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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
TRUPANION, INC. is the larger business by last-quarter revenue ($376.9M vs $335.6M, roughly 1.1× Natural Grocers by Vitamin Cottage, Inc.). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs 1.6%). TRUPANION, INC. produced more free cash flow last quarter ($25.3M vs $11.6M). Over the past eight quarters, TRUPANION, INC.'s revenue compounded faster (11.0% 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.
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
NGVC vs TRUP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $376.9M |
| Net Profit | $11.3M | — |
| Gross Margin | 29.5% | 17.3% |
| Operating Margin | 4.4% | 1.9% |
| Net Margin | 3.4% | — |
| Revenue YoY | 1.6% | 11.7% |
| Net Profit YoY | 14.0% | — |
| EPS (diluted) | $0.49 | $0.13 |
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 | $376.9M | ||
| Q3 25 | $336.1M | $366.9M | ||
| Q2 25 | $328.7M | $353.6M | ||
| Q1 25 | $335.8M | $342.0M | ||
| Q4 24 | $330.2M | $337.3M | ||
| Q3 24 | $322.7M | $327.5M | ||
| Q2 24 | $309.1M | $314.8M | ||
| Q1 24 | $308.1M | $306.1M |
| Q4 25 | $11.3M | — | ||
| Q3 25 | $11.8M | — | ||
| Q2 25 | $11.6M | — | ||
| Q1 25 | $13.1M | — | ||
| Q4 24 | $9.9M | — | ||
| Q3 24 | $9.0M | — | ||
| Q2 24 | $9.2M | — | ||
| Q1 24 | $8.0M | — |
| Q4 25 | 29.5% | 17.3% | ||
| Q3 25 | 29.5% | 16.4% | ||
| Q2 25 | 29.9% | 15.5% | ||
| Q1 25 | 30.3% | 14.9% | ||
| Q4 24 | 29.9% | 15.7% | ||
| Q3 24 | 29.6% | 15.1% | ||
| Q2 24 | 29.2% | 12.8% | ||
| Q1 24 | 29.3% | 11.8% |
| Q4 25 | 4.4% | 1.9% | ||
| Q3 25 | 4.6% | 1.6% | ||
| Q2 25 | 4.7% | 0.7% | ||
| Q1 25 | 5.2% | -0.4% | ||
| Q4 24 | 4.0% | 0.1% | ||
| Q3 24 | 3.7% | 0.5% | ||
| Q2 24 | 4.2% | -1.7% | ||
| Q1 24 | 3.7% | -2.0% |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 3.5% | — | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | 3.9% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | 3.0% | — | ||
| Q1 24 | 2.6% | — |
| Q4 25 | $0.49 | $0.13 | ||
| Q3 25 | $0.51 | $0.13 | ||
| Q2 25 | $0.50 | $0.22 | ||
| Q1 25 | $0.56 | $-0.03 | ||
| Q4 24 | $0.43 | $0.04 | ||
| Q3 24 | $0.38 | $0.03 | ||
| Q2 24 | $0.40 | $-0.14 | ||
| Q1 24 | $0.35 | $-0.16 |
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 | $370.7M |
| Total DebtLower is stronger | — | $101.8M |
| Stockholders' EquityBook value | $220.0M | $383.9M |
| Total Assets | $668.6M | $915.0M |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $370.7M | ||
| Q3 25 | $17.1M | $348.5M | ||
| Q2 25 | $13.2M | $319.6M | ||
| Q1 25 | $21.2M | $321.8M | ||
| Q4 24 | $6.3M | $307.4M | ||
| Q3 24 | $8.9M | $293.1M | ||
| Q2 24 | $13.9M | $277.2M | ||
| Q1 24 | $11.0M | $275.2M |
| Q4 25 | — | $101.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $220.0M | $383.9M | ||
| Q3 25 | $212.4M | $368.6M | ||
| Q2 25 | $202.5M | $355.5M | ||
| Q1 25 | $193.0M | $333.7M | ||
| Q4 24 | $181.9M | $323.3M | ||
| Q3 24 | $174.3M | $320.2M | ||
| Q2 24 | $167.8M | $305.8M | ||
| Q1 24 | $160.0M | $303.4M |
| Q4 25 | $668.6M | $915.0M | ||
| Q3 25 | $670.5M | $880.2M | ||
| Q2 25 | $659.0M | $847.8M | ||
| Q1 25 | $664.6M | $837.2M | ||
| Q4 24 | $648.9M | $806.9M | ||
| Q3 24 | $655.5M | $816.1M | ||
| Q2 24 | $654.4M | $795.9M | ||
| Q1 24 | $656.6M | $789.5M |
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $29.3M |
| Free Cash FlowOCF − Capex | $11.6M | $25.3M |
| FCF MarginFCF / Revenue | 3.4% | 6.7% |
| Capex IntensityCapex / Revenue | 2.9% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $29.3M | ||
| Q3 25 | $15.6M | $29.2M | ||
| Q2 25 | $2.9M | $15.0M | ||
| Q1 25 | $34.1M | $16.0M | ||
| Q4 24 | $2.7M | $23.7M | ||
| Q3 24 | $24.5M | $15.3M | ||
| Q2 24 | $12.4M | $6.9M | ||
| Q1 24 | $20.2M | $2.4M |
| Q4 25 | $11.6M | $25.3M | ||
| Q3 25 | $7.5M | $23.9M | ||
| Q2 25 | $-4.2M | $12.0M | ||
| Q1 25 | $27.6M | $14.0M | ||
| Q4 24 | $-6.9M | $21.8M | ||
| Q3 24 | $18.0M | $13.4M | ||
| Q2 24 | $3.6M | $4.0M | ||
| Q1 24 | $9.8M | $-631.0K |
| Q4 25 | 3.4% | 6.7% | ||
| Q3 25 | 2.2% | 6.5% | ||
| Q2 25 | -1.3% | 3.4% | ||
| Q1 25 | 8.2% | 4.1% | ||
| Q4 24 | -2.1% | 6.5% | ||
| Q3 24 | 5.6% | 4.1% | ||
| Q2 24 | 1.2% | 1.3% | ||
| Q1 24 | 3.2% | -0.2% |
| Q4 25 | 2.9% | 1.0% | ||
| Q3 25 | 2.4% | 1.4% | ||
| Q2 25 | 2.2% | 0.8% | ||
| Q1 25 | 1.9% | 0.6% | ||
| Q4 24 | 2.9% | 0.6% | ||
| Q3 24 | 2.0% | 0.6% | ||
| Q2 24 | 2.9% | 0.9% | ||
| Q1 24 | 3.4% | 1.0% |
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | — | ||
| Q2 25 | 0.25× | — | ||
| 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% |
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
