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Natural Grocers by Vitamin Cottage, Inc.（NGVC）与沃茨水工业（WTS）财务数据对比。点击上方公司名可切换其他公司
沃茨水工业的季度营收约是Natural Grocers by Vitamin Cottage, Inc.的2.0倍（$677.3M vs $335.6M），沃茨水工业净利率更高（14.7% vs 3.4%，领先11.3%），沃茨水工业同比增速更快（21.4% vs 1.6%），Natural Grocers by Vitamin Cottage, Inc.自由现金流更多（$11.6M vs $6.6M），过去两年沃茨水工业的营收复合增速更高（6.5% vs 4.4%）
Natural Grocers by Vitamin Cottage, Inc.是美国本土的特色零售连锁企业，主营认证有机食品、膳食补充剂、天然个护及环保家居类产品，面向健康意识较强的消费群体，门店覆盖美国多州，执行严格品控标准，拒绝售卖含人工添加剂的商品。
沃茨水工业旗下AERCO是暖通管道领域的商用冷凝锅炉、高效热水设备及能量回收系统供应商，服务覆盖教育、住宿、政府、办公楼、医疗、工业、多户型住宅等多元市场，1949年推出行业首款半即热式无罐蒸汽热水器，1988年推出首款冷凝全调制设备。
NGVC vs WTS — 直观对比
营收规模更大
WTS
是对方的2.0倍
$335.6M
营收增速更快
WTS
高出19.8%
1.6%
净利率更高
WTS
高出11.3%
3.4%
自由现金流更多
NGVC
多$5.0M
$6.6M
两年增速更快
WTS
近两年复合增速
4.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $335.6M | $677.3M |
| 净利润 | $11.3M | $99.6M |
| 毛利率 | 29.5% | 48.1% |
| 营业利润率 | 4.4% | 19.6% |
| 净利率 | 3.4% | 14.7% |
| 营收同比 | 1.6% | 21.4% |
| 净利润同比 | 14.0% | 34.6% |
| 每股收益（稀释后） | $0.49 | $2.97 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收NGVCWTS
| Q1 26 | — | $677.3M | ||
| 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 |
净利润NGVCWTS
| Q1 26 | — | $99.6M | ||
| 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 |
毛利率NGVCWTS
| Q1 26 | — | 48.1% | ||
| 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% |
营业利润率NGVCWTS
| Q1 26 | — | 19.6% | ||
| 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% |
净利率NGVCWTS
| Q1 26 | — | 14.7% | ||
| 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% |
每股收益（稀释后）NGVCWTS
| Q1 26 | — | $2.97 | ||
| 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 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $23.2M | $374.7M |
| 总债务越低越好 | — | $197.8M |
| 股东权益账面价值 | $220.0M | $2.1B |
| 总资产 | $668.6M | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资NGVCWTS
| Q1 26 | — | $374.7M | ||
| 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 |
总债务NGVCWTS
| Q1 26 | — | $197.8M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益NGVCWTS
| Q1 26 | — | $2.1B | ||
| 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 |
总资产NGVCWTS
| Q1 26 | — | $2.9B | ||
| 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 |
负债/权益比NGVCWTS
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $21.1M | $17.9M |
| 自由现金流经营现金流 - 资本支出 | $11.6M | $6.6M |
| 自由现金流率自由现金流/营收 | 3.4% | 1.0% |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | 1.86× | 0.18× |
| 过去12个月自由现金流最近4个季度 | $42.6M | $317.3M |
8季度趋势，按日历期对齐
经营现金流NGVCWTS
| Q1 26 | — | $17.9M | ||
| 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 |
自由现金流NGVCWTS
| Q1 26 | — | $6.6M | ||
| 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 |
自由现金流率NGVCWTS
| Q1 26 | — | 1.0% | ||
| 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% |
资本支出强度NGVCWTS
| Q1 26 | — | — | ||
| 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% |
现金转化率NGVCWTS
| Q1 26 | — | 0.18× | ||
| 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× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
WTS
| segment net | $517.8M | 76% |
| Other | $159.5M | 24% |
