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Side-by-side financial comparison of NOODLES & Co (NDLS) and PHOTRONICS INC (PLAB). Click either name above to swap in a different company.
PHOTRONICS INC is the larger business by last-quarter revenue ($210.4M vs $122.1M, roughly 1.7× NOODLES & Co). PHOTRONICS INC runs the higher net margin — 10.9% vs -7.5%, a 18.4% gap on every dollar of revenue. On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -5.5%). PHOTRONICS INC produced more free cash flow last quarter ($25.2M vs $-2.8M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -3.8%).
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.
Photronics, Inc. is an American semiconductor photomask manufacturer. It was the third largest photomask supplier globally as of 2009. Photronics is a member of the eBeam Initiative.
NDLS vs PLAB — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $210.4M |
| Net Profit | $-9.2M | $22.9M |
| Gross Margin | — | 33.7% |
| Operating Margin | -5.2% | 22.9% |
| Net Margin | -7.5% | 10.9% |
| Revenue YoY | -4.1% | -5.5% |
| Net Profit YoY | 32.8% | -32.4% |
| EPS (diluted) | $-0.20 | $0.39 |
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 | $122.1M | $210.4M | ||
| Q2 25 | $123.8M | $211.0M | ||
| Q1 25 | — | $212.1M | ||
| Q4 24 | $122.8M | $222.6M | ||
| Q3 24 | $127.4M | $211.0M | ||
| Q2 24 | $121.4M | $217.0M | ||
| Q1 24 | $124.3M | $216.3M | ||
| Q4 23 | $127.9M | $227.5M |
| Q3 25 | $-9.2M | $22.9M | ||
| Q2 25 | $-9.1M | $8.9M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | $-6.8M | $33.9M | ||
| Q3 24 | $-13.6M | $34.4M | ||
| Q2 24 | $-6.1M | $36.3M | ||
| Q1 24 | $-6.1M | $26.2M | ||
| Q4 23 | $700.0K | $44.6M |
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 36.9% | ||
| Q1 25 | — | 35.6% | ||
| Q4 24 | — | 37.0% | ||
| Q3 24 | — | 35.6% | ||
| Q2 24 | — | 36.5% | ||
| Q1 24 | — | 36.6% | ||
| Q4 23 | — | 37.3% |
| Q3 25 | -5.2% | 22.9% | ||
| Q2 25 | -5.2% | 26.4% | ||
| Q1 25 | — | 24.6% | ||
| Q4 24 | -3.9% | 25.1% | ||
| Q3 24 | -9.0% | 24.7% | ||
| Q2 24 | -3.4% | 25.8% | ||
| Q1 24 | -3.7% | 26.6% | ||
| Q4 23 | 1.6% | 28.5% |
| Q3 25 | -7.5% | 10.9% | ||
| Q2 25 | -7.3% | 4.2% | ||
| Q1 25 | — | 20.2% | ||
| Q4 24 | -5.5% | 15.2% | ||
| Q3 24 | -10.7% | 16.3% | ||
| Q2 24 | -5.1% | 16.7% | ||
| Q1 24 | -4.9% | 12.1% | ||
| Q4 23 | 0.5% | 19.6% |
| Q3 25 | $-0.20 | $0.39 | ||
| Q2 25 | $-0.20 | $0.15 | ||
| Q1 25 | — | $0.68 | ||
| Q4 24 | $-0.15 | $0.54 | ||
| Q3 24 | $-0.30 | $0.55 | ||
| Q2 24 | $-0.14 | $0.58 | ||
| Q1 24 | $-1.64 | $0.42 | ||
| Q4 23 | $0.02 | $0.71 |
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 | $575.8M |
| Total DebtLower is stronger | — | $16.0K |
| Stockholders' EquityBook value | $-38.9M | $1.1B |
| Total Assets | $280.6M | $1.8B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $4.7M | $575.8M | ||
