Noodles & Company (NDLS) Financial Ratios
15 years of historical data (2011–2025) · Consumer Cyclical · Restaurants
EV/EBITDA
↓
15.65
↓-76% vs avg
5yr avg: 65.28
30Y Low13.4·High51.4
P/FCF
N/A
—
5yr avg: 24.48
30Y Low22.1·High24.5
P/B Ratio
↓
N/A
—
5yr avg: 7.73
30Y Low3.0·High11.7
ROE
↓
N/A
—
5yr avg: -90.9%
30Y Low-336%·High51%
Debt/EBITDA
↑
12.02
↓-78% vs avg
5yr avg: 54.54
30Y Low0.2·High13.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NDLS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Noodles & Company currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $81M | $32M | $26M | $144M | $252M | $426M | $348M | $249M | $296M | $198M | $114M |
| Enterprise Value | $343M | $295M | $317M | $440M | $515M | $673M | $620M | $528M | $336M | $253M | $197M |
| P/E Ratio → | -1.87 | — | — | — | — | 115.38 | — | 151.37 | — | — | — |
| P/S Ratio | 0.16 | 0.07 | 0.05 | 0.29 | 0.49 | 0.90 | 0.88 | 0.54 | 0.65 | 0.43 | 0.23 |
| P/B Ratio | — | — | — | 5.32 | 6.57 | 11.31 | 11.70 | 4.93 | 5.62 | 5.53 | 4.42 |
| P/FCF | — | — | — | — | — | 24.48 | — | 22.11 | — | — | — |
| P/OCF | 11.11 | 4.45 | 3.48 | 5.25 | 26.38 | 11.77 | 38.09 | 8.29 | 55.35 | 48.33 | 4.61 |
P/E links to full P/E history page with 30-year chart
NDLS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Noodles & Company's enterprise value stands at 15.7x EBITDA, 76% below its 5-year average of 65.3x. The Consumer Cyclical sector median is 12.1x, placing the stock at a 29% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.60 | 0.64 | 0.87 | 1.01 | 1.42 | 1.58 | 1.14 | 0.73 | 0.55 | 0.40 |
| EV / EBITDA | 15.65 | 13.44 | 245.85 | 20.24 | 22.94 | 23.92 | 369.12 | 19.19 | 17.59 | — | — |
| EV / EBIT | — | — | — | — | — | 115.74 | — | 112.56 | — | — | — |
| EV / FCF | — | — | — | — | — | 38.72 | — | 46.88 | — | — | — |
NDLS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Noodles & Company earns an operating margin of -1.0%, below the Consumer Cyclical sector average of 2.0%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.9% | 8.9% | 34.3% | 16.7% | 15.7% | 17.3% | 13.1% | 17.1% | 15.8% | 15.1% | 13.7% |
| Operating Margin | -1.0% | -1.0% | -5.6% | -1.0% | -0.2% | 1.2% | -5.1% | 1.2% | -0.8% | -7.4% | -13.9% |
| Net Profit Margin | -8.6% | -8.6% | -7.3% | -2.0% | -0.7% | 0.8% | -5.9% | 0.4% | -1.8% | -10.0% | -14.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | -335.6% | -30.1% | -8.7% | 10.9% | -58.0% | 3.2% | -19.1% | -147.4% | -119.9% |
| ROA | -14.5% | -14.5% | -10.5% | -2.8% | -1.0% | 1.1% | -6.4% | 0.6% | -4.7% | -23.0% | -31.9% |
| ROIC | -1.5% | -1.5% | -6.9% | -1.2% | -0.2% | 1.5% | -4.8% | 1.9% | -3.1% | -25.5% | -37.8% |
| ROCE | -2.2% | -2.2% | -9.9% | -1.7% | -0.3% | 2.1% | -6.5% | 2.4% | -2.7% | -22.4% | -36.8% |
NDLS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Noodles & Company carries a Debt/EBITDA ratio of 12.0x, which is highly leveraged (152% above the sector average of 4.8x). Net debt stands at $263M ($264M total debt minus $1M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 11.01 | 6.89 | 6.64 | 9.44 | 5.73 | 0.85 | 1.61 | 3.28 |
| Debt / EBITDA | 12.02 | 12.02 | 226.32 | 13.74 | 11.77 | 8.87 | 166.92 | 10.52 | 2.35 | — | — |
| Net Debt / Equity | — | — | — | 10.90 | 6.85 | 6.58 | 9.18 | 5.52 | 0.76 | 1.51 | 3.21 |
