Portillo'S Inc. Financials

PTLO

Source SEC Filings (10-K/10-Q) Updated Sep 28, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 34/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Portillo'S Inc. has an operating margin of 8.2%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 41/100, indicating healthy but not exceptional operating efficiency. This is up from 8.2% the prior year.

Growth

Portillo'S Inc.'s revenue grew a modest 4.5% year-over-year to $710.6M. This slow but positive growth earns a score of 41/100.

Leverage

Portillo'S Inc. carries a low D/E ratio of 0.69, meaning only $0.69 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Portillo'S Inc.'s current ratio of 0.39 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

While Portillo'S Inc. generated $98.0M in operating cash flow, capex of $88.2M consumed most of it, leaving $9.8M in free cash flow. This results in a low score of 7/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Portillo'S Inc. generates a 7.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is up from 5.7% the prior year.

Altman Z-Score Distress

0.81

Portillo'S Inc. scores 0.81, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

5/9

Portillo'S Inc. passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

3.32x

For every $1 of reported earnings, Portillo'S Inc. generates $3.32 in operating cash flow ($98.0M OCF vs $29.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.3x

Portillo'S Inc. earns $2.3 in operating income for every $1 of interest expense ($58.0M vs $25.6M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

This page shows Portillo'S Inc. (PTLO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$710.6M

YoY+4.5%

5Y CAGR+8.2%

Portillo'S Inc. generated $710.6M in revenue in fiscal year 2024. This represents an increase of 4.5% from the prior year.

EBITDA

$85.3M

YoY+7.0%

5Y CAGR+3.1%

Portillo'S Inc.'s EBITDA was $85.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.0% from the prior year.

Free Cash Flow

$9.8M

YoY+157.5%

5Y CAGR-14.3%

Portillo'S Inc. generated $9.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 157.5% from the prior year.

Net Income

$29.5M

YoY+60.2%

Portillo'S Inc. reported $29.5M in net income in fiscal year 2024. This represents an increase of 60.2% from the prior year.

EPS (Diluted)

$0.46

YoY+43.8%

Portillo'S Inc. earned $0.46 per diluted share (EPS) in fiscal year 2024. This represents an increase of 43.8% from the prior year.

Cash & Debt

$22.9M

YoY+119.2%

5Y CAGR+0.2%

Portillo'S Inc. held $22.9M in cash against $275.4M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

8.2%

YoY+0.0pp

5Y CAGR-2.0pp

Portillo'S Inc.'s operating margin was 8.2% in fiscal year 2024, reflecting core business profitability. This is up 0.0 percentage points from the prior year.

Net Margin

4.2%

YoY+1.4pp

5Y CAGR+6.8pp

Portillo'S Inc.'s net profit margin was 4.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.4 percentage points from the prior year.

Return on Equity

7.4%

YoY+1.6pp

Portillo'S Inc.'s ROE was 7.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.6 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$88.2M

YoY+0.3%

5Y CAGR+32.0%

Portillo'S Inc. invested $88.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 0.3% from the prior year.

PTLO Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$710.6M+4.5%	$679.9M+15.8%	$587.1M+9.7%	$535.0M+17.5%	$455.5M-5.0%	$479.4M
Cost of Revenue	N/A	N/A	$204.2M+22.5%	$166.8M+17.1%	$142.4M-4.4%	$149.1M
Gross Profit	N/A	N/A	$382.9M+4.0%	$368.2M+17.6%	$313.0M-5.2%	$330.4M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$75.1M-4.8%	$78.8M+17.9%	$66.9M-23.2%	$87.1M+118.5%	$39.9M-7.6%	$43.1M
Operating Income	$58.0M+4.7%	$55.4M+34.3%	$41.3M+37.5%	$30.0M-47.6%	$57.3M+17.1%	$48.9M
Interest Expense	$25.6M-6.7%	$27.5M-0.6%	$27.6M-30.4%	$39.7M-11.9%	$45.0M+3.8%	$43.4M
Income Tax	$6.8M+109.3%	$3.2M+78.2%	$1.8M+151.6%	-$3.5M	$0	$0
Net Income	$29.5M+60.2%	$18.4M+69.8%	$10.9M+171.5%	-$15.2M-83.8%	-$8.3M+35.8%	-$12.9M
EPS (Diluted)	$0.46+43.8%	$0.32+28.0%	$0.25+159.5%	$-0.42-162.5%	$-0.16+36.0%	$-0.25

