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Grocery Outlet Holding vs Natural Grocers By Vitamin Cottage

Grocery Outlet Holding is the larger business, with $4.69bn of revenue in fiscal 2025 against $1.33bn for Natural Grocers By Vitamin Cottage (3.5 times as much). Grocery Outlet Holding grew faster (7.3% against 7.2%). Natural Grocers By Vitamin Cottage kept more of each dollar of sales as profit: a net margin of 3.5% against -4.8%. Natural Grocers By Vitamin Cottage carries less debt relative to equity (0.0% against 50.2%).

Latest fiscal yearGrocery Outlet HoldingGO, 2025Natural Grocers By Vitamin CottageNGVC, 2025
Revenue $4.69bn $1.33bn
Revenue growth 7.3% 7.2%
Net income −$225m $46.4m
Operating margin -4.7% 4.7%
Net margin -4.8% 3.5%
Return on equity -20.6% 24.0%
Free cash flow $23.8m $24.1m
Cash $69.6m $17.1m
Total debt $494m $0
Debt to equity 50.2% 0.0%
Dividend per share — —
Dividend yield — 1.9%
Share buybacks $0 $0
Employees 2,207 —
Market value $1.26bn $650m
Price vs our value range — Within our value range
Moat score 35 (Weak) 49 (Moderate)
Insider trades, 12 months 19 buys, 12 sales 0 buys, 1 sales

Each figure is from the company's latest annual report and links to the page it comes from. Fiscal years can end on different dates. Market value and the value verdict use the delayed price shown on the stock pages. Not a recommendation.

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Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.