What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's earnings per share (EPS)?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) reported diluted earnings per share of $2.00 for fiscal year 2025. This represents a 36.1% 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.

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) Financials

NGVC

Trailing 12 months to June 30, 2026

Revenue $1.3B +2.0% YoY

Net Income $47.6M +9.1% YoY

EPS (Diluted) $2.06 +9.6% YoY

Free Cash Flow $22.7M -34.2% YoY

Market Cap $702.4M as of Oct 2, 2026

Price / Sales 0.5x on $1.3B revenue, trailing 12 months to June 30, 2026

Price / Earnings 14.7x on $47.6M net income, trailing 12 months to June 30, 2026

Price / Book 2.9x on $239.4M equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE September

Newest figures come from the 10-Q for Q3 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NGVC SEC filings page.

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) reported $1.3B in revenue over the twelve months to Jun 30, 2026, up 2.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI NGVC FY2025 2026-08-29

Margin expansion is becoming the dominant earnings mechanic, while cash conversion remains less consistent than reported profit growth.

FY2025 paired net income of $46.4M with operating cash flow of $55.3M, making the accounting improvement less cash-rich than headline earnings suggest. Even with lower capital spending, free cash flow declined to $24.1M, so the deterioration came primarily through operating cash generation rather than heavier reinvestment.

Gross margin rose from 27.7% in FY2021 to 29.9% in FY2025, while operating margin reached 4.7% versus 2.7% in FY2021. More gross profit reached operating income, indicating that expense growth did not absorb the full benefit of the expanded gross profit pool.

The balance sheet became less debt-dependent: debt-to-equity moved from 0.2x in FY2021 to 0.0x in FY2025. Total liabilities also fell from $512M to $458M, leaving the business with a progressively lighter financing burden even as its operating scale increased.

Financial Health Signals

Financial Health Score 55/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of NATURAL GROCERS BY VITAMIN COTTAGE, INC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

NATURAL GROCERS BY VITAMIN COTTAGE, INC has an operating margin of 4.7%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 55/100, indicating healthy but not exceptional operating efficiency. This is up from 3.8% the prior year.

Growth

NATURAL GROCERS BY VITAMIN COTTAGE, INC's revenue grew 7.2% year-over-year to $1.3B, a solid pace of expansion. This earns a growth score of 60/100.

Leverage

NATURAL GROCERS BY VITAMIN COTTAGE, INC carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

NATURAL GROCERS BY VITAMIN COTTAGE, INC's current ratio of 1.06 is below the typical benchmark, resulting in a score of 21/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

NATURAL GROCERS BY VITAMIN COTTAGE, INC has a free cash flow margin of 1.8%, earning a moderate score of 34/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

NATURAL GROCERS BY VITAMIN COTTAGE, INC earns a strong 21.9% return on equity (ROE), meaning it generates $22 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 68/100. This is up from 19.5% the prior year.

Altman Z-Score Safe

3.54

NATURAL GROCERS BY VITAMIN COTTAGE, INC scores 3.54, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

7/9

NATURAL GROCERS BY VITAMIN COTTAGE, INC passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.19x

For every $1 of reported earnings, NATURAL GROCERS BY VITAMIN COTTAGE, INC generates $1.19 in operating cash flow ($55.3M OCF vs $46.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

20.24x

NATURAL GROCERS BY VITAMIN COTTAGE, INC earns $20.24 in operating income for every $1 of interest expense ($62.0M vs $3.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$334.7M

YoY+1.8%

QoQ-0.8%

5Y CAGR+5.3%

10Y CAGR+6.4%

NATURAL GROCERS BY VITAMIN COTTAGE, INC generated $334.7M in revenue in Q3 2026. This represents an increase of 1.8% from the same quarter a year earlier. Against the prior quarter it is down 0.8%.

EBITDA

$23.3M

YoY-0.9%

QoQ-11.2%

5Y CAGR+10.0%

10Y CAGR+8.4%

NATURAL GROCERS BY VITAMIN COTTAGE, INC's EBITDA was $23.3M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.9% from the same quarter a year earlier. Against the prior quarter it is down 11.2%.

Net Income

$11.1M

YoY-4.6%

QoQ-17.6%

5Y CAGR+17.1%

10Y CAGR+15.2%

NATURAL GROCERS BY VITAMIN COTTAGE, INC reported $11.1M in net income in Q3 2026. This represents a decrease of 4.6% from the same quarter a year earlier. Against the prior quarter it is down 17.6%.

