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Side-by-side financial comparison of HEALTHY CHOICE WELLNESS CORP. (HCWC) 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 $18.7M, roughly 17.9× HEALTHY CHOICE WELLNESS CORP.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -8.9%, a 12.3% gap on every dollar of revenue. Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-927.1K).
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.
HCWC vs NGVC — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $18.7M | $335.6M |
| Net Profit | $-1.7M | $11.3M |
| Gross Margin | 39.1% | 29.5% |
| Operating Margin | -7.6% | 4.4% |
| Net Margin | -8.9% | 3.4% |
| Revenue YoY | — | 1.6% |
| Net Profit YoY | — | 14.0% |
| EPS (diluted) | $-0.05 | $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 | $18.7M | $335.6M | ||
| Q3 25 | $19.0M | $336.1M | ||
| Q2 25 | $20.2M | $328.7M | ||
| Q1 25 | $20.3M | $335.8M | ||
| Q4 24 | — | $330.2M | ||
| Q3 24 | $18.2M | $322.7M | ||
| Q2 24 | — | $309.1M | ||
| Q1 24 | — | $308.1M |
| Q4 25 | $-1.7M | $11.3M | ||
| Q3 25 | $-1.2M | $11.8M | ||
| Q2 25 | $-339.4K | $11.6M | ||
| Q1 25 | $-712.4K | $13.1M | ||
| Q4 24 | — | $9.9M | ||
| Q3 24 | $-2.7M | $9.0M | ||
| Q2 24 | — | $9.2M | ||
| Q1 24 | — | $8.0M |
| Q4 25 | 39.1% | 29.5% | ||
| Q3 25 | 38.8% | 29.5% | ||
| Q2 25 | 40.1% | 29.9% | ||
| Q1 25 | 38.8% | 30.3% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | 38.4% | 29.6% | ||
| Q2 24 | — | 29.2% | ||
| Q1 24 | — | 29.3% |
| Q4 25 | -7.6% | 4.4% | ||
| Q3 25 | -3.2% | 4.6% | ||
| Q2 25 | -0.2% | 4.7% | ||
| Q1 25 | -2.0% | 5.2% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | -2.0% | 3.7% | ||
| Q2 24 | — | 4.2% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | -8.9% | 3.4% | ||
| Q3 25 | -6.4% | 3.5% | ||
| Q2 25 | -1.7% | 3.5% | ||
| Q1 25 | -3.5% | 3.9% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | -14.6% | 2.8% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | — | 2.6% |
| Q4 25 | $-0.05 | $0.49 | ||
| Q3 25 | $-0.09 | $0.51 | ||
| Q2 25 | $-0.03 | $0.50 | ||
| Q1 25 | $-0.07 | $0.56 | ||
| Q4 24 | — | $0.43 | ||
| Q3 24 | $-0.29 | $0.38 | ||
| Q2 24 | — | $0.40 | ||
| Q1 24 | — | $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 | $3.0M | $23.2M |
| Total DebtLower is stronger | $7.3M | — |
| Stockholders' EquityBook value | $7.3M | $220.0M |
| Total Assets | $33.5M | $668.6M |
| Debt / EquityLower = less leverage | 1.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $23.2M | ||
| Q3 25 | $3.0M | $17.1M | ||
| Q2 25 | $4.7M | $13.2M | ||
| Q1 25 | $1.8M | $21.2M | ||
| Q4 24 | — | $6.3M | ||
| Q3 24 | $1.8M | $8.9M | ||
| Q2 24 | — | $13.9M | ||
| Q1 24 | — | $11.0M |
| Q4 25 | $7.3M | — | ||
| Q3 25 | $8.5M | — | ||
| Q2 25 | $9.7M | — | ||
| Q1 25 | $10.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $11.6M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $7.3M | $220.0M | ||
| Q3 25 | $5.9M | $212.4M | ||
| Q2 25 | $5.8M | $202.5M | ||
| Q1 25 | $2.1M | $193.0M | ||
| Q4 24 | — | $181.9M | ||
| Q3 24 | $2.9M | $174.3M | ||
| Q2 24 | — | $167.8M | ||
| Q1 24 | — | $160.0M |
| Q4 25 | $33.5M | $668.6M | ||
| Q3 25 | $33.7M | $670.5M | ||
| Q2 25 | $36.4M | $659.0M | ||
| Q1 25 | $34.1M | $664.6M | ||
| Q4 24 | — | $648.9M | ||
| Q3 24 | $33.2M | $655.5M | ||
| Q2 24 | — | $654.4M | ||
| Q1 24 | — | $656.6M |
| Q4 25 | 1.00× | — | ||
| Q3 25 | 1.43× | — | ||
| Q2 25 | 1.69× | — | ||
| Q1 25 | 5.01× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.95× | — | ||
| 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 | $-855.1K | $21.1M |
| Free Cash FlowOCF − Capex | $-927.1K | $11.6M |
| FCF MarginFCF / Revenue | -5.0% | 3.4% |
| Capex IntensityCapex / Revenue | 0.4% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $675.4K | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-855.1K | $21.1M | ||
| Q3 25 | $-308.7K | $15.6M | ||
| Q2 25 | $1.1M | $2.9M | ||
| Q1 25 | $1.1M | $34.1M | ||
| Q4 24 | — | $2.7M | ||
| Q3 24 | — | $24.5M | ||
| Q2 24 | — | $12.4M | ||
| Q1 24 | — | $20.2M |
| Q4 25 | $-927.1K | $11.6M | ||
| Q3 25 | $-351.3K | $7.5M | ||
| Q2 25 | $988.6K | $-4.2M | ||
| Q1 25 | $965.3K | $27.6M | ||
| Q4 24 | — | $-6.9M | ||
| Q3 24 | — | $18.0M | ||
| Q2 24 | — | $3.6M | ||
| Q1 24 | — | $9.8M |
| Q4 25 | -5.0% | 3.4% | ||
| Q3 25 | -1.8% | 2.2% | ||
| Q2 25 | 4.9% | -1.3% | ||
| Q1 25 | 4.8% | 8.2% | ||
| Q4 24 | — | -2.1% | ||
| Q3 24 | — | 5.6% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | 0.4% | 2.9% | ||
| Q3 25 | 0.2% | 2.4% | ||
| Q2 25 | 0.4% | 2.2% | ||
| Q1 25 | 0.6% | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 2.9% | ||
| Q1 24 | — | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | — | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCWC
| Retail Grocery | $17.1M | 91% |
| Food Service Restaurant | $1.7M | 9% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
