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Portillo's Inc. (PTLO) stock

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NASDAQ: PTLO Nasdaq Restaurants Next results ~November 5, 2026

C Fundamentals grade

Portillo's Inc. is a US-listed company in the restaurants industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$2.7

Valuation models combined (3)

Base case. Range ~$2.4–$3.7. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, residual income), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Portillo's Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 0 selling3 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds83 adding, 86 cuttingOf 29 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Portillo's files

Where Portillo's stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $749m, up 2.9% on a year earlier, faster than the 2.4% growth a quarter earlier. Free-cash-flow margin held at -1.2%. Operating margin narrowed to 4.5% from 7.9%. The diluted share count is up 9.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 7 financial-health checks. Our valuation models combined value is $2.98 a share, against a share price of $4.68.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Portillo's Inc.'s trailing-twelve-month revenue grew 2.9% year on year, with a free-cash-flow margin of -1.2%. Where it stands out: days sales outstanding of 4 days ranks 5 of 25 restaurants companies we cover. Where it lags: change in share count of 9.8% ranks 39 of 42 restaurants companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 305.0% while net income fell 54.5%: a 250pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Margins narrowing. Operating margin is down 3.4 points on a year ago.
  • Burning cash. Free cash flow was -1.2% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 9.8% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 56% and a beta of 0.4 against the S&P 500.
  • Weak cash conversion. Free cash flow was -66% of net income over the last 12 months.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.14 against an average estimate of $0.09: beat by 60.2%
Revenue
$199m, up 5.6% on a year earlier
Share reaction
-3.3% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.02

Portillo's' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+6.4%
  • 1 week+21.0%
  • 1 month+47.6%
  • This year+14.1%
  • 1 year-3.2%
  • 5 years-87.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$749M
Operating margin
4.5%
Net margin
1.9%
EPS (TTM, diluted)
$0.19

Growth

Revenue growth
+2.9%
Change in growth rate
+0.5 pts
Share count change
+9.8%

Cash

Free cash flow (TTM)
-$9.2M
FCF margin
-1.2%
Stock pay % of revenue
1.0%

Earnings

Last results
August 5, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Portillo's Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Our value per share comes from a discounted-cash-flow model of Portillo's Inc.'s free cash flow after stock-based pay ( $4M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Portillo's Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.78 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.4 ~$0.1–$4.1 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$3.7 ~$3.2–$6.9 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$2.4 ~$1.4–$4.1 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity below long-run growth
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: earnings are positive: price-to-earnings is the better measure
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$2.7 ~$2.4–$3.7 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Portillo's Inc. with Restaurants in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$38.34$17.19$15.93$8.98$4.71$5.18
Market value$1.4bn$734m$913m$575m$335m$380m
+ Net debt (− = net cash)$286m$278m$311m$314m$404m$414m
Enterprise value$1.7bn$1.0bn$1.2bn$888m$739m$794m
Multiples
Price / sales 2.6x1.3x1.3x0.8x0.5x0.5x
Price / earnings —67.7x49.6x19.5x17.3x27.4x
Price / free cash flow n/m74.7x—58.3x——
EV / EBITDA 31.1x16.3x15.3x10.4x10.2x12.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

16 /100

Weak moat

How hard Portillo's's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.9% of total assets over 5 years.

  • Durability 8 / 20

    Operating margin has been a median 7.4%; its worst year was 3.4%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 1 of 5 years, at a median -0.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $193m and EPS of $0.02 (range $0.00 to $0.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.15 −73% $770m +5%
Next $0.22 +50% $798m +4%

Next year's EPS estimate has moved −15.9% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −30.5% on 90 days ago. In the last 30 days, 1 analyst raised Portillo's Inc.'s forecast and 0 cut it.

