Symbols / NGVC Stock $26.41 -4.86% Natural Grocers by Vitamin Cottage, Inc.

Consumer Defensive • Grocery Stores • United States • NYQ
NGVC (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Consumer Defensive
Industry Grocery Stores
CEO —
Exch · Country NYQ · United States
Market Cap 608.51M
Enterprise Value 941.14M
Income 47.84M
Sales 1.34B
FCF (ttm) 43.80M
Book/sh 9.25
Cash/sh 1.01
Employees 3,455
Insider 10d —
IPO Jul 25, 2012
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 24.76%
P/E 12.70
Forward P/E 11.84
PEG 1.44
P/S 0.46
P/B 2.85
P/C —
EV/EBITDA 9.69
EV/Sales 0.70
Quick Ratio 0.21
Current Ratio 1.07
Debt/Eq 147.70
LT Debt/Eq —
EPS (ttm) 2.08
EPS next Y 2.23
EPS Growth 14.00%
Revenue Growth 1.60%
EPS Gr Q/Q 14.00%
Rev Gr Q/Q —
Earnings (next) 2026-08-06
Earnings (prior) 2026-05-07
ROA 6.01%
ROE 23.81%
ROIC —
Gross Margin 33.65%
Oper. Margin 4.38%
Profit Margin 3.58%
Shs Outstand 23.04M
Shs Float 10.56M
Insider Own 43.85%
Instit Own 39.47%
Short Float 6.20%
Short Ratio 4.65
Short Interest 596.27K
52W High 61.22
vs 52W High -56.86%
52W Low 23.47
vs 52W Low 12.53%
Beta 1.31
Impl. Vol. 3.11%
Rel Volume 1.35
Avg Volume 137.58K
Volume 185.55K
Target (mean) $43.33
Tgt Median $40.00
Tgt Low $36.00
Tgt High $54.00
# Analysts 3
Recom None
Prev Close $27.76
Price $26.41
Change -4.86%
About

Natural Grocers by Vitamin Cottage, Inc., together with its subsidiaries, retails natural and organic groceries, and dietary supplements in the United States. The company's stores offer natural and organic grocery products, such as organic produce; private label repackaged bulk products, including dried fruits, nuts, grains, granolas, teas, herbs, and spices, as well as peanut and almond butters; private label products comprising grocery staples, household products, bulk foods, and vitamins and dietary supplements, as well as organic eggs, organic flavored coffee, and organic mustard; dry, frozen, and canned groceries; meat and seafood products; dairy products, dairy substitutes, and eggs; prepared foods; bread and baked products; beverages; and beer, wine, and hard cider products. Its stores also provide name-brand supplements, as well as private label dietary supplements; body care products consisting of cosmetics, skin care, hair care, fragrance, and personal care products containing natural and organic ingredients; pet care and food products; household and general merchandise, including cleaning supplies, paper products, and dish and laundry soaps, as well as other common household products, such as diapers; and books and handouts. The company operates its retail stores under the Natural Grocers, Vitamin Cottage, Health Hotline, Natural Grocers by Vitamin Cottage trademark, as well as Vitamin Cottage Natural Grocers and Health Hotline trademarks. The company also offers science-based nutrition education programs to help customers make informed health and nutrition choices. The company was formerly known as Vitamin Cottage Natural Food Markets, Inc. Natural Grocers by Vitamin Cottage, Inc. was founded in 1955 and is headquartered in Lakewood, Colorado.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$43.33
