greeksoup/ stock research
Stock research / United States / NDLS · Retail-Eating Places · Nasdaq

Noodles & Co. (NDLS)

Compare with another name

Noodles & Co. (NDLS) reported revenue of $127 million for Q2 FY2026, the quarter ended 30 June 2026, up 0.5% on the same quarter a year earlier. Net income was -$4 million, and diluted earnings per share $-0.67. The figures are the company's own, from the 10-Q it filed with the SEC on 24 July 2026.

Revenue$127 millionup 0.5%
Net income-$4 million
Diluted EPS$-0.67
QuarterQ2 FY2026ended 30 June 2026

Noodles (NDLS) in brief

Noodles (NDLS) reported revenue of $495 million for fiscal 2025, the year ended 30 December 2025, up 0.4% on the year before.
Read moreNet loss was $43 million and the diluted loss per share $7.36. Revenue was $493 million in fiscal 2024, $503 million in fiscal 2023, $509 million in fiscal 2022 and $475 million in fiscal 2021. Net income in the same years was a loss of $36 million, a loss of $10 million, a loss of $3 million and $4 million. Over the twelve months to 30 June 2026, Noodles reported revenue of $496 million and net loss of $23 million. Revenue grew 4.7% a year, compounded, over the five years to fiscal 2025. Noodles had 6 million shares outstanding at the latest filed count. At 30 June 2026 it carried $104 million of debt and $1 million of cash. At the close of 30 October 2026 the market cap of Noodles was $91 million.

Ratios

From the filings

ROEn/a
ROCEn/a
Operating margin-2.6%
Net margin-4.7%
FCF margin0.8%
Interest cover-1.22
Debt to equityn/a
Cash conversionn/a
Share count, last 12 months2.8%
Sales CAGR, 3 years-1.0%
Profit CAGR, 3 yearsn/a
EPS, TTM-$4.01

At the close of 30 October 2026

Price$15.30
Market cap$91 million
Stock P/En/a
Price to bookn/a
EV / EBITDA16.31
Dividend yieldn/a
Market cap / sales0.18
52-week high$18.62
52-week low$3.89
Price, 1 year170.9%
Price CAGR, 3 years-3.5%
Price CAGR, 5 years-30.9%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Noodles & Co. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
NDLSgreeksoup.ai
Daily prices to 30 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on NDLS

Dividendsno dividend in its filings for fiscal 2011 onward
Filings22 in twelve months: 12 current reports (8-K), about 5 results of operations; 3 other events; 2 shareholder vote; 2 officer or director change; 1 change to security holders' rights
Planned insider salesno Form 144 notice in twelve months
Options tapeno listed options
13F holders38 funds reported a position for the quarter to 30 June 2026; largest Nantahala Capital Management, LLC
Insider trading0 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest138,699 shares short, 3.40 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue125115113131129136126125128124121127123122124126122123124127
Operating income5.3-4.3-6.11.91.51.8-2.2-0.32.0-4.6-4.1-11.5-4.8-7.4-6.4-14.8-6.3-4.1-0.8-1.5
Operating margin4%-4%-5%1%1%1%-2%-0%2%-4%-3%-9%-4%-6%-5%-12%-5%-3%-1%-1%
Interest expense0.60.40.40.50.70.81.01.11.21.62.02.02.12.32.62.82.82.72.62.4
Pre-tax income4.7-4.7-6.51.40.81.1-3.2-1.30.8-6.2-6.1-13.5-6.9-9.7-9.0-17.5-9.1-6.8-3.4-3.9
Tax rate1%n/an/a3%-0%7%n/an/a17%n/an/an/an/an/an/an/an/an/an/an/a
Net income4.7-4.7-6.41.30.81.0-3.1-1.30.7-6.1-6.1-13.6-6.8-9.7-9.1-17.6-9.2-6.8-3.4-4.0
Net margin4%-4%-6%1%1%1%-2%-1%1%-5%-5%-11%-6%-8%-7%-14%-7%-6%-3%-3%
Diluted EPS$0.80-$0.80-$1.12$0.24$0.16$0.16-$0.56-$0.24$0.16-$1.12-$1.12-$2.40-$1.20-$1.68-$1.60-$3.04-$1.60-$1.16-$0.58-$0.67
Operating cash flow6.76.3-6.112.11.81.77.23.216.90.27.04.75.8-10.04.0-0.95.2-1.16.03.3
Capital expenditure5.55.88.48.35.811.310.413.512.815.38.69.27.13.82.93.43.72.32.11.5
Free cash flow1.20.5-14.53.8-4.0-9.6-3.2-10.34.1-15.2-1.6-4.5-1.3-13.81.1-4.31.4-3.43.91.8
Shares outstanding6m6m6m6m6m6m6m6m6m6m6m6m6m6m6m6m6m6m6m6m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 15 fiscal years and the trailing twelve months

