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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Phoenix Education Partners, Inc. (PXED). 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 $222.5M, roughly 1.5× Phoenix Education Partners, Inc.). Phoenix Education Partners, Inc. runs the higher net margin — 4.8% vs 3.4%, a 1.5% gap on every dollar of revenue. Phoenix Education Partners, Inc. produced more free cash flow last quarter ($43.5M vs $11.6M).

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.

The University of Phoenix (UoPX) is a private for-profit university headquartered in Phoenix, Arizona. Founded in 1976, the university confers certificates and degrees at the certificate, associate, bachelor's, master's, and doctoral degree levels. It is institutionally accredited by the Higher Learning Commission and has an open enrollment admissions policy for many undergraduate programs. The school is owned by Phoenix Education Partners.

NGVC vs PXED — Head-to-Head

Bigger by revenue
NGVC
NGVC
1.5× larger
NGVC
$335.6M
$222.5M
PXED
Higher net margin
PXED
PXED
1.5% more per $
PXED
4.8%
3.4%
NGVC
More free cash flow
PXED
PXED
$32.0M more FCF
PXED
$43.5M
$11.6M
NGVC

Income Statement — Q1 FY2026 vs Q2 FY2026

Metric
NGVC
NGVC
PXED
PXED
Revenue
$335.6M
$222.5M
Net Profit
$11.3M
$10.8M
Gross Margin
29.5%
Operating Margin
4.4%
6.3%
Net Margin
3.4%
4.8%
Revenue YoY
1.6%
Net Profit YoY
14.0%
EPS (diluted)
$0.49
$0.28

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.

Revenue
NGVC
NGVC
PXED
PXED
Q1 26
$222.5M
Q4 25
$335.6M
$262.0M
Q3 25
$336.1M
Q2 25
$328.7M
Q1 25
$335.8M
Q4 24
$330.2M
Q3 24
$322.7M
Q2 24
$309.1M
Net Profit
NGVC
NGVC
PXED
PXED
Q1 26
$10.8M
Q4 25
$11.3M
$15.5M
Q3 25
$11.8M
Q2 25
$11.6M
Q1 25
$13.1M
Q4 24
$9.9M
Q3 24
$9.0M
Q2 24
$9.2M
Gross Margin
NGVC
NGVC
PXED
PXED
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%
Operating Margin
NGVC
NGVC
PXED
PXED
Q1 26
6.3%
Q4 25
4.4%
9.8%
Q3 25
4.6%
Q2 25
4.7%
Q1 25
5.2%
Q4 24
4.0%
Q3 24
3.7%
Q2 24
4.2%
Net Margin
NGVC
NGVC
PXED
PXED
Q1 26
4.8%
Q4 25
3.4%
5.9%
Q3 25
3.5%
Q2 25
3.5%
Q1 25
3.9%
Q4 24
3.0%
Q3 24
2.8%
Q2 24
3.0%
EPS (diluted)
NGVC
NGVC
PXED
PXED
Q1 26
$0.28
Q4 25
$0.49
$0.40
Q3 25
$0.51
Q2 25
$0.50
Q1 25
$0.56
Q4 24
$0.43
Q3 24
$0.38
Q2 24
$0.40

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
NGVC
NGVC
PXED
PXED
Cash + ST InvestmentsLiquidity on hand
$23.2M
$201.4M
Total DebtLower is stronger
$58.8M
Stockholders' EquityBook value
$220.0M
$291.1M
Total Assets
$668.6M
$546.4M
Debt / EquityLower = less leverage
0.20×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NGVC
NGVC
PXED
PXED
Q1 26
$201.4M
Q4 25
$23.2M
$163.5M
Q3 25
$17.1M
Q2 25
$13.2M
Q1 25
$21.2M
Q4 24
$6.3M
Q3 24
$8.9M
Q2 24
$13.9M
Total Debt
NGVC
NGVC
PXED
PXED
Q1 26
$58.8M
Q4 25
$61.6M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Stockholders' Equity
NGVC
NGVC
PXED
PXED
Q1 26
$291.1M
Q4 25
$220.0M
$280.4M
Q3 25
$212.4M
Q2 25
$202.5M
Q1 25
$193.0M
Q4 24
$181.9M
Q3 24
$174.3M
Q2 24
$167.8M
Total Assets
NGVC
NGVC
PXED
PXED
Q1 26
$546.4M
Q4 25
$668.6M
$549.6M
Q3 25
$670.5M
Q2 25
$659.0M
Q1 25
$664.6M
Q4 24
$648.9M
Q3 24
$655.5M
Q2 24
$654.4M
Debt / Equity
NGVC
NGVC
PXED
PXED
Q1 26
0.20×
Q4 25
0.22×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
NGVC
NGVC
PXED
PXED
Operating Cash FlowLast quarter
$21.1M
$48.9M
Free Cash FlowOCF − Capex
$11.6M
$43.5M
FCF MarginFCF / Revenue
3.4%
19.6%
Capex IntensityCapex / Revenue
2.9%
2.4%
Cash ConversionOCF / Net Profit
1.86×
4.53×
TTM Free Cash FlowTrailing 4 quarters
$42.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NGVC
NGVC
PXED
PXED
Q1 26
$48.9M
Q4 25
$21.1M
$31.1M
Q3 25
$15.6M
Q2 25
$2.9M
Q1 25
$34.1M
Q4 24
$2.7M
Q3 24
$24.5M
Q2 24
$12.4M
Free Cash Flow
NGVC
NGVC
PXED
PXED
Q1 26
$43.5M
Q4 25
$11.6M
$26.4M
Q3 25
$7.5M
Q2 25
$-4.2M
Q1 25
$27.6M
Q4 24
$-6.9M
Q3 24
$18.0M
Q2 24
$3.6M
FCF Margin
NGVC
NGVC
PXED
PXED
Q1 26
19.6%
Q4 25
3.4%
10.1%
Q3 25
2.2%
Q2 25
-1.3%
Q1 25
8.2%
Q4 24
-2.1%
Q3 24
5.6%
Q2 24
1.2%
Capex Intensity
NGVC
NGVC
PXED
PXED
Q1 26
2.4%
Q4 25
2.9%
1.8%
Q3 25
2.4%
Q2 25
2.2%
Q1 25
1.9%
Q4 24
2.9%
Q3 24
2.0%
Q2 24
2.9%
Cash Conversion
NGVC
NGVC
PXED
PXED
Q1 26
4.53×
Q4 25
1.86×
2.01×
Q3 25
1.32×
Q2 25
0.25×
Q1 25
2.60×
Q4 24
0.27×
Q3 24
2.72×
Q2 24
1.35×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

NGVC
NGVC

Grocery$243.8M73%
Dietary Supplements$60.7M18%
Manufactured Product Other$31.0M9%

PXED
PXED

Segment breakdown not available.

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