{ "ok": true, "cik": "1547459", "ticker": "NGVC", "name": "Natural Grocers by Vitamin Cottage, Inc.", "filings": [ { "form": "8-K", "filed": "2026-09-15", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1547459/000143774926030469/0001437749-26-030469-index.htm" }, { "form": "8-K", "filed": "2026-08-06", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1547459/000143774926026263/0001437749-26-026263-index.htm" }, { "form": "10-Q", "filed": "2026-08-06", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1547459/000143774926026255/0001437749-26-026255-index.htm" }, { "form": "8-K", "filed": "2026-05-07", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1547459/000143774926015580/0001437749-26-015580-index.htm" }, { "form": "10-Q", "filed": "2026-05-07", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1547459/000143774926015576/0001437749-26-015576-index.htm" }, { "form": "8-K", "filed": "2026-03-10", "items": [ "5.07 Submission of Matters to a Vote of Security Holders", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1547459/000143774926007547/0001437749-26-007547-index.htm" } ], "events12m": 7, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001547459.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1547459" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets, no buy or sell views.", "edgar": "🫧 Edgar looked up Natural Grocers by Vitamin Cottage, Inc. ($NGVC). Last filing: 8-K (5.07 Submission of Matters to a Vote of Security Holders), 2026-09-15. 7 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-09-30", "revenue": 1330836000, "revenueGrowth1y": 0.07188472798882084, "revenueGrowthPerYear": 0.05965606906427756, "yearsOfData": 5, "operatingMargin": 0.046579743860250246, "operatingMarginPrior": 0.03783631406629429, "netMargin": 0.03489836463696504, "operatingCashFlow": 55304000, "capitalSpending": 31201000, "freeCashFlow": 24103000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 17116000, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2021-09-30", "revenue": 1055516000 }, { "fiscalYearEnd": "2022-09-30", "revenue": 1089625000 }, { "fiscalYearEnd": "2023-09-30", "revenue": 1140568000 }, { "fiscalYearEnd": "2024-09-30", "revenue": 1241585000 }, { "fiscalYearEnd": "2025-09-30", "revenue": 1330836000 } ], "totalEquity": 212395000, "totalAssets": 670504000, "equityRatio": 0.31676917661937887, "returnOnEquity": 0.21866804774123685, "dividendsPaid": 11009000, "payoutRatio": 0.23703815347515286, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "range80": { "low": 1132933864.0765553, "high": 1679101151.247373, "baseline": 1424536481.9270153, "n": 4599, "band": "b1" }, "ifPaceHeld": { "low": 1132933864.0765553, "high": 1679101151.247373 } }, "edgarette": "🔖 Exposure: revenue $1.3B (FY2025). Experience: revenue up 7.2% on the year, up 6.0% a year over 4 years; operating margin 4.7%, up from 3.8%. Soundness: equity 31.7% of assets, return on equity 21.9%, payout 23.7% of profit. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $1.1B and $1.7B next year (method v3, set from 4,599 SEC company-years; on a year the method never saw, 83% landed inside). A range, not a forecast. Against peers (10 filers, $50M+ revenue, retail-grocery stores): operating margin 4.7% against a 2.3% median; growth 7.2% against 4.4%.", "peers": { "sic": 5411, "sicDescription": "Retail-Grocery Stores", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "5411", "growth": [ 0.044, 10 ], "opMargin": [ 0.0225, 10 ], "equityRatio": [ 0.3332, 10 ], "returnOnEquity": [ 0.098, 10 ] }, "summary": "Natural Grocers by Vitamin Cottage (NGVC) grew revenue 7.2% in FY2025 to $1.3 billion, operating margin 4.7% against a 2.3% median for retail-grocery stores, equity 31.7% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Natural Grocers by Vitamin Cottage, Inc. against its own record and its peers
Operating marginPeer median 2.3%4.7%Revenue, on the yearPeer median 4.4%7.2%Equity of assetsPeer median 33.3%31.7%Return on equityPeer median 9.8%21.9%Payout of profit23.7%Gold tick: the median of 10–10 peers with $50M+ revenue in retail-grocery stores
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit23.7% paid out76.3% keptGrowth its own profit can fund16.7%retained x return on equityRevenue growth it managed7.2%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 10, "hits": 10, "rate": 1, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T13:12:41.857Z", "hash": "9052171d3208f98a", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Natural Grocers by Vitamin Cottage (NGVC) grew revenue 7.2% in FY2025 to $1.3 billion, operating margin 4.7% against a 2.3% median for retail-grocery stores, equity 31.7% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-09-30", "revenue": 1330836000, "totalDebt": null, "cash": 17116000 }, "experience": { "revenueGrowth1y": 0.07188472798882084, "revenueGrowthPerYear": 0.05965606906427756, "operatingMargin": 0.046579743860250246, "operatingMarginPrior": 0.03783631406629429, "netMargin": 0.03489836463696504, "freeCashFlow": 24103000 }, "soundness": { "equityRatio": 0.31676917661937887, "returnOnEquity": 0.21866804774123685, "payoutRatio": 0.23703815347515286, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 5411, "sicDescription": "Retail-Grocery Stores", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "5411", "growth": [ 0.044, 10 ], "opMargin": [ 0.0225, 10 ], "equityRatio": [ 0.3332, 10 ], "returnOnEquity": [ 0.098, 10 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "range": { "low": 1132933864.0765553, "high": 1679101151.247373, "baseline": 1424536481.9270153, "coverage": 0.8, "method": "v3", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); range = 10th to 90th percentile of how SEC company-years of the same size band actually turned out", "calibratedOn": { "companyYears": 4599, "sizeBand": "b1" }, "kind": "a calibrated range, not a forecast; no view on the share price", "track": { "backtest": { "tests": 10, "hits": 10, "rate": 1, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T13:12:41.857Z", "hash": "9052171d3208f98a", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001547459.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1547459" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }