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Side-by-side financial comparison of Amphastar Pharmaceuticals, Inc. (AMPH) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Natural Grocers by Vitamin Cottage, Inc. is the larger business by last-quarter revenue ($335.6M vs $183.1M, roughly 1.8× Amphastar Pharmaceuticals, Inc.). Amphastar Pharmaceuticals, Inc. runs the higher net margin — 13.3% vs 3.4%, a 10.0% gap on every dollar of revenue. On growth, Natural Grocers by Vitamin Cottage, Inc. posted the faster year-over-year revenue change (1.6% vs -1.8%). Amphastar Pharmaceuticals, Inc. produced more free cash flow last quarter ($24.6M vs $11.6M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs 3.2%).
Amphastar Pharmaceuticals is a publicly traded American speciality pharmaceutical company. It was incorporated in May 2004 and primarily develops, manufactures, and sells inhalation and intranasal products.
Natural Grocers by Vitamin Cottage, Inc. is a U.S.-based specialty retail chain that offers certified organic groceries, dietary supplements, natural personal care items, and eco-friendly household products. It serves health-conscious consumers across multiple U.S. states, following strict quality standards that exclude artificial preservatives, colors, flavors and harmful additives.
AMPH vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.1M | $335.6M |
| Net Profit | $24.4M | $11.3M |
| Gross Margin | 46.8% | 29.5% |
| Operating Margin | 19.4% | 4.4% |
| Net Margin | 13.3% | 3.4% |
| Revenue YoY | -1.8% | 1.6% |
| Net Profit YoY | -35.7% | 14.0% |
| EPS (diluted) | $0.51 | $0.49 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $183.1M | $335.6M | ||
| Q3 25 | $191.8M | $336.1M | ||
| Q2 25 | $174.4M | $328.7M | ||
| Q1 25 | $170.5M | $335.8M | ||
| Q4 24 | $186.5M | $330.2M | ||
| Q3 24 | $191.2M | $322.7M | ||
| Q2 24 | $182.4M | $309.1M | ||
| Q1 24 | $171.8M | $308.1M |
| Q4 25 | $24.4M | $11.3M | ||
| Q3 25 | $17.4M | $11.8M | ||
| Q2 25 | $31.0M | $11.6M | ||
| Q1 25 | $25.3M | $13.1M | ||
| Q4 24 | $38.0M | $9.9M | ||
| Q3 24 | $40.4M | $9.0M | ||
| Q2 24 | $37.9M | $9.2M | ||
| Q1 24 | $43.2M | $8.0M |
| Q4 25 | 46.8% | 29.5% | ||
| Q3 25 | 51.4% | 29.5% | ||
| Q2 25 | 49.6% | 29.9% | ||
| Q1 25 | 50.0% | 30.3% | ||
| Q4 24 | 46.5% | 29.9% | ||
| Q3 24 | 53.3% | 29.6% | ||
| Q2 24 | 52.2% | 29.2% | ||
| Q1 24 | 52.4% | 29.3% |
| Q4 25 | 19.4% | 4.4% | ||
| Q3 25 | 13.2% | 4.6% | ||
| Q2 25 | 24.2% | 4.7% | ||
| Q1 25 | 21.9% | 5.2% | ||
| Q4 24 | 24.2% | 4.0% | ||
| Q3 24 | 29.8% | 3.7% | ||
| Q2 24 | 30.3% | 4.2% | ||
| Q1 24 | 27.9% | 3.7% |
| Q4 25 | 13.3% | 3.4% | ||
| Q3 25 | 9.0% | 3.5% | ||
| Q2 25 | 17.8% | 3.5% | ||
| Q1 25 | 14.8% | 3.9% | ||
| Q4 24 | 20.4% | 3.0% | ||
| Q3 24 | 21.1% | 2.8% | ||
| Q2 24 | 20.8% | 3.0% | ||
| Q1 24 | 25.1% | 2.6% |
| Q4 25 | $0.51 | $0.49 | ||
| Q3 25 | $0.37 | $0.51 | ||
| Q2 25 | $0.64 | $0.50 | ||
| Q1 25 | $0.51 | $0.56 | ||
| Q4 24 | $0.74 | $0.43 | ||
| Q3 24 | $0.78 | $0.38 | ||
| Q2 24 | $0.73 | $0.40 | ||
| Q1 24 | $0.81 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $282.8M | $23.2M |
