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Natural Grocers by Vitamin Cottage, Inc.
NGVC
$697M
Mkt Cap
$30.01
+2.25%
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a current P/E ratio of 14.6, compared to its historical median P/E of 13.9. The stock is currently considered Fair based on its historical valuation range.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a 5-year average return on invested capital (ROIC) of 17.2%. This indicates strong capital allocation and a potential competitive advantage.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a market capitalization of $691M. It is classified as a small-cap stock.
Yes, Natural Grocers by Vitamin Cottage, Inc. (NGVC) pays a dividend with a trailing twelve-month yield of 1.69%.
Based on historical P/E analysis, Natural Grocers by Vitamin Cottage, Inc. (NGVC) appears fair. The current P/E of 14.6 is 5% above its historical median of 13.9. The estimated fair value CAGR (P/E method) is 16.7%.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) operates in the Retail-Grocery Stores industry, within the Consumer Defensive sector.
PART I Natural Grocers® is an expanding specialty retailer of natural and organic groceries and dietary supplements. We focus on providing high-quality products at affordable prices, exceptional customer service, nutrition education and community outreach. We strive to generate long-term relationships with our customers based on transparency and trust by: selling only natural and organic groceries, body care products and dietary supplements that meet our strict quality guidelines - we do not approve for sale grocery products that are known to contain artificial flavors, preservatives or sweeteners, synthetic colors, or partially hydrogenated or hydrogenated oils; utilizing an efficient and flexible smaller-store format to offer affordable prices and a convenient, clean and shopper-friendly retail environment; enhancing our customers’ shopping experience by providing free science-based nutrition education to help our customers make well-informed health and nutrition choices; and incorpo
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 1.3B | 1.2B | 1.1B | 1.1B | 1.1B |
| Net Income | 48M | 46M | 34M | 23M | 21M | 21M |
| EPS | $2.06 | $2.00 | $1.47 | $1.02 | $0.94 | $0.91 |
| Free Cash Flow | 43M | 24M | 36M | 28M | 12M | 28M |
| ROIC | 25.5% | 21.7% | 17.9% | 16.2% | 14.5% | 15.7% |
| Gross Margin | 29.8% | 29.9% | 29.4% | 28.7% | 28.0% | 27.7% |
| Debt/Equity | 0.00 | 0.21 | 0.25 | 0.05 | 0.10 | 0.17 |
| Dividends/Share | $0.51 | $0.47 | $1.38 | $0.40 | $0.40 | $2.28 |
| Operating Income | 63M | 62M | 47M | 32M | 30M | 28M |
| Operating Margin | 4.7% | 4.7% | 3.8% | 2.8% | 2.8% | 2.7% |
| ROE | 21.7% | 24.0% | 19.5% | 13.6% | 13.7% | 14.4% |
| Shares Outstanding | 23M | 23M | 23M | 23M | 23M | 23M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 521M | 625M | 705M | 769M | 849M | 904M | 1.0B | 1.1B | 1.1B | 1.1B | 1.2B | 1.3B | 1.3B |
| Gross Margin | 29.1% | 29.2% | 28.6% | 27.6% | 26.6% | 26.4% | 27.3% | 27.7% | 28.0% | 28.7% | 29.4% | 29.9% | 29.8% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 24M | 29M | 20M | 14M | 15M | 17M | 28M | 28M | 30M | 32M | 47M | 62M | 63M |
