Natural Historical Financial Statements

Stocks . USA . 
Stock . Natural Grocers by
NGVC Stock  USD 25.51  0.31  1.23%   
Analyzing Natural Grocers's margins, turnover ratios, and leverage metrics provides a structured basis for estimating its future earning power. Key fundamentals are provided below:
 Gross Profit
445.4 M
 Profit Margin
0.0331
 Market Capitalization
730.4 M
 Enterprise Value Revenue
0.6716
 Revenue
1.3 B
The one hundred twenty fundamental trends available for Natural Grocers by cover valuation, profitability, and capital structure dimensions. Evaluating Natural Grocers' most recent numbers in the context of performance from 2010 to 2026 helps distinguish cyclical fluctuations from structural shifts. According to data available as of March 2026, Enterprise Value is projected to grow to approximately 958.1 M, although Market Cap may weaken to about 422.1 M.
Currently, Total Revenue is projected to increase significantly based on multi-year reporting trends. The baseline from the prior year shows Total Revenue at 1.53 Billion. According to data available as of March 2026, Gross Profit is anticipated to decline to approximately 233.7 M. In addition to that, Pretax Profit Margin is anticipated to decline to 0.03.

Natural Grocers Total Revenue

823.84 Million
Financial data for Natural Grocers includes Depreciation And Amortization of 24.5 M, Interest Expense of 2.9 M or Selling General Administrative of 29.9 M across recent filings. Supporting ratios include Price To Sales Ratio of 0.89, Dividend Yield of 0.0131 or PTB Ratio of 7.67, with additional perspective from Natural Grocers Valuation and Volatility.
  
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The Natural Grocers Correlation reference frames Natural Grocers against competitors. The view supports competitor context.

Balance Sheet Accounts

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Common Stock Shares Outstanding24.9 M26.7 M23 M
Slightly volatile
Total Assets416.6 M771.1 M421.6 M
Slightly volatile
Short and Long Term Debt Total400.9 M381.8 M197.5 M
Slightly volatile
Total Current Liabilities98.3 M182.6 M98.6 M
Slightly volatile
Total Stockholder Equity136.8 M244.3 M138.7 M
Slightly volatile
Other Liabilities19.4 M16.6 M17.9 M
Pretty Stable
Property Plant And Equipment Net294 M558 M299.2 M
Slightly volatile
Retained Earnings180.3 M171.7 M90.3 M
Slightly volatile
Accounts Payable59.3 M93.1 M58.7 M
Slightly volatile
Cash11.6 M19.7 M11.8 M
Slightly volatile
Non Current Assets Total303 M577.8 M308.5 M
Slightly volatile
Other Assets929.1 K474.9 K777.7 K
Pretty Stable
Long Term Debt6.5 M6.8 M17.4 M
Slightly volatile
Cash And Short Term Investments11.8 M19.7 M11.9 M
Slightly volatile
Net Receivables14.4 M13.8 M7.2 M
Slightly volatile
Good Will4.1 M6 M4.1 M
Slightly volatile
Liabilities And Stockholders Equity416.6 M771.1 M421.6 M
Slightly volatile
Non Current Liabilities Total181.3 M344.2 M184.3 M
Slightly volatile
Inventory91.4 M152.9 M90.8 M
Slightly volatile
Other Current Assets3.8 M6.9 M3.8 M
Slightly volatile
Other Stockholder Equity76.7 M56.7 M93.4 M
Pretty Stable
Total Liabilities279.5 M526.8 M282.9 M
Slightly volatile
Property Plant And Equipment Gross945.8 M900.8 M371 M
Slightly volatile
Total Current Assets113.6 M193.3 M113.2 M
Slightly volatile
Short Term Debt49 M46.6 M24.6 M
Slightly volatile
Intangible Assets7.9 M7.5 M3.9 M
Slightly volatile
Common Stock19.7 K20.7 K67.8 K
Slightly volatile
Property Plant Equipment606.3 M577.4 M297.8 M
Slightly volatile
Common Stock Total Equity24.9 K26.4 K23.1 K
Slightly volatile
Net Tangible Assets145.4 M180.2 M133.1 M
Slightly volatile
Retained Earnings Total Equity91.7 M112.4 M81.9 M
Slightly volatile
Long Term Debt Total50.9 M65.7 M47.3 M
Slightly volatile
Capital Surpluse61.5 M66.8 M57 M
Slightly volatile
Short and Long Term Debt1.5 M1.6 M14.9 M
Slightly volatile
Non Current Liabilities Other446.3 M425 M203.6 M
Slightly volatile
Capital Lease Obligations259.1 M381.8 M185.7 M
Slightly volatile
Net Invested Capital190.8 M244.3 M174.7 M
Slightly volatile
Capital Stock18.4 K20.7 K22.6 K
Slightly volatile

