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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
Paylocity Holding Corp is the larger business by last-quarter revenue ($387.0M vs $335.6M, roughly 1.2× Natural Grocers by Vitamin Cottage, Inc.). Paylocity Holding Corp runs the higher net margin — 13.0% vs 3.4%, a 9.6% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs 1.6%). Paylocity Holding Corp produced more free cash flow last quarter ($113.6M vs $11.6M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs 2.7%).
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.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
NGVC vs PCTY — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $387.0M |
| Net Profit | $11.3M | $50.2M |
| Gross Margin | 29.5% | 72.9% |
| Operating Margin | 4.4% | 18.2% |
| Net Margin | 3.4% | 13.0% |
| Revenue YoY | 1.6% | 11.3% |
| Net Profit YoY | 14.0% | 34.0% |
| EPS (diluted) | $0.49 | $0.92 |
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 | $387.0M | ||
| Q3 25 | $336.1M | $378.9M | ||
| Q2 25 | $328.7M | $369.9M | ||
| Q1 25 | $335.8M | $421.1M | ||
| Q4 24 | $330.2M | $347.7M | ||
| Q3 24 | $322.7M | $333.1M | ||
| Q2 24 | $309.1M | $324.7M | ||
| Q1 24 | $308.1M | $366.8M |
| Q4 25 | $11.3M | $50.2M | ||
| Q3 25 | $11.8M | $48.0M | ||
| Q2 25 | $11.6M | $48.6M | ||
| Q1 25 | $13.1M | $91.5M | ||
| Q4 24 | $9.9M | $37.5M | ||
| Q3 24 | $9.0M | $49.6M | ||
| Q2 24 | $9.2M | $48.8M | ||
| Q1 24 | $8.0M | $85.3M |
| Q4 25 | 29.5% | 72.9% | ||
| Q3 25 | 29.5% | 73.9% | ||
| Q2 25 | 29.9% | 73.5% | ||
| Q1 25 | 30.3% | 77.1% | ||
| Q4 24 | 29.9% | 72.6% | ||
| Q3 24 | 29.6% | 74.4% | ||
| Q2 24 | 29.2% | 74.0% | ||
| Q1 24 | 29.3% | 77.8% |
| Q4 25 | 4.4% | 18.2% | ||
| Q3 25 | 4.6% | 19.6% | ||
| Q2 25 | 4.7% | 17.9% | ||
| Q1 25 | 5.2% | 30.2% | ||
| Q4 24 | 4.0% | 13.4% | ||
| Q3 24 | 3.7% | 19.3% | ||
| Q2 24 | 4.2% | 19.4% | ||
| Q1 24 | 3.7% | 29.0% |
| Q4 25 | 3.4% | 13.0% | ||
| Q3 25 | 3.5% | 12.7% | ||
| Q2 25 | 3.5% | 13.1% | ||
| Q1 25 | 3.9% | 21.7% | ||
| Q4 24 | 3.0% | 10.8% | ||
| Q3 24 | 2.8% | 14.9% | ||
| Q2 24 | 3.0% | 15.0% | ||
| Q1 24 | 2.6% | 23.3% |
| Q4 25 | $0.49 | $0.92 | ||
| Q3 25 | $0.51 | $0.86 | ||
| Q2 25 | $0.50 | $0.87 | ||
| Q1 25 | $0.56 | $1.61 | ||
| Q4 24 | $0.43 | $0.66 | ||
| Q3 24 | $0.38 | $0.88 | ||
| Q2 24 | $0.40 | $0.85 | ||
| Q1 24 | $0.35 | $1.50 |
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 | $162.5M |
| Total DebtLower is stronger | — | $81.3M |
| Stockholders' EquityBook value | $220.0M | $1.1B |
| Total Assets | $668.6M | $7.0B |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $162.5M | ||
