vs
Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) 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 $233.0M, roughly 1.4× CSW INDUSTRIALS, INC.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs 3.4%, a 1.0% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 1.6%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $11.6M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs 4.4%).
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.
CSW vs NGVC — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $335.6M |
| Net Profit | $10.3M | $11.3M |
| Gross Margin | 39.7% | 29.5% |
| Operating Margin | 7.4% | 4.4% |
| Net Margin | 4.4% | 3.4% |
| Revenue YoY | 20.3% | 1.6% |
| Net Profit YoY | -61.9% | 14.0% |
| EPS (diluted) | $0.62 | $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 | $233.0M | $335.6M | ||
| Q3 25 | $277.0M | $336.1M | ||
| Q2 25 | $263.6M | $328.7M | ||
| Q1 25 | $230.5M | $335.8M | ||
| Q4 24 | $193.6M | $330.2M | ||
| Q3 24 | $227.9M | $322.7M | ||
| Q2 24 | $226.2M | $309.1M | ||
| Q1 24 | $210.9M | $308.1M |
| Q4 25 | $10.3M | $11.3M | ||
| Q3 25 | $40.7M | $11.8M | ||
| Q2 25 | $40.9M | $11.6M | ||
| Q1 25 | $35.1M | $13.1M | ||
| Q4 24 | $26.9M | $9.9M | ||
| Q3 24 | $36.1M | $9.0M | ||
| Q2 24 | $38.6M | $9.2M | ||
| Q1 24 | $31.8M | $8.0M |
| Q4 25 | 39.7% | 29.5% | ||
| Q3 25 | 43.0% | 29.5% | ||
| Q2 25 | 43.8% | 29.9% | ||
| Q1 25 | 44.2% | 30.3% | ||
| Q4 24 | 41.4% | 29.9% | ||
| Q3 24 | 45.6% | 29.6% | ||
| Q2 24 | 47.5% | 29.2% | ||
| Q1 24 | 44.4% | 29.3% |
| Q4 25 | 7.4% | 4.4% | ||
| Q3 25 | 20.5% | 4.6% | ||
| Q2 25 | 20.8% | 4.7% | ||
| Q1 25 | 19.5% | 5.2% | ||
| Q4 24 | 15.3% | 4.0% | ||
| Q3 24 | 22.6% | 3.7% | ||
| Q2 24 | 24.3% | 4.2% | ||
| Q1 24 | 21.0% | 3.7% |
| Q4 25 | 4.4% | 3.4% | ||
| Q3 25 | 14.7% | 3.5% | ||
| Q2 25 | 15.5% | 3.5% | ||
| Q1 25 | 15.2% | 3.9% | ||
| Q4 24 | 13.9% | 3.0% | ||
| Q3 24 | 15.8% | 2.8% | ||
| Q2 24 | 17.1% | 3.0% | ||
| Q1 24 | 15.1% | 2.6% |
| Q4 25 | $0.62 | $0.49 | ||
| Q3 25 | $2.41 | $0.51 | ||
| Q2 25 | $2.43 | $0.50 | ||
| Q1 25 | $2.05 | $0.56 | ||
| Q4 24 | $1.60 | $0.43 | ||
| Q3 24 | $2.26 | $0.38 | ||
| Q2 24 | $2.47 | $0.40 | ||
| Q1 24 | $2.03 | $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 | $40.2M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $220.0M |
| Total Assets | $2.3B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $23.2M | ||
| Q3 25 | $31.5M | $17.1M | ||
| Q2 25 | $38.0M | $13.2M | ||
| Q1 25 | $225.8M | $21.2M | ||
| Q4 24 | $213.8M | $6.3M | ||
| Q3 24 | $273.2M | $8.9M | ||
| Q2 24 | $18.9M | $13.9M | ||
| Q1 24 | $22.2M | $11.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
| Q4 25 | $1.1B | $220.0M | ||
| Q3 25 | $1.1B | $212.4M | ||
| Q2 25 | $1.1B | $202.5M | ||
| Q1 25 | $1.1B | $193.0M | ||
| Q4 24 | $1.0B | $181.9M | ||
| Q3 24 | $1.0B | $174.3M | ||
| Q2 24 | $650.2M | $167.8M | ||
| Q1 24 | $615.7M | $160.0M |
| Q4 25 | $2.3B | $668.6M | ||
| Q3 25 | $1.5B | $670.5M | ||
| Q2 25 | $1.5B | $659.0M | ||
| Q1 25 | $1.4B | $664.6M | ||
| Q4 24 | $1.4B | $648.9M | ||
| Q3 24 | $1.4B | $655.5M | ||
| Q2 24 | $1.1B | $654.4M | ||
| Q1 24 | $1.0B | $656.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.27× | — |
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 | $28.9M | $21.1M |
| Free Cash FlowOCF − Capex | $22.7M | $11.6M |
| FCF MarginFCF / Revenue | 9.8% | 3.4% |
| Capex IntensityCapex / Revenue | 2.6% | 2.9% |
| Cash ConversionOCF / Net Profit | 2.81× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $21.1M | ||
| Q3 25 | $61.8M | $15.6M | ||
| Q2 25 | $60.6M | $2.9M | ||
| Q1 25 | $27.3M | $34.1M | ||
| Q4 24 | $11.6M | $2.7M | ||
| Q3 24 | $66.8M | $24.5M | ||
| Q2 24 | $62.7M | $12.4M | ||
| Q1 24 | $22.4M | $20.2M |
| Q4 25 | $22.7M | $11.6M | ||
| Q3 25 | $58.7M | $7.5M | ||
| Q2 25 | $57.7M | $-4.2M | ||
| Q1 25 | $22.8M | $27.6M | ||
| Q4 24 | $8.5M | $-6.9M | ||
| Q3 24 | $61.3M | $18.0M | ||
| Q2 24 | $59.6M | $3.6M | ||
| Q1 24 | $17.5M | $9.8M |
| Q4 25 | 9.8% | 3.4% | ||
| Q3 25 | 21.2% | 2.2% | ||
| Q2 25 | 21.9% | -1.3% | ||
| Q1 25 | 9.9% | 8.2% | ||
| Q4 24 | 4.4% | -2.1% | ||
| Q3 24 | 26.9% | 5.6% | ||
| Q2 24 | 26.3% | 1.2% | ||
| Q1 24 | 8.3% | 3.2% |
| Q4 25 | 2.6% | 2.9% | ||
| Q3 25 | 1.1% | 2.4% | ||
| Q2 25 | 1.1% | 2.2% | ||
| Q1 25 | 2.0% | 1.9% | ||
| Q4 24 | 1.6% | 2.9% | ||
| Q3 24 | 2.4% | 2.0% | ||
| Q2 24 | 1.4% | 2.9% | ||
| Q1 24 | 2.3% | 3.4% |
| Q4 25 | 2.81× | 1.86× | ||
| Q3 25 | 1.52× | 1.32× | ||
| Q2 25 | 1.48× | 0.25× | ||
| Q1 25 | 0.78× | 2.60× | ||
| Q4 24 | 0.43× | 0.27× | ||
| Q3 24 | 1.85× | 2.72× | ||
| Q2 24 | 1.62× | 1.35× | ||
| Q1 24 | 0.71× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
