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BDL vs NDLS // EV/EBITDA & P/E VALUATION

Flanigan's Enterprises Inc. (NYSE) VS. Noodles & Company (Class A) (NASDAQ) • 15-METRIC TALLY: BDL 10 — NDLS 0
■ METRIC PARITY
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (BDL VS. NDLS) EMERALD CELL = QUANTITATIVE EDGE
INSTITUTIONAL METRIC BDL NDLS SPREAD (A - B) ADVANTAGE DEDICATED URL
Gross Profit Margin — — — TIE /gross-margins <GO>
Return on Invested Capital (ROIC) 8.20% -35.00% +43.20 BDL /roic <GO>
EV/EBITDA & P/E Valuation ACTIVE 9.2x — — TIE /valuation <GO>
Free Cash Flow Yield 4.35% -5.50% +9.85 BDL /fcf-yield <GO>
Operating Margin 4.30% -6.40% +10.70 BDL /operating-margins <GO>
Net Profit Margin 2.50% -8.60% +11.10 BDL /net-margins <GO>
Revenue Growth (YoY) 9.60% 0.40% +9.20 BDL /revenue-growth <GO>
Dividend Yield & FCF Payout Safety 0.95% 0.00% +0.95 BDL /dividend-safety <GO>
Altman Z-Score & Debt/Equity 3.44 0.26 +3.18 BDL /balance-sheet <GO>
Piotroski F-Score Quality 8/9 2/9 +6.00 BDL /piotroski-score <GO>
Options Implied Move & Put/Call Skew — — — TIE /options-implied-move <GO>
RSI-14 & 200D SMA Momentum 79.5 60.4 +19.11 BDL /rsi-technicals <GO>
10Y Yield & FRED Macro Beta — — — TIE /macro-sensitivity <GO>
Forward P/E Multiple 19.9x — — TIE /forward-pe <GO>
Enterprise Scale & Market Cap $107.6M $93.0M $14.6M BDL /market-cap <GO>
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
FISCAL YEAR BDL REV NDLS REV BDL GROSS % NDLS GROSS % BDL FCF NDLS FCF
FY 2025 $205.2M $495.1M — — $4.7M -$5.1M
FY 2024 $187.2M $493.3M — — $3.2M -$21.2M
FY 2023 $174.4M $503.4M — — $8.5M $27.5M
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
BDL // BETA —
NDLS // BETA —