Event-Driven Stocks

NOODLES & Co

NDLSNasdaq

Consumer Discretionary · Retail-Eating Places · SEC filings ↗ · Compare ⊕

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Signs● 3 good● 4 warning● 2 severedetails ↓

Financials

SEC XBRL · annual
 FY25FY24FY23FY21FY20FY19
Revenue$495.1M$503.4M$509.5M$475.2M$393.7M$462.4M
Operating income−$31.6M−$5.0M−$832,000$5.8M−$20.0M$5.4M
Net income−$42.6M−$9.9M−$3.3M$3.7M−$23.3M$1.6M
Total assets$261.7M$324.6M$343.8M$341.5M$353.6M$172.0M
Total liabilities$307.0M$330.2M$305.5M$303.8M$323.9M$119.4M
Equity−$45.3M$27.2M$38.4M$37.6M$29.7M$50.6M
EPS (diluted)$-7.36$-1.72$-0.07$0.08$-0.53$0.04
Shares out.45.7M45.0M46.0M45.4M44.1M44.1M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2025
Operating margin
−6.4%
Net margin
−8.6%
Return on equity
94.0%
Return on assets
−16.3%
Return on capital (ROCE)
−15.8%
Liabilities / assets
117.3%
Debt / equity
—
Book value / share
$-0.99
Revenue growth (YoY)
−1.7%
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2025
Altman Z″ (distress)
-4.87distress
Accruals / assets
−19.1%clean
Piotroski F-Score
3/9weak

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
37
/ 100
Profitability 20Growth 0Catalyst 67Earnings quality 100Financial strength 0

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →

Signs

● 2 severe● 4 warning● 3 good
  • Negative shareholder equity
  • Altman Z″ in the distress zone
  • Operating losses (negative operating margin)
  • Reported a net loss
  • Revenue declined year-over-year
  • High leverage (liabilities > 70% of assets)
  • Strong return on equity (>15%)
  • Positive operating cash flow
  • Clean earnings (low accruals)

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Short interest

FINRA · bi-monthly
SettlementShares shortDays to coverΔ vs prior
May 15, 2026145,3881.9+17.6%
Apr 30, 2026123,6292.3-24.6%
Apr 15, 2026163,8623.0-38.8%
Mar 31, 2026267,9241.3-1.5%
Mar 13, 2026272,0624.9-14.7%

Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (1)

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