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Side-by-side financial comparison of Acushnet Holdings Corp. (GOLF) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Acushnet Holdings Corp. is the larger business by last-quarter revenue ($477.2M vs $335.6M, roughly 1.4× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -7.3%, a 10.7% gap on every dollar of revenue. On growth, Acushnet Holdings Corp. posted the faster year-over-year revenue change (7.2% vs 1.6%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-23.3M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -17.9%).
The Acushnet Company is an American company focused on the golf market. The company operates a series of brands that manufacture golf equipment, clothing and accessories.
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.
GOLF vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $477.2M | $335.6M |
| Net Profit | $-34.9M | $11.3M |
| Gross Margin | 44.1% | 29.5% |
| Operating Margin | -3.8% | 4.4% |
| Net Margin | -7.3% | 3.4% |
| Revenue YoY | 7.2% | 1.6% |
| Net Profit YoY | -3027.3% | 14.0% |
| EPS (diluted) | $-0.57 | $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 | $477.2M | $335.6M | ||
| Q3 25 | $657.7M | $336.1M | ||
| Q2 25 | $720.5M | $328.7M | ||
| Q1 25 | $703.4M | $335.8M | ||
| Q4 24 | $445.2M | $330.2M | ||
| Q3 24 | $620.5M | $322.7M | ||
| Q2 24 | $683.9M | $309.1M | ||
| Q1 24 | $707.6M | $308.1M |
| Q4 25 | $-34.9M | $11.3M | ||
| Q3 25 | $48.5M | $11.8M | ||
| Q2 25 | $75.6M | $11.6M | ||
| Q1 25 | $99.4M | $13.1M | ||
| Q4 24 | $-1.1M | $9.9M | ||
| Q3 24 | $56.2M | $9.0M | ||
| Q2 24 | $71.4M | $9.2M | ||
| Q1 24 | $87.8M | $8.0M |
| Q4 25 | 44.1% | 29.5% | ||
| Q3 25 | 48.5% | 29.5% | ||
| Q2 25 | 49.2% | 29.9% | ||
| Q1 25 | 47.9% | 30.3% | ||
| Q4 24 | 22.6% | 29.9% | ||
| Q3 24 | 54.4% | 29.6% | ||
| Q2 24 | 54.4% | 29.2% | ||
| Q1 24 | 53.4% | 29.3% |
| Q4 25 | -3.8% | 4.4% | ||
| Q3 25 | 14.1% | 4.6% | ||
| Q2 25 | 15.2% | 4.7% | ||
| Q1 25 | 16.3% | 5.2% | ||
| Q4 24 | -1.2% | 4.0% | ||
| Q3 24 | 13.2% | 3.7% | ||
| Q2 24 | 15.5% | 4.2% | ||
| Q1 24 | 17.2% | 3.7% |
| Q4 25 | -7.3% | 3.4% | ||
| Q3 25 | 7.4% | 3.5% | ||
| Q2 25 | 10.5% | 3.5% | ||
| Q1 25 | 14.1% | 3.9% | ||
| Q4 24 | -0.3% | 3.0% | ||
| Q3 24 | 9.1% | 2.8% | ||
| Q2 24 | 10.4% | 3.0% | ||
| Q1 24 | 12.4% | 2.6% |
| Q4 25 | $-0.57 | $0.49 | ||
| Q3 25 | $0.81 | $0.51 | ||
| Q2 25 | $1.25 | $0.50 | ||
| Q1 25 | $1.62 | $0.56 | ||
| Q4 24 | $0.02 | $0.43 | ||
| Q3 24 | $0.89 | $0.38 | ||
| Q2 24 | $1.11 | $0.40 | ||
| Q1 24 | $1.35 | $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 | $926.2M | — |
| Stockholders' EquityBook value | $783.6M | $220.0M |
| Total Assets | $2.3B | $668.6M |
| Debt / EquityLower = less leverage | 1.18× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $17.1M | ||
| Q2 25 | — | $13.2M | ||
| Q1 25 | — | $21.2M | ||
| Q4 24 | — | $6.3M | ||
| Q3 24 | — | $8.9M | ||
| Q2 24 | — | $13.9M | ||
| Q1 24 | — | $11.0M |
| Q4 25 | $926.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $753.1M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $783.6M | $220.0M | ||
| Q3 25 | $852.3M | $212.4M | ||
| Q2 25 | $808.5M | $202.5M | ||
| Q1 25 | $780.3M | $193.0M | ||
| Q4 24 | $765.2M | $181.9M | ||
| Q3 24 | $863.9M | $174.3M | ||
| Q2 24 | $863.7M | $167.8M | ||
| Q1 24 | $883.7M | $160.0M |
| Q4 25 | $2.3B | $668.6M | ||
| Q3 25 | $2.4B | $670.5M | ||
| Q2 25 | $2.4B | $659.0M | ||
| Q1 25 | $2.4B | $664.6M | ||
| Q4 24 | $2.2B | $648.9M | ||
| Q3 24 | $2.3B | $655.5M | ||
| Q2 24 | $2.3B | $654.4M | ||
| Q1 24 | $2.4B | $656.6M |
| Q4 25 | 1.18× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-338.0K | $21.1M |
| Free Cash FlowOCF − Capex | $-23.3M | $11.6M |
| FCF MarginFCF / Revenue | -4.9% | 3.4% |
| Capex IntensityCapex / Revenue | 4.8% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $120.0M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-338.0K | $21.1M | ||
| Q3 25 | $163.1M | $15.6M | ||
| Q2 25 | $151.9M | $2.9M | ||
| Q1 25 | $-120.3M | $34.1M | ||
| Q4 24 | $-1.1M | $2.7M | ||
| Q3 24 | $144.1M | $24.5M | ||
| Q2 24 | $211.6M | $12.4M | ||
| Q1 24 | $-109.5M | $20.2M |
| Q4 25 | $-23.3M | $11.6M | ||
| Q3 25 | $136.9M | $7.5M | ||
| Q2 25 | $138.0M | $-4.2M | ||
| Q1 25 | $-131.5M | $27.6M | ||
| Q4 24 | $-33.2M | $-6.9M | ||
| Q3 24 | $123.7M | $18.0M | ||
| Q2 24 | $196.8M | $3.6M | ||
| Q1 24 | $-116.8M | $9.8M |
| Q4 25 | -4.9% | 3.4% | ||
| Q3 25 | 20.8% | 2.2% | ||
| Q2 25 | 19.2% | -1.3% | ||
| Q1 25 | -18.7% | 8.2% | ||
| Q4 24 | -7.5% | -2.1% | ||
| Q3 24 | 19.9% | 5.6% | ||
| Q2 24 | 28.8% | 1.2% | ||
| Q1 24 | -16.5% | 3.2% |
| Q4 25 | 4.8% | 2.9% | ||
| Q3 25 | 4.0% | 2.4% | ||
| Q2 25 | 1.9% | 2.2% | ||
| Q1 25 | 1.6% | 1.9% | ||
| Q4 24 | 7.2% | 2.9% | ||
| Q3 24 | 3.3% | 2.0% | ||
| Q2 24 | 2.2% | 2.9% | ||
| Q1 24 | 1.0% | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | 3.36× | 1.32× | ||
| Q2 25 | 2.01× | 0.25× | ||
| Q1 25 | -1.21× | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | 2.56× | 2.72× | ||
| Q2 24 | 2.96× | 1.35× | ||
| Q1 24 | -1.25× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
