Portillo's Inc. (PTLO) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PTLO SEC filings page.
Portillo's Inc. (PTLO) reported $748.8M in revenue over the twelve months to Jun 28, 2026, up 2.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Portillo’s is growing sales while 2025 exposed a more capital-hungry model: weaker margins, negative free cash flow, and tighter short-term liquidity.
The key shift is cash conversion: FY2024 operating cash flow exceeded net income by 2.8x, but the relationship weakened as profitability compressed in FY2025. Because capital expenditures reached$90.4M , FY2025 free cash flow was-$18.5M , showing reinvestment absorbed more cash than accounting earnings generated.
Operating margin reached
Leverage improved materially: debt-to-equity fell from 1.8x to 0.5x between FY2021 and FY2025. That improvement does not mean short-term flexibility: current liabilities were nearly four times current assets, leaving a 0.3x current ratio.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Portillo's Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Portillo's Inc. has an operating margin of 6.0%, meaning the company retains $6 of operating profit per $100 of revenue. This strong profitability earns a score of 66/100, reflecting efficient cost management and pricing power. This is down from 8.2% the prior year.
Portillo's Inc.'s revenue grew a modest 3.0% year-over-year to $732.1M. This slow but positive growth earns a score of 44/100.
Portillo's Inc. has elevated debt relative to equity (D/E of 0.51), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 21/100, reflecting increased financial risk.
Portillo's Inc.'s current ratio of 0.27 is below the typical benchmark, resulting in a score of 1/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Portillo's Inc. generated $71.9M in operating cash flow, capex of $90.4M consumed most of it, leaving -$18.5M in free cash flow. This results in a low score of 23/100, reflecting heavy capital investment rather than weak cash generation.
Portillo's Inc.'s ROE of 4.5% shows moderate profitability relative to equity, earning a score of 58/100. This is down from 8.8% the prior year.
Portillo's Inc. scores 0.63, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Portillo's Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Portillo's Inc. generates $3.41 in operating cash flow ($71.9M OCF vs $21.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Portillo's Inc. earns $1.91 in operating income for every $1 of interest expense ($43.7M vs $22.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Portillo's Inc. generated $199.0M in revenue in Q2 2026. This represents an increase of 5.6% from the same quarter a year earlier. Against the prior quarter it is up 8.9%.
Portillo's Inc.'s EBITDA was $22.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 10.7% from the same quarter a year earlier. Against the prior quarter it is up 77.3%.
Portillo's Inc. reported $6.9M in net income in Q2 2026. This represents a decrease of 20.2% from the same quarter a year earlier. Against the prior quarter it is up 1827.4%.
Portillo's Inc. earned $0.09 per diluted share (EPS) in Q2 2026. This represents a decrease of 25.0% from the same quarter a year earlier.
Cash & Balance Sheet
Portillo's Inc. generated $5.9M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 13.1% from the same quarter a year earlier. Against the prior quarter it is up 748.5%.
Portillo's Inc. held $21.3M in cash against $235.2M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Portillo's Inc.'s operating margin was 6.9% in Q2 2026, reflecting core business profitability. This is down 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.5 percentage points.
Portillo's Inc.'s net profit margin was 3.5% in Q2 2026, showing the share of revenue converted to profit. This is down 1.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.7 percentage points.
Portillo's Inc.'s ROE was 1.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 percentage points.
Not reported for Q2 2026.
Capital Allocation
Portillo's Inc. invested $11.7M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 16.7% from the same quarter a year earlier. Against the prior quarter it is down 36.7%.
Not reported for Q2 2026.
