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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
AMERICAN STATES WATER CO is the larger business by last-quarter revenue ($164.3M vs $122.1M, roughly 1.3× NOODLES & Co). AMERICAN STATES WATER CO runs the higher net margin — 17.5% vs -7.5%, a 25.0% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs -4.1%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-36.0M). Over the past eight quarters, AMERICAN STATES WATER CO's revenue compounded faster (10.2% CAGR vs -1.2%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
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.
AWR vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $122.1M |
| Net Profit | $28.7M | $-9.2M |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | -5.2% |
| Net Margin | 17.5% | -7.5% |
| Revenue YoY | 14.8% | -4.1% |
| Net Profit YoY | 1.1% | 32.8% |
| EPS (diluted) | $0.74 | $-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.
| Q4 25 | $164.3M | — | ||
| Q3 25 | $182.7M | $122.1M | ||
| Q2 25 | $163.1M | $123.8M | ||
| Q1 25 | $148.0M | — | ||
| Q4 24 | $143.1M | $122.8M | ||
| Q3 24 | $161.8M | $127.4M | ||
| Q2 24 | $155.3M | $121.4M | ||
| Q1 24 | $135.3M | $124.3M |
| Q4 25 | $28.7M | — | ||
| Q3 25 | $41.2M | $-9.2M | ||
| Q2 25 | $33.7M | $-9.1M | ||
| Q1 25 | $26.8M | — | ||
| Q4 24 | $28.4M | $-6.8M | ||
| Q3 24 | $35.8M | $-13.6M | ||
| Q2 24 | $31.9M | $-6.1M | ||
| Q1 24 | $23.1M | $-6.1M |
| Q4 25 | 88.9% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 92.1% | — | ||
| Q1 25 | 91.3% | — | ||
| Q4 24 | 92.4% | — | ||
| Q3 24 | 92.7% | — | ||
| Q2 24 | 89.6% | — | ||
| Q1 24 | 88.4% | — |
| Q4 25 | 27.4% | — | ||
| Q3 25 | 33.8% | -5.2% | ||
| Q2 25 | 31.3% | -5.2% | ||
| Q1 25 | 30.8% | — | ||
| Q4 24 | 27.0% | -3.9% | ||
| Q3 24 | 34.0% | -9.0% | ||
| Q2 24 | 33.3% | -3.4% | ||
| Q1 24 | 28.8% | -3.7% |
| Q4 25 | 17.5% | — | ||
| Q3 25 | 22.5% | -7.5% | ||
| Q2 25 | 20.7% | -7.3% | ||
| Q1 25 | 18.1% | — | ||
| Q4 24 | 19.9% | -5.5% | ||
| Q3 24 | 22.1% | -10.7% | ||
| Q2 24 | 20.5% | -5.1% | ||
| Q1 24 | 17.1% | -4.9% |
| Q4 25 | $0.74 | — | ||
| Q3 25 | $1.06 | $-0.20 | ||
| Q2 25 | $0.87 | $-0.20 | ||
| Q1 25 | $0.70 | — | ||
| Q4 24 | $0.75 | $-0.15 | ||
| Q3 24 | $0.95 | $-0.30 | ||
| Q2 24 | $0.85 | $-0.14 | ||
| Q1 24 | $0.62 | $-1.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.8M | $4.7M |
| Total DebtLower is stronger | $782.7M | — |
| Stockholders' EquityBook value | $1.0B | $-38.9M |
| Total Assets | $2.7B | $280.6M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | — | ||
| Q3 25 | $26.1M | $4.7M | ||
| Q2 25 | $20.2M | $1.4M | ||
| Q1 25 | $21.2M | — | ||
| Q4 24 | $26.7M | $3.3M | ||
| Q3 24 | $16.5M | $1.8M | ||
| Q2 24 | $3.6M | $1.3M | ||
| Q1 24 | $17.0M | $3.0M |
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.0B | $-38.9M | ||
| Q2 25 | $972.5M | $-13.9M | ||
| Q1 25 | $956.4M | — | ||
| Q4 24 | $920.1M | $3.7M | ||
| Q3 24 | $879.5M | $9.6M | ||
| Q2 24 | $833.5M | $21.9M | ||
| Q1 24 | $800.5M | $27.2M |
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.7B | $280.6M | ||
| Q2 25 | $2.6B | $319.4M | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.5B | $340.5M | ||
| Q3 24 | $2.4B | $346.3M | ||
| Q2 24 | $2.3B | $360.4M | ||
| Q1 24 | $2.3B | $368.1M |
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $27.7M | $4.3M |
| Free Cash FlowOCF − Capex | $-36.0M | $-2.8M |
| FCF MarginFCF / Revenue | -21.9% | -2.3% |
| Capex IntensityCapex / Revenue | 38.8% | 5.8% |
| Cash ConversionOCF / Net Profit | 0.96× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | — | ||
| Q3 25 | $92.4M | $4.3M | ||
| Q2 25 | $64.6M | $4.0M | ||
| Q1 25 | $45.1M | — | ||
| Q4 24 | $64.5M | $5.8M | ||
| Q3 24 | $63.7M | $4.7M | ||
| Q2 24 | $24.7M | $7.0M | ||
| Q1 24 | $45.8M | $164.0K |
| Q4 25 | $-36.0M | — | ||
| Q3 25 | $37.7M | $-2.8M | ||
| Q2 25 | $13.7M | $1.1M | ||
| Q1 25 | $-22.5M | — | ||
| Q4 24 | $6.0M | $-1.3M | ||
| Q3 24 | $-478.0K | $-4.5M | ||
| Q2 24 | $-37.0M | $-1.6M | ||
| Q1 24 | $-1.7M | $-15.2M |
| Q4 25 | -21.9% | — | ||
| Q3 25 | 20.7% | -2.3% | ||
| Q2 25 | 8.4% | 0.9% | ||
| Q1 25 | -15.2% | — | ||
| Q4 24 | 4.2% | -1.1% | ||
| Q3 24 | -0.3% | -3.5% | ||
| Q2 24 | -23.8% | -1.4% | ||
| Q1 24 | -1.3% | -12.2% |
| Q4 25 | 38.8% | — | ||
| Q3 25 | 29.9% | 5.8% | ||
| Q2 25 | 31.2% | 2.4% | ||
| Q1 25 | 45.6% | — | ||
| Q4 24 | 40.9% | 5.8% | ||
| Q3 24 | 39.7% | 7.2% | ||
| Q2 24 | 39.8% | 7.1% | ||
| Q1 24 | 35.2% | 12.3% |
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 2.27× | — | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | 0.78× | — | ||
| Q1 24 | 1.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AWR
| Water Service Utility Operations | $110.0M | 67% |
| Public Utilities Inventory Water | $22.3M | 14% |
| Wastewater | $15.9M | 10% |
| Electric Service Utility Operations | $15.2M | 9% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
