The company's financial position appears vulnerable, evidenced by a debt-to-equity ratio of 1.38 and a significant $394.3M goodwill balance relative to its $471.0M equity base.
| Total Current Assets | 51.92M | 51.52M | 52.65M | 41.92M | 65.33M | 59.02M | 54.63M | 32.69M |
| Cash & Short-Term Investments | 23.99M | 19.96M | 22.88M | 10.44M | 44.43M | 39.26M | 41.43M | 22.42M |
| Cash Only | 23.99M | 19.96M | 22.88M | 10.44M | 44.43M | 39.26M | 41.43M | 22.42M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 13.14M | 24.41M | 14.79M | 14.18M | 8.59M | 7.84M | 5.2M | 3.66M |
| Days Sales Outstanding | 9.16 | 12.17 | 7.6 | 7.61 | 5.34 | 5.35 | 4.17 | 2.79 |
| Inventory | 7.67M | 8.21M | 7.92M | 8.73M | 7.39M | 6.08M | 5.08M | 3.9M |
| Days Inventory Outstanding | 6.13 | 6.76 | 6.83 | 7.88 | 7.52 | 7.26 | 7.17 | 5.02 |
| Other Current Assets | 0 | -7.91M | 0 | 0 | 0 | 0 | 0 | 2.7M |
| Total Non-Current Assets | 1.57B | 1.56B | 1.45B | 1.34B | 1.21B | 940.56M | 855.6M | 853.95M |
| Property, Plant & Equipment | 693.4M | 681.35M | 581.37M | 489.62M | 393.84M | 190.83M | 174.77M | 165.1M |
| Fixed Asset Turnover | 1.11x | 1.07x | 1.22x | 1.39x | 1.49x | 2.80x | 2.61x | 2.90x |
| Goodwill | 394.3M | 394.3M | 394.3M | 394.3M | 394.3M | 394.3M | 394.3M | 394.3M |
| Intangible Assets | 244.44M | 23.39M | 250.02M | 252.84M | 255.72M | 259.76M | 266.18M | 274.95M |
| Long-Term Investments | 62.56M | 15.7M | 16.06M | 16.68M | 16.27M | 16.17M | 16.02M | 15.86M |
| Other Non-Current Assets | 6.68M | 229.02M | 8.28M | 5.49M | 4.12M | 5.04M | 4.33M | 3.74M |
| Total Assets | 1.62B | 1.61B | 1.5B | 1.39B | 1.28B | 999.57M | 910.22M | 886.64M |
| Asset Turnover | 0.46x | 0.46x | 0.47x | 0.49x | 0.46x | 0.54x | 0.50x | 0.54x |
| Asset Growth % | 31.08% | 7.1% | 8.27% | 8.24% | 28.06% | 9.82% | 2.66% | - |
| Total Current Liabilities | 199.93M | 193.96M | 135.57M | 104.91M | 77.3M | 66.94M | 66.35M | 69.94M |
| Accounts Payable | 39.06M | 43.21M | 45.52M | 33.19M | 30.27M | 27.25M | 21.43M | 15.88M |
| Days Payables Outstanding | 30.35 | 35.57 | 39.3 | 29.93 | 30.81 | 32.55 | 30.26 | 20.46 |
| Short-Term Debt | 117.17M | 103.13M | 36.25M | 22.5M | 4.16M | 3.32M | 3.32M | 18.32M |
| Deferred Revenue (Current) | 22.38M | 7.47M | 7.03M | 7.18M | 7.29M | 6.89M | 6.77M | 0 |
| Other Current Liabilities | 36.85M | 40.15M | 15.34M | 18.45M | 0 | 0 | 0 | 5.99M |
| Current Ratio | 0.26x | 0.27x | 0.39x | 0.40x | 0.85x | 0.88x | 0.82x | 0.47x |
| Quick Ratio | 0.22x | 0.22x | 0.33x | 0.32x | 0.75x | 0.79x | 0.75x | 0.41x |
| Cash Conversion Cycle | -15.07 | -16.64 | -24.86 | -14.44 | -17.95 | -19.94 | -18.92 | -12.65 |
| Total Non-Current Liabilities | 917.65M | 915.3M | 874.41M | 820.52M | 769.88M | 509.23M | 703.16M | 488.92M |
| Long-Term Debt | 236.59M | 567.17M | 275.42M | 283.92M | 314.43M | 315.83M | 466.38M | 465.84M |
| Capital Lease Obligations | 1.3B | 329.19M | 278.54M | 238.41M | 200.17M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 346.23M | 18.95M | 320.45M | 298.18M | 255.29M | 193.4M | 236.78M | 23.08M |
| Total Liabilities | 1.12B | 1.11B | 1.01B | 925.43M | 847.18M | 576.17M | 769.51M | 558.86M |
| Total Debt | 688.58M | 999.49M | 596.23M | 550.41M | 523.6M | 319.15M | 469.7M | 484.17M |
| Net Debt | 664.59M | 979.52M | 573.35M | 539.98M | 479.17M | 279.89M | 428.27M | 461.74M |
| Debt / Equity | 1.38x | 2.01x | 1.22x | 1.20x | 1.21x | 0.75x | 3.34x | 1.48x |
| Debt / EBITDA | 9.21x | 12.44x | 6.99x | 6.90x | 8.42x | 5.99x | 5.74x | 6.61x |
| Net Debt / EBITDA | 8.89x | 12.20x | 6.72x | 6.77x | 7.71x | 5.25x | 5.23x | 6.30x |
| Interest Coverage | 1.78x | 2.06x | 2.63x | 2.02x | 1.69x | 0.57x | 1.27x | 1.13x |
| Total Equity | 500.25M | 497.27M | 490.1M | 460.11M | 432.9M | 423.41M | 140.71M | 327.78M |
| Equity Growth % | 9.81% | 1.46% | 6.52% | 6.29% | 2.24% | 200.91% | -57.07% | - |
