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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
WillScot Holdings Corp is the larger business by last-quarter revenue ($566.0M vs $335.6M, roughly 1.7× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -33.1%, a 36.5% 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 -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $11.6M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -1.8%).
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.
WillScot Holdings Corp is a leading provider of modular space solutions and portable storage services across North America. It serves a wide range of sectors including construction, commercial development, education, healthcare, government projects, and special events, offering flexible, scalable temporary and semi-permanent space solutions tailored to diverse client needs.
NGVC vs WSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $566.0M |
| Net Profit | $11.3M | $-187.3M |
| Gross Margin | 29.5% | 50.4% |
| Operating Margin | 4.4% | -32.5% |
| Net Margin | 3.4% | -33.1% |
| Revenue YoY | 1.6% | -6.1% |
| Net Profit YoY | 14.0% | -310.0% |
| EPS (diluted) | $0.49 | $-1.02 |
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 | $566.0M | ||
| Q3 25 | $336.1M | $566.8M | ||
| Q2 25 | $328.7M | $589.1M | ||
| Q1 25 | $335.8M | $559.6M | ||
| Q4 24 | $330.2M | $602.5M | ||
| Q3 24 | $322.7M | $601.4M | ||
| Q2 24 | $309.1M | $604.6M | ||
| Q1 24 | $308.1M | $587.2M |
| Q4 25 | $11.3M | $-187.3M | ||
| Q3 25 | $11.8M | $43.3M | ||
| Q2 25 | $11.6M | $47.9M | ||
| Q1 25 | $13.1M | $43.1M | ||
| Q4 24 | $9.9M | $89.2M | ||
| Q3 24 | $9.0M | $-70.5M | ||
| Q2 24 | $9.2M | $-46.9M | ||
| Q1 24 | $8.0M | $56.2M |
| Q4 25 | 29.5% | 50.4% | ||
| Q3 25 | 29.5% | 49.7% | ||
| Q2 25 | 29.9% | 50.3% | ||
| Q1 25 | 30.3% | 53.7% | ||
| Q4 24 | 29.9% | 55.8% | ||
| Q3 24 | 29.6% | 53.5% | ||
| Q2 24 | 29.2% | 54.1% | ||
| Q1 24 | 29.3% | 54.0% |
| Q4 25 | 4.4% | -32.5% | ||
| Q3 25 | 4.6% | 21.0% | ||
| Q2 25 | 4.7% | 21.5% | ||
| Q1 25 | 5.2% | 21.3% | ||
| Q4 24 | 4.0% | 28.9% | ||
| Q3 24 | 3.7% | -5.9% | ||
| Q2 24 | 4.2% | -0.9% | ||
| Q1 24 | 3.7% | 22.1% |
| Q4 25 | 3.4% | -33.1% | ||
| Q3 25 | 3.5% | 7.6% | ||
| Q2 25 | 3.5% | 8.1% | ||
| Q1 25 | 3.9% | 7.7% | ||
| Q4 24 | 3.0% | 14.8% | ||
| Q3 24 | 2.8% | -11.7% | ||
| Q2 24 | 3.0% | -7.7% | ||
| Q1 24 | 2.6% | 9.6% |
| Q4 25 | $0.49 | $-1.02 | ||
| Q3 25 | $0.51 | $0.24 | ||
| Q2 25 | $0.50 | $0.26 | ||
| Q1 25 | $0.56 | $0.23 | ||
| Q4 24 | $0.43 | $0.48 | ||
| Q3 24 | $0.38 | $-0.37 | ||
| Q2 24 | $0.40 | $-0.25 | ||
| Q1 24 | $0.35 | $0.29 |
