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Side-by-side financial comparison of NOODLES & Co (NDLS) and OFG BANCORP (OFG). Click either name above to swap in a different company.
OFG BANCORP is the larger business by last-quarter revenue ($184.3M vs $122.1M, roughly 1.5× NOODLES & Co). OFG BANCORP runs the higher net margin — 30.3% vs -7.5%, a 37.8% gap on every dollar of revenue. On growth, OFG BANCORP posted the faster year-over-year revenue change (0.9% vs -4.1%). OFG BANCORP produced more free cash flow last quarter ($199.3M vs $-2.8M). Over the past eight quarters, OFG BANCORP's revenue compounded faster (2.8% 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.
OFG Bancorp, founded in 1964, is the financial holding company for Oriental Bank, located in San Juan, Puerto Rico. OFG offers a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico and the U.S. Virgin Islands through its principal subsidiaries: Oriental Bank, Oriental Financial Services LLC, and Oriental Insurance LLC. Its headquarters are located at Oriental Center, 254 Muñoz Rivera Avenue, San Juan, PR 00918....
NDLS vs OFG — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $184.3M |
| Net Profit | $-9.2M | $55.9M |
| Gross Margin | — | — |
| Operating Margin | -5.2% | 25.7% |
| Net Margin | -7.5% | 30.3% |
| Revenue YoY | -4.1% | 0.9% |
| Net Profit YoY | 32.8% | 11.0% |
| EPS (diluted) | $-0.20 | $1.27 |
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 | — | $184.3M | ||
| Q3 25 | $122.1M | $186.2M | ||
| Q2 25 | $123.8M | $182.4M | ||
| Q1 25 | — | $178.6M | ||
| Q4 24 | $122.8M | $182.7M | ||
| Q3 24 | $127.4M | $174.7M | ||
| Q2 24 | $121.4M | $179.8M | ||
| Q1 24 | $124.3M | $174.4M |
| Q4 25 | — | $55.9M | ||
| Q3 25 | $-9.2M | $51.8M | ||
| Q2 25 | $-9.1M | $51.8M | ||
| Q1 25 | — | $45.6M | ||
| Q4 24 | $-6.8M | $50.3M | ||
| Q3 24 | $-13.6M | $47.0M | ||
| Q2 24 | $-6.1M | $51.1M | ||
| Q1 24 | $-6.1M | $49.7M |
| Q4 25 | — | 25.7% | ||
| Q3 25 | -5.2% | 33.0% | ||
| Q2 25 | -5.2% | 36.1% | ||
| Q1 25 | — | 33.3% | ||
| Q4 24 | -3.9% | 28.9% | ||
| Q3 24 | -9.0% | 35.4% | ||
| Q2 24 | -3.4% | 39.6% | ||
| Q1 24 | -3.7% | 38.9% |
| Q4 25 | — | 30.3% | ||
| Q3 25 | -7.5% | 27.8% | ||
| Q2 25 | -7.3% | 28.4% | ||
| Q1 25 | — | 25.5% | ||
| Q4 24 | -5.5% | 27.6% | ||
| Q3 24 | -10.7% | 26.9% | ||
| Q2 24 | -5.1% | 28.4% | ||
| Q1 24 | -4.9% | 28.5% |
| Q4 25 | — | $1.27 | ||
| Q3 25 | $-0.20 | $1.16 | ||
| Q2 25 | $-0.20 | $1.15 | ||
| Q1 25 | — | $1.00 | ||
| Q4 24 | $-0.15 | $1.10 | ||
| Q3 24 | $-0.30 | $1.00 | ||
| Q2 24 | $-0.14 | $1.08 | ||
| Q1 24 | $-1.64 | $1.05 |
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 | $1.0B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-38.9M | $1.4B |
| Total Assets | $280.6M | $12.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.0B | ||
| Q3 25 | $4.7M | $740.3M | ||
| Q2 25 | $1.4M | $851.8M | ||
| Q1 25 | — | $710.6M | ||
| Q4 24 | $3.3M | $591.1M | ||
| Q3 24 | $1.8M | $680.6M | ||
| Q2 24 | $1.3M | $740.4M | ||
| Q1 24 | $3.0M | $754.4M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $-38.9M | $1.4B | ||
| Q2 25 | $-13.9M | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $3.7M | $1.3B | ||
| Q3 24 | $9.6M | $1.3B | ||
| Q2 24 | $21.9M | $1.2B | ||
| Q1 24 | $27.2M | $1.2B |
| Q4 25 | — | $12.5B | ||
| Q3 25 | $280.6M | $12.2B | ||
| Q2 25 | $319.4M | $12.2B | ||
| Q1 25 | — | $11.7B | ||
| Q4 24 | $340.5M | $11.5B | ||
| Q3 24 | $346.3M | $11.5B | ||
| Q2 24 | $360.4M | $11.3B | ||
| Q1 24 | $368.1M | $11.2B |
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 | $217.7M |
| Free Cash FlowOCF − Capex | $-2.8M | $199.3M |
| FCF MarginFCF / Revenue | -2.3% | 108.1% |
| Capex IntensityCapex / Revenue | 5.8% | 10.0% |
| Cash ConversionOCF / Net Profit | — | 3.90× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $345.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $217.7M | ||
| Q3 25 | $4.3M | $39.5M | ||
| Q2 25 | $4.0M | $35.9M | ||
| Q1 25 | — | $83.1M | ||
| Q4 24 | $5.8M | $252.5M | ||
| Q3 24 | $4.7M | $58.1M | ||
| Q2 24 | $7.0M | $95.1M | ||
| Q1 24 | $164.0K | $61.0M |
| Q4 25 | — | $199.3M | ||
| Q3 25 | $-2.8M | $35.5M | ||
| Q2 25 | $1.1M | $31.8M | ||
| Q1 25 | — | $78.7M | ||
| Q4 24 | $-1.3M | $231.2M | ||
| Q3 24 | $-4.5M | $51.8M | ||
| Q2 24 | $-1.6M | $90.4M | ||
| Q1 24 | $-15.2M | $54.8M |
| Q4 25 | — | 108.1% | ||
| Q3 25 | -2.3% | 19.1% | ||
| Q2 25 | 0.9% | 17.4% | ||
| Q1 25 | — | 44.1% | ||
| Q4 24 | -1.1% | 126.5% | ||
| Q3 24 | -3.5% | 29.6% | ||
| Q2 24 | -1.4% | 50.3% | ||
| Q1 24 | -12.2% | 31.4% |
| Q4 25 | — | 10.0% | ||
| Q3 25 | 5.8% | 2.1% | ||
| Q2 25 | 2.4% | 2.3% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | 5.8% | 11.7% | ||
| Q3 24 | 7.2% | 3.6% | ||
| Q2 24 | 7.1% | 2.6% | ||
| Q1 24 | 12.3% | 3.5% |
| Q4 25 | — | 3.90× | ||
| Q3 25 | — | 0.76× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | — | 5.02× | ||
| Q3 24 | — | 1.24× | ||
| Q2 24 | — | 1.86× | ||
| Q1 24 | — | 1.23× |
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% |
OFG
Segment breakdown not available.
