Filing Flows › Natural Grocers by Vitamin Cottage (NGVC) › Q4 FY25
Natural Grocers by Vitamin Cottage (NGVC) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Dec 11, 2025
Natural Grocers by Vitamin Cottage (NGVC) reported revenue of $336M for the fourth quarter fiscal 2025 (Q4 FY25), +4% from a year earlier and +2% from the quarter before. Operating margin was 4.6%, net earnings $11.8M (3.5% of revenue).
Natural Grocers by Vitamin Cottage, Q4 FY25: revenue $336M (+4% year over year), operating margin 4.6%, net earnings $11.8M, operating cash flow $15.6M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $336M | +2% | +4% |
| Gross profit | $99.0M | +0.8% | +4% |
| Operating profit | $15.5M | -0.5% | +28% |
| Net earnings | $11.8M | +2% | +31% |
| Operating cash flow | $15.6M | +433% | -36% |
| Free cash flow | $7.5M | — | -58% |
What changed
Revenue was $336.1M in Q4 FY25, up 4% year over year and up 2% from the previous quarter. Grocery was the largest line at 72% of revenue.
Gross margin was 29.5%, down 0.1 points from Q4 FY24. Operating profit was $15.5M, a 4.6% margin (up 0.9 points year over year). Of the extra revenue versus Q4 FY24, 25% reached operating profit, above the 4% margin then. Operating expenses grew 0% against revenue growth of 4%. Net earnings were $11.8M, up 31% year over year. The effective tax rate was 20.3%.
Operating cash flow was $15.6M (down 36% year over year), 132% of net earnings. Non-cash charges added back $8.0M of depreciation and amortization and $860K of share-based compensation. Working capital and other items used $5.1M. Capital expenditures of $8.1M left free cash flow of $7.5M.
Questions
What was Natural Grocers by Vitamin Cottage's revenue in the fourth quarter fiscal 2025?
Natural Grocers by Vitamin Cottage (NGVC) reported revenue of $336M for the fourth quarter fiscal 2025 (Q4 FY25), +4% from a year earlier and +2% from the quarter before.
Was Natural Grocers by Vitamin Cottage profitable in the fourth quarter fiscal 2025?
Operating profit was $15.5M (4.6% of revenue) and net earnings $11.8M.
Source: Natural Grocers by Vitamin Cottage 10-K on SEC EDGAR.