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Side-by-side financial comparison of NOODLES & Co (NDLS) and Nutex Health, Inc. (NUTX). Click either name above to swap in a different company.
Nutex Health, Inc. is the larger business by last-quarter revenue ($151.7M vs $122.1M, roughly 1.2× NOODLES & Co). Nutex Health, Inc. runs the higher net margin — 7.8% vs -7.5%, a 15.3% gap on every dollar of revenue. On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -41.1%). Nutex Health, Inc. produced more free cash flow last quarter ($69.0M vs $-2.8M). Over the past eight quarters, Nutex Health, Inc.'s revenue compounded faster (50.0% CAGR vs -1.2%).
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.
Nutex Health Inc. is an American for-profit health care company and operator of healthcare facilities headquartered in Houston, Texas.
NDLS vs NUTX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $151.7M |
| Net Profit | $-9.2M | $11.8M |
| Gross Margin | — | 30.4% |
| Operating Margin | -5.2% | 20.4% |
| Net Margin | -7.5% | 7.8% |
| Revenue YoY | -4.1% | -41.1% |
| Net Profit YoY | 32.8% | -80.8% |
| EPS (diluted) | $-0.20 | $2.34 |
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 | — | $151.7M | ||
| Q3 25 | $122.1M | $267.8M | ||
| Q2 25 | $123.8M | $244.0M | ||
| Q1 25 | — | $211.8M | ||
| Q4 24 | $122.8M | $257.6M | ||
| Q3 24 | $127.4M | $78.8M | ||
| Q2 24 | $121.4M | $76.1M | ||
| Q1 24 | $124.3M | $67.5M |
| Q4 25 | — | $11.8M | ||
| Q3 25 | $-9.2M | $55.4M | ||
| Q2 25 | $-9.1M | $-17.7M | ||
| Q1 25 | — | $21.2M | ||
| Q4 24 | $-6.8M | $61.6M | ||
| Q3 24 | $-13.6M | $-8.8M | ||
| Q2 24 | $-6.1M | $-364.0K | ||
| Q1 24 | $-6.1M | $-364.0K |
| Q4 25 | — | 30.4% | ||
| Q3 25 | — | 57.8% | ||
| Q2 25 | — | 51.2% | ||
| Q1 25 | — | 55.9% | ||
| Q4 24 | — | 55.0% | ||
| Q3 24 | — | 27.8% | ||
| Q2 24 | — | 29.7% | ||
| Q1 24 | — | 15.1% |
| Q4 25 | — | 20.4% | ||
| Q3 25 | -5.2% | 48.7% | ||
| Q2 25 | -5.2% | 13.8% | ||
| Q1 25 | — | 38.1% | ||
| Q4 24 | -3.9% | 44.4% | ||
| Q3 24 | -9.0% | 12.3% | ||
| Q2 24 | -3.4% | 7.0% | ||
| Q1 24 | -3.7% | 2.1% |
| Q4 25 | — | 7.8% | ||
| Q3 25 | -7.5% | 20.7% | ||
| Q2 25 | -7.3% | -7.3% | ||
| Q1 25 | — | 10.0% | ||
| Q4 24 | -5.5% | 23.9% | ||
| Q3 24 | -10.7% | -11.2% | ||
| Q2 24 | -5.1% | -0.5% | ||
| Q1 24 | -4.9% | -0.5% |
| Q4 25 | — | $2.34 | ||
| Q3 25 | $-0.20 | $7.76 | ||
| Q2 25 | $-0.20 | $-2.95 | ||
| Q1 25 | — | $3.33 | ||
| Q4 24 | $-0.15 | $11.56 | ||
| Q3 24 | $-0.30 | $-1.72 | ||
| Q2 24 | $-0.14 | $-0.07 | ||
| Q1 24 | $-1.64 | $-0.08 |
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 | $185.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-38.9M | $329.4M |
| Total Assets | $280.6M | $918.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $185.6M | ||
| Q3 25 | $4.7M | $166.0M | ||
| Q2 25 | $1.4M | $96.7M | ||
| Q1 25 | — | $84.7M | ||
| Q4 24 | $3.3M | $40.6M | ||
| Q3 24 | $1.8M | $46.9M | ||
| Q2 24 | $1.3M | $40.8M | ||
| Q1 24 | $3.0M | $30.0M |
| Q4 25 | — | $329.4M | ||
| Q3 25 | $-38.9M | $317.2M | ||
| Q2 25 | $-13.9M | $235.3M | ||
| Q1 25 | — | $176.9M | ||
| Q4 24 | $3.7M | $132.4M | ||
| Q3 24 | $9.6M | $60.4M | ||
| Q2 24 | $21.9M | $62.7M | ||
| Q1 24 | $27.2M | $63.0M |
| Q4 25 | — | $918.5M | ||
| Q3 25 | $280.6M | $964.5M | ||
| Q2 25 | $319.4M | $841.0M | ||
| Q1 25 | — | $761.9M | ||
| Q4 24 | $340.5M | $655.3M | ||
| Q3 24 | $346.3M | $438.5M | ||
| Q2 24 | $360.4M | $422.4M | ||
| Q1 24 | $368.1M | $404.3M |
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 | $4.3M | $70.4M |
| Free Cash FlowOCF − Capex | $-2.8M | $69.0M |
| FCF MarginFCF / Revenue | -2.3% | 45.5% |
| Capex IntensityCapex / Revenue | 5.8% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 5.95× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $245.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $70.4M | ||
| Q3 25 | $4.3M | $99.5M | ||
| Q2 25 | $4.0M | $27.3M | ||
| Q1 25 | — | $51.0M | ||
| Q4 24 | $5.8M | $54.0K | ||
| Q3 24 | $4.7M | $6.8M | ||
| Q2 24 | $7.0M | $13.3M | ||
| Q1 24 | $164.0K | $3.1M |
| Q4 25 | — | $69.0M | ||
| Q3 25 | $-2.8M | $99.2M | ||
| Q2 25 | $1.1M | $26.5M | ||
| Q1 25 | — | $50.9M | ||
| Q4 24 | $-1.3M | $-341.0K | ||
| Q3 24 | $-4.5M | $6.2M | ||
| Q2 24 | $-1.6M | $12.7M | ||
| Q1 24 | $-15.2M | $2.3M |
| Q4 25 | — | 45.5% | ||
| Q3 25 | -2.3% | 37.0% | ||
| Q2 25 | 0.9% | 10.9% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | -1.1% | -0.1% | ||
| Q3 24 | -3.5% | 7.8% | ||
| Q2 24 | -1.4% | 16.7% | ||
| Q1 24 | -12.2% | 3.4% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | 5.8% | 0.1% | ||
| Q2 25 | 2.4% | 0.3% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 5.8% | 0.2% | ||
| Q3 24 | 7.2% | 0.8% | ||
| Q2 24 | 7.1% | 0.7% | ||
| Q1 24 | 12.3% | 1.1% |
| Q4 25 | — | 5.95× | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.40× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
NUTX
| Hospital Division | $143.7M | 95% |
| Population Health Management Division | $8.0M | 5% |
