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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) 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 $188.4M, roughly 1.8× FTAI Infrastructure Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -79.7%, a 83.1% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (95.9% vs 1.6%). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (49.0% CAGR vs 4.4%).
FTAI Infrastructure Inc. owns, operates and invests in high-quality critical infrastructure assets across core sectors including transportation logistics, midstream energy, and power generation. It primarily serves North American markets, focusing on assets with stable long-term cash flows, contracted revenue streams, and strong market positions to deliver sustainable returns for stakeholders.
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.
FIP vs NGVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $188.4M | $335.6M |
| Net Profit | $-150.2M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | — | 4.4% |
| Net Margin | -79.7% | 3.4% |
| Revenue YoY | 95.9% | 1.6% |
| Net Profit YoY | -387.6% | 14.0% |
| EPS (diluted) | $-1.32 | $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 | $188.4M | — | ||
| Q4 25 | $143.5M | $335.6M | ||
| Q3 25 | $140.6M | $336.1M | ||
| Q2 25 | $122.3M | $328.7M | ||
| Q1 25 | $96.2M | $335.8M | ||
| Q4 24 | $80.8M | $330.2M | ||
| Q3 24 | $83.3M | $322.7M | ||
| Q2 24 | $84.9M | $309.1M |
| Q1 26 | $-150.2M | — | ||
| Q4 25 | $-97.7M | $11.3M | ||
| Q3 25 | $-104.5M | $11.8M | ||
| Q2 25 | $-70.0M | $11.6M | ||
| Q1 25 | $120.2M | $13.1M | ||
| Q4 24 | $-124.7M | $9.9M | ||
| Q3 24 | $-43.0M | $9.0M | ||
| Q2 24 | $-48.1M | $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 | -45.7% | 4.4% | ||
| Q3 25 | -70.8% | 4.6% | ||
| Q2 25 | -56.4% | 4.7% | ||
| Q1 25 | 81.8% | 5.2% | ||
| Q4 24 | -152.7% | 4.0% | ||
| Q3 24 | -51.7% | 3.7% | ||
| Q2 24 | -56.4% | 4.2% |
| Q1 26 | -79.7% | — | ||
| Q4 25 | -68.1% | 3.4% | ||
| Q3 25 | -74.4% | 3.5% | ||
| Q2 25 | -57.2% | 3.5% | ||
| Q1 25 | 125.0% | 3.9% | ||
| Q4 24 | -154.4% | 3.0% | ||
| Q3 24 | -51.6% | 2.8% | ||
| Q2 24 | -56.7% | 3.0% |
| Q1 26 | $-1.32 | — | ||
| Q4 25 | $-1.04 | $0.49 | ||
| Q3 25 | $-1.38 | $0.51 | ||
| Q2 25 | $-0.73 | $0.50 | ||
| Q1 25 | $0.89 | $0.56 | ||
| Q4 24 | $-1.21 | $0.43 | ||
| Q3 24 | $-0.45 | $0.38 | ||
| Q2 24 | $-0.52 | $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 | $37.9M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-122.5K | $220.0M |
| Total Assets | $5.7B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $37.9M | — | ||
| Q4 25 | $57.4M | $23.2M | ||
| Q3 25 | $34.7M | $17.1M | ||
| Q2 25 | $33.6M | $13.2M | ||
| Q1 25 | $26.3M | $21.2M | ||
| Q4 24 | $27.8M | $6.3M | ||
| Q3 24 | $20.3M | $8.9M | ||
| Q2 24 | $33.1M | $13.9M |
| Q1 26 | — | — | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.6B | — |
| Q1 26 | $-122.5K | — | ||
| Q4 25 | $21.3M | $220.0M | ||
| Q3 25 | $181.1M | $212.4M | ||
| Q2 25 | $375.5M | $202.5M | ||
| Q1 25 | $476.2M | $193.0M | ||
| Q4 24 | $202.7M | $181.9M | ||
| Q3 24 | $370.8M | $174.3M | ||
| Q2 24 | $394.8M | $167.8M |
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.7B | $668.6M | ||
| Q3 25 | $5.5B | $670.5M | ||
| Q2 25 | $4.4B | $659.0M | ||
| Q1 25 | $4.1B | $664.6M | ||
| Q4 24 | $2.4B | $648.9M | ||
| Q3 24 | $2.4B | $655.5M | ||
| Q2 24 | $2.5B | $654.4M |
| Q1 26 | — | — | ||
| Q4 25 | 176.99× | — | ||
| Q3 25 | 20.59× | — | ||
| Q2 25 | 8.21× | — | ||
| Q1 25 | 5.79× | — | ||
| Q4 24 | 7.84× | — | ||
| Q3 24 | 4.14× | — | ||
| Q2 24 | 3.94× | — |
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 | $-69.4M | $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 | $-69.4M | — | ||
| Q4 25 | $-2.8M | $21.1M | ||
| Q3 25 | $-24.4M | $15.6M | ||
| Q2 25 | $-5.2M | $2.9M | ||
| Q1 25 | $-85.7M | $34.1M | ||
| Q4 24 | $-8.1M | $2.7M | ||
| Q3 24 | $14.2M | $24.5M | ||
| Q2 24 | $-17.6M | $12.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-68.6M | $11.6M | ||
| Q3 25 | $-90.7M | $7.5M | ||
| Q2 25 | $-87.5M | $-4.2M | ||
| Q1 25 | $-151.7M | $27.6M | ||
| Q4 24 | $-34.3M | $-6.9M | ||
| Q3 24 | $-11.7M | $18.0M | ||
| Q2 24 | $-32.1M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | -47.8% | 3.4% | ||
| Q3 25 | -64.5% | 2.2% | ||
| Q2 25 | -71.6% | -1.3% | ||
| Q1 25 | -157.7% | 8.2% | ||
| Q4 24 | -42.4% | -2.1% | ||
| Q3 24 | -14.0% | 5.6% | ||
| Q2 24 | -37.9% | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 45.9% | 2.9% | ||
| Q3 25 | 47.2% | 2.4% | ||
| Q2 25 | 67.3% | 2.2% | ||
| Q1 25 | 68.6% | 1.9% | ||
| Q4 24 | 32.5% | 2.9% | ||
| Q3 24 | 31.1% | 2.0% | ||
| Q2 24 | 17.2% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | -0.71× | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FIP
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
