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Natural Grocers by Vitamin Cottage, Inc. NGVC R2K

Consumer Defensive · Grocery Stores · United States
https://www.naturalgrocers.com

Natural 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; private label repackaged bulk products, including dried fruits, nuts, grains, granolas, teas, herbs, and spices, as well as peanut and almond butters; private label products comprising grocery staples, household products, bulk foods, and vitamins and dietary supplements, as well as organic eggs, organic flavored coffee, and organic mustard; 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 name-brand supplements, as well as 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; household and general merchandise, including cleaning supplies, paper products, and dish and laundry soaps, as well as other common household products, such as diapers; and books and handouts. The company operates its retail stores under the Natural Grocers, Vitamin Cottage, Health Hotline, Natural Grocers by Vitamin Cottage trademark, as well as Vitamin Cottage Natural Grocers and Health Hotline trademarks. The company also offers science-based nutrition education programs to help customers make informed health and nutrition choices. The company was formerly known as Vitamin Cottage Natural Food Markets, Inc. Natural Grocers by Vitamin Cottage, Inc. was founded in 1955 and is headquartered in Lakewood, Colorado.

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$29.36
-38.69% 1Y

Market & Price

Market Cap
$676.48M
Current Price
$29.36
High / Low (52W)
$47.89 / $23.45
Beta
1.31

Valuation

Stock P/E
14.12
Industry PE
18.88
Forward P/E
12.71
PEG Ratio
1.44
Book Value
$10.02
Price to Book
2.93
P/S
0.51
EV/EBITDA
10.02
Dividend Yield
2.04%

Profitability & Returns

ROCE
12.11%
ROE
22.73%
ROA
5.92%
Profit Margin
3.60%
Op Margin
5.37%
EPS (Latest Qtr)
$0.58
EPS (TTM)
$2.08

Balance Sheet & Liquidity

Debt/Equity
1.41
Quick Ratio
0.21
Current Ratio
1.05
Debt
$324.52M
Total Assets
$670.50M
Current Assets
$168.07M
Working Capital
$9.29M

Ownership

Promoter Holding
43.84%
Chg in Prom Hold
-
FII / Inst Holding
38.93%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
$980.28M
Total Revenue (TTM)
$1.34B
EBITDA
$97.87M
Free Cash Flow
$15.97M
Operating Cash Flow
$62.40M
Shares Outstanding
23.04M
Gross Margin
33.64%
Payout Ratio
25.96%

Growth (CAGR)

Revenue 5Y
6.89%
Profit 5Y
29.54%
Revenue (YoY)
0.50%
Earnings (YoY)
3.60%

PROS

  • Strong return on equity of 22.7%.
  • Profit CAGR of 29.5% over 5 years.
  • Generates positive free cash flow.

CONS

  • Trading 38.7% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Defensive).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 NGVC Natural Grocers by Vitamin Cottage, Inc. R2K 29.36 14.12 $676.48M 2.04% 12.11% 22.73% 6.89% 29.54%
2 WMT Walmart Inc. SPX 115.75 40.76 $922.64B 0.86% 18.21% 24.13% 5.27% 23.30%
3 COST Costco Wholesale Corporation NDXSPX 956.32 49.76 $424.27B 0.61% 27.44% 29.65% 6.64% 11.49%
4 KO The Coca-Cola Company SPX 79.01 24.85 $339.94B 2.68% 21.13% 43.37% 3.69% 11.16%
5 PG The Procter & Gamble Company SPX 143.56 21.02 $334.29B 2.97% 23.63% 31.11% 1.67% 2.71%
6 PM Philip Morris International Inc. SPX 177.38 24.98 $276.46B 3.31% 35.35% - 8.57% 7.84%
7 PEP PepsiCo, Inc. NDXSPX 144.19 22.64 $197.10B 4.11% 15.23% 43.88% 2.83% -2.57%
8 MO Altria Group, Inc. SPX 69.58 14.53 $116.19B 6.09% 40.85% - -0.89% 6.42%
9 MNST Monster Beverage Corporation NDXSPX 88.08 42.55 $86.14B - 28.33% 26.65% 9.54% 16.94%
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Quarterly Results

Figures in USD.

