# Natural Grocers by Vitamin Cottage, Inc.: overview

NGVC · NYSE · CIK 1547459 · [Consumer staples](/sectors/consumer-staples.md) · fiscal year ends Sep 30

Pages: [Overview](/companies/ngvc.md) · [Financials](/companies/ngvc/financials.md) · [Filings](/companies/ngvc/filings.md) · [Insiders](/companies/ngvc/insiders.md)

Latest reported revenue: [$334.7m](/filings/0001437749-26-026255.md) for Q3 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001437749-26-026255).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-09-30) | Q1 FY2025 (2024-12-31) | Q2 FY2025 (2025-03-31) | Q3 FY2025 (2025-06-30) | Q4 FY2025 (2025-09-30) | Q1 FY2026 (2025-12-31) | Q2 FY2026 (2026-03-31) | Q3 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [323 d](/filings/0001437749-25-037556.md) | [330](/filings/0001437749-26-003196.md) | [336](/filings/0001437749-26-015576.md) | [329](/filings/0001437749-26-026255.md) | [336 d](/filings/0001437749-25-037556.md) | [336](/filings/0001437749-26-003196.md) | [337](/filings/0001437749-26-015576.md) | [335](/filings/0001437749-26-026255.md) |
| Gross margin | % | [29.6% d](/filings/0001437749-25-037556.md) | [29.9%](/filings/0001437749-26-003196.md) | [30.3%](/filings/0001437749-26-015576.md) | [29.9%](/filings/0001437749-26-026255.md) | [29.5% d](/filings/0001437749-25-037556.md) | [29.5%](/filings/0001437749-26-003196.md) | [30.4%](/filings/0001437749-26-015576.md) | [29.3%](/filings/0001437749-26-026255.md) |
| Operating margin | % | [3.7% d](/filings/0001437749-25-037556.md) | [4.0%](/filings/0001437749-26-003196.md) | [5.2%](/filings/0001437749-26-015576.md) | [4.7%](/filings/0001437749-26-026255.md) | [4.6% d](/filings/0001437749-25-037556.md) | [4.4%](/filings/0001437749-26-003196.md) | [5.4%](/filings/0001437749-26-015576.md) | [4.5%](/filings/0001437749-26-026255.md) |
| Net margin | % | [2.8% d](/filings/0001437749-25-037556.md) | [3.0%](/filings/0001437749-26-026255.md) | [3.9%](/filings/0001437749-26-026255.md) | [3.5%](/filings/0001437749-26-026255.md) | [3.5% d](/filings/0001437749-25-037556.md) | [3.4%](/filings/0001437749-26-026255.md) | [4.0%](/filings/0001437749-26-026255.md) | [3.3%](/filings/0001437749-26-026255.md) |
| Diluted EPS | $ per share | not reported | [0.43](/filings/0001437749-26-003196.md) | [0.56](/filings/0001437749-26-015576.md) | [0.50](/filings/0001437749-26-026255.md) | not reported | [0.49](/filings/0001437749-26-003196.md) | [0.58](/filings/0001437749-26-015576.md) | [0.48](/filings/0001437749-26-026255.md) |
| Free cash flow | $m | [18.0 d](/filings/0001437749-25-037556.md) | [(6.9)](/filings/0001437749-26-003196.md) | [27.6 d](/filings/0001437749-26-015576.md) | [(4.2) d](/filings/0001437749-26-026255.md) | [7.6 d](/filings/0001437749-25-037556.md) | [11.6](/filings/0001437749-26-003196.md) | [2.3 d](/filings/0001437749-26-015576.md) | [1.3 d](/filings/0001437749-26-026255.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-09-30) | FY2022 (2022-09-30) | FY2023 (2023-09-30) | FY2024 (2024-09-30) | FY2025 (2025-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,056](/filings/0001437749-23-033880.md) | [1,090](/filings/0001437749-24-037351.md) | [1,141](/filings/0001437749-25-037556.md) | [1,242](/filings/0001437749-25-037556.md) | [1,331](/filings/0001437749-25-037556.md) |
| Gross margin | % | [27.7%](/filings/0001437749-23-033880.md) | [28.0%](/filings/0001437749-24-037351.md) | [28.7%](/filings/0001437749-25-037556.md) | [29.4%](/filings/0001437749-25-037556.md) | [29.9%](/filings/0001437749-25-037556.md) |
| Operating margin | % | [2.7%](/filings/0001437749-23-033880.md) | [2.8%](/filings/0001437749-24-037351.md) | [2.8%](/filings/0001437749-25-037556.md) | [3.8%](/filings/0001437749-25-037556.md) | [4.7%](/filings/0001437749-25-037556.md) |
| Net margin | % | [1.9%](/filings/0001437749-23-033880.md) | [2.0%](/filings/0001437749-24-037351.md) | [2.0%](/filings/0001437749-25-037556.md) | [2.7%](/filings/0001437749-25-037556.md) | [3.5%](/filings/0001437749-25-037556.md) |
| Diluted EPS | $ per share | [0.91](/filings/0001437749-23-033880.md) | [0.94](/filings/0001437749-24-037351.md) | [1.02](/filings/0001437749-25-037556.md) | [1.47](/filings/0001437749-25-037556.md) | [2.00](/filings/0001437749-25-037556.md) |
| Free cash flow | $m | [27.5](/filings/0001437749-23-033880.md) | [11.7](/filings/0001437749-24-037351.md) | [28.0](/filings/0001437749-25-037556.md) | [36.2](/filings/0001437749-25-037556.md) | [24.1](/filings/0001437749-25-037556.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/ngvc/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $30.8m | 991,823 |  | Added +65,475 |
| [AMERICAN CENTURY COMPANIES INC](/funds/748054.md) | 2026-06-30 | $20.2m | 652,774 |  | Added +90,738 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $20.2m | 651,746 |  | Added +7,224 |
| [ROYCE & ASSOCIATES LP](/funds/906304.md) | 2026-06-30 | $18.6m | 600,263 |  | New +600,263 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $16.6m | 534,646 |  | Reduced −10,348 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $14.6m | 472,225 |  | Reduced −123,704 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $10.5m | 337,311 |  | Reduced −70,701 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $9.4m | 304,066 |  | Added +24,730 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $9.2m | 298,071 |  | Added +113,688 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $9.2m | 295,763 |  | Added +34,429 |

