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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and UNITED BANKSHARES INC (UBSI). 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 $318.4M, roughly 1.1× UNITED BANKSHARES INC). UNITED BANKSHARES INC runs the higher net margin — 40.5% vs 3.4%, a 37.1% gap on every dollar of revenue. On growth, UNITED BANKSHARES INC posted the faster year-over-year revenue change (21.6% vs 1.6%). UNITED BANKSHARES INC produced more free cash flow last quarter ($481.2M vs $11.6M). Over the past eight quarters, UNITED BANKSHARES INC's revenue compounded faster (11.8% 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.
United Bankshares Inc. (WV) is a regional financial holding company operating mainly across the Mid-Atlantic and Southeastern United States. It provides full-spectrum banking solutions including consumer and commercial lending, deposit products, wealth management, and mortgage services for individual, small business and corporate clients.
NGVC vs UBSI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $318.4M |
| Net Profit | $11.3M | $128.8M |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | 50.2% |
| Net Margin | 3.4% | 40.5% |
| Revenue YoY | 1.6% | 21.6% |
| Net Profit YoY | 14.0% | 36.5% |
| EPS (diluted) | $0.49 | $0.91 |
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 | $318.4M | ||
| Q3 25 | $336.1M | $323.3M | ||
| Q2 25 | $328.7M | $306.0M | ||
| Q1 25 | $335.8M | $289.6M | ||
| Q4 24 | $330.2M | $261.9M | ||
| Q3 24 | $322.7M | $262.2M | ||
| Q2 24 | $309.1M | $255.9M | ||
| Q1 24 | $308.1M | $254.7M |
| Q4 25 | $11.3M | $128.8M | ||
| Q3 25 | $11.8M | $130.7M | ||
| Q2 25 | $11.6M | $120.7M | ||
| Q1 25 | $13.1M | $84.3M | ||
| Q4 24 | $9.9M | $94.4M | ||
| Q3 24 | $9.0M | $95.3M | ||
| Q2 24 | $9.2M | $96.5M | ||
| Q1 24 | $8.0M | $86.8M |
| 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% | 50.2% | ||
| Q3 25 | 4.6% | 50.9% | ||
| Q2 25 | 4.7% | 49.7% | ||
| Q1 25 | 5.2% | 36.9% | ||
| Q4 24 | 4.0% | 46.2% | ||
| Q3 24 | 3.7% | 45.7% | ||
| Q2 24 | 4.2% | 45.1% | ||
| Q1 24 | 3.7% | 42.5% |
| Q4 25 | 3.4% | 40.5% | ||
| Q3 25 | 3.5% | 40.4% | ||
| Q2 25 | 3.5% | 39.5% | ||
| Q1 25 | 3.9% | 29.1% | ||
| Q4 24 | 3.0% | 36.0% | ||
| Q3 24 | 2.8% | 36.3% | ||
| Q2 24 | 3.0% | 37.7% | ||
| Q1 24 | 2.6% | 34.1% |
| Q4 25 | $0.49 | $0.91 | ||
| Q3 25 | $0.51 | $0.92 | ||
| Q2 25 | $0.50 | $0.85 | ||
| Q1 25 | $0.56 | $0.59 | ||
| Q4 24 | $0.43 | $0.70 | ||
| Q3 24 | $0.38 | $0.70 | ||
| Q2 24 | $0.40 | $0.71 | ||
| Q1 24 | $0.35 | $0.64 |
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 | — |
| Total DebtLower is stronger | — | $531.8M |
| Stockholders' EquityBook value | $220.0M | $5.5B |
| Total Assets | $668.6M | $33.7B |
| Debt / EquityLower = less leverage | — | 0.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | — | ||
| Q3 25 | $17.1M | — | ||
| Q2 25 | $13.2M | — | ||
| Q1 25 | $21.2M | — | ||
| Q4 24 | $6.3M | — | ||
| Q3 24 | $8.9M | — | ||
| Q2 24 | $13.9M | — | ||
| Q1 24 | $11.0M | — |
| Q4 25 | — | $531.8M | ||
| Q3 25 | — | $250.0M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $250.0M | ||
| Q4 24 | — | $540.4M | ||
| Q3 24 | — | $260.3M | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | $220.0M | $5.5B | ||
| Q3 25 | $212.4M | $5.4B | ||
| Q2 25 | $202.5M | $5.4B | ||
| Q1 25 | $193.0M | $5.3B | ||
| Q4 24 | $181.9M | $5.0B | ||
| Q3 24 | $174.3M | $5.0B | ||
| Q2 24 | $167.8M | $4.9B | ||
| Q1 24 | $160.0M | $4.8B |
| Q4 25 | $668.6M | $33.7B | ||
| Q3 25 | $670.5M | $33.4B | ||
| Q2 25 | $659.0M | $32.8B | ||
| Q1 25 | $664.6M | $32.8B | ||
| Q4 24 | $648.9M | $30.0B | ||
| Q3 24 | $655.5M | $29.9B | ||
| Q2 24 | $654.4M | $30.0B | ||
| Q1 24 | $656.6M | $30.0B |
| Q4 25 | — | 0.10× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.05× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.05× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.30× |
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 | $498.9M |
| Free Cash FlowOCF − Capex | $11.6M | $481.2M |
| FCF MarginFCF / Revenue | 3.4% | 151.1% |
| Capex IntensityCapex / Revenue | 2.9% | 5.6% |
| Cash ConversionOCF / Net Profit | 1.86× | 3.87× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $828.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $498.9M | ||
| Q3 25 | $15.6M | $150.6M | ||
| Q2 25 | $2.9M | $89.4M | ||
| Q1 25 | $34.1M | $120.0M | ||
| Q4 24 | $2.7M | $445.5M | ||
| Q3 24 | $24.5M | $123.6M | ||
| Q2 24 | $12.4M | $61.2M | ||
| Q1 24 | $20.2M | $124.4M |
| Q4 25 | $11.6M | $481.2M | ||
| Q3 25 | $7.5M | $146.4M | ||
| Q2 25 | $-4.2M | $85.2M | ||
| Q1 25 | $27.6M | $116.1M | ||
| Q4 24 | $-6.9M | $433.3M | ||
| Q3 24 | $18.0M | $122.0M | ||
| Q2 24 | $3.6M | $58.2M | ||
| Q1 24 | $9.8M | $119.6M |
| Q4 25 | 3.4% | 151.1% | ||
| Q3 25 | 2.2% | 45.3% | ||
| Q2 25 | -1.3% | 27.8% | ||
| Q1 25 | 8.2% | 40.1% | ||
| Q4 24 | -2.1% | 165.4% | ||
| Q3 24 | 5.6% | 46.5% | ||
| Q2 24 | 1.2% | 22.7% | ||
| Q1 24 | 3.2% | 47.0% |
| Q4 25 | 2.9% | 5.6% | ||
| Q3 25 | 2.4% | 1.3% | ||
| Q2 25 | 2.2% | 1.4% | ||
| Q1 25 | 1.9% | 1.3% | ||
| Q4 24 | 2.9% | 4.6% | ||
| Q3 24 | 2.0% | 0.6% | ||
| Q2 24 | 2.9% | 1.2% | ||
| Q1 24 | 3.4% | 1.9% |
| Q4 25 | 1.86× | 3.87× | ||
| Q3 25 | 1.32× | 1.15× | ||
| Q2 25 | 0.25× | 0.74× | ||
| Q1 25 | 2.60× | 1.42× | ||
| Q4 24 | 0.27× | 4.72× | ||
| Q3 24 | 2.72× | 1.30× | ||
| Q2 24 | 1.35× | 0.63× | ||
| Q1 24 | 2.54× | 1.43× |
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% |
UBSI
Segment breakdown not available.
