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Employees: 4,250
Size Natural Grocers by Vitamin Cottage (NGVC) is a United States Consumer Staples company (Food Retail) with a market value of $659M, the 2529th largest of 3,117 United States companies the cockpit tracks. Shares closed at $28.61 on 6 Nov 2026.
Performance Over six months the shares gained 8.3%, against -7.9% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 2.0% over the last twelve months (peer median +0.4%); the operating margin is 4.7% (peer median 2.7%).
Valuation It trades at 12.9× forward earnings against a peer median of 15.1× (4th cheapest of 12).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +5 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.0 points below its cost of capital (9.2% WACC).
Short interest Short interest is 4.3% of the free float (15 Oct 2026).
Next results Next results expected around 19 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.34B | $1.33B | $1.24B | $1.14B | $1.09B |
| Revenue growth | — | +7% | +9% | +5% | — |
| Gross profit | $367M | $367M | $335M | $299M | $278M |
| EBITDA | $97.6M | $96.4M | $83.6M | $65.2M | $62.5M |
| Net income | $47.6M | $46.4M | $33.9M | $23.2M | $21.4M |
| Free cash flow | $22.7M | $24.1M | $36.2M | $28.0M | $11.7M |
| Capital expenditure | $48.5M | $31.4M | $38.7M | $38.1M | $31.4M |
| Total debt | $323M | $332M | $347M | $370M | $393M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NGVC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.9% | +0.8% | 6th lowest of 21 |
| 6-month return | +8.3% | -7.9% | 3rd highest of 21 |
| Distance from 52-week high | -17.3% | -27.4% | 5th highest of 21 |
| Revenue growth (TTM) | +2.0% | +0.4% | 10th highest of 21 |
| Operating margin | 4.7% | 2.7% | 5th highest of 21 |
| Forward P/E | 12.9× | 15.1× | 4th cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | 10.6% | -3.2% | 3rd most demanding of 17 |
| Growth delivered (Del g) | +5.1% | +2.2% | 6th highest of 17 |
| Hurdle (Req g minus delivered) | +5.5 pp | -5.3 pp | 5th most demanding of 17 |
| ROIC minus cost of capital | -0.0 pp | +1.3 pp | 8th lowest of 21 |
| EV / EBITDA | 9.9× | 5.7× | most expensive of 8 |
| Net debt / EBITDA | 3.1× | 1.0× | 4th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Natural Grocers by Vitamin Cottage NGVC | United States | $659M | +8% | +2% | 5% | 12.9× | 10.6% | +5.1% |
| Maxvalu Tokai 8198.T | Japan | $621M | -10% | +1% | 3% | n/a | -20.0% | +1.6% |
| Aeon Hokkaido 7512.T | Japan | $719M | -4% | +3% | 2% | n/a | n/a | n/a |
| Bestore 603719.SS | China | $587M | -11% | 0% | 0% | 140.6× | 6.3% | -7.0% |
| Heiwado 8276.T | Japan | $749M | -2% | +2% | 3% | 13.3× | -3.8% | +0.7% |
| Village Super Market VLGEA | United States | $551M | -8% | +4% | 3% | n/a | -2.5% | +3.5% |
| Yinchuan Xinhua Commercial 600785.SS | China | $540M | -8% | -2% | 4% | 21.8× | 2.7% | +0.9% |
| Liqun Commercial 601366.SS | China | $528M | -9% | -25% | -4% | n/a | 2.9% | -4.2% |
| Sanjiang Shopping Club 601116.SS | China | $833M | -26% | -7% | 3% | n/a | n/a | n/a |
| Zhongbai 000759.SZ | China | $521M | 0% | -22% | -11% | n/a | n/a | n/a |
| WH Smith SMWH.L | United Kingdom | $851M | -10% | -31% | 8% | 11.0× | 9.1% | +8.8% |
| BELC 9974.T | Japan | $852M | -8% | +5% | 4% | 10.7× | n/a | n/a |
| Axial Retailing 8255.T | Japan | $865M | +30% | +3% | 4% | 15.1× | -10.9% | +2.9% |
| Halows 2742.T | Japan | $500M | -7% | +6% | 5% | n/a | -12.8% | +8.2% |
| Jiajiayue 603708.SS | China | $874M | -12% | 0% | 2% | 25.6× | -12.7% | +1.5% |
| JM Holdings Co., Ltd. 3539.T | Japan | $493M | +12% | +7% | 5% | 10.2× | -12.4% | +8.9% |
| Jiangxi Guoguang Commercial Chains 605188.SS | China | $908M | -26% | +3% | 1% | n/a | 27.5% | +4.6% |
| ARKO ARKO | United States | $445M | -42% | -2% | 2% | 39.7× | -4.2% | +13.8% |
| United Super Markets 3222.T | Japan | $999M | -7% | +11% | 0% | n/a | 31.5% | +5.6% |
| Chengdu Hongqi Chain 002697.SZ | China | $1.01B | -5% | -1% | 5% | 14.3× | -17.5% | +1.1% |
| Toly Bread 603866.SS | China | $1.01B | -15% | -2% | 8% | 24.1× | 0.5% | -1.8% |