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Side-by-side financial comparison of NOODLES & Co (NDLS) and STAG Industrial, Inc. (STAG). Click either name above to swap in a different company.
STAG Industrial, Inc. is the larger business by last-quarter revenue ($224.2M vs $122.1M, roughly 1.8× NOODLES & Co). STAG Industrial, Inc. runs the higher net margin — 27.6% vs -7.5%, a 35.1% gap on every dollar of revenue. On growth, STAG Industrial, Inc. posted the faster year-over-year revenue change (9.1% vs -4.1%). Over the past eight quarters, STAG Industrial, Inc.'s revenue compounded faster (8.7% 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.
Stag Arms is a firearms manufacturer founded in May 2003 and located in Cheyenne, Wyoming. Stag Arms is a manufacturer of the AR-15 type rifle, marketed as Stag-15 rifles. Stag advertises that all their weapons and accessories are made in the United States. They are best known for their left-handed AR-15 rifles, which use a mirror imaged upper receiver and have the ejection port reversed for left-handed shooters and the safety selector control on the right side of the lower receiver.
NDLS vs STAG — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $224.2M |
| Net Profit | $-9.2M | $62.0M |
| Gross Margin | — | — |
| Operating Margin | -5.2% | — |
| Net Margin | -7.5% | 27.6% |
| Revenue YoY | -4.1% | 9.1% |
| Net Profit YoY | 32.8% | — |
| EPS (diluted) | $-0.20 | $0.32 |
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.
| Q1 26 | — | $224.2M | ||
| Q4 25 | — | $220.9M | ||
| Q3 25 | $122.1M | $211.1M | ||
| Q2 25 | $123.8M | $207.6M | ||
| Q1 25 | — | $205.6M | ||
| Q4 24 | $122.8M | $199.3M | ||
| Q3 24 | $127.4M | $190.7M | ||
| Q2 24 | $121.4M | $189.8M |
| Q1 26 | — | $62.0M | ||
| Q4 25 | — | $83.5M | ||
| Q3 25 | $-9.2M | $48.6M | ||
| Q2 25 | $-9.1M | $50.0M | ||
| Q1 25 | — | $91.4M | ||
| Q4 24 | $-6.8M | $51.0M | ||
| Q3 24 | $-13.6M | $41.9M | ||
| Q2 24 | $-6.1M | $59.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -5.2% | — | ||
| Q2 25 | -5.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -3.9% | — | ||
| Q3 24 | -9.0% | — | ||
| Q2 24 | -3.4% | — |
| Q1 26 | — | 27.6% | ||
| Q4 25 | — | 37.8% | ||
| Q3 25 | -7.5% | 23.0% | ||
| Q2 25 | -7.3% | 24.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | -5.5% | 25.6% | ||
| Q3 24 | -10.7% | 21.9% | ||
| Q2 24 | -5.1% | 31.5% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | — | — | ||
| Q3 25 | $-0.20 | — | ||
| Q2 25 | $-0.20 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-0.15 | — | ||
| Q3 24 | $-0.30 | — | ||
| Q2 24 | $-0.14 | — |
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 | $8.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-38.9M | $3.6B |
| Total Assets | $280.6M | $7.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $8.9M | ||
| Q4 25 | — | $14.9M | ||
| Q3 25 | $4.7M | $17.3M | ||
| Q2 25 | $1.4M | $15.4M | ||
| Q1 25 | — | $9.3M | ||
| Q4 24 | $3.3M | $36.3M | ||
| Q3 24 | $1.8M | $70.0M | ||
| Q2 24 | $1.3M | $33.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.8B |
| Q1 26 | — | $3.6B | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | $-38.9M | $3.4B | ||
| Q2 25 | $-13.9M | $3.4B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | $3.7M | $3.5B | ||
| Q3 24 | $9.6M | $3.3B | ||
| Q2 24 | $21.9M | $3.3B |
| Q1 26 | — | $7.2B | ||
| Q4 25 | — | $7.2B | ||
| Q3 25 | $280.6M | $6.9B | ||
| Q2 25 | $319.4M | $6.8B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | $340.5M | $6.8B | ||
| Q3 24 | $346.3M | $6.6B | ||
| Q2 24 | $360.4M | $6.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.91× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 0.88× | ||
| Q3 24 | — | 0.89× | ||
| Q2 24 | — | 0.84× |
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 | — |
| Free Cash FlowOCF − Capex | $-2.8M | — |
| FCF MarginFCF / Revenue | -2.3% | — |
| Capex IntensityCapex / Revenue | 5.8% | 3.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $104.5M | ||
| Q3 25 | $4.3M | $143.5M | ||
| Q2 25 | $4.0M | $111.9M | ||
| Q1 25 | — | $103.5M | ||
| Q4 24 | $5.8M | $104.9M | ||
| Q3 24 | $4.7M | $128.0M | ||
| Q2 24 | $7.0M | $122.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $43.8M | ||
| Q3 25 | $-2.8M | $95.5M | ||
| Q2 25 | $1.1M | $62.3M | ||
| Q1 25 | — | $57.2M | ||
| Q4 24 | $-1.3M | $37.6M | ||
| Q3 24 | $-4.5M | $86.7M | ||
| Q2 24 | $-1.6M | $105.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | -2.3% | 45.2% | ||
| Q2 25 | 0.9% | 30.0% | ||
| Q1 25 | — | 27.8% | ||
| Q4 24 | -1.1% | 18.8% | ||
| Q3 24 | -3.5% | 45.5% | ||
| Q2 24 | -1.4% | 55.3% |
| Q1 26 | — | 3.9% | ||
| Q4 25 | — | 27.4% | ||
| Q3 25 | 5.8% | 22.7% | ||
| Q2 25 | 2.4% | 23.9% | ||
| Q1 25 | — | 22.5% | ||
| Q4 24 | 5.8% | 33.8% | ||
| Q3 24 | 7.2% | 21.6% | ||
| Q2 24 | 7.1% | 9.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.25× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 2.24× | ||
| Q1 25 | — | 1.13× | ||
| Q4 24 | — | 2.06× | ||
| Q3 24 | — | 3.06× | ||
| Q2 24 | — | 2.04× |
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% |
STAG
Segment breakdown not available.