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$181.4M-3.7%	$188.5M+6.8%	$176.4M-4.4%	$184.6M+1.5%	$181.9M+9.7%	$165.8M-11.7%	$187.9M+12.6%	$166.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$20.0M+6.5%	$18.8M-0.6%	$18.9M-6.9%	$20.3M+13.2%	$17.9M-3.2%	$18.5M-14.0%	$21.6M+14.0%	$18.9M
Operating Income	$5.4M-69.0%	$17.5M+68.9%	$10.4M-25.0%	$13.8M-23.6%	$18.1M+79.4%	$10.1M-30.2%	$14.5M-4.2%	$15.1M
Interest Expense	$5.7M-1.1%	$5.7M-0.4%	$5.7M-4.7%	$6.0M-8.6%	$6.6M+1.1%	$6.5M-5.8%	$6.9M+5.4%	$6.6M
Income Tax	-$1.2M-133.9%	$3.7M+170.5%	$1.4M-28.5%	$1.9M-45.6%	$3.5M+407.5%	-$1.1M-218.5%	-$357K-113.6%	$2.6M
Net Income	$1.2M-86.1%	$8.7M+162.7%	$3.3M-70.6%	$11.3M+74.1%	$6.5M+41.8%	$4.6M-41.4%	$7.8M+78.6%	$4.4M
EPS (Diluted)	$0.02-83.3%	$0.12+140.0%	$0.05-70.6%	$0.17+70.0%	$0.10+25.0%	$0.08-42.9%	$0.14+100.0%	$0.07

PTLO Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.5B+8.3%	$1.4B+8.2%	$1.3B+28.1%	$999.6M+9.8%	$910.2M	N/A
Current Assets	$52.7M+25.6%	$41.9M-35.8%	$65.3M+10.7%	$59.0M+8.0%	$54.6M	N/A
Cash & Equivalents	$22.9M+119.2%	$10.4M-76.5%	$44.4M+13.2%	$39.3M-4.7%	$41.2M+82.1%	$22.6M
Inventory	$7.9M-9.4%	$8.7M+18.2%	$7.4M+21.5%	$6.1M+19.8%	$5.1M	N/A
Accounts Receivable	$5.9M-2.9%	$6.1M+13.6%	$5.4M-31.5%	$7.8M+50.7%	$5.2M	N/A
Goodwill	$394.3M0.0%	$394.3M0.0%	$394.3M0.0%	$394.3M0.0%	$394.3M	N/A
Total Liabilities	$1.0B+9.1%	$925.4M+9.2%	$847.2M+2.3%	$828.3M+7.6%	$769.5M	N/A
Current Liabilities	$135.6M+29.2%	$104.9M+35.7%	$77.3M+15.5%	$66.9M+0.9%	$66.4M	N/A
Long-Term Debt	$275.4M-3.0%	$283.9M-9.7%	$314.4M-0.4%	$315.8M-32.3%	$466.4M	N/A
Total Equity	$401.1M+24.4%	$322.4M+25.8%	$256.3M+49.7%	$171.3M+21.7%	$140.7M-4.8%	$147.7M
Retained Earnings	$43.1M+216.8%	$13.6M+382.9%	-$4.8M+69.8%	-$15.9M	$0	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$1.6B+2.4%	$1.6B+3.6%	$1.5B-0.1%	$1.5B+4.3%	$1.4B+1.6%	$1.4B+2.3%	$1.4B+2.0%	$1.4B
Current Assets	$50.1M-0.4%	$50.3M+20.2%	$41.9M-20.5%	$52.7M+25.5%	$41.9M-1.0%	$42.4M+1.1%	$41.9M+7.1%	$39.1M
Cash & Equivalents	$17.2M+3.7%	$16.6M+28.5%	$12.9M-43.5%	$22.9M+85.1%	$12.4M-6.3%	$13.2M+26.3%	$10.4M-19.4%	$12.9M
Inventory	$9.2M-8.6%	$10.1M+51.3%	$6.7M-15.7%	$7.9M-9.6%	$8.8M+2.9%	$8.5M-2.6%	$8.7M+36.1%	$6.4M
Accounts Receivable	N/A	N/A	N/A	$5.9M	N/A	N/A	$6.1M-59.2%	$15.0M
Goodwill	$394.3M0.0%	$394.3M0.0%	$394.3M0.0%	$394.3M0.0%	$394.3M0.0%	$394.3M0.0%	$394.3M0.0%	$394.3M
Total Liabilities	$1.1B+3.4%	$1.1B+6.2%	$1.0B-0.6%	$1.0B+3.6%	$974.8M+1.1%	$964.5M+4.2%	$925.4M+1.7%	$910.1M
Current Liabilities	$187.3M+9.4%	$171.3M+3.2%	$165.9M+22.4%	$135.6M+24.1%	$109.3M-6.5%	$116.9M+11.4%	$104.9M+16.6%	$90.0M
Long-Term Debt	$239.4M-0.6%	$240.8M-0.6%	$242.1M-12.1%	$275.4M-1.2%	$278.7M-1.3%	$282.2M-0.6%	$283.9M-1.2%	$287.5M
Total Equity	$459.4M+0.1%	$458.9M+12.8%	$406.9M+1.5%	$401.1M+8.3%	$370.2M+2.7%	$360.5M+11.8%	$322.4M+3.4%	$311.9M
Retained Earnings	$56.4M+2.2%	$55.1M+18.7%	$46.4M+7.7%	$43.1M+75.0%	$24.6M+35.6%	$18.2M+33.5%	$13.6M+133.8%	$5.8M

