Natural Grocers by Vitamin Cottage, Inc.
NGVC · Retail-Grocery Stores · 23.0M shares · +0%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$1M (gross $181K, SBC $1M)
Reference price $29.04 · est. market cap ~$669M — last insider sale, 2026-05-29 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B82Niche natural-grocery retailer posting top-decile returns and 37% earnings growth on a clean balance sheet.
Strengths
- Top-decile ROE (~21.9%, 91st pct), ROA (91st pct) and net income growth (+36.9%, 90th pct)
- Strong interest coverage (20x, 88th pct), positive FCF margin (87th pct) and low leverage
Risks
- Sub-scale (169 stores) specialty grocer in an intensely competitive industry with no wide moat
- Thin absolute net margin (~3.5%) and geographic concentration leave little error margin
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
29.9%
Operating margin
4.7%
Net margin
3.5%
Return on equity
21.9%
Return on assets
6.9%
Revenue growth (QoQ)
0.5%
Net-income growth
36.9%
Interest coverage
20.2×
Current ratio
1.1×
Free cash flow
$24M
EBITDA
$94M
Tangible book value
$201M
Cash & investments
$17M
Stock comp / revenue
0.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-29 | Isely Charity | Sell | 3.0K | $29.04 |
| 2026-03-05 | Rooney David C. | Option exercise | 1.5K | — |
| 2026-03-05 | Cerkovnik Edward | Option exercise | 1.5K | — |
| 2026-03-05 | Buffa Sandra | Option exercise | 1.5K | — |
| 2025-11-03 | Isely Raquel M. | Option exercise | 4.0K | — |
| 2025-11-03 | Isely Raquel M. | Tax withheld | 1.1K | $32.09 |
| 2025-11-03 | Linnane Robert | Option exercise | 2.0K | — |
| 2025-11-03 | Linnane Robert | Tax withheld | 659 | $32.09 |
| 2025-11-03 | Isely Charity | Option exercise | 2.0K | — |
| 2025-11-03 | Isely Charity | Tax withheld | 593 | $32.09 |
| 2025-10-01 | Isely Raquel M. | Option exercise | 480 | — |
| 2025-10-01 | Isely Raquel M. | Tax withheld | 157 | $40.00 |
| 2025-08-25 | Isely Lark | Sell | 500 | $41.00 |
| 2025-08-19 | Isely Lark | Sell | 2.0K | $40.00 |
| 2025-06-11 | Isely Lark | Sell | 2.0K | $44.26 |
| 2025-03-06 | Halle Richard | Option exercise | 3.7K | — |
| 2025-03-06 | Halle Richard | Tax withheld | 1.2K | $39.14 |
| 2025-03-06 | Rooney David C. | Option exercise | 3.7K | — |
| 2025-03-06 | Cerkovnik Edward | Option exercise | 3.7K | — |
| 2025-03-06 | Buffa Sandra | Option exercise | 3.7K | — |
| 2024-12-31 | Dissinger Todd | Option exercise | 45K | — |
| 2024-12-31 | Dissinger Todd | Tax withheld | 20K | $39.69 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-03-10 | Shareholder voteExhibits | filing ↗ |
| 2026-02-05 | ResultsExhibits | filing ↗ |
| 2025-11-20 | ResultsReg FDOtherExhibits | filing ↗ |
| 2025-10-29 | Exec/director change | filing ↗ |
| 2025-08-07 | ResultsReg FDExhibits | filing ↗ |
| 2025-05-08 | ResultsExhibits | filing ↗ |
| 2025-03-11 | 5.03Shareholder voteExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-07 | 2026-03-31 | 0001437749-26-015576 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001437749-26-015580 ↗ |
| 8-K | 2026-03-10 | 2026-03-04 | 0001437749-26-007547 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001437749-26-003198 ↗ |
| 10-Q | 2026-02-05 | 2025-12-31 | 0001437749-26-003196 ↗ |
| 10-K | 2025-12-11 | 2025-09-30 | 0001437749-25-037556 ↗ |
| 8-K | 2025-11-20 | 2025-11-20 | 0001437749-25-035859 ↗ |
| 8-K | 2025-10-29 | 2025-10-23 | 0001437749-25-032210 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001437749-25-025419 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001437749-25-025430 ↗ |
| 8-K | 2025-05-08 | 2025-05-08 | 0001437749-25-015494 ↗ |
| 10-Q | 2025-05-08 | 2025-03-31 | 0001437749-25-015486 ↗ |