Not reported for Q2 2026.
PTLO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $199.0M+5.6% | $182.6M+3.5% | $185.7M+0.6% | $181.4M+1.8% | $188.5M+3.6% | $176.4M+6.4% | $184.6M-1.7% | $178.3M+6.9% |
| SG&A Expenses | $19.6M+4.1% | $20.4M+7.7% | $19.4M-4.4% | $20.0M+9.4% | $18.8M+4.8% | $18.9M+2.0% | $20.3M-5.8% | $18.3M-3.1% |
| Operating Income | $13.8M-21.4% | $4.5M-56.7% | $10.3M-25.3% | $5.4M-66.0% | $17.5M-3.2% | $10.4M+2.8% | $13.8M-4.4% | $16.0M+5.9% |
| EBITDA | $22.0M-10.7% | $12.4M-28.7% | $18.0M-12.0% | $12.7M-43.8% | $24.7M-2.2% | $17.4M+2.2% | $20.4M-2.8% | $22.7M+6.5% |
| Interest Expense | $5.7M-0.9% | $5.6M-2.1% | $5.7M-6.0% | $5.7M-12.2% | $5.7M-13.3% | $5.7M-12.0% | $6.0M-12.9% | $6.5M-1.9% |
| Income Tax | $1.8M-51.9% | -$164K-112.1% | -$795K-141.8% | -$1.2M-149.1% | $3.7M+5.2% | $1.4M+219.6% | $1.9M+632.5% | $2.5M-3.2% |
| Net Income | $6.9M-20.2% | -$402K-112.1% | $7.9M-53.3% | $1.2M-83.2% | $8.7M+34.5% | $3.3M-27.4% | $16.8M+18.6% | $7.2M+65.6% |
| EPS (Basic) | $0.10-23.1% | -$0.01-120.0% | $0.08-55.6% | $0.02-83.3% | $0.13+30.0% | $0.05-37.5% | $0.18+28.6% | $0.12+50.0% |
| EPS (Diluted) | $0.09-25.0% | -$0.01 | $0.08-52.9% | $0.02-81.8% | $0.12+20.0% | $0.05-37.5% | $0.17+30.8% | $0.11+57.1% |
| Diluted Shares (Avg) | 73M+4.7% | 72M | N/A | 74M+14.0% | 70M+8.1% | 66M+9.9% | N/A | 65M+10.4% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
PTLO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.6B+4.6% | $1.6B+7.9% | $1.6B+7.1% | $1.6B+8.1% | $1.6B+8.0% | $1.5B+5.8% | $1.5B+8.3% | $1.5B+8.4% |
| Current Assets | $49.8M-1.0% | $51.9M+24.1% | $51.5M-2.2% | $50.1M+6.7% | $50.3M+19.9% | $41.9M-1.3% | $52.7M+25.6% | $46.9M+20.0% |
| Cash & Equivalents | $21.3M+27.9% | $24.0M+85.5% | $20.0M-12.7% | $17.2M-6.9% | $16.6M+34.5% | $12.9M-1.9% | $22.9M+119.2% | $18.5M+43.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $11.1M+10.2% | $7.7M+14.9% | $8.2M+3.7% | $9.2M+11.2% | $10.1M+15.3% | $6.7M-21.6% | $7.9M-9.4% | $8.3M+29.3% |
| Accounts Receivable | N/A | N/A | $7.2M+22.1% | N/A | N/A | N/A | $5.9M-2.9% | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $394.3M0.0% | $394.3M0.0% | $394.3M0.0% | $394.3M0.0% | $394.3M0.0% | $394.3M0.0% | $394.3M0.0% | $394.3M0.0% |
| Total Liabilities | $1.1B+4.6% | $1.1B+11.3% | $1.1B+9.8% | $1.1B+10.9% | $1.1B+9.3% | $1.0B+4.1% | $1.0B+9.1% | $993.8M+9.2% |
| Current Liabilities | $188.8M+10.2% | $199.9M+20.5% | $194.0M+43.1% | $187.3M+50.7% | $171.3M+56.7% | $165.9M+42.0% | $135.6M+29.2% | $124.3M+38.1% |
| Non-Current Liabilities | $925.7M+3.5% | $917.6M+9.5% | $915.3M+4.7% | $914.8M+5.2% | $894.7M+3.4% | $838.0M-1.1% | $874.4M+6.6% | $869.5M+6.0% |
| Long-Term Debt | $235.2M-2.3% | $236.6M-2.3% | $238.0M-13.6% | $239.4M-14.2% | $240.8M-13.6% | $242.1M-14.2% | $275.4M-3.0% | $278.9M-3.0% |
| Total Equity | $480.1M+4.6% | $471.0M+15.7% | $467.8M+16.6% | $459.4M+20.1% | $458.9M+24.0% | $406.9M+12.9% | $401.1M+24.4% | $382.4M+22.6% |
| Retained Earnings | $69.0M+25.2% | $62.1M+33.7% | $62.5M+44.9% | $56.4M+76.9% | $55.1M+123.8% | $46.4M+155.5% | $43.1M+216.8% | $31.9M+447.2% |
PTLO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $17.6M-8.7% | $17.6M+85.8% | $23.2M-11.2% | $20.0M-33.9% | $19.2M-40.9% | $9.4M+4.1% | $26.1M+51.6% | $30.3M+36.2% |
| Depreciation & Amortization | $8.3M+15.7% | $7.9M+12.7% | $7.6M+16.1% | $7.3M+9.5% | $7.1M+0.4% | $7.0M+1.4% | $6.6M+0.7% | $6.7M+8.1% |
| Stock-Based Compensation | $2.6M-2.0% | $3.2M+65.6% | N/A | -$320K-109.1% | $2.7M-8.0% | $1.9M-31.0% | N/A | $3.5M-18.9% |
| Capital Expenditures | $11.7M-16.7% | $18.5M-3.0% | $32.3M+2.1% | $25.0M+10.6% | $14.0M-17.2% | $19.0M+12.4% | $31.7M+4.7% | $22.6M+11.4% |
| Free Cash Flow | $5.9M+13.1% | -$907K+90.5% | -$9.2M-64.0% | -$5.0M-164.4% | $5.2M-66.6% | -$9.6M-22.0% | -$5.6M+57.1% | $7.7M+293.7% |
| Investing Cash Flow | -$11.7M+16.8% | -$18.3M+3.9% | -$32.1M-1.4% | -$25.0M-10.6% | -$14.0M+16.9% | -$19.0M-12.4% | -$31.7M-4.7% | -$22.6M-11.6% |
| Financing Cash Flow | -$8.6M-467.5% | $4.8M+1466.0% | $11.7M+17.4% | $5.6M+458.3% | -$1.5M+90.8% | -$350K-103.3% | $9.9M-5.6% | -$1.6M+86.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
PTLO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 6.9%-2.4pp | 2.5%-3.4pp | 5.6%-1.9pp | 3.0%-6.0pp | 9.3%-0.7pp | 5.9%-0.2pp | 7.5%-0.2pp | 9.0%-0.1pp |