## Recent filings

[All 514 filings](/companies/ngvc/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-09-15 | 21:04 ET | [8-K](/filings/0001437749-26-030469.md) | 5.07 Shareholder vote results | 0001437749-26-030469 |
| 2026-08-06 | 20:09 ET | [8-K](/filings/0001437749-26-026263.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001437749-26-026263 |
| 2026-08-06 | 20:07 ET | [10-Q](/filings/0001437749-26-026255.md) | Quarterly report, period 2026-06-30 | 0001437749-26-026255 |
| 2026-05-07 | 20:11 ET | [8-K](/filings/0001437749-26-015580.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001437749-26-015580 |
| 2026-05-07 | 20:08 ET | [10-Q](/filings/0001437749-26-015576.md) | Quarterly report, period 2026-03-31 | 0001437749-26-015576 |
| 2026-03-10 | 20:31 ET | [8-K](/filings/0001437749-26-007547.md) | 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001437749-26-007547 |
| 2026-02-05 | 21:07 ET | [8-K](/filings/0001437749-26-003198.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001437749-26-003198 |
| 2026-02-05 | 21:06 ET | [10-Q](/filings/0001437749-26-003196.md) | Quarterly report, period 2025-12-31 | 0001437749-26-003196 |
| 2026-01-22 | 21:31 ET | [DEF 14A](/filings/0001437749-26-001768.md) | Proxy statement, period 2026-03-04 | 0001437749-26-001768 |
| 2025-12-11 | 21:16 ET | [10-K](/filings/0001437749-25-037556.md) | Annual report, period 2025-09-30 | 0001437749-25-037556 |

## Latest annual report

[Form 10-K for the fiscal year ended Sep 30, 2025](/filings/0001437749-25-037556.md), filed Dec 11, 2025.

## Forecast league

Q4 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/6c04dace-7e27-4eb5-9b84-b170ab68ac0b)

## About the filer

- CIK: 1547459
- Tickers: NGVC
- Exchange: NYSE
- SIC code: 5411 Retail-Grocery Stores
- State of incorporation: DE
- Filer category: Accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:42 ET. No prices; not investment advice.