PTLO Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$98.0M+38.5%	$70.8M+24.4%	$56.9M+32.7%	$42.9M-26.4%	$58.3M+34.5%	$43.3M
Capital Expenditures	$88.2M+0.3%	$87.9M+86.8%	$47.1M+30.1%	$36.2M+68.7%	$21.5M-2.7%	$22.0M
Free Cash Flow	$9.8M+157.5%	-$17.1M-274.4%	$9.8M+46.9%	$6.7M-81.8%	$36.8M+73.0%	$21.3M
Investing Cash Flow	-$88.1M-0.3%	-$87.8M-86.8%	-$47.0M-29.7%	-$36.3M-69.3%	-$21.4M+2.7%	-$22.0M
Financing Cash Flow	$2.5M+114.8%	-$16.9M-259.7%	-$4.7M+46.4%	-$8.8M+51.3%	-$18.0M-54.0%	-$11.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$20.0M+4.2%	$19.2M+103.6%	$9.4M-63.8%	$26.1M-19.9%	$32.6M+258.6%	$9.1M-47.3%	$17.2M-22.7%	$22.3M
Capital Expenditures	$25.0M+78.2%	$14.0M-26.3%	$19.0M-39.9%	$31.7M+86.7%	$17.0M+0.2%	$16.9M-44.0%	$30.3M+49.0%	$20.3M
Free Cash Flow	-$5.0M-195.5%	$5.2M+154.2%	-$9.6M-71.5%	-$5.6M-135.9%	$15.6M+298.2%	-$7.9M+39.7%	-$13.0M-765.7%	$2.0M
Investing Cash Flow	-$25.0M-78.1%	-$14.0M+26.3%	-$19.0M+39.9%	-$31.7M-87.6%	-$16.9M+0.3%	-$16.9M+44.0%	-$30.3M-49.4%	-$20.3M
Financing Cash Flow	$5.6M+465.8%	-$1.5M-334.9%	-$350K-103.5%	$9.9M+160.3%	-$16.5M-255.4%	$10.6M+0.7%	$10.5M+191.5%	-$11.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PTLO Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	65.2%-3.6pp	68.8%+0.1pp	68.7%-0.2pp	68.9%
Operating Margin	8.2%+0.0pp	8.2%+1.1pp	7.0%+1.4pp	5.6%-7.0pp	12.6%+2.4pp	10.2%
Net Margin	4.2%+1.4pp	2.7%+0.9pp	1.8%+4.7pp	-2.8%-1.0pp	-1.8%+0.9pp	-2.7%
Return on Equity	7.4%+1.6pp	5.7%+1.5pp	4.2%	N/A	N/A	N/A
Return on Assets	2.0%+0.6pp	1.3%+0.5pp	0.9%+2.4pp	-1.5%-0.6pp	-0.9%	N/A
Current Ratio	0.39-0.0	0.40-0.4	0.85-0.0	0.88+0.1	0.82	N/A
Debt-to-Equity	0.69-0.2	0.88-0.3	1.23-0.6	1.84-1.5	3.31	N/A
FCF Margin	1.4%+3.9pp	-2.5%-4.2pp	1.7%+0.4pp	1.3%-6.8pp	8.1%+3.6pp	4.4%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	3.0%-6.3pp	9.3%+3.4pp	5.9%-1.6pp	7.5%-2.5pp	10.0%+3.9pp	6.1%-1.6pp	7.7%-1.3pp	9.0%
Net Margin	0.7%-4.0pp	4.6%+2.7pp	1.9%-4.2pp	6.1%+2.5pp	3.6%+0.8pp	2.8%-1.4pp	4.2%+1.5pp	2.6%
Return on Equity	0.3%-1.6pp	1.9%+1.1pp	0.8%-2.0pp	2.8%+1.1pp	1.8%+0.5pp	1.3%-1.1pp	2.4%+1.0pp	1.4%
Return on Assets	0.1%-0.5pp	0.6%+0.3pp	0.2%-0.5pp	0.8%+0.3pp	0.4%+0.1pp	0.3%-0.2pp	0.6%+0.2pp	0.3%
Current Ratio	0.27-0.0	0.29+0.0	0.25-0.1	0.390.0	0.38+0.0	0.36-0.0	0.40-0.0	0.43
Debt-to-Equity	0.520.0	0.52-0.1	0.60-0.1	0.69-0.1	0.75-0.0	0.78-0.1	0.88-0.0	0.92
FCF Margin	-2.7%-5.5pp	2.8%+8.2pp	-5.4%-2.4pp	-3.0%-11.6pp	8.6%+13.3pp	-4.7%+2.2pp	-7.0%-8.1pp	1.2%