Mean price target
2. Current target
$26.41
Latest analyst target
3. DCF / Fair value
$34.22
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$26.41
Low
$36.00
High
$54.00
Mean
$43.33

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-13 init Freedom Broker — → Buy $36
2020-10-09 init Wolfe Research — → Outperform $14
2018-09-18 main Citigroup Buy → Buy $20
2018-08-08 main Citigroup Buy → Buy $19
2018-06-12 main Citigroup Buy → Buy $13
2018-01-31 up RBC Capital Sector Perform → Outperform —
2017-11-17 main Deutsche Bank — → Hold $6
2017-08-14 main Citigroup — → Buy $8
2017-02-03 down SunTrust Robinson Humphrey Buy → Hold —
2017-01-31 down Jefferies Buy → Hold —
2016-10-11 init Citigroup — → Buy —
2016-09-30 main Jefferies — → Buy $15
2016-09-23 init Barclays — → Equal-Weight $12
2016-05-19 main Jefferies — → Buy $19
2016-04-21 down RBC Capital Outperform → Sector Perform —
2016-02-10 init Deutsche Bank — → Hold $20
2015-11-20 main SunTrust Robinson Humphrey — → Buy $30
2015-08-26 init Jefferies — → Buy $31
2015-08-04 up Wedbush Underperform → Neutral $24
2015-06-05 up Stephens & Co. Equal-Weight → Overweight —
News
RSS: Latest NGVC news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-05 BUFFA SANDRA M Director — 1,532 — —
2026-03-05 CERKOVNIK EDWARD Director — 1,532 — —
2026-03-05 ROONEY DAVID C. Director — 1,532 — —
2025-11-03 ISELY RAQUEL M Beneficial Owner of more than 10% of a Class of Security — 4,000 — —
2025-11-03 LINNANE ROBERT Beneficial Owner of more than 10% of a Class of Security — 2,000 — —
2025-10-01 ISELY RAQUEL M Beneficial Owner of more than 10% of a Class of Security — 480 — —
2025-08-25 ISELY LARK Beneficial Owner of more than 10% of a Class of Security — 500 $41.00 $20,500
2025-08-19 ISELY LARK Beneficial Owner of more than 10% of a Class of Security — 2,000 $40.00 $80,000
2025-06-11 ISELY LARK Beneficial Owner of more than 10% of a Class of Security — 2,000 $44.26 $88,520
2025-03-06 BUFFA SANDRA M Director — 3,736 — —
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Total Revenue
1,330.84
+7.19%
1,241.59
+8.86%
1,140.57
+4.68%
1,089.62
Operating Revenue
1,330.84
+7.19%
1,241.59
+8.86%
1,140.57
+4.68%
1,089.62
Cost Of Revenue
932.96
+6.41%
876.77
+7.76%
813.64
+3.68%
784.74
Reconciled Cost Of Revenue
932.08
+6.42%
875.85
+7.85%
812.11
+3.49%
784.74
Gross Profit
397.88
+9.06%
364.81
+11.59%
326.93
+7.23%
304.88
Operating Expense
334.84
+5.93%
316.11
+7.79%
293.25
+7.18%
273.62
Selling General And Administration
41.43
+11.82%
37.05
+7.80%
34.37
+8.88%
31.56
General And Administrative Expense
41.43
+11.82%
37.05
+7.80%
34.37
+8.88%
31.56
Other Gand A
41.43
