vs
Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) 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 $247.1M, roughly 1.4× ANI PHARMACEUTICALS INC). ANI PHARMACEUTICALS INC runs the higher net margin — 11.1% vs 3.4%, a 7.7% gap on every dollar of revenue. On growth, ANI PHARMACEUTICALS INC posted the faster year-over-year revenue change (29.6% vs 1.6%). ANI PHARMACEUTICALS INC produced more free cash flow last quarter ($29.1M vs $11.6M). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs 4.4%).
ANI Pharmaceuticals Inc is a U.S.-based specialty pharmaceutical firm that develops, manufactures and sells generic and branded prescription drugs. Its key segments cover dermatology, oncology, CNS therapies and anti-infectives, primarily serving U.S. healthcare providers, retail pharmacies and institutional medical clients.
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.
ANIP vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $335.6M |
| Net Profit | $27.5M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | 14.1% | 4.4% |
| Net Margin | 11.1% | 3.4% |
| Revenue YoY | 29.6% | 1.6% |
| Net Profit YoY | 367.5% | 14.0% |
| EPS (diluted) | $1.14 | $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 | $247.1M | $335.6M | ||
| Q3 25 | $227.8M | $336.1M | ||
| Q2 25 | $211.4M | $328.7M | ||
| Q1 25 | $197.1M | $335.8M | ||
| Q4 24 | $190.6M | $330.2M | ||
| Q3 24 | $148.3M | $322.7M | ||
| Q2 24 | $138.0M | $309.1M | ||
| Q1 24 | $137.4M | $308.1M |
| Q4 25 | $27.5M | $11.3M | ||
| Q3 25 | $26.6M | $11.8M | ||
| Q2 25 | $8.5M | $11.6M | ||
| Q1 25 | $15.7M | $13.1M | ||
| Q4 24 | $-10.3M | $9.9M | ||
| Q3 24 | $-24.2M | $9.0M | ||
| Q2 24 | $-2.3M | $9.2M | ||
| Q1 24 | $18.2M | $8.0M |
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 29.5% | ||
| Q2 25 | — | 29.9% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 29.2% | ||
| Q1 24 | — | 29.3% |
| Q4 25 | 14.1% | 4.4% | ||
| Q3 25 | 15.9% | 4.6% | ||
| Q2 25 | 6.6% | 4.7% | ||
| Q1 25 | 13.3% | 5.2% | ||
| Q4 24 | -2.3% | 4.0% | ||
| Q3 24 | -13.8% | 3.7% | ||
| Q2 24 | 3.7% | 4.2% | ||
| Q1 24 | 14.8% | 3.7% |
| Q4 25 | 11.1% | 3.4% | ||
| Q3 25 | 11.7% | 3.5% | ||
| Q2 25 | 4.0% | 3.5% | ||
| Q1 25 | 8.0% | 3.9% | ||
| Q4 24 | -5.4% | 3.0% | ||
| Q3 24 | -16.3% | 2.8% | ||
| Q2 24 | -1.7% | 3.0% | ||
| Q1 24 | 13.2% | 2.6% |
| Q4 25 | $1.14 | $0.49 | ||
| Q3 25 | $1.13 | $0.51 | ||
| Q2 25 | $0.36 | $0.50 | ||
| Q1 25 | $0.69 | $0.56 | ||
| Q4 24 | $-0.45 | $0.43 | ||
| Q3 24 | $-1.27 | $0.38 | ||
| Q2 24 | $-0.14 | $0.40 | ||
| Q1 24 | $0.82 | $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 | $285.6M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $540.7M | $220.0M |
