Natural Grocers by Vitamin CottageNGVC +1.60%86 Intrinsic Value: DCF (Dividends Based) is $33.54 as of Jul. 08, 2026, which is 3156% above its 10-year median of 1.03. GuruFocus rates NGVC with a GF Score™ of 86/100 and a GF Value™ of $27.33 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 66 Retail - Defensive companies, Natural Grocers by Vitamin Cottage ranks better than 50% on this metric.
Note: Discounted Dividend model is only suitable for companies who have a consistant distribution history. If the company's dividends does not remain steady over a long period, results may not be accurate due to the low consistency. The model is also only suitable for predictable companies (Business Predictability Rank higher than 1-Star) with dividend payments. If the company's Predictability Rank is 1-Star or Not Rated, or if the company does not pay dividend, the data will not be stored into our database.
The historical rank and industry rank for Natural Grocers by Vitamin Cottage's Intrinsic Value: DCF (Dividends Based) or its related term are showing as below:
NGVC'
s Price-to-DCF (Dividends Based) Range Over the Past 10 Years
Min: 0.69 Med: 1.03 Max: 1.71
Current: 1.01
During the past 13 years, the highest Price-to-Intrinsic-Value-DCF (Dividends Based) Ratio of Natural Grocers by Vitamin Cottage was 1.71. The lowest was 0.69. And the median was 1.03.
NGVC's Price-to-DCF (Dividends Based) is ranked better than 50% of 66
companies
in the Retail - Defensive industry
Industry Median: 1.02
vs NGVC: 1.01
What you need to know about Discounted Dividends model:
1. The Discounted Dividends model evaluates a company based on its future dividends distribution power
2. Dividend growth is taken into account; therefore a company with a higher dividend growth rate is worth more if everything else is the same.
3. Since we are projecting future growth, it is assumed that the company will grow at the same rate as it did during the past 10 years. Therefore this model works better for the companies with consistently steady dividends distributed.
4. The Discounted Dividends model works poorly for inconsistent dividends distributor like high growth companies.
5. Your expected return from the investment is a reasonable discount rate assumption.
6. A larger margin of safety should be required for companies with less dividends distributed.
* 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 Price-to-DCF (Dividends Based), along with its competitors' market caps and Price-to-DCF (Dividends Based) 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 Price-to-DCF (Dividends Based) vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Natural Grocers by Vitamin Cottage's Price-to-DCF (Dividends Based) distribution charts can be found below:
* The bar in red indicates where Natural Grocers by Vitamin Cottage's Price-to-DCF (Dividends Based) falls into.
This is the intrinsic value calculated from the Discounted Dividend Model with default parameters. The calculation method is the same as Discounted Cash Flow model except adjusted dividend are used in the calculation instead of free cash flow. This is the default method of calculation with GuruFocus DCF calculator.
Usually a two-stage model is used in calculating the intrinsic value with discounted cash flow model. The first stage is called growth stage; the second is called the terminal stage. In the growth stage the company grows at a faster rate. Because it cannot grow at that rate forever, a lower rate is used for the terminal stage.
GuruFocus DDM calculator is a two-stage model. The default values are defined as:
1. Discount Rate: d = 11% A reasonable discount rate assumption should be at least the long term average return of the stock market, which can be estimated from risk free rate plus risk premium of stock market. GuruFocus uses 10-Year Treasury Constant Maturity Rate as the risk-free rate and rounded up to the nearest integer. It is updated daily. The current risk-free rate is 4.55%. Please go to Economic Indicators page for more information. Please note that we use the 10-Year Treasury Constant Maturity Rate of the country/region where the company is headquartered. If the data for that country/region is not available, then we will use the 10-Year Treasury Constant Maturity Rate of the United States as default. Then we added a risk premium of 6% to get the estimated discount rate. Some investors use their expected rate of return, which is also reasonable. A typical discount rate can be anywhere between 6% - 20%.
2. Dividend Growth Rate in the growth stage: g1 = 11.40%
The Growth Rate in the growth stage is initially set as the default 10-Year Dividend Growth Rate. In cases where the 10-year growth rate is unavailable, it defaults to using the 5-Year Dividend Growth Rate. If both the 10-year and 5-year growth rates are unavailable, the system defaults to the 3-Year Dividend Growth Rate.
However, it's important to note that there is a growth rate range. If the calculated growth rate exceeds 20%, it will be capped at 20%. Conversely, if the calculated growth rate falls below 5%, it will be adjusted to 5% to maintain a reasonable range.
