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Natural Grocers by Vitamin Cottage Inc (NGVC) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER DEFENSIVE · GROCERY STORES · DATA UPDATED 2026-09-26

Natural Grocers by Vitamin Cottage Inc (NGVC) operates in the GROCERY STORES industry and is headquartered in Lakewood, United States with about 3,455 employees. Its market capitalization is roughly $644 million. In the fiscal year ended 2025-09-30, NGVC reported $1.3B in revenue and $46M in net income.

Natural Grocers by Vitamin Cottage, Inc., together with its subsidiaries, retails natural and organic groceries, dietary supplements, and body care products in the United States.

Interactive charts & full statements → Open the NGVC valuation workbench →

NGVC Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30
Total Revenue	$1.3B	$1.3B	$1.2B	$1.1B	$1.1B	$1.1B	$1.0B	$904M	$849M	$769M	$705M	$625M	$521M	$431M	$336M	$265M	$227M	$206M
Gross Profit	$390M	$398M	$365M	$327M	$305M	$292M	$283M	$239M	$226M	$212M	$202M	$182M	$152M	$126M	$99M	$77M	$67M	$60M
Gross Margin %	29.0%	29.9%	29.4%	28.7%	28.0%	27.7%	27.3%	26.4%	26.6%	27.6%	28.6%	29.1%	29.1%	29.2%	29.4%	29.2%	29.6%	29.2%
Operating Income (EBIT)	$64M	$62M	$47M	$32M	$30M	$28M	$28M	$17M	$15M	$14M	$20M	$29M	$24M	$19M	$12M	$7M	$9M	$8M
Operating Margin %	4.8%	4.7%	3.8%	2.8%	2.8%	2.7%	2.7%	1.9%	1.8%	1.8%	2.9%	4.6%	4.7%	4.4%	3.6%	2.8%	4.0%	4.0%
Net Income	$48M	$46M	$34M	$23M	$21M	$21M	$20M	$9M	$13M	$7M	$11M	$16M	$13M	$11M	$7M	$4M	$4M	$4M
Net Margin %	3.5%	3.5%	2.7%	2.0%	2.0%	1.9%	1.9%	1.0%	1.5%	0.9%	1.6%	2.6%	2.6%	2.5%	2.0%	1.3%	1.9%	1.7%
EBITDA	$112M	$94M	$78M	$62M	$59M	$59M	$60M	$46M	$15M	$14M	$20M	$50M	$41M	$33M	$22M	$15M	$15M	$13M
Earnings Per Share (EPS)	$2.05	$2.00	$1.47	$1.02	$0.94	$0.91	$0.89	$0.42	$0.56	$0.31	$0.51	$0.72	$0.60	$0.47	$0.30	$0.16	$0.20	$0.16
Shares Outstanding (M)	23M	23M	23M	23M	23M	23M	23M	23M	22M	22M	23M	23M	22M	22M	22M	22M	22M	22M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NGVC Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$335M	$337M	$336M	$336M	$329M	$336M	$330M	$323M
Gross Profit	$98M	$95M	$99M	$99M	$98M	$102M	$99M	$95M
Gross Margin %	29.3%	28.0%	29.5%	29.5%	29.9%	30.3%	29.9%	29.5%
Operating Income (EBIT)	$15M	$19M	$15M	$16M	$16M	$18M	$13M	$12M
Operating Margin %	4.5%	5.5%	4.4%	4.6%	4.7%	5.2%	4.0%	3.7%
Net Income	$11M	$13M	$11M	$12M	$12M	$13M	$10M	$9M
Net Margin %	3.3%	4.0%	3.4%	3.5%	3.5%	3.9%	3.0%	2.8%
EBITDA	$39M	$26M	$23M	$24M	$24M	$25M	$21M	$20M
Earnings Per Share (EPS)	$0.48	$0.58	$0.49	$0.51	$0.50	$0.56	$0.43	$0.39
Shares Outstanding (M)	23M	23M	23M	23M	23M	23M	23M	23M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NGVC Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30
Cash from Operations (CFO)	$105M	$55M	$74M	$65M	$40M	$54M	$67M	$37M	$43M	$41M	$29M	$41M	$32M	$26M	$25M	$17M	$8M	$12M
Capital Expenditures (CapEx)	$48M	$31M	$39M	$38M	$31M	$28M	$30M	$33M	$24M	$41M	$54M	$37M	$37M	$40M	$25M	$20M	$12M	$9M
Free Cash Flow (FCF)	$57M	$24M	$35M	$27M	$8M	$26M	$37M	$5M	$19M	$0M	($25M)	$4M	($5M)	($14M)	$0M	($4M)	($4M)	$3M
FCF Margin %	4.2%	1.8%	2.8%	2.3%	0.8%	2.4%	3.6%	0.5%	2.3%	-0.1%	-3.5%	0.7%	-0.9%	-3.2%	-0.0%	-1.4%	-1.7%	1.3%
Dividends Paid	$13M	$11M	$32M	$9M	$9M	$51M	$6M	$6M	$6M	$6M	$0M	$0M	$0M	$0M	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NGVC Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$11M	$23M	$21M	$50M	$3M	$34M	$3M	$24M
Capital Expenditures (CapEx)	$10M	$21M	$10M	$8M	$7M	$10M	$10M	$7M
Free Cash Flow (FCF)	$2M	$2M	$12M	$42M	($4M)	$24M	($7M)	$18M
FCF Margin %	0.5%	0.6%	3.4%	12.5%	-1.3%	7.3%	-2.1%	5.6%
Dividends Paid	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$2M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NGVC Balance Sheet History

Balance sheet	2026-06-30	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30
Total Assets	$688M	$671M	$655M	$669M	$663M	$655M	$682M	$327M	$307M	$300M	$282M	$234M	$189M	$160M	$126M	$79M	$60M
Cash & Cash Equivalents	$17M	$17M	$9M	$18M	$12M	$24M	$29M	$6M	$9M	$7M	$4M	$3M	$5M	$8M	$17M	$0M	$0M
Total Liabilities	$448M	$458M	$481M	$498M	$507M	$512M	$509M	$170M	$160M	$166M	$156M	$118M	$90M	$75M	$53M	$63M	$48M
Total Debt (Short + Long-Term)	$43M	$41M	$40M	$46M	$54M	$60M	$70M	$8M	$55M	$29M	$28M	$28M	$22M	$20M	$6M	$28M	$24M
Total Shareholders' Equity	$239M	$212M	$174M	$171M	$156M	$143M	$173M	$157M	$147M	$134M	$127M	$115M	$99M	$85M	$73M	$14M	$11M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NGVC viewer.

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