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Side-by-side financial comparison of DELUXE CORP (DLX) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
DELUXE CORP is the larger business by last-quarter revenue ($535.2M vs $335.6M, roughly 1.6× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs 2.2%, a 1.1% gap on every dollar of revenue. On growth, DELUXE CORP posted the faster year-over-year revenue change (2.8% vs 1.6%). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs 0.0%).
Deluxe Corporation is an American company that provides payment processing, data services, checks and promotional products, and merchant services. It operates in four divisions: B2B payments, data, print, and merchant services. As of 2025, the company serves millions of small businesses and thousands of financial institutions, processing more than $2.8 trillion in payments annually. While its legacy business centers on check printing and other printed products, payments and data services now ...
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.
DLX vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $535.2M | $335.6M |
| Net Profit | $12.0M | $11.3M |
| Gross Margin | 52.2% | 29.5% |
| Operating Margin | 8.9% | 4.4% |
| Net Margin | 2.2% | 3.4% |
| Revenue YoY | 2.8% | 1.6% |
| Net Profit YoY | -5.0% | 14.0% |
| EPS (diluted) | $0.25 | $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 | $535.2M | $335.6M | ||
| Q3 25 | $540.2M | $336.1M | ||
| Q2 25 | $521.3M | $328.7M | ||
| Q1 25 | $536.5M | $335.8M | ||
| Q4 24 | $520.6M | $330.2M | ||
| Q3 24 | $528.4M | $322.7M | ||
| Q2 24 | $537.8M | $309.1M | ||
| Q1 24 | $535.0M | $308.1M |
| Q4 25 | $12.0M | $11.3M | ||
| Q3 25 | $33.7M | $11.8M | ||
| Q2 25 | $22.4M | $11.6M | ||
| Q1 25 | $14.0M | $13.1M | ||
| Q4 24 | $12.6M | $9.9M | ||
| Q3 24 | $8.9M | $9.0M | ||
| Q2 24 | $20.5M | $9.2M | ||
| Q1 24 | $10.8M | $8.0M |
| Q4 25 | 52.2% | 29.5% | ||
| Q3 25 | 53.9% | 29.5% | ||
| Q2 25 | 53.6% | 29.9% | ||
| Q1 25 | 52.4% | 30.3% | ||
| Q4 24 | 52.3% | 29.9% | ||
| Q3 24 | 53.3% | 29.6% | ||
| Q2 24 | 53.7% | 29.2% | ||
| Q1 24 | 53.0% | 29.3% |
| Q4 25 | 8.9% | 4.4% | ||
| Q3 25 | 14.0% | 4.6% | ||
| Q2 25 | 11.7% | 4.7% | ||
| Q1 25 | 9.0% | 5.2% | ||
| Q4 24 | 9.0% | 4.0% | ||
| Q3 24 | 7.9% | 3.7% | ||
| Q2 24 | 11.0% | 4.2% | ||
| Q1 24 | 8.3% | 3.7% |
| Q4 25 | 2.2% | 3.4% | ||
| Q3 25 | 6.2% | 3.5% | ||
| Q2 25 | 4.3% | 3.5% | ||
| Q1 25 | 2.6% | 3.9% | ||
| Q4 24 | 2.4% | 3.0% | ||
| Q3 24 | 1.7% | 2.8% | ||
| Q2 24 | 3.8% | 3.0% | ||
| Q1 24 | 2.0% | 2.6% |
| Q4 25 | $0.25 | $0.49 | ||
| Q3 25 | $0.74 | $0.51 | ||
| Q2 25 | $0.50 | $0.50 | ||
| Q1 25 | $0.31 | $0.56 | ||
| Q4 24 | $0.28 | $0.43 | ||
| Q3 24 | $0.20 | $0.38 | ||
| Q2 24 | $0.46 | $0.40 | ||
| Q1 24 | $0.24 | $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 | $36.9M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $680.7M | $220.0M |
| Total Assets | $2.9B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.9M | $23.2M | ||
| Q3 25 | $25.8M | $17.1M | ||
| Q2 25 | $26.0M | $13.2M | ||
| Q1 25 | $30.3M | $21.2M | ||
| Q4 24 | $34.4M | $6.3M | ||
| Q3 24 | $41.3M | $8.9M | ||
| Q2 24 | $23.1M | $13.9M | ||
| Q1 24 | $23.5M | $11.0M |
| Q4 25 | $680.7M | $220.0M | ||
| Q3 25 | $664.1M | $212.4M | ||
| Q2 25 | $638.7M | $202.5M | ||
| Q1 25 | $622.5M | $193.0M | ||
| Q4 24 | $620.9M | $181.9M | ||
| Q3 24 | $612.7M | $174.3M | ||
| Q2 24 | $620.5M | $167.8M | ||
| Q1 24 | $608.4M | $160.0M |
| Q4 25 | $2.9B | $668.6M | ||
| Q3 25 | $2.6B | $670.5M | ||
| Q2 25 | $2.5B | $659.0M | ||
| Q1 25 | $2.6B | $664.6M | ||
| Q4 24 | $2.8B | $648.9M | ||
| Q3 24 | $2.6B | $655.5M | ||
| Q2 24 | $2.7B | $654.4M | ||
| Q1 24 | $2.7B | $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 | $102.1M | $21.1M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | 8.53× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $102.1M | $21.1M | ||
| Q3 25 | $67.1M | $15.6M | ||
| Q2 25 | $51.1M | $2.9M | ||
| Q1 25 | $50.3M | $34.1M | ||
| Q4 24 | $60.2M | $2.7M | ||
| Q3 24 | $67.9M | $24.5M | ||
| Q2 24 | $39.6M | $12.4M | ||
| Q1 24 | $26.6M | $20.2M |
| Q4 25 | — | $11.6M | ||
| Q3 25 | — | $7.5M | ||
| Q2 25 | $27.8M | $-4.2M | ||
| Q1 25 | $24.3M | $27.6M | ||
| Q4 24 | — | $-6.9M | ||
| Q3 24 | $46.7M | $18.0M | ||
| Q2 24 | $11.4M | $3.6M | ||
| Q1 24 | $6.1M | $9.8M |
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | 5.3% | -1.3% | ||
| Q1 25 | 4.5% | 8.2% | ||
| Q4 24 | — | -2.1% | ||
| Q3 24 | 8.8% | 5.6% | ||
| Q2 24 | 2.1% | 1.2% | ||
| Q1 24 | 1.1% | 3.2% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | 4.5% | 2.2% | ||
| Q1 25 | 4.8% | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | 4.0% | 2.0% | ||
| Q2 24 | 5.2% | 2.9% | ||
| Q1 24 | 3.8% | 3.4% |
| Q4 25 | 8.53× | 1.86× | ||
| Q3 25 | 1.99× | 1.32× | ||
| Q2 25 | 2.28× | 0.25× | ||
| Q1 25 | 3.59× | 2.60× | ||
| Q4 24 | 4.77× | 0.27× | ||
| Q3 24 | 7.60× | 2.72× | ||
| Q2 24 | 1.94× | 1.35× | ||
| Q1 24 | 2.46× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLX
| Services | $247.9M | 46% |
| B2B Payments | $76.3M | 14% |
| Datadrivenmarketingsolutions | $68.5M | 13% |
| Promotional Solutions Revenue | $60.9M | 11% |
| Treasurymanagementsolutions | $59.8M | 11% |
| Other | $17.3M | 3% |
| Other Web Based Solutions | $4.6M | 1% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
