Natural Grocers by Vitamin Cottage Inc (NGVC)

Consumer Defensive | Grocery Stores
Income Statement (Quarterly) 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Revenue 335,769,000 330,221,000 322,661,000 309,082,000
Cost of Revenue 234,021,000 231,397,000 227,299,000 226,409,000
Gross Profit 101,748,000 98,824,000 95,362,000 82,673,000
Operating Expenses
R&D Expenses 0 0 0 0
SG&A Expenses 0 11,514,000 10,241,000 89,865,000
Operating Expenses 84,195,000 85,476,000 95,835,000 90,267,000
Operating Income 17,553,000 13,348,000 12,066,000 12,847,000
Interest Expense -750,000 923,000 1,053,000 1,052,000
Income Before Tax 16,803,000 12,425,000 11,013,000 11,795,000
Income Tax Expense -3,702,000 2,487,000 2,003,000 2,586,000
Net Income 13,101,000 9,938,000 9,010,000 9,209,000
Per Share
EPS 0.57 0.43 0.40 0.40
EPS Diluted 0.00 0.00 0.00 0.00
Income Statement (Annual) 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Revenue 1,330,836,000 1,241,585,000 1,140,568,000 1,089,625,000 1,055,516,000
Cost of Revenue 932,959,000 876,775,000 813,637,000 784,744,000 763,328,000
Gross Profit 397,877,000 364,810,000 326,931,000 304,881,000 292,188,000
Operating Expenses
R&D Expenses 0 0 0 0 0
SG&A Expenses 0 38,715,000 344,304,000 273,619,000 262,941,000
Operating Expenses 335,887,000 317,833,000 345,604,000 273,619,000 263,861,000
Operating Income 61,990,000 46,977,000 31,669,000 30,155,000 28,327,000
Interest Expense 3,063,000 4,176,000 3,299,000 2,371,000 2,271,000
Income Before Tax 58,927,000 42,801,000 28,370,000 27,784,000 26,056,000
Income Tax Expense -12,483,000 8,866,000 5,127,000 6,419,000 5,475,000
Net Income 46,444,000 33,935,000 23,243,000 21,365,000 20,581,000
Per Share
EPS 2.02 1.49 1.02 0.94 0.91
EPS Diluted 0.00 0.00 0.00 0.00 0.00
Balance Sheet (Quarterly) 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Assets
Cash and Cash Equivalents 8,871,000 18,342,000 12,039,000 23,678,000
Short Term Investments 0 0 0 0
Net Receivables 12,610,000 10,797,000 10,496,000 8,489,000
Inventory 120,672,000 119,260,000 113,756,000 100,546,000
Total Current Assets 147,058,000 152,550,000 140,660,000 135,627,000
Property Plant Equipment 494,472,000 502,111,000 507,865,000 507,154,000
Goodwill and Intangibles 13,469,000 14,129,000 14,131,000 11,709,000
Total Assets 655,476,000 669,185,000 663,108,000 655,079,000
Liabilities
Account Payables 88,397,000 80,675,000 71,283,000 68,949,000
Short Term Debt 39,886,000 40,290,000 39,708,000 38,234,000
Total Current Liabilities 164,130,000 154,029,000 137,728,000 133,772,000
Long Term Debt 306,621,000 329,888,000 353,666,000 363,283,000
Total Liabilities 481,222,000 498,344,000 507,296,000 512,348,000
Shareholders Equity
Retained Earnings 113,904,000 111,871,000 97,717,000 85,419,000
Total Shareholders Equity 174,254,000 170,841,000 155,812,000 142,731,000
Balance Sheet (Annual) 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30
Assets
Cash and Cash Equivalents 8,871,000 18,342,000 12,039,000 23,678,000 28,534,000
Short Term Investments 0 0 0 0 0
Net Receivables 12,610,000 10,797,000 10,496,000 8,489,000 8,519,000
