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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and RideNow Group, Inc. (RDNW). 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 $256.9M, roughly 1.3× RideNow Group, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -2.5%, a 5.9% 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 -4.7%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-200.0K). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -8.6%).
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.
RideNow Group, Inc. is a leading U.S. retailer of new and used powersports vehicles, including motorcycles, all-terrain vehicles, side-by-sides, personal watercraft, and snowmobiles. It also offers related parts, repair services, and financing options for powersports enthusiasts across over 20 U.S. states.
NGVC vs RDNW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $256.9M |
| Net Profit | $11.3M | $-6.4M |
| Gross Margin | 29.5% | 27.6% |
| Operating Margin | 4.4% | 2.1% |
| Net Margin | 3.4% | -2.5% |
| Revenue YoY | 1.6% | -4.7% |
| Net Profit YoY | 14.0% | 88.7% |
| EPS (diluted) | $0.49 | $-0.16 |
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 | $256.9M | ||
| Q3 25 | $336.1M | $281.0M | ||
| Q2 25 | $328.7M | $299.9M | ||
| Q1 25 | $335.8M | $244.7M | ||
| Q4 24 | $330.2M | $269.6M | ||
| Q3 24 | $322.7M | $295.0M | ||
| Q2 24 | $309.1M | $336.8M | ||
| Q1 24 | $308.1M | $307.8M |
| Q4 25 | $11.3M | $-6.4M | ||
| Q3 25 | $11.8M | $-4.1M | ||
| Q2 25 | $11.6M | $-32.2M | ||
| Q1 25 | $13.1M | $-9.7M | ||
| Q4 24 | $9.9M | $-56.4M | ||
| Q3 24 | $9.0M | $-11.2M | ||
| Q2 24 | $9.2M | $-700.0K | ||
| Q1 24 | $8.0M | $-10.3M |
| Q4 25 | 29.5% | 27.6% | ||
| Q3 25 | 29.5% | 27.0% | ||
| Q2 25 | 29.9% | 28.0% | ||
| Q1 25 | 30.3% | 27.5% | ||
| Q4 24 | 29.9% | 25.0% | ||
| Q3 24 | 29.6% | 25.2% | ||
| Q2 24 | 29.2% | 26.7% | ||
| Q1 24 | 29.3% | 26.8% |
| Q4 25 | 4.4% | 2.1% | ||
| Q3 25 | 4.6% | 3.3% | ||
| Q2 25 | 4.7% | -6.3% | ||
| Q1 25 | 5.2% | 1.6% | ||
| Q4 24 | 4.0% | -15.2% | ||
| Q3 24 | 3.7% | 1.8% | ||
| Q2 24 | 4.2% | 4.6% | ||
| Q1 24 | 3.7% | 1.7% |
| Q4 25 | 3.4% | -2.5% | ||
| Q3 25 | 3.5% | -1.5% | ||
| Q2 25 | 3.5% | -10.7% | ||
| Q1 25 | 3.9% | -4.0% | ||
| Q4 24 | 3.0% | -20.9% | ||
| Q3 24 | 2.8% | -3.8% | ||
| Q2 24 | 3.0% | -0.2% | ||
| Q1 24 | 2.6% | -3.3% |
| Q4 25 | $0.49 | $-0.16 | ||
| Q3 25 | $0.51 | $-0.11 | ||
| Q2 25 | $0.50 | $-0.85 | ||
| Q1 25 | $0.56 | $-0.26 | ||
| Q4 24 | $0.43 | $-1.59 | ||
| Q3 24 | $0.38 | $-0.32 | ||
| Q2 24 | $0.40 | $-0.02 | ||
| Q1 24 | $0.35 | $-0.29 |
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 | $29.5M |
| Total DebtLower is stronger | — | $218.8M |
| Stockholders' EquityBook value | $220.0M | $-12.5M |
