vs
Side-by-side financial comparison of HALOZYME THERAPEUTICS, INC. (HALO) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
HALOZYME THERAPEUTICS, INC. is the larger business by last-quarter revenue ($451.8M vs $335.6M, roughly 1.3× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -31.3%, a 34.7% gap on every dollar of revenue. On growth, HALOZYME THERAPEUTICS, INC. posted the faster year-over-year revenue change (51.6% vs 1.6%). HALOZYME THERAPEUTICS, INC. produced more free cash flow last quarter ($217.6M vs $11.6M). Over the past eight quarters, HALOZYME THERAPEUTICS, INC.'s revenue compounded faster (51.9% CAGR vs 4.4%).
Halozyme Therapeutics, Inc. is an American biotechnology company. It develops oncology therapies designed to target the tumor microenvironment.
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.
HALO vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $451.8M | $335.6M |
| Net Profit | $-141.6M | $11.3M |
| Gross Margin | 82.6% | 29.5% |
| Operating Margin | -20.6% | 4.4% |
| Net Margin | -31.3% | 3.4% |
| Revenue YoY | 51.6% | 1.6% |
| Net Profit YoY | -203.3% | 14.0% |
| EPS (diluted) | $-1.13 | $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 | $451.8M | $335.6M | ||
| Q3 25 | $354.3M | $336.1M | ||
| Q2 25 | $325.7M | $328.7M | ||
| Q1 25 | $264.9M | $335.8M | ||
| Q4 24 | $298.0M | $330.2M | ||
| Q3 24 | $290.1M | $322.7M | ||
| Q2 24 | $231.4M | $309.1M | ||
| Q1 24 | $195.9M | $308.1M |
| Q4 25 | $-141.6M | $11.3M | ||
| Q3 25 | $175.2M | $11.8M | ||
| Q2 25 | $165.2M | $11.6M | ||
| Q1 25 | $118.1M | $13.1M | ||
| Q4 24 | $137.0M | $9.9M | ||
| Q3 24 | $137.0M | $9.0M | ||
| Q2 24 | $93.2M | $9.2M | ||
| Q1 24 | $76.8M | $8.0M |
| Q4 25 | 82.6% | 29.5% | ||
| Q3 25 | 84.4% | 29.5% | ||
| Q2 25 | 85.8% | 29.9% | ||
| Q1 25 | 81.7% | 30.3% | ||
| Q4 24 | 85.9% | 29.9% | ||
| Q3 24 | 83.0% | 29.6% | ||
| Q2 24 | 82.9% | 29.2% | ||
| Q1 24 | 85.5% | 29.3% |
| Q4 25 | -20.6% | 4.4% | ||
| Q3 25 | 61.5% | 4.6% | ||
| Q2 25 | 62.2% | 4.7% | ||
| Q1 25 | 53.4% | 5.2% | ||
| Q4 24 | 58.9% | 4.0% | ||
| Q3 24 | 56.3% | 3.7% | ||
| Q2 24 | 50.7% | 4.2% | ||
| Q1 24 | 48.8% | 3.7% |
| Q4 25 | -31.3% | 3.4% | ||
| Q3 25 | 49.5% | 3.5% | ||
| Q2 25 | 50.7% | 3.5% | ||
| Q1 25 | 44.6% | 3.9% | ||
| Q4 24 | 46.0% | 3.0% | ||
| Q3 24 | 47.2% | 2.8% | ||
| Q2 24 | 40.3% | 3.0% | ||
| Q1 24 | 39.2% | 2.6% |
| Q4 25 | $-1.13 | $0.49 | ||
| Q3 25 | $1.43 | $0.51 | ||
| Q2 25 | $1.33 | $0.50 | ||
| Q1 25 | $0.93 | $0.56 | ||
| Q4 24 | $1.06 | $0.43 | ||
| Q3 24 | $1.05 | $0.38 | ||
| Q2 24 | $0.72 | $0.40 | ||
| Q1 24 | $0.60 | $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 | $133.8M | $23.2M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $48.8M | $220.0M |
| Total Assets | $2.5B | $668.6M |
