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Side-by-side financial comparison of DONEGAL GROUP INC (DGICA) 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 $239.8M, roughly 1.4× DONEGAL GROUP INC). DONEGAL GROUP INC runs the higher net margin — 7.2% vs 3.4%, a 3.8% 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 -4.1%). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -0.3%).
Donegal Group Inc. is a regional US insurance holding company offering personal and commercial property and casualty insurance products. It serves Mid-Atlantic, Midwest, and Southern US customers, delivering tailored coverage for individuals, families, and small to medium businesses.
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.
DGICA vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $239.8M | $335.6M |
| Net Profit | $17.2M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | 8.7% | 4.4% |
| Net Margin | 7.2% | 3.4% |
| Revenue YoY | -4.1% | 1.6% |
| Net Profit YoY | -28.4% | 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.
| Q4 25 | $239.8M | $335.6M | ||
| Q3 25 | $245.9M | $336.1M | ||
| Q2 25 | $247.1M | $328.7M | ||
| Q1 25 | $245.2M | $335.8M | ||
| Q4 24 | $250.0M | $330.2M | ||
| Q3 24 | $251.7M | $322.7M | ||
| Q2 24 | $246.8M | $309.1M | ||
| Q1 24 | $241.1M | $308.1M |
| Q4 25 | $17.2M | $11.3M | ||
| Q3 25 | $20.1M | $11.8M | ||
| Q2 25 | $16.9M | $11.6M | ||
| Q1 25 | $25.2M | $13.1M | ||
| Q4 24 | $24.0M | $9.9M | ||
| Q3 24 | $16.8M | $9.0M | ||
| Q2 24 | $4.2M | $9.2M | ||
| Q1 24 | $6.0M | $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 | 8.7% | 4.4% | ||
| Q3 25 | 10.2% | 4.6% | ||
| Q2 25 | 8.3% | 4.7% | ||
| Q1 25 | 12.7% | 5.2% | ||
| Q4 24 | 11.9% | 4.0% | ||
| Q3 24 | 8.1% | 3.7% | ||
| Q2 24 | 2.0% | 4.2% | ||
| Q1 24 | 3.0% | 3.7% |
| Q4 25 | 7.2% | 3.4% | ||
| Q3 25 | 8.2% | 3.5% | ||
| Q2 25 | 6.8% | 3.5% | ||
| Q1 25 | 10.3% | 3.9% | ||
| Q4 24 | 9.6% | 3.0% | ||
| Q3 24 | 6.7% | 2.8% | ||
| Q2 24 | 1.7% | 3.0% | ||
| Q1 24 | 2.5% | 2.6% |
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.51 | ||
| Q2 25 | — | $0.50 | ||
| Q1 25 | — | $0.56 | ||
| Q4 24 | — | $0.43 | ||
| Q3 24 | — | $0.38 | ||
| Q2 24 | — | $0.40 | ||
| Q1 24 | — | $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 | — | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $640.4M | $220.0M |
| Total Assets | $2.4B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $17.1M | ||
| Q2 25 | — | $13.2M | ||
| Q1 25 | — | $21.2M | ||
| Q4 24 | — | $6.3M | ||
| Q3 24 | — | $8.9M | ||
| Q2 24 | — | $13.9M | ||
| Q1 24 | — | $11.0M |
| Q4 25 | $640.4M | $220.0M | ||
| Q3 25 | $627.4M | $212.4M | ||
| Q2 25 | $605.7M | $202.5M | ||
| Q1 25 | $584.7M | $193.0M | ||
| Q4 24 | $545.8M | $181.9M | ||
| Q3 24 | $513.4M | $174.3M | ||
| Q2 24 | $484.1M | $167.8M | ||
| Q1 24 | $485.1M | $160.0M |
| Q4 25 | $2.4B | $668.6M | ||
| Q3 25 | $2.4B | $670.5M | ||
| Q2 25 | $2.4B | $659.0M | ||
| Q1 25 | $2.4B | $664.6M | ||
| Q4 24 | $2.3B | $648.9M | ||
| Q3 24 | $2.3B | $655.5M | ||
| Q2 24 | $2.3B | $654.4M | ||
| Q1 24 | $2.3B | $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 | $70.2M | $21.1M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | 4.08× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.2M | $21.1M | ||
| Q3 25 | $22.4M | $15.6M | ||
| Q2 25 | $12.1M | $2.9M | ||
| Q1 25 | $25.7M | $34.1M | ||
| Q4 24 | $67.4M | $2.7M | ||
| Q3 24 | $12.7M | $24.5M | ||
| Q2 24 | $21.7M | $12.4M | ||
| Q1 24 | $4.8M | $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 | 4.08× | 1.86× | ||
| Q3 25 | 1.11× | 1.32× | ||
| Q2 25 | 0.72× | 0.25× | ||
| Q1 25 | 1.02× | 2.60× | ||
| Q4 24 | 2.81× | 0.27× | ||
| Q3 24 | 0.76× | 2.72× | ||
| Q2 24 | 5.22× | 1.35× | ||
| Q1 24 | 0.81× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DGICA
| Commercial Lines Segment | $140.8M | 59% |
| Personal Lines Segment | $86.0M | 36% |
| Investments Function Segment | $12.4M | 5% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
