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Side-by-side financial comparison of NOODLES & Co (NDLS) and PennyMac Mortgage Investment Trust (PMT). Click either name above to swap in a different company.
NOODLES & Co is the larger business by last-quarter revenue ($122.1M vs $93.6M, roughly 1.3× PennyMac Mortgage Investment Trust). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs -7.5%, a 63.5% gap on every dollar of revenue. On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -13.3%). Over the past eight quarters, PennyMac Mortgage Investment Trust's revenue compounded faster (12.3% 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.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
NDLS vs PMT — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $93.6M |
| Net Profit | $-9.2M | $52.4M |
| Gross Margin | — | — |
| Operating Margin | -5.2% | 38.6% |
| Net Margin | -7.5% | 56.0% |
| Revenue YoY | -4.1% | -13.3% |
| Net Profit YoY | 32.8% | 12.5% |
| EPS (diluted) | $-0.20 | $0.49 |
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 | — | $93.6M | ||
| Q3 25 | $122.1M | $99.2M | ||
| Q2 25 | $123.8M | $70.2M | ||
| Q1 25 | — | $44.5M | ||
| Q4 24 | $122.8M | $107.9M | ||
| Q3 24 | $127.4M | $80.9M | ||
| Q2 24 | $121.4M | $71.2M | ||
| Q1 24 | $124.3M | $74.2M |
| Q4 25 | — | $52.4M | ||
| Q3 25 | $-9.2M | $58.3M | ||
| Q2 25 | $-9.1M | $7.5M | ||
| Q1 25 | — | $9.7M | ||
| Q4 24 | $-6.8M | $46.5M | ||
| Q3 24 | $-13.6M | $41.4M | ||
| Q2 24 | $-6.1M | $25.4M | ||
| Q1 24 | $-6.1M | $47.6M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | -5.2% | 47.4% | ||
| Q2 25 | -5.2% | 24.2% | ||
| Q1 25 | — | -14.2% | ||
| Q4 24 | -3.9% | 51.1% | ||
| Q3 24 | -9.0% | 32.8% | ||
| Q2 24 | -3.4% | 40.2% | ||
| Q1 24 | -3.7% | 43.6% |
| Q4 25 | — | 56.0% | ||
| Q3 25 | -7.5% | 58.7% | ||
| Q2 25 | -7.3% | 10.7% | ||
| Q1 25 | — | 21.8% | ||
| Q4 24 | -5.5% | 43.1% | ||
| Q3 24 | -10.7% | 51.2% | ||
| Q2 24 | -5.1% | 35.7% | ||
| Q1 24 | -4.9% | 64.2% |
| Q4 25 | — | $0.49 | ||
| Q3 25 | $-0.20 | $0.55 | ||
| Q2 25 | $-0.20 | $-0.04 | ||
| Q1 25 | — | $-0.01 | ||
| Q4 24 | $-0.15 | $0.45 | ||
| Q3 24 | $-0.30 | $0.36 | ||
| Q2 24 | $-0.14 | $0.17 | ||
| Q1 24 | $-1.64 | $0.39 |
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 | $190.5M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $-38.9M | $1.9B |
| Total Assets | $280.6M | $21.3B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $190.5M | ||
| Q3 25 | $4.7M | $181.0M | ||
| Q2 25 | $1.4M | $108.6M | ||
| Q1 25 | — | $204.2M | ||
| Q4 24 | $3.3M | $103.2M | ||
| Q3 24 | $1.8M | $102.8M | ||
| Q2 24 | $1.3M | $336.3M | ||
| Q1 24 | $3.0M | $343.3M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $299.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $968.4M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.4B | ||
| Q1 24 | — | $5.1B |
| Q4 25 | — | $1.9B | ||
| Q3 25 | $-38.9M | $1.9B | ||
| Q2 25 | $-13.9M | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $3.7M | $1.9B | ||
| Q3 24 | $9.6M | $1.9B | ||
| Q2 24 | $21.9M | $1.9B | ||
| Q1 24 | $27.2M | $2.0B |
| Q4 25 | — | $21.3B | ||
| Q3 25 | $280.6M | $18.5B | ||
| Q2 25 | $319.4M | $16.8B | ||
| Q1 25 | — | $14.9B | ||
| Q4 24 | $340.5M | $14.4B | ||
| Q3 24 | $346.3M | $13.1B | ||
| Q2 24 | $360.4M | $12.1B | ||
| Q1 24 | $368.1M | $12.3B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 2.70× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 2.60× |
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 | $-7.2B |
| Free Cash FlowOCF − Capex | $-2.8M | — |
| FCF MarginFCF / Revenue | -2.3% | — |
| Capex IntensityCapex / Revenue | 5.8% | — |
| Cash ConversionOCF / Net Profit | — | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-7.2B | ||
| Q3 25 | $4.3M | $-1.3B | ||
| Q2 25 | $4.0M | $-2.0B | ||
| Q1 25 | — | $-594.3M | ||
| Q4 24 | $5.8M | $-2.7B | ||
| Q3 24 | $4.7M | $-983.8M | ||
| Q2 24 | $7.0M | $243.8M | ||
| Q1 24 | $164.0K | $-342.4M |
| Q4 25 | — | — | ||
| Q3 25 | $-2.8M | — | ||
| Q2 25 | $1.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-1.3M | — | ||
| Q3 24 | $-4.5M | — | ||
| Q2 24 | $-1.6M | — | ||
| Q1 24 | $-15.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | -2.3% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -1.1% | — | ||
| Q3 24 | -3.5% | — | ||
| Q2 24 | -1.4% | — | ||
| Q1 24 | -12.2% | — |
| Q4 25 | — | — | ||
| Q3 25 | 5.8% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 7.2% | — | ||
| Q2 24 | 7.1% | — | ||
| Q1 24 | 12.3% | — |
| Q4 25 | — | -137.76× | ||
| Q3 25 | — | -22.26× | ||
| Q2 25 | — | -267.53× | ||
| Q1 25 | — | -61.39× | ||
| Q4 24 | — | -58.08× | ||
| Q3 24 | — | -23.76× | ||
| Q2 24 | — | 9.59× | ||
| Q1 24 | — | -7.19× |
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% |
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