EPS (Diluted)

$0.48

YoY-4.0%

QoQ-17.2%

5Y CAGR+16.9%

10Y CAGR+14.9%

NATURAL GROCERS BY VITAMIN COTTAGE, INC earned $0.48 per diluted share (EPS) in Q3 2026. This represents a decrease of 4.0% from the same quarter a year earlier. Against the prior quarter it is down 17.2%.

Cash & Balance Sheet

Free Cash Flow

$1.3M

YoY+130.1%

QoQ-46.8%

5Y CAGR-28.9%

NATURAL GROCERS BY VITAMIN COTTAGE, INC generated $1.3M in free cash flow in Q3 2026, representing cash available after capex. This represents an increase of 130.1% from the same quarter a year earlier. Against the prior quarter it is down 46.8%.

Cash & Debt

$17.5M

YoY+32.5%

QoQ-15.7%

5Y CAGR+3.8%

10Y CAGR+20.5%

NATURAL GROCERS BY VITAMIN COTTAGE, INC held $17.5M in cash against $1.4M in long-term debt as of Q3 2026, with $158.2M of liabilities due within a year.

Shares Outstanding

23M

YoY+0.4%

QoQ0.0%

5Y CAGR+0.4%

10Y CAGR+0.2%

NATURAL GROCERS BY VITAMIN COTTAGE, INC had 23M shares outstanding in Q3 2026. This represents an increase of 0.4% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q3 2026.

Margins & Returns

Gross Margin

29.3%

YoY-0.6pp

QoQ-1.1pp

5Y change+1.6pp

10Y change+0.9pp

NATURAL GROCERS BY VITAMIN COTTAGE, INC's gross margin was 29.3% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.1 percentage points.

Operating Margin

4.5%

YoY-0.3pp

QoQ-0.9pp

5Y change+1.7pp

10Y change+2.2pp

NATURAL GROCERS BY VITAMIN COTTAGE, INC's operating margin was 4.5% in Q3 2026, reflecting core business profitability. This is down 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.

Net Margin

3.3%

YoY-0.2pp

QoQ-0.7pp

5Y change+1.4pp

10Y change+1.8pp

NATURAL GROCERS BY VITAMIN COTTAGE, INC's net profit margin was 3.3% in Q3 2026, showing the share of revenue converted to profit. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.

Return on Equity

4.6%

YoY-1.1pp

QoQ-1.2pp

5Y change+1.0pp

10Y change+2.5pp

NATURAL GROCERS BY VITAMIN COTTAGE, INC's ROE was 4.6% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is down 1.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.2 percentage points.

Capital Allocation

Capital Expenditures

$10.0M

YoY+41.3%

QoQ-50.8%

5Y CAGR+7.9%

10Y CAGR-4.4%

NATURAL GROCERS BY VITAMIN COTTAGE, INC invested $10.0M in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 41.3% from the same quarter a year earlier. Against the prior quarter it is down 50.8%.

R&D Spending

Not reported for Q3 2026.

Share Buybacks

Not reported for Q3 2026.

