vs
Side-by-side financial comparison of FORUM ENERGY TECHNOLOGIES, INC. (FET) 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 $202.2M, roughly 1.7× FORUM ENERGY TECHNOLOGIES, INC.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs 1.0%, a 2.4% 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 0.6%). FORUM ENERGY TECHNOLOGIES, INC. produced more free cash flow last quarter ($20.9M vs $11.6M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -0.0%).
Forum Energy Technologies is an American oilfield products company that provides products and services to the oil and gas, and renewable industries worldwide.
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.
FET vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $202.2M | $335.6M |
| Net Profit | $2.1M | $11.3M |
| Gross Margin | 30.2% | 29.5% |
| Operating Margin | 6.3% | 4.4% |
| Net Margin | 1.0% | 3.4% |
| Revenue YoY | 0.6% | 1.6% |
| Net Profit YoY | 102.0% | 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 | $202.2M | $335.6M | ||
| Q3 25 | $196.2M | $336.1M | ||
| Q2 25 | $199.8M | $328.7M | ||
| Q1 25 | $193.3M | $335.8M | ||
| Q4 24 | $201.0M | $330.2M | ||
| Q3 24 | $207.8M | $322.7M | ||
| Q2 24 | $205.2M | $309.1M | ||
| Q1 24 | $202.4M | $308.1M |
| Q4 25 | $2.1M | $11.3M | ||
| Q3 25 | $-20.6M | $11.8M | ||
| Q2 25 | $7.7M | $11.6M | ||
| Q1 25 | $1.1M | $13.1M | ||
| Q4 24 | $-103.5M | $9.9M | ||
| Q3 24 | $-14.8M | $9.0M | ||
| Q2 24 | $-6.7M | $9.2M | ||
| Q1 24 | $-10.3M | $8.0M |
| Q4 25 | 30.2% | 29.5% | ||
| Q3 25 | 20.5% | 29.5% | ||
| Q2 25 | 29.7% | 29.9% | ||
| Q1 25 | 30.2% | 30.3% | ||
| Q4 24 | 31.1% | 29.9% | ||
| Q3 24 | 31.6% | 29.6% | ||
| Q2 24 | 30.7% | 29.2% | ||
| Q1 24 | 31.5% | 29.3% |
| Q4 25 | 6.3% | 4.4% | ||
| Q3 25 | -3.1% | 4.6% | ||
| Q2 25 | 7.4% | 4.7% | ||
| Q1 25 | 4.6% | 5.2% | ||
| Q4 24 | -53.1% | 4.0% | ||
| Q3 24 | 4.3% | 3.7% | ||
| Q2 24 | 3.9% | 4.2% | ||
| Q1 24 | 1.6% | 3.7% |
| Q4 25 | 1.0% | 3.4% | ||
| Q3 25 | -10.5% | 3.5% | ||
| Q2 25 | 3.9% | 3.5% | ||
| Q1 25 | 0.6% | 3.9% | ||
| Q4 24 | -51.5% | 3.0% | ||
| Q3 24 | -7.1% | 2.8% | ||
| Q2 24 | -3.3% | 3.0% | ||
| Q1 24 | -5.1% | 2.6% |
| Q4 25 | $0.25 | $0.49 | ||
| Q3 25 | $-1.76 | $0.51 | ||
| Q2 25 | $0.61 | $0.50 | ||
| Q1 25 | $0.09 | $0.56 | ||
| Q4 24 | $-8.41 | $0.43 | ||
| Q3 24 | $-1.20 | $0.38 | ||
| Q2 24 | $-0.54 | $0.40 | ||
| Q1 24 | $-0.85 | $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 | $34.7M | $23.2M |
| Total DebtLower is stronger | $135.9M | — |
| Stockholders' EquityBook value | $291.1M | $220.0M |
| Total Assets | $752.5M | $668.6M |
| Debt / EquityLower = less leverage | 0.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.7M | $23.2M | ||
| Q3 25 | $31.7M | $17.1M | ||
