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Side-by-side financial comparison of Distribution Solutions Group, Inc. (DSGR) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Distribution Solutions Group, Inc. is the larger business by last-quarter revenue ($518.0M vs $335.6M, roughly 1.5× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs 1.2%, a 2.1% gap on every dollar of revenue. On growth, Distribution Solutions Group, Inc. posted the faster year-over-year revenue change (10.7% vs 1.6%). Distribution Solutions Group, Inc. produced more free cash flow last quarter ($32.9M vs $11.6M). Over the past eight quarters, Distribution Solutions Group, Inc.'s revenue compounded faster (13.1% CAGR vs 4.4%).
Univar Solutions Inc. is a global chemical and ingredients distributor and provider of value-added services.
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.
DSGR vs NGVC — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $518.0M | $335.6M |
| Net Profit | $6.5M | $11.3M |
| Gross Margin | 32.9% | 29.5% |
| Operating Margin | 4.6% | 4.4% |
| Net Margin | 1.2% | 3.4% |
| Revenue YoY | 10.7% | 1.6% |
| Net Profit YoY | -70.6% | 14.0% |
| EPS (diluted) | $0.14 | $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 | — | $335.6M | ||
| Q3 25 | $518.0M | $336.1M | ||
| Q2 25 | $502.4M | $328.7M | ||
| Q1 25 | $478.0M | $335.8M | ||
| Q4 24 | $480.5M | $330.2M | ||
| Q3 24 | $468.0M | $322.7M | ||
| Q2 24 | $439.5M | $309.1M | ||
| Q1 24 | $416.1M | $308.1M |
| Q4 25 | — | $11.3M | ||
| Q3 25 | $6.5M | $11.8M | ||
| Q2 25 | $5.0M | $11.6M | ||
| Q1 25 | $3.3M | $13.1M | ||
| Q4 24 | $-25.9M | $9.9M | ||
| Q3 24 | $21.9M | $9.0M | ||
| Q2 24 | $1.9M | $9.2M | ||
| Q1 24 | $-5.2M | $8.0M |
| Q4 25 | — | 29.5% | ||
| Q3 25 | 32.9% | 29.5% | ||
| Q2 25 | 33.9% | 29.9% | ||
| Q1 25 | 34.3% | 30.3% | ||
| Q4 24 | 33.3% | 29.9% | ||
| Q3 24 | 33.9% | 29.6% | ||
| Q2 24 | 34.5% | 29.2% | ||
| Q1 24 | 34.5% | 29.3% |
| Q4 25 | — | 4.4% | ||
| Q3 25 | 4.6% | 4.6% | ||
| Q2 25 | 5.3% | 4.7% | ||
| Q1 25 | 4.2% | 5.2% | ||
| Q4 24 | 4.2% | 4.0% | ||
| Q3 24 | 4.0% | 3.7% | ||
| Q2 24 | 3.2% | 4.2% | ||
| Q1 24 | 0.7% | 3.7% |
| Q4 25 | — | 3.4% | ||
| Q3 25 | 1.2% | 3.5% | ||
| Q2 25 | 1.0% | 3.5% | ||
| Q1 25 | 0.7% | 3.9% | ||
| Q4 24 | -5.4% | 3.0% | ||
| Q3 24 | 4.7% | 2.8% | ||
| Q2 24 | 0.4% | 3.0% | ||
| Q1 24 | -1.3% | 2.6% |
| Q4 25 | — | $0.49 | ||
| Q3 25 | $0.14 | $0.51 | ||
| Q2 25 | $0.11 | $0.50 | ||
| Q1 25 | $0.07 | $0.56 | ||
| Q4 24 | $-0.55 | $0.43 | ||
| Q3 24 | $0.46 | $0.38 | ||
| Q2 24 | $0.04 | $0.40 | ||
| Q1 24 | $-0.11 | $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 | $69.2M | $23.2M |
| Total DebtLower is stronger | $665.5M | — |
| Stockholders' EquityBook value | $653.9M | $220.0M |
| Total Assets | $1.8B | $668.6M |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.2M | ||