NGVC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NGVC quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.3B	$1.3B+7.2%	$1.2B+8.9%	$1.1B+4.7%	$1.1B+3.2%	$1.1B+1.8%	$1.0B+14.7%	$903.6M+6.4%	$849.0M+10.4%	$769.0M+9.0%	$705.5M+12.9%	$624.7M+20.0%	$520.7M+20.9%	$430.7M+28.0%	$336.4M+27.2%	$264.5M
Gross Profit	$398.3M	$397.9M+9.1%	$364.8M+11.6%	$326.9M+7.2%	$304.9M+4.3%	$292.2M+3.2%	$283.1M+18.6%	$238.8M+5.8%	$225.6M+6.2%	$212.3M+5.2%	$201.8M+10.8%	$182.1M+20.2%	$151.5M+20.5%	$125.7M+26.9%	$99.1M+28.0%	$77.4M
SG&A Expenses	$43.3M	$44.4M+14.6%	$38.7M+7.6%	$36.0M+14.0%	$31.6M+11.3%	$28.4M+5.9%	$26.8M+17.3%	$22.8M+6.2%	$21.5M+7.1%	$20.1M+4.4%	$19.2M+9.9%	$17.5M+18.2%	$14.8M+10.0%	$13.5M+5.9%	$12.7M+22.5%	$10.4M
Operating Income	$63.3M	$62.0M+32.0%	$47.0M+48.3%	$31.7M+5.0%	$30.2M+6.5%	$28.3M+2.1%	$27.7M+65.5%	$16.8M+11.4%	$15.1M+6.8%	$14.1M-30.8%	$20.4M-28.8%	$28.6M+18.1%	$24.2M+27.0%	$19.1M+59.1%	$12.0M+61.8%	$7.4M
EBITDA	N/A	$93.8M+20.4%	$77.9M+28.6%	$60.6M+4.3%	$58.1M+0.2%	$58.0M-1.7%	$58.9M+28.9%	$45.7M+2.8%	$44.5M+2.0%	$43.6M-5.0%	$45.9M-8.1%	$50.0M+20.5%	$41.5M+27.2%	$32.6M+48.5%	$21.9M+45.3%	$15.1M
Interest Expense	$2.7M	$3.1M-26.7%	$4.2M+26.6%	$3.3M+39.1%	$2.4M+4.4%	$2.3M+10.9%	$2.0M-58.6%	$5.0M+8.6%	$4.6M+20.2%	$3.8M+24.6%	$3.0M+1.7%	$3.0M+19.9%	$2.5M+15.2%	$2.2M+281.3%	$568K-15.1%	$669K
Income Tax	$12.9M	$12.5M+40.8%	$8.9M+72.9%	$5.1M-20.1%	$6.4M+17.2%	$5.5M-3.8%	$5.7M+137.4%	$2.4M+210.6%	-$2.2M-163.5%	$3.4M-41.8%	$5.9M-37.8%	$9.4M+13.9%	$8.3M+29.8%	$6.4M+61.3%	$4.0M+82.5%	$2.2M
Net Income	$47.6M	$46.4M+36.9%	$33.9M+46.0%	$23.2M+8.8%	$21.4M+3.8%	$20.6M+2.9%	$20.0M+112.5%	$9.4M-25.6%	$12.7M+83.7%	$6.9M-39.9%	$11.5M-29.2%	$16.2M+20.3%	$13.5M+27.7%	$10.6M+41.1%	$7.5M+62.2%	$4.6M
EPS (Basic)	N/A	$2.02+35.6%	$1.49+46.1%	$1.02+8.5%	$0.94+3.3%	$0.91+2.2%	$0.89+111.9%	$0.42-26.3%	$0.57+83.9%	$0.31-39.2%	$0.51-29.2%	$0.72+20.0%	$0.60+27.7%	$0.47+56.7%	$0.30+87.5%	$0.16
EPS (Diluted)	$2.06	$2.00+36.1%	$1.47+44.1%	$1.02+8.5%	$0.94+3.3%	$0.91+2.2%	$0.89+111.9%	$0.42-25.0%	$0.56+80.6%	$0.31-39.2%	$0.51-29.2%	$0.72+20.0%	$0.60+27.7%	$0.47+56.7%	$0.30+87.5%	$0.16
Diluted Shares (Avg)	N/A	23M+0.7%	23M+1.1%	23M+0.1%	23M+0.5%	23M+0.6%	23M+0.1%	23M+0.6%	22M-0.2%	22M-0.2%	23M0.0%	23M+0.1%	22M+0.2%	22M-0.1%	22M0.0%	22M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Revenue	$334.7M+1.8%	$337.4M+0.5%	$335.6M+1.6%	$336.1M+4.2%	$328.7M+6.3%	$335.8M+9.0%	$330.2M+9.4%	$322.7M+9.3%
Gross Profit	$98.0M-0.3%	$102.4M+0.7%	$98.9M0.0%	$99.0M+3.8%	$98.3M+8.8%	$101.7M+12.6%	$98.8M+11.3%	$95.4M+13.1%
SG&A Expenses	$9.5M-13.2%	$12.1M+10.0%	$10.8M-5.9%	$10.9M+6.1%	$10.9M+14.7%	$11.0M+15.8%	$11.5M+22.4%	$10.2M+4.4%
Operating Income	$15.0M-3.8%	$18.1M+3.1%	$14.6M+9.7%	$15.5M+28.5%	$15.6M+21.3%	$17.6M+55.9%	$13.3M+23.6%	$12.1M+56.0%
EBITDA	$23.3M-0.9%	$26.3M+3.2%	$22.6M+6.2%	$23.5M+17.6%	$23.5M+13.8%	$25.4M+34.2%	$21.3M+16.7%	$20.0M+31.4%
Interest Expense	$663K-4.5%	$632K-15.7%	$713K-22.8%	$696K-33.9%	$694K-34.0%	$750K-36.3%	$923K+3.2%	$1.1M+28.3%
Income Tax	$3.3M-0.9%	$4.0M+9.1%	$2.6M+4.5%	$3.0M+50.1%	$3.3M+27.1%	$3.7M+74.4%	$2.5M+15.5%	$2.0M+93.3%
Net Income	$11.1M-4.6%	$13.4M+2.5%	$11.3M+14.0%	$11.8M+31.0%	$11.6M+26.0%	$13.1M+64.6%	$9.9M+28.1%	$9.0M+53.2%
EPS (Basic)	$0.48-5.9%	$0.58+1.8%	$0.49+14.0%	$0.51+27.5%	$0.51+27.5%	$0.57+62.9%	$0.43+26.5%	$0.40+53.8%
EPS (Diluted)	$0.48-4.0%	$0.58+3.6%	$0.49+14.0%	$0.51+30.8%	$0.50+25.0%	$0.56+60.0%	$0.43+26.5%	$0.39+50.0%
Diluted Shares (Avg)	23M-0.2%	23M-0.3%	23M+0.4%	N/A	23M+0.9%	23M+0.9%	23M+0.8%	N/A

