Pricing Log in Create free account
Friday 6 November 2026 Export EYE’s income statement to Excel — free account

National Vision Holdings, Inc.

EYE Consumer Cyclical Specialty Retail

National Vision Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 9.00% from fiscal 2024.

Revenue
+2.55%
EPS
+45.5%
Free cash flow
−133.2%
Total debt
−12.7%

Quarter to June 2026, against a year earlier

17.78 0.16 −0.89%
Market cap
$1.4B
P/E
28.2×
Fwd P/E
23.8×
Dividend yield
—
F-score
8/9
Altman Z
2.27
Beneish M
−2.59
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.78
Sold, $m 1.27
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 1 — — — — —
Sell — — — 2 — — — — — — — —
Insider Ownership 3.49%

Capital & Financial Ratios $m

Size
Market Cap 1,410.00
Revenue ttm 2,033.43
Net income ttm 50.29
Free cash flow ttm 49.08
Net debt Q 201.74
Valuation
P/E 28.22
Forward P/E 23.80
Price / sales 0.70
Forward P/S Powerpack
Price / FCF 28.82
Price / book 1.58
Financial health
Current ratio Q 0.59 (below 1: weak)
Debt / equity Q 0.27 (at or below 0.5: strong)
Interest coverage Q 6.38
Growth
Revenue growth Q +2.55% (above 0%: growing)
Operating income growth Q +29.50% (above 0%: growing)
EPS, this year +25.93% (at or above 15%: strong)
EPS, next year A +19.56% (at or above 15%: strong)
Revenue, next year A +3.55%
EPS, past 5 yrs −3.41% (below 0%: weak)
EPS, next 5 yrs A +22.10% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.8×, against a ten-year median of 1.5×; over the ten years it ranged from 0.6× in 2024 to 2.7× in 2018.
P/E against its own 10 years 13.28%
10-year low 10-year high
P/S against its own 10 years 13.75%
10-year low 10-year high
P/B against its own 10 years 16.62%
10-year low 10-year high
EV/Sales against its own 10 years 12.78%
10-year low 10-year high
EV/FCF against its own 10 years 37.14%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 150 74 39 36
Receivables 87 50 57 35
Inventory 120 94 89 123
Other — — — —
397 250 226 227
2023 2024 2025 Q'26
Payables 68 54 79 77
ST’ Debt 10 101 17 16
Other — — — —
398 468 412 383

Compound Annual Growth %

10y 5y 3y
Sales 6.46% 3.03% 6.51%
Cash Flow 5.81% (9.04%) 7.07%
Earnings 23.39% (3.99%) (11.09%)
Book Value 8.45% (0.83%) (1.18%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.17 Actual 0.25

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.12 0.13 Beat by 0.01
Q4 FY25 0.06 0.15 Beat by 0.09
Q1 FY26 0.43 0.45 Beat by 0.02
Q2 FY26 0.17 0.25 Beat by 0.08
Q3 FY26 0.15 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.38 0.15 — — —
’25 0.18 0.11 0.04 0.04 0.37
’24 0.15 (0.04) (0.11) (0.36) (0.36)
’23 0.22 0.07 (0.94) (0.20) (0.84)
’22 0.34 0.12 0.15 (0.12) 0.52
’21 0.48 0.42 0.45 0.07 1.43
’20 0.12 (0.55) 0.42 0.42 0.44
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 544 499 — — —
’25 510 486 487 503 1,987
’24 483 452 452 437 1,823
’23 521 432 439 365 1,756
’22 528 510 499 108 1,645
’21 534 549 518 478 2,080
’20 470 260 485 497 1,712
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 62 8 — — —
’25 32 54 47 13 146
’24 24 51 28 30 134
’23 74 38 41 20 173
’22 47 41 33 (2) 119
’21 98 92 44 25 259
’20 86 (15) 132 31 235
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 44 (14) — — —
’25 12 42 30 (11) 73
’24 4 32 4 (2) 38
’23 46 12 13 (13) 58
’22 19 13 3 (30) 6
’21 81 70 24 (11) 163
’20 73 (27) 117 (5) 158
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,196 1,375 1,537 1,724 1,712 2,080 1,645 1,756 1,823 1,987 2,033 +5.8% 2,058 2,162 2,329 +5.4%
Gross margin, % 54.46 53.69 53.57 53.23 54.05 56.49 59.40 58.17 58.10 58.77 58.62 +4.3 pt
EBT 25 4 5 30 39 149 52 10 (26) 42 68 +5.9%
EBT margin, % 2.09 0.31 0.32 1.77 2.26 7.18 3.18 0.54 (1.41) 2.10 3.36 0.0 pt
Net income 13 43 24 33 36 128 42 (66) (28) 30 50 +9.3%
Per share, $
Per share, $ Revenue 21.29 22.96 20.25 21.94 21.25 25.42 20.60 22.43 23.20 25.12 25.56 +1.9%
Earnings 0.24 0.77 0.31 0.42 0.45 1.57 0.53 (0.84) (0.36) 0.37 0.63 +5.0%
Cash flow 1.74 1.51 1.40 2.10 2.92 3.16 1.49 2.21 1.70 1.85 1.63 +0.7%
Capex (1.60) (1.56) (1.38) (1.29) (0.95) (1.17) (1.42) (1.47) (1.22) (0.92) (1.01) (6.0%)
Free cash flow 0.13 (0.05) 0.03 0.81 1.96 2.00 0.07 0.74 0.49 0.93 0.62 +23.9%
Book value 7.15 10.93 9.79 9.88 11.25 11.32 11.29 10.59 10.39 10.99 11.28 +4.9%
Shares, m 56 60 76 79 81 82 80 78 79 79 79 +3.9%
Valuation, ×
Valuation, × P/E 77.16 56.17 80.49 78.11 102.93 30.57 76.31 0.00 0.00 69.78 28.22 57.2
P/S 1.16 1.75 1.39 1.48 2.13 1.89 1.93 0.95 0.45 1.03 0.70 1.4
P/B 6.17 3.68 2.88 3.28 4.03 4.24 3.52 2.01 1.00 2.35 1.58 3.3
EV/Sales 1.82 2.16 1.76 1.79 2.30 2.02 2.13 1.12 0.60 1.13 0.79 1.7
EV/FCF 199.24 (1,003.37) 1,264.19 48.30 24.85 25.64 620.38 33.91 28.71 30.64 32.93 127.2
Cash, $m
Cash, $m Operating cash flow 98 90 107 165 235 259 119 173 134 146 130 +4.6%
Capex (90) (93) (104) (101) (77) (96) (114) (115) (96) (73) (81) (2.3%)
Free cash flow 8 (3) 2 64 158 163 6 58 38 73 49 +28.7%
Balance, $m
Balance, $m Working capital (52) (49) 3 (39) 238 171 130 (1) (218) (187) (156) +15.2%
Net debt 741 565 561 530 281 264 338 311 276 207 202 (13.2%)
Shareholders’ equity 402 655 743 776 907 926 901 829 816 870 897 +9.0%
Returns, %
Returns, % ROA 0.89 2.77 1.46 1.78 1.66 5.54 1.84 (2.95) (1.36) 1.48 2.54 +0.6 pt
ROIC 3.50 3.29 2.03 3.52 4.58 9.19 2.66 1.34 (0.59) 3.41 4.71 (0.1) pt
ROE 3.39 8.17 3.38 4.32 4.31 14.00 4.61 (7.62) (3.46) 3.51 5.75 +0.1 pt
People
People Employees 10,360 10,902 10,668 11,781 12,792 13,735 13,975 13,998 13,411 13,138 — +2.7%
Revenue/emp, $m 0.12 0.13 0.14 0.15 0.13 0.15 0.12 0.13 0.14 0.15 — +3.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