| Q2 25 | $1.4M | $558.4M | ||
| Q1 25 | — | $642.2M | ||
| Q4 24 | $3.3M | $640.7M | ||
| Q3 24 | $1.8M | $606.4M | ||
| Q2 24 | $1.3M | $559.9M | ||
| Q1 24 | $3.0M | $521.5M | ||
| Q4 23 | $2.5M | $512.2M |
| Q3 25 | — | $16.0K | ||
| Q2 25 | — | $19.0K | ||
| Q1 25 | — | $21.0K | ||
| Q4 24 | — | $25.0K | ||
| Q3 24 | — | $28.0K | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $2.7M | ||
| Q4 23 | — | $18.0M |
| Q3 25 | $-38.9M | $1.1B | ||
| Q2 25 | $-13.9M | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $3.7M | $1.1B | ||
| Q3 24 | $9.6M | $1.1B | ||
| Q2 24 | $21.9M | $1.0B | ||
| Q1 24 | $27.2M | $1.0B | ||
| Q4 23 | $32.5M | $975.0M |
| Q3 25 | $280.6M | $1.8B | ||
| Q2 25 | $319.4M | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $340.5M | $1.7B | ||
| Q3 24 | $346.3M | $1.6B | ||
| Q2 24 | $360.4M | $1.6B | ||
| Q1 24 | $368.1M | $1.6B | ||
| Q4 23 | $368.8M | $1.5B |
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× | ||
| Q4 23 | — | 0.02× |
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 | $50.1M |
| Free Cash FlowOCF − Capex | $-2.8M | $25.2M |
| FCF MarginFCF / Revenue | -2.3% | 12.0% |
| Capex IntensityCapex / Revenue | 5.8% | 11.8% |
| Cash ConversionOCF / Net Profit | — | 2.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $64.5M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $4.3M | $50.1M | ||
| Q2 25 | $4.0M | $31.5M | ||
| Q1 25 | — | $78.5M | ||
| Q4 24 | $5.8M | $68.4M | ||
| Q3 24 | $4.7M | $75.1M | ||
| Q2 24 | $7.0M | $76.5M | ||
| Q1 24 | $164.0K | $41.5M | ||
| Q4 23 | $16.9M | $106.6M |
| Q3 25 | $-2.8M | $25.2M | ||
| Q2 25 | $1.1M | $-29.1M | ||
| Q1 25 | — | $43.3M | ||
| Q4 24 | $-1.3M | $25.2M | ||
| Q3 24 | $-4.5M | $50.7M | ||
| Q2 24 | $-1.6M | $56.5M | ||
| Q1 24 | $-15.2M | $-1.8M | ||
| Q4 23 | $4.1M | $54.1M |
| Q3 25 | -2.3% | 12.0% | ||
| Q2 25 | 0.9% | -13.8% | ||
| Q1 25 | — | 20.4% | ||
| Q4 24 | -1.1% | 11.3% | ||
| Q3 24 | -3.5% | 24.0% | ||
| Q2 24 | -1.4% | 26.0% | ||
| Q1 24 | -12.2% | -0.8% | ||
| Q4 23 | 3.2% | 23.8% |
| Q3 25 | 5.8% | 11.8% | ||
| Q2 25 | 2.4% | 28.7% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | 5.8% | 19.4% | ||
| Q3 24 | 7.2% | 11.6% | ||
| Q2 24 | 7.1% | 9.2% | ||
| Q1 24 | 12.3% | 20.0% | ||
| Q4 23 | 10.0% | 23.1% |
| Q3 25 | — | 2.19× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 1.83× | ||
| Q4 24 | — | 2.02× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | — | 2.11× | ||
| Q1 24 | — | 1.59× | ||
| Q4 23 | 24.21× | 2.39× |
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% |
PLAB
| High End Integrated Circuits | $53.6M | 25% |
| High End Flat Panel Displays | $53.5M | 25% |
| KR | $43.7M | 21% |
| Other | $42.1M | 20% |
| Mainstream Flat Panel Displays | $9.1M | 4% |
| Transferred At Point In Time | $8.4M | 4% |
