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Side-by-side financial comparison of Dolby Laboratories, Inc. (DLB) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Dolby Laboratories, Inc. is the larger business by last-quarter revenue ($346.7M vs $335.6M, roughly 1.0× Natural Grocers by Vitamin Cottage, Inc.). Dolby Laboratories, Inc. runs the higher net margin — 15.4% vs 3.4%, a 12.0% 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 -2.9%). Over the past eight quarters, Dolby Laboratories, Inc.'s revenue compounded faster (9.6% CAGR vs 4.4%).
Dolby Laboratories, Inc. is an American technology corporation specializing in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range television (HDR) imaging. Dolby licenses its technologies to consumer electronics manufacturers.
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.
DLB vs NGVC — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $346.7M | $335.6M |
| Net Profit | $53.3M | $11.3M |
| Gross Margin | 87.5% | 29.5% |
| Operating Margin | 17.9% | 4.4% |
| Net Margin | 15.4% | 3.4% |
| Revenue YoY | -2.9% | 1.6% |
| Net Profit YoY | -21.4% | 14.0% |
| EPS (diluted) | $0.55 | $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 | $346.7M | — | ||
| Q4 25 | $346.7M | $335.6M | ||
| Q3 25 | $307.0M | $336.1M | ||
| Q2 25 | $315.5M | $328.7M | ||
| Q1 25 | $369.6M | $335.8M | ||
| Q4 24 | $357.0M | $330.2M | ||
| Q3 24 | $304.8M | $322.7M | ||
| Q2 24 | $288.8M | $309.1M |
| Q1 26 | $53.3M | — | ||
| Q4 25 | $53.3M | $11.3M | ||
| Q3 25 | $49.3M | $11.8M | ||
| Q2 25 | $46.1M | $11.6M | ||
| Q1 25 | $91.8M | $13.1M | ||
| Q4 24 | $67.8M | $9.9M | ||
| Q3 24 | $58.6M | $9.0M | ||
| Q2 24 | $38.4M | $9.2M |
| Q1 26 | 87.5% | — | ||
| Q4 25 | 87.5% | 29.5% | ||
| Q3 25 | 87.1% | 29.5% | ||
| Q2 25 | 86.1% | 29.9% | ||
| Q1 25 | 90.3% | 30.3% | ||
| Q4 24 | 88.6% | 29.9% | ||
| Q3 24 | 88.8% | 29.6% | ||
| Q2 24 | 87.7% | 29.2% |
| Q1 26 | 17.9% | — | ||
| Q4 25 | 17.9% | 4.4% | ||
| Q3 25 | 9.7% | 4.6% | ||
| Q2 25 | 15.1% | 4.7% | ||
| Q1 25 | 29.2% | 5.2% | ||
| Q4 24 | 22.4% | 4.0% | ||
| Q3 24 | 15.2% | 3.7% | ||
| Q2 24 | 12.7% | 4.2% |
| Q1 26 | 15.4% | — | ||
| Q4 25 | 15.4% | 3.4% | ||
| Q3 25 | 16.1% | 3.5% | ||
| Q2 25 | 14.6% | 3.5% | ||
| Q1 25 | 24.8% | 3.9% | ||
| Q4 24 | 19.0% | 3.0% | ||
| Q3 24 | 19.2% | 2.8% | ||
| Q2 24 | 13.3% | 3.0% |
| Q1 26 | $0.55 | — | ||
| Q4 25 | $0.55 | $0.49 | ||
| Q3 25 | $0.50 | $0.51 | ||
| Q2 25 | $0.48 | $0.50 | ||
| Q1 25 | $0.94 | $0.56 | ||
| Q4 24 | $0.70 | $0.43 | ||
| Q3 24 | $0.59 | $0.38 | ||
| Q2 24 | $0.40 | $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 | $644.6M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $220.0M |
| Total Assets | $3.2B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $644.6M | — | ||
| Q4 25 | $644.6M | $23.2M | ||
| Q3 25 | $702.6M | $17.1M | ||
| Q2 25 | $699.3M | $13.2M | ||
| Q1 25 | $626.6M | $21.2M | ||
| Q4 24 | $520.8M | $6.3M | ||
| Q3 24 | $482.0M | $8.9M | ||
| Q2 24 | $869.0M | $13.9M |
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $220.0M | ||
| Q3 25 | $2.6B | $212.4M | ||
| Q2 25 | $2.6B | $202.5M | ||
| Q1 25 | $2.6B | $193.0M | ||
| Q4 24 | $2.5B | $181.9M | ||
| Q3 24 | $2.5B | $174.3M | ||
| Q2 24 | $2.4B | $167.8M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $668.6M | ||
| Q3 25 | $3.2B | $670.5M | ||
| Q2 25 | $3.2B | $659.0M | ||
| Q1 25 | $3.2B | $664.6M | ||
| Q4 24 | $3.2B | $648.9M | ||
| Q3 24 | $3.1B | $655.5M | ||
| Q2 24 | $3.0B | $654.4M |
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 | $54.8M | $21.1M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | 1.03× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $54.8M | — | ||
| Q4 25 | $54.8M | $21.1M | ||
| Q3 25 | $472.2M | $15.6M | ||
| Q2 25 | $67.7M | $2.9M | ||
| Q1 25 | $174.9M | $34.1M | ||
| Q4 24 | $106.8M | $2.7M | ||
| Q3 24 | $327.3M | $24.5M | ||
| Q2 24 | $21.3M | $12.4M |
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | $11.6M | ||
| Q3 25 | $435.9M | $7.5M | ||
| Q2 25 | $61.3M | $-4.2M | ||
| Q1 25 | $168.0M | $27.6M | ||
| Q4 24 | $100.0M | $-6.9M | ||
| Q3 24 | $297.2M | $18.0M | ||
| Q2 24 | $13.7M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | 14.5% | 3.4% | ||
| Q3 25 | 142.0% | 2.2% | ||
| Q2 25 | 19.4% | -1.3% | ||
| Q1 25 | 45.5% | 8.2% | ||
| Q4 24 | 28.0% | -2.1% | ||
| Q3 24 | 97.5% | 5.6% | ||
| Q2 24 | 4.7% | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 2.9% | ||
| Q3 25 | 11.8% | 2.4% | ||
| Q2 25 | 2.0% | 2.2% | ||
| Q1 25 | 1.9% | 1.9% | ||
| Q4 24 | 1.9% | 2.9% | ||
| Q3 24 | 9.8% | 2.0% | ||
| Q2 24 | 2.6% | 2.9% |
| Q1 26 | 1.03× | — | ||
| Q4 25 | 1.03× | 1.86× | ||
| Q3 25 | 9.57× | 1.32× | ||
| Q2 25 | 1.47× | 0.25× | ||
| Q1 25 | 1.91× | 2.60× | ||
| Q4 24 | 1.57× | 0.27× | ||
| Q3 24 | 5.59× | 2.72× | ||
| Q2 24 | 0.55× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLB
| Licensing | $319.8M | 92% |
| Products and services | $26.9M | 8% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
