What is NGVC's Value Score?

Natural Grocers by Vitamin Cottage, Inc. Common Stock (NGVC) has a StockPik Value Score of 100 out of 100 — a high score, indicating strong value characteristics across multiple metrics. The Value Score is a composite ranking built from P/E ratio, P/B ratio, Graham Number, ROE, gross margin, debt-to-equity, current ratio, and Piotroski F-Score, calculated from SEC EDGAR annual filing data.

What is NGVC's Piotroski F-Score?

Natural Grocers by Vitamin Cottage, Inc. Common Stock (NGVC) has a Piotroski F-Score of 8 out of 9 — a strong score indicating the company is financially improving across most criteria. The F-Score assesses nine binary financial criteria across profitability, leverage, and operating efficiency. A score of 7–9 indicates a financially improving company; a score of 0–3 is a warning sign.

Is NGVC trading below its Graham Number?

NGVC is currently trading above its Graham Number. The stock price of $28.76 exceeds the Graham Number of $22, meaning it does not meet Graham's criterion for a margin of safety at the current price. The Graham Number is calculated as √(22.5 × EPS × Book Value Per Share) and represents Benjamin Graham's ceiling price for a defensive investor.

What is NGVC's Graham Number?

NGVC's Graham Number is $22.00, calculated using the Benjamin Graham formula √(22.5 × EPS × Book Value per Share). The Graham Number is an estimate of intrinsic value — the maximum price a defensive investor should pay. At the current price of $28.76, NGVC is trading 31% above its Graham Number.

What is NGVC's Piotroski F-Score?

NGVC's Piotroski F-Score is 8 out of 9, indicating strong financial health and improving fundamentals. The Piotroski F-Score evaluates nine criteria across profitability, leverage, and operating efficiency. Scores of 7 or above are considered strong; 3 or below indicate financial weakness.

What is NGVC's P/E ratio?

NGVC's trailing P/E ratio is 13.4x — a reasonable earnings multiple. The Consumer Defensive sector average P/E is 25.2x. Compare against other Consumer Defensive stocks in the StockPik screener.

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Natural Grocers by Vitamin Cottage, Inc. Common Stock (NGVC)

NYSE Small Cap

Consumer Defensive › Retail-Grocery Stores

$28.76

Market Cap: $663M

Data as of Mar 31, 2026 (TTM)

Price History

Feb 9, 2026 — May 24, 2026

Investment Snapshot

Trading 31% above Graham Number — above intrinsic value estimate
Piotroski F-Score 8/9 — financially strong with improving fundamentals
ROE of 21.4% — good return on equity
Revenue growing at 7% annually

Natural Grocers by Vitamin Cottage, Inc. Common Stock (NGVC) is a Consumer Defensive company operating in Retail-Grocery Stores, listed on the NYSE , with a market capitalisation of $663 million . Key value metrics: P/E ratio 13.4, P/B ratio 2.87, Piotroski F-Score 8 out of 9 (strong financial health) .

Value Score

100

out of 100

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Key Metrics

P/E Ratio

13.39

P/B Ratio

2.87

EPS

$2.15

Div. Yield

—

PEG Ratio

—

P/S Ratio

—

EV/EBITDA

—

ROE

—

ROA

—

Gross Margin

—

Op. Margin

—

Net Margin

—

Debt/Equity

—

Current Ratio

—

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Current vs 5-Year Average

Based on 5 years of SEC filings

Net Margin

—

↑ +2.1pp avg —

Gross Margin

—

↑ +2.1pp avg —

Operating Margin

—

↑ +2.1pp avg —

Return on Equity

—

↑ +2.1pp avg —

Debt / Equity

—

↑ +2.1pp avg —

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Revenue & Net Income

Profit Margins

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EPS & Free Cash Flow Per Share

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Financial Statements

Metric	FY22	FY23	FY24
Revenue	$X.XB	$X.XB	$X.XB
Gross Profit	$X.XB	$X.XB	$X.XB
Operating Income	$X.XB	$X.XB	$X.XB
Net Income	$X.XB	$X.XB	$X.XB
EBITDA	$X.XB	$X.XB	$X.XB
Total Assets	$X.XB	$X.XB	$X.XB
Total Liabilities	$X.XB	$X.XB	$X.XB

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Data sourced from SEC EDGAR and Polygon.io. Methodology. View more Consumer Defensive stocks →

Natural Grocers by Vitamin Cottage, Inc. Common Stock — Fundamental Analysis Summary

Natural Grocers by Vitamin Cottage, Inc. Common Stock (NGVC) is currently trading 31% above its Graham Number of $22.00, suggesting the market price exceeds Benjamin Graham's intrinsic value estimate. The stock carries a reasonable trailing P/E ratio of 13.4x.

On financial health, NGVC shows a strong Piotroski F-Score of 8/9, indicating improving fundamentals across profitability, leverage, and efficiency, and strong return on equity of 21.4% (sector average: 4.9%), and minimal leverage with a debt-to-equity ratio of 0.01.

StockPik's composite Value Score for NGVC is 100/100 — placing it in undervalued territory. The score is built from ten fundamental signals: P/E, P/B, PEG ratio, P/S ratio, return on equity, gross margin, debt-to-equity, current ratio, dividend yield, and Piotroski F-Score.

NGVC reports a moderate gross margin of 30.0% (sector average: 24.8%) and a modest operating margin of 4.9%.

NGVC shows revenue growing at 7% year-over-year, with earnings growing at 37%.

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CALM	Cal-Maine Foods, Inc. - Common Stock	$76.25	4.2	100
DDS	Dillard's, Inc. Common Stock	$531.00	0.0	100
VLGEA	Village Super Market, Inc. - Class A Common Stock	$45.17	3.3	100
IPST	IP Strategy Holdings, Inc. - Common Stock	$0.46	0.0	100
VFF	Village Farms International, Inc. - Common Shares	$2.61	9.1	100

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High Piotroski F-Score stocks

Other stocks with F-Score ≥ 7 showing broad financial improvement

How is the Value Score calculated?

Read our full methodology →

How is the Graham Number calculated?

Benjamin Graham's intrinsic value formula, worked examples, and how to use it →

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