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 | $14.6M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | $220.0M | $856.3M |
| Total Assets | $668.6M | $5.8B |
| Debt / EquityLower = less leverage | — | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $14.6M | ||
| Q3 25 | $17.1M | $14.8M | ||
| Q2 25 | $13.2M | $12.8M | ||
| Q1 25 | $21.2M | $10.7M | ||
| Q4 24 | $6.3M | $9.0M | ||
| Q3 24 | $8.9M | $11.0M | ||
| Q2 24 | $13.9M | $5.9M | ||
| Q1 24 | $11.0M | $13.1M |
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.5B |
| Q4 25 | $220.0M | $856.3M | ||
| Q3 25 | $212.4M | $1.1B | ||
| Q2 25 | $202.5M | $1.0B | ||
| Q1 25 | $193.0M | $1.0B | ||
| Q4 24 | $181.9M | $1.0B | ||
| Q3 24 | $174.3M | $1.1B | ||
| Q2 24 | $167.8M | $1.2B | ||
| Q1 24 | $160.0M | $1.3B |
| Q4 25 | $668.6M | $5.8B | ||
| Q3 25 | $670.5M | $6.1B | ||
| Q2 25 | $659.0M | $6.1B | ||
| Q1 25 | $664.6M | $6.0B | ||
| Q4 24 | $648.9M | $6.0B | ||
| Q3 24 | $655.5M | $6.0B | ||
| Q2 24 | $654.4M | $6.0B | ||
| Q1 24 | $656.6M | $6.2B |
| Q4 25 | — | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 3.56× | ||
| Q4 24 | — | 3.62× | ||
| Q3 24 | — | 3.42× | ||
| Q2 24 | — | 2.88× | ||
| Q1 24 | — | 2.63× |
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 | $158.9M |
| Free Cash FlowOCF − Capex | $11.6M | $149.7M |
| FCF MarginFCF / Revenue | 3.4% | 26.5% |
| Capex IntensityCapex / Revenue | 2.9% | 1.6% |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $158.9M | ||
| Q3 25 | $15.6M | $191.2M | ||
| Q2 25 | $2.9M | $205.3M | ||
| Q1 25 | $34.1M | $206.6M | ||
| Q4 24 | $2.7M | $178.9M | ||
| Q3 24 | $24.5M | $-1.6M | ||
| Q2 24 | $12.4M | $175.6M | ||
| Q1 24 | $20.2M | $208.7M |
| Q4 25 | $11.6M | $149.7M | ||
| Q3 25 | $7.5M | $186.9M | ||
| Q2 25 | $-4.2M | $199.0M | ||
| Q1 25 | $27.6M | $202.0M | ||
| Q4 24 | $-6.9M | $176.6M | ||
| Q3 24 | $18.0M | $-4.9M | ||
| Q2 24 | $3.6M | $169.4M | ||
| Q1 24 | $9.8M | $202.1M |
| Q4 25 | 3.4% | 26.5% | ||
| Q3 25 | 2.2% | 33.0% | ||
| Q2 25 | -1.3% | 33.8% | ||
| Q1 25 | 8.2% | 36.1% | ||
| Q4 24 | -2.1% | 29.3% | ||
| Q3 24 | 5.6% | -0.8% | ||
| Q2 24 | 1.2% | 28.0% | ||
| Q1 24 | 3.2% | 34.4% |
| Q4 25 | 2.9% | 1.6% | ||
| Q3 25 | 2.4% | 0.7% | ||
| Q2 25 | 2.2% | 1.1% | ||
| Q1 25 | 1.9% | 0.8% | ||
| Q4 24 | 2.9% | 0.4% | ||
| Q3 24 | 2.0% | 0.6% | ||
| Q2 24 | 2.9% | 1.0% | ||
| Q1 24 | 3.4% | 1.1% |
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | 4.41× | ||
| Q2 25 | 0.25× | 4.28× | ||
| Q1 25 | 2.60× | 4.80× | ||
| Q4 24 | 0.27× | 2.01× | ||
| Q3 24 | 2.72× | — | ||
| Q2 24 | 1.35× | — | ||
| Q1 24 | 2.54× | 3.71× |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
