NGVC

Natural Grocers by Vitamin Cottage, Inc.

Consumer Defensive · $685M market cap

Verdict

Share price

$30.61

close of Oct 3, 2026

Fair value

$23.48

Sticker Price

Payback Price

$9.39

buy price

Overpriced

NGVC is Overpriced: at $30.61 it trades 30% above its fair value of $23.48. Its buy price (Payback Price) is $9.39, 69% below today's price. Business quality is solid: 3 of 5 key numbers clear the 10% bar.

How we valued it

Free Cash Flow. Sales grew 7% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

3 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth11.0% a year✓
Equity per share growth6.6% a year✗
Sales growth12.0% a year✓
Free cash flow growth14.7% a year✓
Return on invested capital6.8%✗

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About Natural Grocers by Vitamin Cottage, Inc.

Natural Grocers by Vitamin Cottage, Inc. (NGVC) operates as a retailer specializing in natural and organic food items and dietary supplements across the United States. Its stores provide an extensive array of natural and organic groceries, including fresh produce and bulk foods. The comprehensive grocery selection spans dry, frozen, and canned goods; fresh meats and seafood; dairy products and their plant-based…

Grocery Stores

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works