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Side-by-side financial comparison of Employers Holdings, Inc. (EIG) 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 $170.5M, roughly 2.0× Employers Holdings, Inc.). On growth, Natural Grocers by Vitamin Cottage, Inc. posted the faster year-over-year revenue change (1.6% vs -21.3%). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -11.4%).
Employers Holdings, Inc. is a U.S.-headquartered insurance holding company that specializes in offering workers' compensation insurance and customized risk management services primarily for small and medium-sized enterprises across the United States. It mainly serves clients in low-to-medium hazard industries, helping them mitigate workplace safety risks and meet relevant regulatory requirements for employee protection.
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.
EIG vs NGVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $170.5M | $335.6M |
| Net Profit | — | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | — | 4.4% |
| Net Margin | — | 3.4% |
| Revenue YoY | -21.3% | 1.6% |
| Net Profit YoY | — | 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.
| Q1 26 | $170.5M | — | ||
| Q4 25 | $188.5M | $335.6M | ||
| Q3 25 | $239.3M | $336.1M | ||
| Q2 25 | $246.3M | $328.7M | ||
| Q1 25 | $202.6M | $335.8M | ||
| Q4 24 | $216.6M | $330.2M | ||
| Q3 24 | $224.0M | $322.7M | ||
| Q2 24 | $217.0M | $309.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $11.3M | ||
| Q3 25 | $-8.3M | $11.8M | ||
| Q2 25 | $29.7M | $11.6M | ||
| Q1 25 | $12.8M | $13.1M | ||
| Q4 24 | — | $9.9M | ||
| Q3 24 | $30.3M | $9.0M | ||
| Q2 24 | $31.7M | $9.2M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | 4.4% | ||
| Q3 25 | -4.7% | 4.6% | ||
| Q2 25 | 15.0% | 4.7% | ||
| Q1 25 | 7.8% | 5.2% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | 16.4% | 3.7% | ||
| Q2 24 | 18.4% | 4.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | -3.5% | 3.5% | ||
| Q2 25 | 12.1% | 3.5% | ||
| Q1 25 | 6.3% | 3.9% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | 13.5% | 2.8% | ||
| Q2 24 | 14.6% | 3.0% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $0.49 | ||
| Q3 25 | $-0.36 | $0.51 | ||
| Q2 25 | $1.23 | $0.50 | ||
| Q1 25 | $0.52 | $0.56 | ||
| Q4 24 | $1.14 | $0.43 | ||
| Q3 24 | $1.21 | $0.38 | ||
| Q2 24 | $1.25 | $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 | $169.9M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $955.7M | $220.0M |
| Total Assets | $3.4B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $169.9M | — | ||
| Q4 25 | $169.9M | $23.2M | ||
| Q3 25 | $172.4M | $17.1M | ||
| Q2 25 | $78.1M | $13.2M | ||
| Q1 25 | $100.4M | $21.2M | ||
| Q4 24 | $68.4M | $6.3M | ||
| Q3 24 | $173.9M | $8.9M | ||
| Q2 24 | $126.4M | $13.9M |
| Q1 26 | — | — | ||
| Q4 25 | $19.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $955.7M | — | ||
| Q4 25 | $955.7M | $220.0M | ||
| Q3 25 | $1.0B | $212.4M | ||
| Q2 25 | $1.1B | $202.5M | ||
| Q1 25 | $1.1B | $193.0M | ||
| Q4 24 | $1.1B | $181.9M | ||
| Q3 24 | $1.1B | $174.3M | ||
| Q2 24 | $1.0B | $167.8M |
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $668.6M | ||
| Q3 25 | $3.5B | $670.5M | ||
| Q2 25 | $3.5B | $659.0M | ||
| Q1 25 | $3.6B | $664.6M | ||
| Q4 24 | $3.5B | $648.9M | ||
| Q3 24 | $3.6B | $655.5M | ||
| Q2 24 | $3.5B | $654.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.02× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $21.1M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $44.7M | $21.1M | ||
| Q3 25 | $29.4M | $15.6M | ||
| Q2 25 | $0 | $2.9M | ||
| Q1 25 | $14.6M | $34.1M | ||
| Q4 24 | $76.4M | $2.7M | ||
| Q3 24 | $51.0M | $24.5M | ||
| Q2 24 | $11.7M | $12.4M |
| Q1 26 | — | — | ||
| Q4 25 | $44.6M | $11.6M | ||
| Q3 25 | — | $7.5M | ||
| Q2 25 | — | $-4.2M | ||
| Q1 25 | — | $27.6M | ||
| Q4 24 | $76.3M | $-6.9M | ||
| Q3 24 | — | $18.0M | ||
| Q2 24 | — | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | 3.4% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | -1.3% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | 35.2% | -2.1% | ||
| Q3 24 | — | 5.6% | ||
| Q2 24 | — | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 2.9% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | 0.0% | 2.9% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | 0.00× | 0.25× | ||
| Q1 25 | 1.14× | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | 1.68× | 2.72× | ||
| Q2 24 | 0.37× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EIG
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
