Natural Grocers by Vitamin Cottage, Inc.
$960.25M- Market cap
- $643.67M
- Debt
- +$333.69M
- Cash
- −$17.12M
Capital structure 66% equity / 34% debt · EV / Revenue 0.72x · EV / EBITDA 14.76x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: NGVC stock price at discount vs SLG $27.93 current versus $227.51 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at SLG's multiple
Implied fair value · at NGVC's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: NGVC FY 2025 (ended Sep 30, 2025) · SLG FY 2025 (ended Dec 31, 2025). Fiscal years are not aligned.
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 66% equity / 34% debt · EV / Revenue 0.72x · EV / EBITDA 14.76x
Capital structure 37% equity / 63% debt · EV / Revenue 10.47x · EV / EBITDA 30.34x
SLG carries the larger enterprise value at $10.50B against $960.25M; NGVC trades on the lower EV / Revenue multiple (0.72x vs 10.47x); NGVC on the lower EV / EBITDA (14.76x vs 30.34x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Natural Grocers by Vitamin Cottage, Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
SL GREEN REALTY CORP · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
1.57x
1.83x
Net debt / EBITDA
Leverage against operating earnings
4.86x
18.93x
Cash and equivalents
Liquid reserves on the balance sheet
$17.12M
$179.41M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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