NATURAL GROCERS BY VITAMIN C (NGVC) Stock Fundamental Analysis

NYSE:NGVC • US63888U1088

25.7 USD
+0.59 (+2.35%)
At close: Feb 23, 2026
26.2 USD
+0.5 (+1.95%)
After Hours: 2/23/2026, 8:04:41 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

Overall NGVC gets a fundamental rating of 6 out of 10. We evaluated NGVC against 38 industry peers in the Consumer Staples Distribution & Retail industry. While NGVC belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. NGVC has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • In the past year NGVC was profitable.
  • In the past year NGVC had a positive cash flow from operations.
  • NGVC had positive earnings in each of the past 5 years.
  • Each year in the past 5 years NGVC had a positive operating cash flow.
NGVC Yearly Net Income VS EBIT VS OCF VS FCFNGVC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M -20M 40M 60M

1.2 Ratios

  • NGVC has a better Return On Assets (6.93%) than 73.68% of its industry peers.
  • NGVC has a Return On Equity of 21.87%. This is in the better half of the industry: NGVC outperforms 71.05% of its industry peers.
  • With a decent Return On Invested Capital value of 9.59%, NGVC is doing good in the industry, outperforming 73.68% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for NGVC is significantly below the industry average of 28.42%.
  • The 3 year average ROIC (7.59%) for NGVC is below the current ROIC(9.59%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 6.93%
ROE 21.87%
ROIC 9.59%
ROA(3y)5.19%
ROA(5y)4.39%
ROE(3y)18.32%
ROE(5y)16.62%
ROIC(3y)7.59%
ROIC(5y)6.46%
NGVC Yearly ROA, ROE, ROICNGVC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 3.49%, NGVC belongs to the top of the industry, outperforming 81.58% of the companies in the same industry.
  • NGVC's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 4.67%, NGVC belongs to the top of the industry, outperforming 81.58% of the companies in the same industry.
  • In the last couple of years the Operating Margin of NGVC has grown nicely.
  • With a decent Gross Margin value of 29.90%, NGVC is doing good in the industry, outperforming 76.32% of the companies in the same industry.
  • In the last couple of years the Gross Margin of NGVC has grown nicely.
Industry RankSector Rank
OM 4.67%
PM (TTM) 3.49%
GM 29.9%
OM growth 3Y15.15%
OM growth 5Y11.8%
PM growth 3Y21.12%
PM growth 5Y12.59%
GM growth 3Y2.23%
GM growth 5Y1.83%
NGVC Yearly Profit, Operating, Gross MarginsNGVC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NGVC is creating some value.
  • Compared to 1 year ago, NGVC has more shares outstanding
  • Compared to 5 years ago, NGVC has more shares outstanding
  • Compared to 1 year ago, NGVC has a worse debt to assets ratio.
NGVC Yearly Shares OutstandingNGVC Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M 20M
NGVC Yearly Total Debt VS Total AssetsNGVC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M

2.2 Solvency

  • An Altman-Z score of 3.38 indicates that NGVC is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 3.38, NGVC is in line with its industry, outperforming 42.11% of the companies in the same industry.
  • The Debt to FCF ratio of NGVC is 2.08, which is a good value as it means it would take NGVC, 2.08 years of fcf income to pay off all of its debts.
  • NGVC has a better Debt to FCF ratio (2.08) than 81.58% of its industry peers.
  • A Debt/Equity ratio of 0.21 indicates that NGVC is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.21, NGVC is in the better half of the industry, outperforming 68.42% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 2.08
Altman-Z 3.38
ROIC/WACC1.14
WACC8.45%
NGVC Yearly LT Debt VS Equity VS FCFNGVC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M 100M 150M 200M

