vs
Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
WATTS WATER TECHNOLOGIES INC is the larger business by last-quarter revenue ($625.1M vs $335.6M, roughly 1.9× Natural Grocers by Vitamin Cottage, Inc.). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 3.4%, a 10.0% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 1.6%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $11.6M). Over the past eight quarters, WATTS WATER TECHNOLOGIES INC's revenue compounded faster (4.6% 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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
NGVC vs WTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $625.1M |
| Net Profit | $11.3M | $83.7M |
| Gross Margin | 29.5% | 49.5% |
| Operating Margin | 4.4% | 18.2% |
| Net Margin | 3.4% | 13.4% |
| Revenue YoY | 1.6% | 15.7% |
| Net Profit YoY | 14.0% | 24.0% |
| EPS (diluted) | $0.49 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $336.1M | $611.7M | ||
| Q2 25 | $328.7M | $643.7M | ||
| Q1 25 | $335.8M | $558.0M | ||
| Q4 24 | $330.2M | $540.4M | ||
| Q3 24 | $322.7M | $543.6M | ||
| Q2 24 | $309.1M | $597.3M | ||
| Q1 24 | $308.1M | $570.9M |
| Q4 25 | $11.3M | $83.7M | ||
| Q3 25 | $11.8M | $82.2M | ||
| Q2 25 | $11.6M | $100.9M | ||
| Q1 25 | $13.1M | $74.0M | ||
| Q4 24 | $9.9M | $67.5M | ||
| Q3 24 | $9.0M | $69.1M | ||
| Q2 24 | $9.2M | $82.0M | ||
| Q1 24 | $8.0M | $72.6M |
| Q4 25 | 29.5% | 49.5% | ||
| Q3 25 | 29.5% | 48.8% | ||
| Q2 25 | 29.9% | 50.6% | ||
| Q1 25 | 30.3% | 48.8% | ||
| Q4 24 | 29.9% | 46.7% | ||
| Q3 24 | 29.6% | 47.3% | ||
| Q2 24 | 29.2% | 47.7% | ||
| Q1 24 | 29.3% | 46.9% |
| Q4 25 | 4.4% | 18.2% | ||
| Q3 25 | 4.6% | 18.2% | ||
| Q2 25 | 4.7% | 21.0% | ||
| Q1 25 | 5.2% | 15.7% | ||
| Q4 24 | 4.0% | 16.5% | ||
| Q3 24 | 3.7% | 17.1% | ||
| Q2 24 | 4.2% | 18.7% | ||
| Q1 24 | 3.7% | 16.9% |
| Q4 25 | 3.4% | 13.4% | ||
| Q3 25 | 3.5% | 13.4% | ||
| Q2 25 | 3.5% | 15.7% | ||
| Q1 25 | 3.9% | 13.3% | ||
| Q4 24 | 3.0% | 12.5% | ||
| Q3 24 | 2.8% | 12.7% | ||
| Q2 24 | 3.0% | 13.7% | ||
| Q1 24 | 2.6% | 12.7% |
| Q4 25 | $0.49 | $2.50 | ||
| Q3 25 | $0.51 | $2.45 | ||
| Q2 25 | $0.50 | $3.01 | ||
| Q1 25 | $0.56 | $2.21 | ||
| Q4 24 | $0.43 | $2.02 | ||
| Q3 24 | $0.38 | $2.06 | ||
| Q2 24 | $0.40 | $2.44 | ||
| Q1 24 | $0.35 | $2.17 |
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 | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $220.0M | $2.0B |
| Total Assets | $668.6M | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | $405.5M | ||
| Q3 25 | $17.1M | $457.7M | ||
| Q2 25 | $13.2M | $369.3M | ||
| Q1 25 | $21.2M | $336.8M | ||
| Q4 24 | $6.3M | $386.9M | ||
| Q3 24 | $8.9M | $303.9M | ||
| Q2 24 | $13.9M | $279.4M | ||
| Q1 24 | $11.0M | $237.1M |
| Q4 25 | $220.0M | $2.0B | ||
| Q3 25 | $212.4M | $2.0B | ||
| Q2 25 | $202.5M | $1.9B | ||
| Q1 25 | $193.0M | $1.8B | ||
| Q4 24 | $181.9M | $1.7B | ||
| Q3 24 | $174.3M | $1.7B | ||
| Q2 24 | $167.8M | $1.6B | ||
| Q1 24 | $160.0M | $1.6B |
| Q4 25 | $668.6M | $2.9B | ||
| Q3 25 | $670.5M | $2.7B | ||
| Q2 25 | $659.0M | $2.6B | ||
| Q1 25 | $664.6M | $2.5B | ||
| Q4 24 | $648.9M | $2.4B | ||
| Q3 24 | $655.5M | $2.4B | ||
| Q2 24 | $654.4M | $2.4B | ||
| Q1 24 | $656.6M | $2.3B |
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 | $154.7M |
| Free Cash FlowOCF − Capex | $11.6M | $140.3M |
| FCF MarginFCF / Revenue | 3.4% | 22.4% |
| Capex IntensityCapex / Revenue | 2.9% | 2.3% |
| Cash ConversionOCF / Net Profit | 1.86× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $154.7M | ||
| Q3 25 | $15.6M | $122.4M | ||
| Q2 25 | $2.9M | $69.7M | ||
| Q1 25 | $34.1M | $55.2M | ||
| Q4 24 | $2.7M | $139.5M | ||
| Q3 24 | $24.5M | $90.7M | ||
| Q2 24 | $12.4M | $85.3M | ||
| Q1 24 | $20.2M | $45.6M |
| Q4 25 | $11.6M | $140.3M | ||
| Q3 25 | $7.5M | $110.9M | ||
| Q2 25 | $-4.2M | $59.5M | ||
| Q1 25 | $27.6M | $45.6M | ||
| Q4 24 | $-6.9M | $127.5M | ||
| Q3 24 | $18.0M | $84.3M | ||
| Q2 24 | $3.6M | $78.5M | ||
| Q1 24 | $9.8M | $35.5M |
| Q4 25 | 3.4% | 22.4% | ||
| Q3 25 | 2.2% | 18.1% | ||
| Q2 25 | -1.3% | 9.2% | ||
| Q1 25 | 8.2% | 8.2% | ||
| Q4 24 | -2.1% | 23.6% | ||
| Q3 24 | 5.6% | 15.5% | ||
| Q2 24 | 1.2% | 13.1% | ||
| Q1 24 | 3.2% | 6.2% |
| Q4 25 | 2.9% | 2.3% | ||
| Q3 25 | 2.4% | 1.9% | ||
| Q2 25 | 2.2% | 1.6% | ||
| Q1 25 | 1.9% | 1.7% | ||
| Q4 24 | 2.9% | 2.2% | ||
| Q3 24 | 2.0% | 1.2% | ||
| Q2 24 | 2.9% | 1.1% | ||
| Q1 24 | 3.4% | 1.8% |
| Q4 25 | 1.86× | 1.85× | ||
| Q3 25 | 1.32× | 1.49× | ||
| Q2 25 | 0.25× | 0.69× | ||
| Q1 25 | 2.60× | 0.75× | ||
| Q4 24 | 0.27× | 2.07× | ||
| Q3 24 | 2.72× | 1.31× | ||
| Q2 24 | 1.35× | 1.04× | ||
| Q1 24 | 2.54× | 0.63× |
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% |
WTS
Segment breakdown not available.
