Papa John's International (FRA:PP1) Cyclically Adjusted PB Ratio: (As of Aug. 02, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:PP1 Papa John's International Inc FRA:PP1
67 GF Score
Price €26.00
GF Value €39.46
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Papa John's International Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Papa John's International  (FRA:PP1) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Papa John's International Cyclically Adjusted PB Ratio Related Terms


Papa John's International Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Papa John's International's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Papa John's International Cyclically Adjusted PB Ratio Chart

Papa John's International Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Papa John's International Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

FRA:PP1 vs BH, CBRL, FWRG: Cyclically Adjusted PB Ratio Comparison

For the Restaurants subindustry, Papa John's International's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Papa John's International Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Papa John's International's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Papa John's International's Cyclically Adjusted PB Ratio falls into.


FRA:PP1
67GF Score
Papa John's International Inc FRA:PP1
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Papa John's International Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Papa John's International's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Papa John's International's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=-11.809/330.2130*330.2130
=-11.809

Current CPI (Mar. 2026) = 330.2130.

Papa John's International Quarterly Data

Book Value per Share CPI Adj_Book
201606 -0.734 241.018 -1.006
201609 -0.596 241.428 -0.815
201612 -0.101 241.432 -0.138
201703 0.226 243.801 0.306
201706 0.221 244.955 0.298
201709 -1.409 246.819 -1.885
201712 -3.031 246.524 -4.060
201803 -6.724 249.554 -8.897
201806 -7.232 251.989 -9.477
201809 -7.927 252.439 -10.369
201812 -8.945 251.233 -11.757
201903 -9.259 254.202 -12.028
201906 -9.396 256.143 -12.113
201909 -9.867 256.759 -12.690
201912 -9.378 256.974 -12.051
202003 -9.690 258.115 -12.397
202006 -8.443 257.797 -10.815
202009 -7.534 260.280 -9.558
202012 -7.127 260.474 -9.035
202103 -6.564 264.877 -8.183
202106 -3.740 271.696 -4.546
202109 -3.579 274.310 -4.308
202112 -4.640 278.802 -5.496
202203 -5.703 287.504 -6.550
202206 -6.698 296.311 -7.464
202209 -7.900 296.808 -8.789
202212 -7.783 296.797 -8.659
202303 -14.178 301.836 -15.511
202306 -13.706 305.109 -14.834
202309 -13.712 307.789 -14.711
202312 -12.958 306.746 -13.949
202403 -13.032 312.332 -13.778
202406 -13.147 314.175 -13.818
202409 -11.897 315.301 -12.460
202412 -12.565 315.605 -13.147
202503 -12.208 319.799 -12.606
202506 -11.435 322.561 -11.706
202509 -11.416 324.800 -11.606
202512 -11.579 324.054 -11.799
202603 -11.809 330.213 -11.809

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Papa John's International (FRA:PP1) Overvalued in 2026?

Based on GuruFocus' analysis, Papa John's International stock appears to be undervalued. The current stock price of €26.00 is trading 34.1% below its estimated GF Value™ of €39.46. GuruFocus considers Papa John's International to be Significantly Undervalued.

Key valuation signals for FRA:PP1:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €39.46 vs. price of €26.00 (34.1% below fair value)
  • GF Score™: 67/100 with 3 warning signs

No single metric tells the full story. See the FRA:PP1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Papa John's International Business Description

Other Exchanges PZZA:USA1PZZA:Italy
Address 2002 Papa John\'s Boulevard, Louisville, KY, USA, 40299-2367
Papa John's International Inc operates and franchises pizza delivery and carryout restaurants and, in certain international markets, dine-in and delivery restaurants. It has four defined reportable segments: Domestic Company-owned restaurants, North America franchising, North America commissaries, and International. The company derives maximum revenue from North America commissaries segment. The North America commissaries segment consists of the operations of its regional dough production and product distribution centers in the United States and Canada and derives its revenues principally from the sale and distribution of food and paper products to Domestic Company-owned and franchised restaurants in the United States and Canada.
67GF Score

Get the complete analysis for FRA:PP1

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€26.00
Price
€39.46
GF Value