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Side-by-side financial comparison of NOODLES & Co (NDLS) and SunOpta Inc. (STKL). Click either name above to swap in a different company.
SunOpta Inc. is the larger business by last-quarter revenue ($205.4M vs $122.1M, roughly 1.7× NOODLES & Co). SunOpta Inc. runs the higher net margin — 0.4% vs -7.5%, a 7.9% gap on every dollar of revenue. On growth, SunOpta Inc. posted the faster year-over-year revenue change (16.6% vs -4.1%). SunOpta Inc. produced more free cash flow last quarter ($12.1M vs $-2.8M). Over the past eight quarters, SunOpta Inc.'s revenue compounded faster (7.4% 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.
SunOpta, Inc. is a multi-national food and mineral company headquartered in Eden Prairie, Minnesota and founded in 1973 in Canada.
NDLS vs STKL — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $205.4M |
| Net Profit | $-9.2M | $816.0K |
| Gross Margin | — | 12.4% |
| Operating Margin | -5.2% | 3.3% |
| Net Margin | -7.5% | 0.4% |
| Revenue YoY | -4.1% | 16.6% |
| Net Profit YoY | 32.8% | 113.1% |
| EPS (diluted) | $-0.20 | $0.01 |
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.
| Q3 25 | $122.1M | $205.4M | ||
| Q2 25 | $123.8M | $191.5M | ||
| Q1 25 | — | $201.6M | ||
| Q4 24 | $122.8M | $193.9M | ||
| Q3 24 | $127.4M | $175.9M | ||
| Q2 24 | $121.4M | $169.5M | ||
| Q1 24 | $124.3M | $184.4M | ||
| Q4 23 | $127.9M | $178.1M |
| Q3 25 | $-9.2M | $816.0K | ||
| Q2 25 | $-9.1M | $4.4M | ||
| Q1 25 | — | $4.8M | ||
| Q4 24 | $-6.8M | $-8.7M | ||
| Q3 24 | $-13.6M | $-6.2M | ||
| Q2 24 | $-6.1M | $-5.3M | ||
| Q1 24 | $-6.1M | $2.9M | ||
| Q4 23 | $700.0K | $-15.5M |
| Q3 25 | — | 12.4% | ||
| Q2 25 | — | 14.8% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | 16.8% | ||
| Q4 23 | — | 14.1% |
| Q3 25 | -5.2% | 3.3% | ||
| Q2 25 | -5.2% | 5.5% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | -3.9% | 1.4% | ||
| Q3 24 | -9.0% | 0.5% | ||
| Q2 24 | -3.4% | 1.2% | ||
| Q1 24 | -3.7% | 5.5% | ||
| Q4 23 | 1.6% | 2.1% |
| Q3 25 | -7.5% | 0.4% | ||
| Q2 25 | -7.3% | 2.3% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | -5.5% | -4.5% | ||
| Q3 24 | -10.7% | -3.5% | ||
| Q2 24 | -5.1% | -3.1% | ||
| Q1 24 | -4.9% | 1.6% | ||
| Q4 23 | 0.5% | -8.7% |
| Q3 25 | $-0.20 | $0.01 | ||
| Q2 25 | $-0.20 | $0.03 | ||
| Q1 25 | — | $0.04 | ||
| Q4 24 | $-0.15 | $-0.08 | ||
| Q3 24 | $-0.30 | $-0.05 | ||
| Q2 24 | $-0.14 | $-0.04 | ||
| Q1 24 | $-1.64 | $0.02 | ||
| Q4 23 | $0.02 | $-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 | $2.2M |
| Total DebtLower is stronger | — | $250.8M |
| Stockholders' EquityBook value | $-38.9M | $162.8M |
| Total Assets | $280.6M | $694.1M |