Not reported in any period shown, so not listed: Cost of Revenue, R&D Expenses.

NGVC Balance Sheet

NGVC quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$670.5M+2.3%	$655.5M-2.0%	$669.2M+0.9%	$663.1M+1.2%	$655.1M-3.9%	$681.8M+108.4%	$327.1M+6.5%	$307.1M+2.4%	$300.0M+6.3%	$282.2M+20.7%	$233.9M+23.8%	$189.0M+18.2%	$159.9M+27.2%	$125.7M	N/A
Current Assets	$168.1M+14.3%	$147.1M-3.6%	$152.6M+8.5%	$140.7M+3.7%	$135.6M-5.4%	$143.4M+24.5%	$115.2M+3.8%	$111.0M+2.5%	$108.2M+11.2%	$97.3M+18.3%	$82.3M+22.6%	$67.1M+12.1%	$59.9M+1.6%	$58.9M	N/A
Cash & Equivalents	$17.1M+92.9%	$8.9M-51.6%	$18.3M+52.4%	$12.0M-49.2%	$23.7M-17.0%	$28.5M+359.2%	$6.2M-33.9%	$9.4M+44.1%	$6.5M+62.3%	$4.0M+37.8%	$2.9M-43.0%	$5.1M-37.1%	$8.1M-53.0%	$17.3M+4474.3%	$378K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$1.1M+47.7%	$778K	$0
Accounts Receivable	$12.0M-5.1%	$12.6M+16.8%	$10.8M+2.9%	$10.5M+23.6%	$8.5M-0.4%	$8.5M+68.4%	$5.1M+6.8%	$4.7M-2.5%	$4.9M+29.7%	$3.7M+45.5%	$2.6M+20.0%	$2.1M-10.6%	$2.4M+29.4%	$1.9M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$974K	$0
Goodwill	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M+917.2%	$511K0.0%	$511K0.0%	$511K	N/A
Total Liabilities	$458.1M-4.8%	$481.2M-3.4%	$498.3M-1.8%	$507.3M-1.0%	$512.3M+0.7%	$508.7M+198.9%	$170.2M+6.1%	$160.4M-3.5%	$166.1M+6.8%	$155.5M+31.3%	$118.4M+31.4%	$90.1M+19.6%	$75.4M+43.0%	$52.7M	N/A
Current Liabilities	$158.8M-3.3%	$164.1M+6.6%	$154.0M+11.8%	$137.7M+3.0%	$133.8M+3.6%	$129.2M+55.1%	$83.3M+4.5%	$79.7M+11.4%	$71.6M+7.5%	$66.5M-4.8%	$69.9M+40.1%	$49.9M+29.9%	$38.4M+12.6%	$34.1M	N/A
Non-Current Liabilities	$299.3M-5.6%	$317.1M-7.9%	$344.3M-6.8%	$369.6M-2.4%	$378.6M-0.3%	$379.6M+336.6%	$86.9M+7.8%	$80.7M-14.7%	$94.5M+6.3%	$89.0M+83.2%	$48.6M+20.7%	$40.2M+8.9%	$37.0M+98.5%	$18.6M	N/A
Long-Term Debt	$0	$0-100.0%	$5.9M-57.4%	$13.9M-36.5%	$21.9M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$4.2M	N/A
Total Equity	$212.4M+21.9%	$174.3M+2.0%	$170.8M+9.6%	$155.8M+9.2%	$142.7M-17.5%	$173.1M+10.3%	$156.9M+6.9%	$146.7M+9.6%	$133.9M+5.6%	$126.7M+9.7%	$115.5M+16.8%	$98.9M+16.9%	$84.5M+15.9%	$72.9M+358.0%	$15.9M
Retained Earnings	$149.3M+31.1%	$113.9M+1.8%	$111.9M+14.5%	$97.7M+14.4%	$85.4M-26.5%	$116.3M+15.2%	$100.9M+10.3%	$91.5M+16.1%	$78.8M+9.6%	$72.0M+19.0%	$60.5M+36.6%	$44.3M+43.7%	$30.8M+52.1%	$20.3M	N/A

