NGVC
Natural Grocers by Vitamin Cottage Inc
NYSE: NGVC · CONSUMER DEFENSIVE · GROCERY STORES
$27.77
+1.09% today
Updated 2026-04-29
Market cap
$632.72M
P/E ratio
13.34
P/S ratio
0.47x
EPS (TTM)
$2.06
Dividend yield
1.88%
52W range
$23 – $60
Volume
0.1M
Natural Grocers by Vitamin Cottage Inc (NGVC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $206.08M | $226.91M | $264.54M | $336.39M | $430.65M | $520.67M | $624.68M | $705.50M | $769.03M | $849.04M | $903.58M | $1.04B | $1.06B | $1.09B | $1.14B | $1.24B | $1.33B |
| Revenue growth (YoY) | — | +10.1% | +16.6% | +27.2% | +28.0% | +20.9% | +20.0% | +12.9% | +9.0% | +10.4% | +6.4% | +14.7% | +1.8% | +3.2% | +4.7% | +8.9% | +7.2% |
| Cost of revenue | $145.94M | $159.80M | $187.16M | $237.33M | $304.92M | $369.17M | $442.58M | $503.73M | $556.69M | $623.47M | $664.83M | $753.70M | $763.33M | $784.74M | $813.64M | $876.77M | $932.96M |
| Gross profit | $60.14M | $67.11M | $77.38M | $99.06M | $125.73M | $151.50M | $182.10M | $201.77M | $212.34M | $225.57M | $238.75M | $283.14M | $292.19M | $304.88M | $326.93M | $364.81M | $397.88M |
| Gross margin | 29.2% | 29.6% | 29.3% | 29.4% | 29.2% | 29.1% | 29.2% | 28.6% | 27.6% | 26.6% | 26.4% | 27.3% | 27.7% | 28.0% | 28.7% | 29.4% | 29.9% |
| R&D | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $51.85M | $58.09M | $10.40M | $12.73M | $13.48M | $14.82M | $17.51M | $19.24M | $20.09M | $21.51M | $22.84M | $26.78M | $28.36M | $31.56M | $34.37M | $37.05M | $41.43M |
| Operating income | $8.30M | $9.03M | $7.41M | $12.29M | $19.09M | $24.25M | $28.63M | $20.38M | $14.10M | $15.05M | $16.77M | $27.75M | $28.33M | $30.16M | $31.67M | $46.98M | $61.99M |
| Operating margin | 4.0% | 4.0% | 2.8% | 3.7% | 4.4% | 4.7% | 4.6% | 2.9% | 1.8% | 1.8% | 1.9% | 2.7% | 2.7% | 2.8% | 2.8% | 3.8% | 4.7% |
| EBITDA | $12.51M | $14.61M | $15.20M | $22.02M | $32.61M | $41.46M | $49.97M | $20.38M | $14.10M | $15.05M | $46.24M | $59.74M | $58.76M | $58.76M | $62.08M | $77.91M | $93.80M |
| EBITDA margin | 6.1% | 6.4% | 5.7% | 6.5% | 7.6% | 8.0% | 8.0% | 2.9% | 1.8% | 1.8% | 5.1% | 5.8% | 5.6% | 5.4% | 5.4% | 6.3% | 7.0% |
| EBIT | $8.24M | $9.03M | $7.45M | $12.07M | $19.09M | $24.25M | $28.63M | $-5.25M | $-15.51M | $-14.48M | $16.77M | $27.75M | $28.33M | $30.16M | $31.67M | $46.98M | $61.99M |
| Interest expense | $1.15M | $967551.00 | $669125.00 | $568501.00 | $2.17M | $2.50M | $2.99M | $3.04M | $3.79M | $4.56M | $4.95M | $2.05M | $2.27M | $2.37M | $3.30M | $4.18M | $3.06M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $3.54M | $4.41M | $3.50M | $6.65M | $10.55M | $13.47M | $16.20M | $11.47M | $6.89M | $12.66M | $9.42M | $20.01M | $20.58M | $21.36M | $23.24M | $33.94M | $46.44M |
| Net income growth (YoY) | — | +24.6% | -20.5% | +89.8% | +58.7% | +27.7% | +20.3% | -29.2% | -39.9% | +83.7% | -25.6% | +112.5% | +2.9% | +3.8% | +8.8% | +46.0% | +36.9% |
| Profit margin | 1.7% | 1.9% | 1.3% | 2.0% | 2.5% | 2.6% | 2.6% | 1.6% | 0.9% | 1.5% | 1.0% | 1.9% | 1.9% | 2.0% | 2.0% | 2.7% | 3.5% |