Pricing Log in Create free account
Saturday 17 October 2026 Export NDLS’s income statement to Excel — free account

Noodles & Company

NDLS Consumer Cyclical Restaurants

Noodles & Company’s revenue for fiscal 2025 (year ended December 2025) was $495.1 million, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 78.0%, free cash flow grew 142.2% and total debt fell 1.91%, each against the same quarter a year earlier.

14.01 0.16 +1.16%
Market cap
$82.6M
P/E
0.0×
Fwd P/E
−7.6×
Dividend yield
—
F-score
3/9
Altman Z
0.15
Beneish M
−3.47
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 39.43%

Capital & Financial Ratios $m

Market Cap 82.64
Revenue 495.69
Net Income (23.33)
Free Cash Flow 3.76
Net Debt 103.11
Current Ratio 0.29 (below 1: weak)
Debt/Equity (2.05) (negative: negative equity)
P/E ratio 0.00
Fwd P/E (7.64) (negative: loss-making)
P/S ratio 0.17
P/B ratio 0.00
Past 5Y EPS Growth —
This Y EPS Growth 94.15% (at or above 15%: strong)
Next Y EPS Growth 309.09% (at or above 15%: strong)
Next Y revenue growth (1.31%) (below 0%: weak)
Next 5Y EPS Growth 10.00%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.4×, against a ten-year median of 0.6×; over the ten years it ranged from 0.2× in 2024 to 1.5× in 2021.
P/S against its own 10 years 21.08%
10-year low 10-year high
EV/Sales against its own 10 years 26.28%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3 1 1 1
Receivables 5 4 4 5
Inventory 10 11 10 9
Other — — — —
23 20 19 19
2023 2024 2025 Q'26
Payables 17 13 17 17
ST’ Debt — — — —
Other — — — —
68 66 62 63

Compound Annual Growth %

10y 5y 3y
Sales 0.84% 4.69% (0.95%)
Cash Flow (16.56%) (4.40%) (8.66%)
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 0.00%

Revenue $m

Mar Jun Sep Dec Year
’26 124 127 — — —
’25 124 126 122 123 495
’24 121 127 123 122 493
’23 126 125 128 124 503
’22 113 131 129 136 509
’21 110 126 125 115 475
’20 100 80 106 107 394
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 6 3 — — —
’25 4 (1) 5 (1) 7
’24 7 5 6 (10) 8
’23 7 3 17 0 27
’22 (6) 12 2 2 10
’21 4 19 7 6 36
’20 (1) 7 2 1 9
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 4 2 — — —
’25 1 (4) 1 (3) (5)
’24 (2) (4) (1) (14) (21)
’23 (3) (10) 4 (15) (25)
’22 (14) 4 (4) (10) (24)
’21 1 15 1 0 17
’20 (5) 4 (1) (1) (3)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.58) (0.67) — — —
’25 (1.60) (3.04) (1.60) (1.16) (7.36)
’24 (1.12) (2.40) (1.20) (1.68) (6.40)
’23 (0.56) (0.24) 0.12 (1.12) (1.68)
’22 (1.12) 0.24 0.16 0.16 (0.56)
’21 (0.32) 0.96 0.80 (0.80) 0.64
’20 (1.04) (2.40) (0.02) (0.72) (4.24)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 28.08 25.28 40.00 35.60 25.12 59.36 34.00 15.68 4.40 4.40

