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Side-by-side financial comparison of Gaming & Leisure Properties, Inc. (GLPI) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Gaming & Leisure Properties, Inc. is the larger business by last-quarter revenue ($420.0M vs $335.6M, roughly 1.3× Natural Grocers by Vitamin Cottage, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 3.4%, a 53.6% gap on every dollar of revenue. On growth, Gaming & Leisure Properties, Inc. posted the faster year-over-year revenue change (6.3% vs 1.6%). Over the past eight quarters, Gaming & Leisure Properties, Inc.'s revenue compounded faster (5.0% CAGR vs 4.4%).
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
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.
GLPI vs NGVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $420.0M | $335.6M |
| Net Profit | $239.4M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | 79.4% | 4.4% |
| Net Margin | 57.0% | 3.4% |
| Revenue YoY | 6.3% | 1.6% |
| Net Profit YoY | 40.5% | 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 | $420.0M | — | ||
| Q4 25 | $407.0M | $335.6M | ||
| Q3 25 | $397.6M | $336.1M | ||
| Q2 25 | $394.9M | $328.7M | ||
| Q1 25 | $395.2M | $335.8M | ||
| Q4 24 | $389.6M | $330.2M | ||
| Q3 24 | $385.3M | $322.7M | ||
| Q2 24 | $380.6M | $309.1M |
| Q1 26 | $239.4M | — | ||
| Q4 25 | $275.4M | $11.3M | ||
| Q3 25 | $241.2M | $11.8M | ||
| Q2 25 | $151.4M | $11.6M | ||
| Q1 25 | $165.2M | $13.1M | ||
| Q4 24 | $223.6M | $9.9M | ||
| Q3 24 | $184.7M | $9.0M | ||
| Q2 24 | $208.3M | $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 | 79.4% | — | ||
| Q4 25 | 89.3% | 4.4% | ||
| Q3 25 | 84.8% | 4.6% | ||
| Q2 25 | 61.3% | 4.7% | ||
| Q1 25 | 65.5% | 5.2% | ||
| Q4 24 | 79.1% | 4.0% | ||
| Q3 24 | 70.4% | 3.7% | ||
| Q2 24 | 77.1% | 4.2% |
| Q1 26 | 57.0% | — | ||
| Q4 25 | 67.6% | 3.4% | ||
| Q3 25 | 60.7% | 3.5% | ||
| Q2 25 | 38.4% | 3.5% | ||
| Q1 25 | 41.8% | 3.9% | ||
| Q4 24 | 57.4% | 3.0% | ||
| Q3 24 | 47.9% | 2.8% | ||
| Q2 24 | 54.7% | 3.0% |
| Q1 26 | — | — | ||
| Q4 25 | $0.96 | $0.49 | ||
| Q3 25 | $0.85 | $0.51 | ||
| Q2 25 | $0.54 | $0.50 | ||
| Q1 25 | $0.60 | $0.56 | ||
| Q4 24 | $0.79 | $0.43 | ||
| Q3 24 | $0.67 | $0.38 | ||
| Q2 24 | $0.77 | $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 | $274.5M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.0B | $220.0M |
| Total Assets | $13.8B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $274.5M | — | ||
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $17.1M | ||
| Q2 25 | — | $13.2M | ||
| Q1 25 | — | $21.2M | ||
| Q4 24 | $560.8M | $6.3M | ||
| Q3 24 | $560.8M | $8.9M | ||
| Q2 24 | $560.8M | $13.9M |
| Q1 26 | — | — | ||
| Q4 25 | $7.2B | — | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $6.9B | — | ||
| Q1 25 | $6.9B | — | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $7.4B | — | ||
| Q2 24 | $6.6B | — |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.6B | $220.0M | ||
| Q3 25 | $4.6B | $212.4M | ||
| Q2 25 | $4.6B | $202.5M | ||
| Q1 25 | $4.2B | $193.0M | ||
| Q4 24 | $4.3B | $181.9M | ||
| Q3 24 | $4.3B | $174.3M | ||
| Q2 24 | $4.1B | $167.8M |
| Q1 26 | $13.8B | — | ||
| Q4 25 | $12.9B | $668.6M | ||
| Q3 25 | $12.8B | $670.5M | ||
| Q2 25 | $12.5B | $659.0M | ||
| Q1 25 | $12.1B | $664.6M | ||
| Q4 24 | $13.1B | $648.9M | ||
| Q3 24 | $12.7B | $655.5M | ||
| Q2 24 | $11.8B | $654.4M |
| Q1 26 | — | — | ||
| Q4 25 | 1.56× | — | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 1.60× | — |
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 | $1.1B | $21.1M | ||
| Q3 25 | $240.3M | $15.6M | ||
| Q2 25 | $293.4M | $2.9M | ||
| Q1 25 | $252.5M | $34.1M | ||
| Q4 24 | $1.1B | $2.7M | ||
| Q3 24 | $270.4M | $24.5M | ||
| Q2 24 | $252.1M | $12.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $11.6M | ||
| Q3 25 | $183.0M | $7.5M | ||
| Q2 25 | $272.3M | $-4.2M | ||
| Q1 25 | $239.6M | $27.6M | ||
| Q4 24 | $1.1B | $-6.9M | ||
| Q3 24 | $261.5M | $18.0M | ||
| Q2 24 | $245.0M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | 46.0% | 2.2% | ||
| Q2 25 | 69.0% | -1.3% | ||
| Q1 25 | 60.6% | 8.2% | ||
| Q4 24 | 275.3% | -2.1% | ||
| Q3 24 | 67.9% | 5.6% | ||
| Q2 24 | 64.4% | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.9% | ||
| Q3 25 | 14.4% | 2.4% | ||
| Q2 25 | 5.3% | 2.2% | ||
| Q1 25 | 3.3% | 1.9% | ||
| Q4 24 | 0.0% | 2.9% | ||
| Q3 24 | 2.3% | 2.0% | ||
| Q2 24 | 1.9% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 4.10× | 1.86× | ||
| Q3 25 | 1.00× | 1.32× | ||
| Q2 25 | 1.94× | 0.25× | ||
| Q1 25 | 1.53× | 2.60× | ||
| Q4 24 | 4.80× | 0.27× | ||
| Q3 24 | 1.46× | 2.72× | ||
| Q2 24 | 1.21× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GLPI
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
