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Side-by-side financial comparison of Axos Financial, Inc. (AX) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Axos Financial, Inc. is the larger business by last-quarter revenue ($385.1M vs $335.6M, roughly 1.1× Natural Grocers by Vitamin Cottage, Inc.). Axos Financial, Inc. runs the higher net margin — 33.3% vs 3.4%, a 30.0% gap on every dollar of revenue. On growth, Axos Financial, Inc. posted the faster year-over-year revenue change (25.1% vs 1.6%). Axos Financial, Inc. produced more free cash flow last quarter ($85.4M vs $11.6M). Over the past eight quarters, Axos Financial, Inc.'s revenue compounded faster (14.3% CAGR vs 4.4%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
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.
AX vs NGVC — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $385.1M | $335.6M |
| Net Profit | $128.4M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | 45.6% | 4.4% |
| Net Margin | 33.3% | 3.4% |
| Revenue YoY | 25.1% | 1.6% |
| Net Profit YoY | 22.6% | 14.0% |
| EPS (diluted) | $2.22 | $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 | $385.1M | $335.6M | ||
| Q3 25 | $323.4M | $336.1M | ||
| Q2 25 | $321.4M | $328.7M | ||
| Q1 25 | $308.8M | $335.8M | ||
| Q4 24 | $307.9M | $330.2M | ||
| Q3 24 | $320.7M | $322.7M | ||
| Q2 24 | $290.9M | $309.1M | ||
| Q1 24 | $294.8M | $308.1M |
| Q4 25 | $128.4M | $11.3M | ||
| Q3 25 | $112.4M | $11.8M | ||
| Q2 25 | $110.7M | $11.6M | ||
| Q1 25 | $105.2M | $13.1M | ||
| Q4 24 | $104.7M | $9.9M | ||
| Q3 24 | $112.3M | $9.0M | ||
| Q2 24 | $104.9M | $9.2M | ||
| Q1 24 | $110.7M | $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 | 45.6% | 4.4% | ||
| Q3 25 | 46.3% | 4.6% | ||
| Q2 25 | 48.5% | 4.7% | ||
| Q1 25 | 47.9% | 5.2% | ||
| Q4 24 | 48.8% | 4.0% | ||
| Q3 24 | 49.6% | 3.7% | ||
| Q2 24 | 49.6% | 4.2% | ||
| Q1 24 | 52.8% | 3.7% |
| Q4 25 | 33.3% | 3.4% | ||
| Q3 25 | 34.7% | 3.5% | ||
| Q2 25 | 34.4% | 3.5% | ||
| Q1 25 | 34.1% | 3.9% | ||
| Q4 24 | 34.0% | 3.0% | ||
| Q3 24 | 35.0% | 2.8% | ||
| Q2 24 | 36.0% | 3.0% | ||
| Q1 24 | 37.6% | 2.6% |
| Q4 25 | $2.22 | $0.49 | ||
| Q3 25 | $1.94 | $0.51 | ||
| Q2 25 | $1.89 | $0.50 | ||
| Q1 25 | $1.81 | $0.56 | ||
| Q4 24 | $1.80 | $0.43 | ||
| Q3 24 | $1.93 | $0.38 | ||
| Q2 24 | $1.75 | $0.40 | ||
| Q1 24 | $1.91 | $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 | $1.0B | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.9B | $220.0M |
| Total Assets | $28.2B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $23.2M | ||
| Q3 25 | $2.6B | $17.1M | ||
| Q2 25 | $1.9B | $13.2M | ||
| Q1 25 | $2.0B | $21.2M | ||
| Q4 24 | $2.4B | $6.3M | ||
| Q3 24 | $2.6B | $8.9M | ||
| Q2 24 | $2.0B | $13.9M | ||
| Q1 24 | $2.1B | $11.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $312.7M | — | ||
| Q1 25 | $377.4M | — | ||
| Q4 24 | $358.7M | — | ||
| Q3 24 | $313.5M | — | ||
| Q2 24 | $325.7M | — | ||
| Q1 24 | $330.4M | — |
| Q4 25 | $2.9B | $220.0M | ||
| Q3 25 | $2.8B | $212.4M | ||
| Q2 25 | $2.7B | $202.5M | ||
| Q1 25 | $2.6B | $193.0M | ||
| Q4 24 | $2.5B | $181.9M | ||
| Q3 24 | $2.4B | $174.3M | ||
| Q2 24 | $2.3B | $167.8M | ||
| Q1 24 | $2.2B | $160.0M |
| Q4 25 | $28.2B | $668.6M | ||
| Q3 25 | $27.4B | $670.5M | ||
| Q2 25 | $24.8B | $659.0M | ||
| Q1 25 | $24.0B | $664.6M | ||
| Q4 24 | $23.7B | $648.9M | ||
| Q3 24 | $23.6B | $655.5M | ||
| Q2 24 | $22.9B | $654.4M | ||
| Q1 24 | $22.6B | $656.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 0.15× | — |
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 | $104.1M | $21.1M |
| Free Cash FlowOCF − Capex | $85.4M | $11.6M |
| FCF MarginFCF / Revenue | 22.2% | 3.4% |
| Capex IntensityCapex / Revenue | 4.9% | 2.9% |
| Cash ConversionOCF / Net Profit | 0.81× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $695.9M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $104.1M | $21.1M | ||
| Q3 25 | $118.4M | $15.6M | ||
| Q2 25 | $490.3M | $2.9M | ||
| Q1 25 | $73.7M | $34.1M | ||
| Q4 24 | $162.5M | $2.7M | ||
| Q3 24 | $70.8M | $24.5M | ||
| Q2 24 | $305.5M | $12.4M | ||
| Q1 24 | $115.8M | $20.2M |
| Q4 25 | $85.4M | $11.6M | ||
| Q3 25 | $109.3M | $7.5M | ||
| Q2 25 | $436.1M | $-4.2M | ||
| Q1 25 | $65.1M | $27.6M | ||
| Q4 24 | $156.4M | $-6.9M | ||
| Q3 24 | $53.0M | $18.0M | ||
| Q2 24 | $269.5M | $3.6M | ||
| Q1 24 | $107.3M | $9.8M |
| Q4 25 | 22.2% | 3.4% | ||
| Q3 25 | 33.8% | 2.2% | ||
| Q2 25 | 135.7% | -1.3% | ||
| Q1 25 | 21.1% | 8.2% | ||
| Q4 24 | 50.8% | -2.1% | ||
| Q3 24 | 16.5% | 5.6% | ||
| Q2 24 | 92.6% | 1.2% | ||
| Q1 24 | 36.4% | 3.2% |
| Q4 25 | 4.9% | 2.9% | ||
| Q3 25 | 2.8% | 2.4% | ||
| Q2 25 | 16.9% | 2.2% | ||
| Q1 25 | 2.8% | 1.9% | ||
| Q4 24 | 2.0% | 2.9% | ||
| Q3 24 | 5.5% | 2.0% | ||
| Q2 24 | 12.4% | 2.9% | ||
| Q1 24 | 2.9% | 3.4% |
| Q4 25 | 0.81× | 1.86× | ||
| Q3 25 | 1.05× | 1.32× | ||
| Q2 25 | 4.43× | 0.25× | ||
| Q1 25 | 0.70× | 2.60× | ||
| Q4 24 | 1.55× | 0.27× | ||
| Q3 24 | 0.63× | 2.72× | ||
| Q2 24 | 2.91× | 1.35× | ||
| Q1 24 | 1.05× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AX
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
