On this page of Benford's Law Stocks.com we present our study of Natural Grocers by Vitamin Cottage, Inc. — ticker symbol NGVC. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 5/7/2020 to 2/6/2025 for Natural Grocers by Vitamin Cottage, Inc. under CIK number 0001547459. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for NGVC, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for Natural Grocers by Vitamin Cottage, Inc. based on the past NGVC filings our system processed in the past.
Benford Chart for NGVC 10Q Filed 2/6/2025
30.8
16.0
11.3
12.0
6.8
6.1
7.5
4.5
5.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL? ✓  [ original filing, NGVC stockholder letter ]
Total numbers found: 426
Recent share count: 22,931,226 (2's column)

■ = Typical range across full coverage universe
# of Numbers Found in Filing
Benford's Law Stocks Indicator
426
Low count compared to other filers, falling in the bottom quartile. At this number count, it would take about 4 numbers to move any given column by a full percentage point.
Benford's Law Stocks Score for NGVC = 64
64

Starting from a possible score of 100, we made the following score deductions:
 • The 4's percentage was higher than the 3's percentage, increasing the penalty multiplier.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 4's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 4's percentage was above the company's typical historical range.
 • The 7's percentage was higher than the 6's percentage, increasing the penalty multiplier.
 • This is the 2nd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 7's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 7's percentage was above the company's typical historical range.
 • The 9's percentage was higher than the 8's percentage, increasing the penalty multiplier.
 • This is the 3rd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted point (includes the impact of penalty multiplier) upon observing the 9's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 9's percentage was above the company's typical historical range.
NGVC's Score Vs. Typical Stock
Benford's Law Stocks Indicator
NGVC
Low score compared to other filers, falling in the bottom quartile.
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Check our work! We provide our Natural Grocers by Vitamin Cottage, Inc. Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the NGVC filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 131 numbers that start with the digit 1. Here they are:
1
1
1
1
11,895
12,610
121,820
120,672
144,525
147,058
181,942
178,609
1,440
13,072
13,488
150,127
164,130
10,471
121,093
113,904
181,876
174,254
11,514
13,348
10,803
12,425
15
1,435
1
144
1,135
1,148
12,970
1,776
1,287
1,075
16,624
11,734
111
11,807
157,000
155,000
148,100
136,600
18
1,002
18,342
13,620
130
163
191
1,612
113,904
174,254
121,093
181,876
111,871
170,841
13,498
153,860
167
169
1.9
1.5
18
10
10
100
100
186,672
1.00
15.0
15.0
1.0
1
1
10.0
1
12
10
1.00
10,965
11,027
115
115
163
1,078
1,009
1,621
1,582
103
15,273
15,212
11,476
11,380
1,612
1
1
1
1
155,382
192,408
16,548
186,315
185,045
168,237
167,060
181,942
178,609
196
141
1,159
171
1,159
171
158
158
121
127
1,440
14,903
14,866
18
19
13,072
13,488
16,582
1,895
1
1
12
We found 68 numbers that start with the digit 2. Here they are:
22,931,226
268,226
275,111
256,051
263,404
22,931,226
22,888,540
23
23
231,397
212,990
2,487
2,154
22,903,569
22,751,524
23,168,064
22,979,744
252
2,682
25
236
2,000
2,749
25,028
2,555
27
22,888,540
23
2,749
2,749
22,931,226
23
22,738,915
23
262
25,028
25,028
22,752,413
23
21
236,624
212,135
20
29,641
22,903,569
22,751,524
264,495
228,220
23,168,064
22,979,744
25.0
2.5
2.5
2.2
24
292,025
256,051
298,246
2,399
2,324
280,796
279,502
2
2
21,874
2,268
2,058
2
We found 48 numbers that start with the digit 3. Here they are:
39,674
322,412
329,809
34,560
35,847
35,974
35,926
3,960
316,876
317,092
330,221
301,750
34
34
30
3,183
319
38
308
3,828
328
36
36
32,066
330,221
301,750
34
34
34,220
35.0
3
3.9
35,397
39,937
36,549
3,905
37,026
357,023
338,232
35,974
39,986
31,345
30,622
395
389
389
34,560
35,847
4's 5's 6's
We found 51 numbers that start with the digit 4. Here they are:
4
4
4
4,494
4,905
40,752
458
4,012
42,195
43,217
467,003
481,222
436
43
43
406
430
4
4,180
4,722
441
46
496
455
4,680
433
433
42,686
4
43
43
4,680
4.1
4.8
4.9
4,540
45,115
43,693
49,831
40,887
45,940
40,454
419,778
46,207
4,012
42,195
462,738
458,111
418
458
413
We found 29 numbers that start with the digit 5. Here they are:
50,000,000
538
50
570
5
52
59,013
59,275
5
59,974
5.0
50
50.0
5
59
542
502
542
585
52
51,208
5,053
5.9
5,758
50
5,198
5,198
575
5,314
We found 26 numbers that start with the digit 6. Here they are:
6,316
648,879
655,476
60,760
60,327
648,879
655,476
68,012
60
6,316
60,327
60,760
66
66
61,531
61.4
6,497
6,093
6,138
62,755
64,998
6,746
6,746
60,578
60,556
6,845
7's 8's 9's
We found 32 numbers that start with the digit 7. Here they are:
75,581
73,526
7,755
7,755
7,950
7,451
742
78
7,755
7,755
72
70
7,755
72.5
75.0
72.8
7.3
7.5
70
794
754
7,118
7,336
70
7,950
7,451
7,514
7,034
7,389
7,832
78
7,874
We found 19 numbers that start with the digit 8. Here they are:
8,871
88,397
8,900
88,760
894
8,409
8,319
8,543
8,401
815
8,871
8,514
8.9
8.1
84
88
815
81,546
8,290
We found 22 numbers that start with the digit 9. Here they are:
9,730
98,824
9,407
923
9,909
9,938
9,938
90
9,618
9,417
969
9,539
9,938
9,938
94,562
9,938
9
98
98
969
9,821
9,607
While the above NGVC 10Q Filed 2/6/2025 is interesting in isolation, we have found that it is also useful to take a look at older Natural Grocers by Vitamin Cottage, Inc. filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10Q Filed 2/6/2025 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical NGVC 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