+11.82%
37.05
+7.80%
34.37
+8.88%
31.56
Other Operating Expenses
262.49
+5.39%
249.06
+7.58%
231.51
-4.36%
242.06
Total Expenses
1,267.80
+6.28%
1,192.89
+7.77%
1,106.89
+4.59%
1,058.36
Operating Income
63.03
+29.43%
48.70
+44.61%
33.68
+7.72%
31.26
Total Operating Income As Reported
61.99
+31.96%
46.98
+48.34%
31.67
+5.02%
30.16
EBITDA
93.80
+20.41%
77.91
+28.61%
60.58
+4.33%
58.06
Normalized EBITDA
94.85
+19.11%
79.63
+27.24%
62.58
+5.77%
59.17
Reconciled Depreciation
31.81
+2.86%
30.93
+7.00%
28.91
+3.58%
27.91
EBIT
61.99
+31.96%
46.98
+48.34%
31.67
+5.02%
30.16
Total Unusual Items
-1.04
+39.43%
-1.72
+14.20%
-2.01
-81.30%
-1.11
Total Unusual Items Excluding Goodwill
-1.04
+39.43%
-1.72
+14.20%
-2.01
-81.30%
-1.11
Special Income Charges
-1.04
+39.43%
-1.72
+14.20%
-2.01
-81.30%
-1.11
Other Special Charges
1.04
-39.43%
1.72
-14.20%
2.01
+81.30%
1.11
Restructuring And Mergern Acquisition
—
1.72
-14.20%
2.01
+81.30%
1.11
Net Income
46.44
+36.86%
33.94
+46.00%
23.24
+8.79%
21.36
Pretax Income
58.93
+37.68%
42.80
+50.87%
28.37
+2.11%
27.78
Net Non Operating Interest Income Expense
-3.06
+26.65%
-4.18
-26.58%
-3.30
-39.14%
-2.37
Interest Expense Non Operating
3.06
-26.65%
4.18
+26.58%
3.30
+39.14%
2.37
Net Interest Income
-3.06
+26.65%
-4.18
-26.58%
-3.30
-39.14%
-2.37
Interest Expense
3.06
-26.65%
4.18
+26.58%
3.30
+39.14%
2.37
Other Income Expense
-1.04
+39.43%
-1.72
+14.20%
-2.01
-81.30%
-1.11
Tax Provision
12.48
+40.80%
8.87
+72.93%
5.13
-20.13%
6.42
Tax Rate For Calcs
0.00
+2.42%
0.00
+14.36%
0.00
-21.65%
0.00
Tax Effect Of Unusual Items
-0.22
+37.97%
-0.36
+1.88%
-0.36
-42.06%
-0.26
Net Income Including Noncontrolling Interests
46.44
+36.86%
33.94
+46.00%
23.24
+8.79%
21.36
Net Income From Continuing Operation Net Minority Interest
46.44
+36.86%
33.94
+46.00%
23.24
+8.79%
21.36
Net Income From Continuing And Discontinued Operation
46.44
+36.86%
33.94
+46.00%
23.24
+8.79%
21.36
Net Income Continuous Operations
46.44
+36.86%
33.94
+46.00%
23.24
+8.79%
21.36
Normalized Income
47.27
+33.90%
35.30
+41.84%
24.89
+12.02%
22.22
Net Income Common Stockholders
46.44
+36.86%
33.94
+46.00%
23.24
+8.79%
21.36
Diluted EPS
2.00
+36.05%
1.47
+44.12%
1.02
+8.51%
0.94
Basic EPS
2.02
+35.57%
1.49
+46.08%
1.02
+8.51%
0.94
Basic Average Shares
22.94
+0.71%
22.77
+0.22%
22.73
+0.26%
22.67
Diluted Average Shares
23.26
+0.74%
23.08
+1.09%
22.83
+0.08%
22.82
Diluted NI Availto Com Stockholders
46.44
+36.86%
33.94
+46.00%
23.24
+8.79%
21.36
Depreciation Amortization Depletion Income Statement
30.93
+3.08%
30.01
+9.61%
27.38
—
Depreciation And Amortization In Income Statement
30.93
+3.08%
30.01
+9.61%
27.38
—
Line Item Trend 2023-09-30
Total Assets
669.18
Current Assets
152.55
Cash Cash Equivalents And Short Term Investments
18.34
Cash And Cash Equivalents
18.34
Receivables
10.80
Accounts Receivable
10.80
Gross Accounts Receivable
11.00
Allowance For Doubtful Accounts Receivable
