📊 NGVC Key Takeaways
Is Natural Grocers by Vitamin Cottage, Inc. (NGVC) a Good Investment?
NGVC demonstrates financial stability with a fortress balance sheet (0.01x D/E) and positive free cash flow, but faces operational headwinds as revenue growth of 7.2% fails to translate to bottom-line expansion (net income flat YoY). Thin operating margins of 4.9% expose the company to competitive pricing pressure in the fragmented natural grocery sector.
NGVC delivers steady top-line growth and positive free cash flow supported by a conservative balance sheet and strong interest coverage. Flat net income and low ROE suggest limited operating leverage and ongoing margin pressure in a competitive, low‑margin category. Execution depends on sustaining comps while protecting gross margin and controlling SG&A.
Natural Grocers by Vitamin Cottage, Inc. Key Strengths (NGVC)
- Minimal leverage with 0.01x debt-to-equity ratio and minimal long-term debt of $1.5M
- Consistent free cash flow generation of $13.9M despite capital expenditure needs
- Healthy gross margin of 29.9% with 7.2% YoY revenue growth demonstrating market demand
- Conservative balance sheet with minimal debt and strong interest coverage
- Consistent free cash flow generation with disciplined capex
- Solid revenue growth with a resilient gross margin profile
NGVC Stock Risks: Natural Grocers by Vitamin Cottage, Inc. Investment Risks
- Net income completely flat YoY at $24.8M despite 7.2% revenue growth signals margin compression or expense control issues
- Operating margin of only 4.9% is vulnerable to competitive pricing pressure in commoditized grocery retail
- Low cash position of $20.7M relative to $673M revenue and $29.9M capex creates limited financial flexibility
- Thin margins and flat net income indicate cost pressure
- Tight liquidity (current/quick ~1.07x) and working capital sensitivity
- Intense competition in natural/organic grocery and potential lease cost headwinds
Key Metrics to Watch
- Operating margin trend and gross margin sustainability
- Free cash flow conversion rate and working capital management
- Comparable store sales growth and customer traffic patterns
- Cash balance and capital allocation strategy
- Comparable-store sales growth (traffic vs. ticket)
- Operating margin
Natural Grocers by Vitamin Cottage, Inc. (NGVC) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The relatively thin 2.1% FCF margin may limit capital allocation flexibility.
NGVC Profit Margin, ROE & Profitability Analysis
NGVC vs Consumer Sector: How Natural Grocers by Vitamin Cottage, Inc. Compares
How Natural Grocers by Vitamin Cottage, Inc. compares to Consumer sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Natural Grocers by Vitamin Cottage, Inc. Stock Overvalued? NGVC Valuation Analysis 2026
Based on fundamental analysis, Natural Grocers by Vitamin Cottage, Inc. has mixed fundamental signals relative to the Consumer sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Natural Grocers by Vitamin Cottage, Inc. Balance Sheet: NGVC Debt, Cash & Liquidity
NGVC Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Natural Grocers by Vitamin Cottage, Inc.'s revenue has grown significantly by 26% over the 5-year period, indicating strong business expansion. The most recent EPS of $1.02 reflects profitable operations.
NGVC Revenue Growth, EPS Growth & YoY Performance
NGVC Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2026 | $335.8M | $9.9M | $0.56 |
| Q1 2026 | $330.2M | $9.9M | $0.43 |
| Q3 2025 | $309.1M | $7.8M | $0.40 |
| Q2 2025 | $308.1M | $7.8M | $0.35 |
| Q1 2025 | $301.8M | $7.8M | $0.34 |
| Q3 2024 | $281.8M | $4.4M | $0.31 |
| Q2 2024 | $283.2M | $5.9M | $0.26 |
| Q3 2023 | $266.3M | $3.9M | $0.17 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Natural Grocers by Vitamin Cottage, Inc. Dividends, Buybacks & Capital Allocation
NGVC SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Natural Grocers by Vitamin Cottage, Inc. (CIK: 0001547459)
📋 Recent SEC Filings
❓ Frequently Asked Questions about NGVC
What is the AI rating for NGVC?
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a Combined AI Grade of B from Claude (B) and ChatGPT (B) with 70% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are NGVC's key strengths?
Claude: Minimal leverage with 0.01x debt-to-equity ratio and minimal long-term debt of $1.5M. Consistent free cash flow generation of $13.9M despite capital expenditure needs. ChatGPT: Conservative balance sheet with minimal debt and strong interest coverage. Consistent free cash flow generation with disciplined capex.
What are the risks of investing in NGVC?
Claude: Net income completely flat YoY at $24.8M despite 7.2% revenue growth signals margin compression or expense control issues. Operating margin of only 4.9% is vulnerable to competitive pricing pressure in commoditized grocery retail. ChatGPT: Thin margins and flat net income indicate cost pressure. Tight liquidity (current/quick ~1.07x) and working capital sensitivity.
What is NGVC's revenue and growth?
Natural Grocers by Vitamin Cottage, Inc. reported revenue of $673.0M.
Does NGVC pay dividends?
Natural Grocers by Vitamin Cottage, Inc. pays dividends, with $6.9M distributed to shareholders in the trailing twelve months.
Where can I find NGVC SEC filings?
Official SEC filings for Natural Grocers by Vitamin Cottage, Inc. (CIK: 0001547459) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is NGVC's EPS?
Natural Grocers by Vitamin Cottage, Inc. has a diluted EPS of $1.07.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is NGVC's fundamental grade?
Based on our AI fundamental analysis in May 2026, Natural Grocers by Vitamin Cottage, Inc. has a B grade with 70% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is NGVC stock overvalued or undervalued?
Valuation metrics for NGVC: ROE of 10.7% (sector avg: 18%), net margin of 3.7% (sector avg: 8%). Compare these metrics with sector averages to assess valuation.
What is NGVC's AI grade for 2026?
Our dual AI analysis gives Natural Grocers by Vitamin Cottage, Inc. a combined B grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is NGVC's free cash flow?
Natural Grocers by Vitamin Cottage, Inc.'s operating cash flow is $43.8M, with capital expenditures of $29.9M. FCF margin is 2.1%.
How does NGVC compare to other Consumer stocks?
Vs Consumer sector averages: Net margin 3.7% (avg: 8%), ROE 10.7% (avg: 18%), current ratio 1.05 (avg: 1.5).