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Side-by-side financial comparison of James River Group Holdings, Inc. (JRVR) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
James River Group Holdings, Inc. is the larger business by last-quarter revenue ($167.7M vs $122.1M, roughly 1.4× NOODLES & Co). James River Group Holdings, Inc. runs the higher net margin — 19.1% vs -7.5%, a 26.6% gap on every dollar of revenue. On growth, James River Group Holdings, Inc. posted the faster year-over-year revenue change (32.4% vs -4.1%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-23.6M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -8.7%).
James River Corporation was an American pulp and paper company based in Richmond, Virginia, once the largest paper manufacturer in the world.
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.
JRVR vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $167.7M | $122.1M |
| Net Profit | $32.1M | $-9.2M |
| Gross Margin | — | — |
| Operating Margin | 14.6% | -5.2% |
| Net Margin | 19.1% | -7.5% |
| Revenue YoY | 32.4% | -4.1% |
| Net Profit YoY | 149.5% | 32.8% |
| EPS (diluted) | $0.59 | $-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 | $167.7M | — | ||
| Q3 25 | $172.7M | $122.1M | ||
| Q2 25 | $174.8M | $123.8M | ||
| Q1 25 | $172.3M | — | ||
| Q4 24 | $126.7M | $122.8M | ||
| Q3 24 | $191.5M | $127.4M | ||
| Q2 24 | $188.3M | $121.4M | ||
| Q1 24 | $201.1M | $124.3M |
| Q4 25 | $32.1M | — | ||
| Q3 25 | $1.0M | $-9.2M | ||
| Q2 25 | $4.8M | $-9.1M | ||
| Q1 25 | $9.6M | — | ||
| Q4 24 | $-64.8M | $-6.8M | ||
| Q3 24 | $-39.4M | $-13.6M | ||
| Q2 24 | $7.6M | $-6.1M | ||
| Q1 24 | $15.4M | $-6.1M |
| Q4 25 | 14.6% | — | ||
| Q3 25 | 1.5% | -5.2% | ||
| Q2 25 | 4.2% | -5.2% | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | -57.0% | -3.9% | ||
| Q3 24 | -27.1% | -9.0% | ||
| Q2 24 | 10.7% | -3.4% | ||
| Q1 24 | 16.4% | -3.7% |
| Q4 25 | 19.1% | — | ||
| Q3 25 | 0.6% | -7.5% | ||
| Q2 25 | 2.7% | -7.3% | ||
| Q1 25 | 5.6% | — | ||
| Q4 24 | -51.1% | -5.5% | ||
| Q3 24 | -20.6% | -10.7% | ||
| Q2 24 | 4.0% | -5.1% | ||
| Q1 24 | 7.7% | -4.9% |
| Q4 25 | $0.59 | — | ||
| Q3 25 | $-0.02 | $-0.20 | ||
| Q2 25 | $0.06 | $-0.20 | ||
| Q1 25 | $0.16 | — | ||
| Q4 24 | $-2.44 | $-0.15 | ||
| Q3 24 | $-1.10 | $-0.30 | ||
| Q2 24 | $0.13 | $-0.14 | ||
| Q1 24 | $0.35 | $-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 | $260.9M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $538.2M | $-38.9M |
| Total Assets | $4.9B | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $260.9M | — | ||
| Q3 25 | $238.8M | $4.7M | ||
| Q2 25 | $220.0M | $1.4M | ||
| Q1 25 | $279.4M | — | ||
| Q4 24 | $362.3M | $3.3M | ||
| Q3 24 | $359.8M | $1.8M | ||
| Q2 24 | $672.5M | $1.3M | ||
| Q1 24 | $305.5M | $3.0M |
| Q4 25 | $538.2M | — | ||
| Q3 25 | $503.6M | $-38.9M | ||
| Q2 25 | $492.6M | $-13.9M | ||
| Q1 25 | $484.5M | — | ||
| Q4 24 | $460.9M | $3.7M | ||
| Q3 24 | $530.3M | $9.6M | ||
| Q2 24 | $541.8M | $21.9M | ||
| Q1 24 | $539.5M | $27.2M |
| Q4 25 | $4.9B | — | ||
| Q3 25 | $5.0B | $280.6M | ||
| Q2 25 | $5.0B | $319.4M | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | $340.5M | ||
| Q3 24 | $5.0B | $346.3M | ||
| Q2 24 | $4.7B | $360.4M | ||
| Q1 24 | $5.3B | $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 | $-18.8M | $4.3M |
| Free Cash FlowOCF − Capex | $-23.6M | $-2.8M |
| FCF MarginFCF / Revenue | -14.1% | -2.3% |
| Capex IntensityCapex / Revenue | 2.9% | 5.8% |
| Cash ConversionOCF / Net Profit | -0.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-17.9M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.8M | — | ||
| Q3 25 | $34.3M | $4.3M | ||
| Q2 25 | $25.2M | $4.0M | ||
| Q1 25 | $-51.5M | — | ||
| Q4 24 | $-247.1M | $5.8M | ||
| Q3 24 | $-269.9M | $4.7M | ||
| Q2 24 | $-8.7M | $7.0M | ||
| Q1 24 | $24.1M | $164.0K |
| Q4 25 | $-23.6M | — | ||
| Q3 25 | $33.7M | $-2.8M | ||
| Q2 25 | $24.7M | $1.1M | ||
| Q1 25 | $-52.7M | — | ||
| Q4 24 | $-252.0M | $-1.3M | ||
| Q3 24 | $-270.8M | $-4.5M | ||
| Q2 24 | $-9.3M | $-1.6M | ||
| Q1 24 | $23.3M | $-15.2M |
| Q4 25 | -14.1% | — | ||
| Q3 25 | 19.5% | -2.3% | ||
| Q2 25 | 14.1% | 0.9% | ||
| Q1 25 | -30.6% | — | ||
| Q4 24 | -198.9% | -1.1% | ||
| Q3 24 | -141.4% | -3.5% | ||
| Q2 24 | -4.9% | -1.4% | ||
| Q1 24 | 11.6% | -12.2% |
| Q4 25 | 2.9% | — | ||
| Q3 25 | 0.4% | 5.8% | ||
| Q2 25 | 0.3% | 2.4% | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 3.9% | 5.8% | ||
| Q3 24 | 0.4% | 7.2% | ||
| Q2 24 | 0.3% | 7.1% | ||
| Q1 24 | 0.4% | 12.3% |
| Q4 25 | -0.59× | — | ||
| Q3 25 | 33.61× | — | ||
| Q2 25 | 5.29× | — | ||
| Q1 25 | -5.38× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.14× | — | ||
| Q1 24 | 1.56× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JRVR
| Excess And Surplus Lines | $156.7M | 93% |
| Specialty Admitted Insurance | $10.9M | 7% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