Metric Dec 2015Mar 2016Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Dec 2023Mar 2024Jun 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue --------202.48M215.91M213.13M-221.51M230.45M224.41M-230.03M277.52M265.11M-265.05M259.20M258.62M-277.29M271.82M266.31M-280.46M283.25M281.79M301.75M308.09M309.08M330.22M335.77M328.70M336.14M335.58M337.38M
Cost of Revenue -----------------------------------234.02M230.43M237.12M236.72M234.93M
Gross Profit 48.30M51.60M50.93M50.94M52.15M54.16M52.78M53.24M53.16M58.28M56.83M57.30M59.15M62.21M58.42M58.97M60.52M77.82M72.38M72.41M73.03M71.83M71.54M75.79M78.74M76.78M73.56M75.80M78.72M82.48M81.39M88.76M90.36M90.33M98.82M101.75M98.28M99.03M98.86M102.44M
Operating Expenses -----------------------------------83.78M82.67M83.36M83.84M83.70M
Operating Income 6.69M6.45M4.01M3.22M4.17M5.51M1.68M2.74M2.19M5.65M3.76M3.46M4.04M6.12M3.83M2.77M2.85M13.26M6.69M4.96M5.20M6.71M7.05M9.37M12.02M8.86M5.65M3.62M6.42M8.43M9.08M10.80M11.26M12.85M13.35M17.97M15.61M15.67M15.02M18.75M
EBITDA -----------------------------------25.44M23.54M23.52M22.62M26.26M
Interest Expense -----------------------------------750.00K694.00K696.00K713.00K632.00K
Pretax Income -----------------------------------16.80M14.89M14.81M13.93M17.47M
Tax Provision -----------------------------------3.70M3.29M3.01M2.60M4.04M
Net Income ----2.06M3.00M598.00K-5.18M3.40M1.99M-2.20M3.86M2.00M-1.87M9.72M4.69M-3.63M4.70M5.03M-8.91M6.36M3.93M-4.41M5.88M7.07M7.75M7.96M9.21M9.94M13.10M11.61M11.80M11.33M13.43M
Diluted EPS 0.170.160.120.070.090.130.030.060.230.150.090.090.100.170.090.060.080.430.210.160.160.210.220.320.390.280.170.090.190.260.310.340.350.400.430.560.500.510.490.58

Profit & Loss (Annual)

Figures in USD.

Metric Sep 2011Sep 2012Sep 2013Sep 2014Sep 2015Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Revenue ------769.03M849.04M903.58M1.04B-1.09B1.14B1.24B1.33B
Cost of Revenue -----------784.74M813.64M876.77M932.96M
Gross Profit 77.38M99.06M125.73M151.50M182.10M201.77M212.34M225.57M238.75M283.14M-304.88M326.93M364.81M397.88M
Operating Expenses -----------273.62M293.25M316.11M334.84M
Operating Income 7.41M11.99M19.09M24.25M28.63M20.38M14.10M15.05M16.77M27.75M-31.26M33.68M48.70M63.03M
EBITDA -----------58.06M60.58M77.91M93.80M
Interest Expense -----------2.37M3.30M4.18M3.06M
Pretax Income -----------27.78M28.37M42.80M58.93M
Tax Provision -----------6.42M5.13M8.87M12.48M
Net Income ----16.20M11.47M6.89M12.66M9.42M20.01M-21.36M23.24M33.94M46.44M
Diluted EPS 0.160.300.470.600.720.510.310.560.420.89-0.941.021.472.00

Compounded Sales Growth

5 Years:6.89%
1 Year:0.50%

Compounded Profit Growth

5 Years:29.54%
1 Year:3.60%

Stock Price Performance

1 Year:-38.69%
6 Months:+6.46%
3 Months:+9.81%
1 Month:+6.29%

Balance Sheet (Annual)

Figures in USD.

