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Side-by-side financial comparison of MONRO, INC. (MNRO) 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 $293.4M, roughly 1.1× MONRO, INC.). MONRO, INC. runs the higher net margin — 3.8% vs 3.4%, a 0.4% 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 -4.0%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $9.1M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -2.7%).
Monro, Inc. is an automotive services company founded and headquartered in Rochester, New York, U.S. As of 2025, Monro has 1,260 locations making them the second-largest automotive services company in North America after Driven Brands by number of locations and by revenue.
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.
MNRO vs NGVC — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $293.4M | $335.6M |
| Net Profit | $11.1M | $11.3M |
| Gross Margin | 34.9% | 29.5% |
| Operating Margin | 6.3% | 4.4% |
| Net Margin | 3.8% | 3.4% |
| Revenue YoY | -4.0% | 1.6% |
| Net Profit YoY | 143.1% | 14.0% |
| EPS (diluted) | $0.35 | $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 | $293.4M | $335.6M | ||
| Q3 25 | $288.9M | $336.1M | ||
| Q2 25 | $301.0M | $328.7M | ||
| Q1 25 | $295.0M | $335.8M | ||
| Q4 24 | $305.8M | $330.2M | ||
| Q3 24 | $301.4M | $322.7M | ||
| Q2 24 | $293.2M | $309.1M | ||
| Q1 24 | $310.1M | $308.1M |
| Q4 25 | $11.1M | $11.3M | ||
| Q3 25 | $5.7M | $11.8M | ||
| Q2 25 | $-8.1M | $11.6M | ||
| Q1 25 | $-21.3M | $13.1M | ||
| Q4 24 | $4.6M | $9.9M | ||
| Q3 24 | $5.6M | $9.0M | ||
| Q2 24 | $5.9M | $9.2M | ||
| Q1 24 | $3.7M | $8.0M |
| Q4 25 | 34.9% | 29.5% | ||
| Q3 25 | 35.7% | 29.5% | ||
| Q2 25 | 35.5% | 29.9% | ||
| Q1 25 | 33.0% | 30.3% | ||
| Q4 24 | 34.3% | 29.9% | ||
| Q3 24 | 35.3% | 29.6% | ||
| Q2 24 | 37.2% | 29.2% | ||
| Q1 24 | 35.5% | 29.3% |
| Q4 25 | 6.3% | 4.4% | ||
| Q3 25 | 4.4% | 4.6% | ||
| Q2 25 | -2.0% | 4.7% | ||
| Q1 25 | -8.1% | 5.2% | ||
| Q4 24 | 3.3% | 4.0% | ||
| Q3 24 | 4.4% | 3.7% | ||
| Q2 24 | 4.5% | 4.2% | ||
| Q1 24 | 3.3% | 3.7% |
| Q4 25 | 3.8% | 3.4% | ||
| Q3 25 | 2.0% | 3.5% | ||
| Q2 25 | -2.7% | 3.5% | ||
| Q1 25 | -7.2% | 3.9% | ||
| Q4 24 | 1.5% | 3.0% | ||
| Q3 24 | 1.9% | 2.8% | ||
| Q2 24 | 2.0% | 3.0% | ||
| Q1 24 | 1.2% | 2.6% |
| Q4 25 | $0.35 | $0.49 | ||
| Q3 25 | $0.18 | $0.51 | ||
| Q2 25 | $-0.28 | $0.50 | ||
| Q1 25 | $-0.74 | $0.56 | ||
| Q4 24 | $0.15 | $0.43 | ||
| Q3 24 | $0.18 | $0.38 | ||
| Q2 24 | $0.19 | $0.40 | ||
| Q1 24 | $0.12 | $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 | $4.9M | $23.2M |
| Total DebtLower is stronger | $45.0M | — |
| Stockholders' EquityBook value | $604.9M | $220.0M |
| Total Assets | $1.6B | $668.6M |
| Debt / EquityLower = less leverage | 0.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $23.2M | ||
| Q3 25 | $10.5M | $17.1M | ||