=>
Natural Grocers by Vitamin Cottage's average Dividend Growth Rate in the past
5 years was 11.40%,
which is between 5% and 20%. => GuruFocus defaults => Growth Rate: 11.40%
3. Years of Growth Stage: y1 = 10
4. Terminal Growth Rate: g2 = 4%
5. Dividends per Share: adjusted dividends per share = $1.9089. GuruFocus uses adjusted dividends per share by default to ensure that the valuation reflects the total value of the company, as the actual dividend is only a portion of the total value.
All of the default settings can be changed in the DCF calculator and the results are calculated automatically.
* 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.
What does a Intrinsic Value: DCF (Dividends Based) of $33.54 mean?
Natural Grocers by Vitamin Cottage (NGVC) has a Intrinsic Value: DCF (Dividends Based) of $33.54 as of Jul. 08, 2026. Intrinsic Value: DCF (Dividends Based) is the stock value based on a two-stage discounted dividend model. View historical data on Natural Grocers by Vitamin Cottage and its competitors. This is 3156% above median its historical median of 1.03. Over the past decade, Natural Grocers by Vitamin Cottage's Intrinsic Value: DCF (Dividends Based) has ranged from 0.69 to 1.71. According to the industry distribution chart, Natural Grocers by Vitamin Cottage ranks #33 out of 66 companies in the Retail - Defensive industry, placing it in the top 50%.
Is Natural Grocers by Vitamin Cottage's Intrinsic Value: DCF (Dividends Based) too high?
Natural Grocers by Vitamin Cottage's current Intrinsic Value: DCF (Dividends Based) of $33.54 is 3156% above median its 10-year median of 1.03. Over the past 10 years, this metric has ranged from a low of 0.69 to a high of 1.71. The Retail - Defensive industry median Intrinsic Value: DCF (Dividends Based) is 1.02. Natural Grocers by Vitamin Cottage's value of $33.54 is 3188.2% above this industry median. Based on the distribution chart, Natural Grocers by Vitamin Cottage ranks #33 out of 66 companies in the Retail - Defensive industry, which is above 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 Intrinsic Value: DCF (Dividends Based) compare to YSWY and VLGEA?
According to the Retail - Defensive industry distribution chart, Natural Grocers by Vitamin Cottage ranks #33 out of 66 companies for Intrinsic Value: DCF (Dividends Based). This puts Natural Grocers by Vitamin Cottage in the upper half of its industry. The industry median Intrinsic Value: DCF (Dividends Based) is 1.02. Natural Grocers by Vitamin Cottage's value of $33.54 is 3188.2% above this benchmark. Historically, Natural Grocers by Vitamin Cottage's own Intrinsic Value: DCF (Dividends Based) has ranged from 0.69 to 1.71 over the past decade. While the company's 10-year median is 1.03 vs. the industry median of 1.02, 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 Intrinsic Value: DCF (Dividends Based) for a Retail - Defensive company?
The median Intrinsic Value: DCF (Dividends Based) among Retail - Defensive companies is 1.02, based on 66 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: DCF (Dividends Based) significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: DCF (Dividends Based) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Natural Grocers by Vitamin Cottage's current Intrinsic Value: DCF (Dividends Based) of $33.54 is 3188.2% 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 Intrinsic Value: DCF (Dividends Based) mean?
A high Intrinsic Value: DCF (Dividends Based) can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: DCF (Dividends Based) is the stock value based on a two-stage discounted dividend model. View historical data on Natural Grocers by Vitamin Cottage and its competitors. For the Retail - Defensive industry, the median Intrinsic Value: DCF (Dividends Based) is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Natural Grocers by Vitamin Cottage's current Intrinsic Value: DCF (Dividends Based) is $33.54, which is 3156% above median its own 10-year median of 1.03. 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 $27.33, compared to a current price of $33.74 — trading 23.5% above its estimated fair value. The current Intrinsic Value: DCF (Dividends Based) is $33.54, which is 3156% above median its 10-year median of 1.03 and 3188.2% above the Retail - Defensive industry median of 1.02. 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 Intrinsic Value: DCF (Dividends Based) calculated?
Intrinsic Value: DCF (Dividends Based) is calculated from a company's financial statements. For Natural Grocers by Vitamin Cottage (NGVC), the current Intrinsic Value: DCF (Dividends Based) is $33.54 as of Jul. 08, 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 $33.74 is trading 23.5% above its estimated GF Value™ of $27.33.
GuruFocus considers Natural Grocers by Vitamin Cottage to be Modestly Overvalued.
Key valuation signals for NGVC:
Intrinsic Value: DCF (Dividends Based): $33.54 (3156% above median its 10-year median of 1.03)
GF Value™: $27.33 vs. price of $33.74 (23.5% above fair value)
Industry Position: 3188.2% above the Retail - Defensive median (#33 of 66)
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
Get the complete analysis for NGVC
Intrinsic Value: DCF (Dividends Based) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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