Noble Romans Financials
This page shows Noble Romans (NROM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Noble Romans has an operating margin of 9.7%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 49/100, indicating healthy but not exceptional operating efficiency. This is down from 23.9% the prior year.
Noble Romans's revenue grew 5.4% year-over-year to $15.1M, a solid pace of expansion. This earns a growth score of 44/100.
Noble Romans has a moderate D/E ratio of 1.98. This balance of debt and equity financing earns a leverage score of 38/100.
Noble Romans's current ratio of 0.90 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 16/100, which could limit financial flexibility.
Noble Romans scores -0.55, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.2M) relative to total liabilities ($14.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Noble Romans passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Noble Romans generates $-282.60 in operating cash flow ($897K OCF vs -$3K net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Noble Romans earns $0.9 in operating income for every $1 of interest expense ($1.5M vs $1.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Noble Romans generated $15.1M in revenue in fiscal year 2024. This represents an increase of 5.4% from the prior year.
Noble Romans's EBITDA was $2.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 48.3% from the prior year.
Noble Romans reported -$3K in net income in fiscal year 2024. This represents a decrease of 100.2% from the prior year.
Noble Romans earned $0.00 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 100.0% from the prior year.
Noble Romans held $710K in cash against $4.4M in long-term debt as of fiscal year 2024.
Noble Romans had 22M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Noble Romans's operating margin was 9.7% in fiscal year 2024, reflecting core business profitability. This is down 14.2 percentage points from the prior year.
Noble Romans's net profit margin was -0.0% in fiscal year 2024, showing the share of revenue converted to profit. This is down 10.2 percentage points from the prior year.
NROM Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.1M+1.6% | $4.1M+8.5% | $3.8M+1.7% | $3.7M-5.3% | $3.9M+6.5% | $3.7M+3.8% | $3.5M-5.6% | $3.7M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $468K+21.2% | $386K-9.0% | $424K-54.3% | $928K+62.9% | $570K-1.2% | $577K+3811.3% | -$16K-103.0% | $519K |
| Operating Income | $819K-10.4% | $914K+82.2% | $502K+634.7% | $68K-87.8% | $558K+29.1% | $432K-37.9% | $696K+35.4% | $514K |
| Interest Expense | $406K-4.3% | $424K+28.5% | $330K-16.0% | $393K-9.8% | $435K+10.4% | $394K-36.7% | $623K+73.3% | $359K |
| Income Tax | $141K+18.1% | $120K+189.8% | $41K+126.2% | -$157K | $0 | $0+100.0% | -$274K | $0 |
| Net Income | $640K+72.5% | $371K+183.9% | $131K+178.3% | -$167K-393.5% | $57K+165.7% | -$86K-177.3% | $112K-27.6% | $155K |
| EPS (Diluted) | $0.03+50.0% | $0.02+100.0% | $0.01+200.0% | $-0.01 | $0.00 | $0.00-100.0% | $0.010.0% | $0.01 |
NROM Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $16.1M-0.9% | $16.2M-0.4% | $16.3M-2.9% | $16.8M-3.3% | $17.3M-3.7% | $18.0M-2.6% | $18.5M+2.7% | $18.0M |
| Current Assets | $3.3M+7.0% | $3.0M+10.1% | $2.8M-7.6% | $3.0M-6.5% | $3.2M-13.1% | $3.7M-4.2% | $3.8M+9.1% | $3.5M |
| Cash & Equivalents | $720K+13.2% | $636K+12.6% | $565K-20.5% | $710K-11.3% | $801K-31.2% | $1.2M+33.6% | $872K+54.8% | $564K |
| Inventory | $1.0M+3.5% | $1.0M+2.1% | $983K-0.4% | $987K-0.1% | $988K-1.2% | $1000K+3.5% | $966K+2.4% | $943K |
| Accounts Receivable | $723K+9.1% | $663K+25.1% | $530K-9.7% | $587K | N/A | N/A | $1.2M+195.4% | $396K |
| Goodwill | $278K0.0% | $278K0.0% | $278K0.0% | $278K0.0% | $278K0.0% | $278K0.0% | $278K0.0% | $278K |
| Total Liabilities | $12.7M-5.9% | $13.5M-3.2% | $13.9M-4.3% | $14.6M-4.1% | $15.2M-4.5% | $15.9M-2.4% | $16.3M+2.3% | $15.9M |
| Current Liabilities | $8.2M+159.0% | $3.2M+2.9% | $3.1M-6.8% | $3.3M-65.6% | $9.6M-5.2% | $10.2M+180.8% | $3.6M+82.0% | $2.0M |
| Long-Term Debt | N/A | N/A | N/A | $4.4M | N/A | N/A | $5.2M | N/A |
| Total Equity | $3.4M+23.7% | $2.7M+16.2% | $2.4M+6.3% | $2.2M+2.2% | $2.2M+2.8% | $2.1M-3.8% | $2.2M+5.5% | $2.1M |
| Retained Earnings | -$21.5M+2.9% | -$22.2M+1.6% | -$22.5M+0.6% | -$22.7M+0.1% | -$22.7M+0.3% | -$22.7M-0.4% | -$22.6M-4.8% | -$21.6M |
NROM Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $360K-9.4% | $397K+151.3% | $158K-60.5% | $401K+551.5% | -$89K-115.8% | $562K+9.7% | $512K-27.9% | $710K |
| Capital Expenditures | $51K+16.9% | $44K+125.3% | $19K-15.9% | $23K-8.6% | $25K+34.3% | $19K+218.0% | -$16K-4645.9% | $351 |
| Free Cash Flow | $309K-12.6% | $354K+155.0% | $139K+33893.1% | $408+100.4% | -$114K-121.0% | $543K+9.4% | $496K-30.1% | $710K |
| Investing Cash Flow | -$51K-16.9% | -$44K-125.3% | -$19K+7.6% | -$21K+16.8% | -$25K-34.3% | -$19K-143.2% | $44K+12523.4% | -$351 |
| Financing Cash Flow | -$225K+20.4% | -$283K+0.6% | -$284K-106.9% | -$137K+45.0% | -$250K0.0% | -$250K-1.2% | -$247K+70.3% | -$832K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NROM Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 19.8%-2.6pp | 22.4%+9.1pp | 13.3%+11.5pp | 1.8%-12.4pp | 14.3%+2.5pp | 11.8%-7.9pp | 19.7%+6.0pp | 13.7% |
| Net Margin | 15.4%+6.4pp | 9.1%+5.6pp | 3.5%+8.0pp | -4.5%-6.0pp | 1.5%+3.8pp | -2.4%-5.5pp | 3.2%-1.0pp | 4.1% |
| Return on Equity | 18.9%+5.3pp | 13.6%+8.0pp | 5.5%-2.6pp | 8.2%+5.5pp | 2.6% | N/A | 5.1%-2.3pp | 7.4% |
| Return on Assets | 4.0%+1.7pp | 2.3%+1.5pp | 0.8%+1.8pp | -1.0%-1.3pp | 0.3%+0.8pp | -0.5%-1.1pp | 0.6%-0.2pp | 0.9% |
| Current Ratio | 0.40-0.6 | 0.96+0.1 | 0.890.0 | 0.90+0.6 | 0.33-0.0 | 0.36-0.7 | 1.06-0.7 | 1.76 |
| Debt-to-Equity | 3.75-1.2 | 4.93-1.0 | 5.91+3.9 | 1.98-5.0 | 7.01-0.5 | 7.54+5.2 | 2.36-5.3 | 7.67 |
| FCF Margin | 7.4%-1.2pp | 8.7%+5.0pp | 3.7%+3.7pp | 0.0%+2.9pp | -2.9%-17.7pp | 14.8%+0.7pp | 14.1%-4.9pp | 19.0% |
Note: The current ratio is below 1.0 (0.90), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Noble Romans's annual revenue?
Noble Romans (NROM) reported $15.1M in total revenue for fiscal year 2024. This represents a 5.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Noble Romans's revenue growing?
Noble Romans (NROM) revenue grew by 5.4% year-over-year, from $14.4M to $15.1M in fiscal year 2024.
Is Noble Romans profitable?
No, Noble Romans (NROM) reported a net income of -$3K in fiscal year 2024, with a net profit margin of -0.0%.
What is Noble Romans's earnings per share (EPS)?
Noble Romans (NROM) reported diluted earnings per share of $0.00 for fiscal year 2024. This represents a -100.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Noble Romans's EBITDA?
Noble Romans (NROM) had EBITDA of $2.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Noble Romans have?
As of fiscal year 2024, Noble Romans (NROM) had $710K in cash and equivalents against $4.4M in long-term debt.
What is Noble Romans's operating margin?
Noble Romans (NROM) had an operating margin of 9.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Noble Romans's net profit margin?
Noble Romans (NROM) had a net profit margin of -0.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Noble Romans's operating cash flow?
Noble Romans (NROM) generated $897K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Noble Romans's total assets?
Noble Romans (NROM) had $16.8M in total assets as of fiscal year 2024, including both current and long-term assets.
How many shares does Noble Romans have outstanding?
Noble Romans (NROM) had 22M shares outstanding as of fiscal year 2024.
What is Noble Romans's current ratio?
Noble Romans (NROM) had a current ratio of 0.90 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Noble Romans's debt-to-equity ratio?
Noble Romans (NROM) had a debt-to-equity ratio of 1.98 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Noble Romans's return on assets (ROA)?
Noble Romans (NROM) had a return on assets of -0.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Noble Romans's Altman Z-Score?
Noble Romans (NROM) has an Altman Z-Score of -0.55, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Noble Romans's Piotroski F-Score?
Noble Romans (NROM) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Noble Romans's earnings high quality?
Noble Romans (NROM) has an earnings quality ratio of -282.60x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Noble Romans cover its interest payments?
Noble Romans (NROM) has an interest coverage ratio of 0.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Noble Romans?
Noble Romans (NROM) scores 37 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.