Natural Grocers by Vitamin Cottage, Inc. (NGVC)

NGVC Income Statement

Financials in millions USD. Fiscal year is October - September.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Revenue	1,317	1,242	1,141	1,090	1,056	1,037
Revenue Growth (YoY)	8.51%	8.86%	4.67%	3.23%	1.80%	14.75%
Cost of Revenue	871.99	826.16	763.3	735.91	715.07	705.7
Gross Profit	445.37	415.43	377.27	353.71	340.45	331.14
Selling, General & Admin	384.45	364.95	342.57	319.82	310.34	301.4
Operating Expenses	385.32	366.25	344.3	320.66	311.02	302.79
Operating Income	60.05	49.18	32.97	33.06	29.43	28.35
Interest Expense	-3.42	-4.18	-3.3	-2.37	-2.27	-2.05
EBT Excluding Unusual Items	56.63	45	29.67	30.68	27.16	26.3
Asset Writedown	-1.49	-2.2	-1.3	-2.9	-1.1	-0.6
Pretax Income	55.13	42.8	28.37	27.78	26.06	25.7
Income Tax Expense	11.48	8.87	5.13	6.42	5.48	5.69
Net Income	43.65	33.94	23.24	21.37	20.58	20.01
Net Income to Common	43.65	33.94	23.24	21.37	20.58	20.01
Net Income Growth	41.71%	46.00%	8.79%	3.81%	2.86%	112.50%
Shares Outstanding (Basic)	23	23	23	23	23	23
Shares Outstanding (Diluted)	23	23	23	23	23	23
Shares Change (YoY)	0.98%	1.09%	0.08%	0.46%	0.59%	0.10%
EPS (Basic)	1.91	1.49	1.02	0.94	0.91	0.89
EPS (Diluted)	1.88	1.47	1.02	0.94	0.91	0.89
EPS Growth	40.24%	44.12%	8.51%	3.30%	2.34%	111.77%
Free Cash Flow	34.51	36.22	28.04	11.66	27.53	39.75
Free Cash Flow Per Share	1.49	1.57	1.23	0.51	1.21	1.76
Dividend Per Share	0.460	0.400	0.400	0.400	0.280	0.280
Dividend Growth	15.00%	-	-	42.86%	-	-
Gross Margin	33.81%	33.46%	33.08%	32.46%	32.25%	31.94%
Operating Margin	4.56%	3.96%	2.89%	3.03%	2.79%	2.73%
Profit Margin	3.31%	2.73%	2.04%	1.96%	1.95%	1.93%
Free Cash Flow Margin	2.62%	2.92%	2.46%	1.07%	2.61%	3.83%
EBITDA	93.47	81.81	63.38	61.66	59.86	60.34
EBITDA Margin	7.09%	6.59%	5.56%	5.66%	5.67%	5.82%
D&A For EBITDA	33.42	32.63	30.41	28.61	30.43	31.99
EBIT	60.05	49.18	32.97	33.06	29.43	28.35
EBIT Margin	4.56%	3.96%	2.89%	3.03%	2.79%	2.73%
Effective Tax Rate	20.82%	20.71%	18.07%	23.10%	21.01%	22.15%

Updated Aug 7, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q