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Side-by-side financial comparison of Ramaco Resources, Inc. (METC) 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 $121.0M, roughly 1.0× Ramaco Resources, Inc.). NOODLES & Co runs the higher net margin — -7.5% vs -11.0%, a 3.5% gap on every dollar of revenue. On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -27.7%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-17.5M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -22.7%).
Ramaco Resources, Inc. is a U.S.-based mining company focused on high-grade metallurgical coal production. It operates mining assets across the Appalachian region, supplying products to global steel manufacturing and industrial clients, with core operations centered on sustainable low-cost metallurgical coal extraction and distribution.
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.
METC vs NDLS — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $121.0M | $122.1M |
| Net Profit | $-13.3M | $-9.2M |
| Gross Margin | 15.8% | — |
| Operating Margin | -12.0% | -5.2% |
| Net Margin | -11.0% | -7.5% |
| Revenue YoY | -27.7% | -4.1% |
| Net Profit YoY | -5468.2% | 32.8% |
| EPS (diluted) | — | $-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 | $121.0M | $122.1M | ||
| Q2 25 | $153.0M | $123.8M | ||
| Q1 25 | $134.7M | — | ||
| Q4 24 | $170.9M | $122.8M | ||
| Q3 24 | $167.4M | $127.4M | ||
| Q2 24 | $155.3M | $121.4M | ||
| Q1 24 | $172.7M | $124.3M | ||
| Q4 23 | $202.7M | $127.9M |
| Q3 25 | $-13.3M | $-9.2M | ||
| Q2 25 | $-14.0M | $-9.1M | ||
| Q1 25 | $-9.5M | — | ||
| Q4 24 | $3.9M | $-6.8M | ||
| Q3 24 | $-239.0K | $-13.6M | ||
| Q2 24 | $5.5M | $-6.1M | ||
| Q1 24 | $2.0M | $-6.1M | ||
| Q4 23 | $30.0M | $700.0K |
| Q3 25 | 15.8% | — | ||
| Q2 25 | 12.3% | — | ||
| Q1 25 | 15.2% | — | ||
| Q4 24 | 20.4% | — | ||
| Q3 24 | 19.5% | — | ||
| Q2 24 | 21.0% | — | ||
| Q1 24 | 19.1% | — | ||
| Q4 23 | 31.2% | — |
| Q3 25 | -12.0% | -5.2% | ||
| Q2 25 | -9.1% | -5.2% | ||
| Q1 25 | -8.9% | — | ||
| Q4 24 | 3.7% | -3.9% | ||
| Q3 24 | 1.0% | -9.0% | ||
| Q2 24 | 3.5% | -3.4% | ||
| Q1 24 | 1.9% | -3.7% | ||
| Q4 23 | 18.4% | 1.6% |
| Q3 25 | -11.0% | -7.5% | ||
| Q2 25 | -9.1% | -7.3% | ||
| Q1 25 | -7.0% | — | ||
| Q4 24 | 2.3% | -5.5% | ||
| Q3 24 | -0.1% | -10.7% | ||
| Q2 24 | 3.6% | -5.1% | ||
| Q1 24 | 1.2% | -4.9% | ||
| Q4 23 | 14.8% | 0.5% |
| Q3 25 | — | $-0.20 | ||
| Q2 25 | — | $-0.20 | ||
| Q1 25 | — | — | ||
| Q4 24 | $0.06 | $-0.15 | ||
| Q3 24 | $-0.03 | $-0.30 | ||
| Q2 24 | $0.08 | $-0.14 | ||
| Q1 24 | $0.00 | $-1.64 | ||
| Q4 23 | $0.59 | $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 | $193.8M | $4.7M |
| Total DebtLower is stronger | $116.3M | — |
| Stockholders' EquityBook value | $526.9M | $-38.9M |
| Total Assets | $849.7M | $280.6M |
| Debt / EquityLower = less leverage | 0.22× | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $193.8M | $4.7M | ||
| Q2 25 | $28.1M | $1.4M | ||
| Q1 25 | $43.5M | — | ||
| Q4 24 | $33.0M | $3.3M | ||
| Q3 24 | $22.9M | $1.8M | ||
| Q2 24 | $27.6M | $1.3M | ||
| Q1 24 | $30.5M | $3.0M | ||
| Q4 23 | $42.0M | $2.5M |
| Q3 25 | $116.3M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $88.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $91.4M | — |
| Q3 25 | $526.9M | $-38.9M | ||
| Q2 25 | $347.4M | $-13.9M | ||
| Q1 25 | $355.2M | — | ||
| Q4 24 | $362.8M | $3.7M | ||
| Q3 24 | $361.8M | $9.6M | ||
| Q2 24 | $366.1M | $21.9M | ||
| Q1 24 | $372.3M | $27.2M | ||
| Q4 23 | $369.6M | $32.5M |
| Q3 25 | $849.7M | $280.6M | ||
| Q2 25 | $674.6M | $319.4M | ||
| Q1 25 | $685.7M | — | ||
| Q4 24 | $674.7M | $340.5M | ||
| Q3 24 | $645.4M | $346.3M | ||
| Q2 24 | $659.2M | $360.4M | ||
| Q1 24 | $674.0M | $368.1M | ||
| Q4 23 | $665.8M | $368.8M |
| Q3 25 | 0.22× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.24× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 0.25× | — |
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 | $-1.4M | $4.3M |
| Free Cash FlowOCF − Capex | $-17.5M | $-2.8M |
| FCF MarginFCF / Revenue | -14.5% | -2.3% |
| Capex IntensityCapex / Revenue | 13.3% | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-24.7M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-1.4M | $4.3M | ||
| Q2 25 | $-4.3M | $4.0M | ||
| Q1 25 | $26.0M | — | ||
| Q4 24 | $15.7M | $5.8M | ||
| Q3 24 | $37.4M | $4.7M | ||
| Q2 24 | $34.4M | $7.0M | ||
| Q1 24 | $25.2M | $164.0K | ||
| Q4 23 | $41.6M | $16.9M |
| Q3 25 | $-17.5M | $-2.8M | ||
| Q2 25 | $-19.8M | $1.1M | ||
| Q1 25 | $7.6M | — | ||
| Q4 24 | $5.1M | $-1.3M | ||
| Q3 24 | $25.6M | $-4.5M | ||
| Q2 24 | $20.3M | $-1.6M | ||
| Q1 24 | $6.5M | $-15.2M | ||
| Q4 23 | $23.6M | $4.1M |
| Q3 25 | -14.5% | -2.3% | ||
| Q2 25 | -13.0% | 0.9% | ||
| Q1 25 | 5.6% | — | ||
| Q4 24 | 3.0% | -1.1% | ||
| Q3 24 | 15.3% | -3.5% | ||
| Q2 24 | 13.1% | -1.4% | ||
| Q1 24 | 3.7% | -12.2% | ||
| Q4 23 | 11.6% | 3.2% |
| Q3 25 | 13.3% | 5.8% | ||
| Q2 25 | 10.2% | 2.4% | ||
| Q1 25 | 13.7% | — | ||
| Q4 24 | 6.2% | 5.8% | ||
| Q3 24 | 7.0% | 7.2% | ||
| Q2 24 | 9.1% | 7.1% | ||
| Q1 24 | 10.8% | 12.3% | ||
| Q4 23 | 8.9% | 10.0% |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.06× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.21× | — | ||
| Q1 24 | 12.40× | — | ||
| Q4 23 | 1.38× | 24.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
METC
| Export Coal Revenues | $73.0M | 60% |
| Domestic Coal Revenues | $48.0M | 40% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