Metric Sep 2010Sep 2011Sep 2012Sep 2013Sep 2014Sep 2015Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Total Assets --125.66M159.90M188.99M233.92M282.25M299.99M307.08M327.11M681.79M-663.11M669.18M655.48M670.50M
Current Assets ------------140.66M152.55M147.06M168.07M
Cash & Equivalents 446.00K378.00K17.29M8.13M5.11M2.92M4.02M6.52M9.40M6.21M28.53M-12.04M18.34M8.87M17.12M
Inventory ------------113.76M119.26M120.67M132.97M
Receivables ------------10.50M10.80M12.61M11.97M
Total Liabilities --52.71M75.37M90.13M118.44M155.52M166.11M160.36M170.21M508.73M-507.30M498.34M481.22M458.11M
Current Liabilities --34.09M38.40M49.89M69.88M66.54M71.56M79.69M83.27M129.15M-137.73M154.03M164.13M158.78M
Long Term Debt ----------021.94M13.94M5.94M--
Total Debt ------------393.37M370.18M346.51M332.02M
Total Equity --72.95M84.53M98.85M115.49M126.72M133.88M146.73M156.91M173.07M-155.81M170.84M174.25M212.40M
Shares Outstanding ------------22.69M22.75M22.89M22.95M

Cash Flows (Annual)

Figures in USD.

Metric Sep 2011Sep 2012Sep 2013Sep 2014Sep 2015Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Operating Cash Flow ----41.00M28.83M40.85M42.86M37.38M66.50M-39.69M64.61M73.76M55.30M
Investing Cash Flow -----42.34M-53.74M-38.50M-23.54M-31.86M-29.56M--31.14M-37.95M-38.60M-30.97M
Financing Cash Flow -----863.00K26.02M154.00K-16.44M-8.70M-14.63M--20.19M-20.35M-44.63M-16.09M
Capital Expenditure -20.45M-25.26M-39.71M-36.51M-36.75M-53.76M-41.14M-23.69M-30.03M-26.75M--31.44M-38.09M-38.68M-31.38M
Free Cash Flow ----4.25M-24.93M-290.00K19.18M7.35M39.75M-8.25M26.51M35.08M23.93M
Net Change in Cash ------------11.64M6.30M-9.47M8.24M
Share Buybacks -----829.00K261.00K581.00K0000181.00K00

Ratios (Annual)

Figures in %.

Metric Sep 2011Sep 2012Sep 2013Sep 2014Sep 2015Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Gross Margin % ------27.6%26.6%26.4%27.3%-28.0%28.7%29.4%29.9%
Operating Margin % ------1.8%1.8%1.9%2.7%-2.9%3.0%3.9%4.7%
Net Margin % ------0.9%1.5%1.0%1.9%-2.0%2.0%2.7%3.5%
ROE % ----14.0%9.1%5.1%8.6%6.0%11.6%-13.7%13.6%19.5%21.9%
ROCE % -13.1%15.7%17.4%17.5%9.4%6.2%6.6%6.9%5.0%-6.0%6.5%9.9%12.3%

Shareholding Pattern

Insiders
43.84%
Institutions
38.93%
Public Float
69.32%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 4.02% 926.35K $27.20M
2 Dimensional Fund Advisors LP 2.80% 644.52K $18.92M
3 Morgan Stanley 2.59% 595.93K $17.50M
4 American Century Companies Inc 2.44% 562.04K $16.50M
5 Vanguard Capital Management LLC 2.37% 544.99K $16.00M
6 Two Sigma Investments, LP 1.77% 408.01K $11.98M
7 Renaissance Technologies, LLC 1.42% 327.10K $9.60M
8 Wellington Management Group, LLP 1.23% 283.62K $8.33M
9 Geode Capital Management, LLC 1.21% 279.34K $8.20M
10 State Street Corporation 1.18% 271.31K $7.97M

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