| Q2 25 | $7.8M | $13.2M | ||
| Q1 25 | $20.8M | $21.2M | ||
| Q4 24 | $10.2M | $6.3M | ||
| Q3 24 | $20.9M | $8.9M | ||
| Q2 24 | $18.7M | $13.9M | ||
| Q1 24 | $6.6M | $11.0M |
| Q4 25 | $45.0M | — | ||
| Q3 25 | $60.0M | — | ||
| Q2 25 | $71.5M | — | ||
| Q1 25 | $61.3M | — | ||
| Q4 24 | $59.3M | — | ||
| Q3 24 | $62.0M | — | ||
| Q2 24 | $112.0M | — | ||
| Q1 24 | $102.0M | — |
| Q4 25 | $604.9M | $220.0M | ||
| Q3 25 | $601.7M | $212.4M | ||
| Q2 25 | $604.9M | $202.5M | ||
| Q1 25 | $620.8M | $193.0M | ||
| Q4 24 | $648.9M | $181.9M | ||
| Q3 24 | $651.9M | $174.3M | ||
| Q2 24 | $654.4M | $167.8M | ||
| Q1 24 | $656.8M | $160.0M |
| Q4 25 | $1.6B | $668.6M | ||
| Q3 25 | $1.6B | $670.5M | ||
| Q2 25 | $1.6B | $659.0M | ||
| Q1 25 | $1.6B | $664.6M | ||
| Q4 24 | $1.7B | $648.9M | ||
| Q3 24 | $1.7B | $655.5M | ||
| Q2 24 | $1.7B | $654.4M | ||
| Q1 24 | $1.7B | $656.6M |
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.10× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | 0.09× | — | ||
| Q3 24 | 0.10× | — | ||
| Q2 24 | 0.17× | — | ||
| Q1 24 | 0.16× | — |
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 | $17.8M | $21.1M |
| Free Cash FlowOCF − Capex | $9.1M | $11.6M |
| FCF MarginFCF / Revenue | 3.1% | 3.4% |
| Capex IntensityCapex / Revenue | 3.0% | 2.9% |
| Cash ConversionOCF / Net Profit | 1.60× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $49.6M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.8M | $21.1M | ||
| Q3 25 | $32.3M | $15.6M | ||
| Q2 25 | $-1.9M | $2.9M | ||
| Q1 25 | $28.9M | $34.1M | ||
| Q4 24 | $14.8M | $2.7M | ||
| Q3 24 | $62.6M | $24.5M | ||
| Q2 24 | $25.6M | $12.4M | ||
| Q1 24 | $-5.3M | $20.2M |
| Q4 25 | $9.1M | $11.6M | ||
| Q3 25 | $26.6M | $7.5M | ||
| Q2 25 | $-9.3M | $-4.2M | ||
| Q1 25 | $23.2M | $27.6M | ||
| Q4 24 | $7.9M | $-6.9M | ||
| Q3 24 | $57.6M | $18.0M | ||
| Q2 24 | $16.8M | $3.6M | ||
| Q1 24 | $-11.9M | $9.8M |
| Q4 25 | 3.1% | 3.4% | ||
| Q3 25 | 9.2% | 2.2% | ||
| Q2 25 | -3.1% | -1.3% | ||
| Q1 25 | 7.9% | 8.2% | ||
| Q4 24 | 2.6% | -2.1% | ||
| Q3 24 | 19.1% | 5.6% | ||
| Q2 24 | 5.7% | 1.2% | ||
| Q1 24 | -3.8% | 3.2% |
| Q4 25 | 3.0% | 2.9% | ||
| Q3 25 | 2.0% | 2.4% | ||
| Q2 25 | 2.5% | 2.2% | ||
| Q1 25 | 1.9% | 1.9% | ||
| Q4 24 | 2.2% | 2.9% | ||
| Q3 24 | 1.6% | 2.0% | ||
| Q2 24 | 3.0% | 2.9% | ||
| Q1 24 | 2.1% | 3.4% |
| Q4 25 | 1.60× | 1.86× | ||
| Q3 25 | 5.71× | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | 3.23× | 0.27× | ||
| Q3 24 | 11.08× | 2.72× | ||
| Q2 24 | 4.37× | 1.35× | ||
| Q1 24 | -1.42× | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MNRO
| Tires | $150.2M | 51% |
| Maintenance | $73.5M | 25% |
| Brakes | $35.1M | 12% |
| Steering | $24.9M | 8% |
| Batteries | $6.2M | 2% |
| Exhaust | $3.2M | 1% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
