Natural Grocers by Vitamin CottageNGVC -0.33%86 Earnings Yield (Joel Greenblatt) % is 7.10% as of Mar. 2026, which is 51% above its 10-year median of 4.69. GuruFocus rates NGVC with a GF Score™ of 86/100 and a GF Value™ of $27.34 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 316 Retail - Defensive companies, Natural Grocers by Vitamin Cottage ranks worse than 52.53% on this metric.
The historical rank and industry rank for Natural Grocers by Vitamin Cottage's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
NGVC'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.4 Med: 4.69 Max: 8.61
Current: 6.01
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Natural Grocers by Vitamin Cottage was 8.61%. The lowest was 2.40%. And the median was 4.69%.
NGVC's Earnings Yield (Joel Greenblatt) % is ranked worse than 52.53% of 316
companies
in the Retail - Defensive industry
Industry Median: 6.245
vs NGVC: 6.01
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Natural Grocers by Vitamin Cottage's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 15.89%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Grocery Stores subindustry, Natural Grocers by Vitamin Cottage's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Natural Grocers by Vitamin Cottage Earnings Yield (Joel Greenblatt) % vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Natural Grocers by Vitamin Cottage's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Natural Grocers by Vitamin Cottage's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Natural Grocers by Vitamin Cottage's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $64 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 7.10% mean?
Natural Grocers by Vitamin Cottage (NGVC) has a Earnings Yield (Joel Greenblatt) % of 7.10% as of Mar. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Natural Grocers by Vitamin Cottage and its competitors. This is 51% above median its historical median of 4.69. Over the past decade, Natural Grocers by Vitamin Cottage's Earnings Yield (Joel Greenblatt) % has ranged from 2.40 to 8.61. According to the industry distribution chart, Natural Grocers by Vitamin Cottage ranks #166 out of 316 companies in the Retail - Defensive industry, placing it in the top 52.5%.
Is Natural Grocers by Vitamin Cottage's Earnings Yield (Joel Greenblatt) % too high?
Natural Grocers by Vitamin Cottage's current Earnings Yield (Joel Greenblatt) % of 7.10% is 51% above median its 10-year median of 4.69. Over the past 10 years, this metric has ranged from a low of 2.40 to a high of 8.61. The Retail - Defensive industry median Earnings Yield (Joel Greenblatt) % is 6.25. Natural Grocers by Vitamin Cottage's value of 7.10% is 13.7% above this industry median. Based on the distribution chart, Natural Grocers by Vitamin Cottage ranks #166 out of 316 companies in the Retail - Defensive industry, which is below the industry midpoint. Overall, Natural Grocers by Vitamin Cottage has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Natural Grocers by Vitamin Cottage's Earnings Yield (Joel Greenblatt) % compare to YSWY and VLGEA?
According to the Retail - Defensive industry distribution chart, Natural Grocers by Vitamin Cottage ranks #166 out of 316 companies for Earnings Yield (Joel Greenblatt) %. This places Natural Grocers by Vitamin Cottage in the lower half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 6.25. Natural Grocers by Vitamin Cottage's value of 7.10% is 13.7% above this benchmark. Historically, Natural Grocers by Vitamin Cottage's own Earnings Yield (Joel Greenblatt) % has ranged from 2.40 to 8.61 over the past decade. While the company's 10-year median is 4.69 vs. the industry median of 6.25, Natural Grocers by Vitamin Cottage has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for a Retail - Defensive company?
The median Earnings Yield (Joel Greenblatt) % among Retail - Defensive companies is 6.25, based on 316 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Natural Grocers by Vitamin Cottage's current Earnings Yield (Joel Greenblatt) % of 7.10% is 13.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Natural Grocers by Vitamin Cottage and its competitors. For the Retail - Defensive industry, the median Earnings Yield (Joel Greenblatt) % is 6.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Natural Grocers by Vitamin Cottage's current Earnings Yield (Joel Greenblatt) % is 7.10%, which is 51% above median its own 10-year median of 4.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Natural Grocers by Vitamin Cottage stock overvalued right now?
Based on GuruFocus' analysis, Natural Grocers by Vitamin Cottage (NGVC) is currently considered Modestly Overvalued. The stock's GF Value™ is $27.34, compared to a current price of $32.89 — trading 20.3% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 7.10%, which is 51% above median its 10-year median of 4.69 and 13.7% above the Retail - Defensive industry median of 6.25. Natural Grocers by Vitamin Cottage's overall GF Score™ is 86/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Natural Grocers by Vitamin Cottage (NGVC), the current Earnings Yield (Joel Greenblatt) % is 7.10% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Natural Grocers by Vitamin Cottage (NGVC) Overvalued in 2026?
Based on GuruFocus' analysis, Natural Grocers by Vitamin Cottage stock appears to be overvalued.
The current stock price of $32.89 is trading 20.3% above its estimated GF Value™ of $27.34.
GuruFocus considers Natural Grocers by Vitamin Cottage to be Modestly Overvalued.
Key valuation signals for NGVC:
Earnings Yield (Joel Greenblatt) %: 7.10% (51% above median its 10-year median of 4.69)
GF Value™: $27.34 vs. price of $32.89 (20.3% above fair value)
Industry Position: 13.7% above the Retail - Defensive median (#166 of 316)
No single metric tells the full story. See the NGVC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Natural Grocers by Vitamin Cottage Business Description
Natural Grocers by Vitamin Cottage Inc operates natural and organic grocery and dietary supplement stores. It offers the following product categories: natural and organic food, dietary supplements, natural body care, household, pet care products, books, and handouts. The Company has a single reporting segment, natural and organic retail stores, through which business is conducted. The company generates the majority of its revenue from grocery products and dietary supplements, and the rest from other products.
86GF Score
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