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Side-by-side financial comparison of Natural Grocers by Vitamin Cottage, Inc. (NGVC) and OLYMPIC STEEL INC (ZEUS). Click either name above to swap in a different company.
OLYMPIC STEEL INC is the larger business by last-quarter revenue ($490.7M vs $335.6M, roughly 1.5× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs 0.4%, a 2.9% gap on every dollar of revenue. On growth, OLYMPIC STEEL INC posted the faster year-over-year revenue change (4.4% vs 1.6%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-12.9M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs 0.1%).
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.
Olympic Steel, Inc. is a metals service center based in Cleveland, Ohio. The company processes and distributes carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminium alloy, tin plate, and metal-intensive branded products primarily in the United States. Metals processing and value added services include tempering, stretch leveling, cutting-to-length, slitting, edging, shearing, blanking, burning, forming, shot blasting, laser punching, plate rolling, fabricating, machi...
NGVC vs ZEUS — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.6M | $490.7M |
| Net Profit | $11.3M | $2.2M |
| Gross Margin | 29.5% | — |
| Operating Margin | 4.4% | 1.5% |
| Net Margin | 3.4% | 0.4% |
| Revenue YoY | 1.6% | 4.4% |
| Net Profit YoY | 14.0% | -21.2% |
| EPS (diluted) | $0.49 | $0.18 |
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 | — | ||
| Q3 25 | $336.1M | $490.7M | ||
| Q2 25 | $328.7M | $496.5M | ||
| Q1 25 | $335.8M | $492.9M | ||
| Q4 24 | $330.2M | $418.8M | ||
| Q3 24 | $322.7M | $470.0M | ||
| Q2 24 | $309.1M | $526.3M | ||
| Q1 24 | $308.1M | $526.6M |
| Q4 25 | $11.3M | — | ||
| Q3 25 | $11.8M | $2.2M | ||
| Q2 25 | $11.6M | $5.2M | ||
| Q1 25 | $13.1M | $2.5M | ||
| Q4 24 | $9.9M | $3.9M | ||
| Q3 24 | $9.0M | $2.7M | ||
| Q2 24 | $9.2M | $7.7M | ||
| Q1 24 | $8.0M | $8.7M |
| 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% | — | ||
| Q3 25 | 4.6% | 1.5% | ||
| Q2 25 | 4.7% | 2.3% | ||
| Q1 25 | 5.2% | 1.6% | ||
| Q4 24 | 4.0% | 2.1% | ||
| Q3 24 | 3.7% | 1.7% | ||
| Q2 24 | 4.2% | 2.9% | ||
| Q1 24 | 3.7% | 3.0% |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 3.5% | 0.4% | ||
| Q2 25 | 3.5% | 1.1% | ||
| Q1 25 | 3.9% | 0.5% | ||
| Q4 24 | 3.0% | 0.9% | ||
| Q3 24 | 2.8% | 0.6% | ||
| Q2 24 | 3.0% | 1.5% | ||
| Q1 24 | 2.6% | 1.7% |
| Q4 25 | $0.49 | — | ||
| Q3 25 | $0.51 | $0.18 | ||
| Q2 25 | $0.50 | $0.45 | ||
| Q1 25 | $0.56 | $0.21 | ||
| Q4 24 | $0.43 | $0.33 | ||
| Q3 24 | $0.38 | $0.23 | ||
| Q2 24 | $0.40 | $0.66 | ||
| Q1 24 | $0.35 | $0.75 |
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 | $7.5M |
| Total DebtLower is stronger | — | $240.9M |
| Stockholders' EquityBook value | $220.0M | $579.1M |
