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Side-by-side financial comparison of NOODLES & Co (NDLS) and TREX CO INC (TREX). Click either name above to swap in a different company.
TREX CO INC is the larger business by last-quarter revenue ($343.4M vs $122.1M, roughly 2.8× NOODLES & Co). TREX CO INC runs the higher net margin — 17.9% vs -7.5%, a 25.4% gap on every dollar of revenue. On growth, TREX CO INC posted the faster year-over-year revenue change (1.0% vs -4.1%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-143.4M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -4.5%).
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.
Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.
NDLS vs TREX — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $343.4M |
| Net Profit | $-9.2M | $61.4M |
| Gross Margin | — | 40.5% |
| Operating Margin | -5.2% | 24.3% |
| Net Margin | -7.5% | 17.9% |
| Revenue YoY | -4.1% | 1.0% |
| Net Profit YoY | 32.8% | 1.6% |
| EPS (diluted) | $-0.20 | $0.58 |
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 | — | $343.4M | ||
| Q4 25 | — | $161.1M | ||
| Q3 25 | $122.1M | $285.3M | ||
| Q2 25 | $123.8M | $387.8M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | $122.8M | $167.6M | ||
| Q3 24 | $127.4M | $233.7M | ||
| Q2 24 | $121.4M | $376.5M |
| Q1 26 | — | $61.4M | ||
| Q4 25 | — | $2.3M | ||
| Q3 25 | $-9.2M | $51.8M | ||
| Q2 25 | $-9.1M | $75.9M | ||
| Q1 25 | — | $60.4M | ||
| Q4 24 | $-6.8M | $9.8M | ||
| Q3 24 | $-13.6M | $40.6M | ||
| Q2 24 | $-6.1M | $87.0M |
| Q1 26 | — | 40.5% | ||
| Q4 25 | — | 30.2% | ||
| Q3 25 | — | 40.5% | ||
| Q2 25 | — | 40.8% | ||
| Q1 25 | — | 40.5% | ||
| Q4 24 | — | 32.7% | ||
| Q3 24 | — | 39.9% | ||
| Q2 24 | — | 44.7% |
| Q1 26 | — | 24.3% | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | -5.2% | 24.7% | ||
| Q2 25 | -5.2% | 26.4% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | -3.9% | 9.2% | ||
| Q3 24 | -9.0% | 23.2% | ||
| Q2 24 | -3.4% | 31.1% |
| Q1 26 | — | 17.9% | ||
| Q4 25 | — | 1.4% | ||
| Q3 25 | -7.5% | 18.1% | ||
| Q2 25 | -7.3% | 19.6% | ||
| Q1 25 | — | 17.8% | ||
| Q4 24 | -5.5% | 5.8% | ||
| Q3 24 | -10.7% | 17.4% | ||
| Q2 24 | -5.1% | 23.1% |
| Q1 26 | — | $0.58 | ||
| Q4 25 | — | $0.03 | ||
| Q3 25 | $-0.20 | $0.48 | ||
| Q2 25 | $-0.20 | $0.71 | ||
| Q1 25 | — | $0.56 | ||
| Q4 24 | $-0.15 | $0.10 | ||
| Q3 24 | $-0.30 | $0.37 | ||
| Q2 24 | $-0.14 | $0.80 |
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 | $4.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-38.9M | $995.8M |
| Total Assets | $280.6M | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.5M | ||
| Q4 25 | — | $3.8M | ||
| Q3 25 | $4.7M | $11.4M | ||
| Q2 25 | $1.4M | $5.5M | ||
| Q1 25 | — | $5.0M | ||
| Q4 24 | $3.3M | $1.3M | ||
| Q3 24 | $1.8M | $12.8M | ||
| Q2 24 | $1.3M | $1.2M |
| Q1 26 | — | $995.8M | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | $-38.9M | $1.0B | ||
| Q2 25 | $-13.9M | $989.3M | ||
| Q1 25 | — | $910.1M | ||
| Q4 24 | $3.7M | $850.1M | ||
| Q3 24 | $9.6M | $887.9M | ||
| Q2 24 | $21.9M | $894.9M |
| Q1 26 | — | $1.7B | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | $280.6M | $1.5B | ||
| Q2 25 | $319.4M | $1.5B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $340.5M | $1.3B | ||
| Q3 24 | $346.3M | $1.3B | ||
| Q2 24 | $360.4M | $1.3B |
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 | $-118.4M |
| Free Cash FlowOCF − Capex | $-2.8M | $-143.4M |
| FCF MarginFCF / Revenue | -2.3% | -41.8% |
| Capex IntensityCapex / Revenue | 5.8% | — |
| Cash ConversionOCF / Net Profit | — | -1.93× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $224.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-118.4M | ||
| Q4 25 | — | $65.5M | ||
| Q3 25 | $4.3M | $196.9M | ||
| Q2 25 | $4.0M | $249.8M | ||
| Q1 25 | — | $-154.0M | ||
| Q4 24 | $5.8M | $-8.5M | ||
| Q3 24 | $4.7M | $132.8M | ||
| Q2 24 | $7.0M | $193.7M |
| Q1 26 | — | $-143.4M | ||
| Q4 25 | — | $22.1M | ||
| Q3 25 | $-2.8M | $142.9M | ||
| Q2 25 | $1.1M | $203.0M | ||
| Q1 25 | — | $-233.5M | ||
| Q4 24 | $-1.3M | $-89.3M | ||
| Q3 24 | $-4.5M | $54.5M | ||
| Q2 24 | $-1.6M | $158.2M |
| Q1 26 | — | -41.8% | ||
| Q4 25 | — | 13.7% | ||
| Q3 25 | -2.3% | 50.1% | ||
| Q2 25 | 0.9% | 52.3% | ||
| Q1 25 | — | -68.7% | ||
| Q4 24 | -1.1% | -53.3% | ||
| Q3 24 | -3.5% | 23.3% | ||
| Q2 24 | -1.4% | 42.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 26.9% | ||
| Q3 25 | 5.8% | 18.9% | ||
| Q2 25 | 2.4% | 12.1% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | 5.8% | 48.2% | ||
| Q3 24 | 7.2% | 33.5% | ||
| Q2 24 | 7.1% | 9.4% |
| Q1 26 | — | -1.93× | ||
| Q4 25 | — | 28.45× | ||
| Q3 25 | — | 3.80× | ||
| Q2 25 | — | 3.29× | ||
| Q1 25 | — | -2.55× | ||
| Q4 24 | — | -0.87× | ||
| Q3 24 | — | 3.27× | ||
| Q2 24 | — | 2.23× |
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% |
TREX
Segment breakdown not available.
