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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Smith Douglas Homes Corp. (SDHC). 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 $260.4M, roughly 1.3× Smith Douglas Homes Corp.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs 1.4%, a 2.0% 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 -9.4%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $8.7M). Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% 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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
NGVC vs SDHC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $260.4M |
| Net Profit | $11.3M | $3.5M |
| Gross Margin | 29.5% | 19.9% |
| Operating Margin | 4.4% | 6.5% |
| Net Margin | 3.4% | 1.4% |
| Revenue YoY | 1.6% | -9.4% |
| Net Profit YoY | 14.0% | -14.3% |
| EPS (diluted) | $0.49 | $0.39 |
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 | $260.4M | ||
| Q3 25 | $336.1M | $262.0M | ||
| Q2 25 | $328.7M | $223.9M | ||
| Q1 25 | $335.8M | $224.7M | ||
| Q4 24 | $330.2M | $287.5M | ||
| Q3 24 | $322.7M | $277.8M | ||
| Q2 24 | $309.1M | $220.9M | ||
| Q1 24 | $308.1M | $189.2M |
| Q4 25 | $11.3M | $3.5M | ||
| Q3 25 | $11.8M | $2.1M | ||
| Q2 25 | $11.6M | $2.4M | ||
| Q1 25 | $13.1M | $2.7M | ||
| Q4 24 | $9.9M | $4.1M | ||
| Q3 24 | $9.0M | $5.3M | ||
| Q2 24 | $9.2M | $3.6M | ||
| Q1 24 | $8.0M | $3.0M |
| Q4 25 | 29.5% | 19.9% | ||
| Q3 25 | 29.5% | 21.0% | ||
| Q2 25 | 29.9% | 23.2% | ||
| Q1 25 | 30.3% | 23.8% | ||
| Q4 24 | 29.9% | 25.5% | ||
| Q3 24 | 29.6% | 26.5% | ||
| Q2 24 | 29.2% | 26.7% | ||
| Q1 24 | 29.3% | 26.1% |
| Q4 25 | 4.4% | 6.5% | ||
| Q3 25 | 4.6% | 6.6% | ||
| Q2 25 | 4.7% | 7.7% | ||
| Q1 25 | 5.2% | 8.7% | ||
| Q4 24 | 4.0% | 10.4% | ||
| Q3 24 | 3.7% | 14.2% | ||
| Q2 24 | 4.2% | 11.7% | ||
| Q1 24 | 3.7% | 11.3% |
| Q4 25 | 3.4% | 1.4% | ||
| Q3 25 | 3.5% | 0.8% | ||
| Q2 25 | 3.5% | 1.1% | ||
| Q1 25 | 3.9% | 1.2% | ||
| Q4 24 | 3.0% | 1.4% | ||
| Q3 24 | 2.8% | 1.9% | ||
| Q2 24 | 3.0% | 1.7% | ||
| Q1 24 | 2.6% | 1.6% |
| Q4 25 | $0.49 | $0.39 | ||
| Q3 25 | $0.51 | $0.24 | ||
| Q2 25 | $0.50 | $0.26 | ||
| Q1 25 | $0.56 | $0.30 | ||
| Q4 24 | $0.43 | $0.50 | ||
| Q3 24 | $0.38 | $0.58 | ||
| Q2 24 | $0.40 | $0.40 | ||
| Q1 24 | $0.35 | $0.33 |
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 | $12.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $220.0M | $86.7M |
| Total Assets | $668.6M | $557.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $12.7M | ||
| Q3 25 | $17.1M | $14.8M | ||
| Q2 25 | $13.2M | $16.8M | ||
| Q1 25 | $21.2M | $12.7M | ||
| Q4 24 | $6.3M | $22.4M | ||
| Q3 24 | $8.9M | $23.7M | ||
| Q2 24 | $13.9M | $17.3M | ||
| Q1 24 | $11.0M | $32.8M |
| Q4 25 | $220.0M | $86.7M | ||
| Q3 25 | $212.4M | $82.2M | ||
| Q2 25 | $202.5M | $80.0M | ||
| Q1 25 | $193.0M | $76.9M | ||
| Q4 24 | $181.9M | $73.6M | ||
| Q3 24 | $174.3M | $68.4M | ||
| Q2 24 | $167.8M | $62.1M | ||
| Q1 24 | $160.0M | $59.7M |
| Q4 25 | $668.6M | $557.6M | ||
| Q3 25 | $670.5M | $571.6M | ||
| Q2 25 | $659.0M | $570.2M | ||
| Q1 25 | $664.6M | $513.9M | ||
| Q4 24 | $648.9M | $475.9M | ||
| Q3 24 | $655.5M | $460.1M | ||
| Q2 24 | $654.4M | $429.3M | ||
| Q1 24 | $656.6M | $401.3M |
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 | $9.8M |
| Free Cash FlowOCF − Capex | $11.6M | $8.7M |
| FCF MarginFCF / Revenue | 3.4% | 3.4% |
| Capex IntensityCapex / Revenue | 2.9% | 0.4% |
| Cash ConversionOCF / Net Profit | 1.86× | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $9.8M | ||
| Q3 25 | $15.6M | $22.8M | ||
| Q2 25 | $2.9M | $-28.9M | ||
| Q1 25 | $34.1M | $-34.9M | ||
| Q4 24 | $2.7M | $5.5M | ||
| Q3 24 | $24.5M | $22.9M | ||
| Q2 24 | $12.4M | $39.0K | ||
| Q1 24 | $20.2M | $-9.3M |
| Q4 25 | $11.6M | $8.7M | ||
| Q3 25 | $7.5M | $21.4M | ||
| Q2 25 | $-4.2M | $-31.1M | ||
| Q1 25 | $27.6M | $-35.9M | ||
| Q4 24 | $-6.9M | $4.8M | ||
| Q3 24 | $18.0M | $22.3M | ||
| Q2 24 | $3.6M | $-2.1M | ||
| Q1 24 | $9.8M | $-9.7M |
| Q4 25 | 3.4% | 3.4% | ||
| Q3 25 | 2.2% | 8.2% | ||
| Q2 25 | -1.3% | -13.9% | ||
| Q1 25 | 8.2% | -16.0% | ||
| Q4 24 | -2.1% | 1.7% | ||
| Q3 24 | 5.6% | 8.0% | ||
| Q2 24 | 1.2% | -1.0% | ||
| Q1 24 | 3.2% | -5.1% |
| Q4 25 | 2.9% | 0.4% | ||
| Q3 25 | 2.4% | 0.5% | ||
| Q2 25 | 2.2% | 0.9% | ||
| Q1 25 | 1.9% | 0.5% | ||
| Q4 24 | 2.9% | 0.2% | ||
| Q3 24 | 2.0% | 0.2% | ||
| Q2 24 | 2.9% | 1.0% | ||
| Q1 24 | 3.4% | 0.2% |
| Q4 25 | 1.86× | 2.77× | ||
| Q3 25 | 1.32× | 10.70× | ||
| Q2 25 | 0.25× | -12.24× | ||
| Q1 25 | 2.60× | -13.01× | ||
| Q4 24 | 0.27× | 1.33× | ||
| Q3 24 | 2.72× | 4.28× | ||
| Q2 24 | 1.35× | 0.01× | ||
| Q1 24 | 2.54× | -3.12× |
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% |
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