| Net Margin | 3.5%-1.1pp | -0.2%-2.1pp | 4.2%-4.9pp | 0.7%-3.4pp | 4.6%+1.1pp | 1.9%-0.9pp | 9.1%+1.6pp | 4.0%+1.4pp |
| Return on Equity | 1.5%-0.4pp | -0.1%-0.9pp | 1.7%-2.5pp | 0.3%-1.6pp | 1.9%+0.1pp | 0.8%-0.5pp | 4.2%-0.2pp | 1.9%+0.5pp |
| Return on Assets | 0.4%-0.1pp | 0.0%-0.2pp | 0.5%-0.6pp | 0.1%-0.4pp | 0.6%+0.1pp | 0.2%-0.1pp | 1.1%+0.1pp | 0.5%+0.2pp |
| Current Ratio | 0.260.0x | 0.260.0x | 0.27-0.1x | 0.27-0.1x | 0.29-0.1x | 0.25-0.1x | 0.390.0x | 0.38-0.1x |
| Debt-to-Equity | 0.490.0x | 0.50-0.1x | 0.51-0.2x | 0.52-0.2x | 0.52-0.2x | 0.60-0.2x | 0.69-0.2x | 0.73-0.2x |
| Asset Turnover | 0.120.0x | 0.110.0x | 0.120.0x | 0.110.0x | 0.120.0x | 0.120.0x | 0.120.0x | 0.120.0x |
| FCF Margin | 3.0%+0.2pp | -0.5%+4.9pp | -4.9%-1.9pp | -2.7%-7.1pp | 2.8%-5.8pp | -5.4%-0.7pp | -3.0%+3.9pp | 4.3%+3.1pp |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.27), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Portillo's Inc. PTLO | FY2025 | $732.1M | $21.1M | 2.9% | $253.9M | 36/100 |
| Potbelly Corporation PBPB | FY2024 | $462.6M | $40.3M | 8.7% | $518.0M | 37/100 |
| Nathan's Famous Inc NATH | FY2026 | $162.1M | $20.0M | 12.3% | $415.9M | 74/100 |
| Jack in the Box Inc. JACK | FY2025 | $1.5B | -$80.7M | -5.5% | $238.8M | 24/100 |
| Venu Holding Corporation VENU | FY2025 | $17.9M | -$44.1M | N/A | $79.1M | 48/100 |
| Dine Brands Global, Inc. DIN | FY2025 | $879.3M | $17.1M | 1.9% | $378.8M | 20/100 |
Where Portillo's Inc. Ranks
Frequently Asked Questions
What is Portillo's Inc.'s annual revenue?
Portillo's Inc. (PTLO) reported $732.1M in total revenue for fiscal year 2025. This represents a 3.0% 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 3.0% year-over-year, from $710.6M to $732.1M in fiscal year 2025.
Is Portillo's Inc. profitable?
Yes, Portillo's Inc. (PTLO) reported a net income of $21.1M in fiscal year 2025, with a net profit margin of 2.9%.
What is Portillo's Inc.'s EBITDA?
Portillo's Inc. (PTLO) had EBITDA of $72.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Portillo's Inc. have?
As of fiscal year 2025, Portillo's Inc. (PTLO) had $20.0M in cash and equivalents against $238.0M in long-term debt.
What is Portillo's Inc.'s operating margin?
Portillo's Inc. (PTLO) had an operating margin of 6.0% in fiscal year 2025, 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 2.9% in fiscal year 2025, 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 4.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Portillo's Inc.'s free cash flow?
Portillo's Inc. (PTLO) recorded an outflow of $18.5M in free cash flow during fiscal year 2025. This represents a -288.1% 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 $71.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Portillo's Inc.'s total assets?
Portillo's Inc. (PTLO) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Portillo's Inc.'s capital expenditures?
Portillo's Inc. (PTLO) invested $90.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Portillo's Inc.'s current ratio?
Portillo's Inc. (PTLO) had a current ratio of 0.27 as of fiscal year 2025, 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 0.51 as of fiscal year 2025, 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 1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Portillo's Inc.'s P/E ratio?
Portillo's Inc. (PTLO) trades at 16.3x earnings, its market capitalization divided by net income of $15.6M net income, trailing 12 months to June 28, 2026. The market capitalization is $253.9M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Portillo's Inc.'s price-to-sales ratio?
Portillo's Inc. (PTLO) trades at 0.3x sales, its market capitalization divided by revenue of $748.8M revenue, trailing 12 months to June 28, 2026. The market capitalization is $253.9M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Portillo's Inc.'s Altman Z-Score?
Portillo's Inc. (PTLO) has an Altman Z-Score of 0.63, 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 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 3.41x, 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 1.91x, meaning it can struggle to 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 36 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.