| Q2 25 | $39.0M | $13.2M | ||
| Q1 25 | $31.1M | $21.2M | ||
| Q4 24 | $44.7M | $6.3M | ||
| Q3 24 | $33.3M | $8.9M | ||
| Q2 24 | $31.8M | $13.9M | ||
| Q1 24 | $48.5M | $11.0M |
| Q4 25 | $135.9M | — | ||
| Q3 25 | $140.0M | — | ||
| Q2 25 | $159.3M | — | ||
| Q1 25 | $171.4M | — | ||
| Q4 24 | $188.4M | — | ||
| Q3 24 | $231.5M | — | ||
| Q2 24 | $252.9M | — | ||
| Q1 24 | $287.5M | — |
| Q4 25 | $291.1M | $220.0M | ||
| Q3 25 | $297.3M | $212.4M | ||
| Q2 25 | $334.2M | $202.5M | ||
| Q1 25 | $320.0M | $193.0M | ||
| Q4 24 | $319.9M | $181.9M | ||
| Q3 24 | $443.5M | $174.3M | ||
| Q2 24 | $442.0M | $167.8M | ||
| Q1 24 | $446.2M | $160.0M |
| Q4 25 | $752.5M | $668.6M | ||
| Q3 25 | $770.1M | $670.5M | ||
| Q2 25 | $810.1M | $659.0M | ||
| Q1 25 | $790.1M | $664.6M | ||
| Q4 24 | $816.0M | $648.9M | ||
| Q3 24 | $973.7M | $655.5M | ||
| Q2 24 | $976.8M | $654.4M | ||
| Q1 24 | $1.0B | $656.6M |
| Q4 25 | 0.47× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.54× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.57× | — | ||
| Q1 24 | 0.64× | — |
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 | $22.4M | $21.1M |
| Free Cash FlowOCF − Capex | $20.9M | $11.6M |
| FCF MarginFCF / Revenue | 10.3% | 3.4% |
| Capex IntensityCapex / Revenue | 0.8% | 2.9% |
| Cash ConversionOCF / Net Profit | 10.83× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $64.4M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $21.1M | ||
| Q3 25 | $22.9M | $15.6M | ||
| Q2 25 | $15.8M | $2.9M | ||
| Q1 25 | $9.3M | $34.1M | ||
| Q4 24 | $38.5M | $2.7M | ||
| Q3 24 | $25.6M | $24.5M | ||
| Q2 24 | $23.1M | $12.4M | ||
| Q1 24 | $5.0M | $20.2M |
| Q4 25 | $20.9M | $11.6M | ||
| Q3 25 | $21.5M | $7.5M | ||
| Q2 25 | $14.8M | $-4.2M | ||
| Q1 25 | $7.2M | $27.6M | ||
| Q4 24 | $36.1M | $-6.9M | ||
| Q3 24 | $24.3M | $18.0M | ||
| Q2 24 | $21.6M | $3.6M | ||
| Q1 24 | $2.1M | $9.8M |
| Q4 25 | 10.3% | 3.4% | ||
| Q3 25 | 10.9% | 2.2% | ||
| Q2 25 | 7.4% | -1.3% | ||
| Q1 25 | 3.7% | 8.2% | ||
| Q4 24 | 18.0% | -2.1% | ||
| Q3 24 | 11.7% | 5.6% | ||
| Q2 24 | 10.5% | 1.2% | ||
| Q1 24 | 1.0% | 3.2% |
| Q4 25 | 0.8% | 2.9% | ||
| Q3 25 | 0.7% | 2.4% | ||
| Q2 25 | 0.5% | 2.2% | ||
| Q1 25 | 1.1% | 1.9% | ||
| Q4 24 | 1.2% | 2.9% | ||
| Q3 24 | 0.6% | 2.0% | ||
| Q2 24 | 0.7% | 2.9% | ||
| Q1 24 | 1.4% | 3.4% |
| Q4 25 | 10.83× | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | 2.05× | 0.25× | ||
| Q1 25 | 8.31× | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | — | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FET
| Drilling And Completions Segment | $127.2M | 63% |
| Artificial Lift And Downhole Segment | $75.5M | 37% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
