Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
NGVC · NYSE · United States · Retail-Grocery Stores
In shortNatural Grocers by Vitamin Cottage, Inc. is profitable, generates cash and holds more cash than debt, with revenue growing (+7.2% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 4.7% | 32/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 3.5% | 34/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 24.0% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 23.0% | 100/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.06× | 22/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.00× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 20.24× | 100/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.93 | 21/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 1.8% | 27/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.52× | 27/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 2.9% | 100/100 |
| Operating margin volatility | 0.9% | 100/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 6.9% | 55/100 |
|---|---|---|
| EPS growth, 3-year average | 28.6% | 100/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 1,056 | 1,090 | 1,141 | 1,242 | 1,331 |
| Gross profit | 292 | 305 | 327 | 365 | 398 |
| Operating income | 28 | 30 | 32 | 47 | 62 |
| Interest expense | 2.3 | 2.4 | 3.3 | 4.2 | 3.1 |
| Pre-tax income | 26 | 28 | 28 | 43 | 59 |
| Income tax | 5.5 | 6.4 | 5.1 | 8.9 | 12 |
| Net income | 21 | 21 | 23 | 34 | 46 |
| Diluted EPS | $0.91 | $0.94 | $1.02 | $1.47 | $2.00 |
| Diluted shares (millions) | 23 | 23 | 23 | 23 | 23 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
1.93 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
8/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 6, 2026