| Total Assets | $1.4B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $285.6M | $23.2M | ||
| Q3 25 | $262.6M | $17.1M | ||
| Q2 25 | $217.8M | $13.2M | ||
| Q1 25 | $149.8M | $21.2M | ||
| Q4 24 | $144.9M | $6.3M | ||
| Q3 24 | $145.0M | $8.9M | ||
| Q2 24 | $240.1M | $13.9M | ||
| Q1 24 | $228.6M | $11.0M |
| Q4 25 | $540.7M | $220.0M | ||
| Q3 25 | $505.8M | $212.4M | ||
| Q2 25 | $436.8M | $202.5M | ||
| Q1 25 | $418.6M | $193.0M | ||
| Q4 24 | $403.7M | $181.9M | ||
| Q3 24 | $405.9M | $174.3M | ||
| Q2 24 | $455.8M | $167.8M | ||
| Q1 24 | $452.0M | $160.0M |
| Q4 25 | $1.4B | $668.6M | ||
| Q3 25 | $1.4B | $670.5M | ||
| Q2 25 | $1.3B | $659.0M | ||
| Q1 25 | $1.3B | $664.6M | ||
| Q4 24 | $1.3B | $648.9M | ||
| Q3 24 | $1.3B | $655.5M | ||
| Q2 24 | $920.8M | $654.4M | ||
| Q1 24 | $914.5M | $656.6M |
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 | $30.4M | $21.1M |
| Free Cash FlowOCF − Capex | $29.1M | $11.6M |
| FCF MarginFCF / Revenue | 11.8% | 3.4% |
| Capex IntensityCapex / Revenue | 0.5% | 2.9% |
| Cash ConversionOCF / Net Profit | 1.10× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.4M | $21.1M | ||
| Q3 25 | $44.1M | $15.6M | ||
| Q2 25 | $75.8M | $2.9M | ||
| Q1 25 | $35.0M | $34.1M | ||
| Q4 24 | $15.9M | $2.7M | ||
| Q3 24 | $12.5M | $24.5M | ||
| Q2 24 | $17.4M | $12.4M | ||
| Q1 24 | $18.3M | $20.2M |
| Q4 25 | $29.1M | $11.6M | ||
| Q3 25 | $38.0M | $7.5M | ||
| Q2 25 | $71.8M | $-4.2M | ||
| Q1 25 | $32.5M | $27.6M | ||
| Q4 24 | $13.5M | $-6.9M | ||
| Q3 24 | $7.7M | $18.0M | ||
| Q2 24 | $13.0M | $3.6M | ||
| Q1 24 | $13.7M | $9.8M |
| Q4 25 | 11.8% | 3.4% | ||
| Q3 25 | 16.7% | 2.2% | ||
| Q2 25 | 34.0% | -1.3% | ||
| Q1 25 | 16.5% | 8.2% | ||
| Q4 24 | 7.1% | -2.1% | ||
| Q3 24 | 5.2% | 5.6% | ||
| Q2 24 | 9.4% | 1.2% | ||
| Q1 24 | 10.0% | 3.2% |
| Q4 25 | 0.5% | 2.9% | ||
| Q3 25 | 2.7% | 2.4% | ||
| Q2 25 | 1.9% | 2.2% | ||
| Q1 25 | 1.3% | 1.9% | ||
| Q4 24 | 1.3% | 2.9% | ||
| Q3 24 | 3.2% | 2.0% | ||
| Q2 24 | 3.2% | 2.9% | ||
| Q1 24 | 3.3% | 3.4% |
| Q4 25 | 1.10× | 1.86× | ||
| Q3 25 | 1.66× | 1.32× | ||
| Q2 25 | 8.87× | 0.25× | ||
| Q1 25 | 2.23× | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | 1.00× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANIP
| Sales Of Cortrophin Gel | $111.4M | 45% |
| Sales Of Generic Pharmaceutical Products | $100.8M | 41% |
| Sales Of ILUVIEN And YUTIQ | $19.8M | 8% |
| Sales Of Established Brands | $12.3M | 5% |
| Unapproved Products | $6.5M | 3% |
| Sales Of Royalties And Other Pharmaceutical Services | $2.7M | 1% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