| Debt / EquityLower = less leverage | — | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $4.7M | $2.2M | ||
| Q2 25 | $1.4M | $2.2M | ||
| Q1 25 | — | $2.3M | ||
| Q4 24 | $3.3M | $1.6M | ||
| Q3 24 | $1.8M | $2.9M | ||
| Q2 24 | $1.3M | $3.2M | ||
| Q1 24 | $3.0M | $1.5M | ||
| Q4 23 | $2.5M | $306.0K |
| Q3 25 | — | $250.8M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $260.6M | ||
| Q4 24 | — | $265.2M | ||
| Q3 24 | — | $289.9M | ||
| Q2 24 | — | $303.1M | ||
| Q1 24 | — | $258.8M | ||
| Q4 23 | — | $263.5M |
| Q3 25 | $-38.9M | $162.8M | ||
| Q2 25 | $-13.9M | $159.8M | ||
| Q1 25 | — | $154.8M | ||
| Q4 24 | $3.7M | $148.6M | ||
| Q3 24 | $9.6M | $155.0M | ||
| Q2 24 | $21.9M | $158.8M | ||
| Q1 24 | $27.2M | $163.6M | ||
| Q4 23 | $32.5M | $156.3M |
| Q3 25 | $280.6M | $694.1M | ||
| Q2 25 | $319.4M | $704.9M | ||
| Q1 25 | — | $690.7M | ||
| Q4 24 | $340.5M | $668.5M | ||
| Q3 24 | $346.3M | $699.3M | ||
| Q2 24 | $360.4M | $704.7M | ||
| Q1 24 | $368.1M | $671.8M | ||
| Q4 23 | $368.8M | $667.2M |
| Q3 25 | — | 1.54× | ||
| Q2 25 | — | 1.65× | ||
| Q1 25 | — | 1.68× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.58× | ||
| Q4 23 | — | 1.69× |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $-2.8M | $12.1M |
| FCF MarginFCF / Revenue | -2.3% | 5.9% |
| Capex IntensityCapex / Revenue | 5.8% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 20.03× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $36.4M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $4.3M | $16.3M | ||
| Q2 25 | $4.0M | $-4.5M | ||
| Q1 25 | — | $22.3M | ||
| Q4 24 | $5.8M | $33.1M | ||
| Q3 24 | $4.7M | $17.2M | ||
| Q2 24 | $7.0M | $-5.6M | ||
| Q1 24 | $164.0K | $5.3M | ||
| Q4 23 | $16.9M | $4.4M |
| Q3 25 | $-2.8M | $12.1M | ||
| Q2 25 | $1.1M | $-9.2M | ||
| Q1 25 | — | $9.5M | ||
| Q4 24 | $-1.3M | $24.0M | ||
| Q3 24 | $-4.5M | $11.7M | ||
| Q2 24 | $-1.6M | $-15.3M | ||
| Q1 24 | $-15.2M | $-2.3M | ||
| Q4 23 | $4.1M | $-3.5M |
| Q3 25 | -2.3% | 5.9% | ||
| Q2 25 | 0.9% | -4.8% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | -1.1% | 12.4% | ||
| Q3 24 | -3.5% | 6.6% | ||
| Q2 24 | -1.4% | -9.0% | ||
| Q1 24 | -12.2% | -1.2% | ||
| Q4 23 | 3.2% | -2.0% |
| Q3 25 | 5.8% | 2.1% | ||
| Q2 25 | 2.4% | 2.5% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | 5.8% | 4.7% | ||
| Q3 24 | 7.2% | 3.2% | ||
| Q2 24 | 7.1% | 5.7% | ||
| Q1 24 | 12.3% | 4.1% | ||
| Q4 23 | 10.0% | 4.5% |
| Q3 25 | — | 20.03× | ||
| Q2 25 | — | -1.03× | ||
| Q1 25 | — | 4.63× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.83× | ||
| Q4 23 | 24.21× | — |
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% |
STKL
| Beverages And Broths | $161.4M | 79% |
| Fruit Snacks | $40.9M | 20% |
| Ingredients | $3.1M | 2% |