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Total Assets	$687.7M+4.4%	$684.7M+3.0%	$668.6M+3.0%	$670.5M+2.3%	$659.0M+0.7%	$664.6M+1.2%	$648.9M-2.2%	$655.5M-2.0%
Current Assets	$174.1M+10.9%	$170.6M+4.5%	$166.8M+15.4%	$168.1M+14.3%	$157.0M+8.1%	$163.2M+15.9%	$144.5M+0.9%	$147.1M-3.6%
Cash & Equivalents	$17.5M+32.5%	$20.7M-2.3%	$23.2M+267.5%	$17.1M+92.9%	$13.2M-5.3%	$21.2M+93.3%	$6.3M-53.6%	$8.9M-51.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$10.6M-17.1%	$13.1M+5.2%	$9.9M-16.4%	$12.0M-5.1%	$12.8M+43.6%	$12.4M+42.4%	$11.9M+27.6%	$12.6M+16.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%
Total Liabilities	$448.3M-1.8%	$453.8M-3.8%	$448.5M-4.0%	$458.1M-4.8%	$456.5M-6.2%	$471.6M-5.0%	$467.0M-8.3%	$481.2M-3.4%
Current Liabilities	$158.2M+2.4%	$162.5M-3.1%	$156.4M+4.2%	$158.8M-3.3%	$154.5M+2.0%	$167.7M+4.9%	$150.1M-5.5%	$164.1M+6.6%
Non-Current Liabilities	$290.0M-4.0%	$291.3M-4.1%	$292.2M-7.8%	$299.3M-5.6%	$302.0M-9.9%	$303.9M-9.7%	$316.9M-9.6%	$317.1M-7.9%
Long-Term Debt	$1.4M	$1.5M	N/A	$0	N/A	N/A	$8.9M	$0-100.0%
Total Equity	$239.4M+18.2%	$230.9M+19.7%	$220.0M+21.0%	$212.4M+21.9%	$202.5M+20.7%	$193.0M+20.6%	$181.9M+18.2%	$174.3M+2.0%
Retained Earnings	$174.8M+24.6%	$167.2M+27.2%	$157.2M+29.8%	$149.3M+31.1%	$140.3M+30.9%	$131.4M+31.1%	$121.1M+28.1%	$113.9M+1.8%

Not reported in any period shown, so not listed: Inventory.