| Total Assets | $668.6M | $673.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $29.5M | ||
| Q3 25 | $17.1M | $35.4M | ||
| Q2 25 | $13.2M | $44.7M | ||
| Q1 25 | $21.2M | $41.1M | ||
| Q4 24 | $6.3M | $85.3M | ||
| Q3 24 | $8.9M | $50.1M | ||
| Q2 24 | $13.9M | $58.1M | ||
| Q1 24 | $11.0M | $50.3M |
| Q4 25 | — | $218.8M | ||
| Q3 25 | — | $207.5M | ||
| Q2 25 | — | $218.4M | ||
| Q1 25 | — | $215.5M | ||
| Q4 24 | — | $267.4M | ||
| Q3 24 | — | $249.0M | ||
| Q2 24 | — | $247.7M | ||
| Q1 24 | — | $245.2M |
| Q4 25 | $220.0M | $-12.5M | ||
| Q3 25 | $212.4M | $-6.9M | ||
| Q2 25 | $202.5M | $-4.7M | ||
| Q1 25 | $193.0M | $26.9M | ||
| Q4 24 | $181.9M | $36.7M | ||
| Q3 24 | $174.3M | $83.3M | ||
| Q2 24 | $167.8M | $93.4M | ||
| Q1 24 | $160.0M | $92.7M |
| Q4 25 | $668.6M | $673.6M | ||
| Q3 25 | $670.5M | $699.4M | ||
| Q2 25 | $659.0M | $712.3M | ||
| Q1 25 | $664.6M | $738.9M | ||
| Q4 24 | $648.9M | $755.2M | ||
| Q3 24 | $655.5M | $830.5M | ||
| Q2 24 | $654.4M | $896.0M | ||
| Q1 24 | $656.6M | $898.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 8.01× | ||
| Q4 24 | — | 7.29× | ||
| Q3 24 | — | 2.99× | ||
| Q2 24 | — | 2.65× | ||
| Q1 24 | — | 2.65× |
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 | $400.0K |
| Free Cash FlowOCF − Capex | $11.6M | $-200.0K |
| FCF MarginFCF / Revenue | 3.4% | -0.1% |
| Capex IntensityCapex / Revenue | 2.9% | 0.2% |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $10.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $400.0K | ||
| Q3 25 | $15.6M | $11.5M | ||
| Q2 25 | $2.9M | $10.9M | ||
| Q1 25 | $34.1M | $-6.9M | ||
| Q4 24 | $2.7M | $30.8M | ||
| Q3 24 | $24.5M | $39.4M | ||
| Q2 24 | $12.4M | $12.2M | ||
| Q1 24 | $20.2M | $17.0M |
| Q4 25 | $11.6M | $-200.0K | ||
| Q3 25 | $7.5M | $9.4M | ||
| Q2 25 | $-4.2M | $8.5M | ||
| Q1 25 | $27.6M | $-7.4M | ||
| Q4 24 | $-6.9M | $30.4M | ||
| Q3 24 | $18.0M | $38.8M | ||
| Q2 24 | $3.6M | $11.8M | ||
| Q1 24 | $9.8M | $16.4M |
| Q4 25 | 3.4% | -0.1% | ||
| Q3 25 | 2.2% | 3.3% | ||
| Q2 25 | -1.3% | 2.8% | ||
| Q1 25 | 8.2% | -3.0% | ||
| Q4 24 | -2.1% | 11.3% | ||
| Q3 24 | 5.6% | 13.2% | ||
| Q2 24 | 1.2% | 3.5% | ||
| Q1 24 | 3.2% | 5.3% |
| Q4 25 | 2.9% | 0.2% | ||
| Q3 25 | 2.4% | 0.7% | ||
| Q2 25 | 2.2% | 0.8% | ||
| Q1 25 | 1.9% | 0.2% | ||
| Q4 24 | 2.9% | 0.1% | ||
| Q3 24 | 2.0% | 0.2% | ||
| Q2 24 | 2.9% | 0.1% | ||
| Q1 24 | 3.4% | 0.2% |
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 2.60× | — | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | 2.72× | — | ||
| 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% |
RDNW
| Powersports New Vehicles | $133.5M | 52% |
| Parts And Other Revenue | $48.5M | 19% |
| Powersports Pre Owned Vehicles | $45.8M | 18% |
| Finance And Insurance | $24.1M | 9% |
| Vehicle Transportation Services Segment | $800.0K | 0% |