Analyst estimates 2026–2028

Powerpack
High 109.20 48.00 108.00 72.32 74.48 108.40 77.04 52.40 25.52 13.92
People
People Employees 10,900 9,600 9,400 8,900 8,400 8,000 8,100 7,600 7,300 6,500
Revenue/emp, $m 0.04 0.05 0.05 0.05 0.05 0.06 0.06 0.07 0.07 0.08
Income, $m
Income, $m Revenue 487 456 458 462 394 475 509 503 493 495
Gross margin, % 73.20 73.39 73.55 74.66 75.18 75.19 72.94 75.35 74.92 74.31
EBT (70) (38) (9) 2 (23) 4 (3) (10) (36) (43)
EBT margin, % (14.45) (8.26) (1.90) 0.38 (5.89) 0.79 (0.64) (1.95) (7.33) (8.59)
Net income (72) (37) (8) 2 (23) 4 (3) (10) (36) (43)
Depreciation 28 25 23 23 22 23 24 27 30 28
Per share, $
Per share, $ Revenue 140.24 96.72 86.53 84.00 71.13 83.57 88.77 87.81 86.79 85.55
Earnings (20.64) (9.60) (1.60) 0.32 (4.24) 0.64 (0.56) (1.68) (6.40) (7.36)
Cash flow 7.12 0.87 1.01 5.46 1.65 6.36 1.67 4.80 1.33 1.26
Capex (12.47) (4.41) (2.71) (3.10) (2.13) (3.30) (5.90) (9.08) (5.06) (2.14)
Free cash flow (5.35) (3.54) (1.70) 2.36 (0.48) 3.06 (4.24) (4.28) (3.73) (0.88)
Book value 7.43 7.60 9.96 9.19 5.37 6.62 6.68 4.74 (0.98) (7.83)
Shares, m 3 5 5 6 6 6 6 6 6 6
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 138.50 0.00 113.38 0.00 0.00 0.00 0.00
P/S 0.23 0.43 0.65 0.53 0.89 0.87 0.50 0.28 0.05 0.07
P/B 4.36 5.48 5.62 4.82 11.78 10.96 6.62 5.25 0.00 0.00
EV/Sales 0.40 0.55 0.73 0.59 0.98 0.91 0.59 0.44 0.26 0.29
EV/FCF (10.51) (14.98) (37.38) 21.12 (144.47) 24.80 (12.34) (9.03) (6.03) (27.82)
Cash, $m
Cash, $m Operating cash flow 25 4 5 30 9 36 10 27 8 7
Capex (43) (21) (14) (17) (12) (19) (34) (52) (29) (12)
Free cash flow (19) (17) (9) 13 (3) 17 (24) (25) (21) (5)
Balance, $m
Balance, $m Working capital (23) (22) (10) (29) (34) (54) (42) (45) (46) (43)
Total debt 85 58 45 41 42 21 46 80 101 109
Net debt 83 54 40 31 34 19 45 77 100 108
Shareholders’ equity 26 36 53 51 30 38 38 27 (6) (45)
Returns, %
Returns, % ROA (31.90) (23.03) (4.73) 0.60 (6.35) 1.05 (0.97) (2.77) (10.45) (14.52)
ROIC (38.84) (23.47) (2.53) 4.18 (19.58) 6.45 (0.63) (3.01) (18.47) (31.74)
ROE (119.87) (147.37) (19.07) 3.19 (57.95) 10.89 (8.72) (30.08) (335.60) 167.31
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Noodles & Company vs peers in Restaurants (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RICK RCI Hospitality Holdings, Inc. $199.9M — (loss-making) 6.6× +3.93% (above 0%: growing) +80.43% (above 0%: growing) −3.55% (below 0%: shrinking) 86.90% 17.54% Compare
RRGB Red Robin Gourmet Burgers, Inc. $172.8M — (loss-making) — (loss-making) −2.14% (below 0%: shrinking) −90.91% (below 0%: shrinking) +107.19% (above 0%: growing) 16.25% 2.25% Compare
HCHL Happy City Holdings Limited $117.9M — — — — −207.91% (below 0%: shrinking) — — Compare
BDL Flanigan's Enterprises, Inc. $92.1M 13.3× 16.1× +8.30% (above 0%: growing) +48.00% (above 0%: growing) −112.34% (below 0%: shrinking) 58.12% 7.12% Compare
NDLS Noodles & Company $82.6M — (loss-making) — (loss-making) +0.48% (above 0%: growing) n/m +142.24% (above 0%: growing) 75.58% (1.21%)
MB MasterBeef Group $76.3M — — — — −135.52% (below 0%: shrinking) — — Compare
VENU Venu Holding Corporation $65.6M — (loss-making) — (loss-making) +6.87% (above 0%: growing) n/m −285.57% (below 0%: shrinking) 19.56% (319.86%) Compare
GENK GEN Restaurant Group, Inc. $59.0M — (loss-making) — (loss-making) +1.25% (above 0%: growing) n/m +13.23% (above 0%: growing) 60.93% (9.24%) Compare
STKS The ONE Group Hospitality, Inc. $44.7M — (loss-making) — (loss-making) −3.33% (below 0%: shrinking) n/m +88.09% (above 0%: growing) 17.77% 3.27% Compare
Median of peers $84.2M — — +2.59% +48.00% −57.94% 38.84% 2.76%

All 56 Restaurants stocks →

Noodles & Company (NDLS) key facts

  • Noodles & Company (NDLS) is a Restaurants company in the Consumer Cyclical sector, listed on Nasdaq.
  • Noodles & Company’s revenue for fiscal 2025 (year ended December 2025) was $495.1 million, roughly unchanged from fiscal 2024.
  • As of October 16, 2026, NDLS traded at $14.01, a market capitalization of $82.6 million.
  • Return on equity was 167.3% and debt-to-equity -2.05.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 0.15 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Noodles & Company (NDLS) Latest News

No news at this impact. Lower the threshold for more.
stockrow.com/NDLS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com