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Side-by-side financial comparison of Ardmore Shipping Corp (ASC) 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 $81.2M, roughly 1.5× Ardmore Shipping Corp). Ardmore Shipping Corp runs the higher net margin — 15.7% vs -7.5%, a 23.2% gap on every dollar of revenue. On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -15.5%). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -6.0%).
Ardmore Shipping Corp is a global maritime transport company that owns and operates a fleet of mid-sized product and chemical tankers. It provides seaborne transport for petroleum products, specialty chemicals and bulk liquid commodities, serving energy, chemical and trading clients across key international trade routes.
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.
ASC vs NDLS — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $81.2M | $122.1M |
| Net Profit | $12.8M | $-9.2M |
| Gross Margin | — | — |
| Operating Margin | 16.1% | -5.2% |
| Net Margin | 15.7% | -7.5% |
| Revenue YoY | -15.5% | -4.1% |
| Net Profit YoY | -47.0% | 32.8% |
| EPS (diluted) | $0.30 | $-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.
| Q3 25 | $81.2M | $122.1M | ||
| Q2 25 | $72.0M | $123.8M | ||
| Q1 25 | $74.0M | — | ||
| Q4 24 | — | $122.8M | ||
| Q3 24 | $96.1M | $127.4M | ||
| Q2 24 | $121.3M | $121.4M | ||
| Q1 24 | $106.3M | $124.3M | ||
| Q4 23 | — | $127.9M |
| Q3 25 | $12.8M | $-9.2M | ||
| Q2 25 | $9.6M | $-9.1M | ||
| Q1 25 | $6.3M | — | ||
| Q4 24 | — | $-6.8M | ||
| Q3 24 | $24.1M | $-13.6M | ||
| Q2 24 | $62.7M | $-6.1M | ||
| Q1 24 | $39.2M | $-6.1M | ||
| Q4 23 | — | $700.0K |
| Q3 25 | 16.1% | -5.2% | ||
| Q2 25 | 13.5% | -5.2% | ||
| Q1 25 | 8.6% | — | ||
| Q4 24 | — | -3.9% | ||
| Q3 24 | 25.4% | -9.0% | ||
| Q2 24 | 51.3% | -3.4% | ||
| Q1 24 | 37.2% | -3.7% | ||
| Q4 23 | — | 1.6% |
| Q3 25 | 15.7% | -7.5% | ||
| Q2 25 | 13.3% | -7.3% | ||
| Q1 25 | 8.5% | — | ||
| Q4 24 | — | -5.5% | ||
| Q3 24 | 25.1% | -10.7% | ||
| Q2 24 | 51.7% | -5.1% | ||
| Q1 24 | 36.9% | -4.9% | ||
| Q4 23 | — | 0.5% |
| Q3 25 | $0.30 | $-0.20 | ||
| Q2 25 | $0.22 | $-0.20 | ||
| Q1 25 | $0.14 | — | ||
| Q4 24 | — | $-0.15 | ||
| Q3 24 | $0.55 | $-0.30 | ||
| Q2 24 | $1.47 | $-0.14 | ||
| Q1 24 | $0.92 | $-1.64 | ||
| Q4 23 | — | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.7M |
| Total DebtLower is stronger | $116.1M | — |
| Stockholders' EquityBook value | $628.2M | $-38.9M |
| Total Assets | $799.8M | $280.6M |
| Debt / EquityLower = less leverage | 0.18× | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $4.7M | ||
| Q2 25 | — | $1.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.3M | ||
| Q3 24 | — | $1.8M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | — | $3.0M | ||
| Q4 23 | — | $2.5M |
| Q3 25 | $116.1M | — | ||
| Q2 25 | $25.0M | — | ||
| Q1 25 | $20.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $22.5M | — | ||
| Q2 24 | $44.2M | — | ||
| Q1 24 | $23.1M | — | ||
| Q4 23 | — | — |
| Q3 25 | $628.2M | $-38.9M | ||
| Q2 25 | $618.3M | $-13.9M | ||
| Q1 25 | $610.7M | — | ||
| Q4 24 | — | $3.7M | ||
| Q3 24 | $627.0M | $9.6M | ||
| Q2 24 | $617.7M | $21.9M | ||
| Q1 24 | $567.9M | $27.2M | ||
| Q4 23 | — | $32.5M |
| Q3 25 | $799.8M | $280.6M | ||
| Q2 25 | $703.8M | $319.4M | ||
| Q1 25 | $690.4M | — | ||
| Q4 24 | — | $340.5M | ||
| Q3 24 | $722.8M | $346.3M | ||
| Q2 24 | $742.0M | $360.4M | ||
| Q1 24 | $704.1M | $368.1M | ||
| Q4 23 | — | $368.8M |
| Q3 25 | 0.18× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.07× | — | ||
| Q1 24 | 0.04× | — | ||
| Q4 23 | — | — |
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 | $17.9M | $4.3M |
| Free Cash FlowOCF − Capex | — | $-2.8M |
| FCF MarginFCF / Revenue | — | -2.3% |
| Capex IntensityCapex / Revenue | — | 5.8% |
| Cash ConversionOCF / Net Profit | 1.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $17.9M | $4.3M | ||
| Q2 25 | $11.2M | $4.0M | ||
| Q1 25 | $26.3M | — | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $39.9M | $4.7M | ||
| Q2 24 | $48.4M | $7.0M | ||
| Q1 24 | $49.2M | $164.0K | ||
| Q4 23 | — | $16.9M |
| Q3 25 | — | $-2.8M | ||
| Q2 25 | — | $1.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | — | $-4.5M | ||
| Q2 24 | — | $-1.6M | ||
| Q1 24 | — | $-15.2M | ||
| Q4 23 | — | $4.1M |
| Q3 25 | — | -2.3% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -3.5% | ||
| Q2 24 | — | -1.4% | ||
| Q1 24 | — | -12.2% | ||
| Q4 23 | — | 3.2% |
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 12.3% | ||
| Q4 23 | — | 10.0% |
| Q3 25 | 1.40× | — | ||
| Q2 25 | 1.17× | — | ||
| Q1 25 | 4.20× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 0.77× | — | ||
| Q1 24 | 1.25× | — | ||
| Q4 23 | — | 24.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASC
Segment breakdown not available.
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
