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Side-by-side financial comparison of Clearwater Paper Corp (CLW) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Clearwater Paper Corp is the larger business by last-quarter revenue ($360.3M vs $335.6M, roughly 1.1× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -3.6%, a 6.9% 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 -4.7%). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs 2.3%).
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
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.
CLW vs NGVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $360.3M | $335.6M |
| Net Profit | $-12.8M | $11.3M |
| Gross Margin | -0.2% | 29.5% |
| Operating Margin | — | 4.4% |
| Net Margin | -3.6% | 3.4% |
| Revenue YoY | -4.7% | 1.6% |
| Net Profit YoY | -103.2% | 14.0% |
| EPS (diluted) | — | $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.
| Q1 26 | $360.3M | — | ||
| Q4 25 | $386.4M | $335.6M | ||
| Q3 25 | $399.0M | $336.1M | ||
| Q2 25 | $391.8M | $328.7M | ||
| Q1 25 | $378.2M | $335.8M | ||
| Q4 24 | $387.1M | $330.2M | ||
| Q3 24 | $393.3M | $322.7M | ||
| Q2 24 | $344.4M | $309.1M |
| Q1 26 | $-12.8M | — | ||
| Q4 25 | $38.3M | $11.3M | ||
| Q3 25 | $-53.3M | $11.8M | ||
| Q2 25 | $2.7M | $11.6M | ||
| Q1 25 | $-6.3M | $13.1M | ||
| Q4 24 | $199.1M | $9.9M | ||
| Q3 24 | $5.8M | $9.0M | ||
| Q2 24 | $-25.8M | $9.2M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | 29.5% | ||
| Q3 25 | 4.7% | 29.5% | ||
| Q2 25 | 11.0% | 29.9% | ||
| Q1 25 | 9.7% | 30.3% | ||
| Q4 24 | 3.8% | 29.9% | ||
| Q3 24 | 7.7% | 29.6% | ||
| Q2 24 | -0.6% | 29.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 4.4% | ||
| Q3 25 | -13.9% | 4.6% | ||
| Q2 25 | 2.5% | 4.7% | ||
| Q1 25 | -1.1% | 5.2% | ||
| Q4 24 | -4.0% | 4.0% | ||
| Q3 24 | -0.3% | 3.7% | ||
| Q2 24 | -13.6% | 4.2% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | 3.4% | ||
| Q3 25 | -13.4% | 3.5% | ||
| Q2 25 | 0.7% | 3.5% | ||
| Q1 25 | -1.7% | 3.9% | ||
| Q4 24 | 51.4% | 3.0% | ||
| Q3 24 | 1.5% | 2.8% | ||
| Q2 24 | -7.5% | 3.0% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | $0.49 | ||
| Q3 25 | $-3.30 | $0.51 | ||
| Q2 25 | $0.17 | $0.50 | ||
| Q1 25 | $-0.38 | $0.56 | ||
| Q4 24 | $11.87 | $0.43 | ||
| Q3 24 | $0.35 | $0.38 | ||
| Q2 24 | $-1.55 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.5M | $23.2M |
| Total DebtLower is stronger | $361.1M | — |
| Stockholders' EquityBook value | $813.8M | $220.0M |
| Total Assets | $1.6B | $668.6M |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | $23.2M | ||
| Q3 25 | $34.4M | $17.1M | ||
| Q2 25 | $46.7M | $13.2M | ||
| Q1 25 | $44.0M | $21.2M | ||
| Q4 24 | $79.6M | $6.3M | ||
| Q3 24 | $35.5M | $8.9M | ||
| Q2 24 | $39.6M | $13.9M |
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | — | ||
| Q3 25 | $337.0M | — | ||
| Q2 25 | $330.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.4M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | $813.8M | — | ||
| Q4 25 | $825.3M | $220.0M | ||
| Q3 25 | $783.0M | $212.4M | ||
| Q2 25 | $836.8M | $202.5M | ||
| Q1 25 | $836.6M | $193.0M | ||
| Q4 24 | $854.6M | $181.9M | ||
| Q3 24 | $664.6M | $174.3M | ||
| Q2 24 | $658.6M | $167.8M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $668.6M | ||
| Q3 25 | $1.6B | $670.5M | ||
| Q2 25 | $1.6B | $659.0M | ||
| Q1 25 | $1.6B | $664.6M | ||
| Q4 24 | $1.7B | $648.9M | ||
| Q3 24 | $2.5B | $655.5M | ||
| Q2 24 | $2.5B | $654.4M |
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.74× | — |
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 | — | $21.1M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | $21.1M | ||
| Q3 25 | $34.0M | $15.6M | ||
| Q2 25 | $-28.2M | $2.9M | ||
| Q1 25 | $1.5M | $34.1M | ||
| Q4 24 | $-35.1M | $2.7M | ||
| Q3 24 | $16.2M | $24.5M | ||
| Q2 24 | $21.1M | $12.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | $11.6M | ||
| Q3 25 | $15.7M | $7.5M | ||
| Q2 25 | $-51.1M | $-4.2M | ||
| Q1 25 | $-31.2M | $27.6M | ||
| Q4 24 | $-68.1M | $-6.9M | ||
| Q3 24 | $-30.8M | $18.0M | ||
| Q2 24 | $3.0M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | 3.4% | ||
| Q3 25 | 3.9% | 2.2% | ||
| Q2 25 | -13.0% | -1.3% | ||
| Q1 25 | -8.2% | 8.2% | ||
| Q4 24 | -17.6% | -2.1% | ||
| Q3 24 | -7.8% | 5.6% | ||
| Q2 24 | 0.9% | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 2.9% | ||
| Q3 25 | 4.6% | 2.4% | ||
| Q2 25 | 5.8% | 2.2% | ||
| Q1 25 | 8.6% | 1.9% | ||
| Q4 24 | 8.5% | 2.9% | ||
| Q3 24 | 12.0% | 2.0% | ||
| Q2 24 | 5.3% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | -10.44× | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | -0.18× | 0.27× | ||
| Q3 24 | 2.79× | 2.72× | ||
| Q2 24 | — | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLW
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
