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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Soho House & Co Inc. (SHCO). Click either name above to swap in a different company.
Soho House & Co Inc. is the larger business by last-quarter revenue ($370.8M vs $335.6M, roughly 1.1× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -5.0%, a 8.4% gap on every dollar of revenue. On growth, Soho House & Co Inc. posted the faster year-over-year revenue change (11.2% vs 1.6%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $3.5M). Over the past eight quarters, Soho House & Co Inc.'s revenue compounded faster (13.5% 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.
Soho House is an international private members’ club with a focus on the media, arts and fashion industries.
NGVC vs SHCO — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $370.8M |
| Net Profit | $11.3M | $-18.7M |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | -1.6% |
| Net Margin | 3.4% | -5.0% |
| Revenue YoY | 1.6% | 11.2% |
| Net Profit YoY | 14.0% | -10790.3% |
| EPS (diluted) | $0.49 | $-0.10 |
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 | — | ||
| Q3 25 | $336.1M | $370.8M | ||
| Q2 25 | $328.7M | $329.8M | ||
| Q1 25 | $335.8M | $282.9M | ||
| Q4 24 | $330.2M | $305.6M | ||
| Q3 24 | $322.7M | $333.4M | ||
| Q2 24 | $309.1M | $302.9M | ||
| Q1 24 | $308.1M | $261.9M |
| Q4 25 | $11.3M | — | ||
| Q3 25 | $11.8M | $-18.7M | ||
| Q2 25 | $11.6M | $24.9M | ||
| Q1 25 | $13.1M | $8.2M | ||
| Q4 24 | $9.9M | $-91.7M | ||
| Q3 24 | $9.0M | $175.0K | ||
| Q2 24 | $9.2M | $-29.9M | ||
| Q1 24 | $8.0M | $-41.6M |
| 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% | — | ||
| Q3 25 | 4.6% | -1.6% | ||
| Q2 25 | 4.7% | 18.1% | ||
| Q1 25 | 5.2% | 12.3% | ||
| Q4 24 | 4.0% | -23.1% | ||
| Q3 24 | 3.7% | 11.4% | ||
| Q2 24 | 4.2% | -4.3% | ||
| Q1 24 | 3.7% | -9.3% |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 3.5% | -5.0% | ||
| Q2 25 | 3.5% | 7.5% | ||
| Q1 25 | 3.9% | 2.9% | ||
| Q4 24 | 3.0% | -30.0% | ||
| Q3 24 | 2.8% | 0.1% | ||
| Q2 24 | 3.0% | -9.9% | ||
| Q1 24 | 2.6% | -15.9% |
| Q4 25 | $0.49 | — | ||
| Q3 25 | $0.51 | $-0.10 | ||
| Q2 25 | $0.50 | $0.13 | ||
| Q1 25 | $0.56 | $0.04 | ||
| Q4 24 | $0.43 | $-0.48 | ||
| Q3 24 | $0.38 | $0.00 | ||
| Q2 24 | $0.40 | $-0.15 | ||
| Q1 24 | $0.35 | $-0.21 |
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 | $142.5M |
| Total DebtLower is stronger | — | $735.8M |
| Stockholders' EquityBook value | $220.0M | $-351.6M |
| Total Assets | $668.6M | $2.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | — | ||
| Q3 25 | $17.1M | $142.5M | ||
| Q2 25 | $13.2M | $150.3M | ||
| Q1 25 | $21.2M | $150.1M | ||
| Q4 24 | $6.3M | $152.7M | ||
| Q3 24 | $8.9M | $142.8M | ||
| Q2 24 | $13.9M | $148.5M | ||
| Q1 24 | $11.0M | $139.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | $735.8M | ||
| Q2 25 | — | $729.8M | ||
| Q1 25 | — | $705.1M | ||
| Q4 24 | — | $691.5M | ||
| Q3 24 | — | $694.8M | ||
| Q2 24 | — | $682.1M | ||
| Q1 24 | — | $671.7M |
| Q4 25 | $220.0M | — | ||
| Q3 25 | $212.4M | $-351.6M | ||
| Q2 25 | $202.5M | $-348.6M | ||
| Q1 25 | $193.0M | $-340.1M | ||
| Q4 24 | $181.9M | $-335.1M | ||
| Q3 24 | $174.3M | $-279.4M | ||
| Q2 24 | $167.8M | $-231.7M | ||
| Q1 24 | $160.0M | $-193.0M |
| Q4 25 | $668.6M | — | ||
| Q3 25 | $670.5M | $2.7B | ||
| Q2 25 | $659.0M | $2.6B | ||
| Q1 25 | $664.6M | $2.5B | ||
| Q4 24 | $648.9M | $2.4B | ||
| Q3 24 | $655.5M | $2.6B | ||
| Q2 24 | $654.4M | $2.6B | ||
| Q1 24 | $656.6M | $2.5B |
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 | $34.9M |
| Free Cash FlowOCF − Capex | $11.6M | $3.5M |
| FCF MarginFCF / Revenue | 3.4% | 0.9% |
| Capex IntensityCapex / Revenue | 2.9% | 8.5% |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | — | ||
| Q3 25 | $15.6M | $34.9M | ||
| Q2 25 | $2.9M | $41.0M | ||
| Q1 25 | $34.1M | $22.8M | ||
| Q4 24 | $2.7M | $26.9M | ||
| Q3 24 | $24.5M | $20.6M | ||
| Q2 24 | $12.4M | $36.0M | ||
| Q1 24 | $20.2M | $6.2M |
| Q4 25 | $11.6M | — | ||
| Q3 25 | $7.5M | $3.5M | ||
| Q2 25 | $-4.2M | $12.4M | ||
| Q1 25 | $27.6M | $7.5M | ||
| Q4 24 | $-6.9M | $18.5M | ||
| Q3 24 | $18.0M | $10.3M | ||
| Q2 24 | $3.6M | $10.2M | ||
| Q1 24 | $9.8M | $-13.5M |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 2.2% | 0.9% | ||
| Q2 25 | -1.3% | 3.8% | ||
| Q1 25 | 8.2% | 2.7% | ||
| Q4 24 | -2.1% | 6.1% | ||
| Q3 24 | 5.6% | 3.1% | ||
| Q2 24 | 1.2% | 3.4% | ||
| Q1 24 | 3.2% | -5.2% |
| Q4 25 | 2.9% | — | ||
| Q3 25 | 2.4% | 8.5% | ||
| Q2 25 | 2.2% | 8.7% | ||
| Q1 25 | 1.9% | 5.4% | ||
| Q4 24 | 2.9% | 2.7% | ||
| Q3 24 | 2.0% | 3.1% | ||
| Q2 24 | 2.9% | 8.5% | ||
| Q1 24 | 3.4% | 7.5% |
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | — | ||
| Q2 25 | 0.25× | 1.65× | ||
| Q1 25 | 2.60× | 2.79× | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | 2.72× | 117.70× | ||
| 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% |
SHCO
| Membership | $122.7M | 33% |
| Other | $122.0M | 33% |
| Membership Revenue | $58.5M | 16% |
| Other Revenue | $28.5M | 8% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $24.8M | 7% |
| Elimination Of Equity Accounted Revenue | $13.4M | 4% |
| Related Party | $2.0M | 1% |
| Soho House | $1.0M | 0% |