Income Statement

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Depreciation And Amortization24.5 M36.6 M25 M
Slightly volatile
Interest Expense2.9 M3.5 M2.9 M
Slightly volatile
Selling General Administrative29.9 M47.6 M27.7 M
Slightly volatile
Total Revenue823.8 M1.5 B858.5 M
Slightly volatile
Gross Profit233.7 M457.6 M244.6 M
Slightly volatile
Other Operating Expenses797.8 M1.5 B830.1 M
Slightly volatile
Operating Income74.9 M71.3 M31.3 M
Slightly volatile
EBITDA113.3 M107.9 M52.1 M
Slightly volatile
Cost Of Revenue590.2 M1.1 B613.9 M
Slightly volatile
Total Operating Expenses207.7 M386.3 M216.2 M
Slightly volatile
Income Before Tax71.2 M67.8 M28.3 M
Slightly volatile
Net Income56.1 M53.4 M21.5 M
Slightly volatile
Net Income Applicable To Common Shares14.2 M26.7 M15.5 M
Slightly volatile
Minority Interest832.5 K745.2 K844.6 K
Slightly volatile
Selling And Marketing Expenses260.6 M377.1 M284.5 M
Slightly volatile
Net Income From Continuing Ops56.1 M53.4 M22.2 M
Slightly volatile
Non Recurring946.5 K996.3 K2.3 M
Slightly volatile
Interest Income4.3 M5.7 M4.2 M
Slightly volatile
Reconciled Depreciation32.8 M36.6 M30.3 M
Slightly volatile
Extraordinary Items3.4 M3.9 M4.2 M
Slightly volatile

Cash Flow Statement Items

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Stock Based Compensation4.8 M4.6 M1.6 M
Slightly volatile
Begin Period Cash Flow10.2 M10.2 M10.3 M
Slightly volatile
Depreciation24.2 M36.6 M24.8 M
Slightly volatile
Capital Expenditures34.2 M35.9 M33.3 M
Pretty Stable
Total Cash From Operating Activities42.9 M63.6 M43.9 M
Slightly volatile
Net Income56.1 M53.4 M21.7 M
Slightly volatile
End Period Cash Flow11.1 M19.7 M11.8 M
Slightly volatile

