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Side-by-side financial comparison of BALCHEM CORP (BCPC) 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 $263.6M, roughly 1.3× BALCHEM CORP). BALCHEM CORP runs the higher net margin — 14.9% vs 3.4%, a 11.5% gap on every dollar of revenue. On growth, BALCHEM CORP posted the faster year-over-year revenue change (9.8% vs 1.6%). Over the past eight quarters, BALCHEM CORP's revenue compounded faster (4.9% CAGR vs 4.4%).
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
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.
BCPC vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $263.6M | $335.6M |
| Net Profit | $39.2M | $11.3M |
| Gross Margin | 35.6% | 29.5% |
| Operating Margin | 19.8% | 4.4% |
| Net Margin | 14.9% | 3.4% |
| Revenue YoY | 9.8% | 1.6% |
| Net Profit YoY | 16.8% | 14.0% |
| EPS (diluted) | $1.21 | $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 | $263.6M | $335.6M | ||
| Q3 25 | $267.6M | $336.1M | ||
| Q2 25 | $255.5M | $328.7M | ||
| Q1 25 | $250.5M | $335.8M | ||
| Q4 24 | $240.0M | $330.2M | ||
| Q3 24 | $239.9M | $322.7M | ||
| Q2 24 | $234.1M | $309.1M | ||
| Q1 24 | $239.7M | $308.1M |
| Q4 25 | $39.2M | $11.3M | ||
| Q3 25 | $40.3M | $11.8M | ||
| Q2 25 | $38.3M | $11.6M | ||
| Q1 25 | $37.1M | $13.1M | ||
| Q4 24 | $33.6M | $9.9M | ||
| Q3 24 | $33.8M | $9.0M | ||
| Q2 24 | $32.1M | $9.2M | ||
| Q1 24 | $29.0M | $8.0M |
| Q4 25 | 35.6% | 29.5% | ||
| Q3 25 | 35.7% | 29.5% | ||
| Q2 25 | 36.4% | 29.9% | ||
| Q1 25 | 35.2% | 30.3% | ||
| Q4 24 | 36.0% | 29.9% | ||
| Q3 24 | 35.6% | 29.6% | ||
| Q2 24 | 35.5% | 29.2% | ||
| Q1 24 | 34.0% | 29.3% |
| Q4 25 | 19.8% | 4.4% | ||
| Q3 25 | 20.4% | 4.6% | ||
| Q2 25 | 20.1% | 4.7% | ||
| Q1 25 | 20.4% | 5.2% | ||
| Q4 24 | 19.8% | 4.0% | ||
| Q3 24 | 20.0% | 3.7% | ||
| Q2 24 | 19.6% | 4.2% | ||
| Q1 24 | 17.4% | 3.7% |
| Q4 25 | 14.9% | 3.4% | ||
| Q3 25 | 15.1% | 3.5% | ||
| Q2 25 | 15.0% | 3.5% | ||
| Q1 25 | 14.8% | 3.9% | ||
| Q4 24 | 14.0% | 3.0% | ||
| Q3 24 | 14.1% | 2.8% | ||
| Q2 24 | 13.7% | 3.0% | ||
| Q1 24 | 12.1% | 2.6% |
| Q4 25 | $1.21 | $0.49 | ||
| Q3 25 | $1.24 | $0.51 | ||
| Q2 25 | $1.17 | $0.50 | ||
| Q1 25 | $1.13 | $0.56 | ||
| Q4 24 | $1.03 | $0.43 | ||
| Q3 24 | $1.03 | $0.38 | ||
| Q2 24 | $0.98 | $0.40 | ||
| Q1 24 | $0.89 | $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 | $74.6M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $220.0M |
| Total Assets | $1.7B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $23.2M | ||
| Q3 25 | $65.1M | $17.1M | ||
| Q2 25 | $65.4M | $13.2M | ||
| Q1 25 | $49.9M | $21.2M | ||
| Q4 24 | $49.5M | $6.3M | ||
| Q3 24 | $73.7M | $8.9M | ||
| Q2 24 | $63.7M | $13.9M | ||
| Q1 24 | $60.3M | $11.0M |
| Q4 25 | $1.3B | $220.0M | ||
| Q3 25 | $1.3B | $212.4M | ||
| Q2 25 | $1.3B | $202.5M | ||
| Q1 25 | $1.2B | $193.0M | ||
| Q4 24 | $1.1B | $181.9M | ||
| Q3 24 | $1.2B | $174.3M | ||
| Q2 24 | $1.1B | $167.8M | ||
| Q1 24 | $1.1B | $160.0M |
| Q4 25 | $1.7B | $668.6M | ||
| Q3 25 | $1.7B | $670.5M | ||
| Q2 25 | $1.7B | $659.0M | ||
| Q1 25 | $1.6B | $664.6M | ||
| Q4 24 | $1.6B | $648.9M | ||
| Q3 24 | $1.6B | $655.5M | ||
| Q2 24 | $1.6B | $654.4M | ||
| Q1 24 | $1.6B | $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 | $67.3M | $21.1M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | 1.72× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.3M | $21.1M | ||
| Q3 25 | $65.6M | $15.6M | ||
| Q2 25 | $47.3M | $2.9M | ||
| Q1 25 | $36.5M | $34.1M | ||
| Q4 24 | $52.3M | $2.7M | ||
| Q3 24 | $51.3M | $24.5M | ||
| Q2 24 | $45.0M | $12.4M | ||
| Q1 24 | $33.4M | $20.2M |
| Q4 25 | — | $11.6M | ||
| Q3 25 | — | $7.5M | ||
| Q2 25 | — | $-4.2M | ||
| Q1 25 | — | $27.6M | ||
| Q4 24 | — | $-6.9M | ||
| Q3 24 | — | $18.0M | ||
| Q2 24 | — | $3.6M | ||
| Q1 24 | — | $9.8M |
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | -1.3% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | -2.1% | ||
| Q3 24 | — | 5.6% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 2.9% | ||
| Q1 24 | — | 3.4% |
| Q4 25 | 1.72× | 1.86× | ||
| Q3 25 | 1.63× | 1.32× | ||
| Q2 25 | 1.23× | 0.25× | ||
| Q1 25 | 0.98× | 2.60× | ||
| Q4 24 | 1.56× | 0.27× | ||
| Q3 24 | 1.52× | 2.72× | ||
| Q2 24 | 1.40× | 1.35× | ||
| Q1 24 | 1.15× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BCPC
| Human Nutrition And Health | $166.1M | 63% |
| Animal Nutrition And Health | $61.2M | 23% |
| Specialty Products | $34.8M | 13% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
