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.

Noble Romans Financials

NROM

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

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

Financial Profile 34/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

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 44/100, indicating healthy but not exceptional operating efficiency. This is down from 23.9% the prior year.

Growth

Noble Romans's revenue grew 5.4% year-over-year to $15.1M, a solid pace of expansion. This earns a growth score of 42/100.

Leverage

Noble Romans has a moderate D/E ratio of 1.98. This balance of debt and equity financing earns a leverage score of 62/100.

Liquidity

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 13/100, which could limit financial flexibility.

Returns

Noble Romans generates a -0.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100. This is down from 66.6% the prior year.

Altman Z-Score Distress

-0.40

Noble Romans scores -0.40, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($7.8M) relative to total liabilities ($14.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

5/9

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.

Earnings Quality Mixed

-282.60x

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.

Interest Coverage At Risk

0.9x

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

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Earnings & Revenue

Revenue

$15.1M

YoY+5.4%

5Y CAGR+5.3%

10Y CAGR+6.7%

Noble Romans generated $15.1M in revenue in fiscal year 2024. This represents an increase of 5.4% from the prior year.

EBITDA

$2.0M

YoY-48.3%

5Y CAGR-8.0%

10Y CAGR-4.6%

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.

Net Income

-$3K

YoY-100.2%

Noble Romans reported -$3K in net income in fiscal year 2024. This represents a decrease of 100.2% from the prior year.

EPS (Diluted)

$0.00

YoY-100.0%

Noble Romans earned $0.00 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 100.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$710K

YoY-18.6%

5Y CAGR+26.6%

10Y CAGR+13.5%

Noble Romans held $710K in cash against $4.4M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

22M

YoY+0.0%

5Y CAGR+0.0%

10Y CAGR+1.0%

Noble Romans had 22M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

9.7%

YoY-14.2pp

5Y CAGR-12.6pp

10Y CAGR-28.7pp

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.

Net Margin

-0.0%

YoY-10.2pp

5Y CAGR+3.2pp

10Y CAGR-20.1pp

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.

Return on Equity

-0.1%

YoY-66.8pp

5Y CAGR+4.7pp

10Y CAGR-11.7pp

Noble Romans's ROE was -0.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 66.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

NROM Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$15.1M+5.4%	$14.4M-0.5%	$14.5M+4.1%	$13.9M+20.4%	$11.5M-1.4%	$11.7M
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.6M+70.6%	$1.5M-28.5%	$2.2M+21.1%	$1.8M+4.3%	$1.7M-1.3%	$1.7M
Operating Income	$1.5M-57.1%	$3.4M+704.2%	$428K-75.5%	$1.7M-24.7%	$2.3M-11.5%	$2.6M
Interest Expense	$1.6M-6.1%	$1.7M-7.4%	$1.9M+38.4%	$1.4M-28.9%	$1.9M+147.2%	$775K
Income Tax	-$157K	$0+100.0%	-$142K-11.7%	-$128K-115.2%	$840K-8.4%	$917K
Net Income	-$3K-100.2%	$1.5M+211.1%	-$1.3M-357.9%	$509K+109.5%	-$5.4M-1323.6%	-$378K
EPS (Diluted)	$0.00-100.0%	$0.07+216.7%	$-0.06-400.0%	$0.02+108.3%	$-0.24-1100.0%	$-0.02

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$4.1M+1.6%	$4.1M+8.5%	$3.8M+1.7%	$3.7M-4.7%	$3.9M-0.6%	$3.9M+6.5%	$3.7M+3.8%	$3.5M
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+64.0%	$566K-0.7%	$570K-1.2%	$577K+3811.3%	-$16K
Operating Income	$819K-10.4%	$914K+82.2%	$502K+634.7%	$68K-83.6%	$417K-25.3%	$558K+29.1%	$432K-37.9%	$696K
Interest Expense	$406K-4.3%	$424K+28.5%	$330K-16.0%	$393K-5.5%	$416K-4.5%	$435K+10.4%	$394K-36.7%	$623K
Income Tax	$141K+18.1%	$120K+189.8%	$41K+126.2%	-$157K	$0	$0	$0+100.0%	-$274K
Net Income	$640K+72.5%	$371K+183.9%	$131K+178.3%	-$167K-186.3%	$193K+240.0%	$57K+165.7%	-$86K-177.3%	$112K
EPS (Diluted)	$0.03+50.0%	$0.02+100.0%	$0.01	N/A	$0.01	$0.00	$0.00	N/A

