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Side-by-side financial comparison of CORVEL CORP (CRVL) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
CORVEL CORP is the larger business by last-quarter revenue ($235.6M vs $122.1M, roughly 1.9× NOODLES & Co). CORVEL CORP runs the higher net margin — 10.3% vs -7.5%, a 17.8% gap on every dollar of revenue. On growth, CORVEL CORP posted the faster year-over-year revenue change (3.4% vs -4.1%). CORVEL CORP produced more free cash flow last quarter ($35.2M vs $-2.8M). Over the past eight quarters, CORVEL CORP's revenue compounded faster (6.6% CAGR vs -1.2%).
Corvel Corp is a U.S.-headquartered provider of integrated workers’ compensation, healthcare management, and risk mitigation solutions. It serves insurance carriers, self-insured employers, and public sector clients, delivering services to control healthcare costs, improve care outcomes, and optimize administrative operations.
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.
CRVL vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $235.6M | $122.1M |
| Net Profit | $24.2M | $-9.2M |
| Gross Margin | 23.3% | — |
| Operating Margin | 13.7% | -5.2% |
| Net Margin | 10.3% | -7.5% |
| Revenue YoY | 3.4% | -4.1% |
| Net Profit YoY | 1.7% | 32.8% |
| EPS (diluted) | $0.47 | $-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 | $235.6M | — | ||
| Q3 25 | $239.6M | $122.1M | ||
| Q2 25 | $234.7M | $123.8M | ||
| Q1 25 | $231.5M | — | ||
| Q4 24 | $228.0M | $122.8M | ||
| Q3 24 | $224.4M | $127.4M | ||
| Q2 24 | $211.7M | $121.4M | ||
| Q1 24 | $207.2M | $124.3M |
| Q4 25 | $24.2M | — | ||
| Q3 25 | $27.9M | $-9.2M | ||
| Q2 25 | $27.2M | $-9.1M | ||
| Q1 25 | $26.4M | — | ||
| Q4 24 | $23.8M | $-6.8M | ||
| Q3 24 | $23.4M | $-13.6M | ||
| Q2 24 | $21.6M | $-6.1M | ||
| Q1 24 | $19.5M | $-6.1M |
| Q4 25 | 23.3% | — | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | 25.0% | — | ||
| Q4 24 | 23.2% | — | ||
| Q3 24 | 22.6% | — | ||
| Q2 24 | 22.7% | — | ||
| Q1 24 | 20.9% | — |
| Q4 25 | 13.7% | — | ||
| Q3 25 | 15.0% | -5.2% | ||
| Q2 25 | 15.0% | -5.2% | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | 13.5% | -3.9% | ||
| Q3 24 | 12.8% | -9.0% | ||
| Q2 24 | 13.2% | -3.4% | ||
| Q1 24 | 10.9% | -3.7% |
| Q4 25 | 10.3% | — | ||
| Q3 25 | 11.6% | -7.5% | ||
| Q2 25 | 11.6% | -7.3% | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 10.4% | -5.5% | ||
| Q3 24 | 10.4% | -10.7% | ||
| Q2 24 | 10.2% | -5.1% | ||
| Q1 24 | 9.4% | -4.9% |
| Q4 25 | $0.47 | — | ||
| Q3 25 | $0.54 | $-0.20 | ||
| Q2 25 | $0.52 | $-0.20 | ||
| Q1 25 | $-1.23 | — | ||
| Q4 24 | $0.46 | $-0.15 | ||
| Q3 24 | $1.35 | $-0.30 | ||
| Q2 24 | $1.25 | $-0.14 | ||
| Q1 24 | $1.12 | $-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 | $230.0M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $375.7M | $-38.9M |
| Total Assets | $644.8M | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $230.0M | — | ||
| Q3 25 | $207.5M | $4.7M | ||
| Q2 25 | $202.0M | $1.4M | ||
| Q1 25 | $170.6M | — | ||
| Q4 24 | $162.9M | $3.3M | ||
| Q3 24 | $138.3M | $1.8M | ||
| Q2 24 | $131.9M | $1.3M | ||
| Q1 24 | $105.6M | $3.0M |
| Q4 25 | $375.7M | — | ||
| Q3 25 | $362.8M | $-38.9M | ||
| Q2 25 | $342.5M | $-13.9M | ||
| Q1 25 | $322.0M | — | ||
| Q4 24 | $300.9M | $3.7M | ||
| Q3 24 | $282.8M | $9.6M | ||
| Q2 24 | $263.9M | $21.9M | ||
| Q1 24 | $247.6M | $27.2M |
| Q4 25 | $644.8M | — | ||
| Q3 25 | $611.7M | $280.6M | ||
| Q2 25 | $597.4M | $319.4M | ||
| Q1 25 | $546.0M | — | ||
| Q4 24 | $538.8M | $340.5M | ||
| Q3 24 | $518.6M | $346.3M | ||
| Q2 24 | $486.2M | $360.4M | ||
| Q1 24 | $454.7M | $368.1M |
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 | $46.1M | $4.3M |
| Free Cash FlowOCF − Capex | $35.2M | $-2.8M |
| FCF MarginFCF / Revenue | 14.9% | -2.3% |
| Capex IntensityCapex / Revenue | 4.7% | 5.8% |
| Cash ConversionOCF / Net Profit | 1.91× | — |
| TTM Free Cash FlowTrailing 4 quarters | $104.3M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $46.1M | — | ||
| Q3 25 | $25.0M | $4.3M | ||
| Q2 25 | $55.0M | $4.0M | ||
| Q1 25 | $22.9M | — | ||
| Q4 24 | $41.6M | $5.8M | ||
| Q3 24 | $22.3M | $4.7M | ||
| Q2 24 | $40.4M | $7.0M | ||
| Q1 24 | $15.2M | $164.0K |
| Q4 25 | $35.2M | — | ||
| Q3 25 | $15.3M | $-2.8M | ||
| Q2 25 | $39.5M | $1.1M | ||
| Q1 25 | $14.3M | — | ||
| Q4 24 | $32.1M | $-1.3M | ||
| Q3 24 | $12.4M | $-4.5M | ||
| Q2 24 | $32.8M | $-1.6M | ||
| Q1 24 | $5.2M | $-15.2M |
| Q4 25 | 14.9% | — | ||
| Q3 25 | 6.4% | -2.3% | ||
| Q2 25 | 16.8% | 0.9% | ||
| Q1 25 | 6.2% | — | ||
| Q4 24 | 14.1% | -1.1% | ||
| Q3 24 | 5.5% | -3.5% | ||
| Q2 24 | 15.5% | -1.4% | ||
| Q1 24 | 2.5% | -12.2% |
| Q4 25 | 4.7% | — | ||
| Q3 25 | 4.1% | 5.8% | ||
| Q2 25 | 6.6% | 2.4% | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 4.2% | 5.8% | ||
| Q3 24 | 4.4% | 7.2% | ||
| Q2 24 | 3.6% | 7.1% | ||
| Q1 24 | 4.8% | 12.3% |
| Q4 25 | 1.91× | — | ||
| Q3 25 | 0.90× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 1.75× | — | ||
| Q3 24 | 0.95× | — | ||
| Q2 24 | 1.87× | — | ||
| Q1 24 | 0.78× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRVL
| Patient Management Services | $146.1M | 62% |
| Network Solutions Services | $89.6M | 38% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
