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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and BRC Group Holdings, Inc. (RILY). 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 $188.3M, roughly 1.8× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 3.4%, a 44.6% 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 -21.9%). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -15.4%).
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.
NGVC vs RILY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $188.3M |
| Net Profit | $11.3M | $90.3M |
| Gross Margin | 29.5% | 79.5% |
| Operating Margin | 4.4% | 32.3% |
| Net Margin | 3.4% | 47.9% |
| Revenue YoY | 1.6% | -21.9% |
| Net Profit YoY | 14.0% | 1710.8% |
| EPS (diluted) | $0.49 | $2.78 |
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 | $188.3M | ||
| Q3 25 | $336.1M | $215.3M | ||
| Q2 25 | $328.7M | $188.2M | ||
| Q1 25 | $335.8M | $197.2M | ||
| Q4 24 | $330.2M | $241.0M | ||
| Q3 24 | $322.7M | $225.5M | ||
| Q2 24 | $309.1M | $256.0M | ||
| Q1 24 | $308.1M | $263.4M |
| Q4 25 | $11.3M | $90.3M | ||
| Q3 25 | $11.8M | $91.1M | ||
| Q2 25 | $11.6M | $139.5M | ||
| Q1 25 | $13.1M | $-10.0M | ||
| Q4 24 | $9.9M | $-5.6M | ||
| Q3 24 | $9.0M | $-284.4M | ||
| Q2 24 | $9.2M | $-433.6M | ||
| Q1 24 | $8.0M | $-49.2M |
| Q4 25 | 29.5% | 79.5% | ||
| Q3 25 | 29.5% | 83.7% | ||
| Q2 25 | 29.9% | 81.3% | ||
| Q1 25 | 30.3% | 81.4% | ||
| Q4 24 | 29.9% | 79.8% | ||
| Q3 24 | 29.6% | 82.1% | ||
| Q2 24 | 29.2% | 84.5% | ||
| Q1 24 | 29.3% | 85.3% |
| Q4 25 | 4.4% | 32.3% | ||
| Q3 25 | 4.6% | 30.4% | ||
| Q2 25 | 4.7% | 5.7% | ||
| Q1 25 | 5.2% | -31.2% | ||
| Q4 24 | 4.0% | -69.2% | ||
| Q3 24 | 3.7% | -36.4% | ||
| Q2 24 | 4.2% | -90.8% | ||
| Q1 24 | 3.7% | -6.1% |
| Q4 25 | 3.4% | 47.9% | ||
| Q3 25 | 3.5% | 42.3% | ||
| Q2 25 | 3.5% | 74.1% | ||
| Q1 25 | 3.9% | -5.1% | ||
| Q4 24 | 3.0% | -2.3% | ||
| Q3 24 | 2.8% | -126.1% | ||
| Q2 24 | 3.0% | -169.4% | ||
| Q1 24 | 2.6% | -18.7% |
| Q4 25 | $0.49 | $2.78 | ||
| Q3 25 | $0.51 | $2.91 | ||
| Q2 25 | $0.50 | $4.50 | ||
| Q1 25 | $0.56 | $-0.39 | ||
| Q4 24 | $0.43 | $-0.01 | ||
| Q3 24 | $0.38 | $-9.39 | ||
| Q2 24 | $0.40 | $-14.35 | ||
| Q1 24 | $0.35 | $-1.71 |
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 | $226.6M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $220.0M | $-171.5M |
| Total Assets | $668.6M | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $226.6M | ||
| Q3 25 | $17.1M | $184.2M | ||
| Q2 25 | $13.2M | $267.4M | ||
| Q1 25 | $21.2M | $138.3M | ||
| Q4 24 | $6.3M | $146.9M | ||
| Q3 24 | $8.9M | $159.2M | ||
| Q2 24 | $13.9M | $236.9M | ||
| Q1 24 | $11.0M | $190.7M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $220.0M | $-171.5M | ||
| Q3 25 | $212.4M | $-260.5M | ||
| Q2 25 | $202.5M | $-351.7M | ||
| Q1 25 | $193.0M | $-496.8M | ||
| Q4 24 | $181.9M | $-488.2M | ||
| Q3 24 | $174.3M | $-497.6M | ||
| Q2 24 | $167.8M | $-218.3M | ||
| Q1 24 | $160.0M | $228.4M |
| Q4 25 | $668.6M | $1.7B | ||
| Q3 25 | $670.5M | $1.7B | ||
| Q2 25 | $659.0M | $1.5B | ||
| Q1 25 | $664.6M | $1.5B | ||
| Q4 24 | $648.9M | $1.8B | ||
| Q3 24 | $655.5M | $2.2B | ||
| Q2 24 | $654.4M | $3.2B | ||
| Q1 24 | $656.6M | $5.0B |
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 | $26.2M |
| Free Cash FlowOCF − Capex | $11.6M | — |
| FCF MarginFCF / Revenue | 3.4% | — |
| Capex IntensityCapex / Revenue | 2.9% | — |
| Cash ConversionOCF / Net Profit | 1.86× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $26.2M | ||
| Q3 25 | $15.6M | $-60.6M | ||
| Q2 25 | $2.9M | $-25.6M | ||
| Q1 25 | $34.1M | $184.0K | ||
| Q4 24 | $2.7M | $-2.7M | ||
| Q3 24 | $24.5M | $19.5M | ||
| Q2 24 | $12.4M | $111.5M | ||
| Q1 24 | $20.2M | $135.4M |
| Q4 25 | $11.6M | — | ||
| Q3 25 | $7.5M | — | ||
| Q2 25 | $-4.2M | — | ||
| Q1 25 | $27.6M | — | ||
| Q4 24 | $-6.9M | — | ||
| Q3 24 | $18.0M | — | ||
| Q2 24 | $3.6M | — | ||
| Q1 24 | $9.8M | — |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | -1.3% | — | ||
| Q1 25 | 8.2% | — | ||
| Q4 24 | -2.1% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 1.2% | — | ||
| Q1 24 | 3.2% | — |
| Q4 25 | 2.9% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 3.4% | — |
| Q4 25 | 1.86× | 0.29× | ||
| Q3 25 | 1.32× | -0.66× | ||
| Q2 25 | 0.25× | -0.18× | ||
| 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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