10Q Filed 2/6/2025
30.8
16.0
11.3
12.0
6.8
6.1
7.5
4.5
5.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 64
XBRL? ✓  [ original filing ]
Total numbers found: 426

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 5/9/2024
30.3
20.3
10.8
9.7
5.9
6.6
6.1
5.6
4.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL? ✓  [ original filing ]
Total numbers found: 575

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 8/3/2023
29.8
24.8
8.8
7.1
7.3
5.1
6.1
6.5
4.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 64
XBRL? ✓  [ original filing ]
Total numbers found: 604

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10K Filed 12/8/2022
24.9
22.8
13.8
8.0
9.3
7.3
5.2
4.6
4.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL? ✓  [ original filing ]
Total numbers found: 850

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 2/3/2022
26.5
19.1
16.9
6.9
11.8
5.1
6.9
4.9
2.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 62
XBRL? ✓  [ original filing ]
Total numbers found: 408

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 5/6/2021
32.4
19.9
12.1
9.8
9.9
5.0
5.0
3.0
3.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 95
XBRL? ✓  [ original filing ]
Total numbers found: 564

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 8/6/2020
30.3
22.6
11.3
11.6
8.2
4.6
4.9
3.5
3.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 84
XBRL? ✓  [ original filing ]
Total numbers found: 636

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10K Filed 12/12/2024
29.9
19.8
14.2
10.2
5.9
7.6
5.4
3.2
3.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 85
XBRL? ✓  [ original filing ]
Total numbers found: 777

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 2/8/2024
27.0
17.7
12.1
11.6
9.2
6.4
6.6
5.2
4.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL? ✓  [ original filing ]
Total numbers found: 423

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 5/4/2023
32.3
21.0
7.3
10.7
7.7
6.4
4.5
6.1
4.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 81
XBRL? ✓  [ original filing ]
Total numbers found: 561

