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

Ratios

Percentages worked out from the filed figures; debt to equity in times. 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
Margins
−13.9% −7.4% −0.8% 1.2% −5.1% 1.2% −0.2% −1.0% −5.6% −6.4%
−14.5% −8.3% −1.9% 0.4% −5.9% 0.8% −0.6% −2.0% −7.3% −8.6%
−14.7% −8.2% −1.8% 0.4% −5.9% 0.8% −0.7% −2.0% −7.3% −8.6%
−3.8% −3.7% −2.0% 2.7% −0.7% 3.7% −4.8% −4.9% −4.3% −1.0%
Spending
11.4% 8.7% 10.1% 9.4% 10.9% 10.0% 9.8% 10.3% 10.3% 9.9%
8.9% 4.6% 3.1% 3.8% 3.0% 4.0% 6.7% 10.3% 5.8% 2.5%
n/a n/a n/a 5.9% n/a 1.9% n/a n/a n/a n/a
Returns
−277.6% −104.5% −16.0% 3.3% −78.3% 9.7% −8.6% −36.3% n/a n/a
−34.2% −20.2% −4.9% 0.4% −6.6% 1.1% −1.0% −2.7% −11.2% −16.3%
Balance and payout
3.28 1.61 0.85 0.82 1.42 0.56 1.20 2.95 n/a n/a
87.7% 80.6% 69.4% 86.6% 91.6% 89.0% 88.8% 92.6% 101.7% 117.3%
n/a n/a n/a n/a n/a 0.0% n/a n/a n/a n/a