| Book Value per Share | 6.94 | 7.00 | 7.66 | 8.03 | 10.13 | 11.82 | 4.19 | 9.76 |
| Total Shareholders' Equity | 470.95M | 467.8M | 401.06M | 322.38M | 256.34M | 171.26M | 140.71M | 327.78M |
| Common Stock | 722K | 720K | 637K | 555K | 484K | 358K | 0 | 0 |
| Retained Earnings | 62.07M | 62.47M | 43.13M | 13.61M | -4.81M | -15.95M | 0 | 56.08M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -749K |
| Minority Interest | 29.3M | 29.48M | 89.04M | 137.73M | 176.56M | 252.14M | 0 | 0 |
Liquidity and leverage constraints
As reported in recent financial statements, PTLO's current ratio has languished at 0.26 in 2026Q1, indicating that the company maintains a minimal liquidity buffer relative to its short-term obligations, which warrants close monitoring given the ongoing capital-intensive expansion strategy and the volatility of its operating cash flows.
The consistently low current ratio suggests that the company relies heavily on continuous operational cash inflows or external financing to meet immediate liabilities. This lack of a meaningful liquidity cushion leaves the business highly susceptible to even minor disruptions in store-level performance or unexpected spikes in commodity costs.
Based on the company's reported figures, total debt surged to $688.6M in 2026Q1, with the debt-to-equity ratio fluctuating significantly to 1.38, highlighting a reliance on debt financing to fund the large-format real estate footprints that are central to the brand's high-volume, multi-station kitchen operational model.
The volatility in the debt-to-equity ratio, which spiked to 2.01 in 2025Q4, suggests that management is actively utilizing leverage to bridge the gap between capital expenditure requirements and internal cash generation. Investors should consider whether this debt load remains sustainable if the company's unit-led growth strategy fails to deliver the expected returns on invested capital.
According to quarterly balance sheet data, net property, plant, and equipment has grown to $693.4M as of 2026Q1, representing a substantial portion of the $1.6B total asset base and underscoring the company's asset-heavy business model that requires significant ongoing investment to maintain its complex kitchen infrastructure.
The concentration of assets in PPE reflects the high-cost nature of the company's large-format restaurant sites, which are essential for maintaining the throughput required for its high AUVs. This asset structure creates a high fixed-cost burden that may limit the company's flexibility during periods of declining consumer demand or inflationary pressure.
As indicated by the provided financial data, the company's reliance on significant goodwill of $394.3M, combined with a thin equity base of $471.0M, suggests that the balance sheet may be sensitive to potential impairment risks if new unit performance fails to meet long-term growth expectations.
The presence of substantial goodwill relative to total equity warrants further investigation into the underlying assumptions of the company's expansion strategy. If the brand's portability into new markets proves less successful than anticipated, the carrying value of these intangible assets could face downward pressure, negatively impacting the company's reported equity position.
Quick answers to the most common questions about buying PTLO stock.
As of 2025, Portillo's Inc. (PTLO) had total assets of $1.61B including $51.5M in current assets.
Portillo's Inc. (PTLO) carries total debt of $999.5M, offset by $20.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Portillo's Inc. (PTLO) has total shareholders' equity (book value) of $467.8M ($7.00 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Portillo's Inc. (PTLO) reported a current ratio of 0.27x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.