Compliance Status
Doubtful
Screened on Oct 17, 2026 · AAOIFI Standard 21
Very Good
Is Natural Grocers by Vitamin Cottage, Inc. (NGVC) halal? Doubtful. Based on AAOIFI screening, Natural Grocers by Vitamin Cottage, Inc. passes the business activity screen but has financial ratios approaching AAOIFI limits with a compliance score of 82/100 (Grade: A).
Quote this verdict
HalalScreener rates Natural Grocers by Vitamin Cottage, Inc. (NGVC) Doubtful, 82/100, grade A under AAOIFI Standard 21, screened Oct 17, 2026. Source: https://halalscreener.app/en/stock/NGVC
Business activity
Its main business is permissible, with some incidental non-compliant revenue.
Company debt
Well clear of the limitHow much the company borrows, compared to its total value. AAOIFI allows up to 30%.
The verdict above is final and free.
Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.
Screened according to AAOIFI Standard 21
What this means for you
You may own NGVC, with caution
Its numbers sit close to AAOIFI limits. Cautious investors may prefer alternatives or ask a scholar first.
Purification amount is Pro
We have screened NGVC's prohibited income, but the exact share you would need to purify is part of Pro.
NGVC: Is Natural Grocers by Vitamin Cottage, Inc. Halal?
Natural Grocers by Vitamin Cottage, Inc.
$30.61
Market Cap: 705.4M
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About Natural Grocers by Vitamin Cottage, Inc.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) operates as a retailer specializing in natural and organic food items and dietary supplements across the United States. Its stores provide an extensive array of natural and organic groceries, including fresh produce and bulk foods. The comprehensive grocery selection spans dry, frozen, and canned goods; fresh meats and seafood; dairy products and their plant-based alternatives; prepared foods; fresh bread and baked items; and a variety of beverages, including beer, wine, and hard cider. A significant portion of their inventory comprises private label products, offering a wide range of essentials such as pasta, sauces, canned goods (beans, vegetables), frozen items (vegetables, fruits, meals, pizza), baking mixes, plant-based butter, various oils, sweeteners (honey, maple syrup), coffee, chocolates, meats (bacon, jerky), snacks (popcorn, chips), and household staples like eggs, cheese, applesauce, water, paper products, and cleaning supplies. Beyond edible goods, Natural Grocers also stocks private label and brand-name dietary supplements; natural and organic body care items covering cosmetics, skincare, haircare, and personal care; pet care products and food; books and informational guides; and general household merchandise like cleaning supplies, soaps, and baby diapers. Operating under the "Natural Grocers by Vitamin Cottage" brand, the company had 162 stores spread across 20 states as of February 1, 2022. A key differentiator is its commitment to customer well-being, demonstrated through science-backed nutrition education programs designed to empower informed health and dietary choices. Established in 1955, Natural Grocers by Vitamin Cottage, Inc. is based in Lakewood, Colorado.
Sector: Consumer Defensive · Industry: Grocery Stores
Why This Stock Is Doubtful
- Business activity: the company's own filing confirms revenue from an activity AAOIFI treats as prohibited but does not disclose its share, so it cannot be shown to be under the 5% limit.
Stocks are marked Doubtful when financial ratios pass but approach AAOIFI thresholds. Consider consulting a qualified scholar for a definitive ruling.
Shariah Compliance Status
See which ratio caused the failure.
See the exact debt ratio, interest income %, and prohibited revenue that caused the failure. Know before you sell or hold.
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See why NGVC is rated Doubtful with institutional-grade analysis
Business Activity Screen
Share not disclosedChecks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)
The company's own filing names this revenue but does not say how large it is, so it cannot be shown to be under the AAOIFI 5% limit. The verdict stays Doubtful until the company discloses a figure. The percentage shown is an estimate for purification only.
- •Sells beer and wine in its stores; their share of revenue is not disclosed
Use the Purification Calculator to compute exactly how much of your dividend income to donate.
Source: the company's Form 10-K for the fiscal year ended 2025-09-30, which names this revenue without a figure. View its filings on SEC EDGAR
The verdict above is final and free.
Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.
Screened according to AAOIFI Standard 21
Compliance History
Doubtfulnow
since Sep 2026
Halal
until the change above
Tracked since May 2026. Updates automatically on each re-screen.
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Frequently Asked Questions
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Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.
Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.