Natural Grocers by Vitamin CottageNGVC +2.29%86 Return-on-Tangible-Equity is 25.73% as of Mar. 2026, which is 91% above its 10-year median of 13.45. GuruFocus rates NGVC with a GF Score™ of 86/100 and a GF Value™ of $27.31 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 298 Retail - Defensive companies, Natural Grocers by Vitamin Cottage ranks better than 74.5% on this metric.
The historical rank and industry rank for Natural Grocers by Vitamin Cottage's Return-on-Tangible-Equity or its related term are showing as below:
NGVC'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 5.53 Med: 13.45 Max: 26.09
Current: 24.64
During the past 13 years, Natural Grocers by Vitamin Cottage's highest Return-on-Tangible-Equity was 26.09%. The lowest was 5.53%. And the median was 13.45%.
NGVC's Return-on-Tangible-Equity is ranked better than 74.5% of 298
companies
in the Retail - Defensive industry
Industry Median: 11.085
vs NGVC: 24.64
Natural Grocers by Vitamin Cottage (NYSE:NGVC) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Natural Grocers by Vitamin Cottage Return-on-Tangible-Equity Related Terms
Natural Grocers by Vitamin Cottage Return-on-Tangible-Equity Historical Data
* 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.
Natural Grocers by Vitamin Cottage Return-on-Tangible-Equity Chart
NGVC vs YSWY, VLGEA, DNUT: Return-on-Tangible-Equity Comparison
For the Grocery Stores subindustry, Natural Grocers by Vitamin Cottage's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Natural Grocers by Vitamin Cottage's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Natural Grocers by Vitamin Cottage's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 25.73% mean?
Natural Grocers by Vitamin Cottage (NGVC) has a Return-on-Tangible-Equity of 25.73% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Natural Grocers by Vitamin Cottage and its competitors. This is 91% above median its historical median of 13.45. Over the past decade, Natural Grocers by Vitamin Cottage's Return-on-Tangible-Equity has ranged from 5.53 to 26.09. According to the industry distribution chart, Natural Grocers by Vitamin Cottage ranks #76 out of 298 companies in the Retail - Defensive industry, placing it in the top 25.5%.
Is Natural Grocers by Vitamin Cottage's Return-on-Tangible-Equity too high?
Natural Grocers by Vitamin Cottage's current Return-on-Tangible-Equity of 25.73% is 91% above median its 10-year median of 13.45. Over the past 10 years, this metric has ranged from a low of 5.53 to a high of 26.09. The Retail - Defensive industry median Return-on-Tangible-Equity is 11.09. Natural Grocers by Vitamin Cottage's value of 25.73% is 132.1% above this industry median. Based on the distribution chart, Natural Grocers by Vitamin Cottage ranks #76 out of 298 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 Return-on-Tangible-Equity compare to YSWY and VLGEA?
According to the Retail - Defensive industry distribution chart, Natural Grocers by Vitamin Cottage ranks #76 out of 298 companies for Return-on-Tangible-Equity. This puts Natural Grocers by Vitamin Cottage in the upper half of its industry. The industry median Return-on-Tangible-Equity is 11.09. Natural Grocers by Vitamin Cottage's value of 25.73% is 132.1% above this benchmark. Historically, Natural Grocers by Vitamin Cottage's own Return-on-Tangible-Equity has ranged from 5.53 to 26.09 over the past decade. While the company's 10-year median is 13.45 vs. the industry median of 11.09, 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 Return-on-Tangible-Equity for a Retail - Defensive company?
The median Return-on-Tangible-Equity among Retail - Defensive companies is 11.09, based on 298 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Natural Grocers by Vitamin Cottage's current Return-on-Tangible-Equity of 25.73% is 132.1% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Natural Grocers by Vitamin Cottage and its competitors. For the Retail - Defensive industry, the median Return-on-Tangible-Equity is 11.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Natural Grocers by Vitamin Cottage's current Return-on-Tangible-Equity is 25.73%, which is 91% above median its own 10-year median of 13.45. 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 $27.31, compared to a current price of $32.60 — trading 19.4% above its estimated fair value. The current Return-on-Tangible-Equity is 25.73%, which is 91% above median its 10-year median of 13.45 and 132.1% above the Retail - Defensive industry median of 11.09. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Natural Grocers by Vitamin Cottage (NGVC), the current Return-on-Tangible-Equity is 25.73% 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 $32.60 is trading 19.4% above its estimated GF Value™ of $27.31.
GuruFocus considers Natural Grocers by Vitamin Cottage to be Modestly Overvalued.
Key valuation signals for NGVC:
Return-on-Tangible-Equity: 25.73% (91% above median its 10-year median of 13.45)
GF Value™: $27.31 vs. price of $32.60 (19.4% above fair value)
Industry Position: 132.1% above the Retail - Defensive median (#76 of 298)
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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