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MARKETS / NASDAQ / NDLS
NASDAQ · RETAIL-EATING PLACES · SMALL CAP

Noodles & Co. NDLS

15 fiscal years on record · USD · FY2025 reported · SEC filings only
$495.1M
▲ 0.4% YoY
$-42.6M
$-5.1M
In brief

What this company does

Noodles & Company is a restaurant concept that offers lunch and dinner within the fast-casual segment of the restaurant industry. As of December 30, 2025, it operated 423 restaurants in 31 states, which included 340 company locations and 83 franchise locations. In 2025, approximately 59% of its sales were derived from digital ordering. Its Noodles Rewards loyalty program has over 7 million members. As of December 30, 2025, it had approximately 6,500 employees, including approximately 500 salaried employees and approximately 6,000 hourly employees. None of its employees are unionized or covered by a collective bargaining agreement. It operates as a single accounting segment. Noodles & Company is a Delaware corporation that was organized in 2002.

Written from the business description in NOODLES & COMPANY's annual report to the U.S. Securities and Exchange Commission, filed 26 March 2026. Every sentence was checked against that document before publication.

Growth
USD 495.1M
Revenue, FY2025 · full 15-year series below
Revenue $M Net income $M
FY2025 · Revenue 495.1 · Net income -42.6
200.0M400.0M-25.0M-50.0M20112013201520172019202120232025
Compound annual growth
−1.0%
+4.7%
+0.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +4.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−9 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -6.4% · Net -8.6%
2%4%-5%-10%20112013201520172019202120232025
ROE
FY2024 · ROE -335.6%
20%40%60%-100%-200%-300%20112013201520172019202120232025
Gross margin—
Operating margin-6.4%
Net margin-8.6%
Return on assets-14.5%
EBITDAUSD -4.5M

Cash & shareholders
—
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -5.1
8M16M-10M-20M20112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 0.0
2M4M20212022202320242025
Dividends paid—
Net buybacksUSD 0.00
Share of profit-0.0%
Consecutive raises—

Total assetsUSD 261.7M
EquityUSD -45.3M
CashUSD 1.3M
Gross debtUSD 108.8M
Net debtUSD 107.5M
Current ratio0.31×

Equity was negative — liabilities exceeded assets. No ratio is shown.

The 15-year record
15 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011
Revenue $B0.50.50.50.50.50.40.50.50.50.50.50.40.40.30.3
Operating income $B−0.0−0.0−0.0−0.00.0−0.00.0−0.0−0.0−0.1−0.00.00.00.00.0
EBITDA $B−0.00.00.00.00.00.00.00.0−0.0−0.00.00.00.00.00.0
Income tax $B0.00.00.00.00.00.00.0−0.0−0.00.0−0.00.00.00.00.0
Net income $B−0.0−0.0−0.0−0.00.0−0.00.0−0.0−0.0−0.1−0.00.00.00.00.0
Free cash flow $B−0.0−0.0−0.0−0.00.0−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−7.36−6.37−1.72−0.070.08−0.530.04−0.20−1.20−2.58−0.480.370.240.220.16
Dividend / sh $···············
Payout %···············
ROE %·−335.6−30.1−8.710.9−58.03.2−19.1−121.5−119.9−11.88.69.967.277.3
Shares out B0.010.010.040.050.050.000.040.040.040.030.030.020.020.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 58 reconciliationsAUDITED

Reconciled in 15 of 19 fiscal years. 33 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityRetail-Eating Places
Listed onNASDAQ
Incorporated innot stated in the filings
Fiscal year endsDecember 29
SEC categorysmaller reporting company
Data on record since2011

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