Filing Flows › Natural Grocers by Vitamin Cottage (NGVC) › Q2 FY26 › vs Q2 FY25
Natural Grocers by Vitamin Cottage (NGVC) Q2 FY26 vs Q2 FY25 (year over year)
Natural Grocers by Vitamin Cottage's revenue rose $1.6M (+0.5%) from $336M in Q2 FY25 to $337M in Q2 FY26. The biggest changes: Grocery +$5.0M (+2%); Dietary Supplements −$2.2M (-3%); Manufactured Product, Other −$1.2M (-4%). Gross margin 30.4% against 30.3% (+0.1 pts).
Natural Grocers by Vitamin Cottage, Q2 FY26: revenue $337M (+0.5% year over year), operating margin 5.4%, net earnings $13.4M, operating cash flow $22.7M. The chart draws each line against Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Gross margin | 30.4% | 30.3% | +0.1 pts |
| Operating margin | 5.4% | 5.2% | +0.1 pts |
| Net margin | 4.0% | 3.9% | +0.1 pts |
| Free cash flow margin | 0.7% | 8.2% | -7.5 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Grocery | $244M | $239M | $5.0M | +2% |
| Dietary Supplements | $64.0M | $66.2M | −$2.2M | -3% |
| Manufactured Product, Other | $29.8M | $31.0M | −$1.2M | -4% |
| Revenue | $337M | $336M | $1.6M | +0.5% |
| Gross profit | $102M | $102M | $695K | +0.7% |
| Cost of revenue | $235M | $234M | $912K | +0.4% |
| Operating profit | $18.1M | $17.6M | $552K | +3% |
| Operating expenses | $84.3M | $84.2M | $143K | +0.2% |
| Pre-tax earnings | $17.5M | $16.8M | $670K | +4% |
| General & admin | $12.1M | $11.0M | $1.1M | +10% |
| Other operating costs | $72.2M | $73.2M | −$959K | -1% |
| Net earnings | $13.4M | $13.1M | $333K | +3% |
| Income tax | $4.0M | $3.7M | $337K | +9% |
| Depreciation & amortization | $8.2M | $7.9M | $263K | +3% |
| Share-based compensation | $945K | $822K | $123K | +15% |
| Working capital & other | $175K | $12.3M | −$12.1M | -99% |
| Operating cash flow | $22.7M | $34.1M | −$11.4M | -33% |
| Free cash flow (OCF − capex) | $2.3M | $27.6M | −$25.3M | -92% |
| Capital expenditures | $20.4M | $6.4M | $13.9M | +217% |
Questions
How much did Natural Grocers by Vitamin Cottage's revenue grow year over year in Q2 FY26?
Natural Grocers by Vitamin Cottage's revenue rose $1.6M (+0.5%) from $336M in Q2 FY25 to $337M in Q2 FY26.
What drove Natural Grocers by Vitamin Cottage's revenue change in Q2 FY26?
Grocery +$5.0M (+2%); Dietary Supplements −$2.2M (-3%); Manufactured Product, Other −$1.2M (-4%).