NDLSNasdaqRetail-Eating PlacesFiscal year ends December 29
NOODLES & Co
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 24, 2026
$13.84−0.13 (-0.93%)
Close on Oct 19, 2026
- Market cap
- $82.03M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
-6.4%−1.3 pts over 5 years
Net margin
-8.6%−2.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +0.4% | -1.0% | +4.7% | +0.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -119.9% | -58.0% | 167.3% | |
| Return on assets | -31.9% | -6.4% | -14.5% | |
| Current ratio | 0.53 | 0.41 | 0.31 | |
| Debt to equity | 3.28 | 1.42 | -2.40 | |
| Net debt to EBITDA | -2.10× | 20.38× | -23.67× | |
| Interest coverage | -23.2× | -6.4× | -2.9× | |
| Inventory turnover | 12.0× | – | – | |
| Capex to revenue | 8.9% | 3.0% | 2.5% | |
| Diluted shares | 3M | 6M | 6M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Noodles generated $88.06M from operations and spent $150.85M on capital expenditure, dividends and share buybacks. 97% of that went back into the business.
Generated
$88.06M
Used
$150.85M
Capital expenditure$145.87M97%Dividends$00%Share buybacks$4.98M3%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-8.6%
×Asset turnover1.69×
×Equity multiplier-11.52×
=Return on equity, FY2025167.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -8.6% | 1.69× | -11.52× | 167.3% |
| FY2024 | -7.3% | 1.42× | 32.10× | -335.6% |
| FY2023 | -2.0% | 1.41× | 10.87× | -30.1% |
| FY2022 | -0.7% | 1.49× | 9.02× | -8.7% |
| FY2021 | 0.8% | 1.37× | 10.32× | 10.9% |
| FY2020 | -5.9% | 1.08× | 9.12× | -58.0% |
| FY2019 | 0.4% | 1.68× | 5.33× | 3.2% |
| FY2018 | -1.8% | 2.56× | 4.03× | -19.1% |
| FY2017 | -8.2% | 2.31× | 6.40× | -121.5% |
| FY2016 | -14.7% | 2.17× | 3.76× | -119.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$42.57M
- Cash generatingOperating cash flow above zero$7.28M
- Return on assets improvedROA up on the prior year-9.8% → -13.1%
- Earnings backed by cashOperating cash flow above net income$7.28M vs -$42.57M
- Less leverageLong-term debt to assets fell31.0% → 41.6%
- Better liquidityCurrent ratio rose0.31 → 0.31
- No dilutionShare count did not rise6M → 6M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.34 → 1.53