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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and CVR PARTNERS, LP (UAN). 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 $180.0M, roughly 1.9× CVR PARTNERS, LP). CVR PARTNERS, LP runs the higher net margin — 27.7% vs 3.4%, a 24.3% gap on every dollar of revenue. On growth, CVR PARTNERS, LP posted the faster year-over-year revenue change (26.0% vs 1.6%). Over the past eight quarters, CVR PARTNERS, LP's revenue compounded faster (16.4% 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.
CVR Partners, LP is a leading North American producer of nitrogen-based fertilizer products, primarily urea ammonium nitrate (UAN) and ammonia. It serves agricultural, industrial and commercial markets across the U.S. and Canada, delivering cost-effective, high-quality nutrient solutions for crop production and diverse industrial use cases.
NGVC vs UAN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $180.0M |
| Net Profit | $11.3M | $49.9M |
| Gross Margin | 29.5% | 37.5% |
| Operating Margin | 4.4% | 32.0% |
| Net Margin | 3.4% | 27.7% |
| Revenue YoY | 1.6% | 26.0% |
| Net Profit YoY | 14.0% | 84.3% |
| EPS (diluted) | $0.49 | — |
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.
| Q1 26 | — | $180.0M | ||
| Q4 25 | $335.6M | $131.1M | ||
| Q3 25 | $336.1M | $163.5M | ||
| Q2 25 | $328.7M | $168.6M | ||
| Q1 25 | $335.8M | $142.9M | ||
| Q4 24 | $330.2M | $139.6M | ||
| Q3 24 | $322.7M | $125.2M | ||
| Q2 24 | $309.1M | $132.9M |
| Q1 26 | — | $49.9M | ||
| Q4 25 | $11.3M | $-10.3M | ||
| Q3 25 | $11.8M | $43.1M | ||
| Q2 25 | $11.6M | $38.8M | ||
| Q1 25 | $13.1M | $27.1M | ||
| Q4 24 | $9.9M | $18.3M | ||
| Q3 24 | $9.0M | $3.8M | ||
| Q2 24 | $9.2M | $26.2M |
| Q1 26 | — | 37.5% | ||
| Q4 25 | 29.5% | 4.4% | ||
| Q3 25 | 29.5% | 37.0% | ||
| Q2 25 | 29.9% | 32.4% | ||
| Q1 25 | 30.3% | 29.7% | ||
| Q4 24 | 29.9% | 23.8% | ||
| Q3 24 | 29.6% | 14.7% | ||
| Q2 24 | 29.2% | 30.0% |
| Q1 26 | — | 32.0% | ||
| Q4 25 | 4.4% | -2.2% | ||
| Q3 25 | 4.6% | 31.0% | ||
| Q2 25 | 4.7% | 27.5% | ||
| Q1 25 | 5.2% | 24.2% | ||
| Q4 24 | 4.0% | 18.4% | ||
| Q3 24 | 3.7% | 8.8% | ||
| Q2 24 | 4.2% | 25.3% |
| Q1 26 | — | 27.7% | ||
| Q4 25 | 3.4% | -7.8% | ||
| Q3 25 | 3.5% | 26.3% | ||
| Q2 25 | 3.5% | 23.0% | ||
| Q1 25 | 3.9% | 19.0% | ||
| Q4 24 | 3.0% | 13.1% | ||
| Q3 24 | 2.8% | 3.0% | ||
| Q2 24 | 3.0% | 19.7% |
| Q1 26 | — | — | ||
| Q4 25 | $0.49 | $-0.98 | ||
| Q3 25 | $0.51 | $4.08 | ||
| Q2 25 | $0.50 | $3.67 | ||
| Q1 25 | $0.56 | $2.56 | ||
| Q4 24 | $0.43 | $1.73 | ||
| Q3 24 | $0.38 | $0.36 | ||
| Q2 24 | $0.40 | $2.48 |
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 | $128.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $220.0M | — |
| Total Assets | $668.6M | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.1M | ||
| Q4 25 | $23.2M | $69.2M | ||
| Q3 25 | $17.1M | $156.2M | ||
| Q2 25 | $13.2M | $114.4M | ||
| Q1 25 | $21.2M | $121.8M | ||
| Q4 24 | $6.3M | $90.9M | ||
| Q3 24 | $8.9M | $110.5M | ||
| Q2 24 | $13.9M | $47.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $569.1M | ||
| Q3 25 | — | $569.1M | ||
| Q2 25 | — | $569.2M | ||
| Q1 25 | — | $569.3M | ||
| Q4 24 | — | $568.0M | ||
| Q3 24 | — | $547.7M | ||
| Q2 24 | — | $547.6M |
| Q1 26 | — | — | ||
| Q4 25 | $220.0M | — | ||
| Q3 25 | $212.4M | — | ||
| Q2 25 | $202.5M | — | ||
| Q1 25 | $193.0M | — | ||
| Q4 24 | $181.9M | — | ||
| Q3 24 | $174.3M | — | ||
| Q2 24 | $167.8M | — |
| Q1 26 | — | $1.0B | ||
| Q4 25 | $668.6M | $969.5M | ||
| Q3 25 | $670.5M | $1.0B | ||
| Q2 25 | $659.0M | $998.0M | ||
| Q1 25 | $664.6M | $1.0B | ||
| Q4 24 | $648.9M | $1.0B | ||
| Q3 24 | $655.5M | $986.6M | ||
| Q2 24 | $654.4M | $959.4M |
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 | — |
| Free Cash FlowOCF − Capex | $11.6M | — |
| FCF MarginFCF / Revenue | 3.4% | — |
| Capex IntensityCapex / Revenue | 2.9% | 7.6% |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $21.1M | $-21.6M | ||
| Q3 25 | $15.6M | $91.7M | ||
| Q2 25 | $2.9M | $24.1M | ||
| Q1 25 | $34.1M | $55.4M | ||
| Q4 24 | $2.7M | $12.8M | ||
| Q3 24 | $24.5M | $86.7M | ||
| Q2 24 | $12.4M | $8.6M |
| Q1 26 | — | — | ||
| Q4 25 | $11.6M | $-45.2M | ||
| Q3 25 | $7.5M | $80.1M | ||
| Q2 25 | $-4.2M | $18.4M | ||
| Q1 25 | $27.6M | $45.5M | ||
| Q4 24 | $-6.9M | $-5.6M | ||
| Q3 24 | $18.0M | $82.3M | ||
| Q2 24 | $3.6M | $2.4M |
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | -34.5% | ||
| Q3 25 | 2.2% | 49.0% | ||
| Q2 25 | -1.3% | 10.9% | ||
| Q1 25 | 8.2% | 31.9% | ||
| Q4 24 | -2.1% | -4.0% | ||
| Q3 24 | 5.6% | 65.7% | ||
| Q2 24 | 1.2% | 1.8% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 2.9% | 18.0% | ||
| Q3 25 | 2.4% | 7.1% | ||
| Q2 25 | 2.2% | 3.4% | ||
| Q1 25 | 1.9% | 6.9% | ||
| Q4 24 | 2.9% | 13.1% | ||
| Q3 24 | 2.0% | 3.6% | ||
| Q2 24 | 2.9% | 4.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | 2.13× | ||
| Q2 25 | 0.25× | 0.62× | ||
| Q1 25 | 2.60× | 2.04× | ||
| Q4 24 | 0.27× | 0.70× | ||
| Q3 24 | 2.72× | 22.78× | ||
| Q2 24 | 1.35× | 0.33× |
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% |
UAN
| Fertilizer sales | $166.1M | 92% |
| Other | $14.0M | 8% |