| Total DebtLower is stronger | $608.7M | — |
| Stockholders' EquityBook value | $788.8M | $220.0M |
| Total Assets | $1.6B | $668.6M |
| Debt / EquityLower = less leverage | 0.77× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.8M | $23.2M | ||
| Q3 25 | $276.2M | $17.1M | ||
| Q2 25 | $231.8M | $13.2M | ||
| Q1 25 | $236.9M | $21.2M | ||
| Q4 24 | $221.6M | $6.3M | ||
| Q3 24 | $250.5M | $8.9M | ||
| Q2 24 | $217.8M | $13.9M | ||
| Q1 24 | $289.6M | $11.0M |
| Q4 25 | $608.7M | — | ||
| Q3 25 | $608.6M | — | ||
| Q2 25 | $607.7M | — | ||
| Q1 25 | $603.9M | — | ||
| Q4 24 | $601.6M | — | ||
| Q3 24 | $596.4M | — | ||
| Q2 24 | $586.9M | — | ||
| Q1 24 | $594.0M | — |
| Q4 25 | $788.8M | $220.0M | ||
| Q3 25 | $776.7M | $212.4M | ||
| Q2 25 | $757.5M | $202.5M | ||
| Q1 25 | $751.3M | $193.0M | ||
| Q4 24 | $732.3M | $181.9M | ||
| Q3 24 | $727.7M | $174.3M | ||
| Q2 24 | $713.3M | $167.8M | ||
| Q1 24 | $672.4M | $160.0M |
| Q4 25 | $1.6B | $668.6M | ||
| Q3 25 | $1.7B | $670.5M | ||
| Q2 25 | $1.6B | $659.0M | ||
| Q1 25 | $1.6B | $664.6M | ||
| Q4 24 | $1.6B | $648.9M | ||
| Q3 24 | $1.5B | $655.5M | ||
| Q2 24 | $1.5B | $654.4M | ||
| Q1 24 | $1.6B | $656.6M |
| Q4 25 | 0.77× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 0.82× | — | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | 0.82× | — | ||
| Q1 24 | 0.88× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $32.9M | $21.1M |
| Free Cash FlowOCF − Capex | $24.6M | $11.6M |
| FCF MarginFCF / Revenue | 13.4% | 3.4% |
| Capex IntensityCapex / Revenue | 4.5% | 2.9% |
| Cash ConversionOCF / Net Profit | 1.35× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $121.2M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.9M | $21.1M | ||
| Q3 25 | $52.6M | $15.6M | ||
| Q2 25 | $35.6M | $2.9M | ||
| Q1 25 | $35.1M | $34.1M | ||
| Q4 24 | $29.0M | $2.7M | ||
| Q3 24 | $60.0M | $24.5M | ||
| Q2 24 | $69.1M | $12.4M | ||
| Q1 24 | $55.3M | $20.2M |
| Q4 25 | $24.6M | $11.6M | ||
| Q3 25 | $47.2M | $7.5M | ||
| Q2 25 | $25.0M | $-4.2M | ||
| Q1 25 | $24.4M | $27.6M | ||
| Q4 24 | $16.6M | $-6.9M | ||
| Q3 24 | $46.2M | $18.0M | ||
| Q2 24 | $63.1M | $3.6M | ||
| Q1 24 | $46.5M | $9.8M |
| Q4 25 | 13.4% | 3.4% | ||
| Q3 25 | 24.6% | 2.2% | ||
| Q2 25 | 14.3% | -1.3% | ||
| Q1 25 | 14.3% | 8.2% | ||
| Q4 24 | 8.9% | -2.1% | ||
| Q3 24 | 24.1% | 5.6% | ||
| Q2 24 | 34.6% | 1.2% | ||
| Q1 24 | 27.1% | 3.2% |
| Q4 25 | 4.5% | 2.9% | ||
| Q3 25 | 2.8% | 2.4% | ||
| Q2 25 | 6.1% | 2.2% | ||
| Q1 25 | 6.3% | 1.9% | ||
| Q4 24 | 6.7% | 2.9% | ||
| Q3 24 | 7.2% | 2.0% | ||
| Q2 24 | 3.3% | 2.9% | ||
| Q1 24 | 5.1% | 3.4% |
| Q4 25 | 1.35× | 1.86× | ||
| Q3 25 | 3.03× | 1.32× | ||
| Q2 25 | 1.15× | 0.25× | ||
| Q1 25 | 1.39× | 2.60× | ||
| Q4 24 | 0.76× | 0.27× | ||
| Q3 24 | 1.48× | 2.72× | ||
| Q2 24 | 1.82× | 1.35× | ||
| Q1 24 | 1.28× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMPH
| Other Products | $62.4M | 34% |
| Baqsimi | $46.7M | 26% |
| Primatenemist | $27.9M | 15% |
| Epinephrine | $17.1M | 9% |
| Lidocaine | $14.9M | 8% |
| Glucagon | $14.1M | 8% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
