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Natural Grocers by Vitamin Cottage, Inc. NGVC

NYSE · stock · Retail-Grocery Stores · website · IPO 2012-07-25 · LEI

Natural Grocers by Vitamin Cottage, Inc. statistics & valuation

Market cap$739.8M
P / E15.9×
P / S0.6×
P / B3.5×
P / FCF30.7×
Dividend yield1.49%
Net margin3.5%
Return on equity21.9%
FCF margin1.8%
Net cash$17.1M
Net debt / EBITDA-0.2×
Enterprise value USD$722.7M
EV / EBITDA7.7×
Earnings yield EBIT/EV8.6%
Return on capital12.1%
Graham number -26.1%$20.27

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($20.27); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
1.60% 0.90% 1.50% 1.00% 1.90% 1.90% 2.00% 2.00% 2.70% 3.50% 2016201720182019202020212022202320242025
Gross margin (%)
28.60% 27.60% 26.60% 26.40% 27.30% 27.70% 28.00% 28.70% 29.40% 29.90% 2016201720182019202020212022202320242025
Operating margin (%)
2.90% 1.80% 1.80% 1.90% 2.70% 2.70% 2.80% 2.80% 3.80% 4.70% 2016201720182019202020212022202320242025
Return on equity (%)
9.10% 5.10% 8.60% 6.00% 11.60% 14.40% 13.70% 13.60% 19.50% 21.90% 2016201720182019202020212022202320242025
Shares outstanding
22.5M 22.5M 22.4M 22.6M 22.6M 22.7M 22.8M 22.9M 23.1M 23.3M 2016201720182019202020212022202320242025
Net debt ($)
-$28.5M -$1.7M $1.9M -$12.4M -$8.9M -$17.1M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
4.10% 2.30% 4.10% 2.90% 2.90% 3.10% 3.20% 3.50% 5.20% 6.90% 2016201720182019202020212022202320242025
Free cash flow margin (%)
-3.50% 0.00% 2.30% 0.80% 3.80% 2.60% 1.10% 2.50% 2.90% 1.80% 2016201720182019202020212022202320242025
Debt / equity (×)
0.00× 0.15× 0.09× 0.03× 0.00× 0.00× 2016201720182019202020212022202320242025
EPS ($)
$0.51 $0.31 $0.56 $0.42 $0.89 $0.91 $0.94 $1.02 $1.47 $2.00 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Natural Grocers by Vitamin Cottage, Inc. trades at about 13.7× earnings — below its 10-year norm (10-year range 12×–32.4×, median 16×).

12× 32.4×

Shaded band = 10-year range (12×–32.4×); dot = today's 13.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin29.9%29.4%28.7%28.0%27.7%27.3%26.4%26.6%27.6%28.6%
Operating margin4.7%3.8%2.8%2.8%2.7%2.7%1.9%1.8%1.8%2.9%
Net margin3.5%2.7%2.0%2.0%1.9%1.9%1.0%1.5%0.9%1.6%
FCF margin1.8%2.9%2.5%1.1%2.6%3.8%0.8%2.3%-0.0%-3.5%
Return on assets6.9%5.2%3.5%3.2%3.1%2.9%2.9%4.1%2.3%4.1%
Return on equity21.9%19.5%13.6%13.7%14.4%11.6%6.0%8.6%5.1%9.1%
Debt / equity0.00×0.00×0.03×0.09×0.15×0.00×————
Current ratio1.060.900.991.021.011.111.381.391.511.46

Computed from company filings · US · as of 2025-09-30. Facts plus Stocktoria's own computed scores — not investment advice.