What is Portillo's Inc.'s work in process?

Portillo's Inc. (PTLO) reported work in process of $126K in Q1 2026.

How has Portillo's Inc.'s work in process changed year-over-year?

Portillo's Inc.'s work in process decreased by 29.6% year-over-year, from $179K to $126K.

What is the long-term trend for Portillo's Inc.'s work in process?

Over 5 years (2020 to 2025), Portillo's Inc.'s work in process has grown at a 6.9% compound annual growth rate (CAGR), from $112K to $156K.

What does work in process mean?

Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.

Portillo's Inc. PTLO Work in process

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Other financials

Income statement

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Revenue$182.6M+3.5%

Gross profit$102.4M+16.1%

Operating income$4.5M-56.7%

Net income-$402.0K-112%

EPS (diluted)-$0.01-120%

Balance sheet

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Cash & equivalents$24.0M+85.5%

Total debt$682.3M+12.4%

Total equity$471.0M+15.7%

Total assets$1.6B+7.9%

Cash flow

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Operating cash flow$17.6M+85.8%

CapEx$18.5M-3.0%

Free cash flow-$907.0K+90.5%

Valuation

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Market cap$318.48M-55.9%

Enterprise value$976.82M-25.8%

P/E20.4×-5.2×

P/S0.4×-0.6×

Profitability

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Gross margin65.2%-2.5pp

Operating margin5.1%-3.0pp

Net margin2.1%-1.8pp

FCF margin0.3%—

Returns & leverage

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Return on equity3.6%-3.8pp

Debt / equity1.4×0.0×

Current ratio0.3×0.0×

Where this comes from

Reported directly by Portillo's Inc. in its filing.

Tagged under the XBRL concept us-gaap:InventoryWorkInProcessNetOfReserves.

The official record: Portillo's Inc.’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Portillo's Inc.'s work in process?: Portillo's Inc. (PTLO) reported work in process of $126K in Q1 2026.
How has Portillo's Inc.'s work in process changed year-over-year?: Portillo's Inc.'s work in process decreased by 29.6% year-over-year, from $179K to $126K.
What is the long-term trend for Portillo's Inc.'s work in process?: Over 5 years (2020 to 2025), Portillo's Inc.'s work in process has grown at a 6.9% compound annual growth rate (CAGR), from $112K to $156K.
What does work in process mean?: Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.