Natural Grocers by Vitamin Cottage, Inc. NGVC

29.71 (0.26) (0.87%) as of 25 Sep
Market cap
$690.7M
P/E
14.4×
Growth Flags show if company had growth for consecutive years

Insider Decisions

Total sells 0.09
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — 1 — — — —
Insider Ownership 58.25%

Capital & Financial Ratios

Market Cap 690.68
Revenue 1,343.84
Net Income 47.64
Free Cash Flow 22.32
Net Debt 25.50
Current Ratio 1.10
Debt/Equity 0.18
P/E ratio 14.37
P/S ratio 0.51
P/B ratio 2.85
Past 5Y EPS Growth 28.63%
This Y EPS Growth (3.35%)
Next Y EPS Growth 8.10%
Next 5Y EPS Growth (0.62%)
in millions of $

Dividends

Payout Ratio 0.47
Annual Dividend Rate 0.40
Annual Dividend Yield 2.70%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 Powerpack
2023 0.30
0.10
0.10
0.10
2022 0.40
0.10
0.10
0.10
0.10
2021 0.31
0.07
0.07
0.07
0.10
2020 2.28
0.07
0.07
0.07
2.07
2019 0.07
0.07
2018 Powerpack
2017 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 18 9 17 17
Receivables 11 13 12 11
Inventory 119 121 133 135
Other — — — —
153 147 168 174
2023 2024 2025 Q'26
Payables 81 88 81 90
ST’ Debt 2 — — 0
Other — — — —
154 164 159 158
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 7.86% 5.12% 6.89%
Cash Flow 3.04% (3.62%) 11.69%
Earnings 11.10% 18.34% 29.54%
Book Value 6.28% 4.18% 10.88%

Revenue

Dec Mar Jun Sep Year
’26 336 337 335 — —
’25 330 336 329 336 1,331
’24 302 308 309 323 1,242
’23 280 283 282 295 1,141
’22 277 272 266 274 1,090
’21 265 259 259 273 1,056
’20 230 278 265 264 1,037
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Dec Mar Jun Sep Year
’26 21 23 11 — —
’25 3 34 3 16 55
’24 17 20 12 24 74
’23 21 14 1 28 65
’22 12 16 2 10 40
’21 12 5 14 23 54
’20 10 43 8 5 67
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Dec Mar Jun Sep Year
’26 12 2 1 — —
’25 (7) 28 (4) 8 24
’24 5 10 3 18 35
’23 10 7 (5) 15 27
’22 7 8 (4) (3) 8
’21 9 (1) 6 12 26
’20 (2) 35 3 1 37
in millions of $ · fiscal quarters ending in the months shown

EPS

Dec Mar Jun Sep Year
’26 0.49 0.58 0.48 — —
’25 0.43 0.56 0.50 0.51 2.00
’24 0.34 0.35 0.40 0.39 1.47
’23 0.19 0.26 0.31 0.26 1.02
’22 0.39 0.28 0.17 0.09 0.94
’21 0.16 0.21 0.22 0.32 0.91
’20 0.08 0.43 0.21 0.16 0.89
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
10.46 4.79 6.18 8.19 5.41 9.88 8.88 8.00 14.31 24.00