NROM Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$16.8M-9.3%	$18.5M+0.7%	$18.3M-5.3%	$19.4M+5.2%	$18.4M-3.6%	$19.1M
Current Assets	$3.0M-22.1%	$3.8M+26.4%	$3.0M-15.2%	$3.6M+6.5%	$3.4M+17.4%	$2.9M
Cash & Equivalents	$710K-18.6%	$872K+11.1%	$786K-37.8%	$1.3M+5.8%	$1.2M+447.5%	$218K
Inventory	$987K+2.2%	$966K-3.2%	$998K+0.4%	$994K+11.6%	$891K+1.1%	$881K
Accounts Receivable	$587K-49.8%	$1.2M+233.9%	$350K+7.9%	$324K+60.6%	$202K	N/A
Goodwill	$278K0.0%	$278K0.0%	$278K0.0%	$278K0.0%	$278K0.0%	$278K
Total Liabilities	$14.6M-10.7%	$16.3M-7.6%	$17.6M+7.0%	$16.5M+2.6%	$16.1M+42.5%	$11.3M
Current Liabilities	$3.3M-8.5%	$3.6M+3.5%	$3.5M+122.3%	$1.6M+22.1%	$1.3M-33.4%	$1.9M
Long-Term Debt	$4.4M-15.5%	$5.2M	N/A	N/A	N/A	N/A
Total Equity	$2.2M+1.1%	$2.2M+208.5%	$710K-75.5%	$2.9M+22.8%	$2.4M-69.9%	$7.8M
Retained Earnings	-$22.7M0.0%	-$22.6M+6.1%	-$24.1M-10.1%	-$21.9M+2.3%	-$22.4M-31.6%	-$17.0M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$16.1M-0.9%	$16.2M-0.4%	$16.3M-2.9%	$16.8M-0.5%	$16.8M-2.9%	$17.3M-3.7%	$18.0M-2.6%	$18.5M
Current Assets	$3.3M+7.0%	$3.0M+10.1%	$2.8M-7.6%	$3.0M+0.5%	$3.0M-7.0%	$3.2M-13.1%	$3.7M-4.2%	$3.8M
Cash & Equivalents	$720K+13.2%	$636K+12.6%	$565K-20.5%	$710K+28.8%	$551K-31.2%	$801K-31.2%	$1.2M+33.6%	$872K
Inventory	$1.0M+3.5%	$1.0M+2.1%	$983K-0.4%	$987K+2.1%	$966K-2.2%	$988K-1.2%	$1000K+3.5%	$966K
Accounts Receivable	$723K+9.1%	$663K+25.1%	$530K-9.7%	$587K	N/A	N/A	N/A	$1.2M
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+0.5%	$14.5M-4.6%	$15.2M-4.5%	$15.9M-2.4%	$16.3M
Current Liabilities	$8.2M+159.0%	$3.2M+2.9%	$3.1M-6.8%	$3.3M-63.9%	$9.2M-4.8%	$9.6M-5.2%	$10.2M+180.8%	$3.6M
Long-Term Debt	N/A	N/A	N/A	$4.4M	N/A	N/A	N/A	$5.2M
Total Equity	$3.4M+23.7%	$2.7M+16.2%	$2.4M+6.3%	$2.2M-6.6%	$2.4M+9.5%	$2.2M+2.8%	$2.1M-3.8%	$2.2M
Retained Earnings	-$21.5M+2.9%	-$22.2M+1.6%	-$22.5M+0.6%	-$22.7M-0.7%	-$22.5M+0.9%	-$22.7M+0.3%	-$22.7M-0.4%	-$22.6M