| Op. Margin | 4.7% | 4.6% | 2.9% | 1.8% | 1.8% | 1.9% | 2.7% | 2.7% | 2.8% | 2.8% | 3.8% | 4.7% | 4.7% |
| Net Income | 13M | 16M | 11M | 6.9M | 13M | 9.4M | 20M | 21M | 21M | 23M | 34M | 46M | 48M |
| Net Margin | 2.6% | 2.6% | 1.6% | 0.9% | 1.5% | 1.0% | 1.9% | 1.9% | 2.0% | 2.0% | 2.7% | 3.5% | 3.6% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 16.0% | 17.5% | 9.0% | 6.1% | 12.1% | 8.9% | 14.9% | 15.7% | 14.5% | 16.2% | 17.9% | 21.7% | 25.5% |
| ROE | 13.6% | 15.1% | 9.1% | 5.1% | 8.6% | 6.0% | 11.6% | 14.4% | 13.7% | 13.6% | 19.5% | 24.0% | 21.7% |
| ROA | 7.1% | 7.7% | 4.1% | 2.3% | 4.1% | 2.9% | 2.9% | 3.1% | 3.2% | 3.5% | 5.2% | 7.0% | 7.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 32M | 41M | 29M | 41M | 43M | 37M | 67M | 54M | 40M | 65M | 74M | 55M | 74M |
| Free Cash Flow | -4.8M | 4.3M | -25M | -382K | 19M | 7.4M | 40M | 28M | 12M | 28M | 36M | 24M | 43M |
| Owner Earnings | 14M | 19M | 2.4M | 11M | 13M | 7.2M | 34M | 23M | 11M | 34M | 40M | 20M | 38M |
| CapEx | 37M | 37M | 54M | 41M | 24M | 30M | 27M | 26M | 28M | 37M | 38M | 31M | 31M |
| Maint. CapEx | 17M | 21M | 26M | 30M | 29M | 29M | 31M | 30M | 28M | 29M | 31M | 32M | 32M |
| Growth CapEx | 19M | 15M | 28M | 12M | 0 | 1.1M | 0 | 0 | 132K | 7.7M | 6.6M | 0 | 0 |
| D&A | 17M | 21M | 26M | 30M | 29M | 29M | 31M | 30M | 28M | 29M | 31M | 32M | 32M |
| CapEx/OCF | 115.0% | 89.6% | 186.5% | 100.9% | 55.3% | 80.3% | 40.2% | 48.9% | 70.6% | 56.6% | 50.9% | 56.4% | 42.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 6.3M | 51M | 9.1M | 9.1M | 32M | 11M | 12M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | 3.6% | 20.8% | 2.9% | 4.0% | 7.6% | 1.2% | 1.7% |
| Share Buybacks | 0 | 0 | 829K | 261K | 581K | 0 | 0 | 0 | 0 | 181K | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | 0.5% | 0.3% | 0.2% | N/A | N/A | N/A | N/A | 0.1% | N/A | N/A | 0.0% |
| Stock-Based Comp | 532K | 573K | 879K | 758K | 810K | 1.2M | 1.1M | 877K | 1.2M | 1.4M | 2.8M | 4.0M | 4.0M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11M | 8.0M | 8.0M | 7.7M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | 23M | 22M | 3.8M | -6.2M | -29M | 10K | 3.6M | -11M | 34M | 29M | -23M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 23M |
| Long-Term Debt | N/A | N/A | 27M | 28M | 13M | 0 | 0 | 22M | 14M | 5.9M | 43M | 46M | 46M |
| Debt/Equity | 0.91 | 1.03 | 0.22 | 0.21 | 0.09 | 0.00 | 0.00 | 0.17 | 0.10 | 0.05 | 0.25 | 0.21 | 0.00 |
| Interest Coverage | 9.7 | 9.6 | 6.7 | 3.7 | 3.3 | 3.4 | 13.5 | 12.5 | 12.7 | 9.6 | 11.2 | 20.2 | 20.2 |
| Equity | 99M | 115M | 127M | 134M | 147M | 157M | 173M | 143M | 156M | 171M | 174M | 212M | 220M |
| Total Assets | 189M | 234M | 282M | 300M | 307M | 327M | 682M | 655M | 663M | 669M | 655M | 671M | 669M |
| Total Liabilities | 90M | 118M | 156M | 166M | 160M | 170M | 509M | 512M | 507M | 498M | 481M | 458M | 449M |
| Intangibles | 1.8M | 11M | 11M | 11M | 11M | 17M | 21M | 24M | 28M | 28M | 27M | 24M | 24M |
| Retained Earnings | 44M | 60M | 72M | 79M | 92M | 101M | 116M | 85M | 98M | 112M | 114M | 149M | 149M |
| Working Capital | 17M | 12M | 31M | 37M | 31M | 32M | 14M | 1.9M | 2.9M | -1.5M | -17M | 9.3M | 9.3M |
| Current Assets | 67M | 82M | 97M | 108M | 111M | 115M | 143M | 136M | 141M | 153M | 147M | 168M | 168M |
