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Side-by-side financial comparison of Enhabit, Inc. (EHAB) 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 $270.4M, roughly 1.2× Enhabit, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -14.3%, a 17.7% gap on every dollar of revenue. On growth, Enhabit, Inc. posted the faster year-over-year revenue change (4.7% vs 1.6%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $3.3M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs 1.5%).
Enhabit, Inc., is a Dallas, Texas-based provider of home health and hospice services. The company operates 255 home health and 110 hospice locations in 34 states with a concentration in Texas, Alabama, Florida, Georgia, Oklahoma and Mississippi. Enhabit is the fourth-largest provider of home health services in the United States and is a leading provider of hospice services. The company was formed in 2022 when Encompass Health spun off its home health and hospice business.
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.
EHAB vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.4M | $335.6M |
| Net Profit | $-38.7M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | -12.3% | 4.4% |
| Net Margin | -14.3% | 3.4% |
| Revenue YoY | 4.7% | 1.6% |
| Net Profit YoY | 15.9% | 14.0% |
| EPS (diluted) | $-0.76 | $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 | $270.4M | $335.6M | ||
| Q3 25 | $263.6M | $336.1M | ||
| Q2 25 | $266.1M | $328.7M | ||
| Q1 25 | $259.9M | $335.8M | ||
| Q4 24 | $258.2M | $330.2M | ||
| Q3 24 | $253.6M | $322.7M | ||
| Q2 24 | $260.6M | $309.1M | ||
| Q1 24 | $262.4M | $308.1M |
| Q4 25 | $-38.7M | $11.3M | ||
| Q3 25 | $11.1M | $11.8M | ||
| Q2 25 | $5.2M | $11.6M | ||
| Q1 25 | $17.8M | $13.1M | ||
| Q4 24 | $-46.0M | $9.9M | ||
| Q3 24 | $-110.2M | $9.0M | ||
| Q2 24 | $-200.0K | $9.2M | ||
| Q1 24 | $200.0K | $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 | -12.3% | 4.4% | ||
| Q3 25 | 6.4% | 4.6% | ||
| Q2 25 | 6.3% | 4.7% | ||
| Q1 25 | 6.1% | 5.2% | ||
| Q4 24 | -16.0% | 4.0% | ||
| Q3 24 | -38.6% | 3.7% | ||
| Q2 24 | 4.3% | 4.2% | ||
| Q1 24 | 4.9% | 3.7% |
| Q4 25 | -14.3% | 3.4% | ||
| Q3 25 | 4.2% | 3.5% | ||
| Q2 25 | 2.0% | 3.5% | ||
| Q1 25 | 6.8% | 3.9% | ||
| Q4 24 | -17.8% | 3.0% | ||
| Q3 24 | -43.5% | 2.8% | ||
| Q2 24 | -0.1% | 3.0% | ||
| Q1 24 | 0.1% | 2.6% |
| Q4 25 | $-0.76 | $0.49 | ||
| Q3 25 | $0.22 | $0.51 | ||
| Q2 25 | $0.10 | $0.50 | ||
| Q1 25 | $0.35 | $0.56 | ||
| Q4 24 | $-0.92 | $0.43 | ||
| Q3 24 | $-2.20 | $0.38 | ||
| Q2 24 | $0.00 | $0.40 | ||
| Q1 24 | $0.01 | $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 | $43.6M | $23.2M |
| Total DebtLower is stronger | $426.0M | — |
| Stockholders' EquityBook value | $534.0M | $220.0M |
| Total Assets | $1.2B | $668.6M |
| Debt / EquityLower = less leverage | 0.80× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $43.6M | $23.2M | ||
| Q3 25 | $56.9M | $17.1M | ||
| Q2 25 | $37.1M | $13.2M | ||
| Q1 25 | $39.5M | $21.2M | ||
| Q4 24 | $28.4M | $6.3M | ||
| Q3 24 | $45.7M | $8.9M | ||
| Q2 24 | $28.5M | $13.9M | ||
| Q1 24 | $36.5M | $11.0M |
| Q4 25 | $426.0M | — | ||
| Q3 25 | $441.5M | — | ||
| Q2 25 | $456.9M | — | ||
| Q1 25 | $467.3M | — | ||
| Q4 24 | $492.6M | — | ||
| Q3 24 | $502.9M | — | ||
| Q2 24 | $512.7M | — | ||
| Q1 24 | $526.7M | — |
| Q4 25 | $534.0M | $220.0M | ||
| Q3 25 | $566.8M | $212.4M | ||
| Q2 25 | $552.4M | $202.5M | ||
| Q1 25 | $543.2M | $193.0M | ||
| Q4 24 | $523.5M | $181.9M | ||
| Q3 24 | $566.1M | $174.3M | ||
| Q2 24 | $674.3M | $167.8M | ||
| Q1 24 | $672.3M | $160.0M |
| Q4 25 | $1.2B | $668.6M | ||
| Q3 25 | $1.2B | $670.5M | ||
| Q2 25 | $1.2B | $659.0M | ||
| Q1 25 | $1.2B | $664.6M | ||
| Q4 24 | $1.2B | $648.9M | ||
| Q3 24 | $1.3B | $655.5M | ||
| Q2 24 | $1.4B | $654.4M | ||
| Q1 24 | $1.4B | $656.6M |
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.83× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 0.89× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.78× | — |
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 | $4.4M | $21.1M |
| Free Cash FlowOCF − Capex | $3.3M | $11.6M |
| FCF MarginFCF / Revenue | 1.2% | 3.4% |
| Capex IntensityCapex / Revenue | 0.4% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4M | $21.1M | ||
| Q3 25 | $37.8M | $15.6M | ||
| Q2 25 | $10.6M | $2.9M | ||
| Q1 25 | $17.9M | $34.1M | ||
| Q4 24 | $-4.1M | $2.7M | ||
| Q3 24 | $28.4M | $24.5M | ||
| Q2 24 | $9.6M | $12.4M | ||
| Q1 24 | $17.3M | $20.2M |
| Q4 25 | $3.3M | $11.6M | ||
| Q3 25 | $36.2M | $7.5M | ||
| Q2 25 | $8.7M | $-4.2M | ||
| Q1 25 | $17.6M | $27.6M | ||
| Q4 24 | $-4.7M | $-6.9M | ||
| Q3 24 | $27.7M | $18.0M | ||
| Q2 24 | $8.9M | $3.6M | ||
| Q1 24 | $15.5M | $9.8M |
| Q4 25 | 1.2% | 3.4% | ||
| Q3 25 | 13.7% | 2.2% | ||
| Q2 25 | 3.3% | -1.3% | ||
| Q1 25 | 6.8% | 8.2% | ||
| Q4 24 | -1.8% | -2.1% | ||
| Q3 24 | 10.9% | 5.6% | ||
| Q2 24 | 3.4% | 1.2% | ||
| Q1 24 | 5.9% | 3.2% |
| Q4 25 | 0.4% | 2.9% | ||
| Q3 25 | 0.6% | 2.4% | ||
| Q2 25 | 0.7% | 2.2% | ||
| Q1 25 | 0.1% | 1.9% | ||
| Q4 24 | 0.2% | 2.9% | ||
| Q3 24 | 0.3% | 2.0% | ||
| Q2 24 | 0.3% | 2.9% | ||
| Q1 24 | 0.7% | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | 3.41× | 1.32× | ||
| Q2 25 | 2.04× | 0.25× | ||
| Q1 25 | 1.01× | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | 86.50× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EHAB
| Third Party Payor Medicare | $111.6M | 41% |
| Third Party Payor Medicare Advantage | $67.5M | 25% |
| Hospice Segment | $63.6M | 24% |
| Third Party Payor Managed Care | $24.9M | 9% |
| Third Party Payor Medicaid | $1.7M | 1% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