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 8/4/2022
31.0
24.0
9.9
6.8
10.3
5.2
6.3
3.5
3.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 80
XBRL? ✓  [ original filing ]
Total numbers found: 575

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10K Filed 12/9/2021
24.1
22.1
13.9
10.5
9.4
7.3
4.6
4.3
3.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL? ✓  [ original filing ]
Total numbers found: 839

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 2/4/2021
31.1
19.6
15.1
9.6
9.3
5.7
4.8
3.1
1.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 91
XBRL? ✓  [ original filing ]
Total numbers found: 418

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 5/7/2020
31.4
21.9
12.6
8.4
8.6
4.5
4.9
3.6
4.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 80
XBRL? ❌  [ original filing ]
Total numbers found: 1,255

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 8/8/2024
28.9
23.7
10.9
8.9
6.8
6.3
5.2
4.2
4.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 94
XBRL? ✓  [ original filing ]
Total numbers found: 615

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10K Filed 12/7/2023
28.4
21.2
13.4
8.5
8.4
7.1
4.5
3.9
4.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL? ✓  [ original filing ]
Total numbers found: 777

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 2/2/2023
28.4
18.7
11.0
10.7
9.5
5.5
6.7
6.2
3.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 95
XBRL? ✓  [ original filing ]
Total numbers found: 401

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 5/5/2022
30.6
21.3
10.7
9.5
9.1
7.3
5.0
3.6
2.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL? ✓  [ original filing ]
Total numbers found: 559

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10Q Filed 8/5/2021
32.4
23.5
10.6
8.6
9.0
5.1
6.6
2.0
2.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 70
XBRL? ✓  [ original filing ]
Total numbers found: 592

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
10K Filed 12/10/2020
25.6
19.9
12.2
13.8
11.0
6.2
4.1
4.3
2.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 68
XBRL? ✓  [ original filing ]
Total numbers found: 926

■ = Typical NGVC range from 5/7/2020 to 2/6/2025
LPAAU 10K Filed 3/26/2025:
49
PL 10K Filed 3/26/2025:
98
JTAI 10K Filed 3/26/2025:
85
BCDA 10K Filed 3/26/2025:
84
CCIRU 10K Filed 3/26/2025:
33
UTMD 10K Filed 3/26/2025:
94
SNAL 10K Filed 3/26/2025:
74
MVIS 10K Filed 3/26/2025:
67
ARKB 10K Filed 3/26/2025:
22
CETH 10K Filed 3/26/2025:
53
CAPNU 10K Filed 3/26/2025:
61
VRNT 10K Filed 3/26/2025:
88
HOFV 10K Filed 3/26/2025:
89
FDSB 10K Filed 3/26/2025:
56
ECBK 10K Filed 3/26/2025:
94
PAYX 10Q Filed 3/26/2025:
78
ADBE 10Q Filed 3/26/2025:
62
EPAC 10Q Filed 3/26/2025:
93
FINW 10K Filed 3/26/2025:
99
ELA 10K Filed 3/26/2025:
88
MAMO 10K Filed 3/26/2025:
92
FENC 10K Filed 3/26/2025:
68
BPT 10K Filed 3/26/2025:
89
OLLI 10K Filed 3/26/2025:
71
IGTAU 10K Filed 3/26/2025:
79
USIO 10K Filed 3/26/2025:
44
TNON 10K Filed 3/26/2025:
89
BOTJ 10K Filed 3/26/2025:
77
ISPO 10K Filed 3/26/2025:
88
NKTX 10K Filed 3/26/2025:
85
JWSUF 10K Filed 3/26/2025:
73
S 10K Filed 3/26/2025:
97
VBFC 10K Filed 3/26/2025:
98
GRDN 10K Filed 3/26/2025:
88
CATX 10K Filed 3/26/2025:
36
DLTR 10K Filed 3/26/2025:
84
ZNTL 10K Filed 3/26/2025:
76
SONX 10K Filed 3/26/2025:
85
BBGI 10K Filed 3/26/2025:
47
RDACU 10K Filed 3/26/2025:
12
 

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