National Vision Holdings, Inc. vs peers in Specialty Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RH RH $2.6B 23.3× 21.6× +2.56% (above 0%: growing) +15.22% (above 0%: growing) +23.83% (above 0%: growing) 48.24% 11.67% Compare
BOBS Bob's Discount Furniture, Inc. $2.5B 16.7× 15.4× +19.47% (above 0%: growing) +0.03% (above 0%: growing) +685.84% (above 0%: growing) 46.45% 8.68% Compare
ARHS Arhaus, Inc. $1.8B 27.5× 23.2× +6.83% (above 0%: growing) −33.33% (below 0%: shrinking) +303.70% (above 0%: growing) 39.23% 2.74% Compare
SBH Sally Beauty Holdings, Inc. $1.8B 9.4× 8.8× +0.23% (above 0%: growing) +23.91% (above 0%: growing) +25.44% (above 0%: growing) 52.41% 9.24% Compare
EYE National Vision Holdings, Inc. $1.4B 28.2× 23.8× +2.55% (above 0%: growing) +45.45% (above 0%: growing) −133.21% (below 0%: shrinking) 58.23% 4.27%
SVV Savers Value Village, Inc. $1.4B 22.5× 21.7× +8.47% (above 0%: growing) n/m +563.29% (above 0%: growing) 56.89% 9.83% Compare
HZO MarineMax, Inc. $1.2B — (loss-making) 254× −5.80% (below 0%: shrinking) n/m +0.54% (above 0%: growing) 37.36% (0.33%) Compare
WINA Winmark Corporation $956.0M 23.1× 25.7× +23.23% (above 0%: growing) +5.11% (above 0%: growing) +3.89% (above 0%: growing) 82.89% 56.60% Compare
WOOF Petco Health and Wellness Company, Inc. $853.5M 27.1× 15.9× +0.05% (above 0%: growing) +180.00% (above 0%: growing) +136.50% (above 0%: growing) 39.70% 3.21% Compare
Median of peers $1.6B 23.1× 21.7× +4.70% +10.17% +80.97% 47.35% 8.96%

All 45 Specialty Retail stocks →

Pay and ownership Proxy statement filed 4 May 2026

Ownership

Directors and executive officers, together 2.40%
BlackRock, Inc. 14.40%
The Vanguard Group 13.00%
Wellington Management 7.30%
William Blair Investment Management, LLC 6.20%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

National Vision Holdings, Inc. (EYE) Latest News

29 Oct

Impact 3 · · Business Wire
Impact 3 · · Simply Wall St.

12 Oct

Impact 3 · · Business Wire

28 Sep

Impact 3 ·

23 Sep

Impact 4 · · Investing.com

19 Aug

Impact 4 · · The Motley Fool transcript

14 Aug

Impact 3 ·

12 Aug

Impact 4 ·
Impact 3 ·
Impact 3 · · Moby
Impact 3 · · MarketBeat transcript
Impact 3 ·
Impact 3 ·

23 Jul

Impact 3 ·

18 Jun

Impact 3 ·

7 Jun

Impact 3 · · Simply Wall St.

4 Jun

Impact 4 · · Insider Monkey

3 Jun

Impact 3 · · Zacks

15 May

Impact 4 · · Zacks

14 May

Impact 4 · · StockStory

13 May

Impact 4 · · GuruFocus.com
Impact 4 · · Moby
Impact 4 · · The Motley Fool transcript
Impact 4 · · Benzinga transcript
Impact 4 · · Zacks
Impact 4 · · Zacks
Impact 4 · · Business Wire
Impact 3 · · Exec Edge
Impact 3 · · MarketBeat
Impact 3 · · InvestorsHub
stockrow.com/EYE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com