FY2011FY2012FY2013FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue256300351404455487456458462394475509503493495496
Cost of revenuen/an/an/an/an/a131121121117n/an/an/an/an/an/an/a
Gross profitn/an/an/an/an/a357335337345n/an/an/an/an/an/an/a
Gross marginn/an/an/an/an/a73.2%73.4%73.5%74.7%n/an/an/an/an/an/an/a
Operating income12.016.114.318.9-21.1-67.5-33.9-3.85.4-20.05.8-0.8-5.0-27.8-31.6-12.8
Operating margin4.7%5.3%4.1%4.7%-4.6%-13.9%-7.4%-0.8%1.2%-5.1%1.2%-0.2%-1.0%-5.6%-6.4%-2.6%
Interest expense6.15.02.20.41.42.93.84.32.93.12.12.44.88.410.910.5
Pre-tax income5.68.411.418.6-22.5-70.4-37.7-8.71.8-23.23.7-3.3-9.8-36.2-42.5-23.3
Income tax1.83.24.87.1-8.71.2-0.2-0.20.10.10.10.00.00.10.10.0
Effective tax rate31.7%38.4%41.7%38.4%n/an/an/an/a5.9%n/a1.9%n/an/an/an/an/a
Net income3.85.26.711.4-13.8-71.7-37.5-8.41.6-23.33.7-3.3-9.9-36.2-42.6-23.3
Net margin1.5%1.7%1.9%2.8%-3.0%-14.7%-8.2%-1.8%0.4%-5.9%0.8%-0.7%-2.0%-7.3%-8.6%-4.7%
Diluted EPS$1.28$1.76$1.92$2.96-$3.84-$20.64-$9.60-$1.60$0.32-$4.24$0.64-$0.56-$1.68-$6.40-$7.36-$4.01
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service FY2024 to FY2025

FY2024FY2024FY2025Share
of the parts, latest year
Restaurant revenue49348348598.0%
Franchising royalties and fees, and other10.810.210.02.0%
Restaurant revenueFranchising royalties and fees, and other
503FY2024493FY2024495FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2011FY2012FY2013FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow27.932.143.649.044.524.74.15.330.19.136.29.627.57.67.313.4
Capital expenditure30.047.454.456.450.143.320.814.317.411.818.833.952.028.812.49.7
Free cash flow-2.1-15.3-10.8-7.3-5.6-18.6-16.7-9.012.7-2.717.4-24.3-24.5-21.2-5.13.8
Free cash flow margin-0.8%-5.1%-3.1%-1.8%-1.2%-3.8%-3.7%-2.0%2.7%-0.7%3.7%-4.8%-4.9%-4.3%-1.0%0.8%
Cash from investing-30.0-47.4-54.4-72.1-50.7-42.8-20.8-13.8-18.4-10.9-18.4-32.3-51.8-26.7-12.4-9.7
Cash from financing-10.715.411.224.06.417.918.39.8-5.8-0.8-23.422.025.817.35.2-4.7
Depreciation and amortisation14.516.720.624.827.828.124.622.922.121.722.323.326.829.127.024.7
Share-based compensation1.31.24.21.31.52.31.53.02.42.54.14.34.23.63.03.4
Buybacksn/an/an/an/an/an/an/an/an/an/a0.00.05.00.00.0n/a
Diluted shares, weighted3m3m3m4m4m3m5m5m6m6m6m6m6m6m6m6m
Shares outstanding at period endn/a3m4m4m4m3m5m5m6m6m6m6m6m6m6m6m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2011FY2012FY2013FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity5.010.412414093.825.835.952.750.629.737.638.427.2-5.6-45.3-51.0
Redeemable equity2.63.60.00.00.00.00.0n/an/an/an/an/an/an/an/an/a
Debtn/a94.56.327.167.785.457.646.642.642.121.046.180.2101109104
Operating lease liabilitiesn/an/an/an/an/an/an/a0.0225210200187186157127112
Finance lease liabilitiesn/an/an/an/an/an/an/an/a0.36.14.73.51.52.05.03.7
Other liabilitiesn/a48.557.071.778.598.291.772.860.065.378.068.673.070.766.366.6
Total liabilities and equityn/a157188239240209185172379354341344368325262236
Owned
Fixed assetsn/a13616820620417415313912912311912915213710794.4
Goodwilln/a0.00.06.46.46.46.46.47.27.27.27.27.27.27.27.2
Intangible assetsn/an/a0.41.91.81.71.61.30.90.80.70.60.50.50.40.4
Cash and equivalents0.50.61.01.91.91.83.44.710.57.82.31.53.01.11.31.3
Receivablesn/a4.64.24.65.05.42.42.43.53.44.06.45.14.14.14.8
Inventoryn/a6.07.29.410.511.39.99.69.99.69.410.010.310.510.29.3
Other assetsn/a9.57.49.110.69.39.08.9218202199189190164131118
Total assetsn/a157188239240209185172379354341344368325262236
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded0.8%4.7%-1.0%0.2%
Profit growth, compoundedn/an/an/an/a
Return on equity, averagen/an/an/an/a
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Noodles' revenue in fiscal 2025?

