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Side-by-side financial comparison of Mistras Group, Inc. (MG) 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 $181.5M, roughly 1.8× Mistras Group, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs 2.1%, a 1.3% gap on every dollar of revenue. On growth, Mistras Group, Inc. posted the faster year-over-year revenue change (5.1% vs 1.6%). Mistras Group, Inc. produced more free cash flow last quarter ($26.0M vs $11.6M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -0.8%).
Mistras Group, Inc. is a global provider of asset integrity and protection solutions, offering non-destructive testing, inspection, real-time monitoring, and engineering consulting services. Its key client segments include oil and gas, aerospace, power generation, and manufacturing industries, with operations spanning North America, Europe, and Asia-Pacific, helping clients enhance operational safety, extend asset lifespans, and minimize unplanned downtime.
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.
MG vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $181.5M | $335.6M |
| Net Profit | $3.8M | $11.3M |
| Gross Margin | 28.4% | 29.5% |
| Operating Margin | 7.0% | 4.4% |
| Net Margin | 2.1% | 3.4% |
| Revenue YoY | 5.1% | 1.6% |
| Net Profit YoY | -27.4% | 14.0% |
| EPS (diluted) | $0.12 | $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 | $181.5M | $335.6M | ||
| Q3 25 | $195.5M | $336.1M | ||
| Q2 25 | $185.4M | $328.7M | ||
| Q1 25 | $161.6M | $335.8M | ||
| Q4 24 | $172.7M | $330.2M | ||
| Q3 24 | $182.7M | $322.7M | ||
| Q2 24 | $189.8M | $309.1M | ||
| Q1 24 | $184.4M | $308.1M |
| Q4 25 | $3.8M | $11.3M | ||
| Q3 25 | $13.1M | $11.8M | ||
| Q2 25 | $3.0M | $11.6M | ||
| Q1 25 | $-3.2M | $13.1M | ||
| Q4 24 | $5.2M | $9.9M | ||
| Q3 24 | $6.4M | $9.0M | ||
| Q2 24 | $6.4M | $9.2M | ||
| Q1 24 | $995.0K | $8.0M |
| Q4 25 | 28.4% | 29.5% | ||
| Q3 25 | 29.8% | 29.5% | ||
| Q2 25 | 29.1% | 29.9% | ||
| Q1 25 | 25.3% | 30.3% | ||
| Q4 24 | 26.5% | 29.9% | ||
| Q3 24 | 26.8% | 29.6% | ||
| Q2 24 | 27.1% | 29.2% | ||
| Q1 24 | 25.0% | 29.3% |
| Q4 25 | 7.0% | 4.4% | ||
| Q3 25 | 10.4% | 4.6% | ||
| Q2 25 | 4.5% | 4.7% | ||
| Q1 25 | -0.6% | 5.2% | ||
| Q4 24 | 6.1% | 4.0% | ||
| Q3 24 | 6.5% | 3.7% | ||
| Q2 24 | 6.3% | 4.2% | ||
| Q1 24 | 3.0% | 3.7% |
| Q4 25 | 2.1% | 3.4% | ||
| Q3 25 | 6.7% | 3.5% | ||
| Q2 25 | 1.6% | 3.5% | ||
| Q1 25 | -2.0% | 3.9% | ||
| Q4 24 | 3.0% | 3.0% | ||
| Q3 24 | 3.5% | 2.8% | ||
| Q2 24 | 3.4% | 3.0% | ||
| Q1 24 | 0.5% | 2.6% |
| Q4 25 | $0.12 | $0.49 | ||
| Q3 25 | $0.41 | $0.51 | ||
| Q2 25 | $0.10 | $0.50 | ||
| Q1 25 | $-0.10 | $0.56 | ||
| Q4 24 | $0.17 | $0.43 | ||
| Q3 24 | $0.20 | $0.38 | ||
| Q2 24 | $0.20 | $0.40 | ||
| Q1 24 | $0.03 | $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 | $28.0M | $23.2M |
| Total DebtLower is stronger | $178.0M | — |
