Filing Flows › Portillo's (PTLO) › Q4 2025
Portillo's (PTLO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Portillo's (PTLO) reported revenue of $186M for the fourth quarter 2025 (Q4 2025), +0.6% from a year earlier and +2% from the quarter before. Operating margin was 5.6%, net earnings $6.1M (3.3% of revenue).
Portillo's, Q4 2025: revenue $186M (+0.6% year over year), operating margin 5.6%, net earnings $6.1M, operating cash flow $23.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $186M | +2% | +0.6% |
| Operating profit | $10.3M | +90% | -25% |
| Net earnings | $6.1M | +404% | -46% |
| Operating cash flow | $23.2M | +16% | -11% |
What changed
Revenue was $185.7M in Q4 2025, up 1% year over year and up 2% from the previous quarter.
Operating profit was $10.3M, a 5.6% margin (down 1.9 points year over year). Operating profit fell $3.5M even though revenue rose $1.1M versus a year earlier, so costs grew faster than sales. Total costs grew 3% against revenue growth of 1%. Net earnings were $6.1M, down 46% year over year. The effective tax rate was -14.5%.
Operating cash flow was $23.2M (down 11% year over year), 369% of net income including minority interests. Non-cash charges added back $7.6M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $7.1M. Capital expenditures of $32.3M exceeded it, leaving free cash flow of −$9.2M.
Questions
What was Portillo's revenue in the fourth quarter 2025?
Portillo's (PTLO) reported revenue of $186M for the fourth quarter 2025 (Q4 2025), +0.6% from a year earlier and +2% from the quarter before.
Was Portillo's profitable in the fourth quarter 2025?
Operating profit was $10.3M (5.6% of revenue) and net earnings $6.1M.
Source: Portillo's 10-K on SEC EDGAR.