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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Northwest Bancshares, Inc. (NWBI). 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 $175.1M, roughly 1.9× Northwest Bancshares, Inc.). Northwest Bancshares, Inc. runs the higher net margin — 28.9% vs 3.4%, a 25.5% gap on every dollar of revenue. Over the past eight quarters, Northwest Bancshares, Inc.'s revenue compounded faster (33.7% CAGR vs 4.4%).
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.
Northwest Bank is a bank headquartered in Warren, Pennsylvania. It is the leading subsidiary of Northwest Bancshares, Inc., a bank holding company, and operates 151 branches in Pennsylvania, Western New York, Northeast Ohio, Appalachian Ohio, and Indiana.
NGVC vs NWBI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $175.1M |
| Net Profit | $11.3M | $50.5M |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | — |
| Net Margin | 3.4% | 28.9% |
| Revenue YoY | 1.6% | — |
| Net Profit YoY | 14.0% | — |
| EPS (diluted) | $0.49 | $0.34 |
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 | — | $175.1M | ||
| Q4 25 | $335.6M | $179.9M | ||
| Q3 25 | $336.1M | $168.2M | ||
| Q2 25 | $328.7M | $150.4M | ||
| Q1 25 | $335.8M | $156.2M | ||
| Q4 24 | $330.2M | $154.3M | ||
| Q3 24 | $322.7M | $139.1M | ||
| Q2 24 | $309.1M | $98.0M |
| Q1 26 | — | $50.5M | ||
| Q4 25 | $11.3M | — | ||
| Q3 25 | $11.8M | $3.2M | ||
| Q2 25 | $11.6M | $33.7M | ||
| Q1 25 | $13.1M | $43.5M | ||
| Q4 24 | $9.9M | — | ||
| Q3 24 | $9.0M | $33.6M | ||
| Q2 24 | $9.2M | $4.7M |
| 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 | — | — | ||
| Q4 25 | 4.4% | 32.6% | ||
| Q3 25 | 4.6% | 2.1% | ||
| Q2 25 | 4.7% | 29.3% | ||
| Q1 25 | 5.2% | 36.2% | ||
| Q4 24 | 4.0% | 27.5% | ||
| Q3 24 | 3.7% | 31.3% | ||
| Q2 24 | 4.2% | 6.1% |
| Q1 26 | — | 28.9% | ||
| Q4 25 | 3.4% | — | ||
| Q3 25 | 3.5% | 1.9% | ||
| Q2 25 | 3.5% | 22.4% | ||
| Q1 25 | 3.9% | 27.8% | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 2.8% | 24.2% | ||
| Q2 24 | 3.0% | 4.8% |
| Q1 26 | — | $0.34 | ||
| Q4 25 | $0.49 | $0.30 | ||
| Q3 25 | $0.51 | $0.02 | ||
| Q2 25 | $0.50 | $0.26 | ||
| Q1 25 | $0.56 | $0.34 | ||
| Q4 24 | $0.43 | $0.26 | ||
| Q3 24 | $0.38 | $0.26 | ||
| Q2 24 | $0.40 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $23.2M | $286.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $220.0M | $1.9B |
| Total Assets | $668.6M | $16.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $286.7M | ||
| Q4 25 | $23.2M | — | ||
| Q3 25 | $17.1M | — | ||
| Q2 25 | $13.2M | — | ||
| Q1 25 | $21.2M | — | ||
| Q4 24 | $6.3M | — | ||
| Q3 24 | $8.9M | — | ||
| Q2 24 | $13.9M | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $220.0M | $1.9B | ||
| Q3 25 | $212.4M | $1.9B | ||
| Q2 25 | $202.5M | $1.6B | ||
| Q1 25 | $193.0M | $1.6B | ||
| Q4 24 | $181.9M | $1.6B | ||
| Q3 24 | $174.3M | $1.6B | ||
| Q2 24 | $167.8M | $1.6B |
| Q1 26 | — | $16.9B | ||
| Q4 25 | $668.6M | $16.8B | ||
| Q3 25 | $670.5M | $16.4B | ||
| Q2 25 | $659.0M | $14.5B | ||
| Q1 25 | $664.6M | $14.5B | ||
| Q4 24 | $648.9M | $14.4B | ||
| Q3 24 | $655.5M | $14.4B | ||
| Q2 24 | $654.4M | $14.4B |
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 | $11.6M | — |
| FCF MarginFCF / Revenue | 3.4% | — |
| Capex IntensityCapex / Revenue | 2.9% | — |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $21.1M | $153.4M | ||
| Q3 25 | $15.6M | $41.9M | ||
| Q2 25 | $2.9M | $-2.3M | ||
| Q1 25 | $34.1M | $107.6M | ||
| Q4 24 | $2.7M | $127.7M | ||
| Q3 24 | $24.5M | $93.3M | ||
| Q2 24 | $12.4M | $40.7M |
| Q1 26 | — | — | ||
| Q4 25 | $11.6M | $141.8M | ||
| Q3 25 | $7.5M | $38.3M | ||
| Q2 25 | $-4.2M | $-6.0M | ||
| Q1 25 | $27.6M | $105.8M | ||
| Q4 24 | $-6.9M | $125.4M | ||
| Q3 24 | $18.0M | $93.2M | ||
| Q2 24 | $3.6M | $37.2M |
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 78.8% | ||
| Q3 25 | 2.2% | 22.8% | ||
| Q2 25 | -1.3% | -4.0% | ||
| Q1 25 | 8.2% | 67.7% | ||
| Q4 24 | -2.1% | 81.3% | ||
| Q3 24 | 5.6% | 67.0% | ||
| Q2 24 | 1.2% | 37.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.9% | 6.5% | ||
| Q3 25 | 2.4% | 2.2% | ||
| Q2 25 | 2.2% | 2.4% | ||
| Q1 25 | 1.9% | 1.2% | ||
| Q4 24 | 2.9% | 1.5% | ||
| Q3 24 | 2.0% | 0.1% | ||
| Q2 24 | 2.9% | 3.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | 13.24× | ||
| Q2 25 | 0.25× | -0.07× | ||
| Q1 25 | 2.60× | 2.48× | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | 2.72× | 2.77× | ||
| Q2 24 | 1.35× | 8.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
NWBI
| Net Interest Income | $142.5M | 81% |
| Noninterest Income | $32.6M | 19% |
