$547.5 M

NDLS Mkt cap, 20-Sep-2018

$112.8 M

Noodles & Company Revenue Q2, 2017
Noodles & Company Gross profit (Q2, 2017)83.2 M
Noodles & Company Gross profit margin (Q2, 2017), %73.8%
Noodles & Company Net income (Q2, 2017)-1.8 M
Noodles & Company EBIT (Q2, 2017)-808 K
Noodles & Company Cash, 07-Apr-20173.2 M

Noodles & Company Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

350.9 m403.7 m455.5 m487.5 m487.5 m

Revenue growth, %

15%13%7%

Cost of goods sold

120.5 m130.6 m130.6 m

Gross profit

335 m356.8 m356.8 m

Gross profit Margin, %

74%73%73%

General and administrative expense

55.7 m

Operating expense total

55.7 m

EBIT

(21.1 m)(67.5 m)(67.5 m)

EBIT margin, %

(5%)(14%)(14%)

Interest expense

1.4 m2.9 m2.9 m

Pre tax profit

(22.5 m)(70.4 m)(70.4 m)

Income tax expense

(8.7 m)1.2 m1.2 m

Net Income

6.7 m11.4 m(13.8 m)(71.7 m)(71.7 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2018Q2, 2017

Revenue

115.2 m117.3 m114 m121.4 m122.7 m116.7 m112.8 m

Cost of goods sold

29.9 m30.9 m30.2 m32.2 m33.1 m32.1 m29.6 m

Gross profit

85.4 m86.4 m83.8 m89.2 m89.6 m84.6 m83.2 m

Gross profit Margin, %

74%74%74%74%73%73%74%

General and administrative expense

9.2 m9.4 m10 m9.8 m15.3 m10.7 m9.4 m

Operating expense total

110.2 m132.6 m116.8 m132.7 m131.7 m142.4 m113.6 m

EBIT

5 m(15.3 m)(2.8 m)(11.3 m)(9.1 m)(25.6 m)(808 k)

EBIT margin, %

4%(13%)(2%)(9%)(7%)(22%)(1%)

Interest expense

198 k391 k628 k598 k738 k1 m927 k

Pre tax profit

4.8 m(15.7 m)(3.5 m)(11.9 m)(9.8 m)(26.7 m)(1.7 m)

Income tax expense

1.8 m(5.9 m)(1.1 m)2.2 m41 k191 k80 k

Net Income

3.3 m1.4 m3.5 m2.9 m(2.8 m)3.1 m(9.8 m)(2.4 m)(14.1 m)(9.8 m)(26.8 m)(1.8 m)

Noodles & Company Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

968 k1.9 m1.9 m1.8 m1.8 m

Accounts Receivable

4.2 m4.6 m5 m5.4 m5.4 m

Inventories

7.2 m9.4 m10.5 m11.3 m11.3 m

Current Assets

18.3 m22.8 m25.4 m25.8 m25.8 m

PP&E

167.6 m205.6 m203.7 m173.5 m173.5 m

Goodwill

6.4 m6.4 m6.4 m6.4 m

Total Assets

187.8 m238.9 m240 m209.5 m209.5 m

Accounts Payable

8.2 m10.9 m15.1 m10.6 m10.6 m

Short-term debt

Current Liabilities

24.2 m25.8 m32.9 m49 m49 m

Long-term debt

6.3 m27.5 m67.7 m84.7 m84.7 m

Total Debt

84.7 m

Total Liabilities

183.6 m

Additional Paid-in Capital

116.6 m120.9 m120.6 m124.3 m124.3 m

Retained Earnings

10.3 m21.7 m8 m(63.7 m)(63.7 m)

Total Equity

124.5 m140.1 m93.8 m25.8 m25.8 m

Debt to Equity Ratio

3.3 x

Debt to Assets Ratio

0.4 x

Financial Leverage

1.5 x1.7 x2.6 x8.1 x8.1 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2018Q2, 2017

Cash

589 k668 k710 k2.2 m1.6 m2 m2 m1.9 m1.9 m2 m3.2 m3.2 m

Accounts Receivable

5.8 m4 m4.2 m3.9 m3.8 m4.3 m3.9 m5.2 m5.4 m4.8 m3.4 m2.9 m

Inventories

7.1 m7.6 m8.3 m9.2 m9.7 m9.9 m10.4 m10.7 m10.8 m11.2 m9.7 m10.1 m

Current Assets

18.5 m17.8 m19.2 m22 m22.9 m23.2 m24.1 m26.7 m21.9 m27.1 m23.8 m23.3 m

PP&E

158.4 m172.3 m180.4 m195.1 m201.9 m208.8 m198.1 m206.5 m201.8 m202.3 m169.7 m164.1 m