Consensus EPS forecast Portillo's Inc., last 90 days
$0.10 $0.15 $0.20 $0.25 $0.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.21 Current fiscal year, 60 days ago: $0.18 Current fiscal year, 30 days ago: $0.18 Current fiscal year, 7 days ago: $0.18 Current fiscal year, Now: $0.15 $0.15 Next fiscal year, 90 days ago: $0.26 Next fiscal year, 60 days ago: $0.23 Next fiscal year, 30 days ago: $0.23 Next fiscal year, 7 days ago: $0.22 Next fiscal year, Now: $0.22 $0.22

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.21$0.26
60 days ago $0.18$0.23
30 days ago $0.18$0.23
7 days ago $0.18$0.22
Now $0.15$0.22

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.09 $0.14 +60.2%
Mar 2026 $0.00 $0.02 +385.0%
Dec 2025 $0.06 $0.17 +182.4%
Sept 2025 $0.04 $0.14 +255.8%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Portillo's Inc.'s revenue by +4.6% next year and +4.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.7%, weight 62%) and the company's own record (+4.5%, weight 38%) . How the weights are set.

Analyst recommendations

12 analysts, Oct 2026
Buy325%
Hold975%
Sell00%

Monthly trend

  1. Oct 20263912
  2. Sep 20263912
  3. Aug 202613913
  4. Jul 202613913

Counts of recommendations published by analysts covering Portillo's Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
14.2%
of tradable shares
Days to cover
5.01
at average volume
Short interest, 1 month
−8%
to October 15, 2026
Held by institutions
67%
of shares
Held by insiders
8.0%
of shares
Employees
7,890
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −3.2%

$5.35 on October 31, 2025 to $5.18

ThenNowEffect
Revenue (last 12 months) $728m $749m +2.9%
Net margin 4.2% 1.9% −55.8%
P/E multiple 11.7x 27.4x +133.7%
Share count 67m 73m −8.9%

Biggest factor: p/e multiple.

Last 3 years −68.4%

$16.41 on November 3, 2023 to $5.18

ThenNowEffect
Revenue (last 12 months) $627m $749m +19.4%
Net margin 1.9% 1.9% −1.7%
P/E multiple 69.2x 27.4x −60.4%
Share count 50m 73m −32.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
PTLO−57%−2%−41%−52%+14%
Industry peers (median)−15%+16%+0%−8%+2%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
PTLO17%58%33%25%46%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
PTLO−61%−41%−46%−71%−46%
S&P 500−25%−10%−8%−19%−9%

Worst fall since October 21, 2021: 94% from November 17, 2021 to September 25, 2026. Getting back needed a 1451% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.50 – $6.50
From 52-week high
−20.3%
vs 50-day average
+23.3%
vs 200-day average
+7.3%
Volatility (1 year)
56%
Beta vs S&P 500
0.39

