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Side-by-side financial comparison of Hillenbrand, Inc. (HI) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Hillenbrand, Inc. is the larger business by last-quarter revenue ($550.2M vs $335.6M, roughly 1.6× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -0.4%, a 3.8% gap on every dollar of revenue. On growth, Natural Grocers by Vitamin Cottage, Inc. posted the faster year-over-year revenue change (1.6% vs -22.2%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-31.6M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -16.3%).
Hillenbrand, Inc. is a global diversified industrial firm that designs, manufactures, and distributes specialized processing equipment and durable industrial solutions. It serves food & beverage, agriculture, manufacturing, waste management sectors, with operations across North America, Europe, and APAC.
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.
HI vs NGVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $550.2M | $335.6M |
| Net Profit | $-2.2M | $11.3M |
| Gross Margin | 33.4% | 29.5% |
| Operating Margin | -2.2% | 4.4% |
| Net Margin | -0.4% | 3.4% |
| Revenue YoY | -22.2% | 1.6% |
| Net Profit YoY | -134.4% | 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.
| Q4 25 | $550.2M | $335.6M | ||
| Q3 25 | $652.1M | $336.1M | ||
| Q2 25 | $598.9M | $328.7M | ||
| Q1 25 | $715.9M | $335.8M | ||
| Q4 24 | $706.9M | $330.2M | ||
| Q3 24 | $837.6M | $322.7M | ||
| Q2 24 | $786.6M | $309.1M | ||
| Q1 24 | $785.3M | $308.1M |
| Q4 25 | $-2.2M | $11.3M | ||
| Q3 25 | $75.7M | $11.8M | ||
| Q2 25 | $1.9M | $11.6M | ||
| Q1 25 | $-40.9M | $13.1M | ||
| Q4 24 | $6.4M | $9.9M | ||
| Q3 24 | $14.6M | $9.0M | ||
| Q2 24 | $-248.9M | $9.2M | ||
| Q1 24 | $6.1M | $8.0M |
| Q4 25 | 33.4% | 29.5% | ||
| Q3 25 | 34.8% | 29.5% | ||
| Q2 25 | 33.8% | 29.9% | ||
| Q1 25 | 33.0% | 30.3% | ||
| Q4 24 | 33.2% | 29.9% | ||
| Q3 24 | 34.4% | 29.6% | ||
| Q2 24 | 33.9% | 29.2% | ||
| Q1 24 | 31.9% | 29.3% |
| Q4 25 | -2.2% | 4.4% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | 1.8% | 4.7% | ||
| Q1 25 | -6.2% | 5.2% | ||
| Q4 24 | 2.2% | 4.0% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | -32.7% | 4.2% | ||
| Q1 24 | 1.6% | 3.7% |
| Q4 25 | -0.4% | 3.4% | ||
| Q3 25 | 11.6% | 3.5% | ||
| Q2 25 | 0.3% | 3.5% | ||
| Q1 25 | -5.7% | 3.9% | ||
| Q4 24 | 0.9% | 3.0% | ||
| Q3 24 | 1.7% | 2.8% | ||
| Q2 24 | -31.6% | 3.0% | ||
| Q1 24 | 0.8% | 2.6% |
| Q4 25 | — | $0.49 | ||
| Q3 25 | $1.07 | $0.51 | ||
| Q2 25 | $0.03 | $0.50 | ||
| Q1 25 | $-0.58 | $0.56 | ||
| Q4 24 | $0.09 | $0.43 | ||
| Q3 24 | $0.20 | $0.38 | ||
| Q2 24 | $-3.53 | $0.40 | ||
| Q1 24 | $0.09 | $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 | $173.1M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $220.0M |
