Natural Grocers by Vitamin Cottage, Inc. (NGVC) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Sales/Revenue | 337.38M | 335.58M | 336.14M | 328.7M | 335.77M | 330.22M | 322.66M | 309.08M | 308.09M | 301.75M | 295.07M | 281.79M | 283.25M | 280.46M | 274.21M | 266.31M | 271.82M | 277.29M | 272.65M | 258.62M |
| Revenue Growth % | 0.48% | 1.62% | 4.18% | 6.35% | 8.98% | 9.44% | 9.35% | 9.68% | 8.77% | 7.59% | 7.61% | 5.81% | 4.2% | 1.14% | 0.57% | 2.97% | 4.87% | 4.62% | 3.21% | -2.45% |
| Cost of Goods Sold | 242.86M | 236.72M | 237.12M | 230.43M | 234.02M | 231.4M | 227.3M | 218.75M | 217.74M | 212.99M | 210.73M | 200.4M | 200.77M | 201.74M | 198.4M | 192.75M | 195.04M | 198.55M | 196.85M | 187.08M |
| COGS % of Revenue | 71.99% | 70.54% | 70.54% | 70.1% | 69.7% | 70.07% | 70.45% | 70.77% | 70.67% | 70.58% | 71.42% | 71.12% | 70.88% | 71.93% | 72.36% | 72.38% | 71.75% | 71.6% | 72.2% | 72.34% |
| Gross Profit | 94.51M | 98.86M | 99.03M | 98.28M | 101.75M | 98.82M | 95.36M | 90.33M | 90.36M | 88.76M | 84.34M | 81.39M | 82.48M | 78.72M | 75.8M | 73.56M | 76.78M | 78.74M | 75.79M | 71.54M |
| Gross Margin % | 28.01% | 29.46% | 29.46% | 29.9% | 30.3% | 29.93% | 29.55% | 29.23% | 29.33% | 29.42% | 28.58% | 28.88% | 29.12% | 28.07% | 27.64% | 27.62% | 28.25% | 28.4% | 27.8% | 27.66% |
| Gross Profit Growth % | -7.11% | 0.04% | 3.84% | 8.8% | 12.61% | 11.34% | 13.06% | 10.99% | 9.55% | 12.76% | 11.27% | 10.65% | 7.42% | -0.02% | 0.01% | 2.82% | 6.9% | 7.82% | 4.67% | -1.16% |
| Operating Expenses | 75.84M | 84.21M | 83.52M | 82.69M | 84.19M | 85.48M | 83.3M | 77.48M | 79.1M | 77.96M | 76.61M | 72.31M | 74.05M | 72.3M | 72.19M | 67.91M | 67.92M | 66.71M | 66.42M | 64.49M |
| OpEx % of Revenue | 22.48% | 25.09% | 24.85% | 25.16% | 25.08% | 25.88% | 25.82% | 25.07% | 25.67% | 25.84% | 25.96% | 25.66% | 26.14% | 25.78% | 26.33% | 25.5% | 24.99% | 24.06% | 24.36% | 24.94% |
| Selling, General & Admin | 83.7M | 10.84M | 7.94M | 10.95M | 11.02M | 11.51M | 10.24M | 9.54M | 9.52M | 9.41M | 9.81M | 9.31M | 8.61M | 8.25M | 8.64M | 7.46M | 8.17M | 7.29M | 7.42M | 7.27M |
| SG&A % of Revenue | 24.81% | 3.23% | 2.36% | 3.33% | 3.28% | 3.49% | 3.17% | 3.09% | 3.09% | 3.12% | 3.32% | 3.3% | 3.04% | 2.94% | 3.15% | 2.8% | 3.01% | 2.63% | 2.72% | 2.81% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 18.67M | 14.65M | 15.5M | 15.59M | 17.55M | 13.35M | 12.07M | 12.85M | 11.26M | 10.8M | 7.74M | 9.08M | 8.43M | 6.42M | 3.62M | 5.65M | 8.86M | 12.02M | 9.37M | 7.05M |
| Operating Margin % | 5.53% | 4.36% | 4.61% | 4.74% | 5.23% | 4.04% | 3.74% | 4.16% | 3.66% | 3.58% | 2.62% | 3.22% | 2.98% | 2.29% | 1.32% | 2.12% | 3.26% | 4.34% | 3.44% | 2.73% |
| Operating Income Growth % | 6.38% | 9.73% | 28.48% | 21.33% | 55.87% | 23.56% | 55.95% | 41.42% | 33.57% | 68.35% | 113.97% | 60.75% | -4.88% | -46.63% | -61.41% | -19.82% | 32.18% | 131.14% | 89.01% | 5.41% |
| EBITDA | 26.82M | 22.62M | 23.52M | 23.54M | 25.44M | 21.3M | 20M | 20.69M | 18.96M | 18.25M | 15.22M | 16.29M | 15.59M | 13.48M | 10.43M | 12.72M | 15.77M | 19.14M | 16.54M | 14.45M |
| EBITDA Margin % | 7.95% | 6.74% | 7% | 7.16% | 7.58% | 6.45% | 6.2% | 6.69% | 6.16% | 6.05% | 5.16% | 5.78% | 5.5% | 4.81% | 3.81% | 4.78% | 5.8% | 6.9% | 6.07% | 5.59% |
| EBITDA Growth % | 5.43% | 6.21% | 17.64% | 13.76% | 34.16% | 16.68% | 31.42% | 26.99% | 21.67% | 35.43% | 45.84% | 28.11% | -1.18% | -29.57% | -36.92% | -12% | 11.65% | 49.05% | 30.84% | -1% |