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±10.0%
After a week
5 up, 7 down
typical move ±12.1%
After a month
4 up, 8 down
typical move ±14.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −3.3% −0.4% +5.1% −2.9%
May 5, 2026 −21.5% +2.2% −29.2% −33.4%
February 24, 2026 −8.8% +1.6% −10.0% −6.4%
November 4, 2025 −3.6% −0.8% −9.9% −5.5%
August 5, 2025 −20.3% +0.3% −16.4% −28.9%
May 6, 2025 +8.7% −0.4% +18.3% +8.1%
February 25, 2025 +2.8% −0.4% +3.4% −9.5%
November 5, 2024 −3.7% +3.7% −11.1% −23.4%
August 6, 2024 +11.5% +0.2% +24.4% +34.6%
May 7, 2024 −14.6% +0.1% −14.5% −16.9%
February 27, 2024 +11.8% +0.1% +1.2% +2.2%
November 2, 2023 +9.0% +2.8% −1.3% +5.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Portillo's Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Portillo's Inc.
$600M $650M $700M $750M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $642.9M Revenue (TTM), FY23 Q4: $679.9M Revenue (TTM), FY24 Q1: $689.7M Revenue (TTM), FY24 Q2: $702.4M Revenue (TTM), FY24 Q3: $713.8M Revenue (TTM), FY24 Q4: $710.6M Revenue (TTM), FY25 Q1: $721.2M Revenue (TTM), FY25 Q2: $727.8M Revenue (TTM), FY25 Q3: $730.9M Revenue (TTM), FY25 Q4: $732.1M Revenue (TTM), FY26 Q1: $738.3M Revenue (TTM), FY26 Q2: $748.8M $748.8M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $642.9M
FY23 Q4 $679.9M
FY24 Q1 $689.7M
FY24 Q2 $702.4M
FY24 Q3 $713.8M
FY24 Q4 $710.6M
FY25 Q1 $721.2M
FY25 Q2 $727.8M
FY25 Q3 $730.9M
FY25 Q4 $732.1M
FY26 Q1 $738.3M
FY26 Q2 $748.8M
Revenue growth, TTM YoY Portillo's Inc.
0% 5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 11.8% Revenue growth, TTM YoY, FY23 Q4: 15.8% Revenue growth, TTM YoY, FY24 Q1: 13.3% Revenue growth, TTM YoY, FY24 Q2: 12.0% Revenue growth, TTM YoY, FY24 Q3: 11.0% Revenue growth, TTM YoY, FY24 Q4: 4.5% Revenue growth, TTM YoY, FY25 Q1: 4.6% Revenue growth, TTM YoY, FY25 Q2: 3.6% Revenue growth, TTM YoY, FY25 Q3: 2.4% Revenue growth, TTM YoY, FY25 Q4: 3.0% Revenue growth, TTM YoY, FY26 Q1: 2.4% Revenue growth, TTM YoY, FY26 Q2: 2.9% 2.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 11.8%
FY23 Q4 15.8%
FY24 Q1 13.3%
FY24 Q2 12.0%
FY24 Q3 11.0%
FY24 Q4 4.5%
FY25 Q1 4.6%
FY25 Q2 3.6%
FY25 Q3 2.4%
FY25 Q4 3.0%
FY26 Q1 2.4%
FY26 Q2 2.9%
Operating margin (TTM) Portillo's Inc.
4% 5% 6% 7% 8% 9% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 7.4% Operating margin (TTM), FY23 Q4: 8.2% Operating margin (TTM), FY24 Q1: 8.3% Operating margin (TTM), FY24 Q2: 8.2% Operating margin (TTM), FY24 Q3: 8.2% Operating margin (TTM), FY24 Q4: 8.2% Operating margin (TTM), FY25 Q1: 8.1% Operating margin (TTM), FY25 Q2: 7.9% Operating margin (TTM), FY25 Q3: 6.5% Operating margin (TTM), FY25 Q4: 6.0% Operating margin (TTM), FY26 Q1: 5.1% Operating margin (TTM), FY26 Q2: 4.5% 4.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 7.4%
FY23 Q4 8.2%
FY24 Q1 8.3%
FY24 Q2 8.2%
FY24 Q3 8.2%
FY24 Q4 8.2%
FY25 Q1 8.1%
FY25 Q2 7.9%
FY25 Q3 6.5%
FY25 Q4 6.0%
FY26 Q1 5.1%
FY26 Q2 4.5%
FCF margin (TTM) Portillo's Inc.
-3% -2% -1% 0% 1% 2% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -0.5% FCF margin (TTM), FY23 Q4: -2.5% FCF margin (TTM), FY24 Q1: -1.6% FCF margin (TTM), FY24 Q2: -0.5% FCF margin (TTM), FY24 Q3: 0.3% FCF margin (TTM), FY24 Q4: 1.4% FCF margin (TTM), FY25 Q1: 1.1% FCF margin (TTM), FY25 Q2: -0.3% FCF margin (TTM), FY25 Q3: -2.0% FCF margin (TTM), FY25 Q4: -2.5% FCF margin (TTM), FY26 Q1: -1.3% FCF margin (TTM), FY26 Q2: -1.2% -1.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -0.5%
FY23 Q4 -2.5%
FY24 Q1 -1.6%
FY24 Q2 -0.5%
FY24 Q3 0.3%
FY24 Q4 1.4%
FY25 Q1 1.1%
FY25 Q2 -0.3%
FY25 Q3 -2.0%
FY25 Q4 -2.5%
FY26 Q1 -1.3%
FY26 Q2 -1.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Portillo's took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $732M
  2. Selling, general and admin $77.1M · 10.5%
  3. Other operating costs $611M · 83.5%
  4. Operating income $43.7M · 6.0%
  5. Interest and other $21.3M · 2.9%
  6. Net income $19.3M · 2.6%