Analyst estimates 2026–2028

Powerpack
Low Price
22.43 13.79 24.50 16.40 17.39 18.75 24.25 17.49 47.57 61.22
High Price
3,074 3,270 3,598 3,681 4,272 4,192 4,173 4,173 4,145 4,250
Employees
0 0 0 0 0 0 0 0 0 0
Revenue/Emp
705 769 849 904 1,037 1,056 1,090 1,141 1,242 1,331
Revenue
28.60% 27.61% 26.57% 26.42% 27.31% 27.68% 27.98% 28.66% 29.38% 29.90%
Gross Margin
17 10 10 12 26 26 28 28 43 59
EBT
2.46% 1.34% 1.24% 1.31% 2.48% 2.47% 2.55% 2.49% 3.45% 4.43%
EBT Margin
11 7 13 9 20 21 21 23 34 46
Net Income
26 30 29 29 31 30 28 29 31 32
Depreciation
31.37 34.25 37.97 40.29 46.08 46.72 48.07 50.19 54.52 58.02
Revenue/Sh
0.51 0.31 0.57 0.42 0.89 0.91 0.94 1.02 1.49 2.02
Earnings/Sh
1.28 1.82 1.92 1.67 2.96 2.38 1.75 2.84 3.24 2.41
Cash Flow/Sh
(2.39) (1.71) (1.06) (1.42) (1.31) (1.25) (1.39) (1.67) (1.70) (1.36)
Capex/Sh
(1.11) 0.10 0.86 0.24 1.64 1.14 0.36 1.17 1.54 1.05
Free CF/Sh
5.63 5.96 6.56 7.00 7.69 6.32 6.87 7.52 7.65 9.26
Book Value/Sh
22 22 22 22 23 23 23 23 23 23
Shares
21.46 17.74 28.40 23.79 11.08 12.33 11.48 12.76 19.93 19.80
PE Ratio
0.36 0.16 0.43 0.25 0.21 0.24 0.22 0.26 0.54 0.69
PS Ratio
1.98 0.92 2.47 1.43 1.28 1.78 1.57 1.73 3.88 4.32
PB Ratio
0.44 0.24 0.48 0.31 0.26 0.28 0.27 0.29 0.57 0.71
EV/Sales
(12.40) 74.25 21.34 50.69 7.25 11.41 35.42 12.49 20.28 39.46
EV/FCF
29 41 43 37 67 54 40 65 74 55
Op' Cash Flow
(54) (38) (24) (32) (30) (28) (31) (38) (39) (31)
Capex
(25) 2 19 5 37 26 8 27 35 24
FCF
31 37 31 32 14 2 3 (1) (17) 9
Working Cap'
59 62 54 58 74 63 60 55 43 46
Total Debt
55 55 45 52 46 39 48 36 34 29
Net Debt
127 134 147 157 173 143 156 171 174 212
Sh' Equity
4.44% 2.37% 4.17% 2.97% 3.97% 3.08% 3.24% 3.49% 5.12% 7.01%
ROA
7.00% 4.66% 4.91% 5.02% 7.92% 9.72% 9.23% 9.55% 14.08% 16.08%
ROIC
9.47% 5.29% 9.02% 6.20% 12.13% 13.03% 14.31% 14.23% 19.67% 24.02%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Natural Grocers by Vitamin Cottage, Inc. (NGVC) key facts

  • Natural Grocers by Vitamin Cottage, Inc. (NGVC) is a Grocery Stores company in the Consumer Defensive sector, listed on the New York Stock Exchange.
  • Natural Grocers by Vitamin Cottage, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $1.3 billion, up 7.19% from fiscal 2024.
  • Net income was $46.4 million, or $2.02 per share (basic), a net margin of 3.49%.
  • As of September 25, 2026, NGVC traded at $29.71, a market capitalization of $690.7 million.
  • At that price the stock trades at 14.4× trailing-twelve-month earnings and 0.5× sales.
  • Natural Grocers by Vitamin Cottage, Inc. pays an annual dividend of $0.40 per share, a yield of 2.70%, with a payout ratio of 47.1%.
  • Return on equity was 24.0% and debt-to-equity 0.18.

Source: company filings (standardised) and stockrow calculations.

Natural Grocers by Vitamin Cottage, Inc. (NGVC) Latest News

News by impact score

Fine-tune

21 Sep

4

Bank of America started coverage on Natural Grocers by Vitamin Cottage (NGVC) with a Buy rating and a $35 price target, implying about 20% upside from the Sept. 18 close as the company eyes 6-7% revenue growth, 4-5% annual store openings, and margin expansion. NGVC operates 174 small-box stores in 22 states, with pricing about 15% below Sprouts, private labels at 10% of sales, and a 16% ROIC. The bank highlights growth through DoorDash delivery and e-commerce, plus expansion into smaller markets; risks include slower store traffic, inflation not boosting supplement margins, and a recent quarter that missed earnings and revenue. Shares traded around $30.98, with a 13x forward multiple, and a modest dividend of $0.15 per share. BofA's Buy rating and $35 target could meaningfully re-rate NGVC on its growth, margins, and small-market expansion.

17 Sep

3

Natural Grocers targets Texas expansion to drive long-term growth. Texas expansion represents a strategic growth initiative with moderate effects on future revenue and positioning.

7 Sep

3

Natural Grocers by Vitamin Cottage reported higher sales yet lowered its earnings forecast. Trimmed forecast despite sales growth points to limited but noticeable pressure on NGVC outlook and stock reaction.

3 Sep

3

Natural Grocers by Vitamin Cottage launches nationwide on-demand delivery through DoorDash. Nationwide DoorDash integration broadens customer reach and supports modest sales growth without transforming core operations.

13 Aug

4 transcript

Natural Grocers (NGVC) held its Q3 2026 earnings call covering financial results, operational updates, and forward outlook for the company. Earnings call details on results and outlook typically drive notable shifts in NGVC stock valuation and investor positioning.

12 Aug

3

Natural Grocers by Vitamin Cottage reported year-over-year Q3 earnings decline, triggering a 14% stock price drop. Single-quarter earnings shortfall produced a sharp but isolated stock reaction without evidence of lasting operational shifts.

