhance operational efficiency, with a goal to reduce corporate restaurant ownership to a mid-single-digit percentage of the North American system. Incentives are being provided to franchisees to encourage new unit development.

Share Repurchases

• Papa John's has spent over $410 million on share repurchases since 2020, buying back more than 10% of its outstanding shares.
• As of March 2, 2023, approximately $90 million remained available under the existing share repurchase authorization, which included a $425 million program and a previous $75 million authorization from 2020.
• In fiscal year 2021, the company repurchased approximately 594,000 shares for an aggregate cost of $72.5 million.

Inbound Investments

• In October 2025, Apollo Global Management submitted a new bid to acquire Papa John's International, offering $64 per share, valuing the company at roughly $3 billion.
• In November 2025, TriArtisan Capital Advisors reportedly submitted a $65 per share bid to take Papa John's private, valuing it at $2.7 billion, following Apollo's prior withdrawal of a $2.1 billion offer.
• In June 2025, Apollo Global Management and Irth Capital Management jointly proposed to take Papa John's private in a deal valuing the pizza chain at over $1.7 billion.

Outbound Investments

• During the three months ended June 25, 2023, Papa John's incurred $1.3 million in acquisition-related costs as part of investments to reposition its UK portfolio and drive growth.

Capital Expenditures

• Papa John's projected capital expenditures for fiscal year 2025 are between $75 million and $85 million.
• The company's capital expenditures averaged $66.341 million for fiscal years ending December 2020 to 2024, peaking at $78.391 million in December 2022.
• The primary focus for capital expenditures in 2025 is to enhance the company's competitive edge in key markets and invest in a world-class technological platform to elevate customer experience.