Shares of revenue. Source: Portillo's's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 479 455 535 587 680 711 732 749
EBITDA 73 82 53 62 80 85 73 65
Operating income 49 57 30 41 55 58 44 34
Net income −13 −8 −15 11 18 30 19 14
Diluted EPS −$0.25 −$0.16 −$0.42 $0.25 $0.32 $0.46 $0.27 $0.19
Growth (year on year)
Revenue — −5.0% +17.5% +9.7% +15.8% +4.5% +3.0% +2.9%
EBITDA — +11.7% −34.9% +16.6% +28.2% +7.0% −14.7% −23.5%
Operating income — +17.1% −47.6% +37.5% +34.3% +4.7% −24.7% −41.1%
Net income — — — — — +60.2% −34.5% −54.5%
Diluted EPS — — — — — +43.8% −41.3% −58.6%
Margins
EBITDA margin 15.3% 18.0% 10.0% 10.6% 11.7% 12.0% 9.9% 8.7%
Operating margin 10.2% 12.6% 5.6% 7.0% 8.2% 8.2% 6.0% 4.5%
Net margin −2.7% −1.8% −2.8% 1.8% 2.7% 4.2% 2.6% 1.9%
Free-cash-flow margin 4.4% 8.1% 1.3% 1.7% −2.5% 1.4% −2.5% −1.2%
Cash flow
Cash from operations 43 58 43 57 71 98 72 78
Capital spending 22 21 36 47 88 88 90 88
Free cash flow 21 37 7 10 −17 10 −19 −9
Stock-based pay 1 1 29 16 16 11 6 8
Free cash flow after stock pay 20 36 −23 −6 −33 −1 −25 −17
Balance sheet
Cash 23 41 39 44 10 23 20 21
Total debt 0 470 326 322 321 337 424 435
Net debt (negative = net cash) −23 428 286 278 311 314 404 414
Diluted shares 51m 51m 36m 43m 57m 64m 71m 73m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 28, 2026
What it owns · $1.6bn
Short-term assets $50mLonger-term assets $1.6bn
What it owes, and who funded it · $1.6bn
Short-term liabilities $189mLonger-term liabilities $926mShareholders' equity $480m
  • Short-term assets cover short-term liabilities $50m of assets due within a year against $189m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $50m short-term assets against $926m of longer-dated liabilities.
  • More cash than debt $21m of cash against $241m of debt.
  • Debt below 40% of shareholders' equity Debt is 50% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 184% to 50% over five years.
  • A year's operating cash flow covers at least 20% of debt $78m of operating cash flow against $241m of debt.
  • Operating profit covers interest at least five times over Operating income of $34m against $23m of interest.

From Portillo's Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+9.8%
year over year
Days sales outstanding
4 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in restaurants
Last 12 months unless stated PTLO WING STKS SG LOCO NDLS Median
Revenue, last 12 months $749m $730m $801m $682m $501m $496m $1.4bn
Revenue growth, last 12 months 2.9% 6.9% −4.1% −0.6% 4.4% 0.2% 4.6%
Revenue growth, 3-year average 6.1% 18.6% 34.7% 9.4% 2.0% −1.4% 5.1%
Revenue growth, latest quarter 5.6% 5.3% −3.3% 3.8% 3.0% 0.5% 4.5%
Operating margin 4.5% 27.7% 2.1% −21.4% 10.5% −2.6% 4.9%
Operating margin, 3-year average 6.9% 26.4% 1.8% −17.4% 9.3% −4.3% 6.9%
Net margin 1.9% 16.0% −10.2% 2.0% 7.0% −4.7% 2.5%
Cash from operations / revenue 10.5% 25.6% 6.5% −4.1% 14.8% 2.7% 11.9%
Free-cash-flow margin −1.2% 16.0% 0.4% −18.1% 8.2% 0.8% 3.4%
Free-cash-flow margin, 3-year average −0.7% 16.2% −3.8% −11.6% 5.9% −2.1% 2.8%
Stock pay / revenue 1.0% 2.7% 0.6% 4.3% 1.1% 0.7% 0.8%
Change in share count 9.8% −3.5% −0.7% 2.1% 1.1% −0.4% 0.2%