Financial Ratios

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Price To Sales Ratio0.890.790.7132
Slightly volatile
Dividend Yield0.01310.01380.0377
Very volatile
PTB Ratio7.674.975.6759
Slightly volatile
Days Sales Outstanding3.153.772.7836
Slightly volatile
Book Value Per Share4.428.335.9022
Slightly volatile
Operating Cash Flow Per Share1.382.171.8735
Slightly volatile
Stock Based Compensation To Revenue0.00280.00270.0016
Slightly volatile
Capex To Depreciation1.821.131.5517
Slightly volatile
PB Ratio7.674.975.6759
Slightly volatile
EV To Sales0.981.060.8594
Slightly volatile
ROIC0.08110.10.0748
Slightly volatile
Inventory Turnover5.316.316.5627
Pretty Stable
Net Income Per Share1.911.820.8859
Slightly volatile
Days Of Inventory On Hand60.8659.8255.7544
Slightly volatile
Payables Turnover11.5313.2510.6415
Slightly volatile
Sales General And Administrative To Revenue0.04760.03580.0434
Slightly volatile
Average Inventory119.8 M114.1 M109.8 M
Slightly volatile
Capex To Revenue0.02560.0270.0446
Slightly volatile
Cash Per Share0.380.670.5062
Slightly volatile
POCF Ratio16.8619.0812.9664
Slightly volatile
Interest Coverage19.1318.2111.2484
Slightly volatile
Payout Ratio0.260.270.4806
Pretty Stable
Capex To Operating Cash Flow1.020.650.8692
Slightly volatile
Days Payables Outstanding38.5936.4435.5829
Very volatile
Income Quality1.31.372.6707
Slightly volatile
ROE0.170.250.1501
Very volatile
EV To Operating Cash Flow18.9325.6317.3198
Slightly volatile
PE Ratio21.5822.7232.859
Slightly volatile
Return On Tangible Assets0.0530.08110.0506
Pretty Stable
Earnings Yield0.03470.04560.047
Slightly volatile
Intangibles To Total Assets0.01350.01580.0169
Slightly volatile
Current Ratio1.381.221.2641
Slightly volatile
Tangible Book Value Per Share4.177.875.5723
Slightly volatile
Receivables Turnover162128152
Slightly volatile
Graham Number19.4118.4910.8524
Slightly volatile
Shareholders Equity Per Share4.418.335.8979
Slightly volatile
Debt To Equity0.981.411.1895
Slightly volatile
Capex Per Share1.11.221.4304
Very volatile
Average Receivables2.3 M2.6 M2.8 M
Slightly volatile
Revenue Per Share26.5452.2236.5096
Slightly volatile
Interest-Bearing Debt Per Share13.8113.158.3814
Slightly volatile
Debt To Assets0.260.450.3305
Slightly volatile
Enterprise Value Over EBITDA17.6315.1115.3606
Slightly volatile
Short Term Coverage Ratios2.022.1349.2181
Slightly volatile
Price Earnings Ratio21.5822.7232.859
Slightly volatile
Operating Cycle64.0163.658.5386
Pretty Stable
Price Book Value Ratio7.674.975.6759
Slightly volatile
Days Of Payables Outstanding38.5936.4435.5829
Very volatile
Dividend Payout Ratio0.260.270.4806
Pretty Stable
Price To Operating Cash Flows Ratio16.8619.0812.9664
Slightly volatile
Pretax Profit Margin0.03190.05090.0303
Very volatile
Ebt Per Ebit0.70.860.8548
Very volatile
Operating Profit Margin0.03610.05360.0341
Very volatile
Company Equity Multiplier2.542.842.9841
Pretty Stable
Long Term Debt To Capitalization0.510.480.2756
Slightly volatile
Total Debt To Capitalization0.360.550.4412
Slightly volatile
Return On Capital Employed0.120.140.1107
Slightly volatile
Debt-to-Equity Ratio0.981.411.1895
Slightly volatile
Ebit Per Revenue0.03610.05360.0341
Very volatile
Quick Ratio0.260.250.2458
Pretty Stable
Dividend Paid And Capex Coverage Ratio0.861.181.0988
Pretty Stable
Net Income Per E B T0.570.710.7239
Slightly volatile
Cash Ratio0.140.120.1325
Pretty Stable
Cash Conversion Cycle25.4227.1622.9557
Pretty Stable
Operating Cash Flow Sales Ratio0.05890.04780.0541
Slightly volatile
Days Of Inventory Outstanding60.8659.8255.7544
Slightly volatile
Days Of Sales Outstanding3.153.772.7836
Slightly volatile
Cash Flow Coverage Ratios0.180.190.767
Slightly volatile
Price To Book Ratio7.674.975.6759
Slightly volatile
Fixed Asset Turnover4.373.153.8031
Slightly volatile
Capital Expenditure Coverage Ratio1.021.61.3421
Slightly volatile
Price Cash Flow Ratio16.8619.0812.9664
Slightly volatile
Enterprise Value Multiple17.6315.1115.3606
Slightly volatile
Debt Ratio0.260.450.3305
Slightly volatile
Cash Flow To Debt Ratio0.180.190.767
Slightly volatile
Price Sales Ratio0.890.790.7132
Slightly volatile
Return On Assets0.05230.07970.0498
Pretty Stable
Asset Turnover2.672.282.38
Slightly volatile
Net Profit Margin0.01590.03140.0207
Slightly volatile
Gross Profit Margin0.320.340.2895
Slightly volatile
Price Fair Value7.674.975.6759
Slightly volatile
Return On Equity0.170.250.1501
Very volatile

Valuation Indicators

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Market Cap422.1 M777.6 M424.5 M
Very volatile
Enterprise Value958.1 M912.4 M606.8 M
Slightly volatile

Core Fundamental Drivers

Forward Price Earnings31.0559
Cash And Short Term Investments17.1 M

Methodology, Assumptions & Data Sources

The reference series for Natural Grocers' financial metrics captures how this indicator has evolved across different reporting cycles. Natural Grocers has a market cap of 730.4 M, P/E of 10.25, ROE of 23.58%.

For Natural Grocers by, this section uses periodic company reporting and market reference feeds with Macroaxis normalization rules applied to keep cross-asset comparisons consistent. Analyst inputs may be included when coverage is available. Intraday timing differences may exist. This section presents reference data and historical patterns only and does not constitute an investment recommendation or advice.

This content is curated and reviewed by:

Ellen Johnson - Member of Macroaxis Editorial Board
Last reviewed on February 28th, 2026
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