Natural Grocers by Vitamin Cottage Inc

NGVC

Compliant
Exchange
Sector
Headquarters
Group
NYSE
Consumer Cyclicals
USA
Small Cap

Natural Grocers by Vitamin Cottage Inc is Shariah Compliant. It passes 5/5 Shariah standards we screen against.

0.64%

Impure Income*

$0.093

Purification*

$0.077

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Total Analysts
Revenue Growth
Small Cap
BUY
327.51%
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
-239.80%
-670.23%
12.20
12.23
69.04%

Shariah Compliance

  • Updated on September 22, 2026
Debt
7.34%
✓
Non-Compliant Assets
0.02%
✓
Impure Income
0.64%
✓

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
6.99%
✓
Impure Income
0.64%
✓

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
5.87%
✓
Impure Income
0.64%
✓

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
6.87%
✓
Cash
2.56%
✓
Cash & AR
4.1%
✓
Impure Income
0.64%
✓

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
6.87%
✓
Cash
2.56%
✓
Cash & AR
4.1%
✓
Impure Income
0.64%
✓

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

Alcohol
0.5%
Interest Income
0.14%

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

Natural Grocers by Vitamin Cottage, Inc. is a specialty retailer of natural and organic groceries, body care products and dietary supplements. Its stores offer a comprehensive selection of natural and organic groceries and dietary supplements in a smaller-store format that aims to provide a convenient, clean and easily shopped environment for its customers. It offers a variety of products associated with special diets, such as gluten-free, vegetarian and non-dairy. Its grocery products include organic produce; Natural Grocers brand products; dry, frozen and canned groceries; meats and seafood; dairy products, dairy substitutes and eggs; prepared food; bread and baked goods; beverages, and beer, wine and hard cider. Its dietary supplement department primarily sells name-brand supplements, as well as a line of Natural Grocers brand private-label dietary supplements. It also offers body care, pet care, household and general merchandise and books. It has over 169 stores in 21 states.

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