Flagship explainer

What drives Natural Grocers by Vitamin Cottage, Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity24%Tax burden79%net income ÷ pretax incomeInterest burden95%pretax ÷ operating incomeOperating margin5%operating income ÷ revenueAsset turnover2.01×revenue ÷ average assetsEquity multiplier3.43×average assets ÷ average equityAs of 2025-09-30 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$46.4MFY2025
Income before tax$58.9MFY2025
Operating income$62MFY2025
$1.3BFY2025
Ending assets$671MFY2025
Beginning assets$655MFY2024
$212MFY2025
$174MFY2024
Source: · event Sep 30, 2025 · retrieved Oct 15, 2026 · annual-row source set
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