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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
NOODLES & Co is the larger business by last-quarter revenue ($122.1M vs $110.6M, roughly 1.1× American Assets Trust, Inc.). American Assets Trust, Inc. runs the higher net margin — 6.1% vs -7.5%, a 13.6% gap on every dollar of revenue. On growth, American Assets Trust, Inc. posted the faster year-over-year revenue change (1.8% vs -4.1%). Over the past eight quarters, American Assets Trust, Inc.'s revenue compounded faster (-0.1% CAGR vs -1.2%).
Personal Assets Trust is a large British investment trust. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The chairman is Iain Ferguson CBE.
Noodles & Company is an American fast-casual restaurant that offers international and American noodle dishes in addition to soups and salads. Noodles & Company was founded in 1995 by Aaron Kennedy and is headquartered in Broomfield, Colorado. The company went public in 2013 and recorded a $457 million revenue in 2017. In mid-2022, there were 458 Noodles & Company locations across 31 states.
AAT vs NDLS — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $122.1M |
| Net Profit | $6.7M | $-9.2M |
| Gross Margin | — | — |
| Operating Margin | 23.4% | -5.2% |
| Net Margin | 6.1% | -7.5% |
| Revenue YoY | 1.8% | -4.1% |
| Net Profit YoY | -16.3% | 32.8% |
| EPS (diluted) | $0.08 | $-0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | — | ||
| Q3 25 | $109.6M | $122.1M | ||
| Q2 25 | $107.9M | $123.8M | ||
| Q1 25 | $108.6M | — | ||
| Q4 24 | $113.5M | $122.8M | ||
| Q3 24 | $122.8M | $127.4M | ||
| Q2 24 | $110.9M | $121.4M |
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $4.5M | $-9.2M | ||
| Q2 25 | $5.5M | $-9.1M | ||
| Q1 25 | $42.5M | — | ||
| Q4 24 | — | $-6.8M | ||
| Q3 24 | $16.7M | $-13.6M | ||
| Q2 24 | $11.9M | $-6.1M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | — | ||
| Q3 25 | 60.5% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.0% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 65.5% | — | ||
| Q2 24 | 63.6% | — |
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | — | ||
| Q3 25 | 22.6% | -5.2% | ||
| Q2 25 | 24.1% | -5.2% | ||
| Q1 25 | 66.3% | — | ||
| Q4 24 | 26.5% | -3.9% | ||
| Q3 24 | 30.8% | -9.0% | ||
| Q2 24 | 27.8% | -3.4% |
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.1% | -7.5% | ||
| Q2 25 | 5.1% | -7.3% | ||
| Q1 25 | 39.2% | — | ||
| Q4 24 | — | -5.5% | ||
| Q3 24 | 13.6% | -10.7% | ||
| Q2 24 | 10.7% | -5.1% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | — | ||
| Q3 25 | $0.07 | $-0.20 | ||
| Q2 25 | $0.09 | $-0.20 | ||
| Q1 25 | $0.70 | — | ||
| Q4 24 | $0.14 | $-0.15 | ||
| Q3 24 | $0.28 | $-0.30 | ||
| Q2 24 | $0.20 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $118.3M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $-38.9M |
| Total Assets | $2.9B | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | — | ||
| Q3 25 | $138.7M | $4.7M | ||
| Q2 25 | $143.7M | $1.4M | ||
| Q1 25 | $143.9M | — | ||
| Q4 24 | $425.7M | $3.3M | ||
| Q3 24 | $533.0M | $1.8M | ||
| Q2 24 | $114.9M | $1.3M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $-38.9M | ||
| Q2 25 | $1.2B | $-13.9M | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | $3.7M | ||
| Q3 24 | $1.2B | $9.6M | ||
| Q2 24 | $1.2B | $21.9M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.9B | $280.6M | ||
| Q2 25 | $3.0B | $319.4M | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.3B | $340.5M | ||
| Q3 24 | $3.4B | $346.3M | ||
| Q2 24 | $3.0B | $360.4M |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.72× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $4.3M |
| Free Cash FlowOCF − Capex | — | $-2.8M |
| FCF MarginFCF / Revenue | — | -2.3% |
| Capex IntensityCapex / Revenue | 14.5% | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | — | ||
| Q3 25 | $40.5M | $4.3M | ||
| Q2 25 | $49.2M | $4.0M | ||
| Q1 25 | $36.9M | — | ||
| Q4 24 | $207.1M | $5.8M | ||
| Q3 24 | $52.4M | $4.7M | ||
| Q2 24 | $59.3M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | — | ||
| Q3 25 | $23.1M | $-2.8M | ||
| Q2 25 | $28.4M | $1.1M | ||
| Q1 25 | $20.4M | — | ||
| Q4 24 | $136.9M | $-1.3M | ||
| Q3 24 | $28.0M | $-4.5M | ||
| Q2 24 | $43.6M | $-1.6M |
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | — | ||
| Q3 25 | 21.1% | -2.3% | ||
| Q2 25 | 26.3% | 0.9% | ||
| Q1 25 | 18.8% | — | ||
| Q4 24 | 120.7% | -1.1% | ||
| Q3 24 | 22.8% | -3.5% | ||
| Q2 24 | 39.3% | -1.4% |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | — | ||
| Q3 25 | 15.9% | 5.8% | ||
| Q2 25 | 19.3% | 2.4% | ||
| Q1 25 | 15.1% | — | ||
| Q4 24 | 61.9% | 5.8% | ||
| Q3 24 | 19.9% | 7.2% | ||
| Q2 24 | 14.1% | 7.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | — | ||
| Q2 24 | 4.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