| Q3 25 | $69.2M | $17.1M | ||
| Q2 25 | $47.4M | $13.2M | ||
| Q1 25 | $65.4M | $21.2M | ||
| Q4 24 | $66.5M | $6.3M | ||
| Q3 24 | $61.3M | $8.9M | ||
| Q2 24 | $46.8M | $13.9M | ||
| Q1 24 | $73.1M | $11.0M |
| Q4 25 | — | — | ||
| Q3 25 | $665.5M | — | ||
| Q2 25 | $675.0M | — | ||
| Q1 25 | $712.4M | — | ||
| Q4 24 | $693.9M | — | ||
| Q3 24 | $704.1M | — | ||
| Q2 24 | $573.7M | — | ||
| Q1 24 | $535.7M | — |
| Q4 25 | — | $220.0M | ||
| Q3 25 | $653.9M | $212.4M | ||
| Q2 25 | $649.4M | $202.5M | ||
| Q1 25 | $636.7M | $193.0M | ||
| Q4 24 | $640.5M | $181.9M | ||
| Q3 24 | $680.8M | $174.3M | ||
| Q2 24 | $653.3M | $167.8M | ||
| Q1 24 | $654.7M | $160.0M |
| Q4 25 | — | $668.6M | ||
| Q3 25 | $1.8B | $670.5M | ||
| Q2 25 | $1.8B | $659.0M | ||
| Q1 25 | $1.8B | $664.6M | ||
| Q4 24 | $1.7B | $648.9M | ||
| Q3 24 | $1.8B | $655.5M | ||
| Q2 24 | $1.6B | $654.4M | ||
| Q1 24 | $1.5B | $656.6M |
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.12× | — | ||
| Q4 24 | 1.08× | — | ||
| Q3 24 | 1.03× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.82× | — |
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 | $38.4M | $21.1M |
| Free Cash FlowOCF − Capex | $32.9M | $11.6M |
| FCF MarginFCF / Revenue | 6.3% | 3.4% |
| Capex IntensityCapex / Revenue | 1.1% | 2.9% |
| Cash ConversionOCF / Net Profit | 5.95× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $92.2M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $21.1M | ||
| Q3 25 | $38.4M | $15.6M | ||
| Q2 25 | $33.3M | $2.9M | ||
| Q1 25 | $-4.8M | $34.1M | ||
| Q4 24 | $45.7M | $2.7M | ||
| Q3 24 | $-17.3M | $24.5M | ||
| Q2 24 | $21.4M | $12.4M | ||
| Q1 24 | $6.6M | $20.2M |
| Q4 25 | — | $11.6M | ||
| Q3 25 | $32.9M | $7.5M | ||
| Q2 25 | $28.7M | $-4.2M | ||
| Q1 25 | $-10.4M | $27.6M | ||
| Q4 24 | $41.1M | $-6.9M | ||
| Q3 24 | $-20.5M | $18.0M | ||
| Q2 24 | $18.0M | $3.6M | ||
| Q1 24 | $4.2M | $9.8M |
| Q4 25 | — | 3.4% | ||
| Q3 25 | 6.3% | 2.2% | ||
| Q2 25 | 5.7% | -1.3% | ||
| Q1 25 | -2.2% | 8.2% | ||
| Q4 24 | 8.6% | -2.1% | ||
| Q3 24 | -4.4% | 5.6% | ||
| Q2 24 | 4.1% | 1.2% | ||
| Q1 24 | 1.0% | 3.2% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | 1.1% | 2.4% | ||
| Q2 25 | 0.9% | 2.2% | ||
| Q1 25 | 1.2% | 1.9% | ||
| Q4 24 | 1.0% | 2.9% | ||
| Q3 24 | 0.7% | 2.0% | ||
| Q2 24 | 0.8% | 2.9% | ||
| Q1 24 | 0.6% | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | 5.95× | 1.32× | ||
| Q2 25 | 6.66× | 0.25× | ||
| Q1 25 | -1.46× | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | -0.79× | 2.72× | ||
| Q2 24 | 11.28× | 1.35× | ||
| Q1 24 | — | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DSGR
| Test Equity Segment | $206.5M | 40% |
| Gexpro Services Segment | $130.5M | 25% |
| Lawson Segment | $121.5M | 23% |
| Canada Branch Division Segment | $60.0M | 12% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