2.3 Liquidity

  • A Current Ratio of 1.06 indicates that NGVC should not have too much problems paying its short term obligations.
  • NGVC has a Current ratio of 1.06. This is comparable to the rest of the industry: NGVC outperforms 47.37% of its industry peers.
  • NGVC has a Quick Ratio of 1.06. This is a bad value and indicates that NGVC is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.22, NGVC is doing worse than 89.47% of the companies in the same industry.
  • The current and quick ratio evaluation for NGVC is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 1.06
Quick Ratio 0.22
NGVC Yearly Current Assets VS Current LiabilitesNGVC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • NGVC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 31.21%, which is quite impressive.
  • The Earnings Per Share has been growing by 17.84% on average over the past years. This is quite good.
  • NGVC shows a small growth in Revenue. In the last year, the Revenue has grown by 7.19%.
  • NGVC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.12% yearly.
EPS 1Y (TTM)31.21%
EPS 3Y29.08%
EPS 5Y17.84%
EPS Q2Q%13.95%
Revenue 1Y (TTM)7.19%
Revenue growth 3Y6.89%
Revenue growth 5Y5.12%
Sales Q2Q%1.62%

3.2 Future

  • The Earnings Per Share is expected to grow by 7.60% on average over the next years.
  • Based on estimates for the next years, NGVC will show a quite strong growth in Revenue. The Revenue will grow by 10.46% on average per year.
EPS Next Y7.61%
EPS Next 2Y7.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year14.07%
Revenue Next 2Y10.46%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
NGVC Yearly Revenue VS EstimatesNGVC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
NGVC Yearly EPS VS EstimatesNGVC Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2

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Find the best growth stocksShow best growing peers

6

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 12.48 indicates a correct valuation of NGVC.
  • Compared to the rest of the industry, the Price/Earnings ratio of NGVC indicates a rather cheap valuation: NGVC is cheaper than 86.84% of the companies listed in the same industry.
  • NGVC is valuated cheaply when we compare the Price/Earnings ratio to 26.64, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 11.10 indicates a reasonable valuation of NGVC.
  • Based on the Price/Forward Earnings ratio, NGVC is valued cheaply inside the industry as 86.84% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.75, NGVC is valued rather cheaply.
Industry RankSector Rank
PE 12.48
Fwd PE 11.1
NGVC Price Earnings VS Forward Price EarningsNGVC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NGVC is valued cheaply inside the industry as 81.58% of the companies are valued more expensively.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of NGVC is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 24.74
EV/EBITDA 6.5
NGVC Per share dataNGVC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

  • NGVC's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • NGVC has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.64
PEG (5Y)0.7
EPS Next 2Y7.6%
EPS Next 3YN/A

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 2.32%, NGVC has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 0.69, NGVC pays a better dividend. On top of this NGVC pays more dividend than 89.47% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.80, NGVC pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.32%

5.2 History

  • The dividend of NGVC is nicely growing with an annual growth rate of 11.40%!
  • NGVC has been paying a dividend for over 5 years, so it has already some track record.
Dividend Growth(5Y)11.4%
Div Incr Years0
Div Non Decr Years0
NGVC Yearly Dividends per shareNGVC Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

  • 23.70% of the earnings are spent on dividend by NGVC. This is a low number and sustainable payout ratio.
  • The dividend of NGVC is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP23.7%
EPS Next 2Y7.6%
EPS Next 3YN/A
NGVC Yearly Income VS Free CF VS DividendNGVC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M -20M 40M
NGVC Dividend Payout.NGVC Dividend Payout, showing the Payout Ratio.NGVC Dividend Payout.PayoutRetained Earnings

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NATURAL GROCERS BY VITAMIN C

NYSE:NGVC (2/23/2026, 8:04:41 PM)

After market: 26.2 +0.5 (+1.95%)

