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Side-by-side financial comparison of DENNY'S Corp (DENN) 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 $113.2M, roughly 1.1× DENNY'S Corp). DENNY'S Corp runs the higher net margin — 0.6% vs -7.5%, a 8.1% gap on every dollar of revenue. On growth, DENNY'S Corp posted the faster year-over-year revenue change (1.3% vs -4.1%). DENNY'S Corp produced more free cash flow last quarter ($16.0M vs $-2.8M). Over the past eight quarters, DENNY'S Corp's revenue compounded faster (-0.9% CAGR vs -1.2%).
Denny's is an American table service diner-style restaurant chain. It operates over 1,400 restaurants in the United States, Canada, México, Puerto Rico, and several other international locations.
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.
DENN vs NDLS — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.2M | $122.1M |
| Net Profit | $632.0K | $-9.2M |
| Gross Margin | — | — |
| Operating Margin | 9.2% | -5.2% |
| Net Margin | 0.6% | -7.5% |
| Revenue YoY | 1.3% | -4.1% |
| Net Profit YoY | -90.3% | 32.8% |
| EPS (diluted) | $0.01 | $-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 | $113.2M | $122.1M | ||
| Q2 25 | $117.7M | $123.8M | ||
| Q1 25 | $111.6M | — | ||
| Q4 24 | $114.7M | $122.8M | ||
| Q3 24 | $111.8M | $127.4M | ||
| Q2 24 | $115.9M | $121.4M | ||
| Q1 24 | $110.0M | $124.3M | ||
| Q4 23 | $115.4M | $127.9M |
| Q3 25 | $632.0K | $-9.2M | ||
| Q2 25 | $2.5M | $-9.1M | ||
| Q1 25 | $326.0K | — | ||
| Q4 24 | $6.8M | $-6.8M | ||
| Q3 24 | $6.5M | $-13.6M | ||
| Q2 24 | $3.6M | $-6.1M | ||
| Q1 24 | $4.7M | $-6.1M | ||
| Q4 23 | $2.9M | $700.0K |
| Q3 25 | 9.2% | -5.2% | ||
| Q2 25 | 7.3% | -5.2% | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | 12.6% | -3.9% | ||
| Q3 24 | 10.5% | -9.0% | ||
| Q2 24 | 7.9% | -3.4% | ||
| Q1 24 | 9.1% | -3.7% | ||
| Q4 23 | 6.7% | 1.6% |
| Q3 25 | 0.6% | -7.5% | ||
| Q2 25 | 2.1% | -7.3% | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 5.9% | -5.5% | ||
| Q3 24 | 5.8% | -10.7% | ||
| Q2 24 | 3.1% | -5.1% | ||
| Q1 24 | 4.3% | -4.9% | ||
| Q4 23 | 2.5% | 0.5% |
| Q3 25 | $0.01 | $-0.20 | ||
| Q2 25 | $0.05 | $-0.20 | ||
| Q1 25 | $0.01 | — | ||
| Q4 24 | $0.13 | $-0.15 | ||
| Q3 24 | $0.12 | $-0.30 | ||
| Q2 24 | $0.07 | $-0.14 | ||
| Q1 24 | $0.09 | $-1.64 | ||
| Q4 23 | $0.05 | $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 | — | — |
| Stockholders' EquityBook value | $-32.7M | $-38.9M |
| Total Assets | $502.9M | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $4.7M | ||
| Q2 25 | — | $1.4M | ||
| Q1 25 | $1.1M | — | ||
| Q4 24 | $100.0K | $3.3M | ||
| Q3 24 | $2.9M | $1.8M | ||
| Q2 24 | $2.8M | $1.3M | ||
| Q1 24 | $2.8M | $3.0M | ||
| Q4 23 | $100.0K | $2.5M |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $270.6M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $264.6M | — |
| Q3 25 | $-32.7M | $-38.9M | ||
| Q2 25 | $-34.6M | $-13.9M | ||
| Q1 25 | $-36.4M | — | ||
| Q4 24 | $-34.0M | $3.7M | ||
| Q3 24 | $-54.5M | $9.6M | ||
| Q2 24 | $-53.2M | $21.9M | ||
| Q1 24 | $-55.7M | $27.2M | ||
| Q4 23 | $-62.7M | $32.5M |
| Q3 25 | $502.9M | $280.6M | ||
| Q2 25 | $491.1M | $319.4M | ||
| Q1 25 | $488.1M | — | ||
| Q4 24 | $496.3M | $340.5M | ||
| Q3 24 | $461.6M | $346.3M | ||
| Q2 24 | $459.9M | $360.4M | ||
| Q1 24 | $460.4M | $368.1M | ||
| Q4 23 | $464.8M | $368.8M |
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 | $16.0M | $4.3M |
| Free Cash FlowOCF − Capex | $16.0M | $-2.8M |
| FCF MarginFCF / Revenue | 14.1% | -2.3% |
| Capex IntensityCapex / Revenue | 0.0% | 5.8% |
| Cash ConversionOCF / Net Profit | 25.28× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $16.0M | $4.3M | ||
| Q2 25 | $9.4M | $4.0M | ||
| Q1 25 | $5.0M | — | ||
| Q4 24 | $8.5M | $5.8M | ||
| Q3 24 | $6.6M | $4.7M | ||
| Q2 24 | $14.2M | $7.0M | ||
| Q1 24 | $215.0K | $164.0K | ||
| Q4 23 | $21.4M | $16.9M |
| Q3 25 | $16.0M | $-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 | 14.1% | -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 | 0.0% | 5.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | 0.0% | 7.2% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 12.3% | ||
| Q4 23 | — | 10.0% |
| Q3 25 | 25.28× | — | ||
| Q2 25 | 3.79× | — | ||
| Q1 25 | 15.38× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 3.97× | — | ||
| Q1 24 | 0.05× | — | ||
| Q4 23 | 7.36× | 24.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DENN
| Franchisor Owned Outlet | $57.4M | 51% |
| Royalty | $27.7M | 25% |
| Advertising | $18.6M | 16% |
| Occupancy | $7.7M | 7% |
| Initial And Other Fees | $1.7M | 1% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
