Noodles & Company (NDLS)
Serving cooked-to-order noodle and pasta dishes across a company-owned and franchised restaurant network.
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Serving globally inspired noodle and pasta dishes, soups, salads, and appetizers through a fast-casual restaurant model. Revenue is generated through a mix of company-owned and franchised restaurants within one reportable segment.
Founded in Denver in 1995, the chain serves cooked-to-order noodle and pasta dishes inspired by multiple cuisines, with soups, salads, and appetizers alongside them. Its fast-casual model is built around fresh ingredients and flavors.
The restaurant base is concentrated in the United States, operating across 31 states through a mix of company-owned and franchised locations. Company-owned and franchise-owned restaurants make up its single operating and reportable segment.
A portfolio-optimization program has included closures of underperforming restaurants, while the board's ongoing strategic-alternatives review includes potential refinancing, refranchising, or a transaction involving all or part of the business.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 15, 2025 | Benchmark | Downgrade | ||
| Aug 15, 2025 | The Benchmark Company | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.3M · Total debt $242.5M · Total assets $235.8M · Shareholders' equity −$51.0M
- Revenue
- $127.0M
- Operating income
- −$1.5M
- Net income
- −$4.0M
No dividends on record.
| Institutions | 23.09% | 1.38M shares | |
|---|---|---|---|
| 36 holders · as of Jun 30, 2026 | |||
| Insiders | 6.21% | 370.4K shares | |
| 14 holders · as of Sep 1, 2026 | |||
| Strategic holders | 0.40% | 24.0K shares | |
| 1 holder · as of May 19, 2026 | |||
| Other | 70.30% | 4.19M shares | |
| remainder | |||
5.97M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Nantahala Capital Management, LLCInstitution | 9.28% | 553,746 | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.66% | 218,589 | as of Jun 30, 2026 |
Jane Street Group, LLCInstitution | 1.53% | 91,296 | as of Jun 30, 2026 |
Joseph ChristinaInsiderdirector, officer: CEO and President | 1.34% | 80,223 | filed Sep 1, 2026 |
BlackRock, Inc.Institution | 1.27% | 75,595 | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
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Mediterranean fast-casual rival with customizable bowls and pitas
- Sweetgreen
Health-oriented fast-casual alternative for customizable lunch and dinner
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Noodles & Company | $13.45 | +3.07% | $77.9M | — | — | 0.2 | +0.5% |
| Chipotle Mexican Grill | $32.93 | −0.63% | $42.48B | 30.4 | 26.0 | 3.4 | +9.3% |
| CAVA | $53.18 | +2.27% | $6.06B | 94.3 | 86.5 | 4.4 | +31.3% |
| Sweetgreen | $7.62 | +1.80% | $888.8M | 74.8 | — | 1.3 | +3.8% |
| Median | 74.8 | 56.2 | 3.4 | +9.3% |