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Natural Grocers by Vitamin Cottage (NGVC) earnings and revenue breakdown
Latest: Q3 FY26 · 10-Q filed Aug 6, 2026 · Natural Grocers by Vitamin Cottage (NGVC) Q3 FY26 earnings results →
Q3 FY26 Revenue up 2% year over year to $335M · 3¢ of every $1 of revenue kept as net profit · operating margin 4.5%
Natural Grocers by Vitamin Cottage made $335M in Q3 FY26 (+2% Y/Y): Grocery $244M, Dietary Supplements $59.9M, Manufactured Product, Other $30.9M. Operating margin 4.5%, net earnings $11.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.
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What changed this quarter
Revenue was $334.7M in Q3 FY26, up 2% year over year and down 1% from the previous quarter. Grocery was the largest line at 73% of revenue. Grocery added $8.7M year over year (up 4%), 144% of the total change. Dietary Supplements declined 3%.
Gross margin was 29.3%, down 0.6 points from Q3 FY25. Operating profit was $15.0M, a 4.5% margin (down 0.3 points year over year). Operating profit fell $591K even though revenue rose $6.0M versus Q3 FY25, so costs grew faster than sales. Operating expenses grew 0% against revenue growth of 2%. Net earnings were $11.1M, down 5% year over year. The effective tax rate was 22.7%.
Operating cash flow was $11.3M (up 284% year over year), 102% of net earnings. Non-cash charges added back $8.3M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $9.1M. Capital expenditures of $10.0M left free cash flow of $1.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 FY26 | 10-Q | Aug 6, 2026 | $335M | +2% | 4.5% | $11.1M | $11.3M |
| Q2 FY26 | 10-Q | May 7, 2026 | $337M | +0.5% | 5.4% | $13.4M | $22.7M |
| Q1 FY26 | 10-Q | Feb 5, 2026 | $336M | +2% | 4.4% | $11.3M | $21.1M |
| Q4 FY25 | 10-K | Dec 11, 2025 | $336M | +4% | 4.6% | $11.8M | $15.6M |
| Q3 FY25 | 10-Q | Aug 7, 2025 | $329M | +6% | 4.7% | $11.6M | $2.9M |
| Q2 FY25 | 10-Q | May 8, 2025 | $336M | +9% | 5.2% | $13.1M | $34.1M |
| Q4 FY24 | 10-K | Dec 12, 2024 | $323M | +9% | 3.7% | $9.0M | $24.5M |
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Customers and suppliers named in filings
Buys from
About Natural Grocers by Vitamin Cottage
Natural Grocers® is an expanding specialty retailer of natural and organic groceries and dietary supplements. We focus on providing high-quality products at affordable prices, exceptional customer service, nutrition education and community outreach. We strive to generate long-term relationships with our customers based on transparency and trust by: Our founders, Margaret and Philip Isely, were early proponents of the connection between health and the use of natural and organic products and dietary supplements. In the mid-1950’s, Margaret transformed her health and the health of her family by applying concepts and principles she learned from books on nutrition. This inspired the Iselys to provide the same type of nutrition education to their community.
In its own words, from its 10-K, filed Dec 11, 2025.
Natural Grocers by Vitamin Cottage against its Retail-Grocery Stores peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +2%. Operating margin: 4.5% against the peers' median 2.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NGVC Natural Grocers by Vitamin Cottage | Q3 FY26 | $335M | +2% | 4.5% |
| KR Kroger | Q2 FY27 | $34.6B | +2% | 2.8% |
| ACI Albertsons Companies | Q2 FY27 | $18.9B | -0.1% | 0.9% |
| Publix Super Markets | Q3 2026 | $15.7B | +1% | 5.9% |
| SFM Sprouts Farmers Market | Q3 2026 | $2.3B | +5% | 6.6% |
| IMKTA Ingles Markets | Q3 FY26 | $1.4B | +2% | 2.5% |
| WMK Weis Markets | Q3 2026 | $1.3B | +3% | 2.2% |
| GO Grocery Outlet Holding | Q2 2026 | $1.2B | +1% | 1.3% |
| YSWY Yesway | Q2 2026 | $921M | +36% | 5.2% |
Source: Natural Grocers by Vitamin Cottage 10-Q on SEC EDGAR · CIK 1547459 · Retail-Grocery Stores
13F: who owns NGVC and who is buying
More on NGVC
- How Natural Grocers by Vitamin Cottage makes money: revenue by segment
- Natural Grocers by Vitamin Cottage next earnings date and what analysts expect
- Natural Grocers by Vitamin Cottage stock forecast, price target and fair value
- Who owns Natural Grocers by Vitamin Cottage stock: holders, funds and Congress trades
- Is Natural Grocers by Vitamin Cottage a takeover target? LBO and rumors
History
Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results
- Natural Grocers by Vitamin Cottage gross margin by quarter
- Natural Grocers by Vitamin Cottage operating margin by quarter
- Natural Grocers by Vitamin Cottage net income by quarter
- Natural Grocers by Vitamin Cottage free cash flow by quarter
- Natural Grocers by Vitamin Cottage capital expenditures by quarter
- Natural Grocers by Vitamin Cottage Grocery revenue by quarter
- Natural Grocers by Vitamin Cottage Dietary Supplements revenue by quarter
- Natural Grocers by Vitamin Cottage Manufactured Product, Other revenue by quarter