Median of all 44 companies we cover in restaurants. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 restaurants companies
Measure Company Peer median Rank
Revenue growth Growth 2.9% 4.7% 28 of 44
Change in growth rate Growth +0.5pp +0.3pp 21 of 44
Operating margin Profitability 4.5% 5.2% 22 of 42
Net margin Profitability 1.9% 2.6% 26 of 44
Free-cash-flow margin Cash generation -1.2% 3.6% 36 of 44
Stock pay as % of revenue Cash generation 1.0% 0.8% 27 of 40
Long-term debt as % of assets Balance sheet 14.5% 29.0% 12 of 36
Change in share count Balance sheet 9.8% 0.3% 39 of 42
Days sales outstanding Balance sheet 4 days 6 days 5 of 25

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$215M
Institutions reporting
169
Shares held vs prior quarter
▼ 12.2%
Positions opened / closed
21 / 32

Top buyers and sellers, Q2 2026: 83 institutions bought and 86 sold ; the biggest buyer was Citadel Advisors LLC (+2.6M shares) and the biggest seller Alliancebernstein L.P (−5.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $23.3M 4.9M 10.8% ▼ 4.1%
Orbis Allan Gray Ltd $19.8M 4.2M 9.2% ▼ 41.0%
Engaged Capital LLC $16.3M 3.4M 7.6% 0.0%
Citadel Advisors LLC $14.9M 3.2M 7.0% ▲ 469.5%
Vanguard Capital Management LLC $14.5M 3.1M 6.8% ▲ 0.9%
Marshall Wace, LLP $11.1M 2.3M 5.2% ▲ 38.0%
Zuckerman Investment Group, LLC $9.7M 2.0M 4.5% ▼ 0.6%
Geode Capital Management, LLC $8.6M 1.8M 4.0% ▲ 8.6%
State Street Corp $6.9M 1.5M 3.2% ▲ 12.9%
Goldman Sachs Group Inc $6.7M 1.4M 3.1% ▲ 44.0%
Blair William & Co $5.9M 1.2M 2.7% ▲ 11.6%
Millennium Management LLC $5.8M 1.2M 2.7% ▲ 97.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Portillo's Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $2.1M 3 trades by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $2.1M net buying
Insider Date Trade Shares Price Value
Lee Eugene I Jr Director August 12, 2026 Buy 65,355 $4.59 $299,979
Lee Eugene I Jr Director May 11, 2026 Buy 70,165 $4.28 $300,306
Lee Eugene I Jr Director March 13, 2026 Buy 286,000 $5.18 $1.5M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 5, 2026
  • February 24, 2026
  • November 4, 2025
  • August 5, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Portillo's Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Portillo's Inc. in brief

What does Portillo's Inc. do?
Portillo's Inc. is a US-listed company in the restaurants industry. Its financial year ends in December.
What is Portillo's Inc.'s stock ticker?
Portillo's Inc. trades under the ticker PTLO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Portillo's Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Portillo's Inc. reported revenue of $749M, 2.9% higher than a year earlier, according to its SEC filings.
What is Portillo's Inc.'s free cash flow?
Portillo's Inc.'s free-cash-flow margin is -1.2% of revenue over the trailing twelve months, ranking 36 of the 44 restaurants companies we cover.
Who are Portillo's Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Orbis Allan Gray Ltd and Engaged Capital LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Portillo's Inc.'s market cap?
On November 2, 2026, Portillo's Inc.'s market capitalisation was about $380M, with a price-to-earnings ratio of 27.4 and net debt of $414M. Market figures come from third-party market data and may be delayed.
How much debt does Portillo's Inc. have?
Portillo's Inc.'s debt-to-equity ratio is 50.3%, from its latest balance sheet (184.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Portillo's Inc.'s competitors?
In our Restaurants peer group, the companies closest to Portillo's Inc. are Wingstop Inc., ONE Group Hospitality, Inc., Sweetgreen, Inc., El Pollo Loco Holdings, Inc. and Noodles & Co. The side-by-side comparison below sets their revenue, margins and growth against Portillo's Inc.'s.
Are insiders buying or selling Portillo's Inc. stock?
Over the last 12 months, Portillo's Inc.'s directors and officers reported 3 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Portillo's Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Portillo's Inc. announces its own schedule.