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Side-by-side financial comparison of Hillman Solutions Corp. (HLMN) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Hillman Solutions Corp. is the larger business by last-quarter revenue ($370.1M vs $335.6M, roughly 1.1× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -1.3%, a 4.7% gap on every dollar of revenue. On growth, Hillman Solutions Corp. posted the faster year-over-year revenue change (3.0% vs 1.6%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-34.3M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -1.2%).
Hillman Solutions is an American hardware manufacturing, distribution and consumer fabrication services company.
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.
HLMN vs NGVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $370.1M | $335.6M |
| Net Profit | $-4.7M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | 1.9% | 4.4% |
| Net Margin | -1.3% | 3.4% |
| Revenue YoY | 3.0% | 1.6% |
| Net Profit YoY | — | 14.0% |
| EPS (diluted) | $-0.02 | $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 | $370.1M | — | ||
| Q4 25 | $365.1M | $335.6M | ||
| Q3 25 | $424.9M | $336.1M | ||
| Q2 25 | $402.8M | $328.7M | ||
| Q1 25 | $359.3M | $335.8M | ||
| Q4 24 | $349.6M | $330.2M | ||
| Q3 24 | $393.3M | $322.7M | ||
| Q2 24 | $379.4M | $309.1M |
| Q1 26 | $-4.7M | — | ||
| Q4 25 | $1.6M | $11.3M | ||
| Q3 25 | $23.2M | $11.8M | ||
| Q2 25 | $15.8M | $11.6M | ||
| Q1 25 | $-317.0K | $13.1M | ||
| Q4 24 | $-1.2M | $9.9M | ||
| Q3 24 | $7.4M | $9.0M | ||
| Q2 24 | $12.5M | $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 | 1.9% | — | ||
| Q4 25 | 4.6% | 4.4% | ||
| Q3 25 | 10.8% | 4.6% | ||
| Q2 25 | 9.0% | 4.7% | ||
| Q1 25 | 4.2% | 5.2% | ||
| Q4 24 | 4.0% | 4.0% | ||
| Q3 24 | 6.8% | 3.7% | ||
| Q2 24 | 8.3% | 4.2% |
| Q1 26 | -1.3% | — | ||
| Q4 25 | 0.4% | 3.4% | ||
| Q3 25 | 5.5% | 3.5% | ||
| Q2 25 | 3.9% | 3.5% | ||
| Q1 25 | -0.1% | 3.9% | ||
| Q4 24 | -0.3% | 3.0% | ||
| Q3 24 | 1.9% | 2.8% | ||
| Q2 24 | 3.3% | 3.0% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.00 | $0.49 | ||
| Q3 25 | $0.12 | $0.51 | ||
| Q2 25 | $0.08 | $0.50 | ||
| Q1 25 | $0.00 | $0.56 | ||
| Q4 24 | $-0.00 | $0.43 | ||
| Q3 24 | $0.04 | $0.38 | ||
| Q2 24 | $0.06 | $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 | $27.7M | $23.2M |
| Total DebtLower is stronger | $714.1M | — |
| Stockholders' EquityBook value | $1.2B | $220.0M |
| Total Assets | $2.4B | $668.6M |
| Debt / EquityLower = less leverage | 0.59× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $27.7M | — | ||
| Q4 25 | $27.3M | $23.2M | ||
| Q3 25 | $37.7M | $17.1M | ||
| Q2 25 | $34.2M | $13.2M | ||
| Q1 25 | $36.3M | $21.2M | ||
| Q4 24 | $44.5M | $6.3M | ||
| Q3 24 | $59.8M | $8.9M | ||
| Q2 24 | $54.0M | $13.9M |
| Q1 26 | $714.1M | — | ||
| Q4 25 | $668.3M | — | ||
| Q3 25 | $683.2M | — | ||
| Q2 25 | $683.1M | — | ||
| Q1 25 | $713.5M | — | ||
| Q4 24 | $691.7M | — | ||
| Q3 24 | $730.7M | — | ||
| Q2 24 | $732.1M | — |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $220.0M | ||
| Q3 25 | $1.2B | $212.4M | ||
| Q2 25 | $1.2B | $202.5M | ||
| Q1 25 | $1.2B | $193.0M | ||
| Q4 24 | $1.2B | $181.9M | ||
| Q3 24 | $1.2B | $174.3M | ||
| Q2 24 | $1.2B | $167.8M |
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $668.6M | ||
| Q3 25 | $2.4B | $670.5M | ||
| Q2 25 | $2.4B | $659.0M | ||
| Q1 25 | $2.3B | $664.6M | ||
| Q4 24 | $2.3B | $648.9M | ||
| Q3 24 | $2.4B | $655.5M | ||
| Q2 24 | $2.4B | $654.4M |
| Q1 26 | 0.59× | — | ||
| Q4 25 | 0.54× | — | ||
| Q3 25 | 0.56× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — |
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 | $-34.3M | $11.6M |
| FCF MarginFCF / Revenue | -9.3% | 3.4% |
| Capex IntensityCapex / Revenue | 4.0% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $22.1M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $30.9M | $21.1M | ||
| Q3 25 | $26.2M | $15.6M | ||
| Q2 25 | $48.7M | $2.9M | ||
| Q1 25 | $-655.0K | $34.1M | ||
| Q4 24 | $43.1M | $2.7M | ||
| Q3 24 | $63.7M | $24.5M | ||
| Q2 24 | $64.8M | $12.4M |
| Q1 26 | $-34.3M | — | ||
| Q4 25 | $16.1M | $11.6M | ||
| Q3 25 | $9.1M | $7.5M | ||
| Q2 25 | $31.2M | $-4.2M | ||
| Q1 25 | $-21.3M | $27.6M | ||
| Q4 24 | $22.1M | $-6.9M | ||
| Q3 24 | $39.6M | $18.0M | ||
| Q2 24 | $42.5M | $3.6M |
| Q1 26 | -9.3% | — | ||
| Q4 25 | 4.4% | 3.4% | ||
| Q3 25 | 2.1% | 2.2% | ||
| Q2 25 | 7.7% | -1.3% | ||
| Q1 25 | -5.9% | 8.2% | ||
| Q4 24 | 6.3% | -2.1% | ||
| Q3 24 | 10.1% | 5.6% | ||
| Q2 24 | 11.2% | 1.2% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 4.0% | 2.9% | ||
| Q3 25 | 4.0% | 2.4% | ||
| Q2 25 | 4.3% | 2.2% | ||
| Q1 25 | 5.7% | 1.9% | ||
| Q4 24 | 6.0% | 2.9% | ||
| Q3 24 | 6.1% | 2.0% | ||
| Q2 24 | 5.9% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 19.33× | 1.86× | ||
| Q3 25 | 1.13× | 1.32× | ||
| Q2 25 | 3.08× | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | 8.57× | 2.72× | ||
| Q2 24 | 5.17× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLMN
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
