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Side-by-side financial comparison of NOODLES & Co (NDLS) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
NOODLES & Co is the larger business by last-quarter revenue ($122.1M vs $91.6M, roughly 1.3× SHENANDOAH TELECOMMUNICATIONS CO). SHENANDOAH TELECOMMUNICATIONS CO runs the higher net margin — -5.9% vs -7.5%, a 1.6% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs -4.1%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-78.6M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% 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.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
NDLS vs SHEN — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $91.6M |
| Net Profit | $-9.2M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | -5.2% | -1.0% |
| Net Margin | -7.5% | -5.9% |
| Revenue YoY | -4.1% | 7.2% |
| Net Profit YoY | 32.8% | -95.8% |
| EPS (diluted) | $-0.20 | $-0.13 |
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 | — | $91.6M | ||
| Q3 25 | $122.1M | $89.8M | ||
| Q2 25 | $123.8M | $88.6M | ||
| Q1 25 | — | $87.9M | ||
| Q4 24 | $122.8M | $85.4M | ||
| Q3 24 | $127.4M | $87.6M | ||
| Q2 24 | $121.4M | $85.8M | ||
| Q1 24 | $124.3M | $69.2M |
| Q4 25 | — | $-5.4M | ||
| Q3 25 | $-9.2M | $-9.4M | ||
| Q2 25 | $-9.1M | $-9.0M | ||
| Q1 25 | — | $-9.1M | ||
| Q4 24 | $-6.8M | $-2.7M | ||
| Q3 24 | $-13.6M | $-5.3M | ||
| Q2 24 | $-6.1M | $-12.9M | ||
| Q1 24 | $-6.1M | $214.7M |
| Q4 25 | — | -1.0% | ||
| Q3 25 | -5.2% | -8.0% | ||
| Q2 25 | -5.2% | -10.3% | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | -3.9% | -6.7% | ||
| Q3 24 | -9.0% | -4.8% | ||
| Q2 24 | -3.4% | -18.5% | ||
| Q1 24 | -3.7% | -4.0% |
| Q4 25 | — | -5.9% | ||
| Q3 25 | -7.5% | -10.5% | ||
| Q2 25 | -7.3% | -10.2% | ||
| Q1 25 | — | -10.4% | ||
| Q4 24 | -5.5% | -3.2% | ||
| Q3 24 | -10.7% | -6.0% | ||
| Q2 24 | -5.1% | -15.0% | ||
| Q1 24 | -4.9% | 310.0% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | $-0.20 | $-0.20 | ||
| Q2 25 | $-0.20 | $-0.19 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | $-0.15 | $-0.34 | ||
| Q3 24 | $-0.30 | $-0.13 | ||
| Q2 24 | $-0.14 | $-0.24 | ||
| Q1 24 | $-1.64 | $4.25 |
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 | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $-38.9M | $880.8M |
| Total Assets | $280.6M | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $27.3M | ||
| Q3 25 | $4.7M | $22.6M | ||
| Q2 25 | $1.4M | $29.1M | ||
| Q1 25 | — | $87.5M | ||
| Q4 24 | $3.3M | $46.3M | ||
| Q3 24 | $1.8M | $43.1M | ||
| Q2 24 | $1.3M | $43.8M | ||
| Q1 24 | $3.0M | $389.7M |
| Q4 25 | — | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | — | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | — | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | — | $880.8M | ||
| Q3 25 | $-38.9M | $892.7M | ||
| Q2 25 | $-13.9M | $902.0M | ||
| Q1 25 | — | $910.5M | ||
| Q4 24 | $3.7M | $918.6M | ||
| Q3 24 | $9.6M | $925.4M | ||
| Q2 24 | $21.9M | $933.1M | ||
| Q1 24 | $27.2M | $871.6M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | $280.6M | $1.9B | ||
| Q2 25 | $319.4M | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $340.5M | $1.7B | ||
| Q3 24 | $346.3M | $1.7B | ||
| Q2 24 | $360.4M | $1.7B | ||
| Q1 24 | $368.1M | $1.4B |
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.34× |
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 | $28.8M |
| Free Cash FlowOCF − Capex | $-2.8M | $-78.6M |
| FCF MarginFCF / Revenue | -2.3% | -85.8% |
| Capex IntensityCapex / Revenue | 5.8% | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $28.8M | ||
| Q3 25 | $4.3M | $30.7M | ||
| Q2 25 | $4.0M | $20.9M | ||
| Q1 25 | — | $20.5M | ||
| Q4 24 | $5.8M | $20.6M | ||
| Q3 24 | $4.7M | $24.3M | ||
| Q2 24 | $7.0M | $2.5M | ||
| Q1 24 | $164.0K | $15.2M |
| Q4 25 | — | $-78.6M | ||
| Q3 25 | $-2.8M | $-51.4M | ||
| Q2 25 | $1.1M | $-65.3M | ||
| Q1 25 | — | $-62.7M | ||
| Q4 24 | $-1.3M | $-72.0M | ||
| Q3 24 | $-4.5M | $-51.3M | ||
| Q2 24 | $-1.6M | $-78.3M | ||
| Q1 24 | $-15.2M | $-54.9M |
| Q4 25 | — | -85.8% | ||
| Q3 25 | -2.3% | -57.2% | ||
| Q2 25 | 0.9% | -73.7% | ||
| Q1 25 | — | -71.3% | ||
| Q4 24 | -1.1% | -84.3% | ||
| Q3 24 | -3.5% | -58.5% | ||
| Q2 24 | -1.4% | -91.3% | ||
| Q1 24 | -12.2% | -79.3% |
| Q4 25 | — | 117.2% | ||
| Q3 25 | 5.8% | 91.4% | ||
| Q2 25 | 2.4% | 97.3% | ||
| Q1 25 | — | 94.7% | ||
| Q4 24 | 5.8% | 108.4% | ||
| Q3 24 | 7.2% | 86.2% | ||
| Q2 24 | 7.1% | 94.2% | ||
| Q1 24 | 12.3% | 101.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.07× |
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% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
