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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Tecnoglass Inc. (TGLS). 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 $245.3M, roughly 1.4× Tecnoglass Inc.). Tecnoglass Inc. runs the higher net margin — 10.6% vs 3.4%, a 7.3% gap on every dollar of revenue. On growth, Tecnoglass Inc. posted the faster year-over-year revenue change (2.4% vs 1.6%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $11.4M). Over the past eight quarters, Tecnoglass Inc.'s revenue compounded faster (12.8% 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.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
NGVC vs TGLS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $245.3M |
| Net Profit | $11.3M | $26.1M |
| Gross Margin | 29.5% | 40.0% |
| Operating Margin | 4.4% | 18.3% |
| Net Margin | 3.4% | 10.6% |
| Revenue YoY | 1.6% | 2.4% |
| Net Profit YoY | 14.0% | -44.5% |
| EPS (diluted) | $0.49 | $0.57 |
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 | $245.3M | ||
| Q3 25 | $336.1M | $260.5M | ||
| Q2 25 | $328.7M | $255.5M | ||
| Q1 25 | $335.8M | $222.3M | ||
| Q4 24 | $330.2M | $239.6M | ||
| Q3 24 | $322.7M | $238.3M | ||
| Q2 24 | $309.1M | $219.7M | ||
| Q1 24 | $308.1M | $192.6M |
| Q4 25 | $11.3M | $26.1M | ||
| Q3 25 | $11.8M | $47.2M | ||
| Q2 25 | $11.6M | $44.1M | ||
| Q1 25 | $13.1M | $42.2M | ||
| Q4 24 | $9.9M | $47.0M | ||
| Q3 24 | $9.0M | $49.5M | ||
| Q2 24 | $9.2M | $35.0M | ||
| Q1 24 | $8.0M | $29.7M |
| Q4 25 | 29.5% | 40.0% | ||
| Q3 25 | 29.5% | 42.7% | ||
| Q2 25 | 29.9% | 44.7% | ||
| Q1 25 | 30.3% | 43.9% | ||
| Q4 24 | 29.9% | 44.5% | ||
| Q3 24 | 29.6% | 45.8% | ||
| Q2 24 | 29.2% | 40.8% | ||
| Q1 24 | 29.3% | 38.8% |
| Q4 25 | 4.4% | 18.3% | ||
| Q3 25 | 4.6% | 25.1% | ||
| Q2 25 | 4.7% | 24.0% | ||
| Q1 25 | 5.2% | 26.7% | ||
| Q4 24 | 4.0% | 28.0% | ||
| Q3 24 | 3.7% | 28.4% | ||
| Q2 24 | 4.2% | 23.3% | ||
| Q1 24 | 3.7% | 21.3% |
| Q4 25 | 3.4% | 10.6% | ||
| Q3 25 | 3.5% | 18.1% | ||
| Q2 25 | 3.5% | 17.3% | ||
| Q1 25 | 3.9% | 19.0% | ||
| Q4 24 | 3.0% | 19.6% | ||
| Q3 24 | 2.8% | 20.8% | ||
| Q2 24 | 3.0% | 15.9% | ||
| Q1 24 | 2.6% | 15.4% |
| Q4 25 | $0.49 | $0.57 | ||
| Q3 25 | $0.51 | $1.01 | ||
| Q2 25 | $0.50 | $0.94 | ||
| Q1 25 | $0.56 | $0.90 | ||
| Q4 24 | $0.43 | $1.00 | ||
| Q3 24 | $0.38 | $1.05 | ||
| Q2 24 | $0.40 | $0.75 | ||
| Q1 24 | $0.35 | $0.63 |
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 | $104.1M |