Goodwill

6.5 m6.4 m2 m2 m6.4 m6.4 m6.4 m6.4 m6.4 m

Total Assets

181.8 m192.3 m202.6 m227.5 m235.3 m242.7 m234.2 m244 m233.9 m239.6 m203.6 m197.4 m

Accounts Payable

8.8 m8.6 m9 m11.7 m10.8 m11.4 m11.3 m10.1 m9.6 m9.3 m11 m9.4 m

Current Liabilities

27.6 m24.5 m24.9 m32 m28.4 m28.8 m32.3 m31.3 m28.1 m35.5 m49 m42.5 m

Long-term debt

1.7 m6.6 m9.6 m21.5 m22.5 m29.9 m60.4 m74.1 m78.5 m

Total Debt

1.7 m6.6 m9.6 m21.5 m22.5 m29.9 m60.4 m74.1 m78.5 m

Total Liabilities

59.3 m65.6 m70.7 m91.9 m96.5 m106.1 m136.7 m151.9 m154.6 m168.8 m158.4 m153.5 m

Additional Paid-in Capital

114.3 m117.5 m119.2 m120 m122.4 m123.4 m120.1 m121.2 m122.5 m123.9 m158.9 m170.9 m

Retained Earnings

7.9 m11.7 m15.3 m18.2 m19 m22 m12.2 m5.6 m(8.5 m)(18.3 m)(90.6 m)(92.4 m)

Total Equity

122.5 m126.7 m131.9 m135.7 m138.8 m136.6 m97.5 m92.1 m79.3 m70.8 m33.7 m43.9 m

Financial Leverage

1.5 x1.5 x1.5 x1.7 x1.7 x1.8 x2.4 x2.6 x2.9 x3.4 x6 x4.5 x

Noodles & Company Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

6.7 m11.4 m(13.8 m)(71.7 m)(71.7 m)

Depreciation and Amortization

20.6 m24.8 m27.8 m28.1 m28.1 m

Accounts Receivable

(437 k)(443 k)(443 k)

Inventories

(1.2 m)(1.8 m)(1.1 m)(790 k)(790 k)

Accounts Payable

(230 k)2.7 m2.8 m(2.4 m)(2.4 m)

Cash From Operating Activities

43.6 m49 m44.5 m24.7 m24.7 m

Purchases of PP&E

(54.4 m)(56.4 m)(50.1 m)(43.3 m)(43.3 m)

Cash From Investing Activities

(54.4 m)(72.1 m)(50.7 m)(42.8 m)(42.8 m)

Long-term Borrowings

(224.5 m)(289.3 m)(384.8 m)(1 m)(1 m)

Cash From Financing Activities

11.2 m24 m6.4 m17.9 m17.9 m

Income Taxes Paid

392 k(24 k)(193 k)564 k564 k

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2018

Net Income

4.3 m1.4 m5 m7.9 m(2.8 m)310 k(9.5 m)(2.4 m)(14.1 m)(9.8 m)(26.8 m)

Depreciation and Amortization

15.1 m5.6 m11.5 m18 m6.9 m13.8 m21 m6.9 m7.1 m7 m6.3 m

Accounts Receivable

(1.3 m)244 k69 k318 k708 k242 k686 k(224 k)5.4 m4.8 m3.4 m

Inventories

(1 m)(400 k)(1 m)(1.6 m)(277 k)(473 k)(945 k)(231 k)10.8 m11.2 m9.7 m

Accounts Payable

787 k1.4 m651 k3.2 m459 k(329 k)512 k(2.7 m)9.6 m9.3 m11 m

Cash From Operating Activities

32.5 m10.3 m19.1 m37.5 m13.3 m22.7 m37.9 m5.7 m

Purchases of PP&E

(39.8 m)(11.5 m)(24.5 m)(39.9 m)(9.8 m)(21.9 m)(35.6 m)(12.3 m)

Cash From Investing Activities

(39.8 m)(11.5 m)(24.5 m)(53.6 m)(9.8 m)(22.5 m)(36.2 m)(12.3 m)

Long-term Borrowings

(194.5 m)(41.6 m)(125.7 m)(196.1 m)(87.3 m)(179.9 m)(295.1 m)(95.6 m)

Cash From Financing Activities

7.3 m953 k5.1 m17.4 m(3.8 m)(60 k)(1.4 m)6.5 m

Income Taxes Paid

1.9 m930 k(163 k)(505 k)(463 k)1.1 m1.5 m(1 m)

Noodles & Company Ratios

USDY, 2017

Financial Leverage

4.5 x
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Noodles & Company Operating Metrics

FY, 2015FY, 2017FY, 2018

Owned Restaurants

492 457 412

Franchised Restaurants

70 75 66

Average Spending per Customer

$8.55 $8.68 $8.81

Email Subscribers

1.30 m1.60 m1.80 m
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