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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and ONE Group Hospitality, Inc. (STKS). 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 $207.0M, roughly 1.6× ONE Group Hospitality, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -3.1%, a 6.5% 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 -6.7%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
NGVC vs STKS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $207.0M |
| Net Profit | $11.3M | $-6.4M |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | 2.2% |
| Net Margin | 3.4% | -3.1% |
| Revenue YoY | 1.6% | -6.7% |
| Net Profit YoY | 14.0% | -531.8% |
| EPS (diluted) | $0.49 | $-0.50 |
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 | $207.0M | ||
| Q3 25 | $336.1M | $180.2M | ||
| Q2 25 | $328.7M | $207.4M | ||
| Q1 25 | $335.8M | $211.1M | ||
| Q4 24 | $330.2M | $221.9M | ||
| Q3 24 | $322.7M | $194.0M | ||
| Q2 24 | $309.1M | $172.5M | ||
| Q1 24 | $308.1M | $85.0M |
| Q4 25 | $11.3M | $-6.4M | ||
| Q3 25 | $11.8M | $-76.7M | ||
| Q2 25 | $11.6M | $-10.1M | ||
| Q1 25 | $13.1M | $975.0K | ||
| Q4 24 | $9.9M | $1.5M | ||
| Q3 24 | $9.0M | $-9.3M | ||
| Q2 24 | $9.2M | $-7.3M | ||
| Q1 24 | $8.0M | $-2.1M |
| 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% | 2.2% | ||
| Q3 25 | 4.6% | -4.4% | ||
| Q2 25 | 4.7% | 0.3% | ||
| Q1 25 | 5.2% | 5.1% | ||
| Q4 24 | 4.0% | 5.5% | ||
| Q3 24 | 3.7% | -1.9% | ||
| Q2 24 | 4.2% | 0.6% | ||
| Q1 24 | 3.7% | -0.7% |
| Q4 25 | 3.4% | -3.1% | ||
| Q3 25 | 3.5% | -42.6% | ||
| Q2 25 | 3.5% | -4.9% | ||
| Q1 25 | 3.9% | 0.5% | ||
| Q4 24 | 3.0% | 0.7% | ||
| Q3 24 | 2.8% | -4.8% | ||
| Q2 24 | 3.0% | -4.3% | ||
| Q1 24 | 2.6% | -2.4% |
| Q4 25 | $0.49 | $-0.50 | ||
| Q3 25 | $0.51 | $-2.75 | ||
| Q2 25 | $0.50 | $-0.59 | ||
| Q1 25 | $0.56 | $-0.21 | ||
| Q4 24 | $0.43 | $-0.18 | ||
| Q3 24 | $0.38 | $-0.53 | ||
| Q2 24 | $0.40 | $-0.38 | ||
| Q1 24 | $0.35 | $-0.07 |
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 | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $220.0M | $-75.8M |
| Total Assets | $668.6M | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $4.2M | ||
| Q3 25 | $17.1M | $5.5M | ||
| Q2 25 | $13.2M | $4.7M | ||
| Q1 25 | $21.2M | $21.4M | ||
| Q4 24 | $6.3M | $27.6M | ||
| Q3 24 | $8.9M | $28.2M | ||
| Q2 24 | $13.9M | $32.2M | ||
| Q1 24 | $11.0M | $15.4M |
| Q4 25 | — | $354.2M | ||
| Q3 25 | — | $355.0M | ||
| Q2 25 | — | $347.4M | ||
| Q1 25 | — | $348.3M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M | ||
| Q1 24 | — | $73.5M |
| Q4 25 | $220.0M | $-75.8M | ||
| Q3 25 | $212.4M | $-61.5M | ||
| Q2 25 | $202.5M | $23.0M | ||
| Q1 25 | $193.0M | $40.5M | ||
| Q4 24 | $181.9M | $45.9M | ||
| Q3 24 | $174.3M | $51.4M | ||
| Q2 24 | $167.8M | $68.1M | ||
| Q1 24 | $160.0M | $68.3M |
| Q4 25 | $668.6M | $884.2M | ||
| Q3 25 | $670.5M | $879.5M | ||
| Q2 25 | $659.0M | $935.7M | ||
| Q1 25 | $664.6M | $956.0M | ||
| Q4 24 | $648.9M | $960.1M | ||
| Q3 24 | $655.5M | $953.5M | ||
| Q2 24 | $654.4M | $945.9M | ||
| Q1 24 | $656.6M | $309.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.07× | ||
| Q1 25 | — | 8.61× | ||
| Q4 24 | — | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× | ||
| Q1 24 | — | 1.08× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | $11.6M | $-329.0K |
| FCF MarginFCF / Revenue | 3.4% | -0.2% |
| Capex IntensityCapex / Revenue | 2.9% | 6.5% |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $13.1M | ||
| Q3 25 | $15.6M | $5.9M | ||
| Q2 25 | $2.9M | $2.8M | ||
| Q1 25 | $34.1M | $8.5M | ||
| Q4 24 | $2.7M | $18.5M | ||
| Q3 24 | $24.5M | $19.1M | ||
| Q2 24 | $12.4M | $-3.8M | ||
| Q1 24 | $20.2M | $10.4M |
| Q4 25 | $11.6M | $-329.0K | ||
| Q3 25 | $7.5M | $-6.1M | ||
| Q2 25 | $-4.2M | $-15.0M | ||
| Q1 25 | $27.6M | $-5.8M | ||
| Q4 24 | $-6.9M | $733.0K | ||
| Q3 24 | $18.0M | $287.0K | ||
| Q2 24 | $3.6M | $-23.0M | ||
| Q1 24 | $9.8M | $-5.4M |
| Q4 25 | 3.4% | -0.2% | ||
| Q3 25 | 2.2% | -3.4% | ||
| Q2 25 | -1.3% | -7.2% | ||
| Q1 25 | 8.2% | -2.7% | ||
| Q4 24 | -2.1% | 0.3% | ||
| Q3 24 | 5.6% | 0.1% | ||
| Q2 24 | 1.2% | -13.3% | ||
| Q1 24 | 3.2% | -6.4% |
| Q4 25 | 2.9% | 6.5% | ||
| Q3 25 | 2.4% | 6.7% | ||
| Q2 25 | 2.2% | 8.6% | ||
| Q1 25 | 1.9% | 6.8% | ||
| Q4 24 | 2.9% | 8.0% | ||
| Q3 24 | 2.0% | 9.7% | ||
| Q2 24 | 2.9% | 11.1% | ||
| Q1 24 | 3.4% | 18.6% |
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 2.60× | 8.76× | ||
| Q4 24 | 0.27× | 12.54× | ||
| 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% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