| Net Debt / EBITDA | 11.96 | 11.96 | 225.42 | 13.60 | 11.71 | 8.79 | 162.25 | 10.14 | 2.11 | — | — |
| Debt / FCF | — | — | — | — | — | 14.23 | — | 24.77 | — | — | — |
| Interest Coverage | -0.47 | -0.47 | -3.31 | -1.05 | -0.34 | 2.79 | -6.37 | 1.60 | -1.02 | -8.82 | -23.16 |
NDLS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.31x is below 1.0, meaning current liabilities exceed current assets.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.31 | 0.31 | 0.31 | 0.34 | 0.34 | 0.29 | 0.41 | 0.51 | 0.70 | 0.50 | 0.53 |
| Quick Ratio | 0.14 | 0.14 | 0.15 | 0.18 | 0.18 | 0.17 | 0.24 | 0.34 | 0.41 | 0.28 | 0.30 |
| Cash Ratio | 0.02 | 0.02 | 0.02 | 0.04 | 0.02 | 0.03 | 0.13 | 0.18 | 0.14 | 0.08 | 0.04 |
| Asset Turnover | — | 1.89 | 1.52 | 1.37 | 1.48 | 1.39 | 1.11 | 1.22 | 2.66 | 2.46 | 2.33 |
| Inventory Turnover | 44.14 | 44.14 | 30.89 | 40.89 | 42.74 | 41.80 | 35.48 | 38.83 | 39.96 | 39.04 | 37.29 |
| Days Sales Outstanding | — | 3.23 | 3.25 | 3.97 | 4.74 | 3.12 | 3.22 | 2.85 | 2.05 | 2.01 | 4.26 |
NDLS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Noodles & Company does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 0.9% | — | 0.7% | — | — | — |
| FCF Yield | — | — | — | — | — | 4.1% | — | 4.5% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 3.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 3.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $5M | $5M | $3M |
Peer Comparison
Compare NDLS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NDLSYou | $81M | -1.9 | 15.7 | — | 8.9% | -1.0% | — | -1.5% | 12.0 |
 SHAK | $2B | 51.1 | 14.5 | 39.7 | 18.0% | 5.9% | 8.7% | 6.0% | 4.7 |
 BROS | $9B | 106.4 | 33.8 | 156.3 | 25.9% | 9.8% | 9.6% | 7.7% | 3.9 |
 CAVA | $9B | 149.8 | 62.8 | 360.4 | 18.4% | 6.7% | 8.6% | 7.1% | 3.0 |
 PTLO | $292M | 15.0 | 15.8 | — | 39.4% | 7.0% | 3.9% | 3.0% | 12.4 |
 NATH | $413M | 20.8 | 12.7 | 23.1 | 34.3% | 18.6% | — | — | 0.2 |
 FRSH | $2B | 14.2 | 26.7 | 10.1 | 85.0% | 1.6% | 16.9% | 2.0% | 0.9 |
 CMG | $40B | 26.8 | 20.8 | 27.5 | 25.4% | 16.9% | 47.4% | 15.3% | 4.1 |
 PZZA | $1B | 38.2 | 12.1 | 18.4 | 28.9% | 4.3% | — | 11.7% | 6.0 |
 JACK | $218M | -2.7 | 81.7 | 2.9 | 28.7% | -1.2% | — | -0.6% | 77.6 |
 TXRH | $12B | 29.5 | 19.1 | 34.5 | 12.4% | 8.6% | 28.4% | 14.5% | 2.7 |
| Consumer Cyclical Median | — | 20.8 | 12.1 | 15.5 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 15 years · Updated daily
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NDLS — Frequently Asked Questions
Quick answers to the most common questions about buying NDLS stock.
What is Noodles & Company's P/E ratio?
Noodles & Company's current P/E ratio is -1.9x. The historical average is 121.9x.
What is Noodles & Company's EV/EBITDA?
Noodles & Company's current EV/EBITDA is 15.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.1x.
Is NDLS stock overvalued?
Based on historical data, Noodles & Company is trading at a P/E of -1.9x. Compare with industry peers and growth rates for a complete picture.
What are Noodles & Company's profit margins?
Noodles & Company has 8.9% gross margin and -1.0% operating margin.
How much debt does Noodles & Company have?
Noodles & Company's Debt/EBITDA ratio is 12.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.