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Side-by-side financial comparison of NOODLES & Co (NDLS) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
SMITH & WESSON BRANDS, INC. is the larger business by last-quarter revenue ($124.7M vs $122.1M, roughly 1.0× NOODLES & Co). SMITH & WESSON BRANDS, INC. runs the higher net margin — 1.5% vs -7.5%, a 9.0% gap on every dollar of revenue. On growth, SMITH & WESSON BRANDS, INC. posted the faster year-over-year revenue change (-3.9% vs -4.1%). SMITH & WESSON BRANDS, INC. produced more free cash flow last quarter ($16.3M vs $-2.8M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -4.8%).
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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
NDLS vs SWBI — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $124.7M |
| Net Profit | $-9.2M | $1.9M |
| Gross Margin | — | 24.3% |
| Operating Margin | -5.2% | 3.3% |
| Net Margin | -7.5% | 1.5% |
| Revenue YoY | -4.1% | -3.9% |
| Net Profit YoY | 32.8% | -53.6% |
| EPS (diluted) | $-0.20 | $0.04 |
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 | — | $124.7M | ||
| Q3 25 | $122.1M | $85.1M | ||
| Q2 25 | $123.8M | $140.8M | ||
| Q1 25 | — | $115.9M | ||
| Q4 24 | $122.8M | $129.7M | ||
| Q3 24 | $127.4M | $88.3M | ||
| Q2 24 | $121.4M | $159.1M | ||
| Q1 24 | $124.3M | $137.5M |
| Q4 25 | — | $1.9M | ||
| Q3 25 | $-9.2M | $-3.4M | ||
| Q2 25 | $-9.1M | $8.6M | ||
| Q1 25 | — | $2.1M | ||
| Q4 24 | $-6.8M | $4.5M | ||
| Q3 24 | $-13.6M | $-1.9M | ||
| Q2 24 | $-6.1M | $27.9M | ||
| Q1 24 | $-6.1M | $7.9M |
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 25.9% | ||
| Q2 25 | — | 28.8% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 26.6% | ||
| Q3 24 | — | 27.4% | ||
| Q2 24 | — | 35.5% | ||
| Q1 24 | — | 28.7% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | -5.2% | -3.5% | ||
| Q2 25 | -5.2% | 9.3% | ||
| Q1 25 | — | 4.1% | ||
| Q4 24 | -3.9% | 5.8% | ||
| Q3 24 | -9.0% | -1.7% | ||
| Q2 24 | -3.4% | 17.4% | ||
| Q1 24 | -3.7% | 8.2% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | -7.5% | -4.0% | ||
| Q2 25 | -7.3% | 6.1% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | -5.5% | 3.5% | ||
| Q3 24 | -10.7% | -2.1% | ||
| Q2 24 | -5.1% | 17.5% | ||
| Q1 24 | -4.9% | 5.7% |
| Q4 25 | — | $0.04 | ||
| Q3 25 | $-0.20 | $-0.08 | ||
| Q2 25 | $-0.20 | $0.19 | ||
| Q1 25 | — | $0.05 | ||
| Q4 24 | $-0.15 | $0.10 | ||
| Q3 24 | $-0.30 | $-0.04 | ||
| Q2 24 | $-0.14 | $0.60 | ||
| Q1 24 | $-1.64 | $0.17 |
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 | $22.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-38.9M | $363.2M |
| Total Assets | $280.6M | $548.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $22.4M | ||
| Q3 25 | $4.7M | $18.0M | ||
| Q2 25 | $1.4M | $25.2M | ||
| Q1 25 | — | $26.7M | ||
| Q4 24 | $3.3M | $39.1M | ||
| Q3 24 | $1.8M | $35.5M | ||
| Q2 24 | $1.3M | $60.8M | ||
| Q1 24 | $3.0M | $47.4M |
| Q4 25 | — | $363.2M | ||
| Q3 25 | $-38.9M | $364.4M | ||
| Q2 25 | $-13.9M | $372.5M | ||
| Q1 25 | — | $366.9M | ||
| Q4 24 | $3.7M | $371.5M | ||
| Q3 24 | $9.6M | $380.0M | ||
| Q2 24 | $21.9M | $399.9M | ||
| Q1 24 | $27.2M | $376.4M |
| Q4 25 | — | $548.6M | ||
| Q3 25 | $280.6M | $554.6M | ||
| Q2 25 | $319.4M | $559.6M | ||
| Q1 25 | — | $578.9M | ||
| Q4 24 | $340.5M | $587.4M | ||
| Q3 24 | $346.3M | $571.3M | ||
| Q2 24 | $360.4M | $577.4M | ||
| Q1 24 | $368.1M | $570.6M |
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 | $27.3M |
| Free Cash FlowOCF − Capex | $-2.8M | $16.3M |
| FCF MarginFCF / Revenue | -2.3% | 13.1% |
| Capex IntensityCapex / Revenue | 5.8% | 8.8% |
| Cash ConversionOCF / Net Profit | — | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $27.3M | ||
| Q3 25 | $4.3M | $-8.1M | ||
| Q2 25 | $4.0M | $40.8M | ||
| Q1 25 | — | $-9.8M | ||
| Q4 24 | $5.8M | $-7.4M | ||
| Q3 24 | $4.7M | $-30.8M | ||
| Q2 24 | $7.0M | $43.7M | ||
| Q1 24 | $164.0K | $25.2M |
| Q4 25 | — | $16.3M | ||
| Q3 25 | $-2.8M | $-12.4M | ||
| Q2 25 | $1.1M | $33.5M | ||
| Q1 25 | — | $-16.1M | ||
| Q4 24 | $-1.3M | $-10.7M | ||
| Q3 24 | $-4.5M | $-35.5M | ||
| Q2 24 | $-1.6M | $38.2M | ||
| Q1 24 | $-15.2M | $7.0M |
| Q4 25 | — | 13.1% | ||
| Q3 25 | -2.3% | -14.6% | ||
| Q2 25 | 0.9% | 23.8% | ||
| Q1 25 | — | -13.9% | ||
| Q4 24 | -1.1% | -8.3% | ||
| Q3 24 | -3.5% | -40.2% | ||
| Q2 24 | -1.4% | 24.0% | ||
| Q1 24 | -12.2% | 5.1% |
| Q4 25 | — | 8.8% | ||
| Q3 25 | 5.8% | 5.0% | ||
| Q2 25 | 2.4% | 5.2% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | 5.8% | 2.5% | ||
| Q3 24 | 7.2% | 5.3% | ||
| Q2 24 | 7.1% | 3.5% | ||
| Q1 24 | 12.3% | 13.2% |
| Q4 25 | — | 14.22× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.73× | ||
| Q1 25 | — | -4.68× | ||
| Q4 24 | — | -1.63× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.57× | ||
| Q1 24 | — | 3.20× |
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% |
SWBI
Segment breakdown not available.
