Natural Grocers by Vitamin Cottage, Inc.
NGVC NYSE· Retail-Grocery Stores
Last close · Oct 26, 2026
$30.96
KIRA · Stoqly’s AI analyst, in plain words
- Natural Grocers by Vitamin Cottage, Inc. had $1.3B of revenue in fiscal 2025, up 7.2% on the year before. Over five years, revenue changed +5.1% a year on average.
- Its operating margin was 4.7%, up 0.9 pts: of every 100 in sales, about 5 is left after running the business.
- Natural Grocers by Vitamin Cottage, Inc. made $46.4M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 16.4% a year.
- Free cash flow was $24.1M in fiscal 2025, 1.8% of revenue.
- Natural Grocers by Vitamin Cottage, Inc. returned $11.0M to shareholders in fiscal 2025, 46% of free cash flow. The diluted share count rose 0.7%.
- Natural Grocers by Vitamin Cottage, Inc. owes $32.6M more than it holds in cash, about 0.3 years of operating profit.
Market cap
$720M
P/E
15.0x
Revenue
$1.3B
Net income
$46.4M
Free cash flow
$24.1M
Operating margin
4.7%
Natural Grocers by Vitamin Cottage, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+7.2%
Yes. Sales grew 7.2% last year.
Does it make a profit?
3.5%
A little. It keeps 3.5% of every sale as profit.
Does profit turn into cash?
1.8%
Partly. 1.8% of sales ends up as free cash.
Is debt under control?
0.3x
Yes. It could repay its debt with 0.3 years of operating profit.
How healthy are the accounts?
7 / 9
Solid. It passes 7 of 9 health tests.
How is the share priced?
15.0x
One share costs 15.0 times its yearly profit per share.
What Natural Grocers by Vitamin Cottage, Inc. does
No business description yet.
- Fiscal year ends
- September 30, 2025
- Latest annual report
- 10-K · Dec 11, 2025
- Legal name
- Natural Grocers by Vitamin Cottage, Inc.
- CIK
- 0001547459
Natural Grocers by Vitamin Cottage, Inc. · NGVC
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.1B | $1.1B | $1.1B | $1.2B | $1.3B |
| Revenue growth | 1.8% | 3.2% | 4.7% | 8.9% | 7.2% |
| Gross margin | 27.7% | 28.0% | 28.7% | 29.4% | 29.9% |
| Operating margin | 2.7% | 2.8% | 2.8% | 3.8% | 4.7% |
| Net income | $20.6M | $21.4M | $23.2M | $33.9M | $46.4M |
| Net margin | 1.9% | 2.0% | 2.0% | 2.7% | 3.5% |
| Diluted EPS | $0.91 | $0.94 | $1.02 | $1.47 | $2.00 |
| Cash | |||||
| Cash from operations | $53.9M | $39.7M | $64.6M | $73.8M | $55.3M |
| Capital expenditure | $26.4M | $28.0M | $36.6M | $37.5M | $31.2M |
| Free cash flow | $27.5M | $11.7M | $28.0M | $36.2M | $24.1M |
| FCF margin | 2.6% | 1.1% | 2.5% | 2.9% | 1.8% |
| Dividends paid | $51.5M | $9.1M | $9.1M | $31.9M | $11.0M |
| Share buybacks | $0.0M | $0.0M | $0.2M | $0.0M | $0.0M |
| Share count change | 0.6% | 0.5% | 0.1% | 1.1% | 0.7% |
| Debt and strength | |||||
| Cash and short-term investments | $23.7M | $12.0M | $18.3M | $8.9M | $17.1M |
| Debt incl. finance leases | $66.3M | $63.6M | $58.5M | $47.2M | $49.7M |
| Shareholders' equity | $143M | $156M | $171M | $174M | $212M |
| Net debt / EBITDA | 0.7x | 0.9x | 0.7x | 0.5x | 0.3x |
| Current ratio | 1.0x | 1.0x | 1.0x | 0.9x | 1.1x |
| Interest coverage | 12.5x | 12.7x | 9.6x | 11.2x | 20.2x |
| Returns and quality | |||||
| Return on capital | 15.7% | 14.5% | 16.2% | 22.5% | 25.0% |
| Return on equity | 13.0% | 14.3% | 14.2% | 19.7% | 24.0% |
| Return on tangible equity | 15.7% | 15.1% | 14.8% | 21.1% | 23.1% |
| Piotroski F-score | 6 | 8 | 7 | 7 | 7 |
| Altman Z'' | 1.0 | 1.1 | 1.2 | 1.3 | 1.9 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.1M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Natural Grocers by Vitamin Cottage, Inc. · NGVC
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $30.96 a share, the company is worth $720M: 15.0 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001547459). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.