NGVC Cash Flow Statement

NGVC quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$70.7M	$55.3M-25.0%	$73.8M+14.2%	$64.6M+62.8%	$39.7M-26.3%	$53.9M-19.0%	$66.5M+77.9%	$37.4M-12.8%	$42.9M+4.9%	$40.8M+41.7%	$28.8M-29.7%	$41.0M+29.1%	$31.7M+23.5%	$25.7M+2.0%	$25.2M+50.5%	$16.7M
Depreciation & Amortization	N/A	$31.8M+2.9%	$30.9M+7.0%	$28.9M+3.6%	$27.9M-5.8%	$29.6M-5.0%	$31.2M+7.6%	$29.0M-1.5%	$29.4M-0.3%	$29.5M+15.6%	$25.5M+19.7%	$21.3M+24.0%	$17.2M+27.5%	$13.5M+35.7%	$9.9M+29.4%	$7.7M
Stock-Based Compensation	N/A	$4.0M+40.0%	$2.8M+108.0%	$1.4M+14.7%	$1.2M+35.2%	$877K-22.3%	$1.1M-4.7%	$1.2M+46.3%	$810K+6.9%	$758K-13.8%	$879K+53.4%	$573K+7.7%	$532K-11.6%	$602K-22.8%	$780K	$0
Capital Expenditures	$48.0M	$31.2M-16.9%	$37.5M+2.7%	$36.6M+30.4%	$28.0M+6.4%	$26.4M-1.5%	$26.8M-10.9%	$30.0M+26.8%	$23.7M-42.4%	$41.1M-23.5%	$53.8M+46.3%	$36.8M+0.7%	$36.5M-8.0%	$39.7M+57.2%	$25.3M+23.5%	$20.4M
Free Cash Flow	$22.7M	$24.1M-33.5%	$36.2M+29.2%	$28.0M+140.6%	$11.7M-57.7%	$27.5M-30.7%	$39.8M+440.7%	$7.4M-61.7%	$19.2M+6712.4%	-$290K+98.8%	-$24.9M-686.2%	$4.3M+189.3%	-$4.8M+66.0%	-$14.0M-24445.6%	-$57K+98.5%	-$3.7M
Investing Cash Flow	-$48.4M	-$31.0M+19.8%	-$38.6M-1.7%	-$38.0M-21.9%	-$31.1M-12.2%	-$27.8M+6.1%	-$29.6M+7.2%	-$31.9M-35.3%	-$23.5M+38.8%	-$38.5M+28.4%	-$53.7M-26.9%	-$42.3M	N/A	N/A	N/A	N/A
Financing Cash Flow	-$18.1M	-$16.1M+64.0%	-$44.6M-119.3%	-$20.4M-0.8%	-$20.2M+34.8%	-$31.0M-111.8%	-$14.6M-68.1%	-$8.7M+47.1%	-$16.4M-10777.3%	$154K-99.4%	$26.0M+3114.5%	-$863K	N/A	N/A	N/A	N/A
Dividends Paid	$13.1M	$11.0M-65.5%	$31.9M+250.6%	$9.1M+0.2%	$9.1M-82.4%	$51.5M+716.6%	$6.3M	$0	$0	$0	$0	$0	$0	$0	$0	N/A
Share Buybacks	N/A	$0	$0-100.0%	$181K	$0	$0	$0	$0-100.0%	$581K+122.6%	$261K-68.5%	$829K	N/A	N/A	N/A	N/A	N/A

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Operating Cash Flow	$11.3M+283.8%	$22.7M-33.3%	$21.1M+688.0%	$15.6M-36.2%	$2.9M-76.4%	$34.1M+68.4%	$2.7M-83.9%	$24.5M-13.9%
Depreciation & Amortization	$8.3M+4.8%	$8.2M+3.3%	$8.0M+0.3%	$8.0M+1.1%	$8.0M+1.4%	$7.9M+2.4%	$8.0M+6.7%	$7.9M+6.0%
Stock-Based Compensation	N/A	N/A	$857K-40.3%	N/A	N/A	N/A	$1.4M+253.4%	N/A
Capital Expenditures	$10.0M+41.3%	$20.4M+217.0%	$9.6M-0.5%	$8.1M+23.8%	$7.1M-19.8%	$6.4M-38.5%	$9.6M-18.0%	$6.5M-51.0%
Free Cash Flow	$1.3M+130.1%	$2.3M-91.5%	$11.6M+266.7%	$7.5M-58.0%	-$4.2M-215.3%	$27.6M+182.8%	-$6.9M-241.8%	$18.0M+18.8%
Investing Cash Flow	-$10.0M-41.6%	-$20.8M-221.3%	-$9.6M-1.7%	-$8.0M-18.2%	-$7.1M+24.0%	-$6.5M+39.6%	-$9.4M+20.2%	-$6.8M+50.2%
Financing Cash Flow	-$4.5M-15.7%	-$4.4M+65.2%	-$5.5M-230.6%	-$3.7M+83.9%	-$3.9M-1953.7%	-$12.7M-4.4%	$4.2M+143.8%	-$22.7M-352.0%
Dividends Paid	$3.5M+25.4%	$3.5M+25.6%	$3.5M+25.7%	$2.8M+20.7%	$2.8M+20.9%	$2.8M+20.8%	$2.7M-89.0%	$2.3M+0.4%
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0

NGVC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NGVC quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	29.9%+0.5pp	29.4%+0.7pp	28.7%+0.7pp	28.0%+0.3pp	27.7%+0.4pp	27.3%+0.9pp	26.4%-0.2pp	26.6%-1.0pp	27.6%-1.0pp	28.6%-0.6pp	29.1%+0.1pp	29.1%-0.1pp	29.2%-0.3pp	29.4%+0.2pp	29.3%
Operating Margin	4.7%+0.9pp	3.8%+1.0pp	2.8%0.0pp	2.8%+0.1pp	2.7%0.0pp	2.7%+0.8pp	1.9%+0.1pp	1.8%-0.1pp	1.8%-1.1pp	2.9%-1.7pp	4.6%-0.1pp	4.7%+0.2pp	4.4%+0.9pp	3.6%+0.8pp	2.8%
Net Margin	3.5%+0.8pp	2.7%+0.7pp	2.0%+0.1pp	2.0%0.0pp	1.9%0.0pp	1.9%+0.9pp	1.0%-0.5pp	1.5%+0.6pp	0.9%-0.7pp	1.6%-1.0pp	2.6%0.0pp	2.6%+0.1pp	2.5%+0.2pp	2.2%+0.5pp	1.7%
Return on Equity	21.9%+2.4pp	19.5%+5.9pp	13.6%-0.1pp	13.7%-0.7pp	14.4%+2.9pp	11.6%+5.6pp	6.0%-2.6pp	8.6%+3.5pp	5.1%-3.9pp	9.0%-5.0pp	14.0%+0.4pp	13.6%+1.2pp	12.5%+2.2pp	10.3%-18.7pp	28.9%
Return on Assets	6.9%+1.8pp	5.2%+1.7pp	3.5%+0.3pp	3.2%+0.1pp	3.1%+0.2pp	2.9%+0.1pp	2.9%-1.2pp	4.1%+1.8pp	2.3%-1.8pp	4.1%-2.9pp	6.9%-0.2pp	7.1%+0.5pp	6.6%+0.7pp	5.9%	N/A
Current Ratio	1.06+0.2x	0.90-0.1x	0.990.0x	1.020.0x	1.01-0.1x	1.11-0.3x	1.380.0x	1.39-0.1x	1.510.0x	1.46+0.3x	1.18-0.2x	1.35-0.2x	1.56-0.2x	1.73	N/A
Debt-to-Equity	0.000.0x	0.000.0x	0.03-0.1x	0.09-0.1x	0.15+0.2x	0.00-1.1x	1.080.0x	1.09-0.1x	1.240.0x	1.23+0.2x	1.03+0.1x	0.910.0x	0.89+0.8x	0.06	N/A
Asset Turnover	1.98+0.1x	1.89+0.2x	1.70+0.1x	1.640.0x	1.61+0.1x	1.52-1.2x	2.760.0x	2.76+0.2x	2.56+0.1x	2.50-0.2x	2.67-0.1x	2.76+0.1x	2.690.0x	2.68	N/A
FCF Margin	1.8%-1.1pp	2.9%+0.5pp	2.5%+1.4pp	1.1%-1.5pp	2.6%-1.2pp	3.8%+3.0pp	0.8%-1.4pp	2.3%+2.3pp	0.0%+3.5pp	-3.5%-4.2pp	0.7%+1.6pp	-0.9%+2.3pp	-3.3%-3.2pp	0.0%+1.4pp	-1.4%

