Portillo's Inc.

For the period ended Dec 28, 2025. Filed Feb 24, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 24, 2026

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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Contents

Consolidated Statements of Stockholders' Equity

(In thousands, except share data)

FISCAL YEARS ENDED DECEMBER 29, 2024 and DECEMBER 31, 2023
Class A Common Stock · Class BCommon Stock
Shares · Amount · Shares · Amount · Additional Paid-In Capital · (Accumulated Deficit) Retained Earnings · Non-controlling interest · Total Equity
Balance, as of December 25, 2022	48,420,723	$484	23,837,162	$—		$260,664		$(4,812)		$176,565		$432,901
Net income	—	—	—	—		—		18,424		6,394		24,818
Equity-based compensation expense	—	—	—	—		11,522		—		4,020		15,542
Activity under equity-based compensation plans	717,416	7	—	—		953		—		—		960
Redemption of LLC Units	6,364,236	64	(6,364,236)	—		(64)		—		—		—
Non-controlling interest adjustment	—	—	—	—		48,849		—		(48,849)		—
Distributions paid to non-controlling interest holders	—	—	—	—		—		—		(399)		(399)
Establishment of liabilities under Tax Receivable Agreement and related changes to deferred tax assets associated with increases in tax basis	—	—	—		(13,712)		—		—		(13,712)
Balance, as of December 31, 2023	55,502,375	$555	17,472,926	$—		$308,212		$13,612		$137,731		$460,110
Net income	—	—	—	—		—		29,517		5,559		35,076
Equity-based compensation expense	—	—	—	—		9,257		—		1,894		11,151
Activity under equity-based compensation plans	1,432,078	15	—	—		3,452		—		—		3,467
Redemption of LLC Interests	6,740,126	67	(6,740,126)	—		(67)		—		—		—
Non-controlling interest adjustment	—	—	—	—		55,304		—		(55,304)		—
Distributions paid to non-controlling interest holders	—	—	—	—		—		—		(838)		(838)
Establishment of liabilities under Tax Receivable Agreement and related changes to deferred tax assets associated with increases in tax basis	—	—	—	—		(18,863)		—		—		(18,863)
Balance, as of December 29, 2024	63,674,579	$637	10,732,800	$—		$357,295		$43,129		$89,042		$490,103

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(In thousands, except share data)

FISCAL YEAR ENDED DECEMBER 28, 2025
Class A Common Stock · Class BCommon Stock
	Shares	Amount	Shares	Amount	Additional Paid-In Capital	Retained Earnings	Non-controlling interest	Total Equity
Balance, as of December 29, 2024	63,674,579	$637	10,732,800	$—	$357,295	$43,129	$89,042	$490,103
Net income	—	—	—	—	—	19,345	1,747	21,092
Equity-based compensation expense	—	—	—	—	5,951	—	542	6,493
Activity under equity-based compensation plans	1,006,692	10	—	—	2,177	—	—	2,187
Redemption of LLC interests	7,290,465	73	(7,290,465)	—	(73)	—	—	—
Non-controlling interest adjustment	—	—	—	—	60,914	—	(60,914)	—
Distributions paid to non-controlling interest holders	—	—	—	—	—	—	(1,291)	(1,291)
Establishment of liabilities under Tax Receivable Agreement and related changes to deferred tax assets associated with increases in tax basis	—	—	—	—	(21,661)	—	—	(21,661)
Contributions from non-controlling interests	—	—	—	—	—	—	350	350
Balance, as of December 28, 2025	71,971,736	$720	3,442,335	$—	$404,603	$62,474	$29,476	$497,273

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.