Grocery Outlet Holding Corp. (GO) vs Natural Grocers by Vitamin Cottage, Inc. (NGVC)

Grocery Outlet Holding Corp. and Natural Grocers by Vitamin Cottage, Inc. are both Grocery Stores companies. Grocery Outlet Holding Corp. is the larger, with a market value of $1.1B against $690.7M — 1.6× the size. Grocery Outlet Holding Corp. has negative trailing earnings, so its P/E is not meaningful; Natural Grocers by Vitamin Cottage, Inc. trades at 14.4×. Grocery Outlet Holding Corp. grew revenue faster over the last twelve months: 5.12% against 2.01%. Natural Grocers by Vitamin Cottage, Inc. has the higher net margin (3.55% vs −8.04%) and the higher return on invested capital (14.9% vs −18.7%). Across the 20 metrics below, Natural Grocers by Vitamin Cottage, Inc. leads on 13 and Grocery Outlet Holding Corp. on 7.

Valuation

Metric GO NGVC Grocery Stores median
P/E n/m 14.37 14.37
P/S 0.23 0.51 0.26
P/B 1.34 2.85 1.73
Price to free cash flow n/m 30.56 11.51
EV/EBITDA 23.10 7.39 6.40
EV/Sales 0.32 0.53 0.33
Earnings yield (34.96%) 6.96% 6.14%
Free cash flow yield (0.38%) 3.27% 7.48%

Profitability

Metric GO NGVC Grocery Stores median
Gross margin 29.99% 29.64% 27.60%
Operating margin (7.89%) 4.71% 1.94%
Net margin (8.04%) 3.55% 1.60%
Free cash flow margin (0.09%) 1.66% 1.64%
Return on equity (38.06%) 21.56% 8.97%
Return on assets (12.07%) 7.08% 3.10%
Return on invested capital (18.74%) 14.92% 5.82%

Growth

Metric GO NGVC Grocery Stores median
Revenue growth (TTM) 5.12% 2.01% 3.48%
EPS growth (last fiscal year) (675.00%) 36.05% —
Revenue growth, 5-year CAGR 8.39% 5.12% 5.16%
Net income growth, 5-year CAGR 0.00% 18.34% 0.00%

Health

Metric GO NGVC Grocery Stores median
Debt to equity 0.62 0.18 0.46
Current ratio 1.29 1.10 1.11
Net debt to EBITDA 7.22 0.30 0.46

Dividend

Metric GO NGVC Grocery Stores median
Dividend yield — 2.70% 2.20%
Payout ratio 0.00 0.47 0.13

Size

Metric GO NGVC Grocery Stores median
Market cap 1.12b 690.68m 1.19b

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