Natural Grocers by Vitamin Cottage, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.33B | $1.24B | $1.14B | $1.09B | $1.06B | $1.04B | $903.6M | $849.0M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | $397.9M | $364.8M | $326.9M | $304.9M | $292.2M | $283.1M | $238.8M | $225.6M |
| Gross Margin | 29.9% | 29.4% | 28.7% | 28.0% | 27.7% | 27.3% | 26.4% | 26.6% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $44.4M | $38.7M | $36.0M | $31.6M | $28.4M | $26.8M | $22.8M | $21.5M |
| Operating Income | $62.0M | $47.0M | $31.7M | $30.2M | $28.3M | $27.7M | $16.8M | $15.1M |
| Operating Margin | 4.7% | 3.8% | 2.8% | 2.8% | 2.7% | 2.7% | 1.9% | 1.8% |
| Interest Expense | $3.1M | $4.2M | $3.3M | $2.4M | $2.3M | $2.0M | $5.0M | $4.6M |
| Pretax Income | $58.9M | $42.8M | $28.4M | $27.8M | $26.1M | $25.7M | $11.8M | $10.5M |
| Income Tax Expense | $12.5M | $8.9M | $5.1M | $6.4M | $5.5M | $5.7M | $2.4M | $-2.2M |
| Net Income | $46.4M | $33.9M | $23.2M | $21.4M | $20.6M | $20.0M | $9.4M | $12.7M |
| Net Margin | 3.5% | 2.7% | 2.0% | 2.0% | 1.9% | 1.9% | 1.0% | 1.5% |
| EPS (Basic) | $2.02 | $1.49 | $1.02 | $0.94 | $0.91 | $0.89 | $0.42 | $0.57 |
| EPS (Diluted) | $2.00 | $1.47 | $1.02 | $0.94 | $0.91 | $0.89 | $0.42 | $0.56 |
| Shares Outstanding (Basic) | 22.9M | 22.8M | 22.7M | 22.7M | 22.6M | 22.5M | 22.4M | 22.4M |
| Shares Outstanding (Diluted) | 23.3M | 23.1M | 22.8M | 22.8M | 22.7M | 22.6M | 22.6M | 22.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |