Zacks Investment Research·Jun 23, 2026
NGVC vs VLGEA: Which Grocery Retailer Stock is the Better Buy?Let's find out which grocery retailer, NGVC or VLGEA, offers the better mix of growth, expansion potential and long-term value for investors.
Natural Grocers by Vitamin Cottage, Inc.(NGVC)Earnings, Financials & Key Ratios
NGVC•NYSE
$33.21
16.6× P/E·Price updated Jul 6, 2026
AboutNatural Grocers by Vitamin Cottage, Inc., together with its subsidiaries, retails natural and organic groceries, and dietary supplements in the United States. The company's stores offer natural and organic grocery products, such as organic produce; bulk food products; private label products comprising pasta, pasta sauce, ketchup, canned beans and vegetables, frozen vegetables, frozen fruits, frozen meals, frozen pizza, bread, baking mixes, plant based butter, olive and coconut oil, coconut milk, honey, maple syrup, preserves, chocolate, coffee, bacon, beef jerky, canned seafood, popcorn, tortilla chips, taco shells, eggs, cheese, apple sauce, apple cider vinegar, spring water, paper products, cleaning products, and other products; dry, frozen, and canned groceries; meat and seafood products; dairy products, dairy substitutes, and eggs; prepared foods; bread and baked products; beverages; and beer, wine, and hard cider products. Its stores also provide private label dietary supplements; body care products consisting of cosmetics, skin care, hair care, fragrance, and personal care products containing natural and organic ingredients; pet care and food products; books and handouts; and household and general merchandise, including cleaning supplies, paper products, and dish and laundry soaps, as well as other common household products, such as diapers. The company operates its retail stores under the Natural Grocers by Vitamin Cottage trademark. As of February 1, 2022, it operated 162 stores in 20 states. The company also offers science-based nutrition education programs to help customers make informed health and nutrition choices. Natural Grocers by Vitamin Cottage, Inc. was founded in 1955 and is headquartered in Lakewood, Colorado.Show more
- Revenue$1.33B+7.2%
- EBITDA$94M+20.4%
- Net Income$46M+36.9%
- EPS (Diluted)2.00+36.1%
- Gross Margin29.9%+1.8%
- EBITDA Margin7.05%+12.3%
- Operating Margin4.66%+23.1%
- Net Margin3.49%+27.7%
- ROE24.02%+22.2%
NGVC Price & Volume
Natural Grocers by Vitamin Cottage, Inc. (NGVC) stock price & volume — 10-year historical chart
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Decelerating Revenue Growth Challenges Operational Margin Stability
Investment Thesis • Updated 2026Q2
VerdictNeutral
Growth:Decelerating
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Regional labor cost inflation
Key Thesis Takeaways
- Natural Grocers demonstrates a disciplined approach to balance sheet management, evidenced by a reduction in the debt-to-equity ratio from 2.48 in 2024Q1 to 1.40 in 2026Q2.
- However, the company faces significant top-line headwinds as revenue growth slowed to 0.5% in 2026Q2, compounded by gross margin compression to 28.0%.
- Investors should monitor whether increased capital expenditure, which reached 6.2% of revenue in 2026Q2, can successfully revitalize growth or if it will continue to pressure free cash flow stability.
Verdict Logic
while the company has effectively reduced its debt-to-equity ratio to 1.40, the significant deceleration in revenue growth to 0.5% and erratic free cash flow margins warrant a cautious wait-and-see approach.
NGVC Growth Metrics
Natural Grocers by Vitamin Cottage, Inc. (NGVC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years7.86%
5 Years5.12%
3 Years6.89%
TTM3.09%
Profit CAGR
10 Years11.1%
5 Years18.34%
3 Years29.54%
TTM16.76%
EPS CAGR
10 Years10.76%
5 Years17.58%
3 Years28.62%
TTM16.85%
Return on Capital
10 Years7.66%
5 Years7.76%
3 Years9.26%
Last Year12.36%
NGVC Recent Earnings
Natural Grocers by Vitamin Cottage, Inc. (NGVC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 6/12 qtrs (55%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.58+3.6%
$0.56
Rev
$337M-3.1%
$348M
Q1 2026
Feb 5, 2026Metric
Actual
Est
EPS
$0.49+6.5%
$0.46
Rev
$336M+0.0%
$336M
Q4 2025
Nov 20, 2025Metric
Actual
Est
EPS
$0.51+10.9%
$0.46
Rev
$336M-3.4%
$348M
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.50+2.0%
$0.49
Rev
$329M-1.9%
$335M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.58vs $0.56+3.6% | $337Mvs $348M-3.1% |
| Q1 2026 | Feb 5, 2026 | $0.49vs $0.46+6.5% | $336Mvs $336M+0.0% |
| Q4 2025 | Nov 20, 2025 | $0.51vs $0.46+10.9% | $336Mvs $348M-3.4% |
| Q3 2025 | Aug 7, 2025 | $0.50vs $0.49+2.0% | $329Mvs $335M-1.9% |
Based on last 12 quarters of dataView full earnings history →
Latest NGVC News
Recent stock market news and headlines for Natural Grocers by Vitamin Cottage, Inc. (NGVC)
PRNewsWire·Jun 23, 2026
Celebrate America's 250th Birthday with Even More Affordable(SM) Fourth of July Deals from Natural Grocers®Save up to 43% on summer favorites to fuel your Independence Day festivities, June 26 through July 3, 2026 LAKEWOOD, Colo., June 23, 2026 /PRNewswire/ -- As Americans prepare to celebrate 250 years of independence, Natural Grocers®, the nation's largest family-operated natural and organic grocery retailer, is helping customers gather, grill and save with its Even More AffordableSM Fourth of July Deals.
PRNewsWire·Jun 17, 2026
Natural Grocers® Opens Its Doors in McMinnville, Oregon, With a Grand Opening Celebration on July 1, 2026Customers will enjoy unbeatable savings, exciting giveaways, sweepstakes, samples and more LAKEWOOD, Colo., June 17, 2026 /PRNewswire/ -- Natural Grocers®, the leading family-operated organic and natural grocery retailer in the U.S., announces the opening of a new store in McMinnville, Oregon, on Wednesday, July 1, 2026.
PRNewsWire·Jun 15, 2026
Natural Grocers® Celebrates Father's Day with Limited-Time Deals and Summer Savings, June 19-21, 2026Customers can enjoy special offers, giveaways, and craveable recipes for Father's Day weekend LAKEWOOD, Colo., June 15, 2026 /PRNewswire/ -- Natural Grocers®, the largest family-operated organic and natural grocery retailer in the U.S., invites customers to celebrate Father's Day weekend with thoughtful finds and feel-good essentials for every kind of Dad.
Peers Comparison
Key metrics vs top competitors for Natural Grocers by Vitamin Cottage, Inc. (NGVC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $33.21 | $765.18M | 16.61 | 7.19% | 3.49% | 24.02% | 1.43% | |
| $86.57 | $8.14B | 16.30 | 14.08% | 5.7% | 36.06% | — | |
| $0.57 | $51.35M | -0.10 | -10.17% | -35.47% | -140.7% | — | |
| $58.25 | $35.91B | 37.82 | 0.35% | 0.71% | 14.66% | — | |
| $14.18 | $7.01B | 35.45 | 3.46% | 0.26% | 8.17% | — | |
| $110.65 | $881.99B | 40.53 | 4.73% | 3.18% | 22.7% | — |
Compare NGVC vs Peers
Natural Grocers by Vitamin Cottage, Inc. (NGVC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NGVC SEC Filings & Documents
Natural Grocers by Vitamin Cottage, Inc. (NGVC) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 7, 2026·SEC
Material company update
Mar 10, 2026·SEC
Material company update
Feb 5, 2026·SEC
10-K Annual Reports
410-Q Quarterly Reports
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NGVC Frequently Asked Questions
Natural Grocers by Vitamin Cottage, Inc. (NGVC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Natural Grocers by Vitamin Cottage, Inc.'s revenue?
Natural Grocers by Vitamin Cottage, Inc. (NGVC) reported $1.34B in revenue for fiscal year 2025. This represents a 490% increase from $226.9M in 2010.
How fast is Natural Grocers by Vitamin Cottage, Inc. growing?
Natural Grocers by Vitamin Cottage, Inc. (NGVC) grew revenue by 7.2% over the past year. This is steady growth.
Is NGVC profitable?
Yes, Natural Grocers by Vitamin Cottage, Inc. (NGVC) is profitable, generating $48.2M in net income for fiscal year 2025 (3.5% net margin).
Dividend & Returns
Does NGVC pay dividends?
Yes, Natural Grocers by Vitamin Cottage, Inc. (NGVC) pays a dividend with a yield of 1.43%. This makes it attractive for income-focused investors.
What is NGVC's return on equity?
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a return on equity (ROE) of 24.0%. This is excellent, indicating efficient use of shareholder capital.
What is Natural Grocers by Vitamin Cottage, Inc.'s free cash flow?
Natural Grocers by Vitamin Cottage, Inc. (NGVC) generated $51.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.