-0.20
Inventory
119.26
Finished Goods
119.26
Prepaid Assets
—
Other Current Assets
4.15
Total Non Current Assets
516.63
Net PPE
502.11
Gross PPE
761.74
Accumulated Depreciation
-259.63
Properties
0.00
Land And Improvements
8.86
Buildings And Improvements
46.41
Machinery Furniture Equipment
184.79
Construction In Progress
15.22
Other Properties
333.05
Leases
173.41
Goodwill And Other Intangible Assets
14.13
Goodwill
5.20
Other Intangible Assets
8.93
Non Current Deferred Assets
0.21
Non Current Prepaid Assets
0.19
Other Non Current Assets
0.00
Total Liabilities Net Minority Interest
498.34
Current Liabilities
154.03
Payables And Accrued Expenses
111.87
Payables
90.52
Accounts Payable
80.67
Current Accrued Expenses
21.35
Total Tax Payable
9.84
Current Debt And Capital Lease Obligation
40.29
Current Debt
1.75
Other Current Borrowings
1.75
Current Capital Lease Obligation
38.54
Current Deferred Liabilities
1.87
Current Deferred Revenue
1.87
Total Non Current Liabilities Net Minority Interest
344.31
Long Term Debt And Capital Lease Obligation
329.89
Long Term Debt
5.94
Long Term Capital Lease Obligation
323.95
Non Current Deferred Liabilities
14.43
Non Current Deferred Taxes Liabilities
14.43
Stockholders Equity
170.84
Common Stock Equity
170.84
Capital Stock
0.02
Common Stock
0.02
Share Issued
22.75
Ordinary Shares Number
22.74
Treasury Shares Number
0.01
Additional Paid In Capital
59.01
Retained Earnings
111.87
Treasury Stock
0.07
Total Equity Gross Minority Interest
170.84
Total Capitalization
176.78
Working Capital
-1.48
Invested Capital
178.53
Total Debt
370.18
Net Debt
—
Capital Lease Obligations
362.49
Net Tangible Assets
156.71
Tangible Book Value
156.71
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Operating Cash Flow
55.30
-25.02%
73.76
+14.17%
64.61
+62.76%
39.69
Cash Flow From Continuing Operating Activities
55.30
-25.02%
73.76
+14.17%
64.61
+62.76%
39.69
Net Income From Continuing Operations
46.44
+36.86%
33.94
+46.00%
23.24
+8.79%
21.36
Depreciation Amortization Depletion
31.81
+2.86%
30.93
+7.00%
28.91
+3.58%
27.91
Depreciation And Amortization
31.81
+2.86%
30.93
+7.00%
28.91
+3.58%
27.91
Other Non Cash Items
0.01
+107.69%
-0.14
-852.63%
0.02
-13.64%
0.02
Stock Based Compensation
3.96
+39.98%
2.83
+108.01%
1.36
+14.67%
1.19
Asset Impairment Charge
0.08
-96.15%
2.10
+65.77%
1.27
-56.58%
2.92
Deferred Tax
-2.61
+34.06%
-3.96
-168.14%
-1.48
-342.20%
0.61
Deferred Income Tax
-2.61
+34.06%
-3.96
-168.14%
-1.48
-342.20%
0.61
Operating Gains Losses
-0.03
-440.00%
0.01
-97.36%
0.38
+385.90%
0.08
Gain Loss On Sale Of PPE
-0.03
-440.00%
0.01
-97.36%
0.38
+385.90%
0.08
Change In Working Capital
-24.36
-402.58%
8.05
-26.17%
10.91
+175.77%
-14.39
Change In Receivables
-1.01
+34.01%
-1.54
-321.93%
0.69
+119.23%
-3.60
Changes In Account Receivables
-0.41
+77.04%
-1.79
-668.25%
0.32
+110.60%
-2.97
Change In Inventory
-12.30
-770.82%
-1.41
+74.35%
