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Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) 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 $114.8M, roughly 1.1× HA Sustainable Infrastructure Capital, Inc.). NOODLES & Co runs the higher net margin — -7.5% vs -46.8%, a 39.3% gap on every dollar of revenue. On growth, HA Sustainable Infrastructure Capital, Inc. posted the faster year-over-year revenue change (13.3% vs -4.1%). Over the past eight quarters, HA Sustainable Infrastructure Capital, Inc.'s revenue compounded faster (4.2% CAGR vs -1.2%).
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
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.
HASI vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $122.1M |
| Net Profit | $-53.8M | $-9.2M |
| Gross Margin | — | — |
| Operating Margin | -57.4% | -5.2% |
| Net Margin | -46.8% | -7.5% |
| Revenue YoY | 13.3% | -4.1% |
| Net Profit YoY | -176.7% | 32.8% |
| EPS (diluted) | $-0.38 | $-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 | $114.8M | — | ||
| Q3 25 | $103.1M | $122.1M | ||
| Q2 25 | $85.7M | $123.8M | ||
| Q1 25 | $96.9M | — | ||
| Q4 24 | $101.3M | $122.8M | ||
| Q3 24 | $82.0M | $127.4M | ||
| Q2 24 | $94.5M | $121.4M | ||
| Q1 24 | $105.8M | $124.3M |
| Q4 25 | $-53.8M | — | ||
| Q3 25 | $83.3M | $-9.2M | ||
| Q2 25 | $98.4M | $-9.1M | ||
| Q1 25 | $56.6M | — | ||
| Q4 24 | $70.1M | $-6.8M | ||
| Q3 24 | $-19.6M | $-13.6M | ||
| Q2 24 | $26.5M | $-6.1M | ||
| Q1 24 | $123.0M | $-6.1M |
| Q4 25 | -57.4% | — | ||
| Q3 25 | — | -5.2% | ||
| Q2 25 | — | -5.2% | ||
| Q1 25 | 84.7% | — | ||
| Q4 24 | 90.9% | -3.9% | ||
| Q3 24 | -32.1% | -9.0% | ||
| Q2 24 | 39.5% | -3.4% | ||
| Q1 24 | — | -3.7% |
| Q4 25 | -46.8% | — | ||
| Q3 25 | 80.8% | -7.5% | ||
| Q2 25 | 114.9% | -7.3% | ||
| Q1 25 | 58.4% | — | ||
| Q4 24 | 69.2% | -5.5% | ||
| Q3 24 | -23.9% | -10.7% | ||
| Q2 24 | 28.1% | -5.1% | ||
| Q1 24 | 116.3% | -4.9% |
| Q4 25 | $-0.38 | — | ||
| Q3 25 | $0.61 | $-0.20 | ||
| Q2 25 | $0.74 | $-0.20 | ||
| Q1 25 | $0.44 | — | ||
| Q4 24 | $0.58 | $-0.15 | ||
| Q3 24 | $-0.17 | $-0.30 | ||
| Q2 24 | $0.23 | $-0.14 | ||
| Q1 24 | $0.98 | $-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 | $110.2M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $-38.9M |
| Total Assets | $8.2B | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.2M | — | ||
| Q3 25 | $301.8M | $4.7M | ||
| Q2 25 | $86.5M | $1.4M | ||
| Q1 25 | $67.4M | — | ||
| Q4 24 | $129.8M | $3.3M | ||
| Q3 24 | $44.1M | $1.8M | ||
| Q2 24 | $145.7M | $1.3M | ||
| Q1 24 | $61.4M | $3.0M |
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.7B | $-38.9M | ||
| Q2 25 | $2.6B | $-13.9M | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.4B | $3.7M | ||
| Q3 24 | $2.3B | $9.6M | ||
| Q2 24 | $2.3B | $21.9M | ||
| Q1 24 | $2.3B | $27.2M |
| Q4 25 | $8.2B | — | ||
| Q3 25 | $8.2B | $280.6M | ||
| Q2 25 | $7.6B | $319.4M | ||
| Q1 25 | $7.5B | — | ||
| Q4 24 | $7.1B | $340.5M | ||
| Q3 24 | $6.7B | $346.3M | ||
| Q2 24 | $6.7B | $360.4M | ||
| Q1 24 | $6.7B | $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 | $167.3M | $4.3M |
| Free Cash FlowOCF − Capex | — | $-2.8M |
| FCF MarginFCF / Revenue | — | -2.3% |
| Capex IntensityCapex / Revenue | — | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | — | ||
| Q3 25 | $-121.8M | $4.3M | ||
| Q2 25 | $79.6M | $4.0M | ||
| Q1 25 | $-37.1M | — | ||
| Q4 24 | $5.9M | $5.8M | ||
| Q3 24 | $21.9M | $4.7M | ||
| Q2 24 | $-24.8M | $7.0M | ||
| Q1 24 | $20.9M | $164.0K |
| Q4 25 | — | — | ||
| 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 25 | — | — | ||
| 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 25 | — | — | ||
| 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 25 | — | — | ||
| Q3 25 | -1.46× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | -0.66× | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.94× | — | ||
| Q1 24 | 0.17× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HASI
Segment breakdown not available.
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
