Natural Grocers by Vitamin Cottage, Inc.

NGVCNYSEConsumer Defensive● Active

$29.77

$-0.33(-1.10%)

Market Cap$685924199

P/E Ratio—

52W High$45.98

52W Low$23.47

Avg Volume132K

Open$29.80

Beta1.29

Free Cash Flow Financials Revenue

Natural Grocers by Vitamin Cottage, Inc. (NGVC) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

NGVC · free cash flow · updated Jun 8, 2026

Core FCF metrics

NGVC · FCF · TTM · margin & CAGR

Free cash flow was $24.1M for FY2025 (fiscal year ending 2025-09-30), down 31.3% year-over-year The FCF margin was 1.8%. Five-year CAGR stands at -8.2%.

FY2025 Free Cash Flow$24.1M▼ -31.3% YoY

Trailing 12M (TTM)$51.3Mtrailing 4 quarters sum

FCF Margin1.8%$24.1M ÷ revenue

3-Year CAGR+43.0%FY2022 → FY2025

5-Year CAGR-8.2%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

NGVC · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$55.3M(31M)$24.1M▼ 31.3%1.8%

FY2024$73.8M(39M)$35.1M▲ +32.3%2.8%

FY2023$64.6M(38M)$26.5M▲ +221.4%2.3%

FY2022$39.7M(31M)$8.2M▼ 67.8%0.8%

FY2021$53.9M(28M)$25.6M▼ 30.7%2.4%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

NGVC · P/FCF · FCF yield · FCF per share

Natural Grocers by Vitamin Cottage, Inc. (NGVC) trades at a FCF yield of 7.48% and a price-to-free-cash-flow ratio of 13.3x. FCF per share stands at $2.24, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

7.48%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$2.24

TTM FCF ÷ Shares Outstanding

Price / FCF

x13.3

Share Price ÷ FCF per Share

EV / FCF (TTM)

x19.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-09-30

Cash flow statement summary

NGVC · cash flow statement · operating / investing / financing

For FY2025, Natural Grocers by Vitamin Cottage, Inc. generated $55.3M in operating cash flow and spent 31M in capital expenditures, yielding $24.1M in free cash flow.

Operating Activities

+$55.3M

Cash from core business operations

2025-09-30

Investing Activities

−$31.0M

CapEx, acquisitions & investments

2025-09-30

Financing Activities

−$16.1M

Buybacks, dividends & debt

2025-09-30

FCF FormulaOperating CF ($55.3M) − |CapEx| (31M) = FCF ($24.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Defensive)

NGVC vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Natural Grocers by Vitamin Cottage, Inc.YOU

NGVC

$24.1M-31.3%1.8%

The Procter & Gamble Company

$14.04B-15.0%16.7%

94%

Philip Morris International Inc.

$10.66B-1.0%26.2%

71%

Costco Wholesale Corporation

COST

$7.84B+18.2%2.8%

53%

The Coca-Cola Company

$5.30B+11.7%11.0%

35%

Consumer Defensive · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Natural Grocers by Vitamin Cottage, Inc. (NGVC) reported free cash flow of $24.1M for FY2025 (fiscal year ending 2025-09-30), down 31.3% year-over-year. The FCF margin was 1.8%.

Based on available data, Natural Grocers by Vitamin Cottage, Inc. has maintained positive free cash flow for at least 9 fiscal year(s). FCF peaked at $36.9M in FY2020. The 5-year CAGR stands at -8.2%.

Natural Grocers by Vitamin Cottage, Inc.'s FCF yield is 7.48% and price-to-FCF ratio is 13.3x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

NGVC free cash flow · 8 questions

Natural Grocers by Vitamin Cottage, Inc. free cash flow was $24.1M for FY2025, down 31.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $51.3M.

NGVC free cash flowNGVC FCFNGVC FCF 2025NGVC free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Natural Grocers by Vitamin Cottage, Inc. · Natural Grocers by Vitamin Cottage, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026