According to Noodles & Company's 2025 Franchise Disclosure Document, the total stockholders' equity (deficit) on December 28, 2021, was $37,633 (in thousands). This figure represents the net worth of Noodles & Company from the perspective of its shareholders at that specific point in time. It is calculated by subtracting total liabilities from total assets, reflecting the residual value attributable to shareholders.

For a prospective franchisee, this number provides insight into the financial health and stability of Noodles & Company. A positive stockholders' equity generally indicates that the company has more assets than liabilities, suggesting a stronger financial position. However, it's essential to consider this figure in conjunction with other financial metrics and industry benchmarks to gain a comprehensive understanding of the company's financial performance.

The provided table also shows changes in equity over time due to factors like stock transactions, stock-based compensation, and net losses. Monitoring these changes can help potential franchisees assess the company's financial trends and how it manages its equity. It is important to note that the amounts are represented in thousands, so the actual values are much larger than the numbers presented in the table.

Ultimately, while a single data point like stockholders' equity offers a snapshot of financial health, prospective Noodles & Company franchisees should conduct thorough due diligence, reviewing the complete financial statements and seeking professional advice to evaluate the overall risk and opportunity associated with investing in a Noodles & Company franchise.