Natural Grocers by Vitamin Cottage, Inc. (New York Stock Exchange:NGVC)
Insiders here have filed 4 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Profitable, but on a thin margin.
- Revenue
- $1.34B
- Net income
- $47.6M
- Net margin
- 3.5%
Heavily indebted for what it earns.
- Total debt
- $321.2M
- Cash
- $17.5M
- Net debt / EBITDA
- 3.17x
Covers near-term obligations, without much room.
- Current assets
- $174.1M
- Current liabilities
- $158.2M
- Current ratio
- 1.10
The business funds itself from operations.
- Operating cash flow
- $105.2M
- Free cash flow
- $57.1M
- FCF margin
- 4.3%
Not funding itself by issuing shares.
- Shares outstanding
- 23.0M
- Share growth (1y)
- 0.4%
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
NGVC Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 334.74 M | 337.38 M | 335.58 M | 336.14 M | 328.70 M | 335.77 M |
| Revenue Growth (YoY) | 1.84 % | 0.48 % | 1.62 % | 4.18 % | 6.35 % | 8.98 % |
| Cost of Revenue | 236.73 M | 242.86 M | 236.72 M | 237.12 M | 230.43 M | 234.02 M |
| Gross Profit | 98.01 M | 94.51 M | 98.86 M | 99.03 M | 98.28 M | 101.75 M |
| SG&A Expense | 9.50 M | 83.70 M | 10.84 M | 7.94 M | 10.95 M | 11.02 M |
| R&D Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 83.01 M | 75.84 M | 84.21 M | 83.52 M | 82.69 M | 84.19 M |
| Operating Income | 15.00 M | 18.67 M | 14.65 M | 15.50 M | 15.59 M | 17.55 M |
| Pretax Income | 14.33 M | 17.47 M | 13.93 M | 14.81 M | 14.89 M | 16.80 M |
| Tax Provision | 3.26 M | 4.04 M | 2.60 M | 3.01 M | 3.29 M | 3.70 M |
| Net Income | 11.07 M | 13.43 M | 11.33 M | 11.80 M | 11.61 M | 13.10 M |
| EPS (Basic) | 0.48 | 0.58 | 0.49 | 0.51 | 0.51 | 0.57 |
| EPS (Diluted) | 0.48 | 0.58 | 0.49 | 0.51 | 0.50 | 0.56 |
| Shares Outstanding | 23.04 M | 23.10 M | 23.01 M | 22.95 M | 22.95 M | 22.94 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.