-5.50
+58.33%
-13.21
Change In Prepaid Assets
-5.52
-416.00%
-1.07
-735.16%
-0.13
+87.51%
-1.02
Change In Payables And Accrued Expense
-4.70
-136.63%
12.82
-23.12%
16.68
+2702.86%
0.59
Change In Accrued Expense
1.39
-50.09%
2.78
-56.01%
6.33
+4175.00%
0.15
Change In Payable
-6.09
-160.62%
10.04
-3.00%
10.35
+2215.44%
0.45
Change In Account Payable
-6.09
-160.62%
10.04
-3.00%
10.35
+2215.44%
0.45
Change In Other Current Assets
33.59
+0.44%
33.45
+1.15%
33.07
+3.67%
31.89
Change In Other Current Liabilities
-34.43
-0.69%
-34.20
-0.88%
-33.90
-16.72%
-29.04
Investing Cash Flow
-30.97
+19.76%
-38.60
-1.71%
-37.95
-21.86%
-31.14
Cash Flow From Continuing Investing Activities
-30.97
+19.76%
-38.60
-1.71%
-37.95
-21.86%
-31.14
Net PPE Purchase And Sale
-31.11
+17.05%
-37.50
-2.86%
-36.46
-30.14%
-28.02
Purchase Of PPE
-31.20
+16.89%
-37.54
-2.66%
-36.57
-30.42%
-28.04
Sale Of PPE
0.09
+151.35%
0.04
-65.42%
0.11
+409.52%
0.02
Capital Expenditure
-31.38
+18.88%
-38.68
-1.54%
-38.09
-21.15%
-31.44
Net Intangibles Purchase And Sale
-0.18
+84.37%
-1.14
+25.31%
-1.52
+55.23%
-3.41
Purchase Of Intangibles
-0.18
+84.37%
-1.14
+25.31%
-1.52
+55.23%
-3.41
Net Other Investing Changes
0.32
+632.56%
0.04
+19.44%
0.04
-87.14%
0.28
Financing Cash Flow
-16.09
+63.95%
-44.63
-119.28%
-20.35
-0.81%
-20.19
Cash Flow From Continuing Financing Activities
-16.09
+63.95%
-44.63
-119.28%
-20.35
-0.81%
-20.19
Net Issuance Payments Of Debt
-3.83
+66.14%
-11.30
-4.81%
-10.78
-0.56%
-10.72
Issuance Of Debt
666.20
+10.26%
604.20
+13.76%
531.10
+311.71%
129.00
Repayment Of Debt
-670.02
-8.86%
-615.50
-13.59%
-541.88
-287.83%
-139.72
Long Term Debt Issuance
—
—
0.00
0.00
Long Term Debt Payments
-3.83
+66.14%
-11.30
-4.81%
-10.78
-0.56%
-10.72
Net Long Term Debt Issuance
-3.83
+66.14%
-11.30
-4.81%
-10.78
-0.56%
-10.72
Short Term Debt Issuance
666.20
+10.26%
604.20
+13.76%
531.10
+311.71%
129.00
Short Term Debt Payments
-666.20
-10.26%
-604.20
-13.76%
-531.10
-311.71%
-129.00
Net Short Term Debt Issuance
0.00
0.00
0.00
0.00
Net Common Stock Issuance
0.00
0.00
+100.00%
-0.18
0.00
Common Stock Payments
0.00
0.00
+100.00%
-0.18
0.00
Common Stock Dividend Paid
—
—
—
—
Cash Dividends Paid
-11.01
+65.45%
-31.87
-250.60%
-9.09
-0.24%
-9.07
Repurchase Of Capital Stock
0.00
0.00
+100.00%
-0.18
0.00
Net Other Financing Charges
-1.25
+14.52%
-1.47
-382.57%
-0.30
+24.57%
-0.40
Changes In Cash
8.24
+187.06%
-9.47
-250.26%
6.30
+154.15%
-11.64
Beginning Cash Position
8.87
-51.64%
18.34
+52.35%
12.04
-49.16%
23.68
End Cash Position
17.12
+92.94%
8.87
-51.64%
18.34
+52.35%
12.04
Free Cash Flow
23.93
-31.80%
35.08
+32.31%
26.51
+221.41%
8.25
Interest Paid Supplemental Data
3.12
-24.89%
4.16
+25.64%
3.31
+36.20%
2.43
Income Tax Paid Supplemental Data
15.91
+17.16%
13.58
+169.04%
5.05
-28.01%
7.01
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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