Natural Grocers by Vitamin Cottage, Inc. (NGVC) Financial Statements
Industry: Grocery Stores (Retail)
In fiscal 2025, Natural Grocers by Vitamin Cottage reported revenue of $1.33B, up 7.2% from $1.24B the year before. Net income was $46.4M (a 3.5% net margin), or $2.00 per diluted share. Gross margin was 29.9% and operating margin was 4.7%. Operating activities generated $55.3M of cash, leaving $24.1M of free cash flow. At fiscal year end, Natural Grocers by Vitamin Cottage held $670.5M in total assets against $458.1M in total liabilities, including $17.1M of cash and equivalents.
Open the full interactive Natural Grocers by Vitamin Cottage financials → Quarterly statements, key ratios, valuation history and price charts.
Natural Grocers by Vitamin Cottage Key Stats
| Share Price | $30.26 |
|---|---|
| Market Cap | $704.0M |
| P/E Ratio | 15.1 |
| Revenue YoY Growth | +7.2% |
| 52-Week Range | $23.33 – $39.87 |
| Shares Outstanding | 23.0 million (basic, 2026 Q3) |
Natural Grocers by Vitamin Cottage Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.04B | $1.06B | $1.09B | $1.14B | $1.24B | $1.33B |
| Gross Profit | $283.1M | $292.2M | $304.9M | $326.9M | $364.8M | $397.9M |
| Operating Income | $27.7M | $28.3M | $30.2M | $31.7M | $47.0M | $62.0M |
| Pre-Tax Income | $25.7M | $26.1M | $27.8M | $28.4M | $42.8M | $58.9M |
| Income Tax | $5.7M | $5.5M | $6.4M | $5.1M | $8.9M | $12.5M |
| Net Income | $20.0M | $20.6M | $21.4M | $23.2M | $33.9M | $46.4M |
| Diluted EPS | $0.89 | $0.91 | $0.94 | $1.02 | $1.47 | $2.00 |
Natural Grocers by Vitamin Cottage Quarterly Results
| 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | |
|---|---|---|---|---|
| Revenue | $336.1M | $335.6M | $337.4M | $334.7M |
| Net Income | $11.8M | $11.3M | $13.4M | $11.1M |
| Diluted EPS | $0.51 | $0.49 | $0.58 | $0.48 |
Natural Grocers by Vitamin Cottage Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $28.5M | $23.7M | $12.0M | $18.3M | $8.9M | $17.1M |
| Current Assets | $143.4M | $135.6M | $140.7M | $152.6M | $147.1M | $168.1M |
| Total Assets | $681.8M | $655.1M | $663.1M | $669.2M | $655.5M | $670.5M |
| Current Liabilities | $129.2M | $133.8M | $137.7M | $154.0M | $164.1M | $158.8M |
| Total Long-Term Debt | — | $23.7M | $15.7M | $7.7M | — | — |
| Total Liabilities | $508.7M | $512.3M | $507.3M | $498.3M | $481.2M | $458.1M |
| Shareholders' Equity | $173.1M | $142.7M | $155.8M | $170.8M | $174.3M | $212.4M |
Natural Grocers by Vitamin Cottage Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $66.5M | $53.9M | $39.7M | $64.6M | $73.8M | $55.3M |
| Cash From Investing | -$29.6M | -$27.8M | -$31.1M | -$38.0M | -$38.6M | -$31.0M |
| Cash From Financing | -$14.6M | -$31.0M | -$20.2M | -$20.4M | -$44.6M | -$16.1M |
| Free Cash Flow | $39.8M | $27.5M | $11.7M | $28.0M | $36.2M | $24.1M |
Figures from Natural Grocers by Vitamin Cottage's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Natural Grocers by Vitamin Cottage financials page for every line item.
Natural Grocers by Vitamin Cottage Company Profile
| Ticker | NGVC |
|---|---|
| Exchange | NYSE |
| Industry | Grocery Stores (Retail) |
| Headquarters | Lakewood, Colorado |
| Incorporated in | Delaware |
| Fiscal Year End | September 30 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001547459 |
Frequently Asked Questions
What was Natural Grocers by Vitamin Cottage's revenue in fiscal 2025?
Natural Grocers by Vitamin Cottage (NGVC) reported revenue of $1.33B for fiscal 2025.
What is Natural Grocers by Vitamin Cottage's annual revenue history?
Natural Grocers by Vitamin Cottage's annual revenue by fiscal year: 2020: $1.04B; 2021: $1.06B; 2022: $1.09B; 2023: $1.14B; 2024: $1.24B; 2025: $1.33B.
What was Natural Grocers by Vitamin Cottage's net income in fiscal 2025?
Natural Grocers by Vitamin Cottage reported net income of $46.4M for fiscal 2025.
What was Natural Grocers by Vitamin Cottage's earnings per share (EPS) in fiscal 2025?
Natural Grocers by Vitamin Cottage's diluted EPS was $2.00 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Natural Grocers by Vitamin Cottage generate in fiscal 2025?
Natural Grocers by Vitamin Cottage generated $24.1M of free cash flow in fiscal 2025.
What was Natural Grocers by Vitamin Cottage's revenue last quarter?
In its most recent reported quarter (2026 Q3), Natural Grocers by Vitamin Cottage reported revenue of $334.7M.
How many shares of Natural Grocers by Vitamin Cottage are outstanding?
Natural Grocers by Vitamin Cottage reported a weighted average of 23.0 million basic shares outstanding in 2026 Q3.
What is Natural Grocers by Vitamin Cottage's market cap?
Based on its latest closing price, Natural Grocers by Vitamin Cottage (NGVC) has a market capitalization of about $704.0M.
When does Natural Grocers by Vitamin Cottage's fiscal year end?
Natural Grocers by Vitamin Cottage's fiscal year end, as registered with the SEC, is September 30.
Where is Natural Grocers by Vitamin Cottage headquartered?
Natural Grocers by Vitamin Cottage lists its business address in Lakewood, Colorado in its SEC filings.