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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Perella Weinberg Partners (PWP). 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 $219.2M, roughly 1.5× Perella Weinberg Partners). Perella Weinberg Partners runs the higher net margin — 6.3% vs 3.4%, a 2.9% 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 -2.9%). Perella Weinberg Partners produced more free cash flow last quarter ($30.5M vs $11.6M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% 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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
NGVC vs PWP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $219.2M |
| Net Profit | $11.3M | $13.8M |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | 8.5% |
| Net Margin | 3.4% | 6.3% |
| Revenue YoY | 1.6% | -2.9% |
| Net Profit YoY | 14.0% | — |
| EPS (diluted) | $0.49 | $0.11 |
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 | $219.2M | ||
| Q3 25 | $336.1M | $164.6M | ||
| Q2 25 | $328.7M | $155.3M | ||
| Q1 25 | $335.8M | $211.8M | ||
| Q4 24 | $330.2M | $225.7M | ||
| Q3 24 | $322.7M | $278.2M | ||
| Q2 24 | $309.1M | $272.0M | ||
| Q1 24 | $308.1M | $102.1M |
| Q4 25 | $11.3M | $13.8M | ||
| Q3 25 | $11.8M | $6.0M | ||
| Q2 25 | $11.6M | $2.7M | ||
| Q1 25 | $13.1M | $17.3M | ||
| Q4 24 | $9.9M | — | ||
| Q3 24 | $9.0M | $16.4M | ||
| Q2 24 | $9.2M | $-66.0M | ||
| Q1 24 | $8.0M | $-35.8M |
| 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% | 8.5% | ||
| Q3 25 | 4.6% | 5.4% | ||
| Q2 25 | 4.7% | 5.8% | ||
| Q1 25 | 5.2% | 5.5% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 3.7% | 12.9% | ||
| Q2 24 | 4.2% | -30.2% | ||
| Q1 24 | 3.7% | -52.4% |
| Q4 25 | 3.4% | 6.3% | ||
| Q3 25 | 3.5% | 3.6% | ||
| Q2 25 | 3.5% | 1.8% | ||
| Q1 25 | 3.9% | 8.2% | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 2.8% | 5.9% | ||
| Q2 24 | 3.0% | -24.3% | ||
| Q1 24 | 2.6% | -35.1% |
| Q4 25 | $0.49 | $0.11 | ||
| Q3 25 | $0.51 | $0.08 | ||
| Q2 25 | $0.50 | $0.04 | ||
| Q1 25 | $0.56 | $0.24 | ||
| Q4 24 | $0.43 | — | ||
| Q3 24 | $0.38 | $0.24 | ||
| Q2 24 | $0.40 | $-1.21 | ||
| Q1 24 | $0.35 | $-0.91 |
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 | $255.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $220.0M | $-127.4M |
| Total Assets | $668.6M | $797.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $255.9M | ||
| Q3 25 | $17.1M | $185.5M | ||
| Q2 25 | $13.2M | $145.0M | ||
| Q1 25 | $21.2M | $111.2M | ||
| Q4 24 | $6.3M | $407.4M | ||
| Q3 24 | $8.9M | $335.1M | ||
| Q2 24 | $13.9M | $185.3M | ||
| Q1 24 | $11.0M | $156.7M |
| Q4 25 | $220.0M | $-127.4M | ||
| Q3 25 | $212.4M | $-302.4M | ||
| Q2 25 | $202.5M | $-318.4M | ||
| Q1 25 | $193.0M | $-323.1M | ||
| Q4 24 | $181.9M | $-421.4M | ||
| Q3 24 | $174.3M | $-360.8M | ||
| Q2 24 | $167.8M | $-283.0M | ||
| Q1 24 | $160.0M | $161.9M |
| Q4 25 | $668.6M | $797.6M | ||
| Q3 25 | $670.5M | $650.2M | ||
| Q2 25 | $659.0M | $606.7M | ||
| Q1 25 | $664.6M | $570.5M | ||
| Q4 24 | $648.9M | $876.8M | ||
| Q3 24 | $655.5M | $810.9M | ||
| Q2 24 | $654.4M | $645.5M | ||
| Q1 24 | $656.6M | $583.6M |
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 | $34.8M |
| Free Cash FlowOCF − Capex | $11.6M | $30.5M |
| FCF MarginFCF / Revenue | 3.4% | 13.9% |
| Capex IntensityCapex / Revenue | 2.9% | 2.0% |
| Cash ConversionOCF / Net Profit | 1.86× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $34.8M | ||
| Q3 25 | $15.6M | $59.2M | ||
| Q2 25 | $2.9M | $56.1M | ||
| Q1 25 | $34.1M | $-176.5M | ||
| Q4 24 | $2.7M | $223.4M | ||
| Q3 24 | $24.5M | $200.3M | ||
| Q2 24 | $12.4M | $90.0M | ||
| Q1 24 | $20.2M | $-206.3M |
| Q4 25 | $11.6M | $30.5M | ||
| Q3 25 | $7.5M | $57.6M | ||
| Q2 25 | $-4.2M | $55.3M | ||
| Q1 25 | $27.6M | $-177.6M | ||
| Q4 24 | $-6.9M | $207.0M | ||
| Q3 24 | $18.0M | $199.3M | ||
| Q2 24 | $3.6M | $83.7M | ||
| Q1 24 | $9.8M | $-214.8M |
| Q4 25 | 3.4% | 13.9% | ||
| Q3 25 | 2.2% | 35.0% | ||
| Q2 25 | -1.3% | 35.6% | ||
| Q1 25 | 8.2% | -83.8% | ||
| Q4 24 | -2.1% | 91.7% | ||
| Q3 24 | 5.6% | 71.6% | ||
| Q2 24 | 1.2% | 30.8% | ||
| Q1 24 | 3.2% | -210.3% |
| Q4 25 | 2.9% | 2.0% | ||
| Q3 25 | 2.4% | 0.9% | ||
| Q2 25 | 2.2% | 0.5% | ||
| Q1 25 | 1.9% | 0.5% | ||
| Q4 24 | 2.9% | 7.3% | ||
| Q3 24 | 2.0% | 0.4% | ||
| Q2 24 | 2.9% | 2.3% | ||
| Q1 24 | 3.4% | 8.3% |
| Q4 25 | 1.86× | 2.52× | ||
| Q3 25 | 1.32× | 9.85× | ||
| Q2 25 | 0.25× | 20.50× | ||
| Q1 25 | 2.60× | -10.18× | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | 2.72× | 12.23× | ||
| Q2 24 | 1.35× | — | ||
| Q1 24 | 2.54× | — |
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% |
PWP
Segment breakdown not available.