| Q3 25 | $17.1M | $165.2M | ||
| Q2 25 | $13.2M | $398.1M | ||
| Q1 25 | $21.2M | $477.8M | ||
| Q4 24 | $6.3M | $482.4M | ||
| Q3 24 | $8.9M | $778.5M | ||
| Q2 24 | $13.9M | $401.8M | ||
| Q1 24 | $11.0M | $492.7M |
| Q4 25 | — | $81.3M | ||
| Q3 25 | — | $81.3M | ||
| Q2 25 | — | $162.5M | ||
| Q1 25 | — | $243.8M | ||
| Q4 24 | — | $325.0M | ||
| Q3 24 | — | $325.0M | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | — |
| Q4 25 | $220.0M | $1.1B | ||
| Q3 25 | $212.4M | $1.1B | ||
| Q2 25 | $202.5M | $1.2B | ||
| Q1 25 | $193.0M | $1.2B | ||
| Q4 24 | $181.9M | $1.2B | ||
| Q3 24 | $174.3M | $1.1B | ||
| Q2 24 | $167.8M | $1.0B | ||
| Q1 24 | $160.0M | $1.1B |
| Q4 25 | $668.6M | $7.0B | ||
| Q3 25 | $670.5M | $4.2B | ||
| Q2 25 | $659.0M | $4.4B | ||
| Q1 25 | $664.6M | $5.2B | ||
| Q4 24 | $648.9M | $5.3B | ||
| Q3 24 | $655.5M | $4.0B | ||
| Q2 24 | $654.4M | $4.2B | ||
| Q1 24 | $656.6M | $5.0B |
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | 0.29× | ||
| Q2 24 | — | 0.00× | ||
| 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 | $21.1M | $117.0M |
| Free Cash FlowOCF − Capex | $11.6M | $113.6M |
| FCF MarginFCF / Revenue | 3.4% | 29.4% |
| Capex IntensityCapex / Revenue | 2.9% | 0.9% |
| Cash ConversionOCF / Net Profit | 1.86× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $461.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $117.0M | ||
| Q3 25 | $15.6M | $86.5M | ||
| Q2 25 | $2.9M | $86.6M | ||
| Q1 25 | $34.1M | $186.0M | ||
| Q4 24 | $2.7M | $54.2M | ||
| Q3 24 | $24.5M | $91.5M | ||
| Q2 24 | $12.4M | $79.9M | ||
| Q1 24 | $20.2M | $167.5M |
| Q4 25 | $11.6M | $113.6M | ||
| Q3 25 | $7.5M | $82.7M | ||
| Q2 25 | $-4.2M | $81.1M | ||
| Q1 25 | $27.6M | $183.7M | ||
| Q4 24 | $-6.9M | $51.2M | ||
| Q3 24 | $18.0M | $89.1M | ||
| Q2 24 | $3.6M | $73.6M | ||
| Q1 24 | $9.8M | $162.0M |
| Q4 25 | 3.4% | 29.4% | ||
| Q3 25 | 2.2% | 21.8% | ||
| Q2 25 | -1.3% | 21.9% | ||
| Q1 25 | 8.2% | 43.6% | ||
| Q4 24 | -2.1% | 14.7% | ||
| Q3 24 | 5.6% | 26.8% | ||
| Q2 24 | 1.2% | 22.7% | ||
| Q1 24 | 3.2% | 44.2% |
| Q4 25 | 2.9% | 0.9% | ||
| Q3 25 | 2.4% | 1.0% | ||
| Q2 25 | 2.2% | 1.5% | ||
| Q1 25 | 1.9% | 0.5% | ||
| Q4 24 | 2.9% | 0.9% | ||
| Q3 24 | 2.0% | 0.7% | ||
| Q2 24 | 2.9% | 1.9% | ||
| Q1 24 | 3.4% | 1.5% |
| Q4 25 | 1.86× | 2.33× | ||
| Q3 25 | 1.32× | 1.80× | ||
| Q2 25 | 0.25× | 1.78× | ||
| Q1 25 | 2.60× | 2.03× | ||
| Q4 24 | 0.27× | 1.45× | ||
| Q3 24 | 2.72× | 1.84× | ||
| Q2 24 | 1.35× | 1.64× | ||
| Q1 24 | 2.54× | 1.96× |
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% |
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
