Portillo's Inc.
For the period ended Sep 28, 2025. Filed Nov 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 28, 2025 · Filed Nov 4, 2025
PTLO$6.98+1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
| September 28, 2025 | December 29, 2024 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents and restricted cash | $17,234 | $22,876 |
| Accounts and tenant improvement receivables | 18,850 | 14,794 |
| Inventories | 9,225 | 7,915 |
| Prepaid expenses | 4,786 | 7,066 |
| Total current assets | 50,095 | 52,651 |
| Property and equipment, net | 407,252 | 358,975 |
| Operating lease assets | 259,468 | 222,390 |
| Goodwill | 394,298 | 394,298 |
| Trade names | 221,725 | 223,925 |
| Other intangible assets, net | 24,068 | 26,098 |
| Equity method investment | 15,701 | 16,056 |
| Deferred tax assets | 210,298 | 197,409 |
| Other assets | 7,637 | 8,284 |
| Total other assets | 873,727 | 866,070 |
| TOTAL ASSETS | $1,590,542 | $1,500,086 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $48,470 | $45,516 |
| Current portion of long-term debt | 6,250 | 11,250 |
| Current portion of Tax Receivable Agreement liability | 7,766 | 7,686 |
| Short-term debt | 77,000 | 25,000 |
| Deferred revenue | 4,394 | 7,032 |
| Short-term operating lease liabilities | 6,301 | 6,013 |
| Accrued expenses | 37,123 | 33,072 |
| Total current liabilities | 187,304 | 135,569 |
| LONG-TERM LIABILITIES: | ||
| Long-term debt, net of current portion | 239,368 | 275,422 |
| Tax Receivable Agreement liability | 345,480 | 316,893 |
| Long-term operating lease liabilities | 326,391 | 278,540 |
| Other long-term liabilities | 3,599 | 3,559 |
| Total long-term liabilities | 914,838 | 874,414 |
| Total liabilities | 1,102,142 | 1,009,983 |
| COMMITMENTS AND CONTINGENCIES (NOTE 13) | ||
| STOCKHOLDERS' EQUITY: | ||
| Preferred stock, $0.01 par value per share, 10,000,000 shares authorized, none issued or outstanding | — | — |
| Class A common stock, $0.01 par value per share, 380,000,000 shares authorized, and 71,924,160 and 63,674,579 shares issued and outstanding at September 28, 2025 and December 29, 2024 , respectively. | 719 | 637 |
| Class B common stock, $0.00001 par value per share, 50,000,000 shares authorized, and 3,442,335 and 10,732,800 shares issued and outstanding at September 28, 2025 and December 29, 2024, respectively. | — | — |
| Additional paid-in-capital | 402,343 | 357,295 |
| Retained earnings | 56,360 | 43,129 |
| Total stockholders' equity attributable to Portillo's Inc. | 459,422 | 401,061 |
| Non-controlling interest | 28,978 | 89,042 |
| Total stockholders' equity | 488,400 | 490,103 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $1,590,542 | $1,500,086 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.