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Grocery Outlet Holding vs Natural Grocers by Vitamin Cottage: GO and NGVC compared
Grocery Outlet Holding is the larger company: $1.2B of revenue in its latest quarter (Q2 2026) against $335M for Natural Grocers by Vitamin Cottage (Q3 FY26). Natural Grocers by Vitamin Cottage is growing faster (+2% against +1% a year earlier). Natural Grocers by Vitamin Cottage is more profitable, with an operating margin of 4.5% against 1.3%.
Where the money goes: GO and NGVC
Grocery Outlet Holding (GO) · Q2 2026
Grocery Outlet Holding, Q2 2026: revenue $1.2B (+1% year over year), operating margin 1.3%, net earnings $5.6M, operating cash flow $43.1M. The chart follows the revenue to costs, profit and cash.
Natural Grocers by Vitamin Cottage (NGVC) · Q3 FY26
Natural Grocers by Vitamin Cottage, Q3 FY26: revenue $335M (+2% year over year), operating margin 4.5%, net earnings $11.1M, operating cash flow $11.3M. The chart follows the revenue to costs, profit and cash.
| Grocery Outlet Holding (GO) | Natural Grocers by Vitamin Cottage (NGVC) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 FY26 |
| Revenue | $1.2B | $335M |
| Revenue growth, Y/Y | +1% | +2% |
| Gross margin | 30.2% | 29.3% |
| Operating margin | 1.3% | 4.5% |
| Net earnings | $5.6M | $11.1M |
| Net margin | 0.5% | 3.3% |
| Operating cash flow | $43.1M | $11.3M |
| Free cash flow | $1.4M | $1.2M |
| Market value | $1.3B | $667M |
| P/E | — | 14.0× |
| Analysts’ mean target | $11.08 | $42.25 |
Where the revenue comes from
Grocery Outlet Holding
- Non-Perishable: $737M (62%)
- Perishable: $455M (38%)
Natural Grocers by Vitamin Cottage
- Grocery: $244M (73%)
- Dietary Supplements: $59.9M (18%)
- Manufactured Product, Other: $30.9M (9%)
Questions
Which is bigger, Grocery Outlet Holding or Natural Grocers by Vitamin Cottage?
Grocery Outlet Holding is the larger company: $1.2B of revenue in its latest quarter (Q2 2026) against $335M for Natural Grocers by Vitamin Cottage (Q3 FY26).
Is Grocery Outlet Holding or Natural Grocers by Vitamin Cottage growing faster?
Natural Grocers by Vitamin Cottage is growing faster (+2% against +1% a year earlier).
Which is more profitable, Grocery Outlet Holding or Natural Grocers by Vitamin Cottage?
Natural Grocers by Vitamin Cottage is more profitable, with an operating margin of 4.5% against 1.3%.
More: Grocery Outlet Holding earnings · how Grocery Outlet Holding makes money · Natural Grocers by Vitamin Cottage earnings · how Natural Grocers by Vitamin Cottage makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 12, 2026; 10-Q filed Aug 6, 2026). Fiscal quarters can end on different dates. Not investment advice.