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Side-by-side financial comparison of MEDIFAST INC (MED) 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 $75.1M, roughly 1.6× MEDIFAST INC). On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -36.9%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-6.6M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -34.4%).
Medifast, Inc. is an American nutrition and weight loss company based in Baltimore, Maryland. Medifast produces, distributes, and sells weight loss and health-related products through websites, multi-level marketing, telemarketing, and franchised weight loss clinics.
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.
MED vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $122.1M |
| Net Profit | — | $-9.2M |
| Gross Margin | 69.4% | — |
| Operating Margin | -10.4% | -5.2% |
| Net Margin | — | -7.5% |
| Revenue YoY | -36.9% | -4.1% |
| Net Profit YoY | — | 32.8% |
| EPS (diluted) | $-1.64 | $-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 | $75.1M | — | ||
| Q3 25 | $89.4M | $122.1M | ||
| Q2 25 | $105.6M | $123.8M | ||
| Q1 25 | $115.7M | — | ||
| Q4 24 | $119.0M | $122.8M | ||
| Q3 24 | $140.2M | $127.4M | ||
| Q2 24 | $168.6M | $121.4M | ||
| Q1 24 | $174.7M | $124.3M |
| Q4 25 | — | — | ||
| Q3 25 | $-2.3M | $-9.2M | ||
| Q2 25 | $2.5M | $-9.1M | ||
| Q1 25 | $-772.0K | — | ||
| Q4 24 | — | $-6.8M | ||
| Q3 24 | $1.1M | $-13.6M | ||
| Q2 24 | $-8.2M | $-6.1M | ||
| Q1 24 | $8.3M | $-6.1M |
| Q4 25 | 69.4% | — | ||
| Q3 25 | 69.5% | — | ||
| Q2 25 | 72.6% | — | ||
| Q1 25 | 72.8% | — | ||
| Q4 24 | 74.1% | — | ||
| Q3 24 | 75.4% | — | ||
| Q2 24 | 73.2% | — | ||
| Q1 24 | 72.8% | — |
| Q4 25 | -10.4% | — | ||
| Q3 25 | -4.6% | -5.2% | ||
| Q2 25 | -1.0% | -5.2% | ||
| Q1 25 | -1.1% | — | ||
| Q4 24 | 0.6% | -3.9% | ||
| Q3 24 | 1.5% | -9.0% | ||
| Q2 24 | -4.7% | -3.4% | ||
| Q1 24 | 4.5% | -3.7% |
| Q4 25 | — | — | ||
| Q3 25 | -2.5% | -7.5% | ||
| Q2 25 | 2.3% | -7.3% | ||
| Q1 25 | -0.7% | — | ||
| Q4 24 | — | -5.5% | ||
| Q3 24 | 0.8% | -10.7% | ||
| Q2 24 | -4.8% | -5.1% | ||
| Q1 24 | 4.8% | -4.9% |
| Q4 25 | $-1.64 | — | ||
| Q3 25 | $-0.21 | $-0.20 | ||
| Q2 25 | $0.22 | $-0.20 | ||
| Q1 25 | $-0.07 | — | ||
| Q4 24 | $0.08 | $-0.15 | ||
| Q3 24 | $0.10 | $-0.30 | ||
| Q2 24 | $-0.75 | $-0.14 | ||
| Q1 24 | $0.76 | $-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 | $167.3M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $198.9M | $-38.9M |
| Total Assets | $248.0M | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | — | ||
| Q3 25 | $173.5M | $4.7M | ||
| Q2 25 | $162.7M | $1.4M | ||
| Q1 25 | $164.6M | — | ||
| Q4 24 | $162.3M | $3.3M | ||
| Q3 24 | $170.0M | $1.8M | ||
| Q2 24 | $163.5M | $1.3M | ||
| Q1 24 | $156.4M | $3.0M |
| Q4 25 | $198.9M | — | ||
| Q3 25 | $214.7M | $-38.9M | ||
| Q2 25 | $216.0M | $-13.9M | ||
| Q1 25 | $211.0M | — | ||
| Q4 24 | $210.1M | $3.7M | ||
| Q3 24 | $207.3M | $9.6M | ||
| Q2 24 | $205.3M | $21.9M | ||
| Q1 24 | $211.0M | $27.2M |
| Q4 25 | $248.0M | — | ||
| Q3 25 | $268.2M | $280.6M | ||
| Q2 25 | $269.3M | $319.4M | ||
| Q1 25 | $280.0M | — | ||
| Q4 24 | $284.2M | $340.5M | ||
| Q3 24 | $291.2M | $346.3M | ||
| Q2 24 | $293.5M | $360.4M | ||
| Q1 24 | $302.8M | $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 | $-5.3M | $4.3M |
| Free Cash FlowOCF − Capex | $-6.6M | $-2.8M |
| FCF MarginFCF / Revenue | -8.8% | -2.3% |
| Capex IntensityCapex / Revenue | 1.8% | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.2M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.3M | — | ||
| Q3 25 | $12.1M | $4.3M | ||
| Q2 25 | $-3.4M | $4.0M | ||
| Q1 25 | $3.4M | — | ||
| Q4 24 | $-4.9M | $5.8M | ||
| Q3 24 | $9.1M | $4.7M | ||
| Q2 24 | $13.1M | $7.0M | ||
| Q1 24 | $7.3M | $164.0K |
| Q4 25 | $-6.6M | — | ||
| Q3 25 | $10.8M | $-2.8M | ||
| Q2 25 | $-4.8M | $1.1M | ||
| Q1 25 | $1.9M | — | ||
| Q4 24 | $-7.2M | $-1.3M | ||
| Q3 24 | $7.7M | $-4.5M | ||
| Q2 24 | $11.1M | $-1.6M | ||
| Q1 24 | $5.4M | $-15.2M |
| Q4 25 | -8.8% | — | ||
| Q3 25 | 12.0% | -2.3% | ||
| Q2 25 | -4.5% | 0.9% | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | -6.1% | -1.1% | ||
| Q3 24 | 5.5% | -3.5% | ||
| Q2 24 | 6.6% | -1.4% | ||
| Q1 24 | 3.1% | -12.2% |
| Q4 25 | 1.8% | — | ||
| Q3 25 | 1.5% | 5.8% | ||
| Q2 25 | 1.3% | 2.4% | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 1.9% | 5.8% | ||
| Q3 24 | 1.0% | 7.2% | ||
| Q2 24 | 1.1% | 7.1% | ||
| Q1 24 | 1.1% | 12.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1.36× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.04× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.88× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MED
Segment breakdown not available.
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