| Debt / EquityLower = less leverage | 43.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $133.8M | $23.2M | ||
| Q3 25 | $419.7M | $17.1M | ||
| Q2 25 | $61.9M | $13.2M | ||
| Q1 25 | $176.3M | $21.2M | ||
| Q4 24 | $115.8M | $6.3M | ||
| Q3 24 | $154.3M | $8.9M | ||
| Q2 24 | $187.9M | $13.9M | ||
| Q1 24 | $164.6M | $11.0M |
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $48.8M | $220.0M | ||
| Q3 25 | $503.9M | $212.4M | ||
| Q2 25 | $332.7M | $202.5M | ||
| Q1 25 | $482.3M | $193.0M | ||
| Q4 24 | $363.8M | $181.9M | ||
| Q3 24 | $452.7M | $174.3M | ||
| Q2 24 | $289.4M | $167.8M | ||
| Q1 24 | $177.8M | $160.0M |
| Q4 25 | $2.5B | $668.6M | ||
| Q3 25 | $2.2B | $670.5M | ||
| Q2 25 | $2.1B | $659.0M | ||
| Q1 25 | $2.2B | $664.6M | ||
| Q4 24 | $2.1B | $648.9M | ||
| Q3 24 | $2.1B | $655.5M | ||
| Q2 24 | $2.0B | $654.4M | ||
| Q1 24 | $1.8B | $656.6M |
| Q4 25 | 43.89× | — | ||
| Q3 25 | 3.00× | — | ||
| Q2 25 | 4.54× | — | ||
| Q1 25 | 3.13× | — | ||
| Q4 24 | 4.14× | — | ||
| Q3 24 | 3.32× | — | ||
| Q2 24 | 5.19× | — | ||
| Q1 24 | 8.44× | — |
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 | $219.0M | $21.1M |
| Free Cash FlowOCF − Capex | $217.6M | $11.6M |
| FCF MarginFCF / Revenue | 48.2% | 3.4% |
| Capex IntensityCapex / Revenue | 0.3% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $644.6M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $219.0M | $21.1M | ||
| Q3 25 | $178.6M | $15.6M | ||
| Q2 25 | $99.7M | $2.9M | ||
| Q1 25 | $154.2M | $34.1M | ||
| Q4 24 | $178.5M | $2.7M | ||
| Q3 24 | $115.4M | $24.5M | ||
| Q2 24 | $55.8M | $12.4M | ||
| Q1 24 | $129.4M | $20.2M |
| Q4 25 | $217.6M | $11.6M | ||
| Q3 25 | $175.6M | $7.5M | ||
| Q2 25 | $98.1M | $-4.2M | ||
| Q1 25 | $153.3M | $27.6M | ||
| Q4 24 | $175.4M | $-6.9M | ||
| Q3 24 | $113.9M | $18.0M | ||
| Q2 24 | $53.2M | $3.6M | ||
| Q1 24 | $125.9M | $9.8M |
| Q4 25 | 48.2% | 3.4% | ||
| Q3 25 | 49.6% | 2.2% | ||
| Q2 25 | 30.1% | -1.3% | ||
| Q1 25 | 57.9% | 8.2% | ||
| Q4 24 | 58.9% | -2.1% | ||
| Q3 24 | 39.3% | 5.6% | ||
| Q2 24 | 23.0% | 1.2% | ||
| Q1 24 | 64.3% | 3.2% |
| Q4 25 | 0.3% | 2.9% | ||
| Q3 25 | 0.9% | 2.4% | ||
| Q2 25 | 0.5% | 2.2% | ||
| Q1 25 | 0.4% | 1.9% | ||
| Q4 24 | 1.0% | 2.9% | ||
| Q3 24 | 0.5% | 2.0% | ||
| Q2 24 | 1.1% | 2.9% | ||
| Q1 24 | 1.8% | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | 1.02× | 1.32× | ||
| Q2 25 | 0.60× | 0.25× | ||
| Q1 25 | 1.31× | 2.60× | ||
| Q4 24 | 1.30× | 0.27× | ||
| Q3 24 | 0.84× | 2.72× | ||
| Q2 24 | 0.60× | 1.35× | ||
| Q1 24 | 1.68× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HALO
| Royalty | $258.0M | 57% |
| Products | $122.7M | 27% |
| Proprietary Products Sales | $59.6M | 13% |
| Device Partnered Products | $12.9M | 3% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