Noodles (NDLS) reported revenue of $495 million for fiscal 2025, the year ended 30 December 2025, up 0.4% on the year before.

How much did Noodles earn in fiscal 2025?

Net loss was $43 million for fiscal 2025, and the diluted loss per share $7.36.

What is Noodles' market cap?

The market cap of Noodles was $91 million at the close of 30 October 2026.

How much debt does Noodles have?

At 30 June 2026 Noodles carried $104 million of debt and $1 million of cash.

Peers: Restaurants, Hotels, Motels

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
McDonald's Corp. MCD$182.6 billion20.97n/a46.2%6.3%n/a2.8%
Yum! Brands, Inc. YUM$42.4 billion19.54n/a31.0%10.3%n/a1.9%
Chipotle Mexican Grill Inc. CMG$40.3 billion29.7956.1%14.1%7.9%0.00n/a
Restaurant Brands International Inc. QSR$25.2 billion16.8838.1%27.0%5.5%3.363.5%
Darden Restaurants Inc. DRI$24.9 billion21.5157.2%11.7%8.1%1.262.8%
Yum China Holdings, Inc. YUMC$15.8 billion16.7718.2%11.1%8.8%0.012.3%
Aramark ARMK$14.2 billion37.7211.3%4.4%11.0%1.810.9%
Texas Roadhouse, Inc. TXRH$12.0 billion29.2126.5%7.7%9.9%0.031.6%
Brinker International, Inc. EAT$8.9 billion18.67125.2%11.0%6.1%1.13n/a
Cava Group, Inc. CAVA$6.9 billion106.797.9%5.2%26.8%0.00n/a
Cheesecake Factory Inc. CAKE$5.6 billion30.5334.4%5.3%5.7%1.081.0%
Wingstop Inc. WING$4.1 billion35.14n/a27.7%6.9%n/a0.8%
All 56 in Restaurants, Hotels, Motels
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
McDonald's Corp. MCD$182.6 billion20.97n/a46.2%6.3%n/a2.8%
Starbucks Corp. SBUX$118.2 billion59.57n/a7.8%4.5%n/a2.4%
Marriott International Inc. MAR$104.2 billion41.41n/a15.8%4.7%n/a0.7%
Hilton Worldwide Holdings Inc. HLT$79.6 billion48.23n/a24.0%8.1%n/a0.2%
Yum! Brands, Inc. YUM$42.4 billion19.54n/a31.0%10.3%n/a1.9%
Chipotle Mexican Grill Inc. CMG$40.3 billion29.7956.1%14.1%7.9%0.00n/a
InterContinental Hotels Group PLC IHG *$25.5 billion34.52n/a23.1%5.4%n/a1.1%
Restaurant Brands International Inc. QSR$25.2 billion16.8838.1%27.0%5.5%3.363.5%
Darden Restaurants Inc. DRI$24.9 billion21.5157.2%11.7%8.1%1.262.8%
Las Vegas Sands Corp. LVS$23.2 billion15.15n/a20.9%10.9%n/a3.1%
Hyatt Hotels Corp. H$16.9 billion93.615.8%n/a2.8%1.390.3%
Yum China Holdings, Inc. YUMC$15.8 billion16.7718.2%11.1%8.8%0.012.3%
Aramark ARMK$14.2 billion37.7211.3%4.4%11.0%1.810.9%
Texas Roadhouse, Inc. TXRH$12.0 billion29.2126.5%7.7%9.9%0.031.6%
Brinker International, Inc. EAT$8.9 billion18.67125.2%11.0%6.1%1.13n/a
Wynn Resorts Ltd. WYNN$7.7 billion18.53n/a15.7%6.4%n/a1.3%
MGM Resorts International MGM$7.5 billion11.3827.7%7.0%2.6%2.26n/a
Dutch Bros Inc. BROS$7.5 billion59.5311.6%9.6%29.6%0.25n/a
Cava Group, Inc. CAVA$6.9 billion106.797.9%5.2%26.8%0.00n/a
Caesars Entertainment, Inc. CZR$5.9 billionn/a-16.3%15.4%3.1%3.56n/a
Cheesecake Factory Inc. CAKE$5.6 billion30.5334.4%5.3%5.7%1.081.0%