| Current Liabilities | 50M | 70M | 67M | 72M | 80M | 83M | 129M | 134M | 138M | 154M | 164M | 159M | 159M |
| Per Share Data | |||||||||||||
| EPS | 0.60 | 0.72 | 0.51 | 0.31 | 0.56 | 0.42 | 0.89 | 0.91 | 0.94 | 1.02 | 1.47 | 2.00 | 2.06 |
| Owner EPS | 0.62 | 0.85 | 0.11 | 0.48 | 0.56 | 0.32 | 1.52 | 1.03 | 0.47 | 1.51 | 1.73 | 0.84 | 1.65 |
| Book Value | 4.40 | 5.13 | 5.63 | 6.02 | 6.49 | 7.00 | 7.70 | 6.31 | 6.86 | 7.50 | 7.55 | 9.15 | 9.55 |
| Cash Flow/Share | 1.41 | 1.82 | 1.28 | 1.84 | 1.90 | 1.67 | 2.96 | 2.38 | 1.75 | 2.84 | 3.20 | 2.38 | 3.46 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.28 | 2.28 | 0.40 | 0.40 | 1.38 | 0.47 | 0.51 |
| Shares Out. | 22.5M | 22.5M | 22.5M | 22.2M | 22.6M | 22.4M | 22.5M | 22.6M | 22.7M | 22.8M | 23.1M | 23.2M | 23.0M |
| Valuation | |||||||||||||
| P/E Ratio | 20.5 | 22.6 | 15.3 | 12.5 | 21.6 | 17.5 | 7.9 | 10.4 | 10.6 | 11.3 | 18.7 | 18.7 | 14.6 |
| P/FCF | N/A | 86.0 | N/A | N/A | 14.2 | 22.4 | 4.0 | 7.8 | 19.5 | 9.3 | 17.5 | 36.0 | 16.2 |
| EV/EBIT | N/A | N/A | 9.7 | 7.7 | 18.4 | 9.5 | 4.7 | 7.6 | 7.7 | 7.9 | 14.2 | 14.5 | 10.6 |
| Price/Book | 2.8 | 3.2 | 1.4 | 0.6 | 1.9 | 1.1 | 0.9 | 1.5 | 1.5 | 1.5 | 3.6 | 4.1 | 3.1 |
| Price/Sales | 1.0 | 0.6 | 0.4 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.2 | 0.3 | 0.7 | 0.5 |
| FCF Yield | -1.7% | 1.2% | -14.2% | -0.4% | 7.0% | 4.5% | 25.1% | 12.8% | 5.1% | 10.7% | 5.7% | 2.8% | 6.2% |
| Market Cap | 277M | 366M | 175M | 86M | 273M | 165M | 158M | 214M | 227M | 262M | 634M | 869M | 691M |
| Avg. Price | 22.60 | 17.64 | 12.38 | 7.20 | 7.25 | 9.49 | 7.82 | 10.94 | 13.56 | 10.02 | 18.23 | 39.81 | 30.01 |
| Year-End Price | 12.32 | 16.26 | 7.79 | 3.88 | 12.07 | 7.36 | 7.04 | 9.48 | 10.00 | 11.49 | 27.48 | 37.41 | 30.01 |
Natural Grocers by Vitamin Cottage, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
Natural Grocers by Vitamin Cottage, Inc. trades at 14.6x trailing earnings, compared to its 15-year median P/E of 13.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 16.2x vs a median of 15.9x. The company's 5-year average ROIC is 17.2% with a gross margin of 28.7%. Total shareholder yield (dividends) is 1.7%. At current prices, the estimated annualized return to fair value is +5.4%.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) reported annual revenue of $1.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a net profit margin of 3.5%. This is a modest margin.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) generated $24 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a debt-to-equity ratio of 0.21. This indicates a conservatively financed balance sheet.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) reported earnings per share (EPS) of $2.00 in its most recent fiscal year.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a return on equity (ROE) of 24.0%. This indicates the company generates strong returns for shareholders.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a 5-year average gross margin of 28.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 13 years of financial data for Natural Grocers by Vitamin Cottage, Inc. (NGVC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a book value per share of $9.15, based on its most recent annual SEC filing.