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Side-by-side financial comparison of NOODLES & Co (NDLS) and OLAPLEX HOLDINGS, INC. (OLPX). Click either name above to swap in a different company.
NOODLES & Co is the larger business by last-quarter revenue ($122.1M vs $105.1M, roughly 1.2× OLAPLEX HOLDINGS, INC.). NOODLES & Co runs the higher net margin — -7.5% vs -12.5%, a 5.0% gap on every dollar of revenue. On growth, OLAPLEX HOLDINGS, INC. posted the faster year-over-year revenue change (4.3% vs -4.1%). OLAPLEX HOLDINGS, INC. produced more free cash flow last quarter ($32.6M vs $-2.8M). Over the past eight quarters, OLAPLEX HOLDINGS, INC.'s revenue compounded faster (3.1% 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.
Olaplex Holdings, Inc. is a specialty beauty company developing and selling patented bond-repair hair care products. It runs three core segments: professional salon distribution, direct-to-consumer sales, and third-party retail, serving customers across North America, Europe, and Asia-Pacific with products that repair and protect damaged hair.
NDLS vs OLPX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $105.1M |
| Net Profit | $-9.2M | $-13.1M |
| Gross Margin | — | 68.0% |
| Operating Margin | -5.2% | -4.3% |
| Net Margin | -7.5% | -12.5% |
| Revenue YoY | -4.1% | 4.3% |
| Net Profit YoY | 32.8% | -48.9% |
| EPS (diluted) | $-0.20 | $-0.02 |
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 | — | $105.1M | ||
| Q3 25 | $122.1M | $114.6M | ||
| Q2 25 | $123.8M | $106.3M | ||
| Q1 25 | — | $97.0M | ||
| Q4 24 | $122.8M | $100.7M | ||
| Q3 24 | $127.4M | $119.1M | ||
| Q2 24 | $121.4M | $103.9M | ||
| Q1 24 | $124.3M | $98.9M |
| Q4 25 | — | $-13.1M | ||
| Q3 25 | $-9.2M | $11.1M | ||
| Q2 25 | $-9.1M | $-7.7M | ||
| Q1 25 | — | $465.0K | ||
| Q4 24 | $-6.8M | $-8.8M | ||
| Q3 24 | $-13.6M | $14.8M | ||
| Q2 24 | $-6.1M | $5.8M | ||
| Q1 24 | $-6.1M | $7.7M |
| Q4 25 | — | 68.0% | ||
| Q3 25 | — | 69.1% | ||
| Q2 25 | — | 71.2% | ||
| Q1 25 | — | 69.5% | ||
| Q4 24 | — | 66.3% | ||
| Q3 24 | — | 68.6% | ||
| Q2 24 | — | 69.7% | ||
| Q1 24 | — | 72.1% |
| Q4 25 | — | -4.3% | ||
| Q3 25 | -5.2% | 3.7% | ||
| Q2 25 | -5.2% | -1.1% | ||
| Q1 25 | — | 8.7% | ||
| Q4 24 | -3.9% | 3.0% | ||
| Q3 24 | -9.0% | 23.5% | ||
| Q2 24 | -3.4% | 15.7% | ||
| Q1 24 | -3.7% | 19.8% |
| Q4 25 | — | -12.5% | ||
| Q3 25 | -7.5% | 9.7% | ||
| Q2 25 | -7.3% | -7.3% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | -5.5% | -8.7% | ||
| Q3 24 | -10.7% | 12.4% | ||
| Q2 24 | -5.1% | 5.6% | ||
| Q1 24 | -4.9% | 7.8% |
| Q4 25 | — | $-0.02 | ||
| Q3 25 | $-0.20 | $0.02 | ||
| Q2 25 | $-0.20 | $-0.01 | ||
| Q1 25 | — | $0.00 | ||
| Q4 24 | $-0.15 | $-0.01 | ||
| Q3 24 | $-0.30 | $0.02 | ||
| Q2 24 | $-0.14 | $0.01 | ||
| Q1 24 | $-1.64 | $0.01 |
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 | $318.7M |
