Natural Grocers by Vitamin Cottage, Inc. (NGVC) Revenue History
Annual and quarterly revenue from 2010 to present
NGVC Revenue Over Time (2010–2025)
NGVC Revenue Growth History
15 of 15 years with positive growth- FY2010 revenue growth
- N/A
- FY2011 revenue growth
- +16.6%
- FY2012 revenue growth
- +27.2%
- FY2013 revenue growth
- +28.0%
- FY2014 revenue growth
- +20.9%
- FY2015 revenue growth
- +20.0%
- FY2016 revenue growth
- +12.9%
- FY2017 revenue growth
- +9.0%
- FY2018 revenue growth
- +10.4%
- FY2019 revenue growth
- +6.4%
- FY2020 revenue growth
- +14.7%
- FY2021 revenue growth
- +1.8%
- FY2022 revenue growth
- +3.2%
- FY2023 revenue growth
- +4.7%
- FY2024 revenue growth
- +8.9%
- FY2025 revenue growth
- +7.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $337.4M | +0.5% |
| Q1 2026 | $335.6M | +1.6% |
| Q4 2025 | $336.1M | +4.2% |
| Q3 2025 | $328.7M | +6.3% |
| Q2 2025 | $335.8M | +9.0% |
| Q1 2025 | $330.2M | +9.4% |
| Q4 2024 | $322.7M | +9.3% |
| Q3 2024 | $309.1M | +9.7% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
NGVC's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
NGVC Revenue Analysis (2010–2025)
Current Revenue & Growth
As of June 22, 2026, Natural Grocers by Vitamin Cottage, Inc. (NGVC) generated trailing twelve-month (TTM) revenue of $1.34 billion, reflecting modest growth of +0.5% year-over-year. The most recent quarter (Q2 2026) recorded $337.4 million in revenue, up 0.5% sequentially.
Historical Growth Trajectory
NGVC's 5-year compound annual growth rate (CAGR) stands at +5.1%, indicating steady revenue expansion. The 3-year CAGR of +6.9% exceeds the 5-year average, indicating an acceleration in the most recent period. Natural Grocers by Vitamin Cottage, Inc.'s highest annual revenue of $1.33 billion was recorded in 2025, an all-time high.
Revenue by Segment
NGVC's revenue is primarily driven by Gift Cards (100%). With over half of revenue concentrated in Gift Cards, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Defensive sector peers — including SFM (+10.2% YoY), HAIN (-10.0% YoY), and KR (+1.1% YoY) — NGVC has underperformed the peer group in revenue growth. Compare NGVC vs SFM →
NGVC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NGVCCurrent | $1.3B | +0.5% | +5.1% | 4.7% | |
 SFM | $8.8B | +10.2% | +6.4% | 7.8% | |
 HAIN | $1.6B | -10.0% | -5.4% | 3.6% | |
 KR | $147.6B | +1.1% | +2.2% | 1.3% | |
 ACI | $80.4B | +2.2% | +5.2% | 1.9% | |
 WMT | $713.2B | +5.9% | +5.0% | 4.2% |
NGVC Historical Revenue Data (2010–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.33B | +7.2% | $397.9M | 29.9% | $62.0M | 4.7% |
| 2024 | $1.24B | +8.9% | $364.8M | 29.4% | $47.0M | 3.8% |
| 2023 | $1.14B | +4.7% | $326.9M | 28.7% | $31.7M | 2.8% |
| 2022 | $1.09B | +3.2% | $304.9M | 28.0% | $30.2M | 2.8% |
| 2021 | $1.06B | +1.8% | $292.2M | 27.7% | $28.3M | 2.7% |
| 2020 | $1.04B | +14.7% | $283.1M | 27.3% | $27.7M | 2.7% |
| 2019 | $903.6M | +6.4% | $238.8M | 26.4% | $16.8M | 1.9% |
| 2018 | $849.0M | +10.4% | $225.6M | 26.6% | $15.1M | 1.8% |
| 2017 | $769.0M | +9.0% | $212.3M | 27.6% | $14.1M | 1.8% |
| 2016 | $705.5M | +12.9% | $201.8M | 28.6% | $20.4M | 2.9% |
| 2015 | $624.7M | +20.0% | $182.1M | 29.2% | $28.6M | 4.6% |
| 2014 | $520.7M | +20.9% | $151.5M | 29.1% | $24.2M | 4.7% |
| 2013 | $430.7M | +28.0% | $125.7M | 29.2% | $19.1M | 4.4% |
| 2012 | $336.4M | +27.2% | $99.1M | 29.4% | $12.3M | 3.7% |
| 2011 | $264.5M | +16.6% | $77.4M | 29.3% | $7.4M | 2.8% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
16+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
NGVC — Frequently Asked Questions
Quick answers to the most common questions about buying NGVC stock.
Is NGVC's revenue growth accelerating or slowing?
NGVC revenue growth is slowing. TTM revenue is $1.3B, up +0.5% year-over-year — below the 5-year CAGR of +5.1%. The deceleration suggests maturing end-markets or increased competition.
What is NGVC's revenue history from 2010 to 2026?
Natural Grocers by Vitamin Cottage, Inc. (NGVC) revenue history spans 2010 to 2026. TTM revenue as of 2026 is $1.3B, growing at +0.5% YoY. The 5-year CAGR is +5.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is NGVC's long-term revenue growth rate (CAGR)?
Natural Grocers by Vitamin Cottage, Inc.'s 5-year revenue CAGR of +5.1% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +0.5% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for NGVC.
Why does NGVC's quarterly revenue fluctuate?
NGVC quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Natural Grocers by Vitamin Cottage, Inc.'s revenue data from 2010 to 2026 shows full historical quarterly detail on this page.
How is NGVC's revenue distributed by segment?
NGVC reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does NGVC's revenue compare to industry peers?
Natural Grocers by Vitamin Cottage, Inc. (NGVC) with TTM revenue of $1.3B and +0.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.