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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and WORKIVA INC (WK). 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 $238.9M, roughly 1.4× WORKIVA INC). WORKIVA INC runs the higher net margin — 4.9% vs 3.4%, a 1.6% gap on every dollar of revenue. On growth, WORKIVA INC posted the faster year-over-year revenue change (19.5% vs 1.6%). WORKIVA INC produced more free cash flow last quarter ($50.7M vs $11.6M). Over the past eight quarters, WORKIVA INC's revenue compounded faster (16.6% 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.
Workiva, Inc. is a global software-as-a-service (SaaS) company. It provides a cloud-based connected and reporting compliance platform that enables the use of connected data and automation of reporting across finance, accounting, risk, and compliance.
NGVC vs WK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $238.9M |
| Net Profit | $11.3M | $11.8M |
| Gross Margin | 29.5% | 80.7% |
| Operating Margin | 4.4% | 3.3% |
| Net Margin | 3.4% | 4.9% |
| Revenue YoY | 1.6% | 19.5% |
| Net Profit YoY | 14.0% | 234.0% |
| EPS (diluted) | $0.49 | $0.21 |
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 | $238.9M | ||
| Q3 25 | $336.1M | $224.2M | ||
| Q2 25 | $328.7M | $215.2M | ||
| Q1 25 | $335.8M | $206.3M | ||
| Q4 24 | $330.2M | $199.9M | ||
| Q3 24 | $322.7M | $185.6M | ||
| Q2 24 | $309.1M | $177.5M | ||
| Q1 24 | $308.1M | $175.7M |
| Q4 25 | $11.3M | $11.8M | ||
| Q3 25 | $11.8M | $2.8M | ||
| Q2 25 | $11.6M | $-19.4M | ||
| Q1 25 | $13.1M | $-21.4M | ||
| Q4 24 | $9.9M | $-8.8M | ||
| Q3 24 | $9.0M | $-17.0M | ||
| Q2 24 | $9.2M | $-17.5M | ||
| Q1 24 | $8.0M | $-11.7M |
| Q4 25 | 29.5% | 80.7% | ||
| Q3 25 | 29.5% | 79.3% | ||
| Q2 25 | 29.9% | 77.0% | ||
| Q1 25 | 30.3% | 76.6% | ||
| Q4 24 | 29.9% | 77.1% | ||
| Q3 24 | 29.6% | 76.5% | ||
| Q2 24 | 29.2% | 76.8% | ||
| Q1 24 | 29.3% | 76.4% |
| Q4 25 | 4.4% | 3.3% | ||
| Q3 25 | 4.6% | -1.5% | ||
| Q2 25 | 4.7% | -10.3% | ||
| Q1 25 | 5.2% | -12.0% | ||
| Q4 24 | 4.0% | -6.7% | ||
| Q3 24 | 3.7% | -11.7% | ||
| Q2 24 | 4.2% | -13.0% | ||
| Q1 24 | 3.7% | -10.4% |
| Q4 25 | 3.4% | 4.9% | ||
| Q3 25 | 3.5% | 1.2% | ||
| Q2 25 | 3.5% | -9.0% | ||
| Q1 25 | 3.9% | -10.4% | ||
| Q4 24 | 3.0% | -4.4% | ||
| Q3 24 | 2.8% | -9.2% | ||
| Q2 24 | 3.0% | -9.9% | ||
| Q1 24 | 2.6% | -6.7% |
| Q4 25 | $0.49 | $0.21 | ||
| Q3 25 | $0.51 | $0.05 | ||
| Q2 25 | $0.50 | $-0.35 | ||
| Q1 25 | $0.56 | $-0.38 | ||
| Q4 24 | $0.43 | $-0.15 | ||
| Q3 24 | $0.38 | $-0.31 | ||
| Q2 24 | $0.40 | $-0.32 | ||
| Q1 24 | $0.35 | $-0.21 |
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 | $338.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $220.0M | $-5.4M |
| Total Assets | $668.6M | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $338.8M | ||
| Q3 25 | $17.1M | $315.9M | ||
| Q2 25 | $13.2M | $284.3M | ||
| Q1 25 | $21.2M | $242.0M | ||
| Q4 24 | $6.3M | $301.8M | ||
| Q3 24 | $8.9M | $248.2M | ||
| Q2 24 | $13.9M | $267.9M | ||
| Q1 24 | $11.0M | $296.1M |
| Q4 25 | $220.0M | $-5.4M | ||
| Q3 25 | $212.4M | $-36.9M | ||
| Q2 25 | $202.5M | $-66.5M | ||
| Q1 25 | $193.0M | $-75.7M | ||
| Q4 24 | $181.9M | $-41.7M | ||
| Q3 24 | $174.3M | $-50.8M | ||
| Q2 24 | $167.8M | $-77.7M | ||
| Q1 24 | $160.0M | $-83.2M |
| Q4 25 | $668.6M | $1.5B | ||
| Q3 25 | $670.5M | $1.4B | ||
| Q2 25 | $659.0M | $1.3B | ||
| Q1 25 | $664.6M | $1.3B | ||
| Q4 24 | $648.9M | $1.4B | ||
| Q3 24 | $655.5M | $1.3B | ||
| Q2 24 | $654.4M | $1.2B | ||
| Q1 24 | $656.6M | $1.2B |
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 | $51.0M |
| Free Cash FlowOCF − Capex | $11.6M | $50.7M |
| FCF MarginFCF / Revenue | 3.4% | 21.2% |
| Capex IntensityCapex / Revenue | 2.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.86× | 4.31× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $138.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $51.0M | ||
| Q3 25 | $15.6M | $46.2M | ||
| Q2 25 | $2.9M | $50.3M | ||
| Q1 25 | $34.1M | $-7.4M | ||
| Q4 24 | $2.7M | $44.0M | ||
| Q3 24 | $24.5M | $18.9M | ||
| Q2 24 | $12.4M | $-14.0K | ||
| Q1 24 | $20.2M | $24.8M |
| Q4 25 | $11.6M | $50.7M | ||
| Q3 25 | $7.5M | $46.1M | ||
| Q2 25 | $-4.2M | $49.3M | ||
| Q1 25 | $27.6M | $-8.1M | ||
| Q4 24 | $-6.9M | $43.2M | ||
| Q3 24 | $18.0M | $18.7M | ||
| Q2 24 | $3.6M | $-122.0K | ||
| Q1 24 | $9.8M | $24.6M |
| Q4 25 | 3.4% | 21.2% | ||
| Q3 25 | 2.2% | 20.5% | ||
| Q2 25 | -1.3% | 22.9% | ||
| Q1 25 | 8.2% | -3.9% | ||
| Q4 24 | -2.1% | 21.6% | ||
| Q3 24 | 5.6% | 10.1% | ||
| Q2 24 | 1.2% | -0.1% | ||
| Q1 24 | 3.2% | 14.0% |
| Q4 25 | 2.9% | 0.1% | ||
| Q3 25 | 2.4% | 0.0% | ||
| Q2 25 | 2.2% | 0.5% | ||
| Q1 25 | 1.9% | 0.4% | ||
| Q4 24 | 2.9% | 0.4% | ||
| Q3 24 | 2.0% | 0.1% | ||
| Q2 24 | 2.9% | 0.1% | ||
| Q1 24 | 3.4% | 0.1% |
| Q4 25 | 1.86× | 4.31× | ||
| Q3 25 | 1.32× | 16.57× | ||
| 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% |
WK
| License And Service | $219.3M | 92% |
| XBRL Professional Services | $16.4M | 7% |
| Other Services | $3.2M | 1% |