Note: The current ratio is below 1.0 (0.39), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Portillo'S Inc.'s annual revenue?

Portillo'S Inc. (PTLO) reported $710.6M in total revenue for fiscal year 2024. This represents a 4.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Portillo'S Inc.'s revenue growing?

Portillo'S Inc. (PTLO) revenue grew by 4.5% year-over-year, from $679.9M to $710.6M in fiscal year 2024.

Is Portillo'S Inc. profitable?

Yes, Portillo'S Inc. (PTLO) reported a net income of $29.5M in fiscal year 2024, with a net profit margin of 4.2%.

What is Portillo'S Inc.'s earnings per share (EPS)?

Portillo'S Inc. (PTLO) reported diluted earnings per share of $0.46 for fiscal year 2024. This represents a 43.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Portillo'S Inc.'s EBITDA?

Portillo'S Inc. (PTLO) had EBITDA of $85.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Portillo'S Inc. have?

As of fiscal year 2024, Portillo'S Inc. (PTLO) had $22.9M in cash and equivalents against $275.4M in long-term debt.

What is Portillo'S Inc.'s operating margin?

Portillo'S Inc. (PTLO) had an operating margin of 8.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Portillo'S Inc.'s net profit margin?

Portillo'S Inc. (PTLO) had a net profit margin of 4.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Portillo'S Inc.'s return on equity (ROE)?

Portillo'S Inc. (PTLO) has a return on equity of 7.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Portillo'S Inc.'s free cash flow?

Portillo'S Inc. (PTLO) generated $9.8M in free cash flow during fiscal year 2024. This represents a 157.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Portillo'S Inc.'s operating cash flow?

Portillo'S Inc. (PTLO) generated $98.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Portillo'S Inc.'s total assets?

Portillo'S Inc. (PTLO) had $1.5B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Portillo'S Inc.'s capital expenditures?

Portillo'S Inc. (PTLO) invested $88.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Portillo'S Inc.'s current ratio?

Portillo'S Inc. (PTLO) had a current ratio of 0.39 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Portillo'S Inc.'s debt-to-equity ratio?

Portillo'S Inc. (PTLO) had a debt-to-equity ratio of 0.69 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Portillo'S Inc.'s return on assets (ROA)?

Portillo'S Inc. (PTLO) had a return on assets of 2.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Portillo'S Inc.'s Altman Z-Score?

Portillo'S Inc. (PTLO) has an Altman Z-Score of 0.81, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Portillo'S Inc.'s Piotroski F-Score?

Portillo'S Inc. (PTLO) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Portillo'S Inc.'s earnings high quality?

Portillo'S Inc. (PTLO) has an earnings quality ratio of 3.32x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Portillo'S Inc. cover its interest payments?

Portillo'S Inc. (PTLO) has an interest coverage ratio of 2.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Portillo'S Inc.?

Portillo'S Inc. (PTLO) scores 34 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.