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Data as of Q2 2026
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Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Solve the discounted cash flow backwards, then stress-test the assumptions.
The most recent twelve months of free cash flow. Most current, and the most exposed to one quarter of working-capital timing.
To be worth $12.53 today, the market must believe free cash flow compounds 19.8%/yr for a decade (off $3.8M on the TTM basis).
Default is the published 10.0% — this company's own cost of capital could not be computed.
2-stage DCF · 0.01B shares (market data) · net debt $107.5M
mean -180.5% · volatility σ 84% · implied rate exceeded in 0/2 yrs
Central path = implied 19.8%/yr growth; shaded band = ±1σ (84%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Ranked against 27 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCD | $174.3B | 20.6× | 16.7× | 6.5× | 3.7% | — | 31.9% | -478% | 22.0% | 3.1× | 3,384 |
| YUM | $41.3B | 27.3× | 14.6× | 5.0× | 8.8% | 69.8% | 19.0% | -21.3% | -21.4% | -0.2× | 1,398 |
| CMG | $35.7B | 24.7× | 15.4× | 3.0× | 5.4% | — | 12.9% | 54.3% | 54.3% | -0.1× | 1,161 |
| QSR | $25.9B | 31.6× | 16.2× | 2.7× | 12.2% | — | 11.4% | 29.6% | 6.4% | 5.5× | 563 |
| DRI | $24.3B | 20.7× | 12.3× | 1.8× | 9.4% | 20.3% | 9.1% | 54.7% | 26.6% | 1.0× | 1,046 |
| YUMC | $15.0B | 17.7× | 8.4× | 1.3× | 4.4% | — | 7.9% | 17.3% | 17.2% | -0.3× | 640 |
| ARMK | $14.6B | 45.7× | 15.3× | 0.8× | 6.4% | — | 1.8% | 10.4% | 3.8% | 3.8× | 522 |
| TXRH | $11.0B | 27.5× | 16.0× | 1.9× | 9.4% | — | 7.0% | 28.4% | 28.4% | -0.2× | 620 |
| EAT | $7.9B | 17.3× | 9.3× | 1.4× | 7.9% | — | 8.4% | 110% | 110% | -0.1× | 493 |
| CAVA | $6.4B | 101.8× | 47.6× | 5.5× | 22.4% | — | 5.4% | 8.2% | 8.2% | -2.2× | 520 |
| CAKE | $5.7B | 37.4× | 20.6× | 1.5× | 4.7% | — | 4.0% | 34.0% | 13.9% | 1.4× | 338 |
| WING | $3.3B | 19.3× | 20.9× | 4.7× | 11.4% | — | 25.0% | -23.7% | 36.9% | 5.0× | 407 |
| ARCO | $1.7B | 8.0× | 4.7× | 0.4× | 4.7% | 98.1% | 4.5% | 27.5% | 11.1% | 1.4× | 173 |
| CBRL | $1.5B | 47.0× | 16.0× | 0.4× | -4.7% | 69.1% | 1.0% | 6.6% | 3.9% | 2.7× | 271 |
| BH | $1.3B | — | 21.8× | 3.3× | 9.2% | 59.2% | -9.5% | -7.2% | -4.9% | -0.4× | 115 |
| BJRI | $1.2B | 26.3× | 10.3× | 0.9× | 3.1% | 74.7% | 3.5% | 13.3% | 10.8% | 0.5× | 186 |
| BLMN | $860M | 100.5× | 7.4× | 0.2× | 0.1% | 70.2% | 0.2% | 2.5% | 0.7% | 3.4× | 231 |
| FWRG | $687M | 35.9× | 10.1× | 0.6× | 20.3% | — | 1.6% | 3.1% | 2.1% | 2.8× | 202 |
| PZZA | $600M | 20.3× | 7.1× | 0.3× | -0.3% | — | 1.5% | -6.9% | 11.3% | 3.8× | 255 |
| LOCO | $458M | 16.7× | 8.7× | 0.9× | 3.6% | — | 5.4% | 9.1% | 7.7% | 0.8× | 145 |
| KRUS | $422M | — | 40.4× | 1.5× | 18.9% | — | -0.7% | -0.8% | -0.8% | -5.1× | 145 |
| NATH | $418M | 21.0× | 14.2× | 2.6× | 9.4% | 34.3% | 12.4% | -141% | 59.0% | 0.8× | 124 |
| DIN | $394M | 28.0× | — | 0.5× | 8.2% | 40.9% | 1.9% | -6.2% | 1.9% | — | 149 |
| PTLO | $313M | 16.0× | 8.8× | 0.4× | 3.0% | — | 2.6% | 4.1% | 2.4% | 4.5× | 173 |
| PC | $274M | — | — | 82.0× | -12.2% | 24.8% | -127% | -52.1% | -50.5% | — | 2 |
| NDLS | $75M | — | — | 0.1× | 0.4% | — | -8.6% | 94.0% | -67.1% | — | 36 |