| Total DebtLower is stronger | — | $352.3M |
| Stockholders' EquityBook value | $-38.9M | $879.4M |
| Total Assets | $280.6M | $1.5B |
| Debt / EquityLower = less leverage | — | 0.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $318.7M | ||
| Q3 25 | $4.7M | $286.4M | ||
| Q2 25 | $1.4M | $289.3M | ||
| Q1 25 | — | $580.9M | ||
| Q4 24 | $3.3M | $586.0M | ||
| Q3 24 | $1.8M | $538.8M | ||
| Q2 24 | $1.3M | $507.9M | ||
| Q1 24 | $3.0M | $507.5M |
| Q4 25 | — | $352.3M | ||
| Q3 25 | — | $352.1M | ||
| Q2 25 | — | $351.9M | ||
| Q1 25 | — | $649.1M | ||
| Q4 24 | — | $650.5M | ||
| Q3 24 | — | $651.8M | ||
| Q2 24 | — | $653.1M | ||
| Q1 24 | — | $654.4M |
| Q4 25 | — | $879.4M | ||
| Q3 25 | $-38.9M | $888.7M | ||
| Q2 25 | $-13.9M | $874.2M | ||
| Q1 25 | — | $878.3M | ||
| Q4 24 | $3.7M | $874.4M | ||
| Q3 24 | $9.6M | $879.7M | ||
| Q2 24 | $21.9M | $863.3M | ||
| Q1 24 | $27.2M | $855.7M |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $280.6M | $1.5B | ||
| Q2 25 | $319.4M | $1.5B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $340.5M | $1.8B | ||
| Q3 24 | $346.3M | $1.8B | ||
| Q2 24 | $360.4M | $1.8B | ||
| Q1 24 | $368.1M | $1.8B |
| Q4 25 | — | 0.40× | ||
| Q3 25 | — | 0.40× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.76× |
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 | $32.7M |
| Free Cash FlowOCF − Capex | $-2.8M | $32.6M |
| FCF MarginFCF / Revenue | -2.3% | 31.0% |
| Capex IntensityCapex / Revenue | 5.8% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $58.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $32.7M | ||
| Q3 25 | $4.3M | $8.0M | ||
| Q2 25 | $4.0M | $20.9M | ||
| Q1 25 | — | $-2.9M | ||
| Q4 24 | $5.8M | $49.7M | ||
| Q3 24 | $4.7M | $33.5M | ||
| Q2 24 | $7.0M | $16.2M | ||
| Q1 24 | $164.0K | $43.7M |
| Q4 25 | — | $32.6M | ||
| Q3 25 | $-2.8M | $7.9M | ||
| Q2 25 | $1.1M | $20.8M | ||
| Q1 25 | — | $-3.0M | ||
| Q4 24 | $-1.3M | $49.2M | ||
| Q3 24 | $-4.5M | $33.3M | ||
| Q2 24 | $-1.6M | $16.1M | ||
| Q1 24 | $-15.2M | $43.3M |
| Q4 25 | — | 31.0% | ||
| Q3 25 | -2.3% | 6.9% | ||
| Q2 25 | 0.9% | 19.6% | ||
| Q1 25 | — | -3.1% | ||
| Q4 24 | -1.1% | 48.9% | ||
| Q3 24 | -3.5% | 28.0% | ||
| Q2 24 | -1.4% | 15.5% | ||
| Q1 24 | -12.2% | 43.7% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | 5.8% | 0.1% | ||
| Q2 25 | 2.4% | 0.1% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 5.8% | 0.4% | ||
| Q3 24 | 7.2% | 0.1% | ||
| Q2 24 | 7.1% | 0.1% | ||
| Q1 24 | 12.3% | 0.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.27× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.26× | ||
| Q2 24 | — | 2.81× | ||
| Q1 24 | — | 5.64× |
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% |
OLPX
| Sales Channel Directly To Consumer | $43.6M | 42% |
| Sales Channel Through Intermediary Professional | $36.8M | 35% |
| Sales Channel Through Intermediary Specialty Retail | $24.7M | 23% |