8 Aug

3 transcript

Natural Grocers by Vitamin Cottage held its Q3 earnings call and released highlights covering quarterly results and operations. Q3 earnings figures and outlook statements can moderately shift near-term investor sentiment and stock movement.

7 Aug

3

Natural Grocers by Vitamin Cottage reported Q3 success accompanied by a hidden downside. Q3 results mix reported success with undisclosed negative factors likely to influence near-term market views.

3

NGVC held its Q3 2026 earnings call, reporting financial results, operational metrics, and management commentary on performance and outlook. Quarterly earnings data and guidance directly inform near-term financial expectations and stock valuation for NGVC.

3

Natural Grocers by Vitamin Cottage Inc reported record store performance in its Q3 2026 earnings call. Record store results signal moderate positive effects on near-term operations and sentiment without altering long-term trajectory.

14 May

3

Natural Grocers by Vitamin Cottage, Inc. (NGVC) reported Q2 earnings rise year-over-year driven by loyalty program growth, with stock climbing 4%. Q2 earnings growth from loyalty program expansion moderately boosts financial performance and market sentiment without fundamentally altering long-term trajectory.

13 May

3

Natural Grocers by Vitamin Cottage, Inc. (NGVC) released Q2 earnings call highlights detailing financial performance, sales growth, and strategic updates. Q2 earnings highlights provide updates on financial results and operations with moderate influence on near-term market performance.

9 May

4 transcript

Natural Grocers by Vitamin Cottage, Inc. (NGVC) released Q2 2026 earnings call transcript detailing quarterly financial results, sales performance, and management outlook. Q2 2026 earnings transcript discloses key financial metrics and guidance that significantly shape NGVC's trajectory and investor perceptions.

8 May

3

Natural Grocers by Vitamin Cottage, Inc. (NGVC) released Q2 2026 earnings call summary highlighting financial performance, sales growth, and future outlook. Q2 2026 earnings summary reveals financial results and guidance affecting short-term performance and investor sentiment.

7 May

4

Natural Grocers by Vitamin Cottage, Inc. announced second quarter fiscal 2026 results, reporting sales growth, comparable store sales increases, and profitability metrics amid ongoing expansion and operational improvements. Quarterly earnings announcements reveal financial health and future guidance, significantly impacting stock performance and investor confidence.

7 Apr

3

Natural Grocers by Vitamin Cottage, Inc. (NGVC) launches Regenerative Organic Certified® Pasture-Raised Eggs under its private-label brand, expanding offerings with nutrient-dense, ethically sourced products from regenerative farms, available in stores nationwide starting this month. Private-label expansion into certified regenerative eggs bolsters product innovation and competitive edge in natural foods without fundamentally altering overall trajectory.

11 Feb

3

Natural Grocers by Vitamin Cottage, Inc. reported a year-over-year increase in Q1 earnings, attributing the growth to effective cost management strategies. The company has focused on maintaining operational efficiency while navigating market challenges, which has positively impacted its financial performance. This disciplined approach has allowed Natural Grocers to enhance profitability despite external pressures. Cost discipline measures are expected to moderately influence financial performance and competitive positioning.

10 Feb

4

Natural Grocers by Vitamin Cottage, Inc. (NGVC) is being evaluated by analysts as a potential investment in the FMCG sector. The company has shown resilience and growth potential, with analysts highlighting its strong market position and commitment to organic and natural products. Recent performance metrics and strategic initiatives are contributing to a positive outlook, making it a stock worth considering for investors looking in the FMCG space. Analysts indicate significant growth potential and strategic initiatives that could alter the company's market trajectory.

9 Feb

4

Natural Grocers by Vitamin Cottage, Inc. is expanding its operations by opening a new store in a different state, marking a significant step in its growth strategy. The new location aims to enhance the company's market presence and cater to a broader customer base, reflecting its commitment to providing organic and natural products. This expansion is part of the company's ongoing efforts to increase accessibility to health-focused grocery options. The expansion into a new state is a significant strategic move that could enhance market presence and investor sentiment.

6 Feb

4

Natural Grocers by Vitamin Cottage, Inc. reported its Q1 earnings, highlighting increased sales and customer traffic. The company emphasized its commitment to expanding product offerings and enhancing customer experience. Management discussed strategies for growth, including new store openings and improvements in supply chain efficiency. The overall financial performance showed resilience despite market challenges, with a focus on maintaining competitive pricing and quality. Future initiatives aim to strengthen brand loyalty and attract a broader customer base. Significant growth strategies and improved financial performance indicate a likely positive shift in the company's trajectory.

