Natural Grocers by Vitamin Cottage (NGVC) Operating Expenses (2011 - 2026)
Natural Grocers by Vitamin Cottage (NGVC) reported Operating Expenses of $79 million for fiscal Q3 2026 (quarter ended Jun 30, 2026), up 0.9% from $78.29 million a year earlier but down 0.3% from the prior quarter.
Natural Grocers by Vitamin Cottage (NGVC) Operating Expenses (2011 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Natural Grocers by Vitamin Cottage's Operating Expenses came in at $315.93 million, up 27.4% year-over-year; for FY2025 (ended Sep 30, 2025), it came in at $316.66 million, up 6.8% from FY2024.
- Operating Expenses has increased for 14 consecutive fiscal years, with a five-year compound annual growth rate of 63.9% (FY2020 to FY2025).
- By fiscal year, Operating Expenses came in at $296.39 million in FY2024 (+8.1%), $274.17 million in FY2023 (+768.7%), $31.56 million in FY2022 (+11.3%) and $28.36 million in FY2021 (+5.9%).
- Five-year quarterly Operating Expenses spans a low of $7.29 million in fiscal Q1 2022 and a high of $80.33 million in fiscal Q1 2025.
- Year over year, Operating Expenses gained in seven of the last eight quarters, with growth averaging 359.9%.
- The high point for year-over-year Operating Expenses in five years was fiscal Q1 2025 (growth of 754.0%); the low point was fiscal Q1 2026 (a decline of 1.9%).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at $79.28 million (Q2 2026), $78.81 million (Q1 2026) and $78.84 million (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Walmart | 847.32 Bn | 810.03 Bn | 49.13 Bn | 39.75 Bn |
| 2 | Costco Wholesale | 410.07 Bn | 339.37 Bn | 9.01 Bn | 6.19 Bn |
| 3 | Sysco | 37.60 Bn | 31.85 Bn | 4.13 Bn | 3.15 Bn |
| 4 | Kroger | 35.90 Bn | 22.05 Bn | 7.86 Bn | 198.00 Mn |
| 5 | Dollar General | 27.06 Bn | 21.73 Bn | 3.68 Bn | 2.91 Bn |
| 6 | Caseys General Stores | 22.17 Bn | 20.17 Bn | 1.24 Bn | 754.11 Mn |
| 7 | Dollar Tree | 21.26 Bn | 17.89 Bn | 2.10 Bn | 1.43 Bn |
| 8 | US Foods Holding | 20.27 Bn | 20.07 Bn | 1.92 Bn | 1.48 Bn |
| 9 | Tractor Supply | 16.44 Bn | 15.61 Bn | 1.68 Bn | 1.02 Bn |
| 10 | Natural Grocers by Vitamin Cottage | 700.36 Mn | 621.85 Mn | 98.01 Mn | 79.00 Mn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 79.00 Mn |
| Mar 31, 2026 | 79.28 Mn |
| Dec 31, 2025 | 78.81 Mn |
| Sep 30, 2025 | 78.84 Mn |
| Jun 30, 2025 | 78.29 Mn |
| Mar 31, 2025 | 79.20 Mn |
| Dec 31, 2024 | 80.33 Mn |
| Sep 30, 2024 | 10.24 Mn |
| Jun 30, 2024 | 9.55 Mn |
| Mar 31, 2024 | 9.52 Mn |
| Dec 31, 2023 | 9.41 Mn |
| Sep 30, 2023 | 9.81 Mn |
| Jun 30, 2023 | 9.31 Mn |
| Mar 31, 2023 | 8.61 Mn |
| Dec 31, 2022 | 8.25 Mn |
| Sep 30, 2022 | 8.64 Mn |
| Jun 30, 2022 | 7.46 Mn |
| Mar 31, 2022 | 8.17 Mn |
| Dec 31, 2021 | 7.29 Mn |
| Sep 30, 2021 | 7.42 Mn |
Natural Grocers by Vitamin Cottage Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=NGVC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "NGVC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=NGVC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();