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Side-by-side financial comparison of FOX FACTORY HOLDING CORP (FOXF) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
FOX FACTORY HOLDING CORP is the larger business by last-quarter revenue ($376.4M vs $335.6M, roughly 1.1× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -0.2%, a 3.5% gap on every dollar of revenue. On growth, FOX FACTORY HOLDING CORP posted the faster year-over-year revenue change (4.8% vs 1.6%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-2.5M). Over the past eight quarters, FOX FACTORY HOLDING CORP's revenue compounded faster (6.4% CAGR vs 4.4%).
Fox Factory Holding Corp. is an American company best known for their Fox Racing Shox brand of off-road racing suspension components.
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.
FOXF vs NGVC — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $376.4M | $335.6M |
| Net Profit | $-634.0K | $11.3M |
| Gross Margin | 30.4% | 29.5% |
| Operating Margin | 4.0% | 4.4% |
| Net Margin | -0.2% | 3.4% |
| Revenue YoY | 4.8% | 1.6% |
| Net Profit YoY | -113.3% | 14.0% |
| EPS (diluted) | $-0.02 | $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 | $376.4M | $335.6M | ||
| Q3 25 | $374.9M | $336.1M | ||
| Q2 25 | $355.0M | $328.7M | ||
| Q1 25 | $352.8M | $335.8M | ||
| Q4 24 | — | $330.2M | ||
| Q3 24 | $359.1M | $322.7M | ||
| Q2 24 | $348.5M | $309.1M | ||
| Q1 24 | $333.5M | $308.1M |
| Q4 25 | $-634.0K | $11.3M | ||
| Q3 25 | $2.7M | $11.8M | ||
| Q2 25 | $-259.7M | $11.6M | ||
| Q1 25 | $-141.0K | $13.1M | ||
| Q4 24 | — | $9.9M | ||
| Q3 24 | $4.8M | $9.0M | ||
| Q2 24 | $5.4M | $9.2M | ||
| Q1 24 | $-3.5M | $8.0M |
| Q4 25 | 30.4% | 29.5% | ||
| Q3 25 | 31.2% | 29.5% | ||
| Q2 25 | 30.9% | 29.9% | ||
| Q1 25 | 28.9% | 30.3% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | 29.9% | 29.6% | ||
| Q2 24 | 31.8% | 29.2% | ||
| Q1 24 | 30.9% | 29.3% |
| Q4 25 | 4.0% | 4.4% | ||
| Q3 25 | 4.9% | 4.6% | ||
| Q2 25 | -70.6% | 4.7% | ||
| Q1 25 | 3.2% | 5.2% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | 5.2% | 3.7% | ||
| Q2 24 | 5.3% | 4.2% | ||
| Q1 24 | 2.7% | 3.7% |
| Q4 25 | -0.2% | 3.4% | ||
| Q3 25 | 0.7% | 3.5% | ||
| Q2 25 | -73.1% | 3.5% | ||
| Q1 25 | -0.0% | 3.9% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | 1.3% | 2.8% | ||
| Q2 24 | 1.6% | 3.0% | ||
| Q1 24 | -1.0% | 2.6% |
| Q4 25 | $-0.02 | $0.49 | ||
| Q3 25 | $0.07 | $0.51 | ||
| Q2 25 | $-6.23 | $0.50 | ||
| Q1 25 | $0.00 | $0.56 | ||
| Q4 24 | — | $0.43 | ||
| Q3 24 | $0.11 | $0.38 | ||
| Q2 24 | $0.13 | $0.40 | ||
| Q1 24 | $-0.08 | $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 | — | $23.2M |
| Total DebtLower is stronger | $536.7M | — |
| Stockholders' EquityBook value | $956.0M | $220.0M |
| Total Assets | $2.0B | $668.6M |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $17.1M | ||
| Q2 25 | — | $13.2M | ||
| Q1 25 | $71.7M | $21.2M | ||
| Q4 24 | — | $6.3M | ||
| Q3 24 | — | $8.9M | ||
| Q2 24 | — | $13.9M | ||
| Q1 24 | — | $11.0M |
| Q4 25 | $536.7M | — | ||
| Q3 25 | $541.8M | — | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | $552.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $558.4M | — | ||
| Q2 24 | $564.1M | — | ||
| Q1 24 | $370.4M | — |
| Q4 25 | $956.0M | $220.0M | ||
| Q3 25 | $958.7M | $212.4M | ||
| Q2 25 | $939.9M | $202.5M | ||
| Q1 25 | $1.2B | $193.0M | ||
| Q4 24 | — | $181.9M | ||
| Q3 24 | $1.2B | $174.3M | ||
| Q2 24 | $1.2B | $167.8M | ||
| Q1 24 | $1.2B | $160.0M |
| Q4 25 | $2.0B | $668.6M | ||
| Q3 25 | $2.0B | $670.5M | ||
| Q2 25 | $1.9B | $659.0M | ||
| Q1 25 | $2.2B | $664.6M | ||
| Q4 24 | — | $648.9M | ||
| Q3 24 | $2.3B | $655.5M | ||
| Q2 24 | $2.3B | $654.4M | ||
| Q1 24 | $2.2B | $656.6M |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.31× | — |
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 | $5.3M | $21.1M |
| Free Cash FlowOCF − Capex | $-2.5M | $11.6M |
| FCF MarginFCF / Revenue | -0.7% | 3.4% |
| Capex IntensityCapex / Revenue | 2.1% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $85.4M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.3M | $21.1M | ||
| Q3 25 | $36.8M | $15.6M | ||
| Q2 25 | $680.0K | $2.9M | ||
| Q1 25 | $81.7M | $34.1M | ||
| Q4 24 | — | $2.7M | ||
| Q3 24 | $14.1M | $24.5M | ||
| Q2 24 | $26.7M | $12.4M | ||
| Q1 24 | $9.4M | $20.2M |
| Q4 25 | $-2.5M | $11.6M | ||
| Q3 25 | $24.6M | $7.5M | ||
| Q2 25 | $-6.5M | $-4.2M | ||
| Q1 25 | $69.8M | $27.6M | ||
| Q4 24 | — | $-6.9M | ||
| Q3 24 | $3.2M | $18.0M | ||
| Q2 24 | $15.4M | $3.6M | ||
| Q1 24 | $-555.0K | $9.8M |
| Q4 25 | -0.7% | 3.4% | ||
| Q3 25 | 6.6% | 2.2% | ||
| Q2 25 | -1.8% | -1.3% | ||
| Q1 25 | 19.8% | 8.2% | ||
| Q4 24 | — | -2.1% | ||
| Q3 24 | 0.9% | 5.6% | ||
| Q2 24 | 4.4% | 1.2% | ||
| Q1 24 | -0.2% | 3.2% |
| Q4 25 | 2.1% | 2.9% | ||
| Q3 25 | 3.3% | 2.4% | ||
| Q2 25 | 2.0% | 2.2% | ||
| Q1 25 | 3.4% | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | 3.0% | 2.0% | ||
| Q2 24 | 3.2% | 2.9% | ||
| Q1 24 | 3.0% | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | 13.41× | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | 2.94× | 2.72× | ||
| Q2 24 | 4.94× | 1.35× | ||
| Q1 24 | — | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOXF
| Specialty Sports Group | $132.7M | 35% |
| Powered Vehicles Group | $125.9M | 33% |
| Aftermarket Applications Group | $117.8M | 31% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
