InsiderClue
Stocks · Consumer discretionary · Retail-Eating Places

NOODLES & Co

NDLS Clue Score18
United States Fiscal year ends December CIK 0001275158
$14.22 +2.97% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $14.22 +9.47% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue487.5Operating income−67.5Net income−71.7EPS, diluted−2.58Fiscal year 2018Revenue456.5 −6.4%Operating income−33.9Net income−37.5EPS, diluted−1.20Fiscal year 2019Revenue457.8 +0.3%Operating income−3.8Net income−8.4EPS, diluted−0.20Fiscal year 2019Revenue462.4 +1.0%Operating income5.4Net income1.6EPS, diluted0.04Fiscal year 2020Revenue393.7 −14.9%Operating income−20.0Net income−23.3 −1,512.2%EPS, diluted−0.53Fiscal year 2021Revenue475.2 +20.7%Operating income5.8Net income3.7EPS, diluted0.08Fiscal year 2023Revenue509.5 +7.2%Operating income−0.8Net income−3.3 −190.4%EPS, diluted−0.07Fiscal year 2024Revenue503.4 −1.2%Operating income−5.0Net income−9.9EPS, diluted−1.72Fiscal year 2024Revenue493.3 −2.0%Operating income−27.8Net income−36.2EPS, diluted−6.37Fiscal year 2025Revenue495.1 +0.4%Operating income−31.6Net income−42.6EPS, diluted−7.36
FY2017FY2018FY2019FY2019FY2020FY2021FY2023FY2024FY2024FY2025
Revenue 487.5 456.5 457.8 462.4 393.7 475.2 509.5 503.4 493.3 495.1
Growth −6.4% +0.3% +1.0% −14.9% +20.7% +7.2% −1.2% −2.0% +0.4%
Operating income −67.5 −33.9 −3.8 5.4 −20.0 5.8 −0.8 −5.0 −27.8 −31.6
Net income −71.7 −37.5 −8.4 1.6 −23.3 3.7 −3.3 −9.9 −36.2 −42.6
Growth −1,512.2% −190.4%
EPS, diluted −2.58 −1.20 −0.20 0.04 −0.53 0.08 −0.07 −1.72 −6.37 −7.36

