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Noodles & Company NDLS Occupancy — Restaurant operating costs

Other product segments

Franchising royalties and fees, and other
$127.17M+2.8%
Labor
$36.41M-7.6%
Restaurant revenue
$30.89M-4.3%

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SGOccupancy and related expenses — Total restaurant operating costs
$17.77M+13.4%
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SIEBRent And Occupancy — Operating Expenses
$454K-2.8%
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MCDOccupancy and other operating expenses
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QSRRestaurant occupancy expense and other — Total
$122M+8.0%
CAVA Group logo
CAVAOccupancy and equipment
$29.86M+22.3%

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-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Noodles & Company's occupancy — restaurant operating costs?
Noodles & Company (NDLS) reported occupancy — restaurant operating costs of $10.35M in Q1 2026.
How has Noodles & Company's occupancy — restaurant operating costs changed year-over-year?
Noodles & Company's occupancy — restaurant operating costs decreased by 9.9% year-over-year, from $11.49M to $10.35M.
What is the long-term trend for Noodles & Company's occupancy — restaurant operating costs?
Over 4 years (2021 to 2025), Noodles & Company's occupancy — restaurant operating costs has grown at a -0.7% compound annual growth rate (CAGR), from $45.96M to $44.62M.
What does occupancy — restaurant operating costs mean?
This metric represents the total operating expenses specifically associated with the occupancy of restaurant locations, including rent, common area maintenance, and property-related taxes. It serves as a key indicator of the fixed cost burden required to maintain the physical footprint of the restaurant portfolio. Monitoring this helps investors assess the efficiency of real estate utilization and the impact of lease obligations on overall store-level profitability.