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Side-by-side financial comparison of PATHWARD FINANCIAL, INC. (CASH) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
PATHWARD FINANCIAL, INC. is the larger business by last-quarter revenue ($173.1M vs $122.1M, roughly 1.4× NOODLES & Co). PATHWARD FINANCIAL, INC. runs the higher net margin — 20.3% vs -7.5%, a 27.8% gap on every dollar of revenue. On growth, PATHWARD FINANCIAL, INC. posted the faster year-over-year revenue change (-0.2% vs -4.1%). PATHWARD FINANCIAL, INC. produced more free cash flow last quarter ($104.1M vs $-2.8M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -18.0%).
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
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.
CASH vs NDLS — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $173.1M | $122.1M |
| Net Profit | $35.2M | $-9.2M |
| Gross Margin | — | — |
| Operating Margin | 24.6% | -5.2% |
| Net Margin | 20.3% | -7.5% |
| Revenue YoY | -0.2% | -4.1% |
| Net Profit YoY | 11.9% | 32.8% |
| EPS (diluted) | $1.57 | $-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 | $173.1M | — | ||
| Q3 25 | $186.7M | $122.1M | ||
| Q2 25 | $195.8M | $123.8M | ||
| Q1 25 | $274.8M | — | ||
| Q4 24 | $182.6M | $122.8M | ||
| Q3 24 | $179.5M | $127.4M | ||
| Q2 24 | $188.6M | $121.4M | ||
| Q1 24 | $257.6M | $124.3M |
| Q4 25 | $35.2M | — | ||
| Q3 25 | $38.8M | $-9.2M | ||
| Q2 25 | $42.1M | $-9.1M | ||
| Q1 25 | $75.0M | — | ||
| Q4 24 | $30.0M | $-6.8M | ||
| Q3 24 | $33.5M | $-13.6M | ||
| Q2 24 | $44.9M | $-6.1M | ||
| Q1 24 | $69.9M | $-6.1M |
| Q4 25 | 24.6% | — | ||
| Q3 25 | 25.9% | -5.2% | ||
| Q2 25 | 24.1% | -5.2% | ||
| Q1 25 | 33.2% | — | ||
| Q4 24 | 19.8% | -3.9% | ||
| Q3 24 | 20.9% | -9.0% | ||
| Q2 24 | 27.1% | -3.4% | ||
| Q1 24 | 33.8% | -3.7% |
| Q4 25 | 20.3% | — | ||
| Q3 25 | 20.8% | -7.5% | ||
| Q2 25 | 21.5% | -7.3% | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 16.4% | -5.5% | ||
| Q3 24 | 18.7% | -10.7% | ||
| Q2 24 | 23.8% | -5.1% | ||
| Q1 24 | 27.1% | -4.9% |
| Q4 25 | $1.57 | — | ||
| Q3 25 | $1.69 | $-0.20 | ||
| Q2 25 | $1.81 | $-0.20 | ||
| Q1 25 | $3.14 | — | ||
| Q4 24 | $1.23 | $-0.15 | ||
| Q3 24 | $1.34 | $-0.30 | ||
| Q2 24 | $1.78 | $-0.14 | ||
| Q1 24 | $2.74 | $-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 | $331.2M | $4.7M |
| Total DebtLower is stronger | $33.5M | — |
| Stockholders' EquityBook value | $854.5M | $-38.9M |
| Total Assets | $7.6B | $280.6M |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $331.2M | — | ||
| Q3 25 | $120.6M | $4.7M | ||
| Q2 25 | $258.3M | $1.4M | ||
| Q1 25 | $254.2M | — | ||
| Q4 24 | $597.4M | $3.3M | ||
| Q3 24 | $158.3M | $1.8M | ||
| Q2 24 | $298.9M | $1.3M | ||
| Q1 24 | $347.9M | $3.0M |
| Q4 25 | $33.5M | — | ||
| Q3 25 | $33.5M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $33.4M | — | ||
| Q4 24 | $33.4M | — | ||
| Q3 24 | $33.4M | — | ||
| Q2 24 | $33.3M | — | ||
| Q1 24 | $33.4M | — |
| Q4 25 | $854.5M | — | ||
| Q3 25 | $858.0M | $-38.9M | ||
| Q2 25 | $819.0M | $-13.9M | ||
| Q1 25 | $814.7M | — | ||
| Q4 24 | $758.3M | $3.7M | ||
| Q3 24 | $822.5M | $9.6M | ||
| Q2 24 | $748.4M | $21.9M | ||
| Q1 24 | $719.5M | $27.2M |
| Q4 25 | $7.6B | — | ||
| Q3 25 | $7.2B | $280.6M | ||
| Q2 25 | $7.2B | $319.4M | ||
| Q1 25 | $7.0B | — | ||
| Q4 24 | $7.6B | $340.5M | ||
| Q3 24 | $7.5B | $346.3M | ||
| Q2 24 | $7.5B | $360.4M | ||
| Q1 24 | $7.4B | $368.1M |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.04× | — | ||
| Q1 24 | 0.05× | — |
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 | $108.3M | $4.3M |
| Free Cash FlowOCF − Capex | $104.1M | $-2.8M |
| FCF MarginFCF / Revenue | 60.1% | -2.3% |
| Capex IntensityCapex / Revenue | 2.4% | 5.8% |
| Cash ConversionOCF / Net Profit | 3.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | $616.8M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.3M | — | ||
| Q3 25 | $303.7M | $4.3M | ||
| Q2 25 | $30.4M | $4.0M | ||
| Q1 25 | $188.3M | — | ||
| Q4 24 | $-71.7M | $5.8M | ||
| Q3 24 | $143.1M | $4.7M | ||
| Q2 24 | $113.2M | $7.0M | ||
| Q1 24 | $203.0M | $164.0K |
| Q4 25 | $104.1M | — | ||
| Q3 25 | $300.3M | $-2.8M | ||
| Q2 25 | $27.7M | $1.1M | ||
| Q1 25 | $184.7M | — | ||
| Q4 24 | $-73.8M | $-1.3M | ||
| Q3 24 | $138.8M | $-4.5M | ||
| Q2 24 | $111.0M | $-1.6M | ||
| Q1 24 | $201.3M | $-15.2M |
| Q4 25 | 60.1% | — | ||
| Q3 25 | 160.9% | -2.3% | ||
| Q2 25 | 14.1% | 0.9% | ||
| Q1 25 | 67.2% | — | ||
| Q4 24 | -40.4% | -1.1% | ||
| Q3 24 | 77.3% | -3.5% | ||
| Q2 24 | 58.8% | -1.4% | ||
| Q1 24 | 78.1% | -12.2% |
| Q4 25 | 2.4% | — | ||
| Q3 25 | 1.8% | 5.8% | ||
| Q2 25 | 1.4% | 2.4% | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 1.1% | 5.8% | ||
| Q3 24 | 2.4% | 7.2% | ||
| Q2 24 | 1.2% | 7.1% | ||
| Q1 24 | 0.7% | 12.3% |
| Q4 25 | 3.08× | — | ||
| Q3 25 | 7.83× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 2.51× | — | ||
| Q4 24 | -2.39× | — | ||
| Q3 24 | 4.27× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 2.90× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