| Stockholders' EquityBook value | $235.1M | $220.0M |
| Total Assets | $578.8M | $668.6M |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.0M | $23.2M | ||
| Q3 25 | $27.8M | $17.1M | ||
| Q2 25 | $20.0M | $13.2M | ||
| Q1 25 | $18.5M | $21.2M | ||
| Q4 24 | $18.3M | $6.3M | ||
| Q3 24 | $20.4M | $8.9M | ||
| Q2 24 | $17.2M | $13.9M | ||
| Q1 24 | $16.9M | $11.0M |
| Q4 25 | $178.0M | — | ||
| Q3 25 | $202.3M | — | ||
| Q2 25 | $189.4M | — | ||
| Q1 25 | $171.9M | — | ||
| Q4 24 | $169.6M | — | ||
| Q3 24 | $189.7M | — | ||
| Q2 24 | $199.7M | — | ||
| Q1 24 | $198.4M | — |
| Q4 25 | $235.1M | $220.0M | ||
| Q3 25 | $227.4M | $212.4M | ||
| Q2 25 | $215.8M | $202.5M | ||
| Q1 25 | $198.7M | $193.0M | ||
| Q4 24 | $198.6M | $181.9M | ||
| Q3 24 | $205.2M | $174.3M | ||
| Q2 24 | $193.2M | $167.8M | ||
| Q1 24 | $187.1M | $160.0M |
| Q4 25 | $578.8M | $668.6M | ||
| Q3 25 | $596.3M | $670.5M | ||
| Q2 25 | $571.0M | $659.0M | ||
| Q1 25 | $526.8M | $664.6M | ||
| Q4 24 | $523.0M | $648.9M | ||
| Q3 24 | $551.7M | $655.5M | ||
| Q2 24 | $548.1M | $654.4M | ||
| Q1 24 | $542.1M | $656.6M |
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.89× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.92× | — | ||
| Q2 24 | 1.03× | — | ||
| Q1 24 | 1.06× | — |
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 | $32.1M | $21.1M |
| Free Cash FlowOCF − Capex | $26.0M | $11.6M |
| FCF MarginFCF / Revenue | 14.3% | 3.4% |
| Capex IntensityCapex / Revenue | 3.4% | 2.9% |
| Cash ConversionOCF / Net Profit | 8.55× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $8.3M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.1M | $21.1M | ||
| Q3 25 | $4.5M | $15.6M | ||
| Q2 25 | $-9.3M | $2.9M | ||
| Q1 25 | $5.6M | $34.1M | ||
| Q4 24 | $25.7M | $2.7M | ||
| Q3 24 | $19.4M | $24.5M | ||
| Q2 24 | $4.5M | $12.4M | ||
| Q1 24 | $604.0K | $20.2M |
| Q4 25 | $26.0M | $11.6M | ||
| Q3 25 | $-4.1M | $7.5M | ||
| Q2 25 | $-14.7M | $-4.2M | ||
| Q1 25 | $1.1M | $27.6M | ||
| Q4 24 | $22.1M | $-6.9M | ||
| Q3 24 | $14.6M | $18.0M | ||
| Q2 24 | $-284.0K | $3.6M | ||
| Q1 24 | $-4.2M | $9.8M |
| Q4 25 | 14.3% | 3.4% | ||
| Q3 25 | -2.1% | 2.2% | ||
| Q2 25 | -7.9% | -1.3% | ||
| Q1 25 | 0.7% | 8.2% | ||
| Q4 24 | 12.8% | -2.1% | ||
| Q3 24 | 8.0% | 5.6% | ||
| Q2 24 | -0.1% | 1.2% | ||
| Q1 24 | -2.3% | 3.2% |
| Q4 25 | 3.4% | 2.9% | ||
| Q3 25 | 4.4% | 2.4% | ||
| Q2 25 | 2.9% | 2.2% | ||
| Q1 25 | 2.8% | 1.9% | ||
| Q4 24 | 2.1% | 2.9% | ||
| Q3 24 | 2.6% | 2.0% | ||
| Q2 24 | 2.5% | 2.9% | ||
| Q1 24 | 2.6% | 3.4% |
| Q4 25 | 8.55× | 1.86× | ||
| Q3 25 | 0.34× | 1.32× | ||
| Q2 25 | -3.07× | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | 4.96× | 0.27× | ||
| Q3 24 | 3.02× | 2.72× | ||
| Q2 24 | 0.71× | 1.35× | ||
| Q1 24 | 0.61× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MG
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
