MARKETS / NYSE / NGVC
NYSE · RETAIL-GROCERY STORES · MID CAP

Natural Grocers by Vitamin Cottage, Inc. NGVC

15 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
$1.3B
▲ 7.2% vs FY2024
EPS · FY25
$2.00
Dividend / sh · FY25
Payout · FY25
24%
ROE · FY25
24.0%
Net margin · FY25
3.5%
Dividend coverage
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Result
USD 1.3B
Revenue, FY2025 · full 15-year series below
Revenue Net income
0.40.81.21.61.30.0201120142017202020232025
0.40.81.21.61.30.02016201920222025

3 cents of every revenue dollar became profit this year.

Per share
USD 2.00
Diluted EPS, FY2025
EPS
0.81.62.42.00201120142017202020232025
0.81.62.42.002016201920222025

The company pays no cash dividend.

Profitability
24.0%
Return on equity, FY2025
ROE
816243224.0%201120142017202020232025
816243224.0%2016201920222025
Operating margin4.7%
Net margin3.5%
Return on assets7.0%

Each USD of equity produced 24 cents of profit this year.

Returned to shareholders
USD 11.0M
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 11.0M
Net buybacksUSD 0.00
Share of profit23.7%
Consecutive raises

USD 11.0M in dividends — 24% of the year's profit went back to shareholders.

Growth
+5.1% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+6.9%
+5.1%
+7.9%
Net income
+29.5%
+18.3%
+11.1%
EPS, diluted
+28.6%
+17.6%
+10.8%
Returned to shareholders
+6.7%
+11.8%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.02B
Shares outstanding, FY2025
0.020.02201120142017202020232025
0.020.022016201920222025
Change, 5 years+1.8%
Change, 10 years+2.0%

The share count grew 2% in five years — the same company, cut into more, smaller slices.

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Balance sheet
USD 670.5M
total assets, end of FY2025
Total assetsUSD 670.5M
EquityUSD 212.4M
CashUSD 17.1M
Current ratio1.06×

Equity funds 32% of total assets.

History
15 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
Revenue $B
1.3
1.2
1.1
1.1
1.1
1.0
0.9
0.8
0.8
0.7
0.6
0.5
0.4
0.3
0.3
Operating income $B
0.1
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
EBITDA $B
0.1
0.1
0.1
0.1
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Income tax $B
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 $B
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
EPS, diluted $
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
Dividend / sh $
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Payout %
24
94
39
42
250
31
0
0
·
·
·
·
·
·
·
ROE %
24.0
19.7
14.2
14.3
13.0
12.1
6.2
9.0
5.3
9.5
15.1
14.7
13.4
10.2
·
Shares out B
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
43 of 43
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed