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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M vs $335.6M, roughly 1.0× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -12.9%, a 16.3% 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 -0.4%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% 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.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
NGVC vs WD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $340.0M |
| Net Profit | $11.3M | $-13.9M |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | -17.2% |
| Net Margin | 3.4% | -12.9% |
| Revenue YoY | 1.6% | -0.4% |
| Net Profit YoY | 14.0% | -131.0% |
| EPS (diluted) | $0.49 | $-0.41 |
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 | $340.0M | ||
| Q3 25 | $336.1M | $337.7M | ||
| Q2 25 | $328.7M | $319.2M | ||
| Q1 25 | $335.8M | $237.4M | ||
| Q4 24 | $330.2M | $341.5M | ||
| Q3 24 | $322.7M | $292.3M | ||
| Q2 24 | $309.1M | $270.7M | ||
| Q1 24 | $308.1M | $228.1M |
| Q4 25 | $11.3M | $-13.9M | ||
| Q3 25 | $11.8M | $33.5M | ||
| Q2 25 | $11.6M | $34.0M | ||
| Q1 25 | $13.1M | $2.8M | ||
| Q4 24 | $9.9M | $44.8M | ||
| Q3 24 | $9.0M | $28.8M | ||
| Q2 24 | $9.2M | $22.7M | ||
| Q1 24 | $8.0M | $11.9M |
| 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% | -17.2% | ||
| Q3 25 | 4.6% | 13.6% | ||
| Q2 25 | 4.7% | 14.5% | ||
| Q1 25 | 5.2% | 2.2% | ||
| Q4 24 | 4.0% | 15.3% | ||
| Q3 24 | 3.7% | 12.8% | ||
| Q2 24 | 4.2% | 10.4% | ||
| Q1 24 | 3.7% | 6.0% |
| Q4 25 | 3.4% | -12.9% | ||
| Q3 25 | 3.5% | 9.9% | ||
| Q2 25 | 3.5% | 10.6% | ||
| Q1 25 | 3.9% | 1.2% | ||
| Q4 24 | 3.0% | 13.1% | ||
| Q3 24 | 2.8% | 9.9% | ||
| Q2 24 | 3.0% | 8.4% | ||
| Q1 24 | 2.6% | 5.2% |
| Q4 25 | $0.49 | $-0.41 | ||
| Q3 25 | $0.51 | $0.98 | ||
| Q2 25 | $0.50 | $0.99 | ||
| Q1 25 | $0.56 | $0.08 | ||
| Q4 24 | $0.43 | $1.32 | ||
| Q3 24 | $0.38 | $0.85 | ||
| Q2 24 | $0.40 | $0.67 | ||
| Q1 24 | $0.35 | $0.35 |
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 | $299.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $220.0M | $1.7B |
| Total Assets | $668.6M | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $299.3M | ||
| Q3 25 | $17.1M | $274.8M | ||
| Q2 25 | $13.2M | $233.7M | ||
| Q1 25 | $21.2M | $181.0M | ||
| Q4 24 | $6.3M | $279.3M | ||
| Q3 24 | $8.9M | $179.8M | ||
| Q2 24 | $13.9M | $208.1M | ||
| Q1 24 | $11.0M | $216.5M |
| Q4 25 | $220.0M | $1.7B | ||
| Q3 25 | $212.4M | $1.8B | ||
| Q2 25 | $202.5M | $1.8B | ||
| Q1 25 | $193.0M | $1.7B | ||
| Q4 24 | $181.9M | $1.7B | ||
| Q3 24 | $174.3M | $1.7B | ||
| Q2 24 | $167.8M | $1.7B | ||
| Q1 24 | $160.0M | $1.7B |
| Q4 25 | $668.6M | $5.1B | ||
| Q3 25 | $670.5M | $5.8B | ||
| Q2 25 | $659.0M | $4.7B | ||
| Q1 25 | $664.6M | $4.5B | ||
| Q4 24 | $648.9M | $4.4B | ||
| Q3 24 | $655.5M | $4.6B | ||
| Q2 24 | $654.4M | $4.2B | ||
| Q1 24 | $656.6M | $3.8B |
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 | $-664.3M |
| Free Cash FlowOCF − Capex | $11.6M | $-680.1M |
| FCF MarginFCF / Revenue | 3.4% | -200.0% |
| Capex IntensityCapex / Revenue | 2.9% | 4.6% |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $-664.3M | ||
| Q3 25 | $15.6M | $-948.1M | ||
| Q2 25 | $2.9M | $-238.5M | ||
| Q1 25 | $34.1M | $-281.1M | ||
| Q4 24 | $2.7M | $129.4M | ||
| Q3 24 | $24.5M | $-202.0M | ||
| Q2 24 | $12.4M | $-237.8M | ||
| Q1 24 | $20.2M | $38.4M |
| Q4 25 | $11.6M | $-680.1M | ||
| Q3 25 | $7.5M | $-950.4M | ||
| Q2 25 | $-4.2M | $-241.0M | ||
| Q1 25 | $27.6M | $-284.7M | ||
| Q4 24 | $-6.9M | $116.4M | ||
| Q3 24 | $18.0M | $-204.0M | ||
| Q2 24 | $3.6M | $-241.7M | ||
| Q1 24 | $9.8M | $35.2M |
| Q4 25 | 3.4% | -200.0% | ||
| Q3 25 | 2.2% | -281.5% | ||
| Q2 25 | -1.3% | -75.5% | ||
| Q1 25 | 8.2% | -120.0% | ||
| Q4 24 | -2.1% | 34.1% | ||
| Q3 24 | 5.6% | -69.8% | ||
| Q2 24 | 1.2% | -89.3% | ||
| Q1 24 | 3.2% | 15.4% |
| Q4 25 | 2.9% | 4.6% | ||
| Q3 25 | 2.4% | 0.7% | ||
| Q2 25 | 2.2% | 0.8% | ||
| Q1 25 | 1.9% | 1.5% | ||
| Q4 24 | 2.9% | 3.8% | ||
| Q3 24 | 2.0% | 0.7% | ||
| Q2 24 | 2.9% | 1.4% | ||
| Q1 24 | 3.4% | 1.4% |
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | -28.34× | ||
| Q2 25 | 0.25× | -7.02× | ||
| Q1 25 | 2.60× | -102.07× | ||
| Q4 24 | 0.27× | 2.89× | ||
| Q3 24 | 2.72× | -7.01× | ||
| Q2 24 | 1.35× | -10.49× | ||
| Q1 24 | 2.54× | 3.24× |
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% |
WD
Segment breakdown not available.