| Total Assets | $4.5B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.1M | $23.2M | ||
| Q3 25 | $164.8M | $17.1M | ||
| Q2 25 | $162.8M | $13.2M | ||
| Q1 25 | $458.4M | $21.2M | ||
| Q4 24 | $208.0M | $6.3M | ||
| Q3 24 | $199.3M | $8.9M | ||
| Q2 24 | $223.8M | $13.9M | ||
| Q1 24 | $224.4M | $11.0M |
| Q4 25 | — | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $2.1B | — | ||
| Q1 24 | $2.1B | — |
| Q4 25 | $1.4B | $220.0M | ||
| Q3 25 | $1.4B | $212.4M | ||
| Q2 25 | $1.3B | $202.5M | ||
| Q1 25 | $1.3B | $193.0M | ||
| Q4 24 | $1.4B | $181.9M | ||
| Q3 24 | $1.4B | $174.3M | ||
| Q2 24 | $1.4B | $167.8M | ||
| Q1 24 | $1.7B | $160.0M |
| Q4 25 | $4.5B | $668.6M | ||
| Q3 25 | $4.5B | $670.5M | ||
| Q2 25 | $4.7B | $659.0M | ||
| Q1 25 | $4.8B | $664.6M | ||
| Q4 24 | $5.1B | $648.9M | ||
| Q3 24 | $5.2B | $655.5M | ||
| Q2 24 | $5.3B | $654.4M | ||
| Q1 24 | $5.6B | $656.6M |
| Q4 25 | — | — | ||
| Q3 25 | 1.10× | — | ||
| Q2 25 | 1.27× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.38× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.48× | — | ||
| Q1 24 | 1.28× | — |
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 | $-27.4M | $21.1M |
| Free Cash FlowOCF − Capex | $-31.6M | $11.6M |
| FCF MarginFCF / Revenue | -5.7% | 3.4% |
| Capex IntensityCapex / Revenue | 0.8% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $7.8M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-27.4M | $21.1M | ||
| Q3 25 | $67.7M | $15.6M | ||
| Q2 25 | $-1.5M | $2.9M | ||
| Q1 25 | $1.3M | $34.1M | ||
| Q4 24 | $-11.3M | $2.7M | ||
| Q3 24 | $166.5M | $24.5M | ||
| Q2 24 | $45.6M | $12.4M | ||
| Q1 24 | $3.2M | $20.2M |
| Q4 25 | $-31.6M | $11.6M | ||
| Q3 25 | $58.6M | $7.5M | ||
| Q2 25 | $-11.2M | $-4.2M | ||
| Q1 25 | $-8.0M | $27.6M | ||
| Q4 24 | $-21.5M | $-6.9M | ||
| Q3 24 | $153.4M | $18.0M | ||
| Q2 24 | $29.7M | $3.6M | ||
| Q1 24 | $-9.6M | $9.8M |
| Q4 25 | -5.7% | 3.4% | ||
| Q3 25 | 9.0% | 2.2% | ||
| Q2 25 | -1.9% | -1.3% | ||
| Q1 25 | -1.1% | 8.2% | ||
| Q4 24 | -3.0% | -2.1% | ||
| Q3 24 | 18.3% | 5.6% | ||
| Q2 24 | 3.8% | 1.2% | ||
| Q1 24 | -1.2% | 3.2% |
| Q4 25 | 0.8% | 2.9% | ||
| Q3 25 | 1.4% | 2.4% | ||
| Q2 25 | 1.6% | 2.2% | ||
| Q1 25 | 1.3% | 1.9% | ||
| Q4 24 | 1.4% | 2.9% | ||
| Q3 24 | 1.6% | 2.0% | ||
| Q2 24 | 2.0% | 2.9% | ||
| Q1 24 | 1.6% | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | 0.89× | 1.32× | ||
| Q2 25 | -0.79× | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | -1.77× | 0.27× | ||
| Q3 24 | 11.40× | 2.72× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | 0.52× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HI
| Transferred At Point In Time | $256.5M | 47% |
| Transferred Over Time | $207.1M | 38% |
| Molding Technology Solutions | $86.6M | 16% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
