vs
Side-by-side financial comparison of HEARTLAND EXPRESS INC (HTLD) 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 $179.4M, roughly 1.9× HEARTLAND EXPRESS INC). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -10.8%, a 14.2% 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 -26.1%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-44.2M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -18.5%).
Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.
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.
HTLD vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $179.4M | $335.6M |
| Net Profit | $-19.4M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | -12.7% | 4.4% |
| Net Margin | -10.8% | 3.4% |
| Revenue YoY | -26.1% | 1.6% |
| Net Profit YoY | -949.2% | 14.0% |
| EPS (diluted) | $-0.24 | $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 | $179.4M | $335.6M | ||
| Q3 25 | $196.5M | $336.1M | ||
| Q2 25 | $210.4M | $328.7M | ||
| Q1 25 | $219.4M | $335.8M | ||
| Q4 24 | $242.6M | $330.2M | ||
| Q3 24 | $259.9M | $322.7M | ||
| Q2 24 | $274.8M | $309.1M | ||
| Q1 24 | $270.3M | $308.1M |
| Q4 25 | $-19.4M | $11.3M | ||
| Q3 25 | $-8.3M | $11.8M | ||
| Q2 25 | $-10.9M | $11.6M | ||
| Q1 25 | $-13.9M | $13.1M | ||
| Q4 24 | $-1.9M | $9.9M | ||
| Q3 24 | $-9.3M | $9.0M | ||
| Q2 24 | $-3.5M | $9.2M | ||
| Q1 24 | $-15.1M | $8.0M |
| 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 24 | — | 29.3% |
| Q4 25 | -12.7% | 4.4% | ||
| Q3 25 | -3.7% | 4.6% | ||
| Q2 25 | -5.9% | 4.7% | ||
| Q1 25 | -6.8% | 5.2% | ||
| Q4 24 | 0.4% | 4.0% | ||
| Q3 24 | -2.7% | 3.7% | ||
| Q2 24 | 0.1% | 4.2% | ||
| Q1 24 | -5.3% | 3.7% |
| Q4 25 | -10.8% | 3.4% | ||
| Q3 25 | -4.2% | 3.5% | ||
| Q2 25 | -5.2% | 3.5% | ||
| Q1 25 | -6.3% | 3.9% | ||
| Q4 24 | -0.8% | 3.0% | ||
| Q3 24 | -3.6% | 2.8% | ||
| Q2 24 | -1.3% | 3.0% | ||
| Q1 24 | -5.6% | 2.6% |
| Q4 25 | $-0.24 | $0.49 | ||
| Q3 25 | $-0.11 | $0.51 | ||
| Q2 25 | $-0.14 | $0.50 | ||
| Q1 25 | $-0.18 | $0.56 | ||
| Q4 24 | $-0.03 | $0.43 | ||
| Q3 24 | $-0.12 | $0.38 | ||
| Q2 24 | $-0.04 | $0.40 | ||
| Q1 24 | $-0.19 | $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 | $18.5M | $23.2M |
| Total DebtLower is stronger | $154.1M | — |
| Stockholders' EquityBook value | $755.3M | $220.0M |
| Total Assets | $1.2B | $668.6M |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.5M | $23.2M | ||
| Q3 25 | $32.7M | $17.1M | ||
| Q2 25 | $22.9M | $13.2M | ||
| Q1 25 | $23.9M | $21.2M | ||
| Q4 24 | $12.8M | $6.3M | ||
| Q3 24 | $30.7M | $8.9M | ||
| Q2 24 | $23.9M | $13.9M | ||
| Q1 24 | $23.8M | $11.0M |
| Q4 25 | $154.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $187.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $755.3M | $220.0M | ||
| Q3 25 | $775.6M | $212.4M | ||
| Q2 25 | $786.7M | $202.5M | ||
| Q1 25 | $807.7M | $193.0M | ||
| Q4 24 | $822.6M | $181.9M | ||
| Q3 24 | $825.7M | $174.3M | ||
| Q2 24 | $836.8M | $167.8M | ||
| Q1 24 | $848.8M | $160.0M |
| Q4 25 | $1.2B | $668.6M | ||
| Q3 25 | $1.3B | $670.5M | ||
| Q2 25 | $1.3B | $659.0M | ||
| Q1 25 | $1.3B | $664.6M | ||
| Q4 24 | $1.3B | $648.9M | ||
| Q3 24 | $1.4B | $655.5M | ||
| Q2 24 | $1.4B | $654.4M | ||
| Q1 24 | $1.5B | $656.6M |
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.23× | — | ||
| 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 | $14.9M | $21.1M |
| Free Cash FlowOCF − Capex | $-44.2M | $11.6M |
| FCF MarginFCF / Revenue | -24.6% | 3.4% |
| Capex IntensityCapex / Revenue | 33.0% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $-66.9M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.9M | $21.1M | ||
| Q3 25 | $27.5M | $15.6M | ||
| Q2 25 | $21.0M | $2.9M | ||
| Q1 25 | $25.8M | $34.1M | ||
| Q4 24 | $37.8M | $2.7M | ||
| Q3 24 | $35.6M | $24.5M | ||
| Q2 24 | $40.0M | $12.4M | ||
| Q1 24 | $31.0M | $20.2M |
| Q4 25 | $-44.2M | $11.6M | ||
| Q3 25 | $-12.2M | $7.5M | ||
| Q2 25 | $-12.8M | $-4.2M | ||
| Q1 25 | $2.3M | $27.6M | ||
| Q4 24 | $-45.5M | $-6.9M | ||
| Q3 24 | $24.6M | $18.0M | ||
| Q2 24 | $29.4M | $3.6M | ||
| Q1 24 | $26.3M | $9.8M |
| Q4 25 | -24.6% | 3.4% | ||
| Q3 25 | -6.2% | 2.2% | ||
| Q2 25 | -6.1% | -1.3% | ||
| Q1 25 | 1.0% | 8.2% | ||
| Q4 24 | -18.8% | -2.1% | ||
| Q3 24 | 9.5% | 5.6% | ||
| Q2 24 | 10.7% | 1.2% | ||
| Q1 24 | 9.7% | 3.2% |
| Q4 25 | 33.0% | 2.9% | ||
| Q3 25 | 20.2% | 2.4% | ||
| Q2 25 | 16.1% | 2.2% | ||
| Q1 25 | 10.7% | 1.9% | ||
| Q4 24 | 34.3% | 2.9% | ||
| Q3 24 | 4.2% | 2.0% | ||
| Q2 24 | 3.8% | 2.9% | ||
| Q1 24 | 1.7% | 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
HTLD
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
