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Noodles & Company NDLS Franchising royalties and fees, and other — Restaurant operating costs

Other product segments

Labor
$36.41M-7.6%
Restaurant revenue
$30.89M-4.3%
Occupancy
$10.35M-9.9%

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Other financials

Income statement

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Revenue$123.8M0.0%
Operating income-$812.0K+87.3%
Net income-$3.4M+62.3%
EPS (diluted)-$0.58+63.3%

Balance sheet

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Cash & equivalents$1.4M+3.4%
Total debt$253.7M-12.6%
Total equity-$48.0M-246%
Total assets$246.3M-22.9%

Cash flow

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Operating cash flow$6.0M+49.2%
CapEx$2.1M-28.8%
Free cash flow$3.9M+253%

Valuation

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Market cap$88.09M+168%
Enterprise value$340.32M+7.9%
P/S0.2×+0.1×

Profitability

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Gross margin74.7%
Operating margin-5.3%-0.6pp
Net margin-7.5%-0.4pp
FCF margin-3.7%

Returns & leverage

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Return on equity-180.2%
Debt / equity77.5×+68.6×
Current ratio0.3×0.0×

Where this comes from

Reported directly by Noodles & Company in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization.

The official record: Noodles & Company’s 10-K, filed March 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Noodles & Company's franchising royalties and fees, and other — restaurant operating costs?
Noodles & Company (NDLS) reported franchising royalties and fees, and other — restaurant operating costs of $31.79M in Q4 2025.
How has Noodles & Company's franchising royalties and fees, and other — restaurant operating costs changed year-over-year?
Noodles & Company's franchising royalties and fees, and other — restaurant operating costs increased by 2.8% year-over-year, from $30.92M to $31.79M.
What is the long-term trend for Noodles & Company's franchising royalties and fees, and other — restaurant operating costs?
Over 3 years (2022 to 2025), Noodles & Company's franchising royalties and fees, and other — restaurant operating costs has grown at a -2.7% compound annual growth rate (CAGR), from $137.86M to $127.17M.
What does franchising royalties and fees, and other — restaurant operating costs mean?
This metric captures the direct costs and operational expenses incurred specifically to support the franchise segment, including administrative support, training, and oversight of franchised units. It reflects the cost structure required to maintain and grow the franchise network independent of company-owned store operations. Analyzing these costs is essential for evaluating the profitability and operational efficiency of the franchising business model.