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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and ONESPAWORLD HOLDINGS Ltd (OSW). 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 $242.1M, roughly 1.4× ONESPAWORLD HOLDINGS Ltd). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs 3.4%, a 1.6% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs 1.6%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $11.6M). Over the past eight quarters, ONESPAWORLD HOLDINGS Ltd's revenue compounded faster (7.1% 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.
NGVC vs OSW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $242.1M |
| Net Profit | $11.3M | $12.1M |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | 6.8% |
| Net Margin | 3.4% | 5.0% |
| Revenue YoY | 1.6% | 11.5% |
| Net Profit YoY | 14.0% | -16.2% |
| EPS (diluted) | $0.49 | $0.12 |
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 | $335.6M | $242.1M | ||
| Q3 25 | $336.1M | $258.5M | ||
| Q2 25 | $328.7M | $240.7M | ||
| Q1 25 | $335.8M | $219.6M | ||
| Q4 24 | $330.2M | $217.2M | ||
| Q3 24 | $322.7M | $241.7M | ||
| Q2 24 | $309.1M | $224.9M | ||
| Q1 24 | $308.1M | $211.2M |
| Q4 25 | $11.3M | $12.1M | ||
| Q3 25 | $11.8M | $24.3M | ||
| Q2 25 | $11.6M | $19.9M | ||
| Q1 25 | $13.1M | $15.3M | ||
| Q4 24 | $9.9M | $14.4M | ||
| Q3 24 | $9.0M | $21.6M | ||
| Q2 24 | $9.2M | $15.8M | ||
| Q1 24 | $8.0M | $21.2M |
| 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 | 4.4% | 6.8% | ||
| Q3 25 | 4.6% | 10.2% | ||
| Q2 25 | 4.7% | 9.2% | ||
| Q1 25 | 5.2% | 7.7% | ||
| Q4 24 | 4.0% | 7.9% | ||
| Q3 24 | 3.7% | 10.3% | ||
| Q2 24 | 4.2% | 8.4% | ||
| Q1 24 | 3.7% | 8.0% |
| Q4 25 | 3.4% | 5.0% | ||
| Q3 25 | 3.5% | 9.4% | ||
| Q2 25 | 3.5% | 8.3% | ||
| Q1 25 | 3.9% | 7.0% | ||
| Q4 24 | 3.0% | 6.6% | ||
| Q3 24 | 2.8% | 8.9% | ||
| Q2 24 | 3.0% | 7.0% | ||
| Q1 24 | 2.6% | 10.0% |
| Q4 25 | $0.49 | $0.12 | ||
| Q3 25 | $0.51 | $0.23 | ||
| Q2 25 | $0.50 | $0.19 | ||
| Q1 25 | $0.56 | $0.15 | ||
| Q4 24 | $0.43 | $0.13 | ||
| Q3 24 | $0.38 | $0.20 | ||
| Q2 24 | $0.40 | $0.15 | ||
| Q1 24 | $0.35 | $0.21 |
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 | $16.3M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | $220.0M | $542.6M |
| Total Assets | $668.6M | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $16.3M | ||
| Q3 25 | $17.1M | $29.6M | ||
| Q2 25 | $13.2M | $35.0M | ||
| Q1 25 | $21.2M | $22.6M | ||
| Q4 24 | $6.3M | $57.4M | ||
| Q3 24 | $8.9M | $48.8M | ||
| Q2 24 | $13.9M | $62.5M | ||
| Q1 24 | $11.0M | $65.4M |
| Q4 25 | — | $84.0M | ||
| Q3 25 | — | $85.2M | ||
| Q2 25 | — | $96.2M | ||
| Q1 25 | — | $97.4M | ||
| Q4 24 | — | $98.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
| Q4 25 | $220.0M | $542.6M | ||
| Q3 25 | $212.4M | $552.8M | ||
| Q2 25 | $202.5M | $548.3M | ||
| Q1 25 | $193.0M | $530.6M | ||
| Q4 24 | $181.9M | $554.5M | ||
| Q3 24 | $174.3M | $540.1M | ||
| Q2 24 | $167.8M | $532.7M | ||
| Q1 24 | $160.0M | $515.5M |
| Q4 25 | $668.6M | $707.1M | ||
| Q3 25 | $670.5M | $732.6M | ||
| Q2 25 | $659.0M | $731.8M | ||
| Q1 25 | $664.6M | $708.7M | ||
| Q4 24 | $648.9M | $746.4M | ||
| Q3 24 | $655.5M | $734.0M | ||
| Q2 24 | $654.4M | $756.8M | ||
| Q1 24 | $656.6M | $763.6M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.27× |
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 | $20.0M |
| Free Cash FlowOCF − Capex | $11.6M | $14.9M |
| FCF MarginFCF / Revenue | 3.4% | 6.2% |
| Capex IntensityCapex / Revenue | 2.9% | 2.1% |
| Cash ConversionOCF / Net Profit | 1.86× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $20.0M | ||
| Q3 25 | $15.6M | $33.2M | ||
| Q2 25 | $2.9M | $20.3M | ||
| Q1 25 | $34.1M | $10.1M | ||
| Q4 24 | $2.7M | $16.6M | ||
| Q3 24 | $24.5M | $28.6M | ||
| Q2 24 | $12.4M | $18.7M | ||
| Q1 24 | $20.2M | $15.0M |
| Q4 25 | $11.6M | $14.9M | ||
| Q3 25 | $7.5M | $27.6M | ||
| Q2 25 | $-4.2M | $17.6M | ||
| Q1 25 | $27.6M | $8.4M | ||
| Q4 24 | $-6.9M | $13.2M | ||
| Q3 24 | $18.0M | $27.5M | ||
| Q2 24 | $3.6M | $17.6M | ||
| Q1 24 | $9.8M | $13.7M |
| Q4 25 | 3.4% | 6.2% | ||
| Q3 25 | 2.2% | 10.7% | ||
| Q2 25 | -1.3% | 7.3% | ||
| Q1 25 | 8.2% | 3.8% | ||
| Q4 24 | -2.1% | 6.1% | ||
| Q3 24 | 5.6% | 11.4% | ||
| Q2 24 | 1.2% | 7.8% | ||
| Q1 24 | 3.2% | 6.5% |
| Q4 25 | 2.9% | 2.1% | ||
| Q3 25 | 2.4% | 2.2% | ||
| Q2 25 | 2.2% | 1.1% | ||
| Q1 25 | 1.9% | 0.8% | ||
| Q4 24 | 2.9% | 1.5% | ||
| Q3 24 | 2.0% | 0.5% | ||
| Q2 24 | 2.9% | 0.5% | ||
| Q1 24 | 3.4% | 0.6% |
| Q4 25 | 1.86× | 1.65× | ||
| Q3 25 | 1.32× | 1.36× | ||
| Q2 25 | 0.25× | 1.02× | ||
| Q1 25 | 2.60× | 0.66× | ||
| Q4 24 | 0.27× | 1.15× | ||
| Q3 24 | 2.72× | 1.33× | ||
| Q2 24 | 1.35× | 1.19× | ||
| Q1 24 | 2.54× | 0.71× |
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% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
