Natural Grocers by Vitamin Cottage Inc

Research Natural Grocers by Vitamin Cottage Inc (NGVC) on Bullrun: valuation model: 34.4% undervalued, market cap USD 650.59M, P/E 13.8, dividend yield 2.6%. Explore financials, valuation history, model signals, and stock context.

Key Metrics

TickerNGVC
ExchangeNYSE
CountryUnited States
SectorConsumer Defensive
IndustryGrocery Stores
CurrencyUSD
Valuation signal34.4% undervalued
Market capUSD 650.59M
P/E13.8
Dividend yield2.6%
Financial periodQ2 2026
RevenueUSD 334.74M
Net incomeUSD 11.07M
Free cash flowUSD 1.24M
Gross margin29.3%

Valuation Snapshot

Bullrun's latest valuation model marks Natural Grocers by Vitamin Cottage Inc as 34.4% undervalued; latest market cap is USD 650.59M; P/E is 13.8; dividend yield is 2.6%.

Peer valuation comparison

Latest P/E is 13.78x versus a Consumer Defensive sector median of 17.41x (20.9% below).

Latest dividend yield is 2.64% versus a Consumer Defensive sector median of 3.04% (13.2% below).

Five-year financial history

Year	Revenue	Net income	Free cash flow	Gross margin	Diluted EPS	Cash	Total debt	Equity
FY2025	USD 1.33B	USD 46.44M	USD 24.10M	29.9%	2	USD 17.12M	USD 0	USD 212.40M
FY2024	USD 1.24B	USD 33.94M	USD 36.22M	29.4%	1.47	USD 8.87M	USD 0	USD 174.25M
FY2023	USD 1.14B	USD 23.24M	USD 28.04M	28.7%	1.02	USD 18.34M	USD 7.69M	USD 170.84M
FY2022	USD 1.09B	USD 21.37M	USD 11.66M	28.0%	0.94	USD 12.04M	USD 15.69M	USD 155.81M

Valuation history

Year	Snapshot date	Market cap	P/E	Dividend yield	Annual dividend/share
2026	2026-08-25	USD 650.59M	13.8	2.6%	0.72
2025	2025-12-31	USD 576.98M	12.2	2.0%	0.51
2024	2024-12-31	USD 910.83M	25.5	1.1%	0.42
2023	2023-12-29	USD 364.04M	15.7	8.8%	1.4
2022	2022-12-30	USD 207.59M	9.7	4.4%	0.4
2021	2021-12-31	USD 322.68M	12.5	2.2%	0.31

Dividend history

Latest trailing dividend snapshot: annual dividend/share 0.72 USD, yield 2.6%.

Year	Dividends/share
FY2025	0.51 USD
FY2024	0.42 USD
FY2023	1.4 USD
FY2022	0.4 USD

About Natural Grocers by Vitamin Cottage Inc

Natural Grocers by Vitamin Cottage, Inc., together with its subsidiaries, retails natural and organic groceries, and dietary supplements in the United States. The company's stores offer natural and organic grocery products, such as organic produce; private label repackaged bulk products, including dried fruits, nuts, grains, granolas, teas, herbs, and spices, as well as peanut and almond butters;

Related stock research

United States stocks United States Consumer Defensive stocks A-Z stock index

Other Consumer Defensive stocks

Albertsons Companies Inc - Class A (ACI) Krispy Kreme Inc (DNUT) Grocery Outlet Holding Corp (GO) Healthy Choice Wellness Corp - Class A (HCWC) Ingles Markets Incorporated (IN3A) Kroger Company (KR) Maison Solutions Inc - Class A (MSS) Sprouts Farmers Market Inc (SFM) Venhub Global Inc (VHUB) VILLAGE SUPER MARKET INC (VSU) Weis Markets Inc (WMK) Yesway, Inc. (YSWY)

Frequently asked questions

Is Natural Grocers by Vitamin Cottage Inc overvalued or undervalued?

Bullrun's valuation model currently marks Natural Grocers by Vitamin Cottage Inc as 34.4% undervalued.

What is Natural Grocers by Vitamin Cottage Inc's market cap?

Natural Grocers by Vitamin Cottage Inc's market capitalization is USD 650.59M.

What is Natural Grocers by Vitamin Cottage Inc's P/E ratio?

Natural Grocers by Vitamin Cottage Inc's price-to-earnings (P/E) ratio is 13.8.

Does Natural Grocers by Vitamin Cottage Inc pay a dividend?

Natural Grocers by Vitamin Cottage Inc has a dividend yield of 2.6%.

What does Natural Grocers by Vitamin Cottage Inc do?

Natural Grocers by Vitamin Cottage, Inc., together with its subsidiaries, retails natural and organic groceries, and dietary supplements in the United States.