Natural Grocers
Sells natural groceries, supplements, and body care through smaller-format U.S. stores.
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Profile
Sells natural and organic groceries, dietary supplements, body care, and related products through a single U.S. retail-store segment. The model combines strict product standards, smaller stores, free nutrition education, and founder-family leadership, with grocery the core sales category and the footprint concentrated in western, southwestern, plains, and mountain states.
Sells natural and organic groceries, dietary supplements, body care, pet care, and other products through one reportable retail-store segment. Grocery is the core sales category, while supplements and body care extend the store trip beyond conventional food retail.
Stores are smaller-format and concentrated in the United States, with a footprint across western, southwestern, plains, and mountain states. The operating model emphasizes strict product standards, entirely organic produce, screened ingredients, private-label Natural Grocers Brand products, and free nutrition education.
Founder-family leadership remains central: Kemper Isely and Zephyr Isely serve as Co-Presidents and principal executive officers. The business depends on store execution, product-standard credibility, supplier availability, and competition from supermarkets, mass retailers, natural-food chains, warehouse clubs, supplement sellers, and online retailers.
Company facts
Key statistics
Year to date +11.4% · Average volume (30d) 152.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Apr 16, 2026 | Industrial Alliance Securities | Target | $40 |
| Oct 22, 2025 | Northcoast Research | Target | $54 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q3 FY26 | $0.52 | $0.66 | +27.3% | $347.2M | $334.7M | −3.6% | −12.54% |
| May 7, 2026Q2 FY26 | $0.56 | $0.58 | +3.6% | $348.0M | $337.4M | −3.1% | −4.86% |
| Feb 5, 2026Q1 FY26 | $0.46 | $0.49 | +6.5% | $335.6M | $335.6M | 0.0% | −2.22% |
| Nov 20, 2025Q4 FY25 | $0.46 | $0.51 | +10.9% | $348.1M | $336.1M | −3.4% | −5.04% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $335.8M | $328.7M | $336.1M | $335.6M | $337.4M | $334.7M | |
| Gross profit | $101.7M | $98.3M | $99.0M | $98.9M | $94.5M | $98.0M | |
| Operating income | $17.6M | $15.6M | $15.5M | $14.6M | $18.7M | $15.0M | |
| Net income | $13.1M | $11.6M | $11.8M | $11.3M | $13.4M | $11.1M | |
| Diluted EPS | $0.56 | $0.50 | $0.51 | $0.49 | $0.58 | $0.48 | |
| Gross margin | 30.3% | 29.9% | 29.5% | 29.5% | 28.0% | 29.3% | |
| Operating margin | 5.2% | 4.7% | 4.6% | 4.4% | 5.5% | 4.5% |
Fiscal years (4-quarter sums)FY21 $1.06B · FY22 $1.09B · FY23 $1.14B · FY24 $1.24B · FY25 $1.33B
Revenue by product · Q3 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $17.5M · Total debt $321.2M · Total assets $687.7M · Shareholders' equity $239.4M
Dividends
Raised for 5 straight years — most recently to $0.15 from $0.12 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Sep 2 | $0.15 | |
| May 18, 2026 | May 18 | Jun 3 | $0.15 | |
| Mar 2, 2026 | Mar 2 | Mar 18 | $0.15 | |
| Dec 1, 2025 | Dec 1 | Dec 10 | $0.15 | raised from $0.12 |
| Sep 2, 2025 | Sep 2 | Sep 17 | $0.12 | |
| May 27, 2025 | May 27 | Jun 11 | $0.12 | |
| Mar 3, 2025 | Mar 3 | Mar 19 | $0.12 | |
| Dec 2, 2024 | Dec 2 | Dec 18 | $0.12 | raised from $0.10 |
Ownership
Shares outstanding 23.04M · Float 10.57M · 45.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 991.8K | 4.30% | 13F | Aug 7, 2026 |
| American Century Companies Inc | 652.8K | 2.83% | 13F | Aug 12, 2026 |
| Dimensional Fund Advisors LP | 651.7K | 2.83% | 13F | Aug 11, 2026 |
| Royce & Associates LP | 600.3K | 2.61% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 534.6K | 2.32% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 29, 2026 | Charity Isely | other: 13D Group Member | −3,000 | $29.04 |
Peers
- Sprouts Farmers Market
Closest specialty-grocery peer in natural and organic food
- Amazon
Whole Foods and Amazon grocery overlap in stores and online
- Kroger
Scale supermarket rival with organic brands and fresh departments
- Walmart
Mass grocery and warehouse formats pressure price and convenience
- Costco
Warehouse-club grocery rival in bulk and fresh food trips
- Albertsons Companies
Regional supermarket peer through Safeway and organic own brands
- Target
Mass retailer overlap in food, beauty, essentials, and pet care
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Natural Grocers | $27.48 | −0.11% | $633.2M | 13.3 | 12.6 | 0.5 | +1.8% |
| Sprouts Farmers Market | $81.73 | +0.33% | $7.60B | 15.6 | 13.8 | 0.8 | +4.7% |
| Amazon | $266.10 | −0.11% | $2.87T | 21.4 | 28.5 | 3.7 | +19.6% |
| Kroger | $57.69 | −0.06% | $35.36B | 33.8 | 11.1 | 0.2 | +2.2% |
| Walmart | $103.07 | −0.03% | $820.40B | 37.2 | 34.5 | 1.1 | +5.9% |
| Costco | $945.47 | −0.03% | $419.30B | 47.6 | 43.0 | 1.4 | +11.6% |
| Albertsons Companies | $12.52 | −0.10% | $6.08B | 156.6 | 5.7 | 0.1 | +0.2% |
| Target | $163.23 | +0.05% | $74.10B | 16.9 | 17.6 | 0.7 | +5.3% |
| Median | 33.8 | 17.6 | 0.8 | +5.3% |