4

Natural Grocers by Vitamin Cottage, Inc. (NGVC) reported strong earnings for Q1 2026, highlighting a significant increase in earnings per share (EPS) and overall financial performance. The company attributed its success to strategic initiatives and a growing customer base, which contributed to higher sales figures. Management expressed optimism about future growth prospects and plans to expand product offerings and store locations. The positive results reflect the company's resilience in a competitive market and its commitment to providing high-quality natural and organic products. Strong EPS growth and strategic initiatives indicate significant potential for future performance improvements.

3

Natural Grocers by Vitamin Cottage, Inc. plans to expand its presence by opening a new store in Lake Geneva, Wisconsin. The new location is set to enhance the company's footprint in the Midwest, aligning with its strategy to provide organic and natural products to more communities. The store is expected to create local jobs and contribute to the economy while promoting healthy living. The expansion into Lake Geneva is expected to moderately influence the company's market presence and financial performance.

5 Feb

4 transcript

Natural Grocers by Vitamin Cottage, Inc. reported its Q1 2026 earnings, highlighting a year-over-year increase in revenue and same-store sales. The company emphasized its commitment to expanding product offerings and enhancing customer experience. Management discussed strategies for growth, including new store openings and improved supply chain efficiencies. Despite challenges in the retail environment, Natural Grocers remains optimistic about its market position and future performance. Significant growth strategies and positive financial results indicate a strong potential for future performance.

4

Natural Grocers by Vitamin Cottage, Inc. reported its fiscal Q1 earnings, showing a notable increase in revenue and same-store sales. The company highlighted its commitment to expanding product offerings and enhancing customer experience. Despite challenges in the retail environment, Natural Grocers remains optimistic about future growth, driven by strategic initiatives and a focus on health-conscious consumers. The earnings report reflects a positive trajectory, with management expressing confidence in achieving long-term goals. The earnings report indicates significant growth and strategic initiatives that could alter the company's future performance.

4

Natural Grocers by Vitamin Cottage, Inc. reported its financial results for the first quarter of fiscal 2026, highlighting an increase in revenue and same-store sales. The company attributed growth to strong customer demand and effective marketing strategies. Additionally, management provided guidance for the upcoming quarters, indicating optimism about future performance and expansion plans. The results reflect the company's commitment to providing high-quality natural and organic products. The reported revenue growth and positive future guidance indicate significant strategic moves that could alter the company's trajectory.

4 Feb

4

Natural Grocers by Vitamin Cottage, Inc. has released its Fiscal Year 2025 Sustainability Report, marking 70 years of leadership in the natural and organic grocery industry. The report highlights the company's commitment to sustainability practices, including sourcing organic products, reducing waste, and promoting health and wellness in communities. It outlines various initiatives aimed at enhancing environmental stewardship and supporting local farmers, reflecting the company's ongoing dedication to responsible business practices. The release of the sustainability report signifies a major strategic commitment to environmental practices that could enhance brand loyalty and market positioning.

3 Feb

3

Natural Grocers by Vitamin Cottage, Inc. has introduced two new organic flavors to its house brand chocolate bar line, expanding its product offerings to cater to health-conscious consumers. The new flavors, Dark Chocolate with Sea Salt and Milk Chocolate with Almonds, are made with high-quality organic ingredients and are part of the company's commitment to providing affordable organic options. This launch aims to enhance customer satisfaction and attract new shoppers looking for healthier snack alternatives. The introduction of new organic flavors may positively influence product innovation and customer interest, but the overall impact on the company's trajectory is expected to be limited.

28 Jan

4

Natural Grocers by Vitamin Cottage, Inc. (NGVC) is highlighted as a promising investment opportunity in the U.S. market for January 2026. The company is noted for its commitment to providing high-quality organic and natural products, which positions it well amid growing consumer demand for health-focused options. Analysts suggest that NGVC's strategic initiatives and expansion plans could lead to significant growth, making it an attractive option for investors looking for undervalued stocks in the health and wellness sector. Strategic initiatives and expansion plans are expected to significantly influence the company's future performance and market positioning.

15 Jan

3

Natural Grocers by Vitamin Cottage, Inc. has expanded its house brand with the introduction of five new varieties of organic frozen fruit and smoothie blends. This expansion aims to enhance the product offerings available to health-conscious consumers and aligns with the company's commitment to providing high-quality organic products. The new blends include a variety of fruits and are designed for convenience and nutrition, catering to the growing demand for frozen organic options in the market. The introduction of new product varieties is expected to moderately influence market performance and consumer interest in the brand.

8 Jan

3

Natural Grocers® has launched a free three-part class series aimed at helping customers improve their health. The classes will cover various topics, including nutrition, wellness, and healthy cooking, and are designed to empower participants with knowledge and practical skills. This initiative reflects the company's commitment to promoting health and wellness in the community. The initiative may enhance customer engagement and brand loyalty, positively influencing market sentiment.

stockrow.com/NGVC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com