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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Palomar Holdings, Inc. (PLMR). 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 $253.4M, roughly 1.3× Palomar Holdings, Inc.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 1.6%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $11.6M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% 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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
NGVC vs PLMR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $253.4M |
| Net Profit | $11.3M | — |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | 28.7% |
| Net Margin | 3.4% | — |
| Revenue YoY | 1.6% | 62.7% |
| Net Profit YoY | 14.0% | — |
| EPS (diluted) | $0.49 | $2.05 |
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 | $253.4M | ||
| Q3 25 | $336.1M | $244.7M | ||
| Q2 25 | $328.7M | $203.3M | ||
| Q1 25 | $335.8M | $174.6M | ||
| Q4 24 | $330.2M | $155.8M | ||
| Q3 24 | $322.7M | $148.5M | ||
| Q2 24 | $309.1M | $131.1M | ||
| Q1 24 | $308.1M | $118.5M |
| Q4 25 | $11.3M | — | ||
| Q3 25 | $11.8M | $51.5M | ||
| Q2 25 | $11.6M | $46.5M | ||
| Q1 25 | $13.1M | $42.9M | ||
| Q4 24 | $9.9M | — | ||
| Q3 24 | $9.0M | $30.5M | ||
| Q2 24 | $9.2M | $25.7M | ||
| Q1 24 | $8.0M | $26.4M |
| 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% | 28.7% | ||
| Q3 25 | 4.6% | 27.4% | ||
| Q2 25 | 4.7% | 29.5% | ||
| Q1 25 | 5.2% | 30.8% | ||
| Q4 24 | 4.0% | 28.9% | ||
| Q3 24 | 3.7% | 25.9% | ||
| Q2 24 | 4.2% | 25.5% | ||
| Q1 24 | 3.7% | 29.0% |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 3.5% | 21.0% | ||
| Q2 25 | 3.5% | 22.9% | ||
| Q1 25 | 3.9% | 24.6% | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 2.8% | 20.5% | ||
| Q2 24 | 3.0% | 19.6% | ||
| Q1 24 | 2.6% | 22.3% |
| Q4 25 | $0.49 | $2.05 | ||
| Q3 25 | $0.51 | $1.87 | ||
| Q2 25 | $0.50 | $1.68 | ||
| Q1 25 | $0.56 | $1.57 | ||
| Q4 24 | $0.43 | $1.29 | ||
| Q3 24 | $0.38 | $1.15 | ||
| Q2 24 | $0.40 | $1.00 | ||
| Q1 24 | $0.35 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $220.0M | $942.7M |
| Total Assets | $668.6M | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $106.9M | ||
| Q3 25 | $17.1M | $111.7M | ||
| Q2 25 | $13.2M | $81.3M | ||
| Q1 25 | $21.2M | $119.3M | ||
| Q4 24 | $6.3M | $80.4M | ||
| Q3 24 | $8.9M | $86.5M | ||
| Q2 24 | $13.9M | $47.8M | ||
| Q1 24 | $11.0M | $61.4M |
| Q4 25 | $220.0M | $942.7M | ||
| Q3 25 | $212.4M | $878.1M | ||
| Q2 25 | $202.5M | $847.2M | ||
| Q1 25 | $193.0M | $790.4M | ||
| Q4 24 | $181.9M | $729.0M | ||
| Q3 24 | $174.3M | $703.3M | ||
| Q2 24 | $167.8M | $532.6M | ||
| Q1 24 | $160.0M | $501.7M |
| Q4 25 | $668.6M | $3.1B | ||
| Q3 25 | $670.5M | $2.9B | ||
| Q2 25 | $659.0M | $2.8B | ||
| Q1 25 | $664.6M | $2.4B | ||
| Q4 24 | $648.9M | $2.3B | ||
| Q3 24 | $655.5M | $2.3B | ||
| Q2 24 | $654.4M | $2.0B | ||
| Q1 24 | $656.6M | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | $11.6M | $409.0M |
| FCF MarginFCF / Revenue | 3.4% | 161.4% |
| Capex IntensityCapex / Revenue | 2.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $409.1M | ||
| Q3 25 | $15.6M | $83.6M | ||
| Q2 25 | $2.9M | $120.9M | ||
| Q1 25 | $34.1M | $87.2M | ||
| Q4 24 | $2.7M | $261.2M | ||
| Q3 24 | $24.5M | $100.3M | ||
| Q2 24 | $12.4M | $55.1M | ||
| Q1 24 | $20.2M | $33.1M |
| Q4 25 | $11.6M | $409.0M | ||
| Q3 25 | $7.5M | $83.6M | ||
| Q2 25 | $-4.2M | $120.8M | ||
| Q1 25 | $27.6M | $87.1M | ||
| Q4 24 | $-6.9M | $260.9M | ||
| Q3 24 | $18.0M | $100.1M | ||
| Q2 24 | $3.6M | — | ||
| Q1 24 | $9.8M | — |
| Q4 25 | 3.4% | 161.4% | ||
| Q3 25 | 2.2% | 34.2% | ||
| Q2 25 | -1.3% | 59.4% | ||
| Q1 25 | 8.2% | 49.9% | ||
| Q4 24 | -2.1% | 167.5% | ||
| Q3 24 | 5.6% | 67.4% | ||
| Q2 24 | 1.2% | — | ||
| Q1 24 | 3.2% | — |
| Q4 25 | 2.9% | 0.1% | ||
| Q3 25 | 2.4% | 0.0% | ||
| Q2 25 | 2.2% | 0.0% | ||
| Q1 25 | 1.9% | 0.0% | ||
| Q4 24 | 2.9% | 0.2% | ||
| Q3 24 | 2.0% | 0.1% | ||
| Q2 24 | 2.9% | 0.0% | ||
| Q1 24 | 3.4% | 0.0% |
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | 1.63× | ||
| Q2 25 | 0.25× | 2.60× | ||
| Q1 25 | 2.60× | 2.03× | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | 2.72× | 3.29× | ||
| Q2 24 | 1.35× | 2.14× | ||
| Q1 24 | 2.54× | 1.26× |
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% |
PLMR
Segment breakdown not available.