Wyndham Hotels & Resorts, Inc. WH$5.5 billion27.9542.5%29.2%0.8%5.742.3%
Boyd Gaming Corp. BYD$5.2 billion11.0020.5%17.8%0.3%1.091.1%
Red Rock Resorts, Inc. RRR$5.2 billion17.3698.7%27.7%0.9%20.93n/a
Choice Hotels International Inc. CHH$5.0 billion15.70230.9%25.2%2.6%14.081.0%
Travel & Leisure Co. TNL$4.3 billion19.26n/a13.0%4.6%n/a3.3%
Wingstop Inc. WING$4.1 billion35.14n/a27.7%6.9%n/a0.8%
Park Hotels & Resorts Inc. PK$3.3 billionn/a-5.3%2.0%-1.4%1.276.0%
Shake Shack Inc. SHAK$3.0 billion74.967.3%3.6%17.3%0.46n/a
Hilton Grand Vacations Inc. HGV$2.9 billion7.4131.9%15.0%18.8%5.95n/a
Sunstone Hotel Investors, Inc. SHO$2.4 billion58.092.2%9.1%7.3%0.522.8%
Penn Entertainment, Inc. PENN$2.1 billionn/a-48.7%-7.9%6.1%1.51n/a
Monarch Casino & Resort Inc. MCRI$1.9 billion17.5120.2%25.5%4.8%0.001.1%
Xenia Hotels & Resorts, Inc. XHR$1.9 billionn/a-0.7%6.7%1.6%1.222.7%
Cracker Barrel Old Country Store, Inc. CBRL$1.6 billion49.976.6%-0.4%-4.7%0.711.4%
Wendy's Co. WEN$1.4 billion10.92104.6%13.6%-1.0%22.827.8%
Target Hospitality Corp. TH$1.4 billionn/a-10.2%-11.1%11.9%0.11n/a
BJs Restaurants Inc. BJRI$1.3 billion33.4910.3%2.7%3.5%0.11n/a
Jack IN THE Box Inc. JACK$1.1 billion7.53n/a13.4%-20.2%n/a6.8%
Sweetgreen, Inc. SG$1.1 billion110.652.9%-21.4%-0.6%0.00n/a
Bloomin' Brands, Inc. BLMN$906 million34.136.4%1.2%1.2%1.634.3%
First Watch Restaurant Group, Inc. FWRG$787 million44.002.8%2.1%19.3%0.46n/a
Cannae Holdings, Inc. CNNE$741 millionn/a-16.3%-28.4%-11.4%0.073.5%
Bally's Corp. BALY$660 millionn/a-118.5%-7.3%20.4%6.99n/a
Papa John's International, Inc. PZZA$607 million23.37n/a4.3%-5.6%n/a10.0%
Black Rock Coffee Bar, Inc. BRCB$520 million148.431.3%1.0%n/a0.58n/a
El Pollo Loco Holdings, Inc. LOCO$465 million13.0711.0%10.5%4.4%0.09n/a
Dine Brands Global, Inc. DIN$450 millionn/an/an/an/an/a3.0%
Kura Sushi Usa, Inc. KRUS$425 millionn/a-0.9%-1.4%18.4%0.00n/a
Civeo Corp. CVEO$371 millionn/a-5.3%3.0%12.6%1.48n/a
Portillo's Inc. PTLO$300 million27.002.9%4.5%2.9%0.70n/a
Dave & Buster's Entertainment, Inc. PLAY$273 millionn/a-100.8%1.7%-1.5%17.45n/a
RCI Hospitality Holdings, Inc. RICK$216 millionn/a-1.8%9.6%1.0%1.031.1%
RED Robin Gourmet Burgers Inc. RRGB$172 millionn/an/a-0.4%-3.7%n/an/a
Noodles & Co. NDLS$91 millionn/an/a-2.6%0.2%n/an/a
BT Brands, Inc. BTBD$11 millionn/a-9.3%-0.9%-11.4%0.31n/a
27 companies share its SEC industry code (Retail-Eating Places); the rest are the names nearest in size in its wider industry, Restaurants, Hotels, Motels, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202624 July 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K30 December 202526 March 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q1 July 202514 August 2025EDGAR
10-Q1 April 20258 May 2025EDGAR
10-K31 December 20247 March 2025EDGAR
10-Q1 October 20247 November 2024EDGAR
10-Q2 July 20248 August 2024EDGAR
10-Q2 April 20249 May 2024EDGAR