NROM Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$897K-42.8%	$1.6M+5202.0%	$30K-98.1%	$1.5M-9.4%	$1.7M+11.1%	$1.5M
Capital Expenditures	N/A	$14K-97.3%	$508K-65.0%	$1.4M-30.5%	$2.1M+620.5%	$289K
Free Cash Flow	N/A	$1.6M+425.3%	-$478K-791.2%	$69K+116.9%	-$409K-133.5%	$1.2M
Investing Cash Flow	-$88K-738.7%	$14K+102.7%	-$508K+65.0%	-$1.4M+30.5%	-$2.1M-620.5%	-$289K
Financing Cash Flow	-$887K+40.7%	-$1.5M	$0	$0-100.0%	$1.4M+228.6%	-$1.1M
Dividends Paid	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

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$360K-9.4%	$397K+151.3%	$158K-60.5%	$401K+1601.7%	$24K+126.5%	-$89K-115.8%	$562K+9.7%	$512K
Capital Expenditures	$51K+16.9%	$44K+125.3%	$19K	N/A	$23K-8.6%	$25K+34.3%	$19K+218.0%	-$16K
Free Cash Flow	$309K-12.6%	$354K+155.0%	$139K	N/A	$408+100.4%	-$114K-121.0%	$543K+9.4%	$496K
Investing Cash Flow	-$51K-16.9%	-$44K-125.3%	-$19K+7.6%	-$21K+9.0%	-$23K+8.6%	-$25K-34.3%	-$19K-143.2%	$44K
Financing Cash Flow	-$225K+20.4%	-$283K+0.6%	-$284K-106.9%	-$137K+45.0%	-$250K0.0%	-$250K0.0%	-$250K-1.2%	-$247K
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	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	9.7%-14.2pp	23.9%+21.0pp	3.0%-9.6pp	12.6%-7.5pp	20.1%-2.3pp	22.3%
Net Margin	-0.0%-10.2pp	10.2%+19.3pp	-9.1%-12.8pp	3.7%+50.3pp	-46.7%-43.4pp	-3.2%
Return on Equity	-0.1%-66.8pp	66.6%+251.7pp	-185.0%-202.6pp	17.6%+245.9pp	-228.3%-223.5pp	-4.8%
Return on Assets	-0.0%-7.9pp	7.9%+15.1pp	-7.2%-9.8pp	2.6%+31.9pp	-29.2%-27.2pp	-2.0%
Current Ratio	0.90-0.2	1.06+0.2	0.87-1.4	2.27-0.3	2.60+1.1	1.48
Debt-to-Equity	1.98-0.4	2.36-22.5	24.83+19.1	5.69-1.1	6.81+5.4	1.44
FCF Margin	N/A	10.8%+14.1pp	-3.3%-3.8pp	0.5%+4.0pp	-3.5%-14.0pp	10.4%

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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%-8.9pp	10.7%-3.6pp	14.3%+2.5pp	11.8%-7.9pp	19.7%
Net Margin	15.4%+6.4pp	9.1%+5.6pp	3.5%+8.0pp	-4.5%-9.5pp	5.0%+3.5pp	1.5%+3.8pp	-2.4%-5.5pp	3.2%
Return on Equity	18.9%+5.3pp	13.6%+8.0pp	5.5%+13.1pp	-7.5%-15.7pp	8.2%+5.5pp	2.6%+6.7pp	-4.1%-9.2pp	5.1%
Return on Assets	4.0%+1.7pp	2.3%+1.5pp	0.8%+1.8pp	-1.0%-2.1pp	1.1%+0.8pp	0.3%+0.8pp	-0.5%-1.1pp	0.6%
Current Ratio	0.40-0.6	0.96+0.1	0.890.0	0.90+0.6	0.320.0	0.33-0.0	0.36-0.7	1.06
Debt-to-Equity	3.75-1.2	4.93-1.0	5.91+3.9	1.98-4.1	6.10-0.9	7.01-0.5	7.54+5.2	2.36
FCF Margin	7.4%-1.2pp	8.7%+5.0pp	3.7%	N/A	0.0%+2.9pp	-2.9%-17.7pp	14.8%+0.7pp	14.1%

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 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 return on equity (ROE)?

Noble Romans (NROM) has a return on equity of -0.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

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 -0.40, 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 34 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.