| Total Assets | $668.6M | $1.1B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.2M | — | ||
| Q3 25 | $17.1M | $7.5M | ||
| Q2 25 | $13.2M | $14.8M | ||
| Q1 25 | $21.2M | $13.3M | ||
| Q4 24 | $6.3M | $11.9M | ||
| Q3 24 | $8.9M | $11.1M | ||
| Q2 24 | $13.9M | $9.4M | ||
| Q1 24 | $11.0M | $10.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | $240.9M | ||
| Q2 25 | — | $233.2M | ||
| Q1 25 | — | $235.4M | ||
| Q4 24 | — | $272.5M | ||
| Q3 24 | — | $197.3M | ||
| Q2 24 | — | $209.2M | ||
| Q1 24 | — | $196.8M |
| Q4 25 | $220.0M | — | ||
| Q3 25 | $212.4M | $579.1M | ||
| Q2 25 | $202.5M | $578.2M | ||
| Q1 25 | $193.0M | $574.2M | ||
| Q4 24 | $181.9M | $573.9M | ||
| Q3 24 | $174.3M | $570.6M | ||
| Q2 24 | $167.8M | $569.5M | ||
| Q1 24 | $160.0M | $563.0M |
| Q4 25 | $668.6M | — | ||
| Q3 25 | $670.5M | $1.1B | ||
| Q2 25 | $659.0M | $1.1B | ||
| Q1 25 | $664.6M | $1.1B | ||
| Q4 24 | $648.9M | $1.0B | ||
| Q3 24 | $655.5M | $1.0B | ||
| Q2 24 | $654.4M | $1.0B | ||
| Q1 24 | $656.6M | $1.0B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.41× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 0.35× |
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 | $-5.4M |
| Free Cash FlowOCF − Capex | $11.6M | $-12.9M |
| FCF MarginFCF / Revenue | 3.4% | -2.6% |
| Capex IntensityCapex / Revenue | 2.9% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.86× | -2.50× |
| TTM Free Cash FlowTrailing 4 quarters | $42.6M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | — | ||
| Q3 25 | $15.6M | $-5.4M | ||
| Q2 25 | $2.9M | $15.5M | ||
| Q1 25 | $34.1M | $49.4M | ||
| Q4 24 | $2.7M | $14.6M | ||
| Q3 24 | $24.5M | $24.6M | ||
| Q2 24 | $12.4M | $-2.9M | ||
| Q1 24 | $20.2M | $-2.6M |
| Q4 25 | $11.6M | — | ||
| Q3 25 | $7.5M | $-12.9M | ||
| Q2 25 | $-4.2M | $6.8M | ||
| Q1 25 | $27.6M | $40.6M | ||
| Q4 24 | $-6.9M | $7.4M | ||
| Q3 24 | $18.0M | $15.6M | ||
| Q2 24 | $3.6M | $-11.3M | ||
| Q1 24 | $9.8M | $-7.4M |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 2.2% | -2.6% | ||
| Q2 25 | -1.3% | 1.4% | ||
| Q1 25 | 8.2% | 8.2% | ||
| Q4 24 | -2.1% | 1.8% | ||
| Q3 24 | 5.6% | 3.3% | ||
| Q2 24 | 1.2% | -2.2% | ||
| Q1 24 | 3.2% | -1.4% |
| Q4 25 | 2.9% | — | ||
| Q3 25 | 2.4% | 1.5% | ||
| Q2 25 | 2.2% | 1.7% | ||
| Q1 25 | 1.9% | 1.8% | ||
| Q4 24 | 2.9% | 1.7% | ||
| Q3 24 | 2.0% | 1.9% | ||
| Q2 24 | 2.9% | 1.6% | ||
| Q1 24 | 3.4% | 0.9% |
| Q4 25 | 1.86× | — | ||
| Q3 25 | 1.32× | -2.50× | ||
| Q2 25 | 0.25× | 2.96× | ||
| Q1 25 | 2.60× | 19.70× | ||
| Q4 24 | 0.27× | 3.75× | ||
| Q3 24 | 2.72× | 9.01× | ||
| Q2 24 | 1.35× | -0.38× | ||
| Q1 24 | 2.54× | -0.30× |
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% |
ZEUS
| Carbon Flat Products | $268.2M | 55% |
| Specialty Metals Flat Products | $140.9M | 29% |
| Tubular And Pipe Products | $81.6M | 17% |
