El Pollo Loco Holdings, Inc.
LOCO Consumer Cyclical Restaurants
El Pollo Loco Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $490.0 million, up 3.60% from fiscal 2024. In the quarter to June 2026, revenue grew 2.97%, EPS grew 79.2%, free cash flow grew 155.5% and total debt fell 55.5%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
Follow LOCO
El Pollo Loco Holdings, Inc. (LOCO) Beneish M-score
El Pollo Loco Holdings, Inc.'s Beneish M-score for fiscal 2025 is −2.52; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.52 | 0.20 |
| FY2024 | −2.72 | 0.04 |
| FY2023 | −2.76 | 0.00 |
| FY2022 | −2.76 | (0.35) |
| FY2021 | −2.41 | 0.08 |
| FY2020 | −2.49 | 0.00 |
| FY2019 | −2.49 | 0.39 |
| FY2018 | −2.88 | 0.05 |
| FY2017 | −2.93 | (0.29) |
| FY2016 | −2.64 | 0.06 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.09 | — | 1.00 | |
| Gross margin index | 0.97 | — | 0.51 | |
| Asset quality index | 0.97 | — | 0.39 | |
| Sales growth index | 1.04 | — | 0.92 | |
| Depreciation index | 1.09 | — | 0.13 | |
| SG&A index | 1.05 | — | −0.18 | |
| Total accruals to total assets | (0.04) | — | −0.17 | |
| Leverage index | 0.87 | — | −0.28 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.52 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| PZZA Papa John's International, Inc. compare | −3.1× |
| HDL Super Hi International Holding Ltd. Unsponsored ADR compare | −2.8× |
| BRCB Black Rock Coffee Bar, Inc. compare | −2.6× |
| DIN DINE BRANDS GLOBAL, INC. compare | −2.6× |
| PTLO Portillo's Inc. compare | −2.5× |
| LOCO El Pollo Loco Holdings, Inc. | −2.5× |
| KRUS Kura Sushi USA, Inc. compare | −2.3× |
| NATH Nathan's Famous, Inc. compare | −2.0× |
| BH.A Biglari Holdings Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI