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Side-by-side financial comparison of NOODLES & Co (NDLS) and CPI Card Group Inc. (PMTS). Click either name above to swap in a different company.
CPI Card Group Inc. is the larger business by last-quarter revenue ($153.1M vs $122.1M, roughly 1.3× NOODLES & Co). CPI Card Group Inc. runs the higher net margin — 4.8% vs -7.5%, a 12.3% gap on every dollar of revenue. On growth, CPI Card Group Inc. posted the faster year-over-year revenue change (22.3% vs -4.1%). CPI Card Group Inc. produced more free cash flow last quarter ($35.2M vs $-2.8M). Over the past eight quarters, CPI Card Group Inc.'s revenue compounded faster (16.9% 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.
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
NDLS vs PMTS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $153.1M |
| Net Profit | $-9.2M | $7.3M |
| Gross Margin | — | 31.5% |
| Operating Margin | -5.2% | 12.0% |
| Net Margin | -7.5% | 4.8% |
| Revenue YoY | -4.1% | 22.3% |
| Net Profit YoY | 32.8% | 8.5% |
| EPS (diluted) | $-0.20 | $0.62 |
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 | — | $153.1M | ||
| Q3 25 | $122.1M | $138.0M | ||
| Q2 25 | $123.8M | $129.8M | ||
| Q1 25 | — | $122.8M | ||
| Q4 24 | $122.8M | $125.1M | ||
| Q3 24 | $127.4M | $124.8M | ||
| Q2 24 | $121.4M | $118.8M | ||
| Q1 24 | $124.3M | $111.9M |
| Q4 25 | — | $7.3M | ||
| Q3 25 | $-9.2M | $2.3M | ||
| Q2 25 | $-9.1M | $518.0K | ||
| Q1 25 | — | $4.8M | ||
| Q4 24 | $-6.8M | $6.8M | ||
| Q3 24 | $-13.6M | $1.3M | ||
| Q2 24 | $-6.1M | $6.0M | ||
| Q1 24 | $-6.1M | $5.5M |
| Q4 25 | — | 31.5% | ||
| Q3 25 | — | 29.7% | ||
| Q2 25 | — | 30.9% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 37.1% |
| Q4 25 | — | 12.0% | ||
| Q3 25 | -5.2% | 9.4% | ||
| Q2 25 | -5.2% | 7.3% | ||
| Q1 25 | — | 11.5% | ||
| Q4 24 | -3.9% | 12.7% | ||
| Q3 24 | -9.0% | 14.3% | ||
| Q2 24 | -3.4% | 12.5% | ||
| Q1 24 | -3.7% | 12.6% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | -7.5% | 1.7% | ||
| Q2 25 | -7.3% | 0.4% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | -5.5% | 5.4% | ||
| Q3 24 | -10.7% | 1.0% | ||
| Q2 24 | -5.1% | 5.1% | ||
| Q1 24 | -4.9% | 4.9% |
| Q4 25 | — | $0.62 | ||
| Q3 25 | $-0.20 | $0.19 | ||
| Q2 25 | $-0.20 | $0.04 | ||
| Q1 25 | — | $0.40 | ||
| Q4 24 | $-0.15 | $0.56 | ||
| Q3 24 | $-0.30 | $0.11 | ||
| Q2 24 | $-0.14 | $0.51 | ||
| Q1 24 | $-1.64 | $0.46 |
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 | $21.7M |
| Total DebtLower is stronger | — | $286.7M |
| Stockholders' EquityBook value | $-38.9M | $-17.3M |
| Total Assets | $280.6M | $403.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $21.7M | ||
| Q3 25 | $4.7M | $16.0M | ||
| Q2 25 | $1.4M | $17.1M | ||
| Q1 25 | — | $31.5M | ||
| Q4 24 | $3.3M | $33.5M | ||
| Q3 24 | $1.8M | $14.7M | ||
| Q2 24 | $1.3M | $7.5M | ||
| Q1 24 | $3.0M | $17.1M |
| Q4 25 | — | $286.7M | ||
| Q3 25 | — | $308.4M | ||
| Q2 25 | — | $310.9M | ||
| Q1 25 | — | $280.7M | ||
| Q4 24 | — | $280.4M | ||
| Q3 24 | — | $280.2M | ||
| Q2 24 | — | $269.7M | ||
| Q1 24 | — | $265.3M |
| Q4 25 | — | $-17.3M | ||
| Q3 25 | $-38.9M | $-25.7M | ||
| Q2 25 | $-13.9M | $-29.0M | ||
| Q1 25 | — | $-29.7M | ||
| Q4 24 | $3.7M | $-35.6M | ||
| Q3 24 | $9.6M | $-42.8M | ||
| Q2 24 | $21.9M | $-44.6M | ||
| Q1 24 | $27.2M | $-48.5M |
| Q4 25 | — | $403.2M | ||
| Q3 25 | $280.6M | $407.1M | ||
| Q2 25 | $319.4M | $399.8M | ||
| Q1 25 | — | $351.9M | ||
| Q4 24 | $340.5M | $349.7M | ||
| Q3 24 | $346.3M | $342.3M | ||
| Q2 24 | $360.4M | $321.4M | ||
| Q1 24 | $368.1M | $319.8M |
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 | $39.6M |
| Free Cash FlowOCF − Capex | $-2.8M | $35.2M |
| FCF MarginFCF / Revenue | -2.3% | 23.0% |
| Capex IntensityCapex / Revenue | 5.8% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 5.39× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $41.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $39.6M | ||
| Q3 25 | $4.3M | $10.0M | ||
| Q2 25 | $4.0M | $4.3M | ||
| Q1 25 | — | $5.6M | ||
| Q4 24 | $5.8M | $26.7M | ||
| Q3 24 | $4.7M | $12.5M | ||
| Q2 24 | $7.0M | $-4.8M | ||
| Q1 24 | $164.0K | $8.9M |
| Q4 25 | — | $35.2M | ||
| Q3 25 | $-2.8M | $5.3M | ||
| Q2 25 | $1.1M | $533.0K | ||
| Q1 25 | — | $292.0K | ||
| Q4 24 | $-1.3M | $21.6M | ||
| Q3 24 | $-4.5M | $11.1M | ||
| Q2 24 | $-1.6M | $-6.0M | ||
| Q1 24 | $-15.2M | $7.4M |
| Q4 25 | — | 23.0% | ||
| Q3 25 | -2.3% | 3.8% | ||
| Q2 25 | 0.9% | 0.4% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | -1.1% | 17.3% | ||
| Q3 24 | -3.5% | 8.9% | ||
| Q2 24 | -1.4% | -5.0% | ||
| Q1 24 | -12.2% | 6.6% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | 5.8% | 3.4% | ||
| Q2 25 | 2.4% | 2.9% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | 5.8% | 4.0% | ||
| Q3 24 | 7.2% | 1.2% | ||
| Q2 24 | 7.1% | 1.0% | ||
| Q1 24 | 12.3% | 1.3% |
| Q4 25 | — | 5.39× | ||
| Q3 25 | — | 4.32× | ||
| Q2 25 | — | 8.39× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 3.94× | ||
| Q3 24 | — | 9.70× | ||
| Q2 24 | — | -0.79× | ||
| Q1 24 | — | 1.63× |
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% |
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