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Gross Margin	29.3%-0.6pp	30.4%+0.1pp	29.5%-0.5pp	29.5%-0.1pp	29.9%+0.7pp	30.3%+1.0pp	29.9%+0.5pp	29.5%+1.0pp
Operating Margin	4.5%-0.3pp	5.4%+0.1pp	4.4%+0.3pp	4.6%+0.9pp	4.7%+0.6pp	5.2%+1.6pp	4.0%+0.5pp	3.7%+1.1pp
Net Margin	3.3%-0.2pp	4.0%+0.1pp	3.4%+0.4pp	3.5%+0.7pp	3.5%+0.5pp	3.9%+1.3pp	3.0%+0.4pp	2.8%+0.8pp
Return on Equity	4.6%-1.1pp	5.8%-1.0pp	5.1%-0.3pp	5.6%+0.4pp	5.7%+0.2pp	6.8%+1.8pp	5.5%+0.4pp	5.2%+1.7pp
Return on Assets	1.6%-0.2pp	2.0%0.0pp	1.7%+0.2pp	1.8%+0.4pp	1.8%+0.4pp	2.0%+0.8pp	1.5%+0.4pp	1.4%+0.5pp
Current Ratio	1.10+0.1x	1.05+0.1x	1.07+0.1x	1.06+0.2x	1.02+0.1x	0.97+0.1x	0.96+0.1x	0.90-0.1x
Debt-to-Equity	0.01-2.2x	0.01-2.4x	2.04+2.0x	0.000.0x	2.25+2.3x	2.44+2.4x	0.050.0x	0.000.0x
Asset Turnover	0.490.0x	0.490.0x	0.500.0x	0.500.0x	0.500.0x	0.510.0x	0.51+0.1x	0.49+0.1x
FCF Margin	0.4%+1.6pp	0.7%-7.5pp	3.5%+5.6pp	2.3%-3.3pp	-1.3%-2.4pp	8.2%+5.1pp	-2.1%-3.7pp	5.6%+0.4pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

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Where NATURAL GROCERS BY VITAMIN COTTAGE, INC Ranks

Frequently Asked Questions

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's annual revenue?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) reported $1.3B in total revenue for fiscal year 2025. This represents a 7.2% 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 NATURAL GROCERS BY VITAMIN COTTAGE, INC's revenue growing?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) revenue grew by 7.2% year-over-year, from $1.2B to $1.3B in fiscal year 2025.

Is NATURAL GROCERS BY VITAMIN COTTAGE, INC profitable?

Yes, NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) reported a net income of $46.4M in fiscal year 2025, with a net profit margin of 3.5%.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's EBITDA?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had EBITDA of $93.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does NATURAL GROCERS BY VITAMIN COTTAGE, INC have?

As of fiscal year 2025, NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had $17.1M in cash and equivalents against $0 in long-term debt.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's gross margin?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had a gross margin of 29.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's operating margin?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had an operating margin of 4.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's net profit margin?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had a net profit margin of 3.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's return on equity (ROE)?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) has a return on equity of 21.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's free cash flow?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) generated $24.1M in free cash flow during fiscal year 2025. This represents a -33.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's operating cash flow?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) generated $55.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are NATURAL GROCERS BY VITAMIN COTTAGE, INC's total assets?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had $670.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are NATURAL GROCERS BY VITAMIN COTTAGE, INC's capital expenditures?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) invested $31.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does NATURAL GROCERS BY VITAMIN COTTAGE, INC have outstanding?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had 23M shares outstanding as of fiscal year 2025.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's current ratio?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had a current ratio of 1.06 as of fiscal year 2025, which is considered adequate.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's debt-to-equity ratio?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's return on assets (ROA)?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) had a return on assets of 6.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's P/E ratio?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) trades at 14.7x earnings, its market capitalization divided by net income of $47.6M net income, trailing 12 months to June 30, 2026. The market capitalization is $702.4M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's price-to-sales ratio?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) trades at 0.5x sales, its market capitalization divided by revenue of $1.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $702.4M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is NATURAL GROCERS BY VITAMIN COTTAGE, INC's Altman Z-Score?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) has an Altman Z-Score of 3.54, placing it in the Safe Zone (low 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 NATURAL GROCERS BY VITAMIN COTTAGE, INC's Piotroski F-Score?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) has a Piotroski F-Score of 7 out of 9, indicating strong 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are NATURAL GROCERS BY VITAMIN COTTAGE, INC's earnings high quality?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) has an earnings quality ratio of 1.19x, considered cash-backed (high 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 NATURAL GROCERS BY VITAMIN COTTAGE, INC cover its interest payments?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) has an interest coverage ratio of 20.24x, meaning it can comfortably 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 NATURAL GROCERS BY VITAMIN COTTAGE, INC?

NATURAL GROCERS BY VITAMIN COTTAGE, INC (NGVC) scores 55 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.