Natural Grocers by Vitamin Cottage, Inc.
Financial highlights
| Metric | FY 09/30/25 | FY 09/30/24 | FY 09/30/23 | FY 09/30/22 | FY 09/30/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $1.3B | $1.2B | $1.1B | $1.1B | $1.1B |
| Gross profit | $397.9M | $364.8M | $326.9M | $304.9M | $292.2M |
| Operating expenses | $316.7M | $296.4M | $274.2M | — | — |
| Operating income | $62.0M | $47.0M | $31.7M | $30.2M | $28.3M |
| Interest expense | $3.1M | $4.2M | $3.3M | $2.4M | $2.3M |
| Pretax income | $58.9M | $42.8M | $28.4M | $27.8M | $26.1M |
| Income tax expense | $12.5M | $8.9M | $5.1M | $6.4M | $5.5M |
| Net income | $46.4M | $33.9M | $23.2M | $21.4M | $20.6M |
| Balance Sheet | |||||
| Cash and equivalents | $17.1M | $8.9M | $18.3M | $12.0M | $23.7M |
| Current assets | $168.1M | $147.1M | $152.6M | $140.7M | $135.6M |
| Total assets | $670.5M | $655.5M | $669.2M | $663.1M | $655.1M |
| Current liabilities | $158.8M | $164.1M | $154.0M | $137.7M | $133.8M |
| Total liabilities | $458.1M | $481.2M | $498.3M | $507.3M | $512.3M |
| Stockholders' equity | $212.4M | $174.3M | $170.8M | $155.8M | $142.7M |
| Cash Flow Statement | |||||
| Cash from operations | $55.3M | $73.8M | $64.6M | $39.7M | $53.9M |
| Depreciation and amortization | $31.8M | $30.9M | $28.9M | $27.9M | $29.6M |
| Stock-based compensation | $4.0M | $2.8M | $1.4M | $1.2M | $877,000 |
| Capital expenditure | $31.2M | $37.5M | $36.6M | $28.0M | $26.4M |
| Free cash flow | $24.1M | $36.2M | $28.0M | $11.7M | $27.5M |
| Dividends paid | $11.0M | $31.9M | $9.1M | $9.1M | $51.5M |
| Share repurchases | $0 | $0 | $181,000 | $0 | $0 |
| Impairments | $100,000 | $2.2M | $1.3M | $2.9M | $1.1M |
Shares outstanding 23.0M
Annual filing data through FY ended September 30, 2025; float as of July 14, 2026.