Inventory 120,672,000 119,260,000 113,756,000 100,546,000 100,175,000
Total Current Assets 147,058,000 152,550,000 140,660,000 135,627,000 143,413,000
Property Plant Equipment 494,472,000 502,111,000 507,865,000 507,154,000 527,264,000
Goodwill and Intangibles 13,469,000 14,129,000 14,131,000 11,709,000 10,468,000
Total Assets 655,476,000 669,185,000 663,108,000 655,079,000 681,792,000
Liabilities
Account Payables 88,397,000 80,675,000 71,283,000 68,949,000 69,163,000
Short Term Debt 39,886,000 40,290,000 39,708,000 38,234,000 0
Total Current Liabilities 164,130,000 154,029,000 137,728,000 133,772,000 129,150,000
Long Term Debt 306,621,000 329,888,000 353,666,000 363,283,000 0
Total Liabilities 481,222,000 498,344,000 507,296,000 512,348,000 508,726,000
Shareholders Equity
Retained Earnings 113,904,000 111,871,000 97,717,000 85,419,000 116,291,000
Total Shareholders Equity 174,254,000 170,841,000 155,812,000 142,731,000 173,066,000
Cash Flow Statement (Quarterly) 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Operating Activities
Net Income 46,444,000 33,935,000 23,243,000 21,365,000
Depreciation & Amortization 31,814,000 30,930,000 28,906,000 27,906,000
Stock Based Compensation 3,960,000 2,829,000 1,360,000 1,186,000
Change in Working Capital 0 8,052,000 10,906,000 -14,393,000
Operating Cash Flow 55,304,000 73,760,000 64,606,000 39,693,000
Investing Activities
Capital Expenditure 0 -38,680,000 -38,093,000 -31,444,000
Investments 0 -37,541,000 -38,093,000 -31,444,000
Investing Cash Flow -30,971,000 -38,600,000 -37,950,000 -31,143,000
Financing Activities
Debt Repayment 0 -11,298,000 -541,879,000 -139,719,000
Common Stock Issued/Repurchased 0 -1,449,000 530,919,000 0
Dividends Paid -11,009,000 -31,866,000 -9,089,000 -9,067,000
Financing Cash Flow -16,088,000 -44,631,000 -20,353,000 -20,189,000
Summary
Free Cash Flow 55,304,000 35,080,000 26,513,000 8,249,000
Net Change in Cash 8,245,000 -9,471,000 6,303,000 -11,639,000
Cash Flow Statement (Annual) 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Operating Activities
Net Income 46,444,000 33,935,000 23,243,000 21,365,000 20,581,000
Depreciation & Amortization 31,814,000 30,930,000 28,906,000 27,906,000 29,633,000
Stock Based Compensation 3,960,000 2,829,000 1,360,000 1,186,000 877,000
Change in Working Capital 0 8,052,000 10,906,000 -14,393,000 537,000
Operating Cash Flow 55,304,000 73,760,000 64,606,000 39,693,000 53,880,000
Investing Activities
Capital Expenditure 0 -38,680,000 -38,093,000 -31,444,000 -28,287,000
Investments 0 -37,541,000 -38,093,000 -31,444,000 -26,350,000
Investing Cash Flow -30,971,000 -38,600,000 -37,950,000 -31,143,000 -27,755,000
Financing Activities
Debt Repayment 0 -11,298,000 -541,879,000 -139,719,000 -80,036,000
Common Stock Issued/Repurchased 0 -1,449,000 530,919,000 0 0
Dividends Paid -11,009,000 -31,866,000 -9,089,000 -9,067,000 -51,453,000
Financing Cash Flow -16,088,000 -44,631,000 -20,353,000 -20,189,000 -30,981,000
Summary
Free Cash Flow 55,304,000 35,080,000 26,513,000 8,249,000 25,593,000
Net Change in Cash 8,245,000 -9,471,000 6,303,000 -11,639,000 -4,856,000