Company Analysis

Noodles & Company (NDLS)

Nasdaq: NDLS · Retail-Eating Places · Broomfield, CO · filing with the SEC since 2003
Grade2.6
◀ Past 2.1● Present 2.5▶ Future 3.0

The grade of Noodles & Company

Nine metrics read from its own filings, by tense
Headline grade
2.6/10
◀ Past2.125% of the headline
● Present2.545% of the headline
▶ Future3.030% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

2.1/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed
1.3/10

Has it survived what it has been through?

5 warning events since 2017; the latest 2025-12-29.

weight 45% of this tense · 13th percentile among 43 sector filers · read for itself

From the record

Noodles & Company's filings since 2017 show 5 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, 4 times, the latest 2025-12-29); an auditor change (8-K item 4.01, the latest 2025-09-12) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.2/10

What has it actually done, year after year?

+0.2% a year over 10 filed years; profitable in 2 of 10.

weight 33% of this tense · 22nd percentile among 42 sector filers · read for its customers

From the record

Noodles & Company's 10 filed years say what it did: revenue went from $487 million in fiscal 2017 to $495 million in fiscal 2025, up 0.2% a year; it rose in 5 of 9 years; the deepest fall was 19% from fiscal 2017 to fiscal 2020; net income was positive in 2 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span0.2%bottom 13% of its family
  • the share of years revenue rosebottom 20% of its family
  • the share of filed years with a profitbottom 12% of its family
  • the deepest fall from a revenue peak19.2%bottom 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
3.4/10

How has it treated the people who own it?

Share count grew 0.3% a year. 12% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 34th percentile among 37 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-30, Noodles & Company's diluted share count grew about 0.3% a year, and dividends and buybacks returned about 12% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 34% of its family
  • cash returned against operating cash flowbottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

2.5/1045% of the headline grade · 3 of 3 filed

Financial health

as filed
2.1/10

Is it financially healthy right now?

Leverage 117%: owes 117¢ per asset dollar.

weight 45% of this tense · 21st percentile among 41 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-30, Noodles & Company's shareholders' equity was below zero, so the profit on it is not read. Leverage: it owed about 117 cents per dollar of assets, and net share issuance: its share count grew 1.8% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 20% of its family
  • the share count against the year beforebottom 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
2.3/10

How strong is its position in its industry?

bottom 23% of 43 in its family; net margin -8.6%.

weight 33% of this tense · 23rd percentile among 43 sector filers · read for its customers

From the record

Noodles & Company's standing among 43 graded names in its industry family: revenue of $495 million in fiscal 2025 ranks in the bottom 35% by size; a net margin of -8.6% ranks in the bottom 22%; revenue growth of -1% a year over the last 3 filed years ranks in the bottom 10% (its annual reports).

What it rests on

  • revenue against the family$495Mbottom 35% of its family
  • net margin-8.6%bottom 22% of its family
  • three-year revenue growth-1.0%bottom 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
3.9/10

What are the people in charge doing?

bottom 39% of 30 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 39th percentile among 30 sector filers · read for its shareholders

From the record

Noodles & Company's leadership, from its insiders' filings and its current reports: the chief executive on the record is Christina, Joseph (CEO and President, as filed), filing under that title since 2025-09-03, 1.2 years (bottom 29% of its family); the 10 officers and directors filing in the last fifteen months have been on the record a median of 6.4 years (top 26%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 10 people in charge now (bottom 13%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge10 in three years among 10 peoplebottom 13% of its family
  • the median years the people in charge have filed6.4 yearstop 26% of its family
  • the chief executive's years on the record1.2 yearsbottom 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

3.0/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
2.2/10

How much room does it have to grow?

bottom 22% of 41 in its family for room to expand.

weight 22% of this tense · 22nd percentile among 41 sector filers · read for itself

From the record

Noodles & Company's room to grow, from the newest filed statements (fiscal 2025): cash of $1 million against debt of $109 million leaves -41.1% of its assets as net cash, bottom 16% of its family; cash from operations less capital spending is -1% of revenue (bottom 27%) (its annual report).

What it rests on

  • cash less debt against assets-41.1%bottom 16% of its family
  • cash from operations less capital spending against revenue-1.0%bottom 27% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
2.4/10

What could actually drive growth from here?

bottom 24% of 42 in its family for growth drivers.

weight 45% of this tense · 24th percentile among 42 sector filers · read for its customers

From the record

Noodles & Company's growth drivers, from the filed years to fiscal 2025: revenue grew -1% a year over the last three filed years against 0.2% over all 10, slowing (bottom 35% of its family); the newest year grew 0.4% (bottom 27%); capital spending grew -28.6% a year (bottom 11%) (its annual reports). Noodles & Company reported 2 product lines in fiscal 2025: Food and Beverage at $485 million (98%), Franchise at $10 million (2%); 1 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-1.1 points a yearbottom 35% of its family
  • the newest year's revenue growth0.4%bottom 27% of its family
  • three-year growth of capital spending-28.6%bottom 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.3/10

Did its newest year beat what its own record pointed to?

bottom 43% of 39 in its family for expectations against reality.

weight 33% of this tense · 43rd percentile among 39 sector filers · read for its shareholders

From the record

Noodles & Company's newest year against its own record: revenue of $495 million in fiscal 2025 came in 2% above the $485 million its prior three years' pace pointed to (top 19% of its family); net income of $43 million against a prior three-year average of $16 million (bottom 17%); a net margin of -8.6% against -3.3% before (bottom 32%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace2.0%top 19% of its family
  • net income against the prior three years' average-159%bottom 17% of its family
  • net margin against its prior average-5.3 pointsbottom 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton NDLS · research, not advice