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin−13.9%Net margin−14.7%Free cash flow margin−3.8%Fiscal year 2018Operating margin−7.4%Net margin−8.2%Free cash flow margin−3.7%Fiscal year 2019Operating margin−0.8%Net margin−1.8%Free cash flow margin−2.0%Fiscal year 2019Operating margin1.2%Net margin0.4%Free cash flow margin2.7%Fiscal year 2020Operating margin−5.1%Net margin−5.9%Free cash flow margin−0.7%Fiscal year 2021Operating margin1.2%Net margin0.8%Free cash flow margin3.7%Fiscal year 2023Operating margin−0.2%Net margin−0.7%Free cash flow margin−4.8%Fiscal year 2024Operating margin−1.0%Net margin−2.0%Free cash flow margin−4.9%Fiscal year 2024Operating margin−5.6%Net margin−7.3%Free cash flow margin−4.3%Fiscal year 2025Operating margin−6.4%Net margin−8.6%Free cash flow margin−1.0%
FY2017FY2018FY2019FY2019FY2020FY2021FY2023FY2024FY2024FY2025
Operating margin −13.9% −7.4% −0.8% 1.2% −5.1% 1.2% −0.2% −1.0% −5.6% −6.4%
Net margin −14.7% −8.2% −1.8% 0.4% −5.9% 0.8% −0.7% −2.0% −7.3% −8.6%
Free cash flow margin −3.8% −3.7% −2.0% 2.7% −0.7% 3.7% −4.8% −4.9% −4.3% −1.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow24.7Capital expenditure−43.3Free cash flow−18.6Fiscal year 2018Operating cash flow4.1Capital expenditure−20.8Free cash flow−16.7Fiscal year 2019Operating cash flow5.3Capital expenditure−14.3Free cash flow−9.0Fiscal year 2019Operating cash flow30.1Capital expenditure−17.4Free cash flow12.7Fiscal year 2020Operating cash flow9.1Capital expenditure−11.8Free cash flow−2.7 −121.0%Fiscal year 2021Operating cash flow36.2Capital expenditure−18.8Free cash flow17.4Buybacks0.0Fiscal year 2023Operating cash flow9.6Capital expenditure−33.9Free cash flow−24.3 −239.9%Buybacks0.0Fiscal year 2024Operating cash flow27.5Capital expenditure−52.0Free cash flow−24.5Buybacks−5.0Fiscal year 2024Operating cash flow7.6Capital expenditure−28.8Free cash flow−21.2Buybacks0.0Fiscal year 2025Operating cash flow7.3Capital expenditure−12.4Free cash flow−5.1Buybacks0.0
FY2017FY2018FY2019FY2019FY2020FY2021FY2023FY2024FY2024FY2025
Operating cash flow 24.7 4.1 5.3 30.1 9.1 36.2 9.6 27.5 7.6 7.3
Capital expenditure −43.3 −20.8 −14.3 −17.4 −11.8 −18.8 −33.9 −52.0 −28.8 −12.4
Free cash flow −18.6 −16.7 −9.0 12.7 −2.7 17.4 −24.3 −24.5 −21.2 −5.1
Growth −121.0% −239.9%
Buybacks n/a n/a n/a n/a n/a 0.0 0.0 −5.0 0.0 0.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash1.8Total debt84.7Net cash (debt)−82.8Shareholders’ equity25.8Debt to equity3.28Fiscal year 2018Cash3.4Total debt57.6Net cash (debt)−54.3Shareholders’ equity35.9Debt to equity1.61Fiscal year 2019Cash4.7Total debt44.9Net cash (debt)−40.2Shareholders’ equity52.7Debt to equity0.85Fiscal year 2019Cash10.5Total debt41.2Net cash (debt)−30.8Shareholders’ equity50.6Debt to equity0.82Fiscal year 2020Cash7.8Total debt42.1Net cash (debt)−34.2Shareholders’ equity29.7Debt to equity1.42Fiscal year 2021Cash2.3Total debt21.0Net cash (debt)−18.7Shareholders’ equity37.6Debt to equity0.56Fiscal year 2023Cash1.5Total debt46.1Net cash (debt)−44.5Shareholders’ equity38.4Debt to equity1.20Fiscal year 2024Cash3.0Total debt80.2Net cash (debt)−77.2Shareholders’ equity27.2Debt to equity2.95Fiscal year 2024Cash1.1Total debt100.7Net cash (debt)−99.6Shareholders’ equity−5.6Fiscal year 2025Cash1.3Total debt108.8Net cash (debt)−107.5Shareholders’ equity−45.3
FY2017FY2018FY2019FY2019FY2020FY2021FY2023FY2024FY2024FY2025
Cash 1.8 3.4 4.7 10.5 7.8 2.3 1.5 3.0 1.1 1.3
Total debt 84.7 57.6 44.9 41.2 42.1 21.0 46.1 80.2 100.7 108.8
Net cash (debt) −82.8 −54.3 −40.2 −30.8 −34.2 −18.7 −44.5 −77.2 −99.6 −107.5
Shareholders’ equity 25.8 35.9 52.7 50.6 29.7 37.6 38.4 27.2 −5.6 −45.3
Debt to equity 3.28 1.61 0.85 0.82 1.42 0.56 1.20 2.95 n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 3 Jan 2017 FY2018 2 Jan 2018 FY2019 1 Jan 2019 FY2019 31 Dec 2019 FY2020 29 Dec 2020 FY2021 28 Dec 2021 FY2023 3 Jan 2023 FY2024† 2 Jan 2024 FY2024 31 Dec 2024 FY2025 30 Dec 2025
Revenue and profit
487.5 456.5 457.8 462.4 393.7 475.2 509.5 503.4 493.3 495.1
Growth −6.4% +0.3% +1.0% −14.9% +20.7% +7.2% −1.2% −2.0% +0.4%
130.6 121.5 121.1 117.2 n/a n/a n/a n/a n/a n/a
55.7 39.7 46.1 43.4 42.9 47.5 49.9 51.8 50.8 49.1
−67.5 −33.9 −3.8 5.4 −20.0 5.8 −0.8 −5.0 −27.8 −31.6
Growth −468.2% −114.3%
−70.4 −37.7 −8.7 1.8 −23.2 3.7 −3.3 −9.8 −36.2 −42.5
1.2 −0.2 −0.2 0.1 0.1 0.1 0.0 0.0 0.1 0.1
−71.7 −37.5 −8.4 1.6 −23.3 3.7 −3.3 −9.9 −36.2 −42.6
Growth −1,512.2% −190.4%
Per share
−2.58 −1.20 −0.20 0.04 −0.53 0.08 −0.07 −1.72 −6.37 −7.36
−2.58 −1.20 −0.20 0.04 −0.53 0.08 −0.07 −1.72 −6.37 −7.36
Growth −1,425.0% −187.5%
27.8 37.8 42.3 44.0 44.3 45.5 45.9 5.7 5.7 5.8
27.8 37.8 42.3 45.0 44.3 46.1 45.9 5.7 5.7 5.8
Growth +35.8% +12.1% +6.3% −1.6% +4.2% −0.5% −87.5% −0.9% +1.8%

† The diluted share count jumps at 2024, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 4.7% a year over five years.
  • Operating margin is down 1.3 points on five years ago, at -6.4%.
  • A net loss in 8 of 10 years on file.