| D&A (Non-Cash Add-back) | 8.15M | 7.97M | 8.02M | 7.95M | 7.89M | 7.95M | 7.93M | 7.84M | 7.7M | 7.45M | 7.48M | 7.21M | 7.15M | 7.06M | 6.82M | 7.07M | 6.91M | 7.11M | 7.17M | 7.41M |
| EBIT | 18.67M | 14.65M | 15.5M | 15.59M | 17.55M | 13.35M | 12.07M | 12.85M | 11.26M | 10.8M | 7.74M | 9.08M | 8.43M | 6.42M | 3.62M | 5.65M | 8.86M | 12.02M | 9.37M | 7.05M |
| Net Interest Income | -632K | -713K | -696K | -694K | -750K | -923K | -1.05M | -1.05M | -1.18M | -894K | -821K | -848K | -834K | -796K | -679K | -603K | -545K | -544K | -572K | -586K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 632K | 713K | 696K | 694K | 750K | 923K | 1.05M | 1.05M | 1.18M | 894K | 821K | 848K | 834K | 796K | 679K | 603K | 545K | 544K | 572K | 586K |
| Other Income/Expense | -1.2M | -713K | -696K | -694K | -750K | -923K | -1.05M | -1.05M | -1.18M | -894K | -821K | -848K | -834K | -796K | -679K | -603K | -545K | -544K | -572K | -586K |
| Pretax Income | 17.47M | 13.93M | 14.81M | 14.89M | 16.8M | 12.43M | 11.01M | 11.79M | 10.08M | 9.91M | 6.92M | 8.24M | 7.6M | 5.62M | 2.94M | 5.05M | 8.32M | 11.48M | 8.8M | 6.46M |
| Pretax Margin % | 5.18% | 4.15% | 4.4% | 4.53% | 5% | 3.76% | 3.41% | 3.82% | 3.27% | 3.28% | 2.34% | 2.92% | 2.68% | 2% | 1.07% | 1.9% | 3.06% | 4.14% | 3.23% | 2.5% |
| Income Tax | 4.04M | 2.6M | 3.01M | 3.29M | 3.7M | 2.49M | 2M | 2.59M | 2.12M | 2.15M | 1.04M | 1.16M | 1.71M | 1.21M | 777K | 1.11M | 1.96M | 2.56M | 1.59M | 1.43M |
| Effective Tax Rate % | 23.12% | 18.66% | 20.3% | 22.08% | 22.03% | 20.02% | 18.19% | 21.92% | 21.05% | 21.74% | 14.98% | 14.13% | 22.55% | 21.6% | 26.46% | 22.09% | 23.58% | 22.34% | 18.02% | 22.13% |
| Net Income | 13.43M | 11.33M | 11.8M | 11.61M | 13.1M | 9.94M | 9.01M | 9.21M | 7.96M | 7.75M | 5.88M | 7.07M | 5.88M | 4.41M | 2.16M | 3.93M | 6.36M | 8.91M | 7.21M | 5.03M |
| Net Margin % | 3.98% | 3.38% | 3.51% | 3.53% | 3.9% | 3.01% | 2.79% | 2.98% | 2.58% | 2.57% | 1.99% | 2.51% | 2.08% | 1.57% | 0.79% | 1.48% | 2.34% | 3.22% | 2.65% | 1.95% |
| Net Income Growth % | 2.54% | 14.05% | 30.97% | 26.02% | 64.56% | 28.15% | 53.23% | 30.22% | 35.3% | 75.97% | 172.22% | 79.81% | -7.44% | -50.57% | -70.05% | -21.84% | 35.14% | 145.46% | 93.27% | 7.27% |
| Net Income (Continuing) | 13.43M | 11.33M | 11.8M | 11.61M | 13.1M | 9.94M | 9.01M | 9.21M | 7.96M | 7.75M | 5.88M | 7.07M | 5.88M | 4.41M | 2.16M | 3.93M | 6.36M | 8.91M | 7.21M | 5.03M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.58 | 0.49 | 0.51 | 0.50 | 0.56 | 0.43 | 0.39 | 0.40 | 0.35 | 0.34 | 0.26 | 0.31 | 0.26 | 0.19 | 0.09 | 0.17 | 0.28 | 0.39 | 0.32 | 0.22 |
| EPS Growth % | 3.57% | 13.95% | 30.77% | 25% | 60% | 26.47% | 50% | 29.03% | 34.62% | 78.95% | 174.84% | 82.35% | -7.14% | -51.28% | -70.44% | -22.73% | 33.33% | 143.75% | 100% | 4.76% |
| EPS (Basic) | 0.58 | 0.49 | 0.51 | 0.51 | 0.57 | 0.43 | 0.40 | 0.40 | 0.35 | 0.34 | 0.26 | 0.31 | 0.26 | 0.19 | 0.10 | 0.17 | 0.28 | 0.39 | 0.32 | 0.22 |
| Diluted Shares Outstanding | 23.1M | 23.25M | 23.29M | 23.31M | 23.27M | 23.17M | 23.18M | 23.12M | 23.06M | 22.98M | 22.95M | 22.89M | 22.82M | 22.8M | 22.84M | 22.85M | 22.82M | 22.75M | 22.7M | 22.71M |
| Basic Shares Outstanding | 23.1M | 23.01M | 22.95M | 22.95M | 22.94M | 22.9M | 22.77M | 22.79M | 22.76M | 22.75M | 22.74M | 22.73M | 22.73M | 22.71M | 22.69M | 22.68M | 22.66M | 22.64M | 22.62M | 22.61M |
| Dividend Payout Ratio | 25.72% | 30.48% | 23.34% | 23.74% | 21% | 27.66% | 25.32% | 24.75% | 313.75% | 30.02% | 38.66% | 32.14% | 38.6% | 51.55% | 105.09% | 57.64% | 35.66% | 25.38% | 21.95% | 31.44% |