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Side-by-side financial comparison of NOODLES & Co (NDLS) and RING ENERGY, INC. (REI). Click either name above to swap in a different company.
NOODLES & Co is the larger business by last-quarter revenue ($122.1M vs $66.9M, roughly 1.8× RING ENERGY, INC.). On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -19.8%). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -15.9%).
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.
Siemens Energy AG is a German publicly traded energy corporation formed through the spin-off of the former Gas and Power division of Siemens, and it includes full ownership of Siemens Gamesa.
NDLS vs REI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $66.9M |
| Net Profit | $-9.2M | — |
| Gross Margin | — | — |
| Operating Margin | -5.2% | -37.6% |
| Net Margin | -7.5% | — |
| Revenue YoY | -4.1% | -19.8% |
| Net Profit YoY | 32.8% | — |
| EPS (diluted) | $-0.20 | $-0.07 |
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 | — | $66.9M | ||
| Q3 25 | $122.1M | $78.6M | ||
| Q2 25 | $123.8M | $82.6M | ||
| Q1 25 | — | $79.1M | ||
| Q4 24 | $122.8M | $83.4M | ||
| Q3 24 | $127.4M | $89.2M | ||
| Q2 24 | $121.4M | $99.1M | ||
| Q1 24 | $124.3M | $94.5M |
| Q4 25 | — | — | ||
| Q3 25 | $-9.2M | $-51.6M | ||
| Q2 25 | $-9.1M | $20.6M | ||
| Q1 25 | — | $9.1M | ||
| Q4 24 | $-6.8M | — | ||
| Q3 24 | $-13.6M | $33.9M | ||
| Q2 24 | $-6.1M | $22.4M | ||
| Q1 24 | $-6.1M | $5.5M |
| Q4 25 | — | -37.6% | ||
| Q3 25 | -5.2% | -70.0% | ||
| Q2 25 | -5.2% | 28.4% | ||
| Q1 25 | — | 28.3% | ||
| Q4 24 | -3.9% | 28.3% | ||
| Q3 24 | -9.0% | 33.4% | ||
| Q2 24 | -3.4% | 42.2% | ||
| Q1 24 | -3.7% | 39.8% |
| Q4 25 | — | — | ||
| Q3 25 | -7.5% | -65.7% | ||
| Q2 25 | -7.3% | 25.0% | ||
| Q1 25 | — | 11.5% | ||
| Q4 24 | -5.5% | — | ||
| Q3 24 | -10.7% | 38.0% | ||
| Q2 24 | -5.1% | 22.6% | ||
| Q1 24 | -4.9% | 5.8% |
| Q4 25 | — | $-0.07 | ||
| Q3 25 | $-0.20 | $-0.25 | ||
| Q2 25 | $-0.20 | $0.10 | ||
| Q1 25 | — | $0.05 | ||
| Q4 24 | $-0.15 | $0.03 | ||
| Q3 24 | $-0.30 | $0.17 | ||
| Q2 24 | $-0.14 | $0.11 | ||
| Q1 24 | $-1.64 | $0.03 |
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 | $902.9K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-38.9M | $836.3M |
| Total Assets | $280.6M | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $902.9K | ||
| Q3 25 | $4.7M | $286.9K | ||
| Q2 25 | $1.4M | — | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | $3.3M | $1.9M | ||
| Q3 24 | $1.8M | — | ||
| Q2 24 | $1.3M | $1.2M | ||
| Q1 24 | $3.0M | $1.4M |
| Q4 25 | — | $836.3M | ||
| Q3 25 | $-38.9M | $847.7M | ||
| Q2 25 | $-13.9M | $897.9M | ||
| Q1 25 | — | $876.0M | ||
| Q4 24 | $3.7M | $858.6M | ||
| Q3 24 | $9.6M | $851.3M | ||
| Q2 24 | $21.9M | $817.4M | ||
| Q1 24 | $27.2M | $793.0M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $280.6M | $1.4B | ||
| Q2 25 | $319.4M | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $340.5M | $1.4B | ||
| Q3 24 | $346.3M | $1.4B | ||
| Q2 24 | $360.4M | $1.4B | ||
| Q1 24 | $368.1M | $1.4B |
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 | $44.7M |
| Free Cash FlowOCF − Capex | $-2.8M | — |
| FCF MarginFCF / Revenue | -2.3% | — |
| Capex IntensityCapex / Revenue | 5.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $44.7M | ||
| Q3 25 | $4.3M | $44.5M | ||
| Q2 25 | $4.0M | $33.3M | ||
| Q1 25 | — | $28.4M | ||
| Q4 24 | $5.8M | $47.3M | ||
| Q3 24 | $4.7M | $51.3M | ||
| Q2 24 | $7.0M | $50.6M | ||
| Q1 24 | $164.0K | $45.2M |
| 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 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.61× | ||
| Q1 25 | — | 3.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.52× | ||
| Q2 24 | — | 2.26× | ||
| Q1 24 | — | 8.19× |
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% |
REI
Segment breakdown not available.
