Jersey Mike's Subs (JMKE) Investor presentation summary

Recent performance and recognition

• Achieved 3,378 locations nationwide as of Q2 2026, with strong same-store sales growth of 1.7% in Q1 and 2.3% in Q2 2026, driven by transaction growth.

• Systemwide average unit volume reached $1.4M as of Q2 2026.

• Ranked No. 1 Franchise in America by Entrepreneur in January 2026, recognized for unit growth, financial strength, and brand power.

• Dethroned Chick-fil-A as America's favorite fast-food chain according to ACSI in June 2026.

• Signed a 300-unit development agreement for the UK and Ireland, marking the brand's first European expansion.

Business model and growth drivers

• Operates an asset-light, franchise model with 99% of stores franchised, delivering high margins and minimal capital requirements.

• 20+ years of consistent unit and same-store sales growth, with a 20% systemwide sales CAGR since 2006.

• Over 300 new store openings annually in the last five years, with 90%+ of new stores from existing franchise owners.

• Strong pipeline with 1,600+ stores signed or in negotiation in the U.S.

• Highly predictable revenue streams and annuity-like fee structure drive strong cash flow.

Financial performance and unit economics

• Systemwide sales grew from $3.3B in 2023 to $4.2B in 2025, a 12% CAGR.

• Systemwide store count increased from 2,686 in 2023 to 3,256 in 2025, a 10% CAGR.

• Adjusted EBITDA margin rose from 35% in 2023 to 47% in 2025, with minimal capital expenditures (~3% of Adjusted EBITDA).

• Average unit volume (AUV) reached $1.4M in 2025, with 40%+ cash-on-cash returns and store-level EBITDA margin of ~16%.

• Long-term goal to increase systemwide AUV to $2.0M and cash-on-cash returns to ~60%.