# Natural Grocers by Vitamin Cottage, Inc. (NGVC) · Edgar & Edgarette company card

> 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 grocery stores, equity 31.7% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1547459 · fiscal year ended 2025-09-30 · 5 audited years read · [page](https://www.pops4.com/boards/company/NGVC) · [JSON](https://www.pops4.com/boards/company/NGVC.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $1.3B |
| Revenue growth, 1 year | 7.2% |
| Revenue growth per year | 6.0% |
| Operating margin | 4.7% (prior year 3.8%) |
| Net margin | 3.5% |
| Operating cash flow | $55M |
| Capital spending | $31M |
| Free cash flow | $24M |
| Cash | $17M |
| Long-term debt | — |
| Total assets | $671M |
| Total equity | $212M |
| Equity ÷ assets | 31.7% |
| Return on equity | 21.9% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 1.93 (grey zone)
- Piotroski F: 7 of 9 (solid)
- Health Harbor boat: New ship · no warning signs
- Cash Compass: Steady earner · steady and paying a dividend, with average cash

## Edgarette's reading

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 $1.3B and $1.5B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $1.2B to $1.6B. A statistical range, not company guidance. Against peers (10 filers, $50M+ revenue, retail-grocery stores): operating margin 4.7% against a 2.3% median; growth 7.2% against 4.4%.

## Health Watch, last 12 months

No warning filings in the window.

## Recent filings

- 8-K · filed 2026-09-15 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1547459/000143774926030469/0001437749-26-030469-index.htm)
- 8-K · filed 2026-08-06 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1547459/000143774926026263/0001437749-26-026263-index.htm)
- 10-Q · filed 2026-08-06 · [filing](https://www.sec.gov/Archives/edgar/data/1547459/000143774926026255/0001437749-26-026255-index.htm)
- 8-K · filed 2026-05-07 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1547459/000143774926015580/0001437749-26-015580-index.htm)
- 10-Q · filed 2026-05-07 · [filing](https://www.sec.gov/Archives/edgar/data/1547459/000143774926015576/0001437749-26-015576-index.htm)
- 8-K · filed 2026-03-10 · 5.07 Submission of Matters to a Vote of Security Holders; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1547459/000143774926007547/0001437749-26-007547-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001547459.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1547459

## Cite

POPS4, Edgar & Edgarette: Natural Grocers by Vitamin Cottage, Inc. (NGVC) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/NGVC. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

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.