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Side-by-side financial comparison of NOODLES & Co (NDLS) and CVR PARTNERS, LP (UAN). Click either name above to swap in a different company.
CVR PARTNERS, LP is the larger business by last-quarter revenue ($180.0M vs $122.1M, roughly 1.5× NOODLES & Co). CVR PARTNERS, LP runs the higher net margin — 27.7% vs -7.5%, a 35.2% gap on every dollar of revenue. On growth, CVR PARTNERS, LP posted the faster year-over-year revenue change (26.0% vs -4.1%). Over the past eight quarters, CVR PARTNERS, LP's revenue compounded faster (16.4% 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.
CVR Partners, LP is a leading North American producer of nitrogen-based fertilizer products, primarily urea ammonium nitrate (UAN) and ammonia. It serves agricultural, industrial and commercial markets across the U.S. and Canada, delivering cost-effective, high-quality nutrient solutions for crop production and diverse industrial use cases.
NDLS vs UAN — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $180.0M |
| Net Profit | $-9.2M | $49.9M |
| Gross Margin | — | 37.5% |
| Operating Margin | -5.2% | 32.0% |
| Net Margin | -7.5% | 27.7% |
| Revenue YoY | -4.1% | 26.0% |
| Net Profit YoY | 32.8% | 84.3% |
| EPS (diluted) | $-0.20 | — |
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 | — | $180.0M | ||
| Q4 25 | — | $131.1M | ||
| Q3 25 | $122.1M | $163.5M | ||
| Q2 25 | $123.8M | $168.6M | ||
| Q1 25 | — | $142.9M | ||
| Q4 24 | $122.8M | $139.6M | ||
| Q3 24 | $127.4M | $125.2M | ||
| Q2 24 | $121.4M | $132.9M |
| Q1 26 | — | $49.9M | ||
| Q4 25 | — | $-10.3M | ||
| Q3 25 | $-9.2M | $43.1M | ||
| Q2 25 | $-9.1M | $38.8M | ||
| Q1 25 | — | $27.1M | ||
| Q4 24 | $-6.8M | $18.3M | ||
| Q3 24 | $-13.6M | $3.8M | ||
| Q2 24 | $-6.1M | $26.2M |
| Q1 26 | — | 37.5% | ||
| Q4 25 | — | 4.4% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 32.4% | ||
| Q1 25 | — | 29.7% | ||
| Q4 24 | — | 23.8% | ||
| Q3 24 | — | 14.7% | ||
| Q2 24 | — | 30.0% |
| Q1 26 | — | 32.0% | ||
| Q4 25 | — | -2.2% | ||
| Q3 25 | -5.2% | 31.0% | ||
| Q2 25 | -5.2% | 27.5% | ||
| Q1 25 | — | 24.2% | ||
| Q4 24 | -3.9% | 18.4% | ||
| Q3 24 | -9.0% | 8.8% | ||
| Q2 24 | -3.4% | 25.3% |
| Q1 26 | — | 27.7% | ||
| Q4 25 | — | -7.8% | ||
| Q3 25 | -7.5% | 26.3% | ||
| Q2 25 | -7.3% | 23.0% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | -5.5% | 13.1% | ||
| Q3 24 | -10.7% | 3.0% | ||
| Q2 24 | -5.1% | 19.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.98 | ||
| Q3 25 | $-0.20 | $4.08 | ||
| Q2 25 | $-0.20 | $3.67 | ||
| Q1 25 | — | $2.56 | ||
| Q4 24 | $-0.15 | $1.73 | ||
| Q3 24 | $-0.30 | $0.36 | ||
| Q2 24 | $-0.14 | $2.48 |
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 | $128.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-38.9M | — |
| Total Assets | $280.6M | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.1M | ||
| Q4 25 | — | $69.2M | ||
| Q3 25 | $4.7M | $156.2M | ||
| Q2 25 | $1.4M | $114.4M | ||
| Q1 25 | — | $121.8M | ||
| Q4 24 | $3.3M | $90.9M | ||
| Q3 24 | $1.8M | $110.5M | ||
| Q2 24 | $1.3M | $47.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $569.1M | ||
| Q3 25 | — | $569.1M | ||
| Q2 25 | — | $569.2M | ||
| Q1 25 | — | $569.3M | ||
| Q4 24 | — | $568.0M | ||
| Q3 24 | — | $547.7M | ||
| Q2 24 | — | $547.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $-38.9M | — | ||
| Q2 25 | $-13.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.7M | — | ||
| Q3 24 | $9.6M | — | ||
| Q2 24 | $21.9M | — |
| Q1 26 | — | $1.0B | ||
| Q4 25 | — | $969.5M | ||
| Q3 25 | $280.6M | $1.0B | ||
| Q2 25 | $319.4M | $998.0M | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | $340.5M | $1.0B | ||
| Q3 24 | $346.3M | $986.6M | ||
| Q2 24 | $360.4M | $959.4M |
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% | 7.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $-21.6M | ||
| Q3 25 | $4.3M | $91.7M | ||
| Q2 25 | $4.0M | $24.1M | ||
| Q1 25 | — | $55.4M | ||
| Q4 24 | $5.8M | $12.8M | ||
| Q3 24 | $4.7M | $86.7M | ||
| Q2 24 | $7.0M | $8.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-45.2M | ||
| Q3 25 | $-2.8M | $80.1M | ||
| Q2 25 | $1.1M | $18.4M | ||
| Q1 25 | — | $45.5M | ||
| Q4 24 | $-1.3M | $-5.6M | ||
| Q3 24 | $-4.5M | $82.3M | ||
| Q2 24 | $-1.6M | $2.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | -34.5% | ||
| Q3 25 | -2.3% | 49.0% | ||
| Q2 25 | 0.9% | 10.9% | ||
| Q1 25 | — | 31.9% | ||
| Q4 24 | -1.1% | -4.0% | ||
| Q3 24 | -3.5% | 65.7% | ||
| Q2 24 | -1.4% | 1.8% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | — | 18.0% | ||
| Q3 25 | 5.8% | 7.1% | ||
| Q2 25 | 2.4% | 3.4% | ||
| Q1 25 | — | 6.9% | ||
| Q4 24 | 5.8% | 13.1% | ||
| Q3 24 | 7.2% | 3.6% | ||
| Q2 24 | 7.1% | 4.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.13× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 2.04× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 22.78× | ||
| Q2 24 | — | 0.33× |
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% |
UAN
| Fertilizer sales | $166.1M | 92% |
| Other | $14.0M | 8% |