| Total DebtLower is stronger | — | $174.4M |
| Stockholders' EquityBook value | $220.0M | $713.1M |
| Total Assets | $668.6M | $1.3B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $104.1M | ||
| Q3 25 | $17.1M | $127.1M | ||
| Q2 25 | $13.2M | $140.9M | ||
| Q1 25 | $21.2M | $160.2M | ||
| Q4 24 | $6.3M | $137.5M | ||
| Q3 24 | $8.9M | $124.8M | ||
| Q2 24 | $13.9M | $129.5M | ||
| Q1 24 | $11.0M | $138.8M |
| Q4 25 | — | $174.4M | ||
| Q3 25 | — | $114.7M | ||
| Q2 25 | — | $110.6M | ||
| Q1 25 | — | $110.6M | ||
| Q4 24 | — | $111.1M | ||
| Q3 24 | — | $126.8M | ||
| Q2 24 | — | $144.7M | ||
| Q1 24 | — | $160.9M |
| Q4 25 | $220.0M | $713.1M | ||
| Q3 25 | $212.4M | $764.0M | ||
| Q2 25 | $202.5M | $736.0M | ||
| Q1 25 | $193.0M | $685.1M | ||
| Q4 24 | $181.9M | $631.2M | ||
| Q3 24 | $174.3M | $613.3M | ||
| Q2 24 | $167.8M | $574.8M | ||
| Q1 24 | $160.0M | $573.6M |
| Q4 25 | $668.6M | $1.3B | ||
| 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 | $996.3M | ||
| Q2 24 | $654.4M | $942.5M | ||
| Q1 24 | $656.6M | $981.6M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | $11.6M | $11.4M |
| FCF MarginFCF / Revenue | 3.4% | 4.7% |
| Capex IntensityCapex / Revenue | 2.9% | 8.0% |
| Cash ConversionOCF / Net Profit | 1.86× | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $31.0M | ||
| Q3 25 | $15.6M | $40.0M | ||
| Q2 25 | $2.9M | $17.9M | ||
| Q1 25 | $34.1M | $46.9M | ||
| Q4 24 | $2.7M | $61.1M | ||
| Q3 24 | $24.5M | $41.5M | ||
| Q2 24 | $12.4M | $34.5M | ||
| Q1 24 | $20.2M | $33.4M |
| Q4 25 | $11.6M | $11.4M | ||
| Q3 25 | $7.5M | $21.2M | ||
| Q2 25 | $-4.2M | $-14.7M | ||
| Q1 25 | $27.6M | $16.5M | ||
| Q4 24 | $-6.9M | $35.4M | ||
| Q3 24 | $18.0M | $17.8M | ||
| Q2 24 | $3.6M | $14.2M | ||
| Q1 24 | $9.8M | $23.6M |
| Q4 25 | 3.4% | 4.7% | ||
| Q3 25 | 2.2% | 8.2% | ||
| Q2 25 | -1.3% | -5.7% | ||
| Q1 25 | 8.2% | 7.4% | ||
| Q4 24 | -2.1% | 14.8% | ||
| Q3 24 | 5.6% | 7.5% | ||
| Q2 24 | 1.2% | 6.5% | ||
| Q1 24 | 3.2% | 12.2% |
| Q4 25 | 2.9% | 8.0% | ||
| Q3 25 | 2.4% | 7.2% | ||
| Q2 25 | 2.2% | 12.7% | ||
| Q1 25 | 1.9% | 13.7% | ||
| Q4 24 | 2.9% | 10.7% | ||
| Q3 24 | 2.0% | 9.9% | ||
| Q2 24 | 2.9% | 9.2% | ||
| Q1 24 | 3.4% | 5.1% |
| Q4 25 | 1.86× | 1.19× | ||
| Q3 25 | 1.32× | 0.85× | ||
| Q2 25 | 0.25× | 0.41× | ||
| Q1 25 | 2.60× | 1.11× | ||
| Q4 24 | 0.27× | 1.30× | ||
| Q3 24 | 2.72× | 0.84× | ||
| Q2 24 | 1.35× | 0.98× | ||
| Q1 24 | 2.54× | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