25.7

+0.59 (+2.35%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupConsumer Staples Distribution & Retail
GICS IndustryConsumer Staples Distribution & Retail
Earnings (Last)02-05
Earnings (Next)05-06
Inst Owners42.11%
Inst Owner Change-7.2%
Ins Owners34.3%
Ins Owner Change0.05%
Market Cap591.87M
Revenue(TTM)1.33B
Net Income(TTM)46.44M
Analysts85.71
Price Target55.08 (114.32%)
Short Float %5.77%
Short Ratio2.75
Dividend
Industry RankSector Rank
Dividend Yield 2.32%
Yearly Dividend0.48
Dividend Growth(5Y)11.4%
DP23.7%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-2.76%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 12.48
Fwd PE 11.1
P/S 0.44
P/FCF 24.74
P/OCF 10.7
P/B 2.79
P/tB 2.95
EV/EBITDA 6.5
EPS(TTM)2.06
EY8.02%
EPS(NY)2.32
Fwd EY9.01%
FCF(TTM)1.04
FCFY4.04%
OCF(TTM)2.4
OCFY9.34%
SpS57.79
BVpS9.22
TBVpS8.71
PEG (NY)1.64
PEG (5Y)0.7
Graham Number20.68
Profitability
Industry RankSector Rank
ROA 6.93%
ROE 21.87%
ROCE 12.14%
ROIC 9.59%
ROICexc 9.93%
ROICexgc 10.17%
OM 4.67%
PM (TTM) 3.49%
GM 29.9%
FCFM 1.8%
ROA(3y)5.19%
ROA(5y)4.39%
ROE(3y)18.32%
ROE(5y)16.62%
ROIC(3y)7.59%
ROIC(5y)6.46%
ROICexc(3y)7.81%
ROICexc(5y)6.66%
ROICexgc(3y)8.02%
ROICexgc(5y)6.84%
ROCE(3y)9.6%
ROCE(5y)8.17%
ROICexgc growth 3Y24.47%
ROICexgc growth 5Y18.99%
ROICexc growth 3Y24.63%
ROICexc growth 5Y18.9%
OM growth 3Y15.15%
OM growth 5Y11.8%
PM growth 3Y21.12%
PM growth 5Y12.59%
GM growth 3Y2.23%
GM growth 5Y1.83%
F-Score7
Asset Turnover1.98
Health
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 2.08
Debt/EBITDA 0.49
Cap/Depr 98.63%
Cap/Sales 2.36%
Interest Coverage 19.9
Cash Conversion 58.88%
Profit Quality 51.51%
Current Ratio 1.06
Quick Ratio 0.22
Altman-Z 3.38
F-Score7
WACC8.45%
ROIC/WACC1.14
Cap/Depr(3y)118.49%
Cap/Depr(5y)112.72%
Cap/Sales(3y)2.94%
Cap/Sales(5y)2.88%
Profit Quality(3y)89.65%
Profit Quality(5y)86.35%
High Growth Momentum
Growth
EPS 1Y (TTM)31.21%
EPS 3Y29.08%
EPS 5Y17.84%
EPS Q2Q%13.95%
EPS Next Y7.61%
EPS Next 2Y7.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)7.19%
Revenue growth 3Y6.89%
Revenue growth 5Y5.12%
Sales Q2Q%1.62%
Revenue Next Year14.07%
Revenue Next 2Y10.46%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y24.84%
EBIT growth 3Y23.09%
EBIT growth 5Y17.53%
EBIT Next Year285.07%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-31.8%
FCF growth 3Y42.6%
FCF growth 5Y-8.31%
OCF growth 1Y-25.02%
OCF growth 3Y11.69%
OCF growth 5Y-3.62%

NATURAL GROCERS BY VITAMIN C / NGVC FAQ

What is the ChartMill fundamental rating of NATURAL GROCERS BY VITAMIN C (NGVC) stock?

ChartMill assigns a fundamental rating of 6 / 10 to NGVC.


What is the valuation status for NGVC stock?

ChartMill assigns a valuation rating of 6 / 10 to NATURAL GROCERS BY VITAMIN C (NGVC). This can be considered as Fairly Valued.


What is the profitability of NGVC stock?

NATURAL GROCERS BY VITAMIN C (NGVC) has a profitability rating of 8 / 10.


What is the earnings growth outlook for NATURAL GROCERS BY VITAMIN C?

The Earnings per Share (EPS) of NATURAL GROCERS BY VITAMIN C (NGVC) is expected to grow by 7.61% in the next year.


Can you provide the dividend sustainability for NGVC stock?

The dividend rating of NATURAL GROCERS BY VITAMIN C (NGVC) is 5 / 10 and the dividend payout ratio is 23.7%.