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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Remitly Global, Inc. (RELY). Click either name above to swap in a different company.
Remitly Global, Inc. is the larger business by last-quarter revenue ($442.2M vs $335.6M, roughly 1.3× Natural Grocers by Vitamin Cottage, Inc.). Remitly Global, Inc. runs the higher net margin — 9.3% vs 3.4%, a 5.9% gap on every dollar of revenue. On growth, Remitly Global, Inc. posted the faster year-over-year revenue change (25.7% vs 1.6%). Remitly Global, Inc. produced more free cash flow last quarter ($143.3M vs $11.6M). Over the past eight quarters, Remitly Global, Inc.'s revenue compounded faster (28.2% 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.
Remitly is an American online remittance service based in Seattle, United States that offers international money transfers to over 170 countries. It was founded in 2011 by Matthew Oppenheimer, Josh Hug, and Shivaas Gulati and became publicly traded on the Nasdaq exchange in September 2021.
NGVC vs RELY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $442.2M |
| Net Profit | $11.3M | $41.2M |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | 8.8% |
| Net Margin | 3.4% | 9.3% |
| Revenue YoY | 1.6% | 25.7% |
| Net Profit YoY | 14.0% | 820.1% |
| EPS (diluted) | $0.49 | $0.19 |
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 | $442.2M | ||
| Q3 25 | $336.1M | $419.5M | ||
| Q2 25 | $328.7M | $411.9M | ||
| Q1 25 | $335.8M | $361.6M | ||
| Q4 24 | $330.2M | $351.9M | ||
| Q3 24 | $322.7M | $336.5M | ||
| Q2 24 | $309.1M | $306.4M | ||
| Q1 24 | $308.1M | $269.1M |
| Q4 25 | $11.3M | $41.2M | ||
| Q3 25 | $11.8M | $8.8M | ||
| Q2 25 | $11.6M | $6.5M | ||
| Q1 25 | $13.1M | $11.4M | ||
| Q4 24 | $9.9M | $-5.7M | ||
| Q3 24 | $9.0M | $1.9M | ||
| Q2 24 | $9.2M | $-12.1M | ||
| Q1 24 | $8.0M | $-21.1M |
| 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% | 8.8% | ||
| Q3 25 | 4.6% | 2.8% | ||
| Q2 25 | 4.7% | 3.6% | ||
| Q1 25 | 5.2% | 3.4% | ||
| Q4 24 | 4.0% | -1.1% | ||
| Q3 24 | 3.7% | 0.1% | ||
| Q2 24 | 4.2% | -5.1% | ||
| Q1 24 | 3.7% | -7.4% |
| Q4 25 | 3.4% | 9.3% | ||
| Q3 25 | 3.5% | 2.1% | ||
| Q2 25 | 3.5% | 1.6% | ||
| Q1 25 | 3.9% | 3.1% | ||
| Q4 24 | 3.0% | -1.6% | ||
| Q3 24 | 2.8% | 0.6% | ||
| Q2 24 | 3.0% | -3.9% | ||
| Q1 24 | 2.6% | -7.8% |
| Q4 25 | $0.49 | $0.19 | ||
| Q3 25 | $0.51 | $0.04 | ||
| Q2 25 | $0.50 | $0.03 | ||
| Q1 25 | $0.56 | $0.05 | ||
| Q4 24 | $0.43 | $-0.03 | ||
| Q3 24 | $0.38 | $0.01 | ||
| Q2 24 | $0.40 | $-0.06 | ||
| Q1 24 | $0.35 | $-0.11 |
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 | $542.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $220.0M | $868.8M |
| Total Assets | $668.6M | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $542.4M | ||
| Q3 25 | $17.1M | $476.9M | ||
| Q2 25 | $13.2M | $515.9M | ||
| Q1 25 | $21.2M | $493.9M | ||
| Q4 24 | $6.3M | $368.1M | ||
| Q3 24 | $8.9M | $324.4M | ||
| Q2 24 | $13.9M | $185.2M | ||
| Q1 24 | $11.0M | $286.0M |
| Q4 25 | $220.0M | $868.8M | ||
| Q3 25 | $212.4M | $797.2M | ||
| Q2 25 | $202.5M | $764.9M | ||
| Q1 25 | $193.0M | $723.5M | ||
| Q4 24 | $181.9M | $665.5M | ||
| Q3 24 | $174.3M | $630.8M | ||
| Q2 24 | $167.8M | $578.9M | ||
| Q1 24 | $160.0M | $549.4M |
| Q4 25 | $668.6M | $1.5B | ||
| Q3 25 | $670.5M | $1.2B | ||
| Q2 25 | $659.0M | $1.2B | ||
| Q1 25 | $664.6M | $1.1B | ||
| Q4 24 | $648.9M | $1.0B | ||
| Q3 24 | $655.5M | $970.4M | ||
| Q2 24 | $654.4M | $950.2M | ||
| Q1 24 | $656.6M | $1.1B |
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 | $149.6M |
| Free Cash FlowOCF − Capex | $11.6M | $143.3M |
| FCF MarginFCF / Revenue | 3.4% | 32.4% |
| Capex IntensityCapex / Revenue | 2.9% | 1.4% |
| Cash ConversionOCF / Net Profit | 1.86× | 3.63× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $288.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $149.6M | ||
| Q3 25 | $15.6M | $1.4M | ||
| Q2 25 | $2.9M | $41.2M | ||
| Q1 25 | $34.1M | $132.9M | ||
| Q4 24 | $2.7M | $-27.3M | ||
| Q3 24 | $24.5M | $146.8M | ||
| Q2 24 | $12.4M | $48.9M | ||
| Q1 24 | $20.2M | $-56.8M |
| Q4 25 | $11.6M | $143.3M | ||
| Q3 25 | $7.5M | $-2.1M | ||
| Q2 25 | $-4.2M | $28.6M | ||
| Q1 25 | $27.6M | $118.9M | ||
| Q4 24 | $-6.9M | $-30.1M | ||
| Q3 24 | $18.0M | $145.6M | ||
| Q2 24 | $3.6M | $47.8M | ||
| Q1 24 | $9.8M | $-57.8M |
| Q4 25 | 3.4% | 32.4% | ||
| Q3 25 | 2.2% | -0.5% | ||
| Q2 25 | -1.3% | 6.9% | ||
| Q1 25 | 8.2% | 32.9% | ||
| Q4 24 | -2.1% | -8.5% | ||
| Q3 24 | 5.6% | 43.3% | ||
| Q2 24 | 1.2% | 15.6% | ||
| Q1 24 | 3.2% | -21.5% |
| Q4 25 | 2.9% | 1.4% | ||
| Q3 25 | 2.4% | 0.8% | ||
| Q2 25 | 2.2% | 3.1% | ||
| Q1 25 | 1.9% | 3.9% | ||
| Q4 24 | 2.9% | 0.8% | ||
| Q3 24 | 2.0% | 0.3% | ||
| Q2 24 | 2.9% | 0.4% | ||
| Q1 24 | 3.4% | 0.4% |
| Q4 25 | 1.86× | 3.63× | ||
| Q3 25 | 1.32× | 0.16× | ||
| Q2 25 | 0.25× | 6.30× | ||
| Q1 25 | 2.60× | 11.71× | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | 2.72× | 76.56× | ||
| 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% |
RELY
Segment breakdown not available.
