Filing Flows

Filing Flows › Natural Grocers by Vitamin Cottage (NGVC) › How it makes money

How Natural Grocers by Vitamin Cottage (NGVC) makes money

Natural Grocers by Vitamin Cottage (NGVC) made $335M of revenue in the third quarter fiscal 2026 (Q3 FY26), +2% from a year earlier. Grocery brought in $244M (73%); Dietary Supplements brought in $59.9M (18%); Manufactured Product, Other brought in $30.9M (9%). Of every dollar of revenue, 29¢ was left as gross profit, 4¢ was left as operating profit, 3¢ was left as net earnings.

Drawing the Sankey…

Natural Grocers by Vitamin Cottage revenue by segment, Q3 FY26Natural Grocers by Vitamin Cottage revenue by segment, Q3 FY26Grocery$244MDietary Supplements$59.9MManufactured Product, Other$30.9M
Natural Grocers by Vitamin Cottage: revenue by line, Q4 FY24 to Q3 FY26Natural Grocers by Vitamin Cottage: revenue by line, Q4 FY24 to Q3 FY26GroceryDietary SupplementsManufactured Product,…Grocery: $244M latest$244MDietary Supplements: $59.9M latest$59.9MManufactured Product, Other: $30.9M latest$30.9MQ4 FY24Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26
The mix barely moved between Q4 FY24 and Q3 FY26.
Natural Grocers by Vitamin Cottage revenue by quarterNatural Grocers by Vitamin Cottage revenue by quarter$323MQ4 FY24$336MQ2 FY25$329MQ3 FY25$336MQ4 FY25$336MQ1 FY26$337MQ2 FY26$335MQ3 FY26
Natural Grocers by Vitamin Cottage: where each dollar of revenue goesNatural Grocers by Vitamin Cottage: where each dollar of revenue goesCost of revenue71¢Gross profit29¢Operating expenses25¢Operating profit4¢Income tax1¢Net earnings3¢Operating cash flow3¢Free cash flow0¢

Revenue by segment, Q3 FY26

SegmentRevenueShareQ/QY/Y
Grocery$244M72.9%+0.2%+4%
Dietary Supplements$59.9M17.9%-6%-3%
Manufactured Product, Other$30.9M9.2%+4%-2%

Where each dollar of revenue goes

LineQ3 FY26% of revenue
Revenue$335M100.0%
Cost of revenue$237M70.7%
Gross profit$98.0M29.3%
Operating expenses$83.0M24.8%
Operating profit$15.0M4.5%
Income tax$3.3M1.0%
Net earnings$11.1M3.3%
Operating cash flow$11.3M3.4%
Free cash flow$1.2M0.4%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 FY26$335M+2%
Q2 FY26$337M+0.5%
Q1 FY26$336M+2%
Q4 FY25$336M+4%
Q3 FY25$329M+6%
Q2 FY25$336M+9%
Q4 FY24$323M+9%

From Natural Grocers by Vitamin Cottage's 10-Q filed Aug 6, 2026 (on EDGAR).

Questions

How does Natural Grocers by Vitamin Cottage make money?

Natural Grocers by Vitamin Cottage (NGVC) made $335M of revenue in the third quarter fiscal 2026 (Q3 FY26), +2% from a year earlier. Grocery brought in $244M (73%); Dietary Supplements brought in $59.9M (18%); Manufactured Product, Other brought in $30.9M (9%). Of every dollar of revenue, 29¢ was left as gross profit, 4¢ was left as operating profit, 3¢ was left as net earnings.

What is Natural Grocers by Vitamin Cottage's biggest business?

Grocery: $244M in the third quarter fiscal 2026, 73% of revenue, +4% from a year earlier.

What is Natural Grocers by Vitamin Cottage's profit margin?

Net earnings were $11.1M, 3.3% of revenue, in the third quarter fiscal 2026; the operating margin was 4.5%.

Open the interactive view →

Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.