Peers = companies sharing NDLS's sector (Retail-Eating Places) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-08-31 | Christina Joseph CEO and President | Tax withholding | 1,903 | $14.36 | $27k |
| 2026-07-24 | Hynes Michael Chief Financial Officer | Tax withholding | 544 | $15.36 | $8k |
| 2026-05-15 | Christina Joseph CEO and President | Grant | 32,359 | $0.00 | $0 |
| 2026-05-15 | 2 co-filers Chief Financial Officer | Tax withholding | 853 | $12.59 | $11k |
| 2026-05-15 | 2 co-filers EVP - Technology | Tax withholding | 416 | $12.59 | $5k |
| 2026-05-15 | 2 co-filers Chief Accounting Officer | Tax withholding | 416 | $12.59 | $5k |
| 2026-05-15 | 5 co-filers Group filing | Otherindirect | 7,103 | $0.00 | $0 |
| 2026-05-15 | Jones Jeffrey W Director | Grant | 10,655 | $0.00 | $0 |
| 2026-05-15 | Madsen Andrew H Director | Grant | 7,103 | $0.00 | $0 |
| 2026-05-15 | Peakes Britain Director | Grant | 7,103 | $0.00 | $0 |
| 2026-05-15 | Schreiber Elisa Director | Grant | 7,103 | $0.00 | $0 |
| 2026-05-15 | Taylor Shawn A Director | Grant | 7,103 | $0.00 | $0 |
| 2026-05-15 | 2 co-filers EVP - Technology | Grant | 4,735 | $0.00 | $0 |
| 2026-05-15 | 2 co-filers Chief Accounting Officer | Grant | 4,735 | $0.00 | $0 |
| 2026-05-15 | 2 co-filers Chief Financial Officer | Grant | 12,628 | $0.00 | $0 |
| 2026-03-14 | Kline Corey EVP - Technology | Tax withholding | 192 | $6.11 | $1k |
| 2026-03-14 | Lockhart Kathryn Rae Chief Accounting Officer | Tax withholding | 192 | $6.11 | $1k |
| 2026-03-06 | Madsen Andrew H Director | Tax withholding | 2,111 | $5.99 | $13k |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$5.1M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: -67%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-21
Where each multiple sits in its own 13-yr range · 15th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 13-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 94% against ROIC -67% — 161% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2019 | FY2020 | FY2021 | FY2023 | FY2024 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 26.5 | 25.3 | — | — | — | — | — | — |
| SG&A | 10.1 | 9.4 | 10.9 | 10.0 | 9.8 | 10.3 | 10.3 | 9.9 |
| Operating Income | -0.8 | 1.2 | -5.1 | 1.2 | -0.2 | -1.0 | -5.6 | -6.4 |
| Income Tax | -0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Income | -1.8 | 0.4 | -5.9 | 0.8 | -0.7 | -2.0 | -7.3 | -8.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NDLS: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.3M is below the $1.8M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2022-03-29 (10-Q). The cash figure is from 2025-12-30, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~10.0% on $108.8M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2017 | 73.2% | -13.9% | -14.7% |
| FY2018 | 73.4% | -7.4% | -8.2% |
| FY2019 | 73.5% | -0.8% | -1.8% |
| FY2019 | 74.7% | 1.2% | 0.4% |
| FY2020 | not reported | -5.1% | -5.9% |
| FY2021 | not reported | 1.2% | 0.8% |
| FY2023 | not reported | -0.2% | -0.7% |
| FY2024 | not reported | -1.0% | -2.0% |
| FY2024 | not reported | -5.6% | -7.3% |
| FY2025 | not reported | -6.4% | -8.6% |
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: positive EBIT.
Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: 3 years of cash flow.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
This schedule comes from a filing dated 2022-03-29, 1668 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2022-03-29 (10-Q); cash from the 2025-12-30 balance sheet; FCF from FY2025. Free cash flow is negative, so projected resources fall rather than accumulate.
Balance sheet at 2025-12-30. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda.
No positive free cash flow to discount, so the price cannot be expressed as a growth requirement.
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
No material counter-signal in the checked set: reverse-DCF implied growth, historical FCF CAGR, per-year FCF growth distribution, reporting-basis breaks, discount rate used, free-cash-flow basis (stock comp charged?).
Missing from our data, so excluded from this answer: free_cash_flow.
EOD close · as of 2026-10-21
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2024 | FY2023 | FY2021 | FY2020 | FY2019 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $495.1M 100.0% | $493.3M 100.0% | $503.4M 100.0% | $509.5M 100.0% | $475.2M 100.0% | $393.7M 100.0% | $462.4M 100.0% | $457.8M 100.0% | $456.5M 100.0% | $487.5M 100.0% |
| Cost of Revenue | — | — | — | — | — | — | $117.2M 25.3% | $121.1M 26.5% | $121.5M 26.6% | $130.6M 26.8% |
| Selling, General & Admin | $49.1M 9.9% | $50.8M 10.3% | $51.8M 10.3% | $49.9M 9.8% | $47.5M 10.0% | $42.9M 10.9% | $43.4M 9.4% | $46.1M 10.1% | $39.7M 8.7% | $55.7M 11.4% |
| Total Operating Expenses | $526.7M 106.4% | $521.0M 105.6% | $508.4M 101.0% | $510.3M 100.2% | $469.3M 98.8% | $413.7M 105.1% | $457.0M 98.8% | $461.6M 100.8% | $490.3M 107.4% | $555.0M 113.9% |
| Operating Income | -$31.6M -6.4% | -$27.8M -5.6% | -$5.0M -1.0% | -$832K -0.2% | $5.8M 1.2% | -$20.0M -5.1% | $5.4M 1.2% | -$3.8M -0.8% | -$33.9M -7.4% | -$67.5M -13.9% |
| Interest Expense | $10.9M 2.2% | $8.4M 1.7% | $4.8M 1.0% | $2.4M 0.5% | $2.1M 0.4% | $3.1M 0.8% | $2.9M 0.6% | $4.3M 0.9% | $3.8M 0.8% | $2.9M 0.6% |
| Pretax Income | -$42.5M -8.6% | -$36.2M -7.3% | -$9.8M -2.0% | -$3.3M -0.6% | $3.7M 0.8% | -$23.2M -5.9% | $1.8M 0.4% | -$8.7M -1.9% | -$37.7M -8.3% | -$70.4M -14.5% |
| Income Tax Expense | $64K 0.0% | $54K 0.0% | $24K 0.0% | $37K 0.0% | $70K 0.0% | $84K 0.0% | $104K 0.0% | -$248K -0.1% | -$207K -0.0% | $1.2M 0.3% |
| Net Income | -$42.6M -8.6% | -$36.2M -7.3% | -$9.9M -2.0% | -$3.3M -0.7% | $3.7M 0.8% | -$23.3M -5.9% | $1.6M 0.4% | -$8.4M -1.8% | -$37.5M -8.2% | -$71.7M -14.7% |
| Per Share | ||||||||||
| EPS (Basic) | -$7.36 | -$6.37 | -$1.72 | -$0.07 | $0.08 | -$0.53 | $0.04 | -$0.20 | -$1.20 | -$2.58 |
| EPS (Diluted) | -$7.36 | -$6.37 | -$1.72 | -$0.07 | $0.08 | -$0.53 | $0.04 | -$0.20 | -$1.20 | -$2.58 |
| Weighted Avg Shares (Basic) | 5.8M | 5.7M | 5.7M | 45.9M | 45.5M | 44.3M | 44.0M | 42.3M | 37.8M | 27.8M |
| Weighted Avg Shares (Diluted) | 5.8M | 5.7M | 5.7M | 45.9M | 46.1M | 44.3M | 45.0